Major housing crash coming this winter or sooner

[Walrus]

Maybe it's because they are white supremacists.

[Deleted User 89]

[PhDhawk]

In this post I will quote all of lobsters quality posts.

[defixione]

[Walrus]

[jhawks99]

Why are you all intolerant of lobbie's lies and bullshit conspiracy theories?

He's the real victim here.

[Overlander]

He IS the only expert in all things financial who doesn't own shit....so.....

[chiknbut]

Woah, didn't expect a big argument after my big city comment. I was referring to places like Seattle, Los Angeles, Chicago, etc.

chickin, if you repost the tweet, I will address it. I honestly don't remember what tweet you are referring to.

Interesting.

[Deleted User 89]

https://www.cnn.com/2021/03/23/opinions ... index.html

[twocoach]

https://www.cnn.com/2021/03/26/business ... index.html

My wife and I have been mulling over changing houses instead of investing in our current house and were told not to even bother trying to buy a house because it is so competitive right now.

So maybe the crash is going to be this winter. Or maybe next. Or maybe seven years from now, who knows. What I do know is that it isn't right now.

[TDub]

^^^^ ive had the same discussions with the the same result/advice. Things are routinely selling for over list. Its crazy. The only good thing aboit it is the rates are so damn good that im in the middle of a refi that drops my percentage by over a full point and only cost me 700 in closing costs. So itll save me money in a couple months instead of years like a a typical refi.

[Deleted User 89]

i’m in the same boat

[Overlander]

Have any of you considered showing the agents or sellers this thread?

[japhy]

We just closed on a house in Colorado Springs yesterday. We paid $15k under asking and got a bargain in my opinion. We watched the market for months. One thing I have noticed, and it worked in this case, during this market freak out some sellers are putting houses on the market for much more than they can get for them. Fishing for suckers. The house we bought initially listed for $100k more than we paid when first listed back in November. Once a house sits on the market for more than 3 months, buyer's realtors will stop showing the place. They think the seller or their realtor isn't worth the effort. At some point the seller gets worn out and agrees to sell for a discount because they aren't getting any offers.

Also watch for homes that are listed as pending and then go back on the market. Those houses often have inspection issues. We saw one house that the seller lost 3 buyers due to issues and had to keep disclosing the bad inspection reports. We were about to get involved when someone jumped on it for more than it was worth to us. If you know how to repair a house you can use that to your advantage. There are still bargains out there but you have to look at less conventional ways to find them right now. Patience and looking for things that make other buyers walk away are the key right now. Once buyers and realtors sour on a place, there is opportunity.

[Deleted User 89]

https://www.cnbc.com/2021/03/26/how-muc ... -city.html

...Almost regardless of location, prices are rising in face of skyrocketing demand...

[Leawood]

If you want to live with James Dobson and Focus on the Family. . .

[japhy]

If you want to live with James Dobson and Focus on the Family. . .

We will see how long they are willing to share a street with me.

We have a pool in the backyard and we are turning an old fireplace into a giant bong. The new house is across the street from a Baptist Church. Naked dope smoking pool parties will start in July.

[Leawood]

What is the elevation of Colorado Springs?

[japhy]

6,000 feet above sea level.

Not high enough to make me dizzy when I walk, but just enough to make my dick shrink a little when I am there.

[japhy]

Link sent with address in case you want to stop in for acclimation on your way to Solstice.