America's Looming Housing Crisis

[BigMoneyGrip]

China’s crisis is even bigger

 

[Orange cream shake]

Also for those of you not privy, the market is always like this around this time of year. We won’t see if there will be a down turn until around spring when it’s normally the time people buy homes.

 

[BigMoneyGrip]

846 Springside Ct NE, Atlanta, GA 30342


1/17/1996 Sold $456,700
12/8/1998 Sold $540,000
9/20/2021 Listed for sale $950,000


That's one helluva investment. If that doesn't show you that homeownership is key to true wealth in this country, I don't know what will...

Facts

 

[Pseudonym]

I suspect something big is going down as well. Now with what Zillow Is doing is going to forever change the game. American property is going to be bought up by the wealthy and corporations exclusively.

We jumped in right on time. This was supposed to be a starter house but since we built it and it has pretty much everything we want, we think we’re just gonna stay here forever

 

[UberEatsDriver]

it’s one of the primary ways and it passes down wealth. Even if u own a building or land. What’s happening now is a purposeful effort to prevent ownership and soon coerce ownership from the population. It’s apart of “sustaiinable development “. They governments and regulatory bodies say this publicly.

I understand what you saying but I also want people to know that if one Avenue is “looming” there are others that they can look into.

 

[UberEatsDriver]

A lot of you guys just waiting for the market to crash should explore other avenues because waiting for a market that still hasn’t crashed yet is just you wasting time. Explore all avenues of investments and see where you fit. If you have a skill that can make you a business owner then that’s great also.

 

[hashmander]

they need to convert some of these useless malls to housing.

 

[the bossman]

A lot of you guys just waiting for the market to crash should explore other avenues because waiting for a market that still hasn’t crashed yet is just you wasting time. Explore all avenues of investments and see where you fit. If you have a skill that can make you a business owner then that’s great also.

nikkas have been singing the same "stock market is about to crash" song every year since 2018

Since COVID hit everybody and they grandma thought housing market was gonna crash this year. Oh just wait til the moratorium ends. Moratorium came and went. Market is still crazy.

It's clear the government is not going to let either market fail. It would jeopardize the economic recovery especially as so many boomers are retiring in droves

 

[UberEatsDriver]

nikkas have been singing the same "stock market is about to crash" song every year since 2018

Since COVID hit everybody and they grandma thought housing market was gonna crash this year. Oh just wait til the moratorium ends. Moratorium came and went. Market is still crazy.

It's clear the government is not going to let either market fail. It would jeopardize the economic recovery especially as so many boomers are retiring in droves

Right and this is how people end up in traps. This issue right here is much different than the 08 crash which is why I’m not waiting for it I’m just moving on in other places

 

[UpAndComing]

Think about quality of life, jobs, pay, social aspect...its not that simple

Excuses Excuses Excuses

People need to get out of their comfort zone coc00n if they want to live a better life. Everyone rushing to a comfort zone area, and wonder why the prices are skyrocketing
Do you want to buy a home at a cheaper price, never have to rent, easier mortgage, and land? Ok then

 

[Azul]

Them, ans banks, is why you not able to save to build wealth. They want you as a permanent tenant.

I've never been a tenant in my life. I went straight from the family home to owning.

 

[Orange cream shake]

Right and this is how people end up in traps. This issue right here is much different than the 08 crash which is why I’m not waiting for it I’m just moving on in other places

People don’t realize all the programs available to homeowners to keep them in their home. Banks arent handing out predatory loans left and right like they use to. Buyers are smarter because of what happened in 2008 which is why so many buyers hit the market in 2020. So many people have been sitting back waiting on a market crash. When they saw those interest drops everybody applied for a mortgage. Will the market correct itself? Sure. when? Nobody knows but when it does we will still be competing with investors. All those foreclosures people are waiting on. Guess what??? The investors are waiting too with cash. I work with a small
Population of loans and about 80% of the time the buyer is a llc.

 

[GatorStaceyAdams]

I was golfing last month and we got paired up with this white guy.

Says that he looked at a house up in CT on a Wednesday during his lunch break. Says that his broker called him that night and told him he had to make an offer (25% over ask) by midnight or that he would definitely lose the house. He paid 27% offer ask, waived inspection, and his offer was accepted. His wife never even saw the house. And he spent the round of golf bragging how he 'Beat out 20 other offers'.

Unfortunately this is the current mindset for many- 'diligence be damned!'.

And to the people saying don't wait for the crash- I work in investments, and 'panic buying' is much worse than 'panic selling'. While we may not see the crash that we experienced in '08 (once in a lifetime crash), we will definitely see a correction as we always do. So we may not see a ton of foreclosures, but a large amount of these recent buyers are going to end up 'under water' and sort of stuck. So those starter homes are going to end up being forever homes.

Even if prices don't drop precipitously , there will definitely be a point time when owners i.) Aren't competing against 20 offers, and ii.) Aren't waiving inspections. These two components alone drive a large portion of ROI.

 

[BmoreGorilla]

nikkas have been singing the same "stock market is about to crash" song every year since 2018

Since COVID hit everybody and they grandma thought housing market was gonna crash this year. Oh just wait til the moratorium ends. Moratorium came and went. Market is still crazy.

It's clear the government is not going to let either market fail. It would jeopardize the economic recovery especially as so many boomers are retiring in droves

Longer than 2018 tbh. nikkas was saying that on here when I joined this site in 2014

 

[Prolific]

nahhhhh. that's barely a double up after 20 years lol. you are better off putting that in a 401k or maybe stock market if you wanted the best investment. but yeah if you are just living there and not into investing i guess it's not a bad return.

Barely a double up?!!!!


Breh are you crazy?! Whoever bought that house in '98 has been paying a mortgage on it. Probably a 30 year loan, so that shyt is probably close to being paid off. That's almost a million dollar come up after 20 years....