Lol no, they didn't.
You think it was first-time home buyers buying up homes and bringing housing back to an all-time high?
The naivety of this sub....
https://journals.sagepub.com/doi/10.1177/00961442211029601
"Having historically been avoided by institutional financial investors, U.S. single-family housing—that is, free-standing residential property—received large investment inflows after the global financial crisis of 2007-2009 to rapidly become a substantial asset class. Why? And why then? The materialization of an unprecedented investment opportunity—large stocks of cheap, favorably located urban housing—was certainly pivotal. But the attractiveness of that opportunity was enhanced by a series of parallel and (for investors) propitious historical shifts in four key realms: technology, finance, housing supply, and ideas. In short, the investment transformation that occurred was “overdetermined.” The article develops this argument with a focus on investment by the firm that led the way: the Blackstone Group."
Yeah it's hilarious to see people think they are the only ones who are going to make it through a crash scenario unscaved and that all investors would just walk away from the opportunity to buy at the bottom.
EVERYONE is waiting for a crash.
The other issue is that banks don't lend in falling knife scenarios. So good luck getting a mortgage while real estate is in a freefall.
What classification did you leave as?
My experience as an Accountant Trainee was world's different than my experience as an AGPA and manager.
No need for a "rebuttal." Without regulation we wouldn't have "different cultural values."
There needs to be an organized standard without profit motive.
LOL, because interest rates are high and insurance issues. Unemployment is currently 4%. Unemployment in 2009 was 10%.
It's really hilarious to watch you all think every news story is the indicator of a potential crash.
There were more than 3.1 million foreclosure filings issued during 2008, which means that one of every 54 households received a notice that year.
Looonnggg way to go......
I understand and support what you are saying in your original comment.
You'd be surprised at the number of eyes on this type of content. You don't want people to dismiss your very good ideas because they don't understand what's being said.
You can really persuade people with your background.
We need a series of pre-approved middle density infill design schematics that can close the loop on the expedited front end coordination to get construction boots on the ground as quickly as possible.
You also have some unnecessary filler words that forced me to reread it several times to understand what was being said.
"We need a series of pre-approved middle density infill design schematics that can expedite front-end coordination to get construction boots on the ground as quickly as possible."
I see you are being downvoted, but I agree. The first sentence sounds like literal gibberish. "can can"
What are you doing to prepare for the crash?
Sure, but then I would have to rent....
Renting sucks....
Ah but it is a good way to get wealthy.
I’ll gladly take a ninja h2 over years of wasted rent year after year.
Every cent should go to not needing to rely on others for support for extended periods of time. Owning a Ninja H2 and living with parents definitely is no flex.
My man, you just proved her point.
Im curious.... do you think you'll be unaffected by the insurance crisis if you buy in Florida?
Eh I remember hearing about quite a few rent back situations where the seller became a tenant for x amount days after closing, when the market was peaking....
An unmotivated seller would absolutely remain in their home until they get the right price.
The price of having let’s say 1m$ of capital stuck in a home because you refuse to lower the price by 10% is irrational.
The vast majority of seller's agents utilize comps to set list price. That means that at some point in the recent past a home sold at or near the listed price.
That means there is no irrationality in the set price because at one point the market supported it. There is a lag in the market between comps and listing.
After a couple months you will need to lower it anyways and you will have lost probably 50k$ of opportunity cost.
These are sellers that really don't need to sell. If I am comfortable living in my home and want to see if I can get x amount of dollars for my house, even if it is way above market comps I am communicating that I don't need to sell until x amount of dollars is met.
There is no negative effect on a comfortable seller waiting until they get their terms met because whether the house sells or not really doesn't matter much to them.
It is sort of like when a contractor charges a large sum of money for a small job. The person needs to make it worth it for the contractor to want to complete the small job.
So irrationally they continue to list their house at the same price as 2 years ago, and those houses are sitting all over the country. That's why you can see inventory growing.
It's only an irrational decision if they can't afford to list at that price and they keep their price high. Many of these high listings are not from distressed sellers. In this market, sellers are listing at a price saying to the market, take it or leave it.
More and more are leaving it, which will force those who have to sell to drop their prices. But the people who are in no danger of foreclosure and dont NEED to sell will keep their prices high.
The primary issue is that there hasn't been a black swan event to force people to sell in mass. Sellers are still in a better position.
Then hardly anyone makes a good wage. 🤷🏾♂️
120k is a fantastic wage.... just not for real estate.
120k is a fantastic wage.... just not for Lamborghinis.
Say it with me, real estate is no longer a barometer for the middle class.
You can live in a very nice apartment, drive a Tesla, invest in stocks all on 120k income in Sac.
Your definition of "good" income is outdated.
https://www.visualcapitalist.com/median-house-prices-vs-income-us/
Income isn't rising fast enough to keep up with housing.... it's math....
One look at that chart, and you realize owning real estate is leaving the purview of the middle class. This country is moving toward a renter model and definitions of the middle class changing.
Do you think corporations are going to raise the median wage to keep up with real estate?
The definition of "good" income won't be tied to real estate.... wake up from your dream. It's 2024.
All the company would need to do is prove they hired a qualified candidate. No payday lol
"If you have 3 white supervisors, don't promote another" company hired speaker in a presentation to my bosses. Should I bring up my concerns?
Career_Advice