This one just popped up on Zillow. Been on the market less than a day.
Price will drop substantially when the crash hits, then climb back up during the recovery.
$273,500
3 bd2 ba1,606 sqft
146 Westhampton Dr, Palm Coast, FL 32164
Economist raises alarm over 'inevitable collapse' in US home prices
Discussion in 'Other News' started by Chinatown, Aug 23, 2021.
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The institutions reaped massive benefits, the people got a pittance. Same as it always is.
Ffl had it right, JUST enough to prevent actual rebellion while filling the pockets of banks and investment firms.drvrtech77, misterG, LameMule and 2 others Thank this. -
All asset classes are inflated from the Fed’s pumping essentially free money out to support the government’s unsustainable debt spending.clausland, drvrtech77, misterG and 3 others Thank this. -
Deadwood, drvrtech77 and Rideandrepair Thank this.
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The bubble needs to pop. This market is insane. Around here prices are up 50 - 60 % higher than they were a year ago. Who's foolish enough to buy with these kind of prices?
Dave_in_AZ, drvrtech77, bzinger and 3 others Thank this. -
drvrtech77, bzinger, olddog_newtricks and 1 other person Thank this.
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Last edited: Aug 23, 2021
ZVar Thanks this. -
The existing market has already slowed a bit. New housing has also. Lumber prices are coming down. I seriously doubt a big housing crash, just a minor correction, in most parts. The crazy overheated markets will definately crash, down at least 1/3. Phoenix, San Francisco, Southern Florida, The usual areas. Considering the gains made. A correction might as well be considered dodging a bullet. Won’t be anything close to 2008-2009-2010-2011 losses. Someone with cash in that market, could have gotten very rich. Still can’t believe the prices I saw. 1/3 the previous pumped up appraisals. About 50% real market value. Prices on average homes might go down 20% this time. All depends on how long the correction lasts. If the markets still short on inventory next spring, maybe less than 20%. Not that I know, no one does. If I did know, I’d be rich from 09, instead of being one of the foreclosures back then. I had doubled my money on a previous house in 8 yrs. So it goes.
Last edited: Aug 23, 2021
olddog_newtricks Thanks this. -
Our young neighbors across the street bought 6 years ago with, they claim, no money down. Their mortgage payment has been eating them alive the whole time and have come close to foreclosure several times. $165,000.
They put the house on the market last week, for $269,000. They had 4 offers in 4 days. All above asking price. They accepted a $281,000 offer and will sign papers this week.
She said their net cleared in pocket will be $120,000. I'm happy for them. She said another house on the street also sold last week for $280k.
Both houses are smaller than mine and older than mine. I'm thinking that I might have to see if I could get low $300s for mine with the market this insanely hot.
I lost $50k over what I had paid for a second home in Montana when I sold that one in 2015. Was on the market for 7 years.Last edited: Aug 23, 2021
bzinger and Rideandrepair Thank this.
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