A financial expert says “houses prices aren’t going down anytime soon.”

[Sad Bunny]

 

[rightfultoefinger]

Of course they won’t. Super low interest rates and a lot of people were paying straight cash.

 

[Scustin Bieburr]

Expert Dave Ramsey

 

[Ezekiel 25:17]

Time to start asking for higher pay. The last 2 jobs I just interviewed I asked $65,000 instead the $55-$60k I was looking for. I'm paying $7/gal for gas, hell I look like still struggling


If you have the skills you should be asking for that because of cost of living

 

[Bubba T]

Pretty reasonable basis for his argument based on the data.

 

[ScottieBPippen]

When those foreclosure homes hitting the market again? Cause when those drop, THAT will be a good time to jump in the market.

 

[skyrunner1]

See

Of course they won’t. Super low interest rates and a lot of people were paying straight cash.

Interests have doubled in last few months. Whenever I hear someone tryna sell hard like that I think why, then in caption I see link to agent in your area, this was likely a paid post by agents. People can only afford what the interest rates allow them to. Rates have doubled them prices gonna have to come down or people wont be able to afford anything.

This sounds like a last ditch cry to keep the market up. Have seen this cycle before but everything is already pointing to us being in recession and already having been in one for months, most just dont realize it yet. Stocks down, crypto bleeding, interest rates up, inflation going crazy, that domino of job loss increases and you will start to see alot of "hey big head" texts flying. This gonna be a rough ride unless something crazy happens.

 

[skyrunner1]

Pretty reasonable basis for his argument based on the data.

I can make any arguement if you sponsor my post also..

 

[Born2BKing]

Of course they won’t. Super low interest rates and a lot of people were paying straight cash.

People? You mean PE firms right?

 

[greenvale]

When those foreclosure homes hitting the market again? Cause when those drop, THAT will be a good time to jump in the market.

Foreclosures have to be litigated and that takes time.

This is very market dependent. Places that ppl flocked to cause of wfh will probably fall but metro areas probably won’t due to proximity to the city, schools and just overall desirability.

 

[the bossman]

See

Interests have doubled in last few months. Whenever I hear someone tryna sell hard like that I think why, then in caption I see link to agent in your area, this was likely a paid post by agents. People can only afford what the interest rates allow them to. Rates have doubled them prices gonna have to come down or people wont be able to afford anything.

This sounds like a last ditch cry to keep the market up. Have seen this cycle before but everything is already pointing to us being in recession and already having been in one for months, most just dont realize it yet. Stocks down, crypto bleeding, interest rates up, inflation going crazy, that domino of job loss increases and you will start to see alot of "hey big head" texts flying. This gonna be a rough ride unless something crazy happens.

What will cause this so-called crash? In 2008 you had a huge amount of foreclosures due to so many people getting mortgages they couldn't afford

Banks have been incredibly strict about qualifying for mortgages since then. People have been saying there's gonna be all these foreclosures every month since Covid started. Here we are over 2 years later. Where are all these supposed foreclosures to cause a crash?

Market will cool off a bit. But crash? Where?

 

[skyrunner1]

What will cause this so-called crash? In 2008 you had a huge amount of foreclosures due to so many people getting mortgages they couldn't afford

Banks have been incredibly strict about qualifying for mortgages since then. People have been saying there's gonna be all these foreclosures every month since Covid started. Here we are over 2 years later. Where are all these supposed foreclosures to cause a crash?

Market will cool off a bit. But crash? Where?

Let me first say I dont think we will have '08 level type crash or close to that but interest rates doubling, inflation so they wont stop til they get that in control and if people lose their jobs and there are layoffs of any sort is a recipe right there. I think we both agree, a cool off, haircut, a drop, etc. Whatever you want to call it but we have half million dollar small houses or townhouses in the hood, that doesnt seem sustainable like this guy is saying. Especially with interest rates going up

 

[the bossman]

Let me first say I dont think we will have '08 level type crash or close to that but interest rates doubling, inflation so they wont stop til they get that in control and if people lose their jobs and there are layoffs of any sort is a recipe right there. I think we both agree, a cool off, haircut, a drop, etc. Whatever you want to call it but we have half million dollar small houses or townhouses in the hood, that doesnt seem sustainable like this guy is saying. Especially with interest rates going up

Agreed. But it feels like we've been using this line for a decade plus. And every year the madness keeps going.

 

[CouldntBeMeTho]

fukk Dave Ramsey. He doesn't know what he's talking about.

 

[skyrunner1]

Agreed. But it feels like we've been using this line for a decade plus. And every year the madness keeps going.

Well 10 years ago we were just coming out of a bottom cycle, they say it usually goes in 10 years so we been due. '08 was nose dive, they were giving forelcosures away '09-'11/'12. Those same houses you see selling for 350-450k now were selling for 40k around those times. You could buy for less than replacement cost at that time, I dont think anyone was saying that in '12.. Now in '18 yea, they did try to raise the rates back around that time but the reaction was swift and they reversed course and then dropped the rates even lower. We been on borrowed time..