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why would the housing market crash? there is nothing dramatically unstable about the housing market like there was in 2007
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Feb 10, 2024 22:30
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ProperGanderPusher posted:Been hearing about the bottom falling out of the California housing market any day now since 2014. And yet! These things take time. The home insurance market is probably what’s gonna do it but that’s going to take a few more years to work itself out I think, a few last ditch attempts to fix the problem that don’t work, etc
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Feb 10, 2024 22:33
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Ornery and Hornery posted:why would the housing market crash? Don’t mind me, I’m just the home insurance market in California and Florida
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Feb 10, 2024 22:34
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War and Pieces posted:All of the good carpenters are in historic preservation Actual union carpenters sling concrete, people building houses are framers.
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Feb 10, 2024 22:35
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HashtagGirlboss posted:Don’t mind me, I’m just the home insurance market in California and Florida okay but everywhere else?
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Feb 10, 2024 22:37
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House prices cant crash in a modern financialized neoliberal western state - see canada, australia
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Feb 10, 2024 22:49
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I'd love to be wrong!! But the factors that induce housing price crashes (material reality, regional factors, employment, income) don't matter
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Feb 10, 2024 22:51
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sleep with the vicious posted:House prices cant crash in a modern financialized neoliberal western state - see canada, australia But I bet individual houses can crash, like down a cliff in California, or into the Ocean in Florida. I bet the price drops in that subdivision when that happens. So all people have to do is wait for climate change to ramp up its effects. Then they can buy a pile of rubble somewhere.
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Feb 10, 2024 23:39
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There will definitely still be regional crashes in extremely overheated markets and climate-related crashes are inevitable, although you'll never want to buy into the latter. The 2008 housing crash wasn't really a thing that affected every part of the country equally, anyway. Seems like layoffs are accelerating and moving out of the tech sector, so my guess is there will a dip that's retroactively visible when you're looking at the housing market as a whole, but nobody will really notice because everyone will be too busy trying not to be homeless. It's just going to be a thing where you can look at a graph and be like "oh yeah, that's where even more landlords bought in for cheap."
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Feb 10, 2024 23:45
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HashtagGirlboss posted:My employer just closed all of its west coast offices and moved the HQ from Seattle to Durham and while so far there’s no word on ending remote work im dreading the eventuality because im not moving to NC it’s funny that all Durhams are the worst places to live
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Feb 11, 2024 00:11
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there's a lot of cash waiting on the sidelines for a crash in major housing areas like SF or NYC. people forget that it was easy to make a killing if you bought a place post-2008 crash
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Feb 11, 2024 00:28
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Housing won't crash. The securities will. Wait, is it the other way around? Will the real housing market please stand up?
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Feb 11, 2024 01:48
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Is there any chance that the commercial real estate market imploding would have secondary effects on the residential market? More layoffs means less workers, means less need for office space. Even if a company is going full Return to Office. Would seem to imply that things are unlikely to get better in the commercial space any time soon, especially if interest rates hold flat for an extended period of time. So are those groups holding residential properties and or apartments that would need to be sold to shore up loses in commercial properties? Or would investors fleeing commercial stuff just dump more money into residential, driving that up more?
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Feb 11, 2024 02:29
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Finally being able to afford a house in minecraft.
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Feb 11, 2024 04:53
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Orvin posted:But I bet individual houses can crash, like down a cliff in California, or into the Ocean in Florida. I bet the price drops in that subdivision when that happens. In New Zealand a bunch of houses got wiped out last year to flooding and a cyclone, so the government is implementing a buy-out scheme where if it's determined that your properly is too unsafe to live at any more then the government will pay you market price for it. Housing prices aren't going to be allowed to go down until capitalism itself collapses. Look at Australia, New Zealand, Canada etc. the USA has a long way to go yet in terms of housing prices as a multiple of income AND you have the 30 year fixed rate mortgage which these other countries don't have.
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Feb 11, 2024 07:37
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I think if anything crashes a regional market in the US it'll be insurance companies going down but they'll just bail them out if that actually sticks and isn't for negotiating leverage, the US is 100% a ponzi scheme for selling houses and land to build them on and that can't end with the US still in existence as a state imo
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Feb 11, 2024 08:56
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I can’t find the article right now but there’s a new housing subdivision in Moon Township, Allegheny County where three year old houses are actively being lost to a landslide while other homes within a hundred feet are being sold for $460k. You’d think the authorities would do something about that but I guess not.
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Feb 11, 2024 17:11
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Pittsburgh Fentanyl Cloud posted:I can’t find the article right now but there’s a new housing subdivision in Moon Township, Allegheny County where three year old houses are actively being lost to a landslide while other homes within a hundred feet are being sold for $460k. You’d think the authorities would do something about that but I guess not. Imagine if the 460k house slides onto another 460k lot. That’s like double the value right there and you don’t even have to do anything, the land just does that on its own
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Feb 11, 2024 17:13
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sleep with the vicious posted:House prices cant crash in a modern financialized neoliberal western state - see canada, australia YouTube is running commercials for California 'keep your home' mortgage assistance programs that have been dormant since 2010, there is going to be a break point but it probably won't be a mass movement like the GFC of 2008 and the states/federal government will be able to prop it up for a while. I don't expect it to make a big difference but Newsom has mandated almost every state agency force workers back in office minimum 2 days a week (and I suspect that will be increasing by summer) in a dumb attempt to save commercial real estate values and help cover the 80b CA deficit
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Feb 11, 2024 20:58
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Pittsburgh Fentanyl Cloud posted:I can’t find the article right now but there’s a new housing subdivision in Moon Township, Allegheny County where three year old houses are actively being lost to a landslide while other homes within a hundred feet are being sold for $460k. You’d think the authorities would do something about that but I guess not. Just don't be a bagholder, but if you are caveat emptor.
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Feb 11, 2024 21:07
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https://www.zillow.com/homedetails/734-Chilton-St-Marlin-TX-76661/127191773_zpid/ these premier properties in small towns that were dying before covid are dying again. I think that WFH spigot is dry
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Feb 12, 2024 16:24
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lol that town ain't even near anything. It's 5500 people in the rear end end of nowhere.
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Feb 12, 2024 16:38
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30 minutes from Waco, bitch
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Feb 12, 2024 16:48
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like I said, rear end end of nowhere
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Feb 12, 2024 16:54
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Orvin posted:Is there any chance that the commercial real estate market imploding would have secondary effects on the residential market? One can hope that commercial real estate collapses and it has to be converted to residential to have something to do with the property causing a secondary crash in residential.
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Feb 12, 2024 17:00
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mistermojo posted:I like the sarcastic home inspector guy. he has a very soothing voice as well This hurt me to watch ugh
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Feb 12, 2024 17:39
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i say swears online posted:https://www.zillow.com/homedetails/734-Chilton-St-Marlin-TX-76661/127191773_zpid/ The closest thing to a crash happening I can think of are these bumfuck towns that nobody wanted to move to in the first place being forced to lower their prices significantly. I don’t know any wfh computer touchers who moved to small towns unless they already had family there.
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Feb 13, 2024 13:40
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ProperGanderPusher posted:The closest thing to a crash happening I can think of are these bumfuck towns that nobody wanted to move to in the first place being forced to lower their prices significantly. There are probably real estate markets near mountains, lakes, beaches, etc. that were magnets for remote workers.
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Feb 13, 2024 14:03
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Ted Wassanasong posted:Actual union carpenters sling concrete, people building houses are framers. the preservationists rebuild houses. these guys have got to know 100 years worth of techneques and materials, they're good but also one of the reasons why preservationism is a NIMBY scam
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Feb 13, 2024 15:17
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ProperGanderPusher posted:I don’t know any wfh computer touchers who moved to small towns unless they already had family there. My wife worked with one attorney who moved to a lovely mountain town here, not sure what his practice area was but he could do it all remotely. Quite literally the only person I had first or second hand knowledge of who left the city to move to the middle of nowhere that didn't start in the middle of nowhere. There are no organic narratives in American media and as far as I can tell the whole "WFH computer men are moving to one horse meth towns with a Walmart and driving the cost of property up!" was a narrative to drive the cost of properties up. It's served it's purpose so the narrative is over.
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Feb 13, 2024 15:36
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Dmitri-9 posted:There are probably real estate markets near mountains, lakes, beaches, etc. that were magnets for remote workers. Oh, no doubt. I’m taking about unremarkable towns in the rust belt or the Deep South who think computer touchers will pay whatever the seller of a local poo poo shack wants just to be able to own a house. This very thread was sharing places in bumfuck PA full of people trying to sell houses that have no business being over 100k for like 400k. Anywhere with real mountains or a coastline will be just fine.
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Feb 13, 2024 15:45
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My family is all from assy central PA and my brother ended up spending $280K on a house in the middle of nowhere that shouldn't have been any more than $120-150k because he and his girlfriend bought during the wfh bonanza period. Even the initial 2020 "everyone is fleeing the cities!" reporting was based on online real estate searches, not sales.
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Feb 13, 2024 15:48
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im from philadelphia and i moved to the mountains in georgia because cost of living was too high unless i wanted to move back to the neighborhood im from, i do warehouse work tho and i cant afford a house here either (but i get more for the same amount of rent)
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Feb 13, 2024 15:54
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good to know the insights of the petit boug in the irradiated part of PA tho
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Feb 13, 2024 15:55
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Which permabanned rereg are you? your pissy resentment seems familiar
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Feb 13, 2024 15:56
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never been banned, lost my login to my 06 account (for the best, it was all GBS trash because i was 15), been lurking here for actual factual insight into the world's state of affairs because im out of work on a workers comp claim (smashed my hand) and eventually had to cough up  to keep readingur just easy to make fun of because you loudly proclaim what an out of touch idiot you are multiple times a day
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Feb 13, 2024 16:00
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i might have it out for u extra because i was a bike mech for ages and i can clearly see how easily you're parted from your money
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Feb 13, 2024 16:02
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OH MY BAD posted:i might have it out for u extra because i was a bike mech for ages and i can clearly see how easily you're parted from your money that's okay, bike mechanics need to get paid too
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Feb 13, 2024 16:06
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get his rear end
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Feb 13, 2024 16:14
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Pittsburgh Fentanyl Cloud posted:that's okay, bike mechanics need to get paid too gimme $100 and i’ll makes your bikes so good
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Feb 13, 2024 16:15
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