US house prices above $400,000 for the first time

[r32gojirra]

Lol I was wondering about that too

I’m guessing since he’s a cop, the other cops won’t enforce any parking or vagrancy violations against him

[coast2coastam]

How did it make it over those big ass rocks bruh

How did the truck that pulled his trailer in get out of there




Fuk this chit I hate that movie now

haha it's been so long since I've seen that movie. All good questions.

I’m guessing since he’s a cop, the other cops won’t enforce any parking or vagrancy violations against him

Interesting theory.

[rectifryer]

price cuts already happening in my area

supply is up 30% yoy

100%+ in metro areas


yeah we were right

theres no amount of leading indicators that will convince people like op. they have too much skin in the game.

[blazenbb]

How did it make it over those big ass rocks bruh

How did the truck that pulled his trailer in get out of there




Fuk this chit I hate that movie now

Chopper dropped it

[r32gojirra]

price cuts already happening in my area

supply is up 30% yoy

100%+ in metro areas


yeah we were right

theres no amount of leading indicators that will convince people like op. they have too much skin in the game.

I guarantee you I have absolutely zero exposure to the US housing market

Lmao at rentcel cope

[rectifryer]

I guarantee you I have absolutely zero exposure to the US housing market

Lmao at rentcel cope

well chit is imploding here

listings are going up about 2% a day.

[dopamine72]

Lmao at poverty home prices. In Ontario our average selling price is 940k currently.

You wanna do a pissing contest eh?

Check the average price of homes in Alamo California, which doesn't get 20 ft of snow and we can have guns

[r32gojirra]

well chit is imploding here

listings are going up about 2% a day.

With labour shortages the way they are there is no external stimulus to cause people to take a loss on selling their house

And no, usual interest rate increases are not enough to burst the bubble

[jakobi]

$400k for a house? damn cheap

you cant even buy a condo for $400k in Vancouver...

[shreddedloser]

**** is imploding everywhere in the world right now. Propertycels who bought in the past 2 years on suicide watch

[BigDeeps01]

It’s over for rentcels

[shreddedloser]

It’s over for rentcels

Based on what?

[shreddedloser]

OP's reason for creating this tread is to seek positive reinforcement. He knows its over

[rectifryer]

With labour shortages the way they are there is no external stimulus to cause people to take a loss on selling their house

And no, usual interest rate increases are not enough to burst the bubble

lmao

[FlexLex]

What youre going to see is people selling and buying houses at asking price, with some leverage for inspections and negotiation. This idea of a fire sale on housing is a crock pot full of ****. Not gonna happen. People still need places to live and real estate still remains a relatively safe and appreciating investment asset.

In fact the demand on housing likely will continue to increase, especially in cities, as more and more young people move to these areas and do not own homes. Most homes are owned by those 55+. So either yung people will inherit as these geezers die, and, in the meantime, will continue to buy property vs renting if they can

Look at the things that are elevated in price and have remained high: food, gas, housing--why? Because they are essentials. You dont need Apple stock to live, but you need housing, so theres less ability to have a sell off of an investment that you also actually require for survival; just like beef prices arent gonna tumble either

[LethalGunz34]

And people out there are still buying. I’m not sure what’s going through their mind.

[Titansfan08]

Rentcels on suicide watch

[MuscleXtreme]

$400k for a house? damn cheap

you cant even buy a condo for $400k in Vancouver...

Why don’t you elect leaders that will be ban Chinese citizens (or just non-citizens) from owning property in Vancouver?

[FlexLex]

And people out there are still buying. I’m not sure what’s going through their mind.

If youre buying and selling your old house, its a wash minus the difference in mortgage rate, which for some may not be different at all

[rectifryer]

What youre going to see is people selling and buying houses at asking price, with some leverage for inspections and negotiation. This idea of a fire sale on housing is a crock pot full of ****. Not gonna happen. People still need places to live and real estate still remains a relatively safe and appreciating investment asset.

In fact the demand on housing likely will continue to increase, especially in cities, as more and more young people move to these areas and do not own homes. Most homes are owned by those 55+. So either yung people will inherit as these geezers die, and, in the meantime, will continue to buy property vs renting if they can

Look at the things that are elevated in price and have remained high: food, gas, housing--why? Because they are essentials. You dont need Apple stock to live, but you need housing, so theres less ability to have a sell off of an investment that you also actually require for survival; just like beef prices arent gonna tumble either

People literally can't afford to spend more. The avg mortgage was at 42% DTI BEFORE THE RATE INCREASES..... Inventory is rising RIGHT NOW astronomically. Two weeks ago we were 30% YoY. You're point about cities is off base. We don't have population growth, and most cities have seen NEGATIVE growth the past two years. So why did prices rise there?

FEAR

As that fear dies down, so does the bubble.

You cannot reasonably build a model to defend that value of current real estate. It is impossible.

edit: avg house price in canada down 20% since beginning of year lmao

[Visel]

I just want to know how he parked there; it's not like he bought a "lot" on the fukn beach

I remember reading about it years ago, but it's out of mind, maybe someone can research it to correct me. But it's definitely movie magic. The beach is actually on the coastline away from LA in Dockweiler Beach, so they got that right at least. But they don't explain exactly how Martin Riggs (Mel Gibson) was able to park there. I guess you can hypothesize it's because he's a cop and was able to kind of get away with things.

There's some websites where you can find trailer campgrounds at beach locations, but they end up being like $400/wk, or $1600/mo. So definitely not worth it. Below is an example for such a place in Florida.

https://www.beverlybeachcamptown.com...d-map-pricing/

But unless you own the land / beach, I don't think it'll be possible to get a private experience like Mel Gibson's character had in Lethal Weapon.

[JayJ350]

OP's reason for creating this tread is to seek positive reinforcement. He knows its over

Event the banks know it's over, they're working on their plan B.

[BraddlesMcGee]

Who lives here?

[rectifryer]

For context, this is the guy who supposedly sold off his properties at market peak - over a year ago.

and in those neighborhoods it was near peak lmao. We go over this everytime.

[BigDeeps01]

Based on what?

This correction coupled with interest rates will force would-be buyers right on the line to rent instead of buy. Meaning increases in rent prices, which I'm already seeing in Phoenix

[BigDeeps01]

House prices go up - Rents rise
House prices go down - Rents rise

Just LOL @ rentcels srs.

Lmao at rentcels actually tho :]

[BraddlesMcGee]

I hardly know the guy. Don't even have his name in my phone.

[ElArteSuave]

https://tradingeconomics.com/united-...sing-inventory just going to leave this here, supply is still historically low, keep on waiting for those deals tho fellas, I'm sure they'll happen any day now....