What direction is the USA housing market going

I was a real estate broker in California years ago and seen rates from 5 to 17% .
Higher interest rates actually stabilizes the inflation movement of the housing market.
I thinkyou will be seeing 11% interest rates soon.

a reply to: musicismagic

If you live in a Red state your property value has been skyrocketing like mad as the Blue states empty to escape the woke lunacy you have witnessed us discussing on these threads.

I live in a Red state. Rents are rising to unimaginable heights as the local kids can't buy a house or rent an apartment on their salaries now. So, people are buying houses with cash from the Blue states and the Red state locals are moving out from the city to escape the expensive lifestyle.

originally posted by: musicismagic
I was a real estate broker in California years ago and seen rates from 5 to 17% .
Higher interest rates actually stabilizes the inflation movement of the housing market.
I think

you will be seeing 11% interest rates soon.

Seeing some weird stuff, Builders trying to sell shells of houses (still overpriced)
But it is showing they are getting concerned too.

a reply to: Justoneman

Don't know about that.

I live in California, bluest of the blue states.

I bought my home in 2012.

30yr fixed at 3.75%.

Property tax is $1800 per year, per last tax bill (paid as part of my mortgage each month).


House is valued at 4 times what I paid for it.

a reply to: Mantiss2021

What does this have to do with what justoneman said here?

a reply to: Alien Abduct

He claimed that Red state property values were "skyrocketing" due to Blue states "emptying".

But, if blue states, like my state, were "emptying", that would result in a glut of available houses, and the property values would be dropping...

Not rising 300 - 400% over the last ten years, as my home has.


Greater supply should equal less demand, and therefore less value, not more.

a reply to: musicismagic

Well, you see that big sink hole over yonder? I think you know the rest.

It's going south if your north and north if you're south, down a #ing big hole. Same in britain. Not so much in Europe as they are not generally so greedy with real estate as britain and America. Those Arabic man made islands are marked for destruction too. Only takes a little tsunami to wipe all that crap away in five minutes and we know the environment is starting to act like an angry monster and we are its target.

The greed is coming to an end in real estate. Warehouses, offices, shops, there is far too much of all that now that offices are not so needed and the High Street (physical shopping malls) are becoming obsolete.

The good news is that it is all happening for a reason and eventually we will have rid the economy of a lot of zombie behaviour. Sitting on a fat ass pile of real estate just makes the economy a fat pig that don't move and does nothing for industry and commerce. The dudes at the top know this and they are shooting the zombies in the head and changing stuff. Bitcoin just stuffs it in a greedy treasure chest hoping that Magic Mike will turn it into more. Yeah, right!

I am really glad about all this. It is good news to me and all rejected people who your economy has killed. Now if Putin would drop a big bomb on London he would be doing the world a big favour. Aim it right on top of the Daily Mail offices.

We don't care about you and your plight. We want you greedy uncaring lot to experience some pain like your greed did to us, making us homeless and destitute, destroying our lives.

Sniff the air. There is the smell of revolution in the air. Not the usual kind that boring imaginations think of when you mention the word, but another kind that can't be stopped because what is powering it is forty years of greed and neglect. It is a creeping monster taht even Mr Rothschild can't stop. I don't think he wants to stop it either and neither do I.

Y'all might want to turn to drugs and alcohol about right now like you made us do with all the pain of neglect you put upon us. Why should we care?

Do not expect mercy or compassion. This is JUDGEMENT DAY for the Western economies and whoever else sucked up to them. I am loving it and laughing at your coming downfall because you treated me so bad and did not care. "I feel so high, I even touch the sky, above the pouring rain". Yes I! I love righteousness and greedy people animals getting what's coming to them. I love fairness and egalitarian care for everyone. Karma is my girlfreind and Mashhit my best friend. I respect them both and that is why nada bad # is happening for me right now because I didn't do anything wrong. YOU DID! Pay up, dudes.

California here.

I expect to be able to buy a bigger house in 2 years for less than I paid for my 1700 sq. ft. house at the drop of the market in 2008 or 2009.
Yes interest on mortgage will be higher.
I have an ace in the hole in regards to that.

originally posted by: randomtangentsrme
California here.

I expect to be able to buy a bigger house in 2 years for less than I paid for my 1700 sq. ft. house at the drop of the market in 2008 or 2009.
Yes interest on mortgage will be higher.
I have an ace in the hole in regards to that.

That is if flood and fire don't get it first. You are in la la land, dude.

a reply to: Mantiss2021

Florida property taxes are criminal (Alachua county), close to $12k for two rentals I own.
I can do it ,but only because I live well within my means.

The criminals in charge will just keep raising the taxes , as they get to pay themselves with it AND(bonus!) steal property for unpaid taxes. Shocking .

originally posted by: Mantiss2021
a reply to: Justoneman

Don't know about that.

I live in California, bluest of the blue states.

I bought my home in 2012.

30yr fixed at 3.75%.

Property tax is $1800 per year, per last tax bill (paid as part of my mortgage each month).


House is valued at 4 times what I paid for it.

He knows more about where you live than you do.

You're in California. Arguing anything is hopeless.

originally posted by: Mantiss2021
a reply to: Alien Abduct

He claimed that Red state property values were "skyrocketing" due to Blue states "emptying".

But, if blue states, like my state, were "emptying", that would result in a glut of available houses, and the property values would be dropping...

Not rising 300 - 400% over the last ten years, as my home has.


Greater supply should equal less demand, and therefore less value, not more.

It sounded well because blue = bad and red = good here

a reply to: musicismagic

Sorry, but I am an angry person because I have seen so much greed and neglect. Here is an article from the Telegraph snoozevapour this am:

]www.telegraph.co.uk...

That means we could start to see the effects of rising rates on house prices soon, said Ms Dickens. “We think it’s plausible that we will start to see strong evidence of house price falls in October.” But this will not yet reflect the recent impact of the mortgage market disruption in the wake of the mini-Budget. “That likely won’t feed through until December or January,” she added. House price indexes based on mortgage approvals – namely those of lenders Halifax and Nationwide – offer a more immediate picture. In September, Nationwide reported that monthly growth was flat, while Halifax recorded a 0.1pc drop. These reports suggest month-on-month falls are likely in October.

I was being a bit emotionally hyperbolic, but I HATE it that there are so many homeless people and that the status quo is to treat a house as a business and not a home.

Houses are shelters and houses are homes. We will be taught this lesson by hook or by crook. What will it take to stop human greed and destruction? Perhaps the only way is destruction of humans themselves.

Seriously, watch out. This is not just a crash. It is a change for good. We can't ever go back to the old way as it was killing everything. There are so many variables now. You know, to build a new house or renovate an old one means raw materials. The West is losing access to those and having to pay ever increasing dollar for what is available. Floods and fires, wars and social upheavel are causing big supply problems now. These will not go away as the strains of depleting resources gets ever worse. Environmental catastrophes are happening all the time now. Australia today is flooded in three whole states. It will be followed by severe drought and fires. There is a pattern emerging in vulnerable places. California is very vulnerable. It is going to be flash floods and fires for a long time possibly. What can we do about that? We caused it. It might take thousands of years for the environment to balance out again. We could be in for a thousand years of misery.

We are going to be taught a big lesson. If we will change our fate will change. If we expect the same as before we will only get various kinds of death and destruction. The old behaviours are being forbidden us because they destroy everything and turn people into greedy uncaring financial zombie monsters.

Soon it may cost you thousands just to replace a front door. I hope you understand the gravity of this situation and wake up a bit. You have been greeedy zombies far too long and made so many your victims. They outnumber you a hundred to one and much more I suspect. Now who is the minority being clubbed and battered by privilege, BY YOUR OWN PRIVILEGE!

originally posted by: Justoneman
a reply to: musicismagic

If you live in a Red state your property value has been skyrocketing like mad as the Blue states empty to escape the woke lunacy you have witnessed us discussing on these threads.

I live in a Red state. Rents are rising to unimaginable heights as the local kids can't buy a house or rent an apartment on their salaries now. So, people are buying houses with cash from the Blue states and the Red state locals are moving out from the city to escape the expensive lifestyle.

No, I live in a blue state unfortunately and our houses are heading towards, or over, one million for a ridiculously small box, and in the flood zone no less.
Plus we are flooded and swarmed with illegals, who are getting all the housing, leaving us Americans with no choice but to move on.
Which is fine with me, the inflation here is soaring every week.
Used to be lovely and dependable here, those days are gone.

Another big bubble burst.
@2nd line .

a reply to: Tarantula777

You are so right, owners are treating their houses as big business and nothing less -
We went to look at an apartment last night, 4 roooms, no closets, turned out to be an extremely bad area, on the third floor, no heating, just a space heater which I didn't even know were legal - all for the bargain price of $2,000.
We laughed and left, anyone who is going to pay $2,000 a month for that must be desperate.
I bet you guys have not seen anything like this in your areas?

I can only speak for where I live, and California is where a lot them are coming from to live near me. That is all I can say. The houses in the Red states are skyrocketing to quadruple their value in 10 years. It has made it hard on local families to move from their home if they are renting to own their own. Getting real hard to find rental apartments and the cost is too high for anyone making less than $30K a year.

originally posted by: Mantiss2021
a reply to: Justoneman

Don't know about that.

I live in California, bluest of the blue states.

I bought my home in 2012.

30yr fixed at 3.75%.

Property tax is $1800 per year, per last tax bill (paid as part of my mortgage each month).


House is valued at 4 times what I paid for it.

originally posted by: Thrumbo

originally posted by: Mantiss2021
a reply to: Alien Abduct

He claimed that Red state property values were "skyrocketing" due to Blue states "emptying".

But, if blue states, like my state, were "emptying", that would result in a glut of available houses, and the property values would be dropping...

Not rising 300 - 400% over the last ten years, as my home has.


Greater supply should equal less demand, and therefore less value, not more.

It sounded well because blue = bad and red = good here

I simplified it for the idiots on both sides of the aisle. I am an Indie just calling balls and strikes on what I see here. They are leaving Cali according to the statistics and moving to RED states. It is that simple. You both can deal with it more maturely even if you are from Cali.

originally posted by: RonnieJersey
a reply to: Tarantula777

You are so right, owners are treating their houses as big business and nothing less -
We went to look at an apartment last night, 4 roooms, no closets, turned out to be an extremely bad area, on the third floor, no heating, just a space heater which I didn't even know were legal - all for the bargain price of $2,000.
We laughed and left, anyone who is going to pay $2,000 a month for that must be desperate.
I bet you guys have not seen anything like this in your areas?

My dad lives in Nashville and my Kid wants to move there. The prices are very close to being NY City prices in Nashville today. $5K a month one room efficiency with three "sleeping areas" was one advertisement there in TN. I kid you not.

ETA

That was the most obnoxious for the money. But the whole area is very high to rent less than 1000ft2.

Central alaska is torn between people holding on to houses they dont live in anymore (waiting on that army unit to get moved in) and just trying to offload it.

But new houses are not being finished and people are trying to sell it as is.

Average normal livable house and mortgage is still way overpriced for what you are getting.