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The New Coffee Room

  1. TNCR
  2. General Discussion
  3. Housing is in Trouble

Housing is in Trouble

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  • jon-nycJ Online
    jon-nycJ Online
    jon-nyc
    wrote on last edited by
    #1

    They’ll end up, after a lot of drama, with the same formula they use every time they have a trifecta: take away health care and food assistance from low income families and use the money to fund tax cuts for their donors.

    1 Reply Last reply
    • 89th8 Online
      89th8 Online
      89th
      wrote on last edited by
      #2

      2/10 = Interest rate spike
      3/10 = Housing demand boom per COVID
      5/10 = Somewhat normal COVID stock bubble
      8/10 = It's all good, we move in with @Horace
      9/10 = It's all good, @Doctor-Phibes is gonna save us

      1 Reply Last reply
      • HoraceH Offline
        HoraceH Offline
        Horace
        wrote on last edited by Horace
        #3

        We will be breaking our contract, pretty sure. Then renting for a while. I would not be surprised if the Houston area falls 20% by mid 2023. It’s up 50% in the past two years.

        Education is extremely important.

        1 Reply Last reply
        • HoraceH Offline
          HoraceH Offline
          Horace
          wrote on last edited by
          #4

          I must say it would be awesome serendipity if I sold near the top, waited a year, and bought near a bottom.

          Education is extremely important.

          89th8 1 Reply Last reply
          • HoraceH Horace

            I must say it would be awesome serendipity if I sold near the top, waited a year, and bought near a bottom.

            89th8 Online
            89th8 Online
            89th
            wrote on last edited by
            #5

            @Horace Then refinanced 3-4 years later. You are the american dream!

            1 Reply Last reply
            • JollyJ Offline
              JollyJ Offline
              Jolly
              wrote on last edited by
              #6

              Thank you, Mr. Resident!

              “Cry havoc and let slip the DOGE of war!”

              Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

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              • Doctor PhibesD Online
                Doctor PhibesD Online
                Doctor Phibes
                wrote on last edited by
                #7

                I really don't need this.

                We've got our first open house on Saturday - hoping we can get it sold, because we close on the new one in a month.

                If we have to knock $20K off, it's not the end of the world, but I don't need the stress.

                I was only joking

                HoraceH 1 Reply Last reply
                • Doctor PhibesD Doctor Phibes

                  I really don't need this.

                  We've got our first open house on Saturday - hoping we can get it sold, because we close on the new one in a month.

                  If we have to knock $20K off, it's not the end of the world, but I don't need the stress.

                  HoraceH Offline
                  HoraceH Offline
                  Horace
                  wrote on last edited by
                  #8

                  @Doctor-Phibes said in Housing is in Trouble:

                  I really don't need this.

                  We've got our first open house on Saturday - hoping we can get it sold, because we close on the new one in a month.

                  If we have to knock $20K off, it's not the end of the world, but I don't need the stress.

                  I knocked 5% off my ask in order to get it sold, when the ask was at the ZEstimate. For whatever those are worth. This was right after the interest rate hikes.

                  Education is extremely important.

                  1 Reply Last reply
                  • jon-nycJ Online
                    jon-nycJ Online
                    jon-nyc
                    wrote on last edited by
                    #9

                    Sure you'd have been better off six months ago Phibes but you're still better off now than you will be next year. Hopefully you'll pull the chute at 500ft like Horace.

                    They’ll end up, after a lot of drama, with the same formula they use every time they have a trifecta: take away health care and food assistance from low income families and use the money to fund tax cuts for their donors.

                    LuFins DadL 1 Reply Last reply
                    • jon-nycJ jon-nyc

                      Sure you'd have been better off six months ago Phibes but you're still better off now than you will be next year. Hopefully you'll pull the chute at 500ft like Horace.

                      LuFins DadL Offline
                      LuFins DadL Offline
                      LuFins Dad
                      wrote on last edited by
                      #10

                      @jon-nyc said in Housing is in Trouble:

                      Sure you'd have been better off six months ago Phibes but you're still better off now than you will be next year. Hopefully you'll pull the chute at 500ft like Horace.

                      To add to that, you’re also better off than pre-pandemic. Values are still elevated from the COVID buying spree. The worst will be next year.

                      I do think it’s not quite as severe as the thread indicates because the millennials and Gen Z are finally starting to move into a home ownership mindset. The interest rates will hurt, but hey, they just got an extra 10-20K in their pockets thanks to Uncle President Joe, and they already have shown they don’t really understand interest rates and will
                      sign contracts that they don’t understand…

                      The Brad

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