Real estate is over

The government will destroy the dollar before they let home prices fall.

>i'm borrowing a house from a bank that means I own it

I’m pre approved in Portland Oregon ready to take advantage of the drop.

to all those who doubt falling prices: zillow owns houses as a company and they sell them on their sote. they don’t want prices to fall before they unload their own inventory. just recently they’ve started to forecast 2% in the next year, which means they are now slowly rolling out the bad news that prices are in fact dropping.

pic related: this house comes on the market this morning at a price $64,000 leas than what Zillow estimated it to be worth in february. i know the zillow estimates are mostly useless, but in Portland it’s not uncommon to start a bidding war over these craftsmans and now they’re sitting on thr market before being price cut after 2 weeks.

it’s starting.

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>economy crashed
the s&p500 is over 2800 dude, basically a year setback right now is all.

Wouldnt it only drop for faggots renting out their homes? Only landlords will get fucked by this r-right guys

neat that's in the app?

Good. Glad the boomers and speculators are getting punched in the teeth. Thanks for bringing data into it.

Sadly a housing crash is a lose-lose scenario regardless. Yeah, the sticker price is lower, but in that scenario, the banks also tighten their belts and give out very strict loans with high down payments and large interest rates. So yeah, the house price is down, but the bank won't give most people a home loan anymore, so you're still priced out anyway. And that's on top of the fact that banks do supply fuckery like only drip-feeding their foreclosure properties onto the market a little at a time in order to keep the supply artificially low so they can sell for higher than they'd be able to otherwise.

yeah they really fucked us over. china will be more powerful than the US ever was in 20 years and we literally handed the key to them.

still better than paying rent every month for years and not getting any benefit from it. those are the only two options at the moment i believe, unless you're a NEET, in which case, good luck with that.

no benefit from renting except for the benefit of getting to live there, not deal with any maintenance or upkeep, a bunch of amenities, and flexibility to get up and move anytime

>it’s starting.
In PA you can't even buy or sell a house because it is non-essential.

Wont be able to drip feed when there are so many houses

Not him, but landlords don't fix anything ever.
And who the fuck moves that often?
I've always rented atleast 3 years or longer.

If you have a large amount of money saved and a high credit score it's not lose-lose, you can get the loan and because others can't your price is lower

I like how you think the Chinese "middle" class aka Chinese boomers are not going to face an economic crisis of their own with their own debt and stupidity

>housing prices will hit rock bottom any time now
>Says the Coping poor fag every year since 2008.

Just a FYI, boomers never sell at a loss.
Every
They will hold on to houses until prices get better

>until prices get better

they already have the chance to sell at the peak of a massive bubble that's been pumping over a decade with no correction. they will not be selling at a loss but at a huge profit. what kind of better price are they even waiting for

you need to stop living in the slums then. When I put in a service request here shit's fixed same day or next day at latest.

DELUSIONAL
all so called assets will drop like rocks

I think prices are gonna go down because of over extended airbnb people not because boomers selling. Travel is going way down, there is gonna be a big bump in supply. I am only predicting like a 10% drop though, maybe even a little less.

actually when I did live in an actual slum the landlords there were quite responsive to maintenance requests. probably because they liked having someone who always paid their rent on time for a change.

boomers don’t have to sell at a loss for me to get a great fucking deal. my dad bought his houses in the 80s, so he can cut the current price by 50% and still make money. tenant laws are getting fucking crazy and boomers have zero patience for anything they view as socialism and i know boomers who are selling their revenue properties for this exact reason. plus, 1/3rd of air bnb super hosts own 25+ properties = boomers can be over leveraged too.

You don't understand the mindset of a boomer. When that user says "at a loss" it should be interpreted through a boomer mindset. ie, "I won't sell lower than the imaginary arbitrary value I've assigned to my house".
In other words, it doesn't matter if selling that boomer box would still be a 4x ROI. If they're only getting 1.2 mil and they think it should be 2.0, they won't budge. They'll take it to their grave, after which their children or the state will liquidate it for cheap

That's okay if you're already Mr Pennybags, but for most people that means they're still fucked anyway

hasn't happened so far. Fact is everyone needs a place to live, so demand isn't going to drop. might see a slight decline in housing prices but higher rents as landlords try to recoup losses. I think this corona-nonsense will eventually blow over and by next year everyone will have forgotten about it. We'll go back to normal but it'll be a new normal. This isn't going to go on long enough to have a major effect on housing prices.

>Commie tards not understanding inflation

>according to Zillow
Fucking LOL. Never trust realtors, and especially not the megacorps whose express interest is to keep the housing bubble going. They were saying similar shit in 2006/07, even after the subprime mortgage debacle. Countless articles/video evidence out there.

Last time the housing market was just the pin that pricked the overall debt bubble and caused a recession. However nobody learned any lessons because of bailouts and moral hazard, the bubbles are substantially bigger. This time only the pin is different, and housing is just one of the dominoes to fall rather than the initiator.

Wait until 2022 to invest in residential real estate

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You don't get it
Boomers would rather die than sell low.

I lived in the nicest area in Tacoma WA.
I was literally 2 houses down from point defiance. Beautiful area and people. All white of course. But the land lord would not fix anything for any reason. We had a 3ft hole in the ceiling from rain damage and it was only fixed after we moved out.