The 180 day forebearance is halfway over so end of November we should expect a massive crash rippling through all markets...or should we expect more interference to prevent a 2008 crash?
How are you anons preparing for the defaults putting 2008 to shame?
can an expert please tell us what is going to happen to the housing market
They'll do everything in their power to avoid a repeat of 2008. Markets and house prices have to go up to hide the massive inflation from Joe Normal Consumer.
This.
I really need to know
Oy vey not the 16 million ((home lenders))!!!!
allowing 15 million to become homeless would devastate the economy and thus the rich are incentivized to not actually allow it
Time to load my house bags soon
>house prices have to go up to hide the massive inflation
But house prices are already absurd in most of the country these days. Even worse for our leaf brothers up north.
We are in a whole new world of monetary policy in 2020, much different than any environment seen in the past. The fed openly calls their policies "printing money," they don't even hide it anymore. Society as a whole has this believe that the government can create wealth through digits. Its politically impossible for the fed or the government not to destroy the dollar at this point. Any mortgage crisis will just be plugged with infinite money printing. And asset crash pumped by up by money printing, until the inflation sky rockets. But its not 1980, and the fed won't be able (or won't want to) to raise rates to control it. In ten years we won't be using the dollar anymore, but people will still need houses. Get your sub 3% 30y fixed mortgages and buy while you can. its literally free money, free houses.
Well it’s really only a matter of time buying you can’t just kee people in the dark forever hell multiple outlets already did opinion pieces months ago on massive defaults occurring but a lot of people think it’ll never happen still
These aren't all homes of families. These are mostly assholes that bought up 5 homes that are all over leveraged and put on AirBnB. Thats why regular families can find affordable homes on the market.
I mean won’t home prices just falll to the floor come December?
See here’s the insane part to me while the virus still only has a mortality rate of 1% whatever we’re gonna see more death from unemployment and destruction of the market then virus ever could do why the fuck did we even do a lockdown at all?
Well you're also printing absurd amounts of money and have 0-0.25pc interest rates, so what do you expect? Money will flow toward yield. As it stands, people in the US (nay, The West) without any form of assets are going to be left behind when the real bite of unemployment and inflation kicks in. If that expands out into affecting people WITH assets, then your country has completely failed. Trust me, a housing market collapse is the LAST thing that will be allowed to happen. They'll throw many, many more people under the bus before that comes to pass.
at the end of november? that's right after US elections right?
Could be sooner or later depending on when foreberance was embraced
Oh I agree with your summation, it just seems like the Feds are running out of options at this point and kicking the can down the road. The only way people can stay afloat now is taking on even more debt buying $600k+ homes. Thanks!
Nah, they'll just import millions of shitskins and chinks to keep the house prices high.
If there's a crash, everything will dip and no market is safe. And then afterwards we'll have guaranteed BRRRing going even further into overdrive.
Based on the march crash, we know that crypto bounced back quicker than everything else, and on top of that will continue to get more valuable relative to the dollar as hyperinflation sets in. So either way, go balls deep in crypto. Maybe keep an extra bit of cash on the sidelines in case of a crash so you can buy the dip and make a killing, just like last march.
Dodd Frank made it so poor people with shit-tier credit can’t buy houses. Nothing too dramatic will happen. The media may boost a crisis which may shake out some losers, but for the most part the service workers who already lost their jobs were renting under market price anyways so new tenants came in at a higher rent. Interest rates are also too low for people to give a shit.
TLDR - The media wants a crisis. They won’t actually get one.
>t. Residential Appraiser giving personal opinion
I’d also like some user smarter than myself to spoonfeed me what’ll happen with housing.
I’m wondering because I’m about to pull the trigger on buying a tiny home for my gf + little boy. But gf suggested “well with the $15k for that, you could probably just put it on a deposit for a real home...” and I hadn’t even thought about it till she said it, but prices are around like ~$250k here in a pretty damn good location (DC area) and I literally googled housing trend charts and they look remarkably steady over time, even with the big ol’ blip in 2008.
Is there *actually* still house-prices doomsday set to occur, or does that fall under the realm of zerohedge ideas that sound pretty decent but hold no water in the real world?
Fucking hate boomers but I’m just fearing they might have inadvertently been right about the whole “my house is my retirement” shit
what are the interest rates that you're currently seeing? i was thinking now would be a good time to try and nag a 2.5% interest rate mortgage
>why the fuck did we even do a lockdown at all?
We would be much better off if we did a real lockdown from the beginning. Not the half ass bullshit that has drawn this out for a year
I just don't understand why the lenders can't automatically give the home owners that are having trouble a lower interest rate without having to refinance. Bring it down to 2.5% and add 1 year to the end of the loans. They want them to default. Fucking parasites.
The thing you have to keep in mind is that during a housing crash, house prices go down, but it ALSO becomes much harder to get approved for a mortgage, and mortgage rates increase dramatically. This is because the banks are hurting and they're going to squeeze more out of people and only take on the safest bets.
So the end result is that while a house is cheaper, you either won't be able to buy it anyway because you can't get approved, OR you get approved but you get ass-raped by the interest. That's why people are gobbling up houses right now, because even if its a bubble, mortgages right now are easy and dirt cheap, and if hyperinflation happens, that's then actually another bonus because it inflates your debt away to nothing.
>But house prices are already absurd in most of the country these days
1000% agree.
I'm waiting for a correction to upgrade from my starter.
But banks did a lot to hide the actual supply by letting homes sit empty for years.
And with a dead commercial real estate market, I wouldn't be surprised if real estate companies - and companies who rented - allocated their funds to residential.
Just observations.
Thats what I really don't get. The retards that hate all these masks and restrictions. I told them we could all get this over with in 2 weeks. But you have actually made the choice for this to go on for 2 years instead. BUT MUH RIGHTS.
Here is the crazy thing about the american economy, the top 20% or so of income earners are something like 70% of consumer spending (don't know the exact numbers on the top of my head, but it's something like that), so the average person just doesn't matter. There can be mass evictions and they are just going to let it happen because these people aren't worth anything to the capitalist class. What's left of the middle class is going to get bump down to lower class, and he rich get richer. There won't be a collapse, just a stomping down.
The difference between 2008 and 2020 though is that 2008 was just a ponzi scheme going up in smoke with no fundamental issue underpinning it. Whereas in 2020 it's been precipitated by the economic lockdowns.
So yes, while people nowadays can't get houses with dogshit credit and no income like they could pre-2008, you're taking into account all the people who have mortgages and had good steady decent-paying jobs, but don't anymore due to the economic collapse.
They'd rather take the house and the money they paid and do a tax write off/collect via the courts the ones and zeros that never existed.
Yeah, the banks taking their foreclosure properties off the market to decrease supply was some really scummy shit. Honestly at this point I'd just recommend people to start squatting in bank properties that they refuse to list.
>Its politically impossible for the fed or the government not to destroy the dollar at this point.
So is this the delusion or denial phase?
In fact, to add to this I’m actually more concerned about the inherent commitment to a single fixed location more than anything; not even so much the mortgage itself or the total cost still being a fuckton more than a solid tiny home to ride out the next year or 3 and see what happens with the world before I go buying some boomer’s bags and end up getting dumped on by the chinese hacking our grid and EMP’ing us into the stone ages, meanwhile I spent a bunch of my LINK gains on a fucking boomerbox and so feel obligated to stay put as the nukes fall etc. instead of just hitching up the trailer and high tailing it north to Canada or god fuck idk.
Because barring all that bullshit, interest rates look just retardedly low, I’m wondering if it wouldn’t be such a dumb idea to cinch a little bit of that before it potentially “bounces?”
But then that’s the thing....why the fuck would rates have ANY reason to reverse. If anything my realest intuition tells me the most likely thing that’ll happen is rates go deep negative along with every single other asset on earth; not like housing is fundamentally special or something.
MONEY BRINTER GO BRRRR
I was gonna liquidate crypto’s and stocks a little before November and buy a dip of chain and btc after for a long hold
But the biggest fear is what if there is no crash and there’s a delay due to obscene federal intervention similar to how the government ignored the housing bubble and people shorting it for 6 months prior to crash were losing their minds
>they might have inadvertently been right about the whole “my house is my retirement” shit
They are absolutely right. Kids growing up today won't be able to own a house in the future. They will be forced to rent forever. Such is the new paradigm to keep the goyim working. If you can afford your own home you will be among the 0.01% in about 15 years time. Possibly even 10 years.
Personally I wouldn't recommend liquidating crypto and trying to swing a dip. I'd just be ready to put more cash into crypto if it does dip at some point.
Cryptocoin minter go ckckckckck
This right here is the biggest issue we have unemployment at a much higher rate than many might believe with on and off furloughs for some and the stimulus for airline running out soon, my gf got her notice of possible long term furlough for October just now, and others will probably follow due to the ongoing lockdown so with those people in the middle class and the lower class not being able to pay rent or mortgages we should see multi home owner landlords failing to meet payments about right now
Dude even China went back into lockdown after shutting down the original city a full lockdown doesn’t guarantee permanent immunity and its mortality rate is soo god damn low it would’ve been better for the herd to get it and let the old die than do this long term fuck up
Wow. For real, I didn’t think about that, is this actually what happens? Wouldn’t there be a TON of market inefficiency and bajillions of homeless people while just as many perfectly good houses sit dormant while their jew owners deny mortgages to all but a couple richfags despite the completely fucked opportunity cost of doing so?
The hyperinflation thing makes a lot of sense though, one reason why I’m (probably rationalizing, but) taking on a bit more debt than I’d normally be comfortable with rn...... Assuming it happens, those NEETs sitting on a pile of credit cards and unpaid debt will be laughing the hardest out of everyone
Is that a patrol?
I think there's about a year left before the trickle down effect of what's going on now hits housing. Prices rise, boomers will wage war over the retirement homes.
The people that are selling houses now are at crazy high valuations. Maybe some parts of the country will drop others won't. Overall the show must go up and beyond
>Wouldn’t there be a TON of market inefficiency and bajillions of homeless people while just as many perfectly good houses sit dormant while their jew owners deny mortgages to all but a couple richfags despite the completely fucked opportunity cost of doing so?
Yes. Being a landlord in a Commie state is a stupid fucking idea right now.
>See California
The population increase and demand for housing has a hard time keeping up. Even if a city decided to continue to expand it's outlying suburbs to infinity, the infrastructure for the town would become overloaded. The streets and highways through towns are already maxed and underfunded. Theres so much land in the US for new towns and cities to be born but it has to be within a short distance to high paying jobs. Everything is fucked.
Delusional for sure every rich person I know young and old think that the markets perfectly fine and the pandemic isn’t as bad as it’s made to be
Which is some of the dumbest shit I’ve ever heard but they also think masks make a difference
Wait. What do you mean... if what he was talking about in the post I replied to, actually happened, and mortgages were impossible to get approved for, that’d create a glut of involuntary renters in the entire market wouldn’t it? Then you’d ABSOLUTELY want to be one of the few who owns actual property.....can just rent it out to the serfs
What a great pic
Saved