Housing is cooling all over the country. Now Denver.
This is getting kind of crazy. Things were sizzling just a couple of months ago. https://www.denverpost.com/2018/10/03/denver-housing-market-goes-cold/
The Denver Post
Interest rates, the Chinese are buying less, unaffordable prices,
Ok
Returning to normal appreciation levels is crazy?
That’s not crazy, but the velocity of the change is. We’ll see what happens between now and spring. Manhattan re prices did the same thing earlier this year and prices are now declining.
What is with this citibank guy and housing posts. Fuck off dude. Go spread your agenda somewhere else.
If you want to keep your head permanently lodged in your ass then go ahead.
Here’s another one for you oath. https://www.dallasnews.com/business/real-estate/2018/10/05/homebuyer-interest-cooling-realtors-top-economist-says
Having immigrant friendly policies will allow immigrants to have the stability to make a long term investment such as buying a home.
Well it’s expected. It’s just that some bulls kept day dreaming that the bull run will continue forever. Back when the housing market peaked in May, I had called it. Please check back the posts. 1. Interest rates were going to rise. For people who calculated, its no surprise. 2. Tax hits are coming when you file 2018 returns. The Bay Area and Seattle will feel the blow in Apr 2019. People who follow news know what’s coming, others will know when they file their taxes. 3. Investors are first to flee. Simplest example is that nobody in Bay Area is flipping properties now. They know they will end up with a loss. For reference look at https://www.redfin.com/CA/Fremont/38822-Le-Count-Way-94536/home/1279456?from_mobile_app=true someone bought it for $970k and tried to flip and after flipping it’s been sitting on market for over 2 months and they keep taking out the listing and relisting it. 4. I have been calling out the stock market as well. Please check past posts. NASDAQ will most likely end flat for the year. Less money from stocks hits the Bay Area and Seattle big time.
Now you are saying the crash will come in Apr 2019? Not Oct 12th this year? Bummer. Now you are saying like a typical dumb bear. There are many useless bears talking like that. If you keep saying it, you will be right in a year or two or three or four... That's something my 3 years old cousin can do. Important thing is when and how much. I am sure that you will say "I said so!" even for 10%ish small correction. Going back to Bay Area real estate -I don't know why you and Citibank guy keep talking about Dallas or where we don't care-, have you ever looked at what happened before and after the two recent recessions? I am not talking about East Bay like Dublin. Santa Clara County and San Mateo County got back to normal very quickly. Use your short term speculation in stock market. RE is a long game.
Absolutely agree on the tax front. I expect people to be liquidating equity to ensure that have enough cash on hand, especially for the people that owns 2-3 rentals. A correction on stock market will also send shocks in housing in bay area especially when ton of folks use non-veated RSU to show ability to borrow.
Most of the posts including this one is stupid, you still have to pay equivalent amount in rent if not your mortgage. It’s costs to have a roof, it doesn’t matter if the home prices go up or down for people who want to own homes for the long.. who gives a shit about the bull or bear
Sounds like you purchased recently. Sorry about that. It IS cheaper to rent than to buy in overpriced markets. https://www.google.com/amp/s/amp.businessinsider.com/rent-or-buy-better-deal-san-francisco-san-jose-2018-7 Grammar. Most posts including this one ARE stupid, not is stupid. Example. You ARE stupid, not is stupid. Unless you’re from Alabama where it’s cheaper to own than rent. Then you IS stupid.
We got our home in 2012, it’s has MORE THAN DOUBLED in value ( based on nearby sales ) since then; I’m least worried even if it’s cut in HALF. I am paying LESS IN MORTGAGE THAN I WOULD HAVE TO PAY IN RENT FOR A SIMILAR HOME. Thanks for the grammar check Citi, You are a beacon of hope..
Federal reserve is pulling money out of the system. Big bust by next year. Look up business insider article about turkey’s lira crisis and its relation to the federal reserve. End the fed.
If not next year, maybe 2020
Been over valued since early 2016. Seems like the bots have taken over the market. Going to be brutal when there algos move in the opposite direction and the longs turn into shorts.
@OP one day, when you will be a homeowner, and you will realize how stupid you were to not buy. Till then, happy posting. Waiting for your next housing post!
I’ve bought and sold eight homes and investment properties in the last 10+ years. I will only be sorry if I don’t purchase again as soon as the market crashes over the next couple of years. 1035 exchanges have been good to me.
Bullshit. You are just a gossip monger.
Maybe due to interest rates being higher?
True but they’re still low and only really started to pop big time last week. Something else is driving this. Maybe buyer/seller psychology?