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/biz/ - Business & Finance

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53224624 No.53224624 [Reply] [Original]

Real estate agents are getting nervous

>> No.53224703

>>53224624
I was listening to a gaggle of roastie realtors in the butcher shop saying "the housing market is just taking a break because it's winter".

>> No.53225018
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53225018

>>53224703
Iys just a gully

>> No.53226113

>>53224624
>Real estate agents are getting nervous
There are almost no homes on the market compared to 2019 (The last normal market). We are still looking at a massive supply shortage. The current homeowners are sitting happily with 3% loan rates. If they sold, they would have to buy a new house at 6% or higher. High rates freeze the market. There is a fuck ton of young millennial families waiting to jump into their first home. But the supply is not available yet. We would need to see a massive supply shock to satisfy the demand waiting for prices to come down.

>> No.53226281

>>53226113
>supply is down compared to 2019
Since when?
Additionally, layoffs have just started and the inventory will pile up. Houses are sitting for months.

>> No.53226367

>>53226281
>layoffs have just started
yep just 2 more weeks
>Houses are sitting for months.
all those houses sitting on the market are shit like below. They are not a real listings. If a listing hasn't changed the prices after a month then it is an boomer who knows what he has and currently renting it out.
https://www.zillow.com/homedetails/1443-E-Cedar-St-Tempe-AZ-85281/7587369_zpid/
https://www.zillow.com/homedetails/1221-S-Wilson-St-Tempe-AZ-85281/7558692_zpid/
https://www.zillow.com/homedetails/1220-S-Mill-Ave-Tempe-AZ-85281/7585175_zpid/

>> No.53226484
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53226484

These threads always break out into 2 camps
>House prices are going to crash
Renters / losers in mums basement who are hoping for a crash to say "I told you so" or buy cheap
>If there is a crash prices will recover
Homeowners who are not smooth brains.

Imagine looking at pic related and betting against it. Got to be room Temperature I.Q at best

>> No.53226571

>>53226113
The second they lower rates then prices are going to go even higher

People are buying homes for 10% off at double the interest.

>> No.53226607

>>53226484
According to that chart we still have 20% to drop

>> No.53226699

>>53226367
>2 more weeks
It’s literally already happened and Goldman Sachs is laying off 3500 more. Cope more retarded faggot

>> No.53226748

>>53226484
>if the chart moves up and to the right there can never be a crash
>a crash is literally half an inch to the left of current data in your chart
Congrats you failed the room temp IQ test

>> No.53226779

>>53224624
Where I live house prices are already down 20-30% and still falling. Stock is building up and nothing is selling because vendors aren't dropping their prices fast enough. Many people coming off 1 to 2 year fixed rates will face 2x or 3x rates this year and become forced sellers.

I expect a 70% drawdown in prices like Ireland in 2008.

>> No.53226998

>>53226113
>Assuming owners are solvent
ishygddt

>> No.53227007

>>53226779
>Where I live house prices are already down 20-30%
after the prices doubled in two years
>Stock is building up and nothing is selling
Even in the Phoenix area stock is half of 2019
>Many people coming off 1 to 2 year fixed rates
They make up less than 5% of mortgages. The vast majority of mortgages are 30 year fixed around 4%.
Everything you said is a lie. The hosing market will drop a little more but flat line until rates come back down.

>> No.53227014

>>53226484
nice double top forming

>> No.53227022

>>53226998
If I had a 3% loan on a house I bought before the COVID madness. I would be solvent as fuck.

>> No.53227048

>>53224624
>best friend becomes real estate agent in 2019
>becomes so successful he buy a 400k hour to live in and a 150k airbnb
>never offered to pay for anything ever
>always on a trip, conference, etc
>too busy to play golf or anything with friends
>2023
>cant afford to play a fantasy football challenge (100 dollar buy in)
>always accessible
>down to hang anytime
>never on the phone
Hes gonna lose it all aint he

>> No.53227058

>>53227022
>if
But you don't. A lot of people are house poor, anon. That's what happens with FOMO: people pile in every dollar they have an operate on razor thin margins.

>> No.53227080
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53227080

>>53224703
Happens every yea, we'll see the market pick up end of spring because that's when the kiddos are out of schoolarino! That is unless someone.....
RAISED THE RATES

>> No.53227192

>>53227058
Are you retarded. Most houses were bought before 2020. And all those lucky fuckers haven't felt rent prices going up. The average home owner is in great shape.

>> No.53227226

>>53227192
>haven't felt rent prices going up
But they have felt the price of their groceries, insurance, fuel etc. going up. And yes, I am retarded, thank you.

>> No.53227300

>>53227226
So they are going to not pay the one thing that isn't going up in price. AND if they don't pay they will pay out the ass for rent every month instead.
Yes the average person is stupid but not retarded.

>> No.53227347

>>53227226
It is not like rent is the number one expense for people. For people who... own a home they don't deal with rent going up.

>> No.53227409

>>53227300
People will choose to eat, anon.
>>53227347
It doesn't matter if their mortgage payment is static if their income is also static and their non negotiable expenses increase to untenable levels.

>> No.53227421

I'm waiting for low rates again, even if it takes 20 years I'll be stacking cash until then

>> No.53227502

>>53227421
The trick is; buy when rates are high, and home prices are low. Then you refinance to a low rate. So you have both the low price and the low rate.

>> No.53227820

>>53227502
How do you refinance? Can you change lender?

>> No.53227910

>>53227502
Wha? How do you refinance to a lower rate? How would banks ever let you do this
>t. House newfag

>> No.53228064

>>53227910
It takes a few years but yeah they let you do that.

>> No.53228086

>>53227910
>How do you refinance to a lower rate?
literally just refinance the debt, it's not really different than a balance transfer on a credit card, really.

>> No.53228362
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53228362

>>53227820
>>53227910
Other entities would like the business/volume. Keep reading young men and you will prosper