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Posted on 4/24/24 at 10:08 pm to OWLFAN86
HI Owlie, how are you?
Posted on 4/24/24 at 10:14 pm to High C
quote:
Hmmmm, trying to figure out what 2024 has in common with 2008. Can someone help me out?
Nothing
Its certainly interesting that inital jobless claims have been exactly 212k for the past 6 out of 7 weeks
That is statistically impossible
Posted on 4/24/24 at 11:19 pm to Dragula
Idk man, I got a place at 2nd and Carondelet in one of those tall skinny homes for $1,000 a month, 600 sq ft in 2016-17. Not too bad.
Posted on 4/25/24 at 1:39 am to stout
No one is buying 300k-400k homes at 7.5% interest with wages flat and inflation eating at personal incomes. Couple that with higher insurance costs for home owner’s insurance and flood insurance Risk Rating 2.0, a monthly mortgage payment is just too expensive . Just interest rate hikes alone put some people’s dream home out of reach to most middle class home buyers.
Posted on 4/25/24 at 2:36 am to Tarps99
quote:
No one is buying 300k-400k homes at 7.5% interest with wages flat and inflation eating at personal incomes.
But Blackrock is...
YOU WILL OWN NOTHING
This post was edited on 4/25/24 at 2:37 am
Posted on 4/25/24 at 2:55 am to Fun Bunch
quote:
quote: If boomers are going to be selling homes, where will they live? The Villages or Heaven
Or the ground
Posted on 4/25/24 at 6:03 am to stout
So when will prices drop so I can upgrade on the cheap?
Posted on 4/25/24 at 6:08 am to bad93ex
quote:
We've got a few years yet but totally prepared to move into a single-wide as long as I have a full-sized garage
Wife and I are in this situation, she's ready to buy a travel trailer and travel all the time.
She just retired. Earlier than I, but I cant do that yet.
Posted on 4/25/24 at 6:10 am to stout
What goes up…
Boomers offloading homes is the big story here. We’re gonna see a massive housing price correction over the next several years and it doesn’t matter who’s sitting in the Oval Office.
Boomers offloading homes is the big story here. We’re gonna see a massive housing price correction over the next several years and it doesn’t matter who’s sitting in the Oval Office.
Posted on 4/25/24 at 7:12 am to Dawgfanman
There’s a lot of shadow inventory on the market. Large new home builders do huge developments and only list a fraction of the homes to keep the price up.
example video 2:00
example video 2:00
Posted on 4/25/24 at 7:15 am to soccerfüt
quote:
soccerfüt
Where do you live?
Posted on 4/25/24 at 7:18 am to TejasHorn
quote:
Boomers offloading homes is the big story here. We’re gonna see a massive housing price correction over the next several years
There's too many other variables here to say because of x, y will happen.
Posted on 4/25/24 at 8:05 am to Rize
Damn baw, I can't imagine building and moving that soon. I am assuming yall don't have little ones?
Where in HTown now?
West side?
Where in HTown now?
West side?
Posted on 4/25/24 at 8:46 am to stout
quote:
People need all of the equity they can get to afford their next purchase so they are holding on.
Exactly my case.
Built my current home in 2017 and have a 3.2% mortgage. In 2022, I purchased a lot to build what I consider to be my last home.
The lot is paid for and the budget to build will be the proceeds from the sale of my current home. My goal is to have my principal and note on the new home to be about what I have right now.
I'm waiting it out until the following happens:
- substantial drop in interest rates. (4-5% range)
- substantial drop in material cost
Posted on 4/25/24 at 9:12 am to stout
quote:
Seems like the inventory issue is working itself out but that's because no one is buying
I really don't understand this inventory issue. Who is living on the streets that has no where to live? Its second homes, 2nd home buyers are buying OVER 1st home buyers so 1st home buyers can't upgrade or are living in cheaper places.
That doesn't mean "not enough inventory", that's just the market working itself out.
Where you get a major dip or recession in the housing market, is when "flips" and "2nd" homes like in 2008 that have NO ONE living in them drop in value. Over saturation of the market causes a recession.
Posted on 4/25/24 at 9:57 am to stout
The house prices in the hwy 90 corridor around the acadiana area need to come down a lot. We've been priced out of upgrading to a bigger house for several years now. It's even gotten ridiculous in New Iberia, and there is nothing there to be charging people what they are asking for houses there.
Posted on 4/25/24 at 10:06 am to stout
homeowners insurance and property tax is about to surpass my principal.
Posted on 4/25/24 at 10:12 am to stout
There's a reason they've completely opened the border
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