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Economist raises alarm over 'inevitable collapse' in US home prices

Discussion in 'Other News' started by Chinatown, Aug 23, 2021.

Page 2 of 6
  1. Aug 23, 2021 #11
    LameMule

    LameMule Road Train Member

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    You're talking from the governments pov and I'm talking about from the taxpayers pov.
     
    LameMule, Aug 23, 2021
    LameMule, Aug 23, 2021
    #11
    Rideandrepair Thanks this.
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  3. Aug 23, 2021 #12
    ZVar

    ZVar Road Train Member

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    It was never in good faith. It was about buying votes. If it was in good faith, the moratorium would have included deferment of payment of the loan for the property too.
     
    ZVar, Aug 23, 2021
    ZVar, Aug 23, 2021
    #12
    misterG, God prefers Diesels and Rideandrepair Thank this.
  4. Aug 23, 2021 #13
    Chinatown

    Chinatown Road Train Member

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    Yeah, I bought mine the day it went on the market on Zillow. I had been looking and one night as I was searching Zillow and Redfin, the house popped up and I offered the asking price right then and it was accepted. Have to move quickly or investment companies will grab it by offering thousands over the asking price.
    Good plan on your part. I saved some cash and bought a home at the bottom of the last housing crash. Value of the house has gone up 3 times what I paid for it.
    Anyone wanting to purchase a home and has some cash available, be patient, the next crash is coming.
     
    Chinatown, Aug 23, 2021
    Chinatown, Aug 23, 2021
    #13
    Dave_in_AZ, Midwest Trucker, misterG and 5 others Thank this.
  5. Aug 23, 2021 #14
    Last Call

    Last Call Road Train Member

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    It's not gonna be just the housing market...
     
    Last Call, Aug 23, 2021
    Last Call, Aug 23, 2021
    #14
    Studebaker Hawk, clausland, sevenmph and 3 others Thank this.
  7. Aug 23, 2021 #15
    Lucky12

    Lucky12 Medium Load Member

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    FYI - The mortgage debt relief act was extended to 2025 in one of the recent Covid bills, as I understand it.

    This prevents an underwater homeowner who does a short sale or foreclosure from owing capital gains taxes on the forgiven debt.

    We want the underwater homeowners to bail to help burst the bubble.
     
    Lucky12, Aug 23, 2021
    Lucky12, Aug 23, 2021
    #15
    D.Tibbitt, bzinger, LameMule and 1 other person Thank this.
  8. Aug 23, 2021 #16
    Chinatown

    Chinatown Road Train Member

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    Wife and I were like drug addicts when we monitored Zillow and Redfin. Never shut off the computer and then pounced quickly on the one we bought.
    Before that, we had made several offers on other homes and were quickly shut out by investment companies.
     
    Chinatown, Aug 23, 2021
    Chinatown, Aug 23, 2021
    #16
    misterG, bzinger and LameMule Thank this.
  9. Aug 23, 2021 #17
    Mike250rs

    Mike250rs Heavy Load Member

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    Did the same. Paid off debts and have reserves ready to go when the bottom falls out.
     
    Mike250rs, Aug 23, 2021
    Mike250rs, Aug 23, 2021
    #17
    LoneRanger, Midwest Trucker, nredfor88 and 2 others Thank this.
  10. Aug 23, 2021 #18
    Chinatown

    Chinatown Road Train Member

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    That's what we did. Also, started monitoring homes in Florida, Texas, Nevada due to favorable tax laws and no personal income taxes.
    Narrowed that down to Palm Coast, Florida and Clark County, Nevada.
    Henderson/Las Vegas is in Clark County.
    That's like a stressful game, but it can really pay off for people looking for a home purchase.
     
    Last edited: Aug 23, 2021
    Chinatown, Aug 23, 2021
    Chinatown, Aug 23, 2021
    #18
    misterG, Rideandrepair and bzinger Thank this.
  11. Aug 23, 2021 #19
    LameMule

    LameMule Road Train Member

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    If a person plays this housing market correctly they will substantially increase their net worth in a fairly short period of time.
     
    LameMule, Aug 23, 2021
    LameMule, Aug 23, 2021
    #19
    misterG, Rideandrepair, bzinger and 1 other person Thank this.
  12. Aug 23, 2021 #20
    Chinatown

    Chinatown Road Train Member

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    Chinatown, Aug 23, 2021
    Chinatown, Aug 23, 2021
    #20
    Rideandrepair Thanks this.
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