Home Prices what the hell is going on?

DLY

Member
Sep 17, 2019
97
Guys... with inflation as high as it is, don't expect prices for housing and/or automobiles to come down. I believe that automakers have figured out they don't have to have inventory sitting on the lot, it's becoming a "make to order" business. Much less WIP, and carrying costs for inventory drop drastically. They will actually have more profit with less inventory. People are expecting wages to rise drastically to cover their overspending. See all those 3rd world countries where there is nothing on the shelves to buy, and you have to order things way in advance? We're well on our way to becoming one. Only hurts us old people who are on a fixed income. Only positive I see, is our old cars are going up in value with everything else....
 

Bandit723

Veteran Member
Oct 1, 2016
4,441
Waupaca WI
Rumour is to move up to the yooper country. the million dollar retirement homes are going for a fraction of that. just saying....
 

bfmgoalie

Veteran Member
Jun 14, 2008
3,305
Gansevoort, New York
"My" (HA!) old home was built in 2013 and came in around $360K. And now, "her" home is worth $700K. Yes, Florida - about 10 minutes from Daytona. Come on market crash!!!!!
 

Bandit723

Veteran Member
Oct 1, 2016
4,441
Waupaca WI
Yeah wonder how much of this is due to greedy realtors. Knowing that my area is over priced by a insane amount of snakes in the grass where i live. All of them hate the freddie/fannie and Hud first poke at an offer before the investors get a go at a property.
 

Rosster

Veteran Member
Gold Member
Mar 1, 2020
1,104
Well here in Northern California home prices have begun falling due to 6% interest rates. Also home sales went from sold in 1 day with multiple offers over asking price to maybe one reasonable offer every few weeks with 3 or 4 lowballs. So far price decline has been minimal.
hardest hit is the e try level home market where first time buyers are routinely forced out of the market due to decreased buying power from high interest rates.
 

f-body

Veteran Member
Feb 1, 2000
1,681
Dallas
Hang on until October. Many smarter people than me in the finance world and real estate world think the next crash, downturn or whatever will happen in October 2022.
Property is full crazy also!
And why are they building everywhere here in texas. Enough already.
We’re full!
 

Jimmac

Veteran Member
Dec 24, 2013
872
tucson az
they're finishing up with current projects but supposedly a lot of builders aren't committing to any more builds right now.
listening to the finance show on the radio, they were saying people that are buying houses being built now, they can back out, lose the earnest money and get more back by renegotiating a new price on these semi built homes because the markets slowing and the builders are having to give incentives. jim
 

mrfleet12

Veteran Member
Aug 8, 2014
1,429
West of Chicago IL
My brother is in real estate, a lot of homes are being purchased for cash, and some are large corps buying the homes to rent at crazy prices.
I'm not the tinfoil hat guy but check out Black Rock, you'll see their name come up frequently.
 




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