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/biz/ - Business & Finance

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52808614 No.52808614 [Reply] [Original]

Who is buying million dollar outhouses in rural new mexico at 8% interest?

>> No.52808642

>>52808614
Retards are and banks are happy to loan them the money they can’t pay back. It’s going to be another housing bubble that will pop after a few years.

>> No.52808652

>>52808614
>Who is buying million dollar outhouses in rural new mexico at 8% interest?
No one you out of touch rentoid. The crash has started already. It will continue slowly downwards for the next few years. What are you expecting? An overnight 50% drop? Get real you tard.

>> No.52808668

>>52808642
>Retards are buying million dollar mansions with 7% rate loans
No they aren't you tard. Luxury real estste market is dead in the water. The handful of sales in this price bracket still happening are people with cash.

>> No.52808746

Another two weeks bro just the plan, keep wasting all your time on this website asking the same questions over and over

>> No.52809615

>>52808614
the open borders policy and influx of 3rd worlders props up the housing mkt.

>> No.52810034

>>52808614
house by me just sold in 3 days on the market.

>> No.52810053
File: 172 KB, 1080x2300, Screenshot_20221210-025549.png [View same] [iqdb] [saucenao] [google]
52810053

Wondering the same. Pic related. Prices should be dropping, not going up.

>> No.52810060

>>52808614
volume has collapsed, no one with a 3% mortgage wants to sell and take on a new 7% mortgage
if you have to sell now, prices have collapsed, so most people just aren't selling

>> No.52811271

JUST TWO MORE WEEKS IT'LL HAPPEN JUST WAIT REEEEEEEEEEEEEEEEEE

>> No.52811302

>>52808614
>Who is buying million dollar outhouses in rural new mexico at 8% interest?
No one. They’re buying with cash.

>> No.52811351

>>52810060
^
Nobody really needs to sell, so there's definitely no reason to sell for a loss. Also, 10's of millions of people are sideline watching for the slightest dip to get involved, so good deals get snatched up instantly still.

Maybe when the airbnb yuppies with 5 beach houses get a massive negative return this summer, you'll see some action in vacation home spots. If everyone is back to a real office (or laid off) though, it's not really going to help much.

>> No.52811357

>>52808614
Real estate is slow, but massive foreclosures are inevitable

>> No.52812439

>>52810053
zoom out

>> No.52813496

>>52808614
Foreigners
The amount of American homes being bought by Chinese is ridiculous
The Chinese govt encourages foreign real estate purchases through tight currency restrictions
All you incels think a crash will let you buy a home but they’re all being sold to Chang before you get a chance to buy

>> No.52813712

>>52813496
Defund the police and squat.

>> No.52815352

>>52808642
it doesnt seem like a bad option to buy NOW when i have cash and there are more and more properties opening up, rather than wait 10+ years?? stop doomposting

>> No.52815372

>>52811351
>Nobody really needs to sell
plenty of people need to sell
it's called not being able to afford the house anymore

>> No.52815635

>>52815372
>anymore
This isn't 2008 retard. Almost all mortgages are fixed rate now

>> No.52815746

So many people count on being able to tap home equity for their future financial planning, if you get stuck in an overpriced mortgage while the house price collapses you’re fucked

>> No.52816381

>>52810053
faggot, get a job

>> No.52818215

>>52815635
Don't be retarded. Just because they could afford the loan a few years ago doesnt mean they can afford it now and indefientley. Cost of living, inflation, ect. has sky rocketed. Most persons with mortgages budgeted for a time gone by. Just because rates are low on fixed mortages doesn't mean they can be afforded by the buyer. Sure they could afford them a year or so back. Doesn't mean they can addord them now.

>> No.52818236

>>52808614
No one is buying them. Boomers KNOW WHAT THEY GOT and just keep them up for sale forever at their retarded price.

>> No.52818267

>>52815372
What I don't get is if the value of your house drops from let's say $750,000 to $400,000 what's stopping you from just selling the house to yourself? You've effectively just made $350K in free money.

>> No.52818282

>>52815746
pretty much this look at the higher price real estate markets across north america and you will see more and more people using a home equity line of credit