Investor Friendly Agents
Make It Easy To Be Found
Click Here Now!

--------------------------
Hard Money Lenders
You Need To Be Listed
Click Here Now!


Welcome, Guest. Please login or register.
Did you miss your activation email?
August 15, 2020, 08:41:11 am
Home Help Search Calendar Login Register
Free Monthly Update
Name:
Email:
Investor Friendly Agents
Make It Easy To Be Found
Click Here Now!

--------------------------
Hard Money Lenders
You Need To Be Listed
Click Here Now!


Welcome, Guest. Please login or register.
Did you miss your activation email?
August 15, 2020, 08:41:11 am
Home Help Search Calendar Login Register
Free Monthly Update
Name:
Email:
Click Here to Register for the Discussion Forums

Author Topic: When will prices start dropping?  (Read 1076 times)

Offline Randoskie

  • Member
  • *****
  • Posts: 1270
When will prices start dropping?
« on: June 11, 2020, 11:05:05 pm »
When will prices start dropping? That has to be the number one questions on every bodies mind.
I'm watching reports on You Tube that say real estate is 9-10 months behind the economy.
Ad then I've watched reports that say SFH may not lose much value because of housing shortages and the population is breeding faster than rabbits and the const never gained the momentum like it had back in 2007
I remember back in 07 working on a track of homes here in central Ca, on a break I looked out the large LR window at hundreds of new homes going up in these nice areas on the outskirts of town, and also everywhere else in town.
I told my buddy, how long can this go on? The houses we wer working on had increased in price 200K in 2 years from 319 to 515K

This bubble is about to pop.
In the last 2 yrs prices going up so fast. and then the virus from hell, then 50 million taxpayers not working, then riots and the economy imploding & along with some mayhem and insanity, mix it all up and throw it all out on the table and holy meltdown.



Offline SteveKay

  • Member
  • **
  • Posts: 85
    • We buy houses New Orleans
Re: When will prices start dropping?
« Reply #1 on: June 21, 2020, 04:04:47 pm »
You would think it would be when the forebearance measures by the banks stop. It isn't that straight forward though because there are opposing forces to the ones you described. The Fed has printed so much money and the government has done lots of stimulus and may do more. Interest rates arw all time lows. Right now in my market (New Orleans) the property market is super hot. I don't think anyone knows exactly how things will play out. I am getting ready for a crash as a very likely outcome, but also prepare for other scenarios. You need to have strategies to deal with different markets and be ready to switch between them.
New Orleans Investor
https://homebuyerlouisiana.com

Offline Randoskie

  • Member
  • *****
  • Posts: 1270
Re: When will prices start dropping?
« Reply #2 on: July 04, 2020, 11:40:19 am »
I've seen the first reports that rent prices and property prices declining in New York and California.
It seems that even though there is a shortage of housing keeping prices up, with 50 million Americans unemployed who the heck can afford it.
My prediction was that prices wud start dropping mid to late summer, can you imagine all the unemployment checks running out and the moratorium on evictions and the mortgage forbearance's ending and, holy market crash.
Americans want out of the cities, in Los Angeles and San Fran the homeless are thicker than than I don't know what. These people are pooping on the sidewalks next to their tents and in business doorways. I asked my buddy Jimbo what can we do to help these homeless people? He says nothing, they are unmotivated, abusing substances and beyond help. I had to agree.
But now with this virus shutting down the economy will there be a new class of homeless? People that were working, want to work and you know the story.
Meanwhile we got this out of control huge military raging constant wars for reasons not understood by me, out of control government with huge salaries and pensions, and these outrageous CIA and FBI and Homeland security etc. doing absolutely no good funding illegal operations to overthrow countries and bring down their president.
I'm going insane here.


Offline Randoskie

  • Member
  • *****
  • Posts: 1270
Re: When will prices start dropping?
« Reply #3 on: July 07, 2020, 11:40:54 pm »
I watched a video on YouTube of a drive thru food giveaway in Riverside California yesterday. That in itself was nothing out of the ordinary, except this line was 2 frikin miles long. The youtuber that posted the vid drove the entire line with his GoPro , block after block w hundreds of people sitting in their cars and waiting and needing food. And the wait was hours.
And I just watched a news report where San Francisco renters are bailing. This one young guy said he was paying $4,000 dollars a month for a 1 bedroom apartment, I think he was moving back to parents. The news report also mentioned rents were going down by 10% already.
Also the news report mentioned an outrageous number of commercial leases have been broken.
I got a bad feeling here, & oh yea, there's more. The CV virus is on the comeback trail, The violence and hatred spewing in those big cities w a high black population is ridiculous.
Oh yea, and yet there's still more, 50 frikin million are unemployed and not paying rent and mortgages and power bills and car payments. The landlords not getting their rents and incomes, Can anybody else see the sh-t storm coming?
I'm trying to find a positive note here, but can't.

Offline Randoskie

  • Member
  • *****
  • Posts: 1270
Re: When will prices start dropping?
« Reply #4 on: July 13, 2020, 04:03:53 pm »
I think the real estate SHTF is coming. Watching these doomsayers on YouTube is showing some convincing facts and warnings. Probably a first wave of defaults this late summer and fall. Cud be catastrophic or just severe. Let's say about 100 million homeowners and renters out on the frikin street. And outrageous amounts of commercial bankruptcies.
I'm thinking there will be lots of houses apartments available but the working class people are out in a tent poopin on the sidewalk. These potential renters and buyers can not afford to live in a house or Apt cuz they got no frikin jobs. The landlords are losing income and equity, and can't pay their mortgages. Who you going to blame? Trump? The Virus? China?
There is going to be some price adjustments.
Meanwhile, things seem to be half-ass normal in my city, Walmart has plenty of TP and also every other product I luv, cept Monster drinks, it's hit and miss, us addicts buy them by the 10 pak.
Ribs and hamburger & chicken is up maybe 10-20%
Back in the real.
Only investors crazy enuf to weather this storm will profit on this coming cluster fruk.

Offline cthorne03

  • Member
  • *
  • Posts: 46
    • I Buy Winnipeg Houses
Re: When will prices start dropping?
« Reply #5 on: July 20, 2020, 08:21:52 am »
Who knows.

My approach is always to be prepared for the downside (have capital reserves and a game plan if the economy tanks), but to still participate in the upside because who knows how long that will last either. If you think a downturn is very close, try to stay out of projects with longer durations (flips, new builds) so you don't get stuck in a really bad spot if the market tanks.

Offline Alex Capp

  • Member
  • **
  • Posts: 81
    • Brotherly Love Real Estate
Re: When will prices start dropping?
« Reply #6 on: July 27, 2020, 08:03:01 am »
Philly hasnt seen any dips and similar to many markets is still going up. We've seen a few trends ... many owner occupants are jumping into to buy their first home to lock in the super low interest rates. That's leading to bidding wars for properties on the MLS. In regards to the off-market deals we're sourcing through our own marketing, we're getting lots of people saying they are retiring now. The pandemic is probably forcing some folks into retirement. The eviction courts also just re-opened in Philly so that's going to be interesting.

Real estate has seemed 'too perfect' so far. Commercial is probably going to take a major **** soon. And like stated before, other property owners won't be able to keep this up either and will be forced to sell.
Brotherly Love Real Estate
We Buy Houses in Philadelphia. BLRE was started by two childhood friends with a dream of flipping houses!

Offline Randoskie

  • Member
  • *****
  • Posts: 1270
Re: When will prices start dropping?
« Reply #7 on: July 28, 2020, 03:13:43 pm »
Yea, somehow the whole dam thing hasn't came crashing down yet.  But wait Kemosabe, till SHTF. How long can this forbearance and eviction holds go on? How long can 50 frikin million unemployed sit around waiting for a 1200 dollar biscuit. How can we fathom the trauma experienced by renters and mortgage holders and Landlords? How many will become homeless? Will armed neighborhood groups battle with the BLM thugs.
Well, put on some clean underwear wild investors, cuz this insane show is about to go live..

Offline Randoskie

  • Member
  • *****
  • Posts: 1270
Re: When will prices start dropping?
« Reply #8 on: August 03, 2020, 01:07:55 am »
I watched a report tonight that 1.3 million residents of New Jersey were delinquent on their utilities. So now I'm thinking, let's add up the other 49 states and holy mother of economic shi-t storms.
Ok and then what about the millions of delinquent renters and mortgages, oh yea, how many car payments are not being made and credit cards? Over half of all jobs will never come back. Hundreds of thousands of restaurants closed with waitresses and cooks and janitors not working, didnt delivery trucks keep them stocked? Is anybody traveling? Are hotels going belly up? Is anybody buying cars?
Is anybody buying clothes and shoes and appliances and furniture?

I'm a bit worried,

Offline Randoskie

  • Member
  • *****
  • Posts: 1270
Re: When will prices start dropping?
« Reply #9 on: August 08, 2020, 03:07:28 pm »
Is anybody doing deals? I been all doom and gloom lately. I got this weird feeling that we are seeing the beginning of the end of our civilization.
Maybe some kind of civil war?
These humans are an interesting primitive species.
They drool over power, what kind of insanity is this? And the military and police have all these cool bad ass weapons that we are not allowed to own.

Back on the farm

I had one buddy do a wholesaling deal a few months ago, his description of the process and all he went thru was impressive. The visits he made to the seller and befriending the ol guy, the seller was a foreigner and the negotiations went on for months. He was finally able to squeeze a 3K profit.
So now I'm thinking, with some new brain cells that have been re-generating, I ask myself, Do I spend a few hundred buks for the start of a direct mail campaign or use that money to stock up on beans and rice and prepare for the collapse of our way of life???

Offline KimberlyJames

  • Member
  • *
  • Posts: 2
Re: When will prices start dropping?
« Reply #10 on: August 09, 2020, 06:42:36 am »
We should wait a little bit

Offline cashhousebuyergta

  • Member
  • *
  • Posts: 16
    • Cash House Buyer GTA
Re: When will prices start dropping?
« Reply #11 on: August 09, 2020, 02:11:39 pm »
There is too much government stimulus, payment deferral and money printing to see the true state of the economy and have realistic price discovery of assets including real estate.

Probably still to early to predict any sort of timeline for price decreases.

Offline brownie17

  • Member
  • *
  • Posts: 2
Re: When will prices start dropping?
« Reply #12 on: August 14, 2020, 05:01:56 am »
Thank you for your comments, I was interested to read them.

 




SMF 2.0.15 | SMF © 2017, Simple Machines