I'm calling it.

Peter Gozintite said:
Any Changes? Things are grinding along, but it feels like something has got to give.
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It’s fucking rough out there. Working harder for fewer loans and most of the loans that are out there right now are hot garbage. Nearly everything is FHA or DPA (downpayment assistance loans).
 
williewilliejuan said:
It’s fucking rough out there. Working harder for fewer loans and most of the loans that are out there right now are hot garbage. Nearly everything is FHA or DPA (downpayment assistance loans).
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Yep closing some over 7 rates as of late with FHA & DPA. Lenders are talking about refinancing in 12 to 18 months. Guess we shall see. Believe buyer of my property is getting DPA so just waiting for that to get through & finally have it sold.
 
williewilliejuan said:
It’s fucking rough out there. Working harder for fewer loans and most of the loans that are out there right now are hot garbage. Nearly everything is FHA or DPA (downpayment assistance loans).
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Just took a commercial property management job. They are flexible, and are OK with me doing some business on the side, as long as the job is getting done.
 
Peter Gozintite said:
Just took a commercial property management job. They are flexible, and are OK with me doing some business on the side, as long as the job is getting done.
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:airquotes: business on the side :airquotes:

the sopranos smoking GIF
 
Peter Gozintite said:
Just took a commercial property management job. They are flexible, and are OK with me doing some business on the side, as long as the job is getting done.
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Nice. It’s good to have a steady gig because we are at least six months out from the market changing for the better.
 
Catlanta33 said:
A huge difference from the last market crash is how out-of-control rents are now. Before you had a good chance at renting an apartment on the cheap if you went into foreclosure. That's no longer an option. That along with being in a perpetual housing shortage nationwide seems to indicate we may be in for some really bad times.
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Peter Gozintite said:
howdy stranger
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It’s not really a crash as it’s everyone sitting on 4% or better fixed mortgages and people aren‘t selling so inventory is super low. What comes up for sell goes quickly around here usually with multiple offers.

Commercial projects have slowed way down because of material prices and rates but let both of those come down a bit and triggers will start pulling.

The desire is there we just need inflation to stop going up.
 
Wild Turkey said:
It’s not really a crash as it’s everyone sitting on 4% or better fixed mortgages and people aren‘t selling so inventory is super low. What comes up for sell goes quickly around here usually with multiple offers.

Commercial projects have slowed way down because of material prices and rates but let both of those come down a bit and triggers will start pulling.

The desire is there we just need inflation to stop going up.
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Blah blah blah
 
HammerDown said:
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Mortgage interest rates are between 7.5% and 8% so people are hanging on to their houses and the new rates are pricing people out of what they want. This is creating pent-up demand so if the rates drop to around 5.5% or 6% you will see people jumping in. I saw where the difference in a 400K mortgage with today's rates equates to 1K in monthly payments from 2 years ago.

What we are seeing isn't a bubble but a delay due to rates people still have money in their pockets and there is a shortage of housing.
 
Wild Turkey said:
Mortgage interest rates are between 7.5% and 8% so people are hanging on to their houses and the new rates are pricing people out of what they want. This is creating pent-up demand so if the rates drop to around 5.5% or 6% you will see people jumping in. I saw where the difference in a 400K mortgage with today's rates equates to 1K in monthly payments from 2 years ago.

What we are seeing isn't a bubble but a delay due to rates people still have money in their pockets and there is a shortage of housing.
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This is it exactly. Everyone is sitting on rates in the 3s, and currently rates are closer to 8%. People who in more normalized markets would be move up or move down buyers are sticking with what they have because the costs will be too high on the new purchase. That means no inventory.
 
HammerDown said:
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I want a fucking Tshirt.


If, by some chance, I don’t get one, I will genuinely look back on my life with regret. (For there will be much wasted time that I could’ve gritted my teeth and masturbated more)


Like we already do on account of Marty not being in the HOF.


Go Lions.

As-salam alaikum.
 
moxie said:
Wait…”multifamily”. What does that mean? Like duplexes & stuff? Wouldn’t that mostly be non-owner occupied?
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That’s Freddie Mac data. For them “multi-family” means more than four units.
 
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