I'm calling it.

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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Will Smith Reaction GIF
 
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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This right here. I’ve been in the rental market for 6-8 weeks. We just could not find the size we needed (5+ bedroom) that wasn’t prohibitively priced. Had to offer a monthly kick to the two older kids to get their own place and look smaller.

After so much work to find the best deal we are going from a 5/3 to a 3/2 for $400 a month MORE.

We can manage it….but there is an extreme issue with the rental market now, and I don’t see it cooling soon, not even from a housing slow down and bubble burst.
 
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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This is a great point. Finding decent apartments and or any stand-alone rental is almost impossible here right now so there is definitely a housing shortage. This market is just plain ass weird and unpredictable.
 
I’ll say this much….I make sure not to put much salt into the narrative driving from media or anyone who’s livelihood is dictated by belief that things are good. They never tell us it’s bad until we are well into the bad

We have tipped into the shit recently. I’m hopeful it’s not as bad as 08, but even so 08 didn’t have some many ingredients in the shit stew. Perhaps we can weather through most of it but the severe supply issues and inflation are not an easy fix.

Worst fear is we weather any downturn but end up with stagflation.
 
In Huntsville, AL right now there are 2,000 registered agents and only 200 properties on the market. An agent will commit murder to get a listing.
 
Orlando_Eagles said:
This right here. I’ve been in the rental market for 6-8 weeks. We just could not find the size we needed (5+ bedroom) that wasn’t prohibitively priced. Had to offer a monthly kick to the two older kids to get their own place and look smaller.

After so much work to find the best deal we are going from a 5/3 to a 3/2 for $400 a month MORE.

We can manage it….but there is an extreme issue with the rental market now, and I don’t see it cooling soon, not even from a housing slow down and bubble burst.
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Why go from 5/3 then? Just curious
 
Orlando_Eagles said:
This right here. I’ve been in the rental market for 6-8 weeks. We just could not find the size we needed (5+ bedroom) that wasn’t prohibitively priced. Had to offer a monthly kick to the two older kids to get their own place and look smaller.

After so much work to find the best deal we are going from a 5/3 to a 3/2 for $400 a month MORE.

We can manage it….but there is an extreme issue with the rental market now, and I don’t see it cooling soon, not even from a housing slow down and bubble burst.
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Are you renting from a home owner or company? Another thing that has been happening is private equity firms are buying up homes all over. They're going to jack up their rents, too.

One of the gals in our circle rents in our subdivision. They're raising her rent 1k so she's looking now.

Just hired a guy in Southern Cali, his apartment rent is going up 1k. He said he can't even find another place because they are going so fast.

And, a lot of this is Chinese money. They're not investing here to create affordable housing.
 
Orlando_Eagles said:
I’ll say this much….I make sure not to put much salt into the narrative driving from media or anyone who’s livelihood is dictated by belief that things are good. They never tell us it’s bad until we are well into the bad

We have tipped into the shit recently. I’m hopeful it’s not as bad as 08, but even so 08 didn’t have some many ingredients in the shit stew. Perhaps we can weather through most of it but the severe supply issues and inflation are not an easy fix.

Worst fear is we weather any downturn but end up with stagflation.
Click to expand...
2008 was all about the inability to borrow.

2022 is all about the supply chain.

The X-Factor is we still have low employment. People literally have money to spend but can't get what they want but that might end when groceries go up 100% like they are predicting. At that point, the shit is the stew for a whole lot of families.
 
I'm still mulling over throwing some money into this company. There are some others that have solid operations going. Elon Musk lives in one of these on his property in Austin. Great idea and may save us with however this housing crisis plays out.

Boxable Homes - Boxabl Homes
 
Wild Turkey said:
Of course, all of this is going to vary from market to market. A lot of places in the south are red hot because all the people from New York and New Jersey are moving here, selling their houses for about 750K and buying 450K down here and not shy to go to 550K because they have the cash.
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Them's the poors! Anybody selling in NY for only $750K is selling a crappy house. Maybe in parts of NJ that's a more comparable price, I don't know...
 
I live in a very cheap market, so far. Anybody working full time, min wage job can get a mortgage for a low-medium house. But that is about to change. Job growth in the county for the coming 18 months is estimated at +15%. Lots of new money hitting the market.
 
Wild Turkey said:
2008 was all about the inability to borrow.

2022 is all about the supply chain.

The X-Factor is we still have low employment. People literally have money to spend but can't get what they want but that might end when groceries go up 100% like they are predicting. At that point, the shit is the stew for a whole lot of families.
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2008 was not about inability to borrow. stop it.
 
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