Home Prices what the hell is going on?

[Zstar]

Remember 2008? just wait it going to come crashing down again, that's why I haven't moved yet.

I agree.

 

[Zstar]

If people weren’t so desperate to buy, sellers would have to drop. People are going to get too deep and then people stop making payments

Can we say 2008?

 

[Zstar]

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!

Florida is right behind you.

 

[Fbird]

well with the new "zero down" mortgages coming back to market....it will take a few yrs before chit hits the fan...but it will be another serious drop

 

[76z28]

well with the new "zero down" mortgages coming back to market....it will take a few yrs before chit hits the fan...but it will be another serious drop

I saw that.. seriously one of the dumbest things I have ever read about.

What do the people buying those houses have to lose if they don't put any money down? They don't have any skin the game.. ESPECIALLY in the neighborhoods it's available in.

 

[Jimmac]

well b of a originates the loans, sells them to Fannie Mae, govt foreclosed when they don't get paid. investors buy the property pennies on the dollar. jim

 

[danbrennan]

Just a quick look at Zillow, it looks like the Canadian houses are priced much higher than equivalent houses in SE Michigan. Although the ones closer to the Detroit River(e.g. Windsor) seem less than the ones near London or Toronto. I wonder why Ontario homes seem to be so much more? Interesting. Converting from Canadian dollars to US dollars brings them down some, but not that much. Of course, Michigan's population has been pretty flat since the turn of the century. Ontario's population has increased by almost 25% over the same time.

 

[Patstuff28]

Part of the reason that Ontario homes are so expensive, is the law of supply and demand. Toronto is one of the most diverse multicultural cities in the world. When new immigrants come to Canada they want to live in the Greater Toronto Area, to be close to their relatives, temples, mosques and/or culture. There is very little land left to build new homes within a reasonable commute to any industry or businesses. The government offers little to zero incentives to settle in any other of the provinces or territories.

 

[danbrennan]

If we sold our house, we could actually afford this island home in Ontario,

A private island in Canada with a 4-bedroom home is on sale for less than the average house in America. Take a look.

Duval Island, a private island in Ontario, Canada, is on the market. It sits on 5.40 acres of land and has a four-bedroom home and guest cabin.

news.yahoo.com

Not too far north of where we currently live. I kind of always wanted my own island!

 

[Da-bigguy]

If we sold our house, we could actually afford this island home in Ontario,

A private island in Canada with a 4-bedroom home is on sale for less than the average house in America. Take a look.

Duval Island, a private island in Ontario, Canada, is on the market. It sits on 5.40 acres of land and has a four-bedroom home and guest cabin.

news.yahoo.com

View attachment 148137

Not too far north of where we currently live. I kind of always wanted my own island!

Holy Carp!! If I win the lottery, I'm buying that ASAFP!!!! That looks gorgeous!!