Housing during recession

Mar 7 11 Comments

Came to US pre-covid and have seen house prices exploding in last 2 years. How was the housing situation during last recession(I was too young in 2008 to understand housing)

Tc : 150k

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TOP 11 Comments
  • IBM
    Baby Daddy

    Go to company page IBM

    Baby Daddy
    Rock bottom prices by the end of 2009. Housing supply was plentiful. It was Christmas time for homebuyers; you could even bargain with sellers to lower the asking price.

    In other words, the absolute opposite of today.
    Mar 7 0
  • Amazon
    TYLOPSIS

    Go to company page Amazon

    TYLOPSIS
    We have a lack of supply coupled with people locked into 30 year fixed rate mortgages that have interest lower or at inflation.

    Unless rent prices collapse, I don’t see a lot of inventory in most markets coming online.

    I just don’t see the 2008 housing crises happening this time around
    Mar 7 0
  • Apple
    vsynct

    Go to company page Apple

    vsynct
    I can give you a snapshot of 2009-10. Cambrian homes were 600k. Cupertino was around a million. Milpitas was 500ks. Dublin San Ramon was considered out skirts. In comparison rent for a nice 2bed 2 bath luxury apartment was 1500-2000. Of course the tc was much lower as well. So the comparison would be between renting and buying. The difference to rent vs buy was much less than today. You could rent a Cambrian home for 2500 a month but buying would be 3500 a month that’s like 40% more than rent. It includes principal payment as well and interest rate was in 5% range.
    Mar 8 0
  • Adobe
    V$ni&;

    Go to company page Adobe

    V$ni&;
    Desirable neighborhood value stagnate while others dropped by 30% and in some cases 50%
    Mar 7 0
  • Dell
    0/0=1

    Go to company page Dell

    0/0=1
    2008 best life time to buy .. people bought 30 k in houses in Bellevue now it’s millions
    Mar 7 3