>jpow talking shit about the housing market

>jpow talking shit about the housing market

  1. 2 weeks ago
    Anonymous

    I almost fell for the FOMO and bought a house last month. Now I'm just gonna buy land, save, and pay cash for a new build. Nothing fancy, but I'll have my home and no debt and most importantly won't have paid hundreds of thousands in interest to the banks.

    • 2 weeks ago
      Anonymous

      CRASH CRASH CRASH!

    • 2 weeks ago
      Anonymous

      If you'll have money to buy cash this is fine. If you're waiting on a mortgage though you're actually worse off with low home costs but high interest rates.

      • 2 weeks ago
        Anonymous

        lol no you aren't, you can refinance but you can never re-buy

        • 2 weeks ago
          Anonymous

          >Buy a home at 300k at 2% interest rate
          >Payments $1122 a month
          >Wait for a "crash" and buy the same home for 250k at 6%
          >Monthly payments $1395
          At current rates you'd need the price to drop all the way to 201k but the average drop in 2008 was about 18%.
          So the best your looking at is going from 300k to 246k. And that's if the rates don't go higher.
          Spoilers: they will

          • 2 weeks ago
            Anonymous

            >Monthly payments 1395 at 6%
            >wait a few years
            >refinance at 2%
            >profit

            • 2 weeks ago
              Anonymous

              >Wait a year
              >Rates are at 8%
              >Inflation is still 5%
              >Jpow announces a 100pt increase
              >Rates now 10%
              You're really fucking braindead if you think we're ever going back to 2% mortgages or anything close to it.

              • 2 weeks ago
                Anonymous

                Yes but home prices won't be double in two years.

              • 2 weeks ago
                Anonymous

                At 10% that 300k house would need to drop over 50% in value to have the same monthly payment as it would have at 2%. Are rent cucks really this retarded? You're only smart if you've got cash ready to go to buy without a mortgage. Otherwise you're getting fucked by the mortgage rates and raising rents.

              • 2 weeks ago
                Anonymous

                see, the trick is to not be in debt.
                >mfw in debt

              • 2 weeks ago
                Anonymous

                Correct. Short term debt is a death sentence for the borrower. Guess who the largest short term debtor is in the world?

              • 2 weeks ago
                Anonymous

                who?

              • 2 weeks ago
                Anonymous

                >The United States is currently the world's largest debtor nation with a net negative international investment position of around $14 trillion.

              • 2 weeks ago
                Anonymous

                >its over
                yet
                >it has only just begun

              • 2 weeks ago
                Anonymous

                If rates continue to rise housing prices continue to fall. Your argument seems circular. If your scenario of decade long 8% mortgages comes to pass it will also mean a decade of housing declines, in which case you may as well just wait anyway.

                Love these threads. Always the same bickering like old women.

                That's how you know we're getting a big move soon. There hasn't been this much fear in a very long time, people are getting emotional.

              • 2 weeks ago
                Anonymous

                If rates are 10% in the future, then it would be better to get a 6% mortgage while it lasts, genius.

            • 2 weeks ago
              Anonymous

              >Wait a year
              >Rates are at 8%
              >Inflation is still 5%
              >Jpow announces a 100pt increase
              >Rates now 10%
              You're really fucking braindead if you think we're ever going back to 2% mortgages or anything close to it.

              >parents bragging in at their locked in 2% rate.

          • 2 weeks ago
            Anonymous

            It’s already down 20% in my socal area. It’s just getting started, price are gonna crash hard. ITS CALLED AFFORDABILITY.

            • 2 weeks ago
              Anonymous

              >Living in California
              No thanks

            • 2 weeks ago
              Anonymous

              You must be in Corona or Riverside. Nobody wants those shitty properties surrounded by meth dealers

              • 2 weeks ago
                Anonymous

                Central San Diego.

              • 2 weeks ago
                Anonymous

                So Mexican meth dealers?

          • 2 weeks ago
            Anonymous

            And if you think rates are ever coming down again you're wrong. The historic average is 8%. We've got 2 more points to raise before we're back to normal. You just got used to free money post 2008.

            >prices only go up
            >rates only go up
            lol why are house naggers so retarded?

        • 2 weeks ago
          Anonymous

          And if you think rates are ever coming down again you're wrong. The historic average is 8%. We've got 2 more points to raise before we're back to normal. You just got used to free money post 2008.

      • 2 weeks ago
        Anonymous

        >> tell me you're a brainlet without telling me you're a brainlet.

  2. 2 weeks ago
    Anonymous

    how could anyone want to BUY right now lol, literally the worst time in history

    • 2 weeks ago
      Anonymous

      I have just made an offer on a house but 22% underasking cuz why the fuck not?

      If they say no? Then cool I'll wait for the dark winter. But I sure as shit need to sell my house to roll profits into new home. I.e 120k down payment. I like my payments low you naggers

      • 2 weeks ago
        Anonymous

        22% is not low enough, think 30 or 40% and make him get you seller financing/vtb

        • 2 weeks ago
          Anonymous

          True honestly, they guy is gonna decline cuz people are still on the 2021 euphoric high prices still.

          I should probably try 30% minimum, house i current 525k but just a literal year ago market value was 345k. Yeah I live in a desirable area but none can fucking afford these prices at these 6 to 7% mortgage rates.

          My parents just sold their house on the tale end and made 500k profit, they are saving it for retirement and buying back in this upcoming spring.

          • 2 weeks ago
            Anonymous

            >My parents just sold their house on the tale end and made 500k profit, they are saving it for retirement and buying back in this upcoming spring.
            If the are buying with cash they will do well. But if they are pulling a loan out to buy. They are fucked. who knows how high rates will go.

            • 2 weeks ago
              Anonymous

              Rates will not get too much higher before they cause a credit crisis and have to back off, but i expect 5-8% for a while.

              • 2 weeks ago
                Anonymous

                Credit crisis doesn't matter if inflation is the alternative. Until we return to 2% annual inflation free money is over.

              • 2 weeks ago
                Anonymous

                >Credit crisis doesn't matter

                Yes it does you imbecile

              • 2 weeks ago
                Anonymous

                Ok, unlimited free credit but you couldn't possibly borrow enough money to do anything because inflation didn't go down.
                Are you actually retarded?

              • 2 weeks ago
                Anonymous

                8% isn’t even a big deal. It only seems like a big deal because of how inflated prices are... because interest rates we’re so low for so long

            • 2 weeks ago
              Anonymous

              >who knows how high rates will go
              If the rates go much higher than 8% we'll have bigger problems to worry about than mortgages.

              • 2 weeks ago
                Anonymous

                I kinda what rates to go higher than 8%. There are people I won't mine hunting down in the made max world +8% rates would create.

      • 2 weeks ago
        Anonymous

        I'd still only buy if the seller carried it at <2%, 22% off or not.

      • 2 weeks ago
        Anonymous

        True honestly, they guy is gonna decline cuz people are still on the 2021 euphoric high prices still.

        I should probably try 30% minimum, house i current 525k but just a literal year ago market value was 345k. Yeah I live in a desirable area but none can fucking afford these prices at these 6 to 7% mortgage rates.

        My parents just sold their house on the tale end and made 500k profit, they are saving it for retirement and buying back in this upcoming spring.

        That’s a pretty accurate observation. The average real estate holder has seen nothing but non stop unprecedented gains for the last what, 10 years? Good luck breaking that conditioning.

        • 2 weeks ago
          Anonymous

          >Good luck breaking that conditioning.
          Well these people are usually your text book example of what the wealth effect dose. They all think they're fanatical geniuses by simply holding a house without understanding forces at play or even the math. They're the same people that measure their value in nominal terms vs real. They're the people that look at the monthly payment and not what they actually end up paying after 30 years.

    • 2 weeks ago
      Anonymous

      buddy is being moved to another city at a higher cost of living because his wife hated her job and refused to take a job at a lower salary

      • 2 weeks ago
        Anonymous

        kek what a cuck (for living in the city, any city)

    • 2 weeks ago
      Anonymous

      >how could anyone want to BUY right now lol, literally the worst time in history
      good time to buy if you can get a good deal

    • 2 weeks ago
      Anonymous

      Not as bad as it was earlier this year. Or anytime over the past two years, WHEN EVERYONE WAS BUYING. I’m a scumbag worthless realtor, and for the past two years I’ve told every first time home buyer to wait, I’m calling them all now and telling them to get ready, we bout to get a deal. My buddy needed a place (family, write offs, couldn’t wait any longer), locked him down a place 50k under asking, seller paid closing costs. 250k lower than it would have sold for at the peak. SoCal.

  3. 2 weeks ago
    Anonymous

    kek glad i bought in 2018 and even that was slightly overpriced

  4. 2 weeks ago
    Anonymous

    someone had to, no your shack on the outskirts of town was not worth 400k

    • 2 weeks ago
      Anonymous

      Blows my mind that even in the middle of nowhere everybody is trying to sell their houses for mid-200ks. No, your fucking mobile home that you got for 500 dollars in 1974 has not appreciated 500000% in value just because you put it on a couple of cinder blocks and call it a foundation.

  5. 2 weeks ago
    Anonymous

    NOOOOOOOO NOT MY ZESTIMATE

  6. 2 weeks ago
    Anonymous

    JPow sounded half conflicted about that. He knows that housing has inflated but he isn't even putting the idea of selling MBS on the table? Maybe I read him wrong but it sounds like Housing is freaking him out a bit.

    • 2 weeks ago
      Anonymous

      >sounds like Housing is freaking him out a bit
      They have been talking about housing and rent.
      On a side note with the number of repo cars on the rise. How is that going to affect rent. Are renters going to stop paying just like they stopped paying down their 2023 f350 super duty diesel 4x4?

      • 2 weeks ago
        Anonymous

        My own retard thinking has led me to believe that people will shed literally anything they need to in order to meet rent of any kind, whether a mortgage or an apartment.
        People not paying isn't an option which is why I think that's what's freaking JPow out. Too much of banking uses it as collateral, not to mention the monumental amou of MBS the Fed is holding. If they screw up housing they won't be able to bail it out again, so it's possible they think killing jobs will create a "softer" downturn.

    • 2 weeks ago
      Anonymous

      they litterally cant sell the mbs. they only bought the ones with high default chance so anyone who buys them is basically garunteed to lose money.

    • 2 weeks ago
      Anonymous

      home owner vote more than normy. you do NOT want to piss them off. Never selling MBS ! pic related is housing for future generation

  7. 2 weeks ago
    Anonymous

    >trad stacy even existing
    >trad stacy caring about a zestimate and not trad stacy career and big city rent

    anon I...

  8. 2 weeks ago
    Anonymous

    Oh no! Housing prices are as low as... *checks chart* last year! You realize in a year it will be back to where it was a few months ago and in 2 years they will be at all time highs again, right rentoids?

    • 2 weeks ago
      Anonymous

      Bold of you to assume prices will go back up in the near term (<5 years) when we have the highest inflation in 40 years.

      • 2 weeks ago
        Anonymous

        >Population increases
        >Inflation too high to build new homes
        >Existing homes are your only option
        >Sellers realize the demand is still high despite high rates because people need to live somewhere
        You're kind of fucked if you didn't get a house cheap with low rates. You're either looking at a cheaper home with insanely high interest rates that make your payments higher or sitting in rent getting a 10% cost increase every year. No winning moves other than buying pure cash.

        • 2 weeks ago
          Anonymous

          > You're kind of fucked if you didn't get a house cheap with low rates.
          You're also fucked if your house depreciates by 30% because you bought at the top and can never sell without a six-figure loss. Who knew that cheap debt artificially drives prices up?

          • 2 weeks ago
            Anonymous

            But in 10 years everything will be fine

          • 2 weeks ago
            Anonymous

            >Selling your home
            Why the fuck would I sell my home? It's where I live. Are you some dumb boomer that buys homes with the intention of flipping it a few years later? I don't give a single fuck what my home is worth to the ~~*bank*~~. As long as it's a place I can live in that I know will never go up in costs it's doing the job.
            Things a rent cuck will never understand.

        • 2 weeks ago
          Anonymous

          do like pic related

  9. 2 weeks ago
    Anonymous

    Gc coin?

  10. 2 weeks ago
    Anonymous

    i rate this thread 8/10 for OP and 2/10 for replies

  11. 2 weeks ago
    Anonymous

    you retards cant stop it from happening, its gonna happen. All retail is fleeing, and you dumb baggies keep buying in

    • 2 weeks ago
      Anonymous

      >and you dumb baggies keep buying in
      THAT IS THEIR PURPOSE
      THEY ARE PREDESTINED FOR BAGGY, THERE IS NO ESCAPE FROM UNTHINKING ACTION

  12. 2 weeks ago
    Anonymous

    Love these threads. Always the same bickering like old women.

  13. 2 weeks ago
    Anonymous

    >But muh fixed rate mortgage
    >Average household credit card debt is around $8000 now
    >Average car loan payment is $700
    Yeah, average renters and home owners are going to have a ball.

  14. 2 weeks ago
    Anonymous

    >Russia starts invading Ukraine
    >starts searching for houses in amazing locations so that i can buy the land from dead Ukraine expecting the invasion would take max 4 days
    >been almost a year and russians are now losing
    >china will invade Taiwan
    >search for properties that will probably be destroyed when war starts again

  15. 2 weeks ago
    Anonymous

    kind of crazy that 95%+ of the usa is on credit

    these interest rises do not affect us as much the cash bros

    credit is the reason why someone with 100k+ a year salary can become broke

  16. 2 weeks ago
    Anonymous

    is it weird that I keep getting JPOW and JLAW mixed up in my head? At first I thought "why would jennifer lawrence have any sway about housing"?

    • 2 weeks ago
      Anonymous

      Your beef curtains will look like JLaws when JPow is done with you

  17. 2 weeks ago
    Anonymous

    jpow, such a catchy character name for our scripted reality. that's good writing

  18. 2 weeks ago
    Anonymous

    we will NOT sell MBS.pic related is future standard house for american

  19. 2 weeks ago
    Anonymous

    Prices will plummet

    T. Guy who bought after the last crash

  20. 2 weeks ago
    Anonymous

    living on a lonely hill far away from everyone is still a good life plan, it's because of these things that one ends up selling something illegal or investing in memecoins like vinu

  21. 2 weeks ago
    Anonymous

    Housing speculators get the rope

  22. 2 weeks ago
    Anonymous

Your email address will not be published.