spin_dry Posted August 18, 2022 Share Posted August 18, 2022 I’m seeing excellent deals on land. both developed and not https://www.cnbc.com/2022/08/18/home-sales-fell-nearly-6percent-in-july-as-housing-market-slides-into-a-recession.html Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted August 18, 2022 Share Posted August 18, 2022 Likely to get much worse. Quote Link to comment Share on other sites More sharing options...
ICG Posted August 18, 2022 Share Posted August 18, 2022 That presentation is biased + skewed... The market has not been building lots of new homes due to the excessive material costs... It's a rarity to see new road construction and subdivisions... The market won't bear the costs in general. Most of the housing inventory was or is or existing.. How do you get realistic parallels, when there is almost NOTHING in the market to buy? My house search for the last 2.5 years has been disappointing to say the least. The 1980's did have nice new hi end spec houses being built... That market was jumping producing product. Since the last crash in 2007, it's been a sad market.... Sad, that Covid 19 awoken a sleeping , almost dead market. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted August 18, 2022 Author Share Posted August 18, 2022 13 minutes ago, ArcticCrusher said: Likely to get much worse. Opportunities. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted August 18, 2022 Author Share Posted August 18, 2022 3 minutes ago, ICG said: That presentation is biased + skewed... The market has not been building lots of new homes due to the excessive material costs... It's a rarity to see new road construction and subdivisions... The market won't bear the costs in general. Most of the housing inventory was or is or existing.. How do you get realistic parallels, when there is almost NOTHING in the market to buy? My house search for the last 2.5 years has been disappointing to say the least. The 1980's did have nice new hi end spec houses being built... That market was jumping producing product. Since the last crash in 2007, it's been a sad market.... Sad, that Covid 19 awoken a sleeping , almost dead market. Builders here in Wisconsin can’t find workers. It’s critical mass. Quote Link to comment Share on other sites More sharing options...
snoughnut Posted August 18, 2022 Share Posted August 18, 2022 24 minutes ago, ArcticCrusher said: Likely to get much worse. I doubt it, it may decline a bit but alot of people think we're going to see rock bottom bargains like we did in 08' and shortly thereafter. We are not in a housing crisis, prices may drop a little but you won't see anything like what we saw in the Great Recession. Quote Link to comment Share on other sites More sharing options...
Gold Member poopooforme Posted August 18, 2022 Gold Member Share Posted August 18, 2022 The house I built 5 years ago for 400 grand would cost a million dollars to build today. Let that sink in. 1 Quote Link to comment Share on other sites More sharing options...
spin_dry Posted August 18, 2022 Author Share Posted August 18, 2022 1 minute ago, snoughnut said: I doubt it, it may decline a bit but alot of people think we're going to see rock bottom bargains like we did in 08' and shortly thereafter. We are not in a housing crisis, prices may drop a little but you won't see anything like what we saw in the Great Recession. I agree. Until there’s a solution to the housing shortage, I don’t see housing prices collapsing. The rental market is insane. Both finding a place and the price. Like I said, I’m seeing tons of good deals on land right now. Nobody is building Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted August 18, 2022 Share Posted August 18, 2022 11 minutes ago, poopooforme said: The house I built 5 years ago for 400 grand would cost a million dollars to build today. Let that sink in. Some think that will be sustainable. Its hard to get away from the long term trend. Quote Link to comment Share on other sites More sharing options...
Carlos Danger Posted August 18, 2022 Share Posted August 18, 2022 32 minutes ago, spin_dry said: Opportunities. Giving up on the highway underpass life style already? Quote Link to comment Share on other sites More sharing options...
spin_dry Posted August 18, 2022 Author Share Posted August 18, 2022 Just now, Carlos Danger said: Giving up on the highway underpass life style already? Cracker Barrel. Quote Link to comment Share on other sites More sharing options...
Rod Posted August 18, 2022 Share Posted August 18, 2022 4 minutes ago, ArcticCrusher said: Some think that will be sustainable. Its hard to get away from the long term trend. I couldn't build what we built 5 years ago. It be nearly double Quote Link to comment Share on other sites More sharing options...
ICG Posted August 18, 2022 Share Posted August 18, 2022 44 minutes ago, spin_dry said: Builders here in Wisconsin can’t find workers. It’s critical mass. Boston is a hot market.... Go West and it changes.. Connecticut is dead for new development in general. Yes, you can find pockets of building, but the general state is not jumping. When existing house prices match new replacements, the construction / development world will jump like the 80's. Just watching the cement trucks, that I hardly see tells a sad story. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted August 18, 2022 Share Posted August 18, 2022 7 minutes ago, ICG said: Boston is a hot market.... Go West and it changes.. Connecticut is dead for new development in general. Yes, you can find pockets of building, but the general state is not jumping. When existing house prices match new replacements, the construction / development world will jump like the 80's. Just watching the cement trucks, that I hardly see tells a sad story. CT Re market has been unlike eastern MA, RI and NH for a long time now. Amazing what you can buy in that market pricewise vs other places(obviously excluding some coastal and near NYC areas of CT. Stills seeing multiple offers here on properties priced right and with no real land to build on I don't see that changing significantly. sure there is price drop but those are on greedy asks, prices vs 21 while not up like 20 vs 21 are still generally up. This comment applies to seacoast NH, metro/north shore MA. other areas further from jobs and with more land may be different. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted August 18, 2022 Platinum Contributing Member Share Posted August 18, 2022 Lots of price drops occurring in the Northwoods of Wisconsin but they are so overpriced to begin with. There has been a frenzy of new places come on the market as interest rates start to rise and settle prices down. Too late on most of them. Quote Link to comment Share on other sites More sharing options...
smokin george Posted August 18, 2022 Share Posted August 18, 2022 We've had our house on the market for almost 3 months and getting viewings but no offers as of yet. We have a viewing today again and open house on the weekend. It's a rural property with 2.2 acres and it'll take the right buyer that wants privacy and isn't afraid of driving to the closest town (7-8 min) or 20-25 min to more amenities. The market stalled right after we listed it. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted August 18, 2022 Platinum Contributing Member Share Posted August 18, 2022 2 hours ago, spin_dry said: Opportunities. yep, hoping for a minor crash to buy the retirement place Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted August 18, 2022 Platinum Contributing Member Share Posted August 18, 2022 1 hour ago, Angry ginger said: CT Re market has been unlike eastern MA, RI and NH for a long time now. Amazing what you can buy in that market pricewise vs other places(obviously excluding some coastal and near NYC areas of CT. Stills seeing multiple offers here on properties priced right and with no real land to build on I don't see that changing significantly. sure there is price drop but those are on greedy asks, prices vs 21 while not up like 20 vs 21 are still generally up. This comment applies to seacoast NH, metro/north shore MA. other areas further from jobs and with more land may be different. Put a system in for a dude in Boxboro 4 yrs ago. He paid $950 for the house. It sold this summer for a little over 1.5 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted August 18, 2022 Share Posted August 18, 2022 Yeah instead of houses going for a 100K over asking they are going for 20K over now. It’s horrible. The secondary market is fucked now. I’m glad I unloaded last fall. Quote Link to comment Share on other sites More sharing options...
J. Jackson Posted August 18, 2022 Share Posted August 18, 2022 (edited) 5 hours ago, spin_dry said: I’m seeing excellent deals on land. both developed and not https://www.cnbc.com/2022/08/18/home-sales-fell-nearly-6percent-in-july-as-housing-market-slides-into-a-recession.html You think a drop of 6% is a good deal? That's like saying 3.90 is cheap for a gallon of gas. Edited August 18, 2022 by J. Jackson 1 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted August 19, 2022 Platinum Contributing Member Share Posted August 19, 2022 1 hour ago, J. Jackson said: You think a drop of 6% is a good deal? That's like saying 3.90 is cheap for a gallon of gas. Hey didn't you hear....we had zero inflation too. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted August 19, 2022 Share Posted August 19, 2022 1 hour ago, Mainecat said: Yeah instead of houses going for a 100K over asking they are going for 20K over now. It’s horrible. The secondary market is fucked now. I’m glad I unloaded last fall. So you're living in a van? 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted August 19, 2022 Share Posted August 19, 2022 2 hours ago, ArcticCrusher said: So you're living in a van? Yeah that’s it….lol Quote Link to comment Share on other sites More sharing options...
spin_dry Posted August 19, 2022 Author Share Posted August 19, 2022 3 hours ago, J. Jackson said: You think a drop of 6% is a good deal? That's like saying 3.90 is cheap for a gallon of gas. Not real good with comprehension I see. Quote Link to comment Share on other sites More sharing options...
racer254 Posted August 19, 2022 Share Posted August 19, 2022 12 hours ago, J. Jackson said: You think a drop of 6% is a good deal? That's like saying 3.90 is cheap for a gallon of gas. 11 hours ago, ViperGTS/Z1 said: Hey didn't you hear....we had zero inflation too. He lives in a van and listens to the latest narratives from the media. This is just what they tell him. Quote Link to comment Share on other sites More sharing options...
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