Zillow selling homes below cost.

Discussion in 'Other News' started by Chinatown, Nov 1, 2021.

  1. JoeTruck

    JoeTruck Heavy Load Member

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    2021 sellers market
    2022 buyers market
     
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  3. Rideandrepair

    Rideandrepair Road Train Member

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    The part that’s amazing to Me is the percentages. I forget the exact numbers. But normal foreclosure rates are maybe 1%. The height of the crisis, still was only 3% maybe. But that’s 3x the normal rate, making all the difference. I’m no mathematician by far, but small percentages affect things greatly. Bankers understand this. It’s pretty scary to Me, how such small shifts cause such big problems. Makes Me realize how fragile the economy really is. One blip, and things slow down, layoffs, postponed big ticket item spending, usual cars, then housing. Then everything else supported by those Markets. Hard to see it coming. U of M’s economic report is the official report that declares a recession. Defined as 2 consecutive quarters of negative growth. By the time it’s officially declared, we’ve already been in recession for 6 mos.
     
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  4. Rideandrepair

    Rideandrepair Road Train Member

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    Just brought in the mail. Real estate one just sold a house across the street for $309k. It was listed for $349, then dropped to $289. Bid up to $309. I can’t believe it. Thought for sure the flippers were crazy. I think they paid 180k, totally redid the house. Just an average 1300 sf ranch, w/ attached 2 car garage and basement. My house is normally a bit more than the ranches on the block. I should sell mine, live in the Truck, till the Market drops, sell the Truck too, before prices drop. Might just be the difference between a mediocre retirement and a very good retirement. Very tempting to go for bust. I just can’t believe it. House would normally sell for $220k tops, all fixed up, 2 yrs ago.
     
    Last edited: Nov 6, 2021
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  5. Rideandrepair

    Rideandrepair Road Train Member

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    No expertise here, except what not to do. If I had expertise in housing or any investing, Id be rich. Same with Trucking, I’d have at least 1000 Trucks. All I can say is don’t get too over leveraged ever. When the s### hits the fan, it separates the real Players from those that are just playing.I recall my stepfather saying, I told you it would happen. Yeah, but you’ve been saying it for 25 yrs. Lol.
     
  6. Rideandrepair

    Rideandrepair Road Train Member

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    That’s good to hear.
     
  7. skallagrime

    skallagrime Road Train Member

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    Only thing id buy atm is bitcoin atm
    Not because i think its neccessarily going to go up, though long term that seems a decent bet, but because governments still havent figured it out and regulated it into uselessness.

    Stock market is and always has been a poor indicator of any financial health outside of the upper and investment class. Too out of touch with reality and destroys peoples lives they will never meet and their response is to shrug and say "dont be poor"

    Burn wall street to the ground for all i care
     
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  8. skallagrime

    skallagrime Road Train Member

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    Wisest financial advice ive seen here
     
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