So when’s the housing bubble bursting?
- Thread starter Dr. Truth
- Start date
Nothing like 08 where people working retail jobs could qualify for 700k mortgages. Getting a loan today is way harder and you need max proof of income. So no this is nothing like 08 and will not be some big crash.
I was watching some of the videos from Orlando Miner and he said there is a large % of people that still have ARM loans.
Yes, but the are more protected this time around.
here is an example from where I’m going to get my loan from.
State Employees' Credit Union - Adjustable Rate Mortgages (ARM)
The Credit Union offers a unique Adjustable Rate Mortgage product.
Also, I’m not sure ARMs if were limited to change ever 5 years when 2008 happened. It seems like people were buying houses with ARMs and not long afterwards, the rates went up and they no longer could afford the payments.
so this crash will not be like 2008. I think this crash will look like more of a loss of equity for those that overpaid for houses.
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That's exactly what it will be......except no bailouts for companies like AIG, Fannie Mae, and Freddie Mac, other financial institutions, etc again....
Alot of big companies adjust salary rates with rising inflation.....and those that don't want to hand out raises......will start with massive layoffs to cut costs. It's already started happening at one of the jobs I work at.
Why you Ninjas keep moving to GA and TEX then?California is one of the best places to live period. Also if you lived in Cali you would make way more money.
ARMs are what caused a lot of Black folk to lose homes in 07 - 08Yes, but the are more protected this time around.
here is an example from where I’m going to get my loan from.
“Because the interest rate may only be adjusted every five years, this product offers additional protection against rising rates1. The rate may not change by more than 2% every five years or 6% over the life of the loan.State Employees' Credit Union - Adjustable Rate Mortgages (ARM)
The Credit Union offers a unique Adjustable Rate Mortgage product.www.ncsecu.org
Also, I’m not sure ARMs where limited to change ever 5 years when 2008 happened. It seems like people where buying houses with ARMs and not long afterwards, the rates went up and they no longer could afford the payments.
so this crash will not be like 2008. I think this crash will look like more of a loss of equity for those that overpaid for houses.
One in four Canadian millennials believe they will never own a home, survey finds
Despite the cooling housing market, 25 per cent of non-homeowner millennials in Canada still say they believe they will never own a home, according to a new survey.
A Toronto house less than 10 feet wide just hit the market for nearly $2M
If you aren’t looking closely, you could miss 138 St Clarens Avenue – the home, newly listed at nearly $2 million, located in Toronto's Little Portugal is only eight feet wide.
Revised: Odds of falling home prices in your local housing market, as told by one interactive map
CoreLogic: These 125 housing markets have a greater than 50% chance of seeing falling home prices over the next 12 months.
Eying on selling my home outside of Orlando. We bought it in 2016 for 222K. We owe like 185K on our mortgage. It's current estimated value on Redfin is 475K. That's not even including the following updates we have made:
- new AC unit
- new Hot water tank
- Screened pool/patio and garage
- New front doors (went from single to double doors)
- New roof (just last month)
Anybody ever think of living on a boat?
How many Blacks folks you know have done it?
White folks been in this game for decades.
$229k 1990 Neptunus 62 Flybridge Power Motor Yacht Tour
How many Blacks folks you know have done it?
White folks been in this game for decades.
$229k 1990 Neptunus 62 Flybridge Power Motor Yacht Tour
This Gates-Backed Startup Builds Modular Homes Out of Energy-Efficient Panels
Vanessa Bates Ramirez
4 weeks ago
As you might have heard, we’re in the midst of a housing crisis, not only in the US but in many parts of the world. It’s been going on since before the pandemic, but Covid-19 and its lockdowns, supply chain disruptions, and labor shortages have made the problem worse.
Companies specializing in cutting-edge construction techniques are aiming to make a difference by churning out high-quality homes at a lower cost than traditional industry standards. Among these are 3D printed homes, “foldable” homes, and homes that ship in kits then are assembled like Ikea furniture.
Now a new player is joining the list, and it just got a serious financial boost. Vantem Global has already helped construct a total of over three million square feet of living space in six different countries, and earlier this month closed a Series A funding round co-led by Breakthrough Energy Ventures (Breakthrough was founded by Bill Gates in 2015 to invest in sustainable energy and emissions-reduction technologies).
Vantem’s energy-efficient prefabricated homes are made of structural panels. The panels were designed as a replacement for brick and cement, which are expensive, difficult to make, and heavy on emissions. Each panel consists of an insulating layer sandwiched by tiles made of a cement-like material. Since the panels are more similar to cement than wood or plastic are, they’re more likely to be positively perceived by customers who are used to cement (as many in Latin America are, where Vantem has thus far focused most of its construction).
The panels aren’t just used for exterior walls, they’re for interior walls and roofs too. Production of the panels is highly automated, and they’re shipped to building sites pre-cut and ready for installation. They’re highly modular and can be used for multi-story buildings, commercial spaces, or single-family homes—and in fact have already been used for a hotel in Uruguay, high-end housing, and low-cost housing, among other projects.
Vantem says the panels are safe for use in high seismic zones and areas with hurricane-level winds, and that the insulation they provide is up to five times better than traditional building materials; that makes for higher energy efficiency since there’s less leakage of heating and cooling. They’re also resistant to fire, water, and insects.
Vantem’s system has been used on buildings in Uruguay, Brazil, Bolivia, Chile, Colombia, and the Caribbean. The company plans to use its Series A funds to expand its operations in the US, namely by building 15 factories to produce its panels. Facilities are planned for Arizona, California, Texas, and North and South Dakota in 2023, with additional sites to be determined and built by the end of the decade. Each Vantem factory will reportedly be able to churn out materials for more than a million square feet of housing a year.
“Construction in this sector has seen the least amount of innovation and productivity gains and is one of the greatest direct and indirect sources of carbon emissions,” said Vantem CEO Chris Anderson in a press release. “At the same time, affordable housing is a global need that must be addressed, but if we build with traditional methods, we will solve one problem only to worsen another. At Vantem, we are committed to addressing both challenges on a global scale.” One project Vantem has in the works entails building 3,000 units of affordable housing in Uruguay.
Vantem isn’t the first company to try putting a hip new spin on prefab and modular homes. Las Vegas-based Boxabl ships pre-fabricated “foldable” houses in a 20-foot-wide load, and once delivered the homes can be up and running in as little as a day. Similarly, Seattle-based Green Canopy NODE homes come in flat-pack kits that fit in standard shipping containers, and they don’t require specialists to assemble.
A 2019 McKinsey report on modular construction says the technique is seeing a comeback, largely thanks to technological improvements; digital tools have facilitated the design of modules and helped optimize delivery logistics. In addition, consumer perception of prefab housing is improving as its designs take on a sleek, modern character. Most importantly, modular construction assisted by digital technologies can make home building up to 50 percent faster, at a cost that’s comparable to or lower than traditional building costs.
According to Anderson, Vantem’s technique makes the building process 50 percent faster than traditional construction methods and around 20 percent less expensive. Adding solar panels makes the buildings net zero (though they don’t come standard as part of the building; their integration will be up to individual homeowners or developers).
Though there are no Vantem homes in the US yet, there could soon be many, with construction of its first domestic factories slated to start next year. With the ongoing shortage would-be homebuyers are experiencing—particularly first-time homebuyers—it won’t be surprising if Vantem quickly has people lining up to put down a deposit.
Vanessa Bates Ramirez
4 weeks ago
This Gates-Backed Startup Builds Modular Homes Out of Energy-Efficient Panels
The panels were designed as a replacement for brick and cement, which are expensive, difficult to make, and heavy on emissions.
singularityhub.com
As you might have heard, we’re in the midst of a housing crisis, not only in the US but in many parts of the world. It’s been going on since before the pandemic, but Covid-19 and its lockdowns, supply chain disruptions, and labor shortages have made the problem worse.
Companies specializing in cutting-edge construction techniques are aiming to make a difference by churning out high-quality homes at a lower cost than traditional industry standards. Among these are 3D printed homes, “foldable” homes, and homes that ship in kits then are assembled like Ikea furniture.
Now a new player is joining the list, and it just got a serious financial boost. Vantem Global has already helped construct a total of over three million square feet of living space in six different countries, and earlier this month closed a Series A funding round co-led by Breakthrough Energy Ventures (Breakthrough was founded by Bill Gates in 2015 to invest in sustainable energy and emissions-reduction technologies).
Vantem’s energy-efficient prefabricated homes are made of structural panels. The panels were designed as a replacement for brick and cement, which are expensive, difficult to make, and heavy on emissions. Each panel consists of an insulating layer sandwiched by tiles made of a cement-like material. Since the panels are more similar to cement than wood or plastic are, they’re more likely to be positively perceived by customers who are used to cement (as many in Latin America are, where Vantem has thus far focused most of its construction).
The panels aren’t just used for exterior walls, they’re for interior walls and roofs too. Production of the panels is highly automated, and they’re shipped to building sites pre-cut and ready for installation. They’re highly modular and can be used for multi-story buildings, commercial spaces, or single-family homes—and in fact have already been used for a hotel in Uruguay, high-end housing, and low-cost housing, among other projects.
Vantem says the panels are safe for use in high seismic zones and areas with hurricane-level winds, and that the insulation they provide is up to five times better than traditional building materials; that makes for higher energy efficiency since there’s less leakage of heating and cooling. They’re also resistant to fire, water, and insects.
Vantem’s system has been used on buildings in Uruguay, Brazil, Bolivia, Chile, Colombia, and the Caribbean. The company plans to use its Series A funds to expand its operations in the US, namely by building 15 factories to produce its panels. Facilities are planned for Arizona, California, Texas, and North and South Dakota in 2023, with additional sites to be determined and built by the end of the decade. Each Vantem factory will reportedly be able to churn out materials for more than a million square feet of housing a year.
“Construction in this sector has seen the least amount of innovation and productivity gains and is one of the greatest direct and indirect sources of carbon emissions,” said Vantem CEO Chris Anderson in a press release. “At the same time, affordable housing is a global need that must be addressed, but if we build with traditional methods, we will solve one problem only to worsen another. At Vantem, we are committed to addressing both challenges on a global scale.” One project Vantem has in the works entails building 3,000 units of affordable housing in Uruguay.
Vantem isn’t the first company to try putting a hip new spin on prefab and modular homes. Las Vegas-based Boxabl ships pre-fabricated “foldable” houses in a 20-foot-wide load, and once delivered the homes can be up and running in as little as a day. Similarly, Seattle-based Green Canopy NODE homes come in flat-pack kits that fit in standard shipping containers, and they don’t require specialists to assemble.
A 2019 McKinsey report on modular construction says the technique is seeing a comeback, largely thanks to technological improvements; digital tools have facilitated the design of modules and helped optimize delivery logistics. In addition, consumer perception of prefab housing is improving as its designs take on a sleek, modern character. Most importantly, modular construction assisted by digital technologies can make home building up to 50 percent faster, at a cost that’s comparable to or lower than traditional building costs.
According to Anderson, Vantem’s technique makes the building process 50 percent faster than traditional construction methods and around 20 percent less expensive. Adding solar panels makes the buildings net zero (though they don’t come standard as part of the building; their integration will be up to individual homeowners or developers).
Though there are no Vantem homes in the US yet, there could soon be many, with construction of its first domestic factories slated to start next year. With the ongoing shortage would-be homebuyers are experiencing—particularly first-time homebuyers—it won’t be surprising if Vantem quickly has people lining up to put down a deposit.
Great concept, but what about long term durability?This Gates-Backed Startup Builds Modular Homes Out of Energy-Efficient Panels
Vanessa Bates Ramirez
4 weeks ago
This Gates-Backed Startup Builds Modular Homes Out of Energy-Efficient Panels
The panels were designed as a replacement for brick and cement, which are expensive, difficult to make, and heavy on emissions.singularityhub.com
As you might have heard, we’re in the midst of a housing crisis, not only in the US but in many parts of the world. It’s been going on since before the pandemic, but Covid-19 and its lockdowns, supply chain disruptions, and labor shortages have made the problem worse.
Companies specializing in cutting-edge construction techniques are aiming to make a difference by churning out high-quality homes at a lower cost than traditional industry standards. Among these are 3D printed homes, “foldable” homes, and homes that ship in kits then are assembled like Ikea furniture.
Now a new player is joining the list, and it just got a serious financial boost. Vantem Global has already helped construct a total of over three million square feet of living space in six different countries, and earlier this month closed a Series A funding round co-led by Breakthrough Energy Ventures (Breakthrough was founded by Bill Gates in 2015 to invest in sustainable energy and emissions-reduction technologies).
Vantem’s energy-efficient prefabricated homes are made of structural panels. The panels were designed as a replacement for brick and cement, which are expensive, difficult to make, and heavy on emissions. Each panel consists of an insulating layer sandwiched by tiles made of a cement-like material. Since the panels are more similar to cement than wood or plastic are, they’re more likely to be positively perceived by customers who are used to cement (as many in Latin America are, where Vantem has thus far focused most of its construction).
The panels aren’t just used for exterior walls, they’re for interior walls and roofs too. Production of the panels is highly automated, and they’re shipped to building sites pre-cut and ready for installation. They’re highly modular and can be used for multi-story buildings, commercial spaces, or single-family homes—and in fact have already been used for a hotel in Uruguay, high-end housing, and low-cost housing, among other projects.
Vantem says the panels are safe for use in high seismic zones and areas with hurricane-level winds, and that the insulation they provide is up to five times better than traditional building materials; that makes for higher energy efficiency since there’s less leakage of heating and cooling. They’re also resistant to fire, water, and insects.
Vantem’s system has been used on buildings in Uruguay, Brazil, Bolivia, Chile, Colombia, and the Caribbean. The company plans to use its Series A funds to expand its operations in the US, namely by building 15 factories to produce its panels. Facilities are planned for Arizona, California, Texas, and North and South Dakota in 2023, with additional sites to be determined and built by the end of the decade. Each Vantem factory will reportedly be able to churn out materials for more than a million square feet of housing a year.
“Construction in this sector has seen the least amount of innovation and productivity gains and is one of the greatest direct and indirect sources of carbon emissions,” said Vantem CEO Chris Anderson in a press release. “At the same time, affordable housing is a global need that must be addressed, but if we build with traditional methods, we will solve one problem only to worsen another. At Vantem, we are committed to addressing both challenges on a global scale.” One project Vantem has in the works entails building 3,000 units of affordable housing in Uruguay.
Vantem isn’t the first company to try putting a hip new spin on prefab and modular homes. Las Vegas-based Boxabl ships pre-fabricated “foldable” houses in a 20-foot-wide load, and once delivered the homes can be up and running in as little as a day. Similarly, Seattle-based Green Canopy NODE homes come in flat-pack kits that fit in standard shipping containers, and they don’t require specialists to assemble.
A 2019 McKinsey report on modular construction says the technique is seeing a comeback, largely thanks to technological improvements; digital tools have facilitated the design of modules and helped optimize delivery logistics. In addition, consumer perception of prefab housing is improving as its designs take on a sleek, modern character. Most importantly, modular construction assisted by digital technologies can make home building up to 50 percent faster, at a cost that’s comparable to or lower than traditional building costs.
According to Anderson, Vantem’s technique makes the building process 50 percent faster than traditional construction methods and around 20 percent less expensive. Adding solar panels makes the buildings net zero (though they don’t come standard as part of the building; their integration will be up to individual homeowners or developers).
Though there are no Vantem homes in the US yet, there could soon be many, with construction of its first domestic factories slated to start next year. With the ongoing shortage would-be homebuyers are experiencing—particularly first-time homebuyers—it won’t be surprising if Vantem quickly has people lining up to put down a deposit.
I think most home construction with be from automation with modular home building. I think the cost of construction will plummet and vacant lots will increase in value. Makes too much sense. We are at least 10 years from this though.
Im not sure about the Gates backed ones in particular, but Modular homes are more durable than traditional stick built ones.
Mountain Modern — ch x tld
A beautiful new mountain retreat for a large family, with expansive windows walls and high end finishes throughout.
www.cleverhomes.net
DO IT
When I think of modular pre built homes, mobile, trailer park type homes come to mind. Those are typically not as durable as stick built homes.Im not sure about the Gates backed ones in particular, but Modular homes are more durable than traditional stick built ones.
Mountain Modern — ch x tld
A beautiful new mountain retreat for a large family, with expansive windows walls and high end finishes throughout.
Yeah there is a wide range of prefabricated construction types. What you are describing isn’t modular though.
You're right. There's a wide range of building techniques and standards. Its up to everyone to understand them and buy the best construction they can afford.
Yeah this is definitely starting to look like the place I will be re-locating too....
Good luck out there, fam. You got kids in school?
Man...I'm close. Have a few small weekend projects I need to finish up and then I'm listing it. Hell, I might just move into my childhood home with my wife and kids so I don't have to rush into something. My mother has the space for us to stay a month or two lolz. Mom dukes is excited and I'm happy about the prospect. My kids have zero family down here but I have a gang of cousins back home plus my mother isn't getting any younger.
Thanks. Yeah we working on that. One of the main reasons plus it’s close to Ballantyne and I love that area.
When you see shit like this you should know what's coming. They have already squeeze all the big money buyers now that well has dried up they are going bottom feeding and some people will jump head first cause they will see the reduced prices and not the fine print. BOA won't be the only one offering this deal and before you know it 2008 all over again.
When you see shit like this you should know what's coming. They have already squeeze all the big money buyers now that well has dried up they are going bottom feeding and some people will jump head first cause they will see the reduced prices and not the fine print. BOA won't be the only one offering this deal and before you know it 2008 all over again.
classic predatory lending
Take a look at this home I found on Realtor.com
4339 Metropolitan Ave, Dallas
$200,000 · 3beds · 2.5baths
Realtor.com Real Estate & Rent
Find a home that’s perfect for you with the award-winning, easy-to-use Realtor.com® Real Estate app. The #1 app trusted by real estate professionals* *Based on an Aug. 2024 proprietary survey among real estate professionals. Whether you’re renting, buying, or looking for a home’s estimated...apps.realtor.com
Take a look at this home I found on Realtor.com
4015 Metropolitan Ave, Dallas
$200,000 · 3beds · 2baths
Realtor.com Real Estate & Rent
Find a home that’s perfect for you with the award-winning, easy-to-use Realtor.com® Real Estate app. The #1 app trusted by real estate professionals* *Based on an Aug. 2024 proprietary survey among real estate professionals. Whether you’re renting, buying, or looking for a home’s estimated...apps.realtor.com
sunny south dallas .....
One thing that will contribute to a housing bust that is not being discussed.
That is the quality of these homes currently being built. A lot of these homes being built by these large companies like DH Horton and KB Homes are building shitty homes.
There are a shit load of lawsuits thru-out the country on these homes that have been built since 2000.
Lot of folks in hot climates are buying these 2500sq Ft, two story homes. It gets warm, they crank up the AC to full blast and the home is still hot.
They give up trying to get the warranty thru the builder and call out a local HVAC guy. He drops the bomb on them telling them the house only has one AC unit that cannot cool a two story home. A 2 story home needs 2 AC units.
The homeowner gots to shell out a shit load of money to add a whole new system into the home cuz they ain’t got time waiting on a lawsuit to go thru.
Folks getting homes with faulty foundations, leaky roofs, leaking plumbing, bad or insufficient electrical and a whole list of other issues.
A lot of shit can’t be discovered by a home inspector unless he tears the whole house apart.
And buying a home from a previous owner. You ain’t got no clue what crazy DIY “HGTV” home renovation they did that won’t reveal itself until after you move in.
Nowadays, you taking a big risk and gamble on these homes.
That is the quality of these homes currently being built. A lot of these homes being built by these large companies like DH Horton and KB Homes are building shitty homes.
There are a shit load of lawsuits thru-out the country on these homes that have been built since 2000.
Lot of folks in hot climates are buying these 2500sq Ft, two story homes. It gets warm, they crank up the AC to full blast and the home is still hot.
They give up trying to get the warranty thru the builder and call out a local HVAC guy. He drops the bomb on them telling them the house only has one AC unit that cannot cool a two story home. A 2 story home needs 2 AC units.
The homeowner gots to shell out a shit load of money to add a whole new system into the home cuz they ain’t got time waiting on a lawsuit to go thru.
Folks getting homes with faulty foundations, leaky roofs, leaking plumbing, bad or insufficient electrical and a whole list of other issues.
A lot of shit can’t be discovered by a home inspector unless he tears the whole house apart.
And buying a home from a previous owner. You ain’t got no clue what crazy DIY “HGTV” home renovation they did that won’t reveal itself until after you move in.
Nowadays, you taking a big risk and gamble on these homes.
Good points.
Agreed re: the quality of the home builds. I've said to some friends and family over the years one simple thing I find a complete eyesore is when you see cheap, shitty fences put up. They clearly don't care about the general curb appeal of the place when you see fences that won't be durable or able to withstand rainy weather markets, or will show considerable wear and tear over time.
Here in B.C. there were horror stories for years with leaky condo roofs - especially from certain builders. And everyone knows it pours like crazy in the Pacific Northwest during stretches of the fall and winter months. Going cheap on roofs led to so many insurance / restoration claims, etc.
Yes - people with their DIY / HGTV projects wherein they take on too much and take forever to complete projects, and don't get it right in the end. And the next owner inherits their problems. It's telling when those HGTV show hosts go to some places and scratch their heads like - "What the fuck were you thinking? Why did this 1-week project take you 18 months to complete? And you still fucked it up?!"