Misc What About this Real Estate Market?
- Thread starter Matt J
- Start date
-
Trouble logging in? Send us a message with your username and/or email address for help.
What does your crystal ball tell you?
I gave up about two years ago predicting the end. It'll happen eventually, but it won't be as bad as 2008.
It's going to be far worse than 08 in my opinion. You will start to see increased foreclosures (already up 39% this year). When inflation hits 7% (probably in June) watch out. Companies will start with employee reduction, those people can't pay their mortgages or rent, then it starts. This economy has been built with a house of cards, REITS, the money comes from the stock market. It is coming, expect major changes. But yes, luxury items are the first to start go.
How would it be like 08? That was the collapse of liars loans and subprime mortgages that aren't being generated anymore. Short sales will be more prevalent.
The current glut of foreclosures is due to people not understanding mortgage forbearance and being unable to make all the back payments owed. It's not really anything to do with inflation, yet.
SoWal is its own bubble. We are on the path of Florida hot spot over development we have seen again and again.
Just my opinion.
Currently the foreclosure rate is historically low when it comes to the 30 and 90 day rates. I do not think you will see a massive foreclosure sell off. I know there have been a lot of cash sales, what I do not know is whether these people are cash out refinacing after the closing date.
Our current Days on Market and absorption rate is really low as well.
I do believe that these higer interest rates will curb a little of the primary home market volume, even though the current rates are historically low comparatively. If you look back at the 80s and 90s rates were much higher. With that being said, home prices are considerably higher as well.
I do not think there will be a crash, a correction or a plateau?
I do know that there are tons of investors, both retail and institutional, picking up parcels in the surrounding areas.
It should be interesting to see though as none of us can see the future yet are all subject to it.
Currently the foreclosure rate is historically low when it comes to the 30 and 90 day rates. I do not think you will see a massive foreclosure sell off. I know there have been a lot of cash sales, what I do not know is whether these people are cash out refinacing after the closing date.
Our current Days on Market and absorption rate is really low as well.
I do believe that these higer interest rates will curb a little of the primary home market volume, even though the current rates are historically low comparatively. If you look back at the 80s and 90s rates were much higher. With that being said, home prices are considerably higher as well.
I do not think there will be a crash, a correction or a plateau?
I do know that there are tons of investors, both retail and institutional, picking up parcels in the surrounding areas.
It should be interesting to see though as none of us can see the future yet are all subject to it.
The same situation in that the liars are the investors, REITs are pushing up values and making housing unaffordable, when they can't rent, what do you think will happen? They are overpaying on purpose, these are not safe investments for those thinking REITs are a good investment. It is inflation. The inflation also includes food shortages, coming soon,, increased, and unjustifiable rents, costs of goods, and everything inflation touches. It is here now, not quite sure where you are not seeing the effects, all grocery is up, everything is more expensive. This is really bad politics by the Biden Administration and Gates, Soros, the rest of the criminals. Just a sad place we are in and what is coming is even worse.