Major housing crash coming this winter or sooner

[Overlander]

lol

https://www.cnn.com/2021/03/29/success/ ... index.html

I bet no one profited off of this sale.

The real question is what are the HOA fees?

Clearly, the buyers are idiot schmucks who had no idea how badly they were getting fleeced.

[PhDhawk]

I bet no one profited off of this sale.

The real question is what are the HOA fees?

Clearly, the buyers are idiot schmucks who had no idea how badly they were getting fleeced.

Wonder what kind of storage space it's got? I have some cases of N95 masks I couldn't move that I need to store for the next pandemic.

[Overlander]

The real question is what are the HOA fees?

Clearly, the buyers are idiot schmucks who had no idea how badly they were getting fleeced.

Wonder what kind of storage space it's got? I have some cases of N95 masks I couldn't move that I need to store for the next pandemic.

Cases? Oh wow.

I deal in shipping containers MF!

[Walrus]

Still can't look yourself in the mirror after swindling that poor soul on a property for $90,000?

[Deleted User 89]

still can’t admit you took advantage of family to make a buck during a global pandemic, huh?

[japhy]

Still can't look yourself in the mirror after swindling that poor soul on a property for $90,000?

Someone turned a real estate deal for less than 6 figures in this market?

Are they a graduate of Trump University?

[ousdahl]

[jhawks99]

Thank you for being intellectually honest ousie.

[Overlander]

Still can't look yourself in the mirror after swindling that poor soul on a property for $90,000?

My mirror looks just fine.

What's it like to look in a mirror and see a broke ass cunt?

[Walrus]

Hey, now i get it.
When the inevitable asteroid strike occurs, housing values are going to take a shit.

This Lobster guy is really good at this

Back in 2006 at the Mortgage Bankers conference in Las Vegas, Barry Asmus (an economist) mocked Peter Schiff by saying,"I think this scenario would happen if an atomic bomb landed on LA, Chicago or New York..." Asmus was arguing that there would be no housing crash. Just like a bunch of other idiots, he believed the housing bubble was real growth to the economy. His opponent Schiff, correctly predicted the collapse and made millions from shorting it. Little did the audience know that they were all about to be unemployed from the completely artificial and fraudulent boom in housing bubble.

[Deleted User 89]

this is nothing like the early 2000s

[Deleted User 289]

Hey, now i get it.
When the inevitable asteroid strike occurs, housing values are going to take a shit.

This Lobster guy is really good at this

Back in 2006 at the Mortgage Bankers conference in Las Vegas, Barry Asmus (an economist) mocked Peter Schiff by saying,"I think this scenario would happen if an atomic bomb landed on LA, Chicago or New York..." Asmus was arguing that there would be no housing crash. Just like a bunch of other idiots, he believed the housing bubble was real growth to the economy. His opponent Schiff, correctly predicted the collapse and made millions from shorting it. Little did the audience know that they were all about to be unemployed from the completely artificial and fraudulent boom in housing bubble.

"Just like a bunch of other idiots".
That is a perfect example of why you loose any and all credibility with people on here.
Asmus was far from being an idiot. I figure most if not all intelligent people will tell you they have been wrong and have made mistakes. Even in their field/s of expertise.
I stood in a trading pit with a guy who was a former "math" Professor at M.I.T..
The guy was a fricking genius and probably understood numbers/graphs/trends/etc., as well as anybody who every traded on the C.B.O.E..
Meanwhile, he made his share of poor investment decisions.
You may be a smart guy but my guess is the majority of those who you choose to call "idiots" - are just as smart if not smarter than you are. Asmus included.

[Walrus]

Let's say there's a shoe store that only has 2 shoes for sale in size 9 D. 100 men sized 9 D come into this store because they all need these shoes. What happens to the price of those shoes? That's exactly what is happening right now in some housing markets. There are actually more real estate agents than actual homes for sale. It won't last, housing is going to be really cheap for those who are patient. Massive foreclosures on the horizon.

[Walrus]

Hey, now i get it.
When the inevitable asteroid strike occurs, housing values are going to take a shit.

This Lobster guy is really good at this

Back in 2006 at the Mortgage Bankers conference in Las Vegas, Barry Asmus (an economist) mocked Peter Schiff by saying,"I think this scenario would happen if an atomic bomb landed on LA, Chicago or New York..." Asmus was arguing that there would be no housing crash. Just like a bunch of other idiots, he believed the housing bubble was real growth to the economy. His opponent Schiff, correctly predicted the collapse and made millions from shorting it. Little did the audience know that they were all about to be unemployed from the completely artificial and fraudulent boom in housing bubble.

"Just like a bunch of other idiots".
That is a perfect example of why you loose any and all credibility with people on here.
Asmus was far from being an idiot. I figure most if not all intelligent people will tell you they have been wrong and have made mistakes. Even in their field/s of expertise.
I stood in a trading pit with a guy who was a former "math" Professor at M.I.T..
The guy was a fricking genius and probably understood numbers/graphs/trends/etc., as well as anybody who every traded on the C.B.O.E..
Meanwhile, he made his share of poor investment decisions.
You may be a smart guy but my guess is the majority of those who you choose to call "idiots" - are just as smart if not smarter than you are. Asmus included.

Asmus may have been a math genius, but he was completely clueless on the economy. He lacked common sense and got caught up in a mania. Reminds me a lot of someone else on this board who has a PhD but has no sense of reality around him.

[Overlander]

You are such a clueless turd.
Keep predicting, I predict you keep failing.

[Deleted User 289]

Seems Wally misunderstood my post and has dug a bigger hole in the process.
A) I never stated I felt Asmus was a "math genius".
B) Asmus was not "completely clueless on the economy". My guess is other than the video Wally provided, he has no idea what Asmus has said AND TAUGHT in regards to "the economy" and my guess is Wally is too foolish to understand Asmus knew more about "the economy" than Wally ever will - pretend to.
C) The guy who posts conspiracy videos and presents them as truthful/factual is criticizing someone else for getting caught up in "a mania" and then goes on to say someone else has no sense of reality around him. Hmmmm.

[Overlander]

Since Lobster continues to show his ignorance on the subject, I thought I would do a little digging for him on the real estate market specific to the Palm Springs area:
https://www.mashvisor.com/invest/palm-s ... et-report/
A few tidbits, if you choose not to read:
"Palm Springs has been an attractive location for real estate investing, mostly owing to its standing as a paramount holiday, tourist, and recreational destination. This position has established Airbnb Palm Springs as one of the most successful and profitable vacation rental industries in the entire US housing market." I can vouch for this, as my home pretty much paid for its' self in yearly rental revenue.

"Buying a rental property in the Palm Springs real estate market provides investors with a high profitability in the long run. Natural real estate appreciation for Palm Springs investment properties has accumulated to 147% over the last two decades. This exceeds both the appreciation rate in the California housing market and the US housing market. The prices of Palm Springs homes for sale increased by about 4.9% in the past twelve months, according to data from Zillow. They are forecast to rise by around 4.3% in the upcoming twelve-month period, which puts the expected Palm Springs real estate appreciation rate above the national average for 2020. This means that real estate investors can enter the Palm Springs residential real estate market with confidence and purchase rental properties with a high long-term return on investment." You know, for those of us that like to make a little money with our side hustles.

"In sum, the Palm Springs real estate market 2020 is forecast to remain one of the most profitable locations for investing in rental properties, regardless of your preferred rental strategy." So easy, a broke ass punk can understand it.

Lobster seems to have a burr in his ass about Palm Springs. I assume it is because he simply cannot afford to be there.

[Cascadia]

Since Lobster continues to show his ignorance on the subject, I thought I would do a little digging for him on the real estate market specific to the Palm Springs area:
https://www.mashvisor.com/invest/palm-s ... et-report/
A few tidbits, if you choose not to read:
"Palm Springs has been an attractive location for real estate investing, mostly owing to its standing as a paramount holiday, tourist, and recreational destination. This position has established Airbnb Palm Springs as one of the most successful and profitable vacation rental industries in the entire US housing market." I can vouch for this, as my home pretty much paid for its' self in yearly rental revenue.

"Buying a rental property in the Palm Springs real estate market provides investors with a high profitability in the long run. Natural real estate appreciation for Palm Springs investment properties has accumulated to 147% over the last two decades. This exceeds both the appreciation rate in the California housing market and the US housing market. The prices of Palm Springs homes for sale increased by about 4.9% in the past twelve months, according to data from Zillow. They are forecast to rise by around 4.3% in the upcoming twelve-month period, which puts the expected Palm Springs real estate appreciation rate above the national average for 2020. This means that real estate investors can enter the Palm Springs residential real estate market with confidence and purchase rental properties with a high long-term return on investment." You know, for those of us that like to make a little money with our side hustles.

"In sum, the Palm Springs real estate market 2020 is forecast to remain one of the most profitable locations for investing in rental properties, regardless of your preferred rental strategy." So easy, a broke ass punk can understand it.

Lobster seems to have a burr in his ass about Palm Springs. I assume it is because he simply cannot afford to be there.

Yes

[Walrus]

Look Overland, I live in California. I can tell you this place is going to hell. Higher taxes, higher crime, insane "progressive" agendas -- not a good place for people with families. Once housing tanks out here, I don't think there will be eager buyers knowing the high costs and insane rules are not worth the squeeze. If you really wanted to buy a home right now, Florida would be the best place for people looking for similar weather as Cali.

Also, Palm Springs is a very service oriented area. That area has been suffering even worse than LA because of the lockdowns. That's the reason why properties in PS are declining.

[Leawood]

You are so fucking stupid. You obviously have spent no time in Florida. It is humid. It is hot. And the people suck.

I can see why you would love it.