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  #1  
Old 11-28-2020
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Default Anyone planning to make $$ in the inevitable housing crash?

Anyone in here preparing to invest or buy for personal use in the sooner than later Real estate market crash?
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Old 11-29-2020
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Default Re: Anyone planning to make $$ in the inevitable housing crash?

I'm glad I'm not the only one who feels like housing is in a bubble.

In 2008 the housing market crashed because it was too easy to get credit and buy a home you can't afford. Seems like in 2021 it's going to crash because over-speculation has caused prices to soar to 300ish% above normal.

If that's the case, when does the crash occur? When a 2 bedroom home costs $500k and the average family is priced out of the market? What's your opinion on why a crash is inevitable, yankee? I don't have enough understanding of all this but something definitely feels off.
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Old 11-29-2020
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Default Re: Anyone planning to make $$ in the inevitable housing crash?

2-6 months? 12 months?

When does unemployment run out in your state? When does stimulus stop coming in? Are they locking down again driving more businesses out? What does your 30 day and 90 day delinquent increases look like?
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Old 11-29-2020
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Default

we have 3 houses just on my street,2 for lease and one for sale,usually house is for lease when they cant sell it,expect foreclosure soon.
banks are expecting foreclosures very soon !

what looks interesting is NYC real estate,skip the co-op and take a look at duplex,townhouse ,condo,houses.
I think people will move back into the city,Wall Street firms dont want traders to trade from homes ,investment bankers should come to the office and meet with clients,many NEW Yorkers are lifelong city folks,immigrants coming into this country would need a place to live.
back then people buy co-op despite the high monthly maintenance fee because thats all they can afford,with a good paying job,they can afford to pay that ridiculous maintenance fee of $1-3K,now they dont have the job,how can they keep up with mortgage and maintenance fee?
Condos have low maintenance fee but high purchase price,now the prices have come down.so are the houses in the city

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Originally Posted by yankee View Post
I believe NYC re crash was worse than 2008.

A lot of other cities are similar.

What I am mostly interested in is outer suburbs. Areas where blue collar workers jobs are starting to get wipped out and relief cant last forever.
if so,you dont want to sit on empty rentals and keep paying mortgage and property tax.
It happens to someone in my family,he did well with a duplex in Queens,renting to diplomat,so he went to Eastchester and bought a duplex(one upstair and one downstair),he lived downstair and for years,he cant rent the upstair one,worse,it then need repair.)
Those who can afford the upstair unit in the suburb,would prefer to buy a house,he ended up renting rooms in his downstair unit so he can keep making payments for both units.
thats was 2008,people dont have job,all they can afford is a room with kitchen privilege.
See,what works in city does not always work in suburb,diplomats live in city,they entertain from home,they keep the house nicely decorated and their rent is always on time .

When Wall street firms did well,workers who live in suburb often work very late hours and cant find a hotel room to sleep,they will buy a small apt in Manhattan instead,their year end bonus is good enough to pay for that unit.
Recent hired College grad also need a place to live,preferably in Manhattan,for singles there is much more Manhattan has to offer,unless you believe this COV19 trend of working from home will stay,the city is still a good place to invest

Last edited by TGMT²; 11-30-2020 at 02:15 AM.
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Old 11-29-2020
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Default Re: Anyone planning to make $$ in the inevitable housing crash?

I believe NYC re crash has already been worse than 2008.

A lot of other cities are similar.

What I am mostly interested in is outer suburbs. Areas where blue collar workers jobs are starting to get wipped out and relief cant last forever.

Last edited by yankee; 11-29-2020 at 11:12 AM.
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Old 12-23-2020
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Default Re: Anyone planning to make $$ in the inevitable housing crash?

I'm hoping for a crash as well so I can buy a lake front property cash. But with interest rates so low and no sign of it increasing I dont see a crash happening any time soon (at least here in Southern California)
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Old 12-23-2020
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Default Re: Anyone planning to make $$ in the inevitable housing crash?

Quote:
Originally Posted by phaz0rz View Post
I'm glad I'm not the only one who feels like housing is in a bubble.

In 2008 the housing market crashed because it was too easy to get credit and buy a home you can't afford. Seems like in 2021 it's going to crash because over-speculation has caused prices to soar to 300ish% above normal.

If that's the case, when does the crash occur? When a 2 bedroom home costs $500k and the average family is priced out of the market? What's your opinion on why a crash is inevitable, yankee? I don't have enough understanding of all this but something definitely feels off.
My **** 3 bedroom **** shack 1400 sq ft home is valued at 800k - Similiar homes nearby are renting for 3500-4000k a month. Cant imagine this lasts much longer but all these freebie hand outs are keeping things afloat for now....
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Old 01-19-2021
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Default Re: Anyone planning to make $$ in the inevitable housing crash?

People have been buying everything lately

Tons of cheap loan money out there driving house prices higher than they already should be

I think housing like everything else denominated strictly in USD is probably going to get hammered in the next 1-12 months

Do the opposite of what people are doing right now, wait until after the crash to buy.

The question is how do you store your cash until then, with the amount of inflation we're being hit with. Holding USD for 12 months is a guaranteed loss in value, so you'll need something pretty liquid that holds its value like gold or something, that you can quickly exchange for USD at the precise moment to buy real estate.
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  #9  
Old 01-19-2021
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Default Re: Anyone planning to make $$ in the inevitable housing crash?

Until Stimulus ends, rent payments is enforced, evictions begin, and Foreclosures resume...... The RE market will remain propped up. Right now, it is possible a person can not get foreclosed on until March 2022.... So the government keeps kicking the can and making it much worse and if the things they are presenting in the weeks to come pass the senate, the balloon will get much much bigger.
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Old 01-19-2021
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Default Re: Anyone planning to make $$ in the inevitable housing crash?

I don't think it will be a buyers market till at least 2022. Where I am in California there's under 2 percent of all rentals available.
There is talk of extending the eviction moratorium that is supposed to end 1-31-21 till the end of the year.
Meanwhile many people are doing just fine, and houses are getting snatched up right away like back prior to the last market crash.
Its cyclical, and I learned from the last crash to wait it out.
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Old 01-19-2021
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Default Re: Anyone planning to make $$ in the inevitable housing crash?

having a house in the subrub,you would need a car or two cars,then you are looking at multiple monthly payments and insurance,both would need capital improvment,repairs,I am not sure how blue collar workers can afford all .
also immigants arrive in metro areas,they rent apartments.
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Old 08-07-2021
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Default Re: Anyone planning to make $$ in the inevitable housing crash?

I've been tsking advantage of the plethora of opportunities that have arisen

ps: pm me Yankee
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