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....
Home Prices what the hell is going on?
- Thread starter phantom69
- Start date
Bandit723
Veteran Member
Rumour is to move up to the yooper country. the million dollar retirement homes are going for a fraction of that. just saying....
Current (and so rising) mortgage rates are going to soften the market. Just not sure how much.
Mortgage rates were too low too long and we're paying for it
Mortgage rates were too low too long and we're paying for it
bfmgoalie
Veteran Member
"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
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.
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.
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.
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!
Property is full crazy also!
And why are they building everywhere here in texas. Enough already.
We’re full!
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
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
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.
I'm not the tinfoil hat guy but check out Black Rock, you'll see their name come up frequently.
Bandit723
Veteran Member
Hit up Blank of America. They will fund any over priced mobile home. Most of the foreclosures in our area were from them.
