Just sharing the latest reported numbers in the article which is a big jump from the number a year ago. How many here believe it's going to get a lot worse? How many here are prepared to jump on any of these "bargains"? Just curious what the overall consensus is in here.
https://www.dailywire.com/news/home-...pFYE-l7FK-CBqs
https://www.cnn.com/2023/03/08/homes...age/index.html
CNN is probably the most conservative on the housing deficit at 6.5 million last year. This does not count all the "unhoused" illegals crossing our borders daily. I look for the trend of big business equity groups buying the for closers up as fast they can. I doubt it's going to be a whole bunch of good deals in TN r Florida...maybe where you live?
I did very well buying properties after the crash in 2008,,, I'm set so not going to worry about it this round ,, ,,, if you have the money to invest and can wait till it swings then you should make money ,, but will have to say this market just feels all weird for some reason ,,
Based on my conversations with two different lenders a few weeks ago trying to by the family out of the Condo this time is NO WHERE near as easy to secure loans as it was in 2008.Originally Posted by River-Bandit
So 32,938 compared to 30,303 in the county. 8%. So 2,635 more in the country for people to jump on. Really.
There won't be any bargains. Banks will foreclose on homes then resell them for themselves. Banks used to let home go cheaply, but they got wise to the profits they could make in addition to the insurance money they made on the defaulted mortgage.
No doubt about that ,,, they tightened up lending regs greatly and they needed to for damn sure after the 08 mess,,,, I will say this whole market just feels weird to me ,,, I know what it should look like and it does not ,,, sooner or later the ice has to break below our feet and we will see what is really below
We've basically been priced out of the market in my area. We're waiting for an eventual downturn but I'm not so sure that will happen as soon as everyone hopes/thinks. The wild card is the corporations that own so many homes right now. If they decide to dump them, things could get crazy and prices could decline quickly due to a surge of supply. If they hold what they have and decide to add some new foreclosed inventory to their portfolios, I think we see more of the same. Interesting times.
I saw something about congress pushing a landlord bill. If it involves corps only being allowed so many properties before being hit with crazy tax then I’d think it would not seem unlikely for the market to get flooded and prices to come back down to affordable prices.
https://www.globest.com/2023/12/08/c...20240219121613
Last edited by Delta Bass Fool; 03-19-2024 at 11:19 AM.
'94 Charger Foxfire 180VF '96 Suzuki DT150S BASS
Good point... wasn't aware of this.
I just edited the last post with this link.
https://www.globest.com/2023/12/08/c...20240219121613
Honestly I try not to get political as many take sides and favor one party or another and easily get offended if you say anything that opposes their team. Anyway in my opinion it’s just that, they are playing politics. As in let’s bring up this bill that we know has no chance of passing because they don’t have a majority vote but will make them look good because it’s an election year. Then when they get votes for elections those bills are long forgotten about. Happens time and time again.
'94 Charger Foxfire 180VF '96 Suzuki DT150S BASS
What happens when all the free money drys up. 3 Trillion dollar give away biggest mistake ever made to the US economy.
Who’s getting this money, I want some. I could use a few new toys.
'94 Charger Foxfire 180VF '96 Suzuki DT150S BASS
You could spring for that 24 oz carpet then
Hi Mike.
You could spring for that 24 oz carpet then
'94 Charger Foxfire 180VF '96 Suzuki DT150S BASS
Hi Mike.
My county is not big and I have three foreclosure orders this week to research.
Not even close to what it was from 2005-2010. But it is an indicator of things changing.
Bryan McDonough
2023 Nitro Z21 XL
Nitro Team
Lots of people are house poor. Only way they could get a house in the past 3-4 years was to overpay and it stretched them out way too thin. Corporations like Blackrock have screwed the housing market for generations. It's a sad state of affairs when an up and coming family can't afford to purchase a starter home because a corporation outbids them or has the leverage to pay cash in full. If we had politicians that were worth anything they would regulate this but they are being paid off so they do nothing about it.
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