Buckle up everyone, it is about to get turbulent. Good news: it is not going to be as bad as the last recession. Bad news: all asset prices are going down soon. https://www.cnbc.com/2019/07/02/home-sales-point-to-recession-in-late-2019-or-2020-fed-economist-says.html
Shitttt... i recently bought a home after stretching a lot more than i could afford
The Great Recession was caused by massive mortgage fraud, though.
I think we are already in recession, gdp could be negative in November report. It's not a big deal and sadly won't be "turbulent" so the discounts won't be as good.
+1
The problem when people use the last recession as a benchmark is that it wasn’t simply a recession, it was a credit crisis. I’ve lived through several recessions. I’m hoping to live through several more.
And people think the next downturn will result in prices returning to 2012 levels.
copy and paste at this point: EVERYONE PANIC SELL YOUR HOUSES AND STOCKS AND PUT THE MONEY UNDER YOUR BED!
Looking forward to it - a chance to gain assets at pennies on the dollar.
Good news for buyers of assets: all asset prices are going down soon.
But what about all the millionaires coming in west region from the IPOs. They are gonna buy all these houses and make it a sellers market.
Yep. Like they will!
IPO millionaires are a small portion of the total buyers. Also, their target house prices are different as well (1+ Million). The economics of that segment is quite different than entry level. 1+ million houses are selling for 150-250 below asking price right now with hardly any offers for a while.
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Be greedy when everyone’s fearful
Nobody is fearful right now and that is concerning.
There's a post about housing crashes everyday on blind and on major news sites.