Westside Steve Posted March 26, 2022 Report Share Posted March 26, 2022 https://www.foxbusiness.com/real-estate/housing-market-real-estate-economy-cavuto I've been waiting for this one to blow up for quite a while. Yes I know this is Fox and they've been known to lean toward the right but that doesn't necessarily mean the story is untrue. WSS Quote Link to comment Share on other sites More sharing options...
MLD Woody Posted March 26, 2022 Report Share Posted March 26, 2022 "been known to lean towards the right"... Lol But yeah there probably is a housing bubble. It's not sustainable and it's fucking a lot of people over. Luckily I bought a house when I did and it's up 25%+ now in a short time. Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted March 26, 2022 Author Report Share Posted March 26, 2022 1 hour ago, MLD Woody said: "been known to lean towards the right"... Lol But yeah there probably is a housing bubble. It's not sustainable and it's fucking a lot of people over. Luckily I bought a house when I did and it's up 25%+ now in a short time. Yeah there's that. Don't hold me to a prediction but I get the feeling it won't be long before a lot of suckers are left holding the bag when the house they overpaid for drops back to normal. With inflation who knows if that will happen. WSS Quote Link to comment Share on other sites More sharing options...
Axe Posted March 26, 2022 Report Share Posted March 26, 2022 We've sold everything with the exception of the house we're in and a house on 4+ acres that have on the market. I'm waiting for the bubble to pop to buy our last home. Quote Link to comment Share on other sites More sharing options...
Vambo Posted March 26, 2022 Report Share Posted March 26, 2022 14 minutes ago, Westside Steve said: Yeah there's that. Don't hold me to a prediction but I get the feeling it won't be long before a lot of suckers are left holding the bag when the house they overpaid for drops back to normal. With inflation who knows if that will happen. WSS And then the woody's of the world will be demanding loan forgiveness as they do for student loans. 1 Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted March 26, 2022 Author Report Share Posted March 26, 2022 6 minutes ago, Vambo said: And then the woody's of the world will be demanding loan forgiveness as they do for student loans. Could certainly be related to student loans or anything else you bought and then had buyer's remorse. But mostly I was thinking along the lines of the last housing bubble when people keep refinancing and refinancing and getting deeper and deeper underwater. WSS Quote Link to comment Share on other sites More sharing options...
VaporTrail Posted April 16, 2022 Report Share Posted April 16, 2022 Sadly, I don't think this one is a bubble. The 2008 bubble had prices go up based on speculation, when combined with giving mortgages to a bunch of people who clearly couldn't afford them, the system collapsed. This time, the prices are rising because of inflation, but they're actually backed by real dollars instead of speculation. What this looks like on the ground is that massive financial institutions such as Blackrock are scooping up single-family real estate and renting it out. They aren't going to default on these mortgages. I just bought a house in this batshit market. I paid 25% over what this house was worth pre-pandemic. Some of the houses I looked at were on the market for 4 hours before being purchased sight-unseen. You guys know I am a physician, and I can afford this expense, but the working class is absolutely screwed. The vast majority of millennials will be unable to build any equity via home ownership. I have half a mind to pull all my money out of the stock market and go all in on crypto, metals, commodities, and real estate just because I don't want to support this awful system that most pensions are running off of. 1 Quote Link to comment Share on other sites More sharing options...
MLD Woody Posted April 16, 2022 Report Share Posted April 16, 2022 7 hours ago, VaporTrail said: Sadly, I don't think this one is a bubble. The 2008 bubble had prices go up based on speculation, when combined with giving mortgages to a bunch of people who clearly couldn't afford them, the system collapsed. This time, the prices are rising because of inflation, but they're actually backed by real dollars instead of speculation. What this looks like on the ground is that massive financial institutions such as Blackrock are scooping up single-family real estate and renting it out. They aren't going to default on these mortgages. I just bought a house in this batshit market. I paid 25% over what this house was worth pre-pandemic. Some of the houses I looked at were on the market for 4 hours before being purchased sight-unseen. You guys know I am a physician, and I can afford this expense, but the working class is absolutely screwed. The vast majority of millennials will be unable to build any equity via home ownership. I have half a mind to pull all my money out of the stock market and go all in on crypto, metals, commodities, and real estate just because I don't want to support this awful system that most pensions are running off of. It definitely sucks for any of my friends that didn't already own a house and were looking. They either have to wait and hope for the best, overpay, or get a worse house. I've heard/read a lot about large companies just buying up properties to rent. Seems to be really fucking with supply and demand. Through in some lagging supply chain pandemic issues coupled with new economic issues and not as many houses are getting built, compounding the issue. You really would invest that much in crypto tho? Seems risky Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted April 16, 2022 Author Report Share Posted April 16, 2022 Surprisingly gen Z is more prone to purchase. Millennials are more prone to rent. I wouldn't have guessed that but it makes sense. I have rental properties and I get offers for them every week. It's either individual investors or individual investors in a conglomerate buying up everything they can putting a few bucks into them and renting them at high prices. I really get tired of screwing around as a landlord especially because I don't charge hardly anything. If I were smarter I'd have handyman fix them up and be ruthless about it. I'm guessing that's what the conglomerates do since they're buying dozens if not more properties. A couple of them that I've spoken with one was from Los Angeles one was from Atlanta so... the one from Los Angeles had an agreement with a handyman that's actually done a lot of work for me. Hard to keep up with all the stories and predictions sometimes saying that the prices will continue to Skyrocket some say the bubble is about to burst. "Why Millennials are Renting More — And Why It Works for Them | MYMOVE" https://www.mymove.com/buying-selling/guides/millennials-renting-works/ WSS Quote Link to comment Share on other sites More sharing options...
MLD Woody Posted April 16, 2022 Report Share Posted April 16, 2022 19 minutes ago, Westside Steve said: Surprisingly gen Z is more prone to purchase. Millennials are more prone to rent. I wouldn't have guessed that but it makes sense. I have rental properties and I get offers for them every week. It's either individual investors or individual investors in a conglomerate buying up everything they can putting a few bucks into them and renting them at high prices. I really get tired of screwing around as a landlord especially because I don't charge hardly anything. If I were smarter I'd have handyman fix them up and be ruthless about it. I'm guessing that's what the conglomerates do since they're buying dozens if not more properties. A couple of them that I've spoken with one was from Los Angeles one was from Atlanta so... the one from Los Angeles had an agreement with a handyman that's actually done a lot of work for me. Hard to keep up with all the stories and predictions sometimes saying that the prices will continue to Skyrocket some say the bubble is about to burst. "Why Millennials are Renting More — And Why It Works for Them | MYMOVE" https://www.mymove.com/buying-selling/guides/millennials-renting-works/ WSS Are you sure you're accurately referring to Gen Z here? Because the oldest members of Gen Z are like 25.... I don't think a ton of Gen Z are buying houses yet. And the question isn't whether millennials are renting more, it is why. Even in your article the first reason they listed was budget. Between growing up through multiple world changing / economic changing events, skyrocketing tuition costs, and an older generation staying in the workforce longer... the budget angle is probably the most damning. Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted April 16, 2022 Author Report Share Posted April 16, 2022 4 minutes ago, MLD Woody said: Are you sure you're accurately referring to Gen Z here? Because the oldest members of Gen Z are like 25.... I don't think a ton of Gen Z are buying houses yet. And the question isn't whether millennials are renting more, it is why. Even in your article the first reason they listed was budget. Between growing up through multiple world changing / economic changing events, skyrocketing tuition costs, and an older generation staying in the workforce longer... the budget angle is probably the most damning. No the question or my comment didn't really have much to do with which generation is doing what. I just would have guessed that Generation Z would be most likely to rent making the rental market more attractive to investors. "More Gen Zers Are Buying Homes Than Ever Before" https://www.roostify.com/resources/more-gen-zers-are-buying-homes-than-ever-before Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted April 16, 2022 Author Report Share Posted April 16, 2022 And if that's the correct article meaning if I didn't copy and paste the wrong one part of the projections are the amount of Generation Z planning or wanting to buy. "How Generation Z Will Change the Housing Market (Forever) - Hommati" https://www.hommati.com/blog/how-generation-z-will-change-the-housing-market-forever Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted April 16, 2022 Author Report Share Posted April 16, 2022 "Generation Z vs. Millennials: Who Prefers To Rent a House Instead of Buying? | Qrius" https://qrius.com/generation-z-vs-millennials-who-prefers-to-rent-a-house-instead-of-buying/?bamp-skip-redirect=1 Quote Link to comment Share on other sites More sharing options...
MLD Woody Posted April 16, 2022 Report Share Posted April 16, 2022 21 minutes ago, Westside Steve said: No the question or my comment didn't really have much to do with which generation is doing what. I just would have guessed that Generation Z would be most likely to rent making the rental market more attractive to investors. "More Gen Zers Are Buying Homes Than Ever Before" https://www.roostify.com/resources/more-gen-zers-are-buying-homes-than-ever-before Did you read the article and look at the data though? All that is saying is that they grew the most year over year... because of course they did. They have the most growth to gain as their generation gets older and older. I'd expect them to be the fastest growing generation for homeownership because the bulk of that generation is just now getting to the age where they would consider buying homes. The vast majority of Zoomers are still renting or living at home, because they're the youngest generation, so of course they are. The high percentage of Zoomers that want to own a home at a young age compared to Millennials that actually have speaks more to 1) the financial situation of Millennials and 2) Zoomers not quite understanding yet how expensive a home is going to be than it does any major cultural difference between the two generations, IMO. Quote Link to comment Share on other sites More sharing options...
DieHardBrownsFan1 Posted April 16, 2022 Report Share Posted April 16, 2022 44 minutes ago, MLD Woody said: Are you sure you're accurately referring to Gen Z here? Because the oldest members of Gen Z are like 25.... I don't think a ton of Gen Z are buying houses yet. And the question isn't whether millennials are renting more, it is why. Even in your article the first reason they listed was budget. Between growing up through multiple world changing / economic changing events, skyrocketing tuition costs, and an older generation staying in the workforce longer... the budget angle is probably the most damning. Are they 'like' 25, or actually 25? Quote Link to comment Share on other sites More sharing options...
MLD Woody Posted April 16, 2022 Report Share Posted April 16, 2022 1 hour ago, DieHardBrownsFan1 said: Are they 'like' 25, or actually 25? Depends on who you ask, as generations generally don't have firm beginning and end points. Quickly search shows oldest as 25, another 24, one 26, etc. Hence 'like" or "about" Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted April 16, 2022 Author Report Share Posted April 16, 2022 Actually Woodrow I just looked up some articles out of curiosity about the housing and Rental situation I was surprised that Zoomers lean more towards homeownership than Millennials as it says in the conclusion of the q i r u s piece. Not to Fan any flames of Millennials vs Zoomers vs. Boomers versus anybody. Being the youngest the ridiculously high rental or purchase prices wouldn't seem so much of a shock to them not having grown up with something other. WSS Quote Link to comment Share on other sites More sharing options...
DieHardBrownsFan1 Posted April 16, 2022 Report Share Posted April 16, 2022 19 minutes ago, MLD Woody said: Depends on who you ask, as generations generally don't have firm beginning and end points. Quickly search shows oldest as 25, another 24, one 26, etc. Hence 'like" or "about" Like okay. 1 Quote Link to comment Share on other sites More sharing options...
MLD Woody Posted April 17, 2022 Report Share Posted April 17, 2022 3 hours ago, Westside Steve said: Actually Woodrow I just looked up some articles out of curiosity about the housing and Rental situation I was surprised that Zoomers lean more towards homeownership than Millennials as it says in the conclusion of the q i r u s piece. Not to Fan any flames of Millennials vs Zoomers vs. Boomers versus anybody. Being the youngest the ridiculously high rental or purchase prices wouldn't seem so much of a shock to them not having grown up with something other. WSS I'm saying that conclusion isn't really based on anything. These pieces have compared what millennials are doing and what Zoomers would like to do. Again, the oldest are about 25, the majority aren't buying anything yet. Comparing millennials not buying himes because of their economic situation with Zoomers saying they'd like to own homes is an apples and oranges comparison. One is reality and one is a want. Your initial post in this back and forth said gen z is more prone to purchase but I haven't seen anything really backing that up yet. Maybe in 5-10 years we'll know more, but then everything would need normalized for economic situation. Quote Link to comment Share on other sites More sharing options...
Vambo Posted April 17, 2022 Report Share Posted April 17, 2022 3 hours ago, MLD Woody said: I'm saying that conclusion isn't really based on anything. These pieces have compared what millennials are doing and what Zoomers would like to do. Again, the oldest are about 25, the majority aren't buying anything yet. Comparing millennials not buying himes because of their economic situation with Zoomers saying they'd like to own homes is an apples and oranges comparison. One is reality and one is a want. Your initial post in this back and forth said gen z is more prone to purchase but I haven't seen anything really backing that up yet. Maybe in 5-10 years we'll know more, but then everything would need normalized for economic situation. 2 Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted April 17, 2022 Author Report Share Posted April 17, 2022 So actually anything I post really has nothing to do with taking a shot at millennials. Only trying to get a handle on investors going all-in concerning the rental conglomerate angle. Maybe it's the trending thing to do and somebody has looked into it for the near future. And maybe, actually probably, a lot of people are jumping on a bandwagon. As for my own properties I just wish the tenants would go for a drive and leave cigarettes burning in the bed. WSS Quote Link to comment Share on other sites More sharing options...
VaporTrail Posted April 17, 2022 Report Share Posted April 17, 2022 21 hours ago, MLD Woody said: You really would invest that much in crypto tho? Seems risky Huge risk, and I'm not quite ready to jump into the deep end. I'm still bullish on crypto though. Would hope that diversifying with real estate, precious metals, and commodities would be enough diversification to feel better about it. I know I'll likely be missing out on gains that would be had in the stock market, but my goal is only to live modestly in retirement. Quote Link to comment Share on other sites More sharing options...
jbluhm86 Posted April 24, 2022 Report Share Posted April 24, 2022 On 4/16/2022 at 3:12 PM, Westside Steve said: Surprisingly gen Z is more prone to purchase. Millennials are more prone to rent. I wouldn't have guessed that but it makes sense. I have rental properties and I get offers for them every week. It's either individual investors or individual investors in a conglomerate buying up everything they can putting a few bucks into them and renting them at high prices. I really get tired of screwing around as a landlord especially because I don't charge hardly anything. If I were smarter I'd have handyman fix them up and be ruthless about it. I'm guessing that's what the conglomerates do since they're buying dozens if not more properties. A couple of them that I've spoken with one was from Los Angeles one was from Atlanta so... the one from Los Angeles had an agreement with a handyman that's actually done a lot of work for me. Hard to keep up with all the stories and predictions sometimes saying that the prices will continue to Skyrocket some say the bubble is about to burst. "Why Millennials are Renting More — And Why It Works for Them | MYMOVE" https://www.mymove.com/buying-selling/guides/millennials-renting-works/ WSS I turn 36 this year. I've never owned a house, and I figure if I can't get one by the time I'm 40, it's just not going to happen. Housing prices are fucked. I'm seeing rundown hunks of shit in the heroin neighborhoods of cities in my area going for as high as $100k; houses barely above the threshold of being condemned. Everyone I know that's currently looking for a house keeps saying the same thing: they put a bid in on house after house, only to see corporate investment firms like Black rock swoop in and buy for like 20-30% over value. Middle class Americans can't compete with that. 1 1 Quote Link to comment Share on other sites More sharing options...
DieHardBrownsFan1 Posted April 24, 2022 Report Share Posted April 24, 2022 I watched a youtube yesterday of some lady in Austin Tx who's lease renewal came up. They raised her rent from 900 per month to 1400 per month. That shows the fuking greed of people. 1 Quote Link to comment Share on other sites More sharing options...
MLD Woody Posted April 24, 2022 Report Share Posted April 24, 2022 2 hours ago, DieHardBrownsFan1 said: I watched a youtube yesterday of some lady in Austin Tx who's lease renewal came up. They raised her rent from 900 per month to 1400 per month. That shows the fuking greed of people. No bro, free market Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted April 24, 2022 Author Report Share Posted April 24, 2022 27 minutes ago, MLD Woody said: No bro, free market Dude you guys hate the free market. WSS Quote Link to comment Share on other sites More sharing options...
Axe Posted April 24, 2022 Report Share Posted April 24, 2022 3 hours ago, DieHardBrownsFan1 said: I watched a youtube yesterday of some lady in Austin Tx who's lease renewal came up. They raised her rent from 900 per month to 1400 per month. That shows the fuking greed of people. I'd like to know when the last time her rent was increased as well as a zillow listing of the property. they are generally pretty accurate on rent values. Also, did she thank Bidinflatio, eerrr, Putin's inflatio,,, wait!!! Putin is a direct result of Biden so,,,, 🤨 Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted April 27, 2022 Author Report Share Posted April 27, 2022 https://fortune.com/2022/04/27/how-likely-home-prices-decline-in-every-major-housing-market-corelogic/ 1 Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted May 18, 2022 Author Report Share Posted May 18, 2022 https://www.deseret.com/u-s-world/2022/5/17/23096900/elon-musk-housing-market-crypto-subprime-bubble-pop-crash-dug-own-graves-great-recession Again Elon Musk. WSS Quote Link to comment Share on other sites More sharing options...
calfoxwc Posted May 18, 2022 Report Share Posted May 18, 2022 those who want to buy a home now, keep getting outbid. Maybe a good time to find a lot out in a rural setting at a decent price....., and save up to hire your own subcontractors. If you can find out which of those actually do excellent work. Quote Link to comment Share on other sites More sharing options...
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