teamgreen02 Posted March 30, 2022 Share Posted March 30, 2022 1 hour ago, Angry ginger said: LOL foreclosures are significanly insignificant and anyone being foreclosed on owns a complete POS or is a complete fucktard given most markets selling in minutes and these people having had their homes for over 2 years with a 10+% appreciation per year. 1 hour ago, Angry ginger said: yes absolutely. we can absorb at this point north of 5% going into foreclosures in most markets. sure pockets will have issues but any widespread crash is IMO highly unlikely in the near term. I've worked with rates at 2 and rates at 9 and people still need homes so rate fears are overblown. it would take a soft job market IMO to really effect the housing market. We are going to see that, it's just a matter of time. These people buying homes that are up a couple hundred K over the last year may be in trouble in the future. Neighbor just paid more for their place than we did in 2013 and it's a shack and needs major work. The current market conditions are just not sustainable. As we get into 5-7% mortgage rates I would expect things to cool down. That still doesn't solve the inventory issue as people with 2-3% rates are not going to want to give that up unless they have significant equity to roll to a new place. People renovating their existing homes instead of moving or building will keep material and labor prices high. 1 Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 30, 2022 Share Posted March 30, 2022 The entitled generation needs to pay more. According to Blackrock. https://www.dailymail.co.uk/news/article-10667971/BlackRock-president-warns-entitled-generation-needs-brace-shock-shortages.html Quote Link to comment Share on other sites More sharing options...
SkisNH Posted March 30, 2022 Share Posted March 30, 2022 2 hours ago, Anler said: Oh yeah $40 trillion dollar debt is cyclical... You're about 1/3 of the way there...include all of the unfunded Liabilities like Social Security, Medicare and The biggest fraud now a days Disability and you are well over 125 Trillion. (Unfixable) 1 Quote Link to comment Share on other sites More sharing options...
racinfarmer Posted March 30, 2022 Share Posted March 30, 2022 7 hours ago, Mag6240 said: Is that cat shit house being bulldozed for a brand new building? That's what is happening a lot around here. And quite honestly it should. From the Twin Cities here, and people have been leaving the cities. The 2020 population change was down for the first time in many years in Mpls and St. Paul, where suburban and outstate cities have mostly seen increases. Gee I wonder why that is?? In the final suburban core tier where I live south of the cities, the houses next to mine were $500-550k 2 years ago, and are now $700-750k. It is crazy to say the least. They want to vote for Lake Street but live in the land of rocks and cows so they don't have to deal with t Quote Link to comment Share on other sites More sharing options...
SkisNH Posted May 24, 2022 Share Posted May 24, 2022 On 3/30/2022 at 10:48 AM, spin_dry said: I’m not believing in any of the media and administration driven bullshit. Oil prices will collapse and food prices will eventually stabilize. It’s like everyone is losing their fucking minds. Everyone seems to forget that this shit is cyclical. Cyclical yes....duration of the cycle? The economy can't tolerate these prices for much longer. It's already destroyed trillions of dollars in the markets. The working class is getting hammered. Quote Link to comment Share on other sites More sharing options...
Anler Posted May 24, 2022 Share Posted May 24, 2022 Now the hedge funds can buy up more real estate! Quote Link to comment Share on other sites More sharing options...
Pete Posted May 24, 2022 Share Posted May 24, 2022 1 hour ago, SkisNH said: Cyclical yes....duration of the cycle? The economy can't tolerate these prices for much longer. It's already destroyed trillions of dollars in the markets. The working class is getting hammered. This is completely unsustainable for the majority of citizens. Anyone that thinks otherwise is a goddamn fool. It’s already begun to collapse and by the end of summer we will be in even more world of hurt all thanks to the left. Fucking anti American bigots of the highest order on full display. But they think no one sees it. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted May 24, 2022 Author Share Posted May 24, 2022 3 hours ago, SkisNH said: Cyclical yes....duration of the cycle? The economy can't tolerate these prices for much longer. It's already destroyed trillions of dollars in the markets. The working class is getting hammered. How much of those trillions that were lost were a mirage to begin with? A byproduct of nearly free money by the feds. Look at how the debt spiraled in recent years. It’s almost fantastical. Then there’s there’s wage pressure related to boomers retiring and the resulting worker shortage. Coupling that with replacement workers being extremely low quality. There’s no quick fix. This has been coming for a long time. It’s finally arrived. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted May 24, 2022 Platinum Contributing Member Share Posted May 24, 2022 (edited) 3 hours ago, Pete said: This is completely unsustainable for the majority of citizens. Anyone that thinks otherwise is a goddamn fool. It’s already begun to collapse and by the end of summer we will be in even more world of hurt all thanks to the left. Fucking anti American bigots of the highest order on full display. But they think no one sees it. Well you sure see it Derpo….glad you’re on the case!!!! Edited May 24, 2022 by Jimmy Snacks Quote Link to comment Share on other sites More sharing options...
SkisNH Posted May 24, 2022 Share Posted May 24, 2022 2 hours ago, spin_dry said: How much of those trillions that were lost were a mirage to begin with? A byproduct of nearly free money by the feds. Look at how the debt spiraled in recent years. It’s almost fantastical. Then there’s there’s wage pressure related to boomers retiring and the resulting worker shortage. Coupling that with replacement workers being extremely low quality. There’s no quick fix. This has been coming for a long time. It’s finally arrived. Just like the financial crisis all that Fed & Govt stimulus does is delay the inevitable.. Combine the high inflation and a down market the real savings of Americans just took a kick in the pants. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted May 24, 2022 Author Share Posted May 24, 2022 (edited) 32 minutes ago, SkisNH said: Just like the financial crisis all that Fed & Govt stimulus does is delay the inevitable.. Combine the high inflation and a down market the real savings of Americans just took a kick in the pants. This is a good time for everyone to get their monthly fixed expenses reduced to a minimum. Those that can will weather this just fine. I cut mine to $1200/month living comfortably out of a van. I could drop to $800 if I traveled less. It’s not a lifestyle for everyone, but after a complicated life of several decades, it fits for now. I love it. I look back and I don’t think there was a better time for me to make this move. The house and cars are liquidated and so are the headaches. This rough time does give people an opportunity to live a simpler life. As far as buying stuff, this will probably be one of my biggest purchase of the year other than a bike. Recently arrived at a friend’s house. I should be able to pack 3 weeks worth of food in it. Edited May 24, 2022 by spin_dry Quote Link to comment Share on other sites More sharing options...
Doomxz600 Posted May 24, 2022 Share Posted May 24, 2022 Noticed a uptick in empty house's lately, things that were occupied month ago. Just up and left, guess it's time to pay the backlog of bills or get out. Quote Link to comment Share on other sites More sharing options...
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