When Does the Market Pop

[T1R9sledder]

1 minute ago, Arctic Cat Destroyer said:

The only thing Fox has been good at is putting hot pieces of ass on the air. The rest is utter bullshit. Hold on, Shepard Smith actually reports news so he is ok. The rest of that network is political COMMENTARY. aka biased bullshit.  

Unfortunately that is what news outlets have turned into. Wouldn't be a refreshing change were some news outlet just reported the news without left or right spin. 

[Anler]

26 minutes ago, Zambroski said:

Ughhh....well, we all have our opinions.   I read a lot...and for the most part, a lot of what I read finds Fox news if only some of the story.  I'll stick to my statement about CNN and MSNBC being political hack networks almost exclulsively.  It's like trying to fing out information throught he SeRena network.  Nothing but bullshit opinions and worthless lefty rhetoric by complete mental midgets.

I am not defending CNN or MSNBC. I think they are all full of shit. 

[revkevsdi]

2 hours ago, xtralettucetomatoe580 said:

Housing is way above the trend. Eventually it has to come back to reality. I’m thinking 1.5-2 years we will have a correction. I can’t see the boobs in Congress botching tax reform/cuts. I’m thinking of dumping the house before 2019. Prices in my neighborhood have gone insane since we bought. I’m licking my lips. Love it. 

What do you call above trend?   I was sure housing in Canada would have followed the US correction in 2008. I didn't expect a crash because we have stricter rules but I did expect a slight correction.  Holy shit, they just kept climbing.  

Evidently the insanity has stopped here but this summer a semi detached went for close to $500,000.00. Imagine spending that much for a place you wouldn't be really proud of.  

Yeah, I think a big crash is coming but I've been wrong since 08 in Canada so it doesn't count for shit.

[xtralettucetomatoe580]

7 minutes ago, revkevsdi said:

What do you call above trend?   I was sure housing in Canada would have followed the US correction in 2008. I didn't expect a crash because we have stricter rules but I did expect a slight correction.  Holy shit, they just kept climbing.  

Evidently the insanity has stopped here but this summer a semi detached went for close to $500,000.00. Imagine spending that much for a place you wouldn't be really proud of.  

Yeah, I think a big crash is coming but I've been wrong since 08 in Canada so it doesn't count for shit.

 

[ArcticCrusher]

7 minutes ago, revkevsdi said:

What do you call above trend?   I was sure housing in Canada would have followed the US correction in 2008. I didn't expect a crash because we have stricter rules but I did expect a slight correction.  Holy shit, they just kept climbing.  

Evidently the insanity has stopped here but this summer a semi detached went for close to $500,000.00. Imagine spending that much for a place you wouldn't be really proud of.  

Yeah, I think a big crash is coming but I've been wrong since 08 in Canada so it doesn't count for shit.

I have to share that ignorance when it comes to real-estate.  I thought for sure the market would go south and here we are.  Bottom line is over the long term both real-estate and the stock market will rise.  When will it turn south, honestly nobody really knows that answer and ones who think they do are full of shit. 

[ArcticCrusher]

6 minutes ago, xtralettucetomatoe580 said:

 

So what your saying is that the US housing market didn't crash enough back in 08?

[ArcticCrusher]

This is a better chart to look at.  For our market at least.

 

[Dave]

1 hour ago, T1R9sledder said:

Unfortunately that is what news outlets have turned into. Wouldn't be a refreshing change were some news outlet just reported the news without left or right spin. 

Fox is the closest to that imo

[T1R9sledder]

18 minutes ago, BEANPOLE DAVE said:

Fox is the closest to that imo

They pride themselves as fair and balanced.

[Anler]

1 hour ago, BEANPOLE DAVE said:

Fox is the closest to that imo

See there you go again....

[Dave]

5 minutes ago, Arctic Cat Destroyer said:

See there you go again....

What part of fair and balanced dont you understand?

[xtralettucetomatoe580]

1 hour ago, ArcticCrusher said:

So what your saying is that the US housing market didn't crash enough back in 08?

No it did, but low rates allowed it to rebound faster than it should have again. 

[BOHICA]

So those that are going to sell to avoid a crash going to do???  Rent???

[xtralettucetomatoe580]

22 minutes ago, BOHICA said:

So those that are going to sell to avoid a crash going to do???  Rent???

Rent for 6 months to a year. I’m in position to sell my place for $90k more than I bought it for in May of 2016. Spend $10k renting a year while not paying property taxes so spend a total of $4000. Wait till prices drop and buy again. No brainer. It’s not avoiding the crash haha. Hoping for it. 

[Dave]

9 minutes ago, xtralettucetomatoe580 said:

Rent for 6 months to a year. I’m in position to sell my place for $90k more than I bought it for in May of 2016. Spend $10k renting a year while not paying property taxes so spend a total of $4000. Wait till prices drop and buy again. No brainer. It’s not avoiding the crash haha. Hoping for it. 

All speculation of course though....

[xtralettucetomatoe580]

7 minutes ago, BEANPOLE DAVE said:

All speculation of course though....

Of course. I’m pretty confident what I’ll get for my place. Appraisal was ok on the house across the road that is very similar to mine. 

[$poorsledder$]

So do I cash in my 401K and invest I'm material goods?  Guns and camping supplies?

All I can say is if your hording money make sure its all in $1.00 bills,  there will be a lot more paper to burn to keep warm  then $100's. 

[ArcticCrusher]

1 hour ago, xtralettucetomatoe580 said:

Rent for 6 months to a year. I’m in position to sell my place for $90k more than I bought it for in May of 2016. Spend $10k renting a year while not paying property taxes so spend a total of $4000. Wait till prices drop and buy again. No brainer. It’s not avoiding the crash haha. Hoping for it. 

So you bought a place last year and want to sell it now cause it went up $90K.  What did you pay for this place if you don't mind me asking?  If the place is a short term purchase then you might want to consider the timing, otherwise you are likely jumping the gun.  Nobody knows what the market is gonna do until they see from their rear-view mirror.  If housing sales are strong, there is little to be concerned with.

 

I bought my place in 98 for $385K at the bottom of near 10 year correction from the previous housing crash, pure luck.   Prices started creeping up early 2000 and by the time 2008 came it was the same, should we sell?  Even if we got out at the peak then it would have been a big mistake.  Same for the markets, as much as it crashed and having to shoe away extremely bad horrible advice from so called financial experts recommending  leaving equities, it was better to stay the course and I did.  Today my home is worth just under 2 mil, and in the past 5 years, my investments have more than doubled.

It's never a no brainer.

[The Rocket]

1 hour ago, xtralettucetomatoe580 said:

Rent for 6 months to a year. I’m in position to sell my place for $90k more than I bought it for in May of 2016. Spend $10k renting a year while not paying property taxes so spend a total of $4000. Wait till prices drop and buy again. No brainer. It’s not avoiding the crash haha. Hoping for it. 

Likely a mistake but I wish you luck. 

[Zambroski]

23 minutes ago, The Rocket said:

Likely a mistake but I wish you luck. 

I agree.

Hey @xtralettucetomatoe580 your plan rarely works out that well and leave you paying rent AND TAXES included in the rent for much longer than you planned.  Your area may be different but I don't see housing prices "crashing" enough to justify whatever money you think you may make while you are waiting for the bubble to burst...for a year/two/three/four.......

But, you're a smart guy so, just some friendly advice from somebody who tried that shit when I was your age.  Oooops.

 

[The Rocket]

35 minutes ago, Zambroski said:

I agree.

Hey @xtralettucetomatoe580 your plan rarely works out that well and leave you paying rent AND TAXES included in the rent for much longer than you planned.  Your area may be different but I don't see housing prices "crashing" enough to justify whatever money you think you may make while you are waiting for the bubble to burst...for a year/two/three/four.......

But, you're a smart guy so, just some friendly advice from somebody who tried that shit when I was your age.  Oooops.

 

I’d like to see his #s. purchase price, date and current price etc. 

[Ez ryder]

 

7 hours ago, Highmark said:

Watch the rental rates vs. new home prices.   If new home prices rise much faster than rental rates can catch up then a bubble is in place.   

in my parts rent has done nothing but climb fast from 08 to now . I am charging almost 2x  what I was in 07 on some of my units and that is the norm . I am shocked by some people I know there credit score I know what they make and they would rather pay me 400 bucks a mo more than a house payment ? ok 

[Ez ryder]

42 minutes ago, Zambroski said:

I agree.

Hey @xtralettucetomatoe580 your plan rarely works out that well and leave you paying rent AND TAXES included in the rent for much longer than you planned.  Your area may be different but I don't see housing prices "crashing" enough to justify whatever money you think you may make while you are waiting for the bubble to burst...for a year/two/three/four.......

But, you're a smart guy so, just some friendly advice from somebody who tried that shit when I was your age.  Oooops.

 

that whole need to have 3 offers in with in 90 days is total shit . why cant a guy have a year or 2 before getting ass raped . no one likes to be rushed in to big long term decisions 

[xtralettucetomatoe580]

 

23 minutes ago, The Rocket said:

I’d like to see his #s. purchase price, date and current price etc. 

Paid $220k, neighborhood became the hot spot in Madison. Probably one of the nicer homes in the neighborhood. It’s peaked here. Everything has leveled off and cooled down. Neighbor with the same house but without the updates and second bath just sold for $310k last month. Truly values could never get in the $350k + range with the garbage intermingled. All 1940s houses with barely a yard, etc. Making a quick $90k is a no brainer. I don’t like the neighborhood. It’s all hipsters (lol I’m waiting for bussmans response) and tech yuppies. Getting out now and waiting for prices to dump is a win.

[f7ben]

2 minutes ago, xtralettucetomatoe580 said:

 

Paid $220k, neighborhood became the hot spot in Madison. Probably one of the nicer homes in the neighborhood. It’s peaked here. Everything has leveled off and cooled down. Neighbor with the same house but without the updates and second bath just sold for $310k last month. Truly values could never get in the $350k + range with the garbage intermingled. All 1940s houses with barely a yard, etc. Making a quick $90k is a no brainer. I don’t like the neighborhood. It’s all hipsters (lol I’m waiting for bussmans response) and tech yuppies. Getting out now and waiting for prices to dump is a win.

great deal