So when’s the housing bubble bursting?

[blackbull1970]

When the starter home becomes the forever home

When Vickie Franzen and her husband, Jon Crenshaw, bought their first house in Roseville, Calif., in 2018, they never expected they would still be there in 2024, weighing whether to squeeze a desk into the nursery along with the crib, so the space could double as an office. Both tech workers...

www.yahoo.com

This is my situation.

Brought my home in 2003 for $150k brand new and I’m under a 4% rate.

No way in hell I’m leaving with what they pricing homes at along with high rates.

 

[Helico-pterFunk]

Ariana Grande Sells Hollywood Hills Hideaway at a Loss to Bad Bunny

The Puerto Rican rapper forked over $8.3 million for the 1,600-square-foot cottage, a hefty $600,000 less than what Grande herself paid just two years ago.

robbreport.com

NBA Star Rui Hachimura Nets an All-New Los Angeles Farmhouse

The recently re-signed Lakers forward paid $7.2 million for a modern home in the San Fernando Valley neighborhood of Encino.

robbreport.com

F1’s Jenson Button Is Putting His Fully Redone SoCal Mansion on the Market for $8 Million

The former Formula 1 champ and his interior design wife Brittny purchased the Calabasas estate for $3.7 million in winter 2021, then renovated it from top to bottom.

robbreport.com

Maria Sharapova Scores an $11 Million Montecito Estate

Situated on 3.3 hillside acres next door to Katy Perry’s main residence, the serene property was sold by the widow of a Chicago real estate tycoon.

robbreport.com

Charlie Puth Is Asking $17 Million for His Rex Lotery-Designed House in Beverly Hills

The pop singer-songwriter originally picked up the midcentury residence in the Trousdale Estates neighborhood for around $9 million.

robbreport.com

 

[praetor]

 

[Helico-pterFunk]

Pallet shelters expected to arrive in the Halifax area by the end of the month

The Government of Nova Scotia will set up Pallet village for people experiencing homelessness near the end of the month at the earliest.

atlantic.ctvnews.ca

Nova Scotia spends $3M for new 50-bed temporary shelter in Halifax

The Nova Scotia and Halifax governments are opening a new temporary shelter later this month.

atlantic.ctvnews.ca

 

[Dr. Truth]

3 reasons why rich Californians are selling their mansions and moving to Las Vegas — Mark Wahlberg and Dean Cain have already made the move

Would you move your family to the "Disneyland for Adults"?

By Lou Carlozo
January 11, 2024

https://moneywise.com/news/real-estate-news/3-reasons-why-rich-californians-moving-to-las-vegas

Right wing scum that’s why

 

[praetor]

 

[praetor]

 

[havelcok]

 

[praetor]

Here's where he got the map.

 

[Helico-pterFunk]

 

[^SpiderMan^]

This is a factor that I had not considered. I believe PMI insurance companies are often different than the home owner insurance companies though.

 

[Helico-pterFunk]

 

[Helico-pterFunk]

 

[praetor]

 

[havelcok]

 

[kdogg3270]

i've said this a million times, both on here and in real life. ALL these big corporations are run by criminals. EVERY one of them. Not surprised by this one bit.

 

[praetor]

 

[blackbull1970]

Converting vacant office buildings into apartments

Real estate firms are reusing existing structures rather than tearing them down and rebuilding on the site, in part, because repurposing buildings is significantly better for than environment.

By Brit McCandless Farmer
January 14, 2024

Converting vacant office buildings into apartments

Transforming unused office buildings into urban housing could solve two problems rippling through the real estate world — if only it were so easy.

www.cbsnews.com

Real estate owners saddled with half-empty office buildings as hybrid work trend continues

By Jon Wertheim
January 14, 2024

Real estate owners saddled with half-empty office buildings as hybrid work trend continues

Hybrid work has put office building owners in a bind and could pose a risk to banks. Landlords are now confronting the fact that some of their office buildings have become obsolete, if not worthless.

www.cbsnews.com

Scott Rechler, CEO of real estate company RXR, with Jon Wertheim ​

 

[Dr. Truth]

What is the point of articles like this? Are people looking at their houses like the stock market? Shit goes up and down over time. Are these people all house flippers? Stop looking at your house as a fucking asset and look at it as a place to live , shelter. I could give a fuck if my house value drops 20%. I’m not selling it and things are cyclical. All these panic doom and gloom tweets from realtors are annoying. They only worried about their commission dropping

 

[^SpiderMan^]

Converting vacant office buildings into apartments

Real estate firms are reusing existing structures rather than tearing them down and rebuilding on the site, in part, because repurposing buildings is significantly better for than environment.

By Brit McCandless Farmer
January 14, 2024

Converting vacant office buildings into apartments

Transforming unused office buildings into urban housing could solve two problems rippling through the real estate world — if only it were so easy.

www.cbsnews.com

Real estate owners saddled with half-empty office buildings as hybrid work trend continues

By Jon Wertheim
January 14, 2024

Real estate owners saddled with half-empty office buildings as hybrid work trend continues

Hybrid work has put office building owners in a bind and could pose a risk to banks. Landlords are now confronting the fact that some of their office buildings have become obsolete, if not worthless.

www.cbsnews.com

Scott Rechler, CEO of real estate company RXR, with Jon Wertheim ​

“But only around 10%-15% of office buildings nationwide can realistically be transformed to housing…”

What is the point of articles like this? Are people looking at their houses like the stock market? Shit goes up and down over time. Are these people all house flippers? Stop looking at your house as a fucking asset and look at it as a place to live , shelter. I could give a fuck if my house value drops 20%. I’m not selling it and things are cyclical. All these panic doom and gloom tweets from realtors are annoying. They only worried about their commission dropping

If looking at housing purely as a place to live, it makes the most sense to Rent. Especially in areas with high property tax and/or insurance rates.

 

[DC_Dude]

HUD about to be on that ASS

 

[blackbull1970]

“But only around 10%-15% of office buildings nationwide can realistically be transformed to housing…”


If looking at housing purely as a place to live, it makes the most sense to Rent. Especially in areas with high property tax and/or insurance rates.

The main point of a house is too pay it off and gain equity on it.

You retire and pass the home to your children.

It’s one of the reasons Blacks are behind on generational wealth. Post WW2 Whites we’re buying homes for dirt cheap and passed those homes down to their children/grandchildren who are profiting from them today.

Blacks were denied access to home buying post-WW2 and just recently in the past 30 years were able to get the capital and access to buy houses.

 

[^SpiderMan^]

The main point of a house is too pay it off and gain equity on it.

You retire and pass the home to your children.

It’s one of the reasons Blacks are behind on generational wealth. Post WW2 Whites we’re buying homes for dirt cheap and passed those homes down to their children/grandchildren who are profiting from them today.

Blacks were denied access to home buying post-WW2 and just recently in the past 30 years were able to get the capital and access to buy houses.

I agree with all of that.

 

[Hey Julian!]

What is the point of articles like this? Are people looking at their houses like the stock market? Shit goes up and down over time. Are these people all house flippers? Stop looking at your house as a fucking asset and look at it as a place to live , shelter. I could give a fuck if my house value drops 20%. I’m not selling it and things are cyclical. All these panic doom and gloom tweets from realtors are annoying. They only worried about their commission dropping

If you've bought a house during the last 2-3 years, you're mostly likely looking at it constantly because there is a very likely chance you overpaid and are now in negative equity. That's never a good feeling especially if you need to sell and can't because you're upside down. I agree over the long term housing will almost always recover but, this is 2008 type stuff in terms or market uncertainty. Realtors all want to bullshit people saying buy now before it's late, but the reality is inventory is up, but prices NEED to come down because an 7.5%mortagage today on a $300K home vs 2.5 a little over a year ago is $900 more a month in principal. That's a 56% higher payment. Shit is just not affordable. Layoffs are starting and that's when foreclosures will pick up. Houses haven't come down that much in price and people's pay hasn't gone up that much either. Market is stagnant as fuck and everybody is waiting on the Feds to drop rates. I doubt it will go down this year as they are predicting and that's good to keep inflation and prices down. Shit we should've done in 2008 and just kicked down the road and now the only parachute low rates will fuck shit up even more if they drop because prices will get over inflated again. There's gonna a lot of pain in the economy. My Q7 got totaled a few months back and I said fuck it I'm not financing another car right now and bought a car cash. Glad I did, that extra $700 a month is useful right now.

 

[praetor]

What is the point of articles like this? Are people looking at their houses like the stock market? Shit goes up and down over time. Are these people all house flippers? Stop looking at your house as a fucking asset and look at it as a place to live , shelter. I could give a fuck if my house value drops 20%. I’m not selling it and things are cyclical. All these panic doom and gloom tweets from realtors are annoying. They only worried about their commission dropping

A lot of people who were priced out of home ownership (especially first time homebuyers) are eagerly waiting for prices to come back down.

Nick has been predicting a 2008 level crash for years now. Lol.

 

[blackbull1970]

Here are the 20 cities where home prices could see the biggest gains in 2024 — and where prices could fall

While home prices are expected to appreciate by 2.5% nationally this year, residential real estate in 20 U.S. cities could see pricing gains of at least double that rate, property research firm said. At the same time, a handful of metropolitan areas could see home prices fall, the analysis found.

By Aimee Picchi
Edited By Alain Sherter
January 16, 2024

Here are the 20 cities where home prices could see the biggest gains in 2024 — and where prices could fall

Mortgage rates are still much higher than two years ago, but pent-up demand is driving home prices higher, one economist says.

www.cbsnews.com

 

[blackbull1970]

Thousands of US Cities Could Verge on Becoming Ghost Towns by 2100, Study Finds

A new study has run the numbers and found that by the end of the century, almost half of the nearly 30,000 cities in the US will face some sort of population decline, losing between 12 to 23 percent of their resident population.

By CLARE WATSON
16 January 2024

Thousands of US Cities Could Verge on Becoming Ghost Towns by 2100, Study Finds

In 2100, our world will likely look drastically different to what it does today, either reshaped by natural forces driven by climate change or by humans saving their own skin.

www.sciencealert.com

 

[DC_Dude]

Here are the 20 cities where home prices could see the biggest gains in 2024 — and where prices could fall

While home prices are expected to appreciate by 2.5% nationally this year, residential real estate in 20 U.S. cities could see pricing gains of at least double that rate, property research firm said. At the same time, a handful of metropolitan areas could see home prices fall, the analysis found.

By Aimee Picchi
Edited By Alain Sherter
January 16, 2024

Here are the 20 cities where home prices could see the biggest gains in 2024 — and where prices could fall

Mortgage rates are still much higher than two years ago, but pent-up demand is driving home prices higher, one economist says.

www.cbsnews.com

Interesting to see Alaska on that list.

 

[DC_Dude]

@praetor or @blackbull1970 - how many fed rate cuts or basis points would it take for rates to go down .5 or 1%??? 3% for rates is probably never coming back, but do you think we could see maybe 4.5%??

 

[blackbull1970]

@praetor or @blackbull1970 - how many fed rate cuts or basis points would it take for rates to go down .5 or 1%??? 3% for rates is probably never coming back, but do you think we could see maybe 4.5%??

The Fed historically raises rates when a Democratic POTUS is in office and lower rates when a Republican POTUS is in office.

OPEC does the same with oil raising the price of crude for a Dem POTUS and lowering for a GOP POTUS.

Rates will remain high until Election Day this year. If Biden gets re-elected they will remain high until the 2028 POTUS election.

Dems always get suckered cuz they insist on putting conservative GOP mofos on the Fed, cuz of their stupid bi-partisanship foolishness that always Fucks them over in the end. The GOP never put Democrats in charge of anything when they are in charge.

The same with the FBI Director, Dems always put a conservative director on the job cuz they want to convince the GOP that they are “Tough On Crime”.

It’s all politics and BS.

 

[praetor]

@praetor or @blackbull1970 - how many fed rate cuts or basis points would it take for rates to go down .5 or 1%??? 3% for rates is probably never coming back, but do you think we could see maybe 4.5%??

I'm not sure, but right now things are (recently) going in the wrong direction with retail sales data, CPI, and the 10 year yield. We're definitely not going to see as many rate cuts this year as the market was hoping for.

 

[praetor]

@praetor or @blackbull1970 - how many fed rate cuts or basis points would it take for rates to go down .5 or 1%??? 3% for rates is probably never coming back, but do you think we could see maybe 4.5%??

They must have seen your question. Lol.

 

[DC_Dude]

They must have seen your question. Lol.

So looks like 2025 is when it gets back to 5.5% which isn't bad right esp. compared to where things are now...

 

[Dr. Truth]

“But only around 10%-15% of office buildings nationwide can realistically be transformed to housing…”


If looking at housing purely as a place to live, it makes the most sense to Rent. Especially in areas with high property tax and/or insurance rates.

That makes zero sense, you never pay off a rented house and you leave nothing for your kids . Meanwhile crackas and Asians buying property building wealth and passing it on. Complete non sense to pick renting over owning .

 

[Dr. Truth]

If you've bought a house during the last 2-3 years, you're mostly likely looking at it constantly because there is a very likely chance you overpaid and are now in negative equity. That's never a good feeling especially if you need to sell and can't because you're upside down. I agree over the long term housing will almost always recover but, this is 2008 type stuff in terms or market uncertainty. Realtors all want to bullshit people saying buy now before it's late, but the reality is inventory is up, but prices NEED to come down because an 7.5%mortagage today on a $300K home vs 2.5 a little over a year ago is $900 more a month in principal. That's a 56% higher payment. Shit is just not affordable. Layoffs are starting and that's when foreclosures will pick up. Houses haven't come down that much in price and people's pay hasn't gone up that much either. Market is stagnant as fuck and everybody is waiting on the Feds to drop rates. I doubt it will go down this year as they are predicting and that's good to keep inflation and prices down. Shit we should've done in 2008 and just kicked down the road and now the only parachute low rates will fuck shit up even more if they drop because prices will get over inflated again. There's gonna a lot of pain in the economy. My Q7 got totaled a few months back and I said fuck it I'm not financing another car right now and bought a car cash. Glad I did, that extra $700 a month is useful right now.

Location, in California that is not an issue and never will be an issue. California will always be a destination for people and higher cost of living like most coastal states. Now if you were buying up property in Tabernackle Alabama well.