Major housing crash coming this winter or sooner

[Deleted User 62]

There was a line that was 2 miles long of people waiting in their cars just for free food in Palm Springs.

Link?

[Walrus]

It's a dangerous time to buy in California, but not necessarily in places like Topeka Kansas. The only safe places to buy right now are in the linear markets.

[Deleted User 62]

And you know what I do and how much I make? How? Not to brag, but I make more than that per year.

Got to give you some credit though -- you found someone even dumber to sell to. Vacation rentals are going to crash as few will be using them. If you didn't already know this, you would not have sold. If you really believed homes would keep going up, you would have held it.

We sold because we decided that we want to live a bit farther in the desert, somewhere around Yucca or the Colorado River long term.

In the meantime, we will continue to flip. Just like we did in Belize, Mexico, and now the desert.

[Deleted User 62]

It's a dangerous time to buy in California, but not necessarily in places like Topeka Kansas. The only safe places to buy right now are in the linear markets.

Bull shit. You seriously have no fucking idea what you are talking about.

[jfish26]

It's a dangerous time to buy in California, but not necessarily in places like Topeka Kansas. The only safe places to buy right now are in the linear markets.

Housing is wild, man.

My cousin and her husband just moved from Southern California to Denver, because of the cost of living. I looked up their new house on Zillow, and saw they still spent twice what the same house would cost in KC.

But they think they've got a deal, because the same house would be 3x their Denver cost, in California.

[Deleted User 62]

It's a dangerous time to buy in California, but not necessarily in places like Topeka Kansas. The only safe places to buy right now are in the linear markets.

Housing is wild, man.

My cousin and her husband just moved from Southern California to Denver, because of the cost of living. I looked up their new house on Zillow, and saw they still spent twice what the same house would cost in KC.

But they think they've got a deal, because the same house would be 3x their Denver cost, in California.

California isn't expensive because it sucks.

[Walrus]

It's a dangerous time to buy in California, but not necessarily in places like Topeka Kansas. The only safe places to buy right now are in the linear markets.

Housing is wild, man.

My cousin and her husband just moved from Southern California to Denver, because of the cost of living. I looked up their new house on Zillow, and saw they still spent twice what the same house would cost in KC.

But they think they've got a deal, because the same house would be 3x their Denver cost, in California.

Yeah, it is wild. Denver has become more a cyclical market since 2012. It's obviously not as high as most of California, but still very expensive. Denver is in a bubble just like LA and San Diego, but the bubble is not as big. For that family, that's probably fine if they were just looking for a place to live. Most of my comments before were in regards to buying in hopes of flipping. I would not recommend anyone do that right now in any city. If you are buying in a linear market for cash flow, that's totally different. Buying rental locations in places like KC for cash flow, is actually not a bad idea (depending on location of course).

My main point here was that housing has become an asset bubble since 1997 and that it tends to revert back to the CPI. When it bottomed in 2012 (in California), it went slightly below the CPI level. I think by 2023 or 2024, homes might revert back to the mean. Housing doesn't crash in free fall as you know -- it takes a lot of time.

Lastly, I think your cousin was wise to get out of Cali.

[Deleted User 62]

You have been wrong since this thread started.
Yet, you still try to play like an expert.

That is why you should seriously just stop.

[Walrus]

I admitted my timing was wrong. You got me there.

However, the crash is going to happen. It's obvious at this point.

[twocoach]

I admitted my timing was wrong. You got me there.

However, the crash is going to happen. It's obvious at this point.

There is always going to be another correction at some point in the future. It's the nature of virtually every healthy market.

[twocoach]

There was a line that was 2 miles long of people waiting in their cars just for free food in Palm Springs. It's not looking good for that area. However, please, please buy another condo in 2020 and try to flip it in 2021. . That would be hilarious to see.

https://www.reuters.com/article/us-heal ... SKCN21R3N3

Here a link to a story about a 1 mile long line of cars waiting for free groceries in Palm Springs 3 weeks after the initial onslaught of the pandemic. I would guess that every metro area in the US had some places giving away food or groceries around that time.

And I doubt many of the folks in that line actually lived in Palm Springs. There's a few gazillion people that live close to there.

[Deleted User 62]

I admitted my timing was wrong. You got me there.

However, the crash is going to happen. It's obvious at this point.

Same as the meteor

[Deleted User 62]

There was a line that was 2 miles long of people waiting in their cars just for free food in Palm Springs. It's not looking good for that area. However, please, please buy another condo in 2020 and try to flip it in 2021. . That would be hilarious to see.

https://www.reuters.com/article/us-heal ... SKCN21R3N3

Here a link to a story about a 1 mile long line of cars waiting for free groceries in Palm Springs 3 weeks after the initial onslaught of the pandemic. I would guess that every metro area in the US had some places giving away food or groceries around that time.

And I doubt many of the folks in that line actually lived in Palm Springs. There's a few gazillion people that live close to there.

That is Van Nuys.....not exactly Palm Springs is it?

[Walrus]

The home market was not "healthy" in 2004-2006 in the cyclical markets. You're missing the point. It was a massive bubble. The market is "healthy" when it crashes back to the CPI.

[Walrus]

My bad, it was Riverside where this happened. Not Palm Springs.

Question for Jeep: If you don't believe a serious correction is coming, why not buy another condo in Palm Springs, right? You and I both know you are not going to do that because it would be unwise.

[twocoach]

There was a line that was 2 miles long of people waiting in their cars just for free food in Palm Springs. It's not looking good for that area. However, please, please buy another condo in 2020 and try to flip it in 2021. . That would be hilarious to see.

https://www.reuters.com/article/us-heal ... SKCN21R3N3

Here a link to a story about a 1 mile long line of cars waiting for free groceries in Palm Springs 3 weeks after the initial onslaught of the pandemic. I would guess that every metro area in the US had some places giving away food or groceries around that time.

And I doubt many of the folks in that line actually lived in Palm Springs. There's a few gazillion people that live close to there.

That is Van Nuys.....not exactly Palm Springs is it?

Ah, you're right. Cant read the tiny writing on my phone today. Been staring at a PC screen too much today.

[twocoach]

My bad, it was Riverside where this happened. Not Palm Springs.

Question for Jeep: If you don't believe a serious correction is coming, why not buy another condo in Palm Springs, right? You and I both know you are not going to do that because it would be unwise.

I would 100% buy another Colorado condo right now if I had the money.

[Deleted User 62]

My bad, it was Riverside where this happened. Not Palm Springs.

Question for Jeep: If you don't believe a serious correction is coming, why not buy another condo in Palm Springs, right? You and I both know you are not going to do that because it would be unwise.

Once again, you have no fucking clue what you are talking about.

I have 3 realtors keeping an eye out for great buys. I would jump right in the middle of one if it pops up.

[Walrus]

My bad, it was Riverside where this happened. Not Palm Springs.

Question for Jeep: If you don't believe a serious correction is coming, why not buy another condo in Palm Springs, right? You and I both know you are not going to do that because it would be unwise.

I would 100% buy another Colorado condo right now if I had the money.

I never said buying in Colorado was bad. It might be good if the price is right and if you're buying for "cash flow." It would be stupid to buy in Palm Springs right now.

[Deleted User 62]

Hey Lobster, since you immediately ran over to verify that my condo was indeed real, I am sure you took a look at the buy date and price as well as listing /selling price.

Pretty dumb, right.