Major housing crash coming this winter or sooner

[Deleted User 104]

Just an FYI, for anyone trying to sell, now is the time. Lots of instability already happening in the housing market, and the interest rate cut in September is only going to make things worse. It will be a great time to buy though.

[Shirley]

Evidence that not everything you post is clueless?

The housing market is definitely softening. Glad I sold my house in January. Got three offers in the first four days it was on the market. Built it in 2012 during the housing crises so it was cheaper to build and sold it 6.5 years later before the housing market here had declined significantly. It appreciated > 10% per year, thank goodness.

Among the issues... Once the housing market began to recover, in addition to the lack of buying power &/or credit worthiness of the lower-income demographic depressing the entry-level new housing market, the profits were much higher for expensive homes so that's what was built. Apartments were built for the lower-income market. And now that people in the lower-income/entry-level category are able to afford a house, the lack of supply has caused the prices for the houses available to increase to the point of being unaffordable, even with mortgage interest rates at their lowest point in 3 years*.

As far as whether or not the housing market will "crash" as lobster predicts? Only time will tell.

(*Time to refinance your mortgage now if you haven't already.)

[seahawk]

People are also moving their money out of the stock market and looking for housing to purchase, even high end housing, but also rental houses.

In this area, the prices for lower end housing after Michael have escalated to the extent that people have had to move to different counties.

[jhawks99]

We close on a house this Friday. Moving sux.

[Shirley]

We close on a house this Friday. Moving sux.

I wondered how your home sale was going. Congratulations, hope the deal goes through.

[jhawks99]

Done deal. Downsizing as both the kids are gone. Most of our crap is in storage. The rest is scattered all over the floor and counters. The mess is stressin me out.

[Shirley]

Done deal. Downsizing as both the kids are gone. Most of our crap is in storage. The rest is scattered all over the floor and counters. The mess is stressin me out.

Sorry, I thought you were "closing" on your old house this Friday.

Moving is bad enough, but when you add "downsizing" to it, OMFG! My heart goes out to you. The work seems endless. It is a bitch! And I don't know about Kentucky, but here in Florida the water table is so high, you can't have a basement. No basement!? Ugh! You're going to be so relieved when you're done.

[seahawk]

Going out to buy Thompson's Water Seal to coat my new deck and more ceiling paint for some downstairs rooms and try to find some string line that fits the string mower as I continue to get ready to sell my house. Like 99, I am certainly tired of the boxes everywhere as I try to sort out stuff to get rid of and put in the tiny storage place. But, I do have a yard with no boats in it any longer. Yes.

[Shirley]

Going out to buy Thompson's Water Seal to coat my new deck and more ceiling paint for some downstairs rooms and try to find some string line that fits the string mower as I continue to get ready to sell my house. Like 99, I am certainly tired of the boxes everywhere as I try to sort out stuff to get rid of and put in the tiny storage place. But, I do have a yard with no boats in it any longer. Yes.

The list of things to do seems endless, thankfully, it isn't. We moved in Jan., and I'm still not done unpacking.

[seahawk]

Had 3 boats and a 2 person ocean kayak to get rid of. Loaded the kayak onto the last boat and trailer--on which the lights no longer worked--on a quiet Sunday, hoping that the cops would all be at the beach during move-in afternoon--and drove it across a large bay to sell to my renters.

[chiknbut]

We close on a house this Friday. Moving sux.

Hey, congrats. That's great news.

I know this is just Lobby's attempt at showing that he can predict the future, but the market has been softening for quite some time now. This is no surprise - it's clearly a buyer's market right now.

[ousdahl]

a buyer’s market right now?

...or this winter?





...or sooner?

[ousdahl]

And if I may actually ask, where is the line drawn between a “buyer’s market” and “major crash?”

[Deleted User 104]

Let's just say, I am well connected to people in the know, and they told me about the coming rate cut in July way back in the early spring. We will be seeing another rate cut of 25 or 50 points in September. I'll be bumping this thread after the crash happens and laugh at all you who get your info from the news.

[twocoach]

Cool, thanks.

[defixione]

I've heard that there could be even two more rate cuts by the end of December.

[Deleted User 266]

Let's just say, I am well connected to people in the know, and they told me about the coming rate cut in July way back in the early spring. We will be seeing another rate cut of 25 or 50 points in September. I'll be bumping this thread after the crash happens and laugh at all you who get your info from the news.

You're "well connected to people in the know"?
You have Powell and/or Mnuchin's cell phone number/s and speak with them frequently?
Those who are truly "in the know" aren't telling you shit.
You're calling for a rate cut of 25 or 50 basis points in September? That's almost as profound as you telling us KU will make the tournament and may win their first and possibly second game in late March.

Lobster - Please stop pretending you have some special insight that other's don't have, unless you care to divulge your source/s.
I'm confident that some/many on here have as much if not more insight than you do.

[Geezer]

He may have stayed in a Holiday Inn Express last night.

[chiknbut]

I've heard that there could be even two more rate cuts by the end of December.

I heard it was four or five.

And I heard about it early in Spring. So there.

[DrPepper]

I heard that late March and early April could have 6 wins for Kansas.