Housing

Westside Steve

One would have to imagine the shit is getting closer and closer to the fan.

This might also be of interest to the folks that think that the president who appoints the chairman of the Fed has nothing to do with the economy. But regardless of any other tractors somebody it's going to get left holding the bag.

"Housing Market Faces a World of Pain | TheStreet" https://www.thestreet.com/personal-finance/real-estate/housing-market-pain

WSS

calfoxwc

the demand is so high - our friend's daughter in N. Carolina got out bid several times on houses, and she went to 30,000 bucks over the asking price. Building new homes have gone up 60,000 bucks because of lumber prices.

America was doing so great under a terrific president - Pres Trump. then, "mean tweets" was the reason really ignorant social media groupies decided to vote on their egos instead of for their country.

and it's only beginning - it will get worse under the stupidass leftwing green college student policies running our gov now.

Unfortunately, too many of them are not honest enough to admit what they did. Look around here.....

Westside Steve

"The Real Reason House Prices Are Skyrocketing: What The Real Estate Industry Won't Tell You" https://www.forbes.com/sites/johnwake/2022/04/01/the-real-reason-house-prices-are-skyrocketing-what-the-real-estate-industry-wont-tell-you/

Some more perspective

WsS

Kvoethe

There are real estate companies buying everything up in the coastal areas. Jacking up prices all over. They are buying over asking price sight unseen. 60 minutes did a story on it.

Westside Steve

@kvoethe said:

There are real estate companies buying everything up in the coastal areas. Jacking up prices all over. They are buying over asking price sight unseen. 60 minutes did a story on it.

I get offers to buy my properties at least a couple times a week. They sent in a team do a cheap and quick Remodel and rent them at top buck.

WSS

calfoxwc

lumber companies keep wanting to buy our trees in our woods.

nope. never going to happen.

A few years ago, one guy actually showed up, I never responded to their cards....and wanted to

follow up.

I told him some stories about hunting squirrel with my Dad, how the trees take so many years to grow, how we love to go sit out our woods, how wildlife needs nice woods to live, and how trees use co2 and exude oxygen. And then I asked him what he thought my answer was.

He laughed and said my answer was "don't bother me, I love our trees" . I grinned back at him and said "say, you're good at this" lol.

he left. didn't come back. Nice guy.

BaconHound

Unfortunately, one of the consequences to higher inflation is higher interest rates.

Canton Dawg

@baconhound said:

Unfortunately, one of the consequences to higher inflation is higher interest rates.

Kind of.

In the 70’s when the prime lending rate was 20%, the banks would give you 14% on your CD’s. Not anymore.

Axe

Bought my first cd during the Carter admin in the 70s.. It paid our monthly rent. But inflation ultimately chipped away at it.. Starting to look like the carter days part deux..

Housing has reached critical mass imo.

We have our last pc set to close in early May.. I thought it was a good price for 4+ acres and a 3/2 when the contract was locked.

Like most however I'm very concerned about just how badly Cart,,err, Biden can fuck things up. Remember Barry's words.. Never under estimate Joe's ability to fuck something up..

Westside Steve

"Watch these overvalued housing markets as home price growth begins to decelerate, CoreLogic says – Fortune" https://fortune.com/2022/04/06/overvalued-housing-markets-home-prices-mortgage-rates-corelogic/

Westside Steve

https://www.thestreet.com/personal-finance/real-estate/homeowners-rush-to-sell-properties-rates-rise

calfoxwc

we bought a new brush hog - Woods 6'.....3 yrs no interest. 100 bucks off with a Veterans discount.....But that will go away pretty soon - it was a very good time to buy before interest rates go way up.