What do you think? When will the housing market madness calm down to be somewhat normal again?
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What do you think? When will the housing market madness calm down to be somewhat normal again?
The housing prices will never come down if that's what you're hoping. The government printing money like there is no tomorrow is causing high inflation.
If you are asking when will builders catch up to demand it will be at least two years minimum.
Disagree, when the average buyer can’t afford the payment on a 3/4 of a mil home, prices will have no where to go but down. All it takes is for interest rates to rise and the house of cards fallsQuote:
Originally Posted by Iceaxe
Define "normal"...that's the problem, right? I agree with Iceaxe...new construction took a massive hit after the mortgage debacle of '09 and just when it was recovering (somewhat) they got blasted with this latest bullshit.Quote:
Originally Posted by qedcook
People will continue to buy homes at (whatever) price as long as they can afford the payment...300K, 800K, 1.2 Million...it doesn't matter. The slimy wizards of finance will make it work somehow. Prices won't go down until there is a glut of product and that's going to take years in the best of conditions. Conditions are not good right now.
I bought the condo I'm living in '97 for 61K...it's worth close to 300K right now. It's a "starter home". I think the days of buying a dwelling under 200K are over unless you're willing to live in the sticks. I'd say towns that have properties around that price may be a good investment right now.
I'm just glad I bought my place and the 4 rentals that I own at the right time.
I would define "normal" as having 1-2 weeks to decide on a house before it's gone. There might be a downturn (I wouldn't hope for that) but are prices going to slow down at all? Should I buy now even though I don't need a house or wait 2 years until I do need a house?
More detail, dude. Where do you want to buy? How big a house? What's the budget?...look at the downturn as it was after '09, but things are a bit different now. What could make that happen again? Housing prices actually began to rise considerably when the Covid thing went down.Quote:
Originally Posted by qedcook
Tell us what the plan is...buying a house for 800K that sold for 300 just 5 years ago might not be a good idea, but buying one that needs quite a bit of help at a lower price might be the thing to do now. You wanna live in the city, suburbs, country?
You don't seem to understand inflation... that's why over the long haul prices never go down. They might fluctuate down over a short term but the mean line on the graph is always going up.Quote:
Originally Posted by Reedus
Quote:
Originally Posted by Iceaxe
Attachment 96691
Don’t you just love the gas lighting and messaging of the narrative from the media? ������
I reckon the inflation will get to a certain point and then slow back down to "normal". But who knows? This may be it, man...they've been predicting this since Reagan was in office. It could be that the wizards that pull the handles have it all figured out, like a 20 year plan. In other words...the "looming financial crisis" won't be a chaotic mess but rather a well managed affair. God only knows how they'll be moving chess pieces around 50 years from now, huh?
I'd say the goal is to get rid of currency as we know it, with them in complete control. I remember talking to buddies about this very thing in the 80s...we considered it ridiculous then but it sure doesn't seem ridiculous now. Seems like a hell of a lot of work to pull that off, huh?
That last sentence was sarcasm.
Inflation does have one advantage, and that is it wipes out debt.
If the US were to suffer the same inflation that Venezuela is experiencing you could borrow one million dollars today and pay it off in 10 years for one English pound, provided the pound remains stable.
I guess that's one way to eliminate all those student loans the Liberals keep wanting to forgive.
FWIW - Venezuela has experienced 10,000,000 percent inflation. What was $1 million in 2016 isn't worth $1 today.
Just think, using the Venezuelan model the US could easily erase its $28 trillion dollar debt in less than 5 years..