Housing market

[tornquad201]

Is it a good time too buy there’s rumors of a crash in 2022 .

 

[NEMSZ]

I’m not a housing/real estate market expert; it would be really cool if some more knowledgeable guys can chime in on this here...

My opinion is that the housing market is super inflated right now and I wouldn’t buy anything until we’re a good year or 2 out from recent events just to see how it plays out...

I’ve listened to some wealthy entrepreneurs type guys on podcasts talk about things are going to go down in the coming years, some say 2022/2023 and they went ahead and explained the things taking effect like some interest rates and other stuff I didn’t really understand.. Im trying to learn..

I’ve also heard rumors and opinions of guys who say things are actually going to go up.. We’ve seen wood and materials prices skyrocket, I think the price of a brand new home on average costs something like $30k more, because of the increase in price on materials etc...

And NOT TO GET POLITICAL AT ALL HERE but you can’t just print trillions upon trillions of dollars and give it out and expect the value of a dollar to hold the same.. So by the value of the dollar going down I would assume that cost of goods and labor and homes etc is going to go up and up...

I’m no economics or real estate expert but this is what I’ve gathered from different sides of some experts I’ve listened to and it’s hard to know what to believe...

What am I going to do?? Well I’m waiting and holding and looking where I can invest my money and make more until I’m ready to buy and can see long term to the best of my ability what’s going to happen..

I like to think of it as standing on the beach and looking out to the horizon on a Sunny and clear day, if it’s clear as far as I can see, then I’ll make a calculated risk, but if it’s foggy and clouded and I can’t even see the shoreline, I’ll hold off and look elsewhere... Not worth the risk.. We saw what happened to people 13 years ago in 08’...

 

[Bleed]

Houses are selling for 30k or more...cash...over the asking price. Many times the units being sold arent in livable condition and many times the buyers will waive inspections.

I dont have a crystal ball and I am not expert but if this isnt the definition of a bubble, then what is?

 

[Biggerp73]

Prices are inflated and real estate agents are expecting them to decline but that could change to some degree depending on what extent if any inflation occurs

 

[Zarati]

Inflation means cash is useless and assets go up

 

[NEMSZ]

Houses are selling for 30k or more...cash...over the asking price. Many times the units being sold arent in livable condition and many times the buyers will waive inspections.

I dont have a crystal ball and I am not expert but if this isnt the definition of a bubble, then what is?

In some areas it’s even more than that... By far... I’m in Miami and the houses have gone up an easy 30% or more in value... Houses that were worth/selling for $300k-$350k are easily now $450-$500k... My next door neighbor bought the house for $400k and literally right before the pandemic it was sitting at around $300kish.. Oh and he dumped about $150k in repairs and updates into it too (new/hurricane roof, impact windows, new air conditioning, all new tiles in the house, new kitchen, new bathrooms etc)..

Where I have my 2nd property, we got the house for $260k about 6 years ago, it’s a 4/2 with 1 car garage, nice spacious backyard, and house was built in 2010 in a nice, quiet and desirable area... Right now I can easily get $500k for it.. And I had seen houses in that same neighborhood sell for $300k-$350k just a year and a half ago..

Another thing is rent has gone up so crazy as well... Right now a 2/2 townhouse is like $2500 a month, there are some houses in that range but they get snagged up quick.. Houses like the one I described above are anywhere from $3500-$4500 a month rent.. It’s so crazy.. I’ve never seen anything like it..

 

[method2madness]

Houses are selling for 30k or more...cash...over the asking price. Many times the units being sold arent in livable condition and many times the buyers will waive inspections.

I dont have a crystal ball and I am not expert but if this isnt the definition of a bubble, then what is?

BlackRock and firms like it are also buying homes and property for inflated prices. I know this is making it hard for individuals to buy homes

 

[machomadness22]

Is it a good time too buy there’s rumors of a crash in 2022 .

Probably better to refi or sell rent and then buy when there’s a crash

 

[FrancisK]

I think you would be crazy to buy at these prices and the market has slowed down over the last month or so. I have noticed that rent prices have followed suit with the price of buying, they’ve gone up with inflation but haven’t gone up in proportion to the explosion of buying prices so that’s not such a bad option.

The inflation part makes it extremely difficult to predict what will happen and ive gone back and forth on it. I could say like Zarati said and inflation will make them increase or we could see a much needed correction and they will drop, I don’t see a crash though because of that same inflation…..even if the money is worth less so it may be actually be a crash but it won’t look like that on paper. A very odd situation right now….

 

[tornquad201]

Am in a bad situation as I was happily renting a house but now my landlord wants to put it in the market , she did offer it to me first before she does . I really don’t want to move

 

[Gunsmith]

My neighbor on each side both sold their homes for $77k and $81k I've what the bought them for 5 and 7 years ago. Everything down here is very inflated
The price of lumber is up just over 200% down here and I have no doubt that it's gonna drop back down significantly in the next 10-12 years (probably less) if you build a house right now you are going lose your ass if you have to sell it.

It's definitely a seller's market , I'd hate to be looking for a house to buy right now

 

[NEMSZ]

LETS PLEASE NOT TURN THIS INOT A CONSPIRACY OR POLITICAL DEBATE..

I’m genuinely interested in the market and what people think, let’s not get this thread closed...

 

[FrancisK]

Am in a bad situation as I was happily renting a house but now my landlord wants to put it in the market , she did offer it to me first before she does . I really don’t want to move

You gotta move or be upside down in a crazy mortgage in two years....take your pick.

 

[tornquad201]

You gotta move or be upside down in a crazy mortgage in two years....take your pick.

Your suggesting renting

 

[opietaylor]

stay where your at and ride this out. after watching literally everything i could on it and reading all the stuff about Blackrock, etc. the consensus i found was 3-5 years.

 

[tornquad201]

stay where your at and ride this out. after watching literally everything i could on it and reading all the stuff about Blackrock, etc. the consensus i found was 3-5 years.

Am hoping the landlord will reconsider we were her only tenets that signed a 3 year lease and never was late .

 

[FrancisK]

Your suggesting renting

Yes, rent has not increased nearly at the rate as buying has. Is there a reason as to why you're opposed to renting? Buying a house isn't buying an asset it's picking up debt, what percentage of your mortgage payment actually goes to the principal? Weigh that vs the responsibilities and cost of ownership against renting. It's one thing if you're buying a house at a good price as a long term investment but right now that is not possible. Even if housing were down find me someone who paid less on the life of their mortgage in comparison to what their house is worth. If you had huge disposable cash then go for it but the idea of "buying" a house by way of a mortgage is a bit of a scam in itself.

 

[FrancisK]

Am hoping the landlord will reconsider we were her only tenets that signed a 3 year lease and never was late .

I hope she does for your sake but you can't blame her if she doesn't, I have a close friend living in one of my rentals and to be honest I'm itching to kick him out. The guy barely pays shit on the rent and is always behind while the house is worth triple what I paid for it only a few years ago. It's not something personal but I'm pretty much his sugar daddy at this point with as little rent as he pays and he can barely afford that.

 

[BALDNAZI]

LETS PLEASE NOT TURN THIS INOT A CONSPIRACY OR POLITICAL DEBATE..

I’m genuinely interested in the market and what people think, let’s not get this thread closed...

“Conspiracy” lol. Everything is a conspiracy until it’s not. I laugh at the masses now that called me and others conspiracy theorists and extremists for years. But lo and behold, here we are

You would do yourself a big favor by looking up “The Great Reset” and how investment banking firms all around the world are buying up residential property at up to 50% premiums. Entire new construction developments snatched up and turned into rental property. Blackrock isn’t the only one. What’s the purpose? You’re smart enough to figure it out, your research will amaze you.

In any case, this thread will get closed inevitably because we can’t have the truth get out now can we? Haha, we live in interesting times indeed

 

[NEMSZ]

“Conspiracy” lol. Everything is a conspiracy until it’s not. I laugh at the masses now that called me and others conspiracy theorists and extremists for years. But lo and behold, here we are

You would do yourself a big favor by looking up “The Great Reset” and how investment banking firms all around the world are buying up residential property at up to 50% premiums. Entire new construction developments snatched up and turned into rental property. Blackrock isn’t the only one. What’s the purpose? You’re smart enough to figure it out, your research will amaze you.

In any case, this thread will get closed inevitably because we can’t have the truth get out now can we? Haha, we live in interesting times indeed

I think you misunderstood what I was getting at.. I’m all for learning about those things and believe those things, how hedge funds and top entrepreneurs manipulate certain markets etc.. I think everyone knows that..

But this conversation is about housing market and pros and cons etc..

I was only saying what I was saying because Zarati started talking about how the pandemic was handled and we’re all meant to be sheep while the rich get richer and manipulate everything etc...

I don’t think we should talk about the pandemic or how it was handled or politics...

Let’s keep the conversation about the housing market, or any market, and how you think (since you probably know more than I do along with other members) we can not fall into the traps of these mortgages and this market that’s going on right now...

What’s our best move? How can we invest relatively safely??