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Started By
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re: Real estate groups urged the Fed to stop rate hikes.
Posted on 10/13/23 at 8:54 pm to CaptainJ47
Posted on 10/13/23 at 8:54 pm to CaptainJ47
Cash buyer? Because who wants to finance at the top of the market at 8%? Sounds reckless unless you are all cash.
0
Posted on 10/13/23 at 8:57 pm to ugasickem
quote:
People have to have places to live, whether they own or rent. Build for rent is huge now. Investors buy up property and hire residential construction business to develop, and build. And then they rent them out. Obviously, this a huge deal for residential construction, because a lot of people won’t qualify for what home, or townhome costs these days, so they rent.
You will own nothing…and love it.
Posted on 10/13/23 at 9:00 pm to questionable
Because historically these aren’t bad percentages to buy at. Housing shortage dictates pricing. It’s supply and demand. Economics 1. Everyone got used to the lowest percentages in history. Guess what’s not going to happen? The price of homes going down. Because the demand is higher than the supply. Interest rates will go up, and really it’s time to buy and get locked in, you can always refinance later if they go down. Stout has been preaching doom and gloom for this industry for years on here. I just don’t see it as reality for now with the BFR stuff being huge. But that’s just me, I could be wrong, but I hope not because I’d probably have to find another job again like I did in 2008 crash.
Posted on 10/13/23 at 9:05 pm to Bayou_Tiger_225
NARS lawsuit is interesting
No more Buyer agent commish on the line
No more Buyer agent commish on the line
Posted on 10/13/23 at 9:07 pm to Sasquatch Smash
That’s the goal, I’m afraid. But my paycheck depends on those getting built. I just paid my property taxes today. Highest they’ve been. I guess own nothing and like it is better than freezing under an overpass. Company I’m with has had 3 consecutive years of their best years ever. Like I said, people need a place to live. And there isn’t enough housing.
Posted on 10/13/23 at 9:12 pm to Bayou_Tiger_225
Largest lobbyist group in the US wants favors. Shocking.
Posted on 10/13/23 at 9:12 pm to dsides
quote:This! Whole lot of investment properties out there with no buyers. The indicator I would follow is if Blackrock is still buying.
Just wait until those Airbnb’s start hitting the market
Posted on 10/13/23 at 9:22 pm to Big Scrub TX
quote:
Real state is the single most advantaged industry by the federal tax code - and it's not even close. It's utterly preposterous that they're asking for more.
And because it is advantaged that created more profit. The higher profits attracted more competition, and the profits went back down.
Posted on 10/13/23 at 9:23 pm to stout
quote:
Won't you all just think of the middle-aged women with no other skills!
Oh, many have other skills.
Posted on 10/13/23 at 9:25 pm to Bayou_Tiger_225
This doesn't seem to jibe with the news from Krugman the other day that Biden has beaten inflation.
Posted on 10/13/23 at 9:36 pm to Bayou_Tiger_225
Let’s be honest, we’re all fricked anyway. Rates stay outrageous and people won’t be able to afford houses. Rates drop a bit and so many people jump into a low inventory market that the price increases will make your eyes cross. We’re fricked.
Posted on 10/13/23 at 9:37 pm to Sasquatch Smash
quote:
You will own nothing…and love it.
Do you really own it if you have to pay a bank every month for 30 years or they take it from you?
Posted on 10/13/23 at 9:38 pm to PetroBabich
quote:
Do you really own it if you have to pay a bank every month for 30 years or they take it from you?
That's not the worst part. You have to pay property taxes forever or the state will take it from you
Posted on 10/13/23 at 9:39 pm to Civildawg
FJB!
Posted on 10/13/23 at 9:50 pm to Bayou_Tiger_225
frick em all!
Posted on 10/13/23 at 9:50 pm to ugasickem
quote:
I could be wrong, but I hope not because I’d probably have to find another job again like I did in 2008 crash.
Start looking. Get out while you can.
Posted on 10/13/23 at 9:52 pm to stout
quote:
You have to pay property taxes forever or the state will take it from you
Yep. frick property taxes. I'd rather have an income tax if that's the alternative.
Ultimately, I'd rather just have it all in a sales tax though. Let everyone pay it if we all must.
This post was edited on 10/13/23 at 9:53 pm
Posted on 10/13/23 at 9:59 pm to ugasickem
quote:
Interest rates will go up, and really it’s time to buy and get locked in, you can always refinance later if they go down.
If it were just about interest rates then yeah. But the added component of inventory being low has overinflated the price of homes. So while buyers can refinance that interest rate, they can't refinance that over inflated purchase price.
Posted on 10/13/23 at 10:18 pm to fallguy_1978
quote:
Ultimately, I'd rather just have it all in a sales tax though. Let everyone pay it if we all must.
I like the idea but unfortunately in reality that fricks people way harder without massive spending cuts. Which we know isn’t going to happen with our spend happy politicians.
Posted on 10/13/23 at 10:21 pm to Bayou_Tiger_225
It’s slowed down probably about 20% here but still humming surprisingly.
2019-2022 was insane.
2019-2022 was insane.
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