Major housing crash coming this winter or sooner

[TDub]

i hope you’re right, for personal selfish reasons

i kinda thought it woulda already started happening

They just renewed the mortgage deferment program i believe. We'll be steady until that ends is my guess.

[twocoach]

i hope you’re right, for personal selfish reasons

i kinda thought it woulda already started happening

Yeah, me too. My wife is getting itchy to either do a significant addition to our house or buy a different one for the remaining 10-12 years we have left here.

[Overlander]

Nothing he said is true (about me). Not sure who was referring to.

Don't worry squirt, no one thought he was referring to you when he said someone put together $337K in capital for a real estate transaction.

We knew that couldn't be you.

Awesome.

[defixione]

i hope you’re right, for personal selfish reasons

i kinda thought it woulda already started happening

Yeah, me too. My wife is getting itchy to either do a significant addition to our house or buy a different one for the remaining 10-12 years we have left here.

I'm in the middle of a 16 x 18 addition with a two sided wrap around Ipe deck. We've added a shower to the existing powder room. $165k. Or more . . .

[twocoach]

i hope you’re right, for personal selfish reasons

i kinda thought it woulda already started happening

Yeah, me too. My wife is getting itchy to either do a significant addition to our house or buy a different one for the remaining 10-12 years we have left here.

I'm in the middle of a 16 x 18 addition with a two sided wrap around Ipe deck. We've added a shower to the existing powder room. $165k. Or more . . .

Yikes. My wife wants to add a third card garage and turn the space above it into a giant walk-in closet attached to our bedroom. Then she wants to put in french doors and add a walk out 2nd story deck from our bedroom overlooking the back yard. We're going to start getting some estimates this summer with the project not happening until next year.

[ousdahl]

[Sparko]

Glad I waited and bought masks and sanitizers from Lobster's relatives.

[japhy]

It's an expensive hoax that's for sure.

https://www.yahoo.com/news/20-foot-sea- ... 48771.html

[Deleted User 89]

It's an expensive hoax that's for sure.

https://www.yahoo.com/news/20-foot-sea- ... 48771.html

so dumb, and short-sighted

it’s like aspirin for broken ankle

[Cascadia]

https://www.cnn.com/2021/06/16/homes/us ... index.html


But remember kids, crash is coming in winter 2019 or SOONER!!!

[twocoach]

https://www.cnn.com/2021/06/16/homes/us ... index.html


But remember kids, crash is coming in winter 2019 or SOONER!!!

This should get thrown in with the "rich people screw everything up for everyone else" conversation.

[ousdahl]

How many purchases are single home owners seeking primary residences?

Vs rich folks purchasing additional homes as investments, buying up real estate just cuz they can

[Deleted User 863]

The vast majority are individuals buying primary residences.

[TDub]

Eviction Moratorium....and Mortgage forgiveness programs are both ending soon. Could be an interesting time, we'll see what happens.

[Deleted User 863]

Eviction Moratorium....and Mortgage forgiveness programs are both ending soon. Could be an interesting time, we'll see what happens.

I met with a landlord who owns maybe 40 rental properties. Some of them section 8 to give you an idea of the quality of rental props (25k-75k ish property values)....he said he lost over 75k in rental income last year because some people stopped paying their rent because they knew they couldn't be kicked out....when this moratorium ends he is evicting about 10-15 houses worth of people.

[Deleted User 863]

As far as mortgage forgiveness program....that may not have a huge impact because it is nearly impossible to foreclose on a primary residence if the borrower is making ANY effort to pay or catch up. Even if they are only making occasional payments, it shows an effort to pay and they typically get benefit of doubt that they will continue to try to stay current or get current on their payments.

[jhawks99]

Ends today here. Landlords can get reimbursed by the city/state for back rent. But landlords can't collect if they evict.

[TDub]

So the evicitons are going to all be a month delayed after the checks clear?

[jhawks99]

I think the hope is that the past due rent will be paid and that the renters can pay going forward. If not, then the landlord is free to evict.

[twocoach]

How many purchases are single home owners seeking primary residences?

Vs rich folks purchasing additional homes as investments, buying up real estate just cuz they can

Vacation home purchase growth is outpacing overall purchase growth.

"Vacation home sales rose by 16% in 2020 from the year before, outpacing overall growth in existing-home sales last year which was 5.6%, according to a report from the National Association of Realtors. And the trend has continued into this year with sales already up 33% through April over last year."

https://www.cnn.com/2021/06/17/homes/va ... index.html