Anler Posted May 10, 2021 Share Posted May 10, 2021 "experts" say no but houses are selling at all time high and lumber prices are adding another $36,000 to the price of a new house. Was just listening to a story about how millennials are buying houses (over priced) they probably can't afford on their salaries with as little money down as possible. This sounds awfully familiar to another movie I saw about 12 years ago. 2 Quote Link to comment Share on other sites More sharing options...
Snake Posted May 10, 2021 Share Posted May 10, 2021 3 minutes ago, Anler said: "experts" say no but houses are selling at all time high and lumber prices are adding another $36,000 to the price of a new house. Was just listening to a story about how millennials are buying houses (over priced) they probably can't afford on their salaries with as little money down as possible. This sounds awfully familiar to another movie I saw about 12 years ago. Do you think any one of those fucking lame brains know ANYTHING about ANYTHING prior to January 2016? Quote Link to comment Share on other sites More sharing options...
Anler Posted May 10, 2021 Author Share Posted May 10, 2021 1 minute ago, Snake said: Do you think any one of those fucking lame brains know ANYTHING about ANYTHING prior to January 2016? Millennials? No. But bankers should remember. But hey everyone is making money so stfu about it, amirite? 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted May 10, 2021 Share Posted May 10, 2021 14 minutes ago, Anler said: "experts" say no but houses are selling at all time high and lumber prices are adding another $36,000 to the price of a new house. Was just listening to a story about how millennials are buying houses (over priced) they probably can't afford on their salaries with as little money down as possible. This sounds awfully familiar to another movie I saw about 12 years ago. I have been warning. This time around refi on a loan won’t bail you out like it did 12 , 20, 35, 40 years ago. oh and dump your crypto before many countries try to kill it due to being a place where hackers get their ransomware pay days. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 10, 2021 Share Posted May 10, 2021 13 minutes ago, Anler said: Millennials? No. But bankers should remember. But hey everyone is making money so stfu about it, amirite? Isn't that when you should be concerned? Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted May 10, 2021 Share Posted May 10, 2021 15 minutes ago, Anler said: Millennials? No. But bankers should remember. But hey everyone is making money so stfu about it, amirite? The crisis of 2009 was more about fraud than a bubble. Quote Link to comment Share on other sites More sharing options...
Anler Posted May 10, 2021 Author Share Posted May 10, 2021 4 minutes ago, ActionfigureJoe said: The crisis of 2009 was more about fraud than a bubble. And? Quote Link to comment Share on other sites More sharing options...
Anler Posted May 10, 2021 Author Share Posted May 10, 2021 10 minutes ago, Mainecat said: I have been warning. This time around refi on a loan won’t bail you out like it did 12 , 20, 35, 40 years ago. oh and dump your crypto before many countries try to kill it due to being a place where hackers get their ransomware pay days. I have a trailing stop loss on my crypto. But it's still going up so I am riding it out. Quote Link to comment Share on other sites More sharing options...
Im4snow Posted May 10, 2021 Share Posted May 10, 2021 Inventory, or lack thereof, tells much of the story. 1 Quote Link to comment Share on other sites More sharing options...
SSFB Posted May 10, 2021 Share Posted May 10, 2021 31 minutes ago, Snake said: Do you think any one of those fucking lame brains know ANYTHING about ANYTHING prior to January 2016? Well some of them should, the older Millenials are in their early 40s now. 1 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted May 10, 2021 Share Posted May 10, 2021 About another month or so then I hope it crashes hard. Booyah! Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 11, 2021 Share Posted May 11, 2021 26 minutes ago, Mainecat said: I have been warning. This time around refi on a loan won’t bail you out like it did 12 , 20, 35, 40 years ago. oh and dump your crypto before many countries try to kill it due to being a place where hackers get their ransomware pay days. Shut the fuck up. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted May 11, 2021 Share Posted May 11, 2021 34 minutes ago, Anler said: And? There aren’t any clear signs of fraud. This seems more about about pure demand. If you can find the fraud in both valuation and the MBS market then show me. Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted May 11, 2021 Share Posted May 11, 2021 1 hour ago, Anler said: "experts" say no but houses are selling at all time high and lumber prices are adding another $36,000 to the price of a new house. Was just listening to a story about how millennials are buying houses (over priced) they probably can't afford on their salaries with as little money down as possible. This sounds awfully familiar to another movie I saw about 12 years ago. Top it off with rather fact anything new under 550k is a total pos now days .all hollow core doors cabs don't even have dove tale joints straight apartment grade boxes with nice looking doors . Mdf trim . "LUXURY" vinyl plank floors everyplace plastic windows with mdf jambs just fucking junk that will be falling apart in just a few short yrs Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted May 11, 2021 Share Posted May 11, 2021 50 minutes ago, Mainecat said: I have been warning. This time around refi on a loan won’t bail you out like it did 12 , 20, 35, 40 years ago. oh and dump your crypto before many countries try to kill it due to being a place where hackers get their ransomware pay days. Lol now visa has a card you can use crypto to pay your bills and . But yeah crioto is going away lmfao . The reason it exists is to not have to deal with govenment bullshit monetary systems . They can't kill it the more they would try the more popular it will become. But I get it you are old and just don't understand Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted May 11, 2021 Share Posted May 11, 2021 37 minutes ago, Im4snow said: Inventory, or lack thereof, tells much of the story. With 2.5 on a 30 yr is it any shock there is no inventory? Rentals are going to be hard to find in short order . Almost every one I know with single family rentals have cashed in . Pretty sure they say 1 point in the interst rate drops the value of homes like 30 grand ? Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted May 11, 2021 Share Posted May 11, 2021 2 minutes ago, Ez ryder said: With 2.5 on a 30 yr is it any shock there is no inventory? Rentals are going to be hard to find in short order . Almost every one I know with single family rentals have cashed in . Pretty sure they say 1 point in the interst rate drops the value of homes like 30 grand ? The realtor that I bought from contacted me recently about possibly selling. She told me people are showing up with $30-50k in cash to pay above the asking price just to secure a home. It’s getting desperate here. Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted May 11, 2021 Share Posted May 11, 2021 35 minutes ago, Zambroski said: About another month or so then I hope it crashes hard. Booyah! Yeah I am flush and waiting to swoop . In a much better place this time around to take advantage of the situation. Few of my customers made millions on the 08 crash. I spent 60 days in FL with one of them as he was buying enough forclosed units to get controlling votes of the board and make them rentals till the market turned . He was buying 5 or 6 at a time from the banks and litteraly steeling them . Most the people just left all there shit because they were vacation places. He had just sold new York baggel chips and old London foods before the crash and had a few million to play with Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted May 11, 2021 Share Posted May 11, 2021 Just now, ActionfigureJoe said: The realtor that I bought from contacted me recently about possibly selling. She told me people are showing up with $30-50k in cash to pay above the asking price just to secure a home. It’s getting desperate here. Yep that is going on all over . Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted May 11, 2021 Share Posted May 11, 2021 2 minutes ago, Ez ryder said: Yep that is going on all over . I see the price curve beginning to flatten, but there some clear signs that this isn’t a bubble. Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted May 11, 2021 Share Posted May 11, 2021 Just now, ActionfigureJoe said: I see the price curve beginning to flatten, but there some clear signs that this isn’t a bubble. It will pop people are way overpaying . Interst goes up just 2 points everything sold in the last 2 yrs will be way way under water. And if we learned anything in 09 was that there really was no major consequence to saying fuck it and walking away . The vacation homes will be first again . Fucking people gave me 110k more for my cabin than the neighbors sold hers for a yr before and they are pretty equal. And she made out like a bandit the neighbors were sort of pissed at me after closing the assessor was knocking on all there doors lol Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted May 11, 2021 Share Posted May 11, 2021 Just now, Ez ryder said: It will pop people are way overpaying . Interst goes up just 2 points everything sold in the last 2 yrs will be way way under water. And if we learned anything in 09 was that there really was no major consequence to saying fuck it and walking away . The vacation homes will be first again . Fucking people gave me 110k more for my cabin than the neighbors sold hers for a yr before and they are pretty equal. And she made out like a bandit the neighbors were sort of pissed at me after closing the assessor was knocking on all there doors lol The crisis of “09 was driven primarily by fraud in liars loans and heavily leveraged MBS. That’s not present in any large form today. Millions of loans were written with no proof of borrowers income. Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted May 11, 2021 Share Posted May 11, 2021 2 minutes ago, ActionfigureJoe said: The crisis of “09 was driven primarily by fraud in liars loans and heavily leveraged MBS. That’s not present in any large form today. Millions of loans were written with no proof of borrowers income. And now they are way way way over valuing homes to get them in to the loan . The apprasers not playing ball are not getting the work . The inspectors finding issues are black listed. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted May 11, 2021 Share Posted May 11, 2021 3 minutes ago, Ez ryder said: And now they are way way way over valuing homes to get them in to the loan . The apprasers not playing ball are not getting the work . The inspectors finding issues are black listed. Havent seen any of that here. Just a lot of people flush with cash and willing to pay a premium. Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted May 11, 2021 Share Posted May 11, 2021 1 minute ago, ActionfigureJoe said: Havent seen any of that here. Just a lot of people flush with cash and willing to pay a premium. I see it weekly . I work with a lot of these people. 1 day of our week is nothing but dealing with inspectors make tge buyer feel warm and fuzzy hit lists for realtors. There is plenty of talk and jokes about what is going on Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.