U.S. President Donald Trump has threatened to impose far larger tariffs on the European Union and Canada if they work together to combat trade tariffs.
I really don’t think that’s how it works. Like no one has ever sold their house below market to such an extent that one would run to buy it. That makes no sense. If you lose your house, it goes to the bank.
I mean, anecdotally, I do know someone that bought a new build in mid 2008 for about 60k-ish less than what everyone else in the neighborhood bought for (earlier or later). The company building out the subdivision was pretty desperate and he had a solid stable job as a trucker. He managed to get all kinds of perks and stuff too.
60k is nothing at all if your loan means forever being a slave until you retire and haven’t paid it all. I wish housing was a thing we could actually finish paying within our useful… Before 60’s lifetime. What the fuck do I need a new gazebo for when I’m 80? Screw that shit. I want it now.
oh, you’ll know. talk to friends and family who may have been through this before. make a plan (or five) for something that works. there are paths depending on your goals - individual, multi-family, communal, etc. only you (and other potential participants) know what you might want to achieve.
the most important thing its talking to people who have been through it before. start doing that so you have some inkling of what to look for and what might work if you have resources. a great deal of it is luck but some of it is forethought.
reminder: none of this is competent financial advice and you should probably ignore it.
Think about what you’re saying. The market value fluctuates over time. Right now US housing is artificially inflated because of monopolies and rampant real estate speculation. When it tanks, it could tank hard and fast, and it might never get back to current levels. Nobody knows. And that is the time when tens of millions of Americans would love to buy homes.
But the thing is that it never works like that! Uhh look wall street just fucked up! Now I can afford my house! Finall…oh just lost my job. Ah never mind! I’ll just be here under the underpass. I agree, you can find a moment. It will be a Walmart moment. Think about it like Christmas waiting at the door for your PS 3 at 2am. Its just 2 of you waiting to bust thru the door and grab that PS 3. Then it’s 2:30am and you got 15 fellow gamers. At 5 am the line goes around the block and the TV helicopter is flying around so you can’t hear anything. 6 am you’re planning …I’m gonna go to the right! Surely the toy section! 7am! You bust in and you run to the right and see nothing, keep going, to the left, to the right! Found the pile! Run! Fucker run! Oh shit they’re gone! They’re all gone!..Walmart has another 300 in the back. They’ll put them up 10 by 10 to keep the frenzy going. Same here, the banks will soft land them selves into loan heaven… 1.2million! Can’t afford? Foreclosure! 800k? Sure…can’t afford? Foreclosure! 590k? Sure! Can’t afford? …the same house getting sold over and over to different fools. The only way around the game is to buy what you can afford and live in it until you die…then the game continues with other fools.
I can see you weren’t around when the fallout of 08 happened. Read some articles about the 08 crash. With all of these people losing their jobs, you don’t think there will be ramifications to that? The job market is complete shit right now, more people looking than jobs available. The dominoes have been tipped and are starting to fall. The sooner you realize that the better you will be on the recovery. There’s a bad moon rising and trouble is on the way.
That’s why I’m telling you, housing doesn’t drop. Fallout of 08…amature… Look, my parents bought a house for 75k back when I was just in highschool. We had been renting for a long time. My parents both are blue collar and made maybe 65k combined. But you see that? Income is almost the same as the price of the home? 15 years later I helped make the very last payments. My dad passed away only 5 years after that. Awesome retirement! Right? Fuck that! The house is now worth 1.2million. Uuu! Let’s sell it at the height! Yeah gonna make a ton of money! Nope, if you sell you won’t be able to afford the next one. Within months inflation leaves you in the dust. I bough a house down the road for 500k before your said 2008 hiccup. Now its 1.3million. And so are the taxes like 10 fold. You can’t own anything if you get sick or lose your job. Waiting for the “right moment” that’s what vultures. And I’m not criticizing you became when I bought my house everything around me was 700k. So a fixed upper for below market… Yey! 5 years of hard work that I’ll never get paid for. I’m on my 3rd house became I need to move around for my job. Go ahead tell me I should rent it out. I did that and learned how renters destroy because they don’t own so they don’t care. All the tariff stuff, that’s gonna send inflation up thru the roof so you won’t be able to afford when you think the right moment is coming. You’ll just be out on the street still waiting for the right moment. No. The best advice I can give you is to buy the most affordable thing you can be allowed to buy and work you ass off on it so you can upgrade. Once you own a house, you’re riding the market. Then you can move when the market drops… If you sell when the market is high. You think its high now? Then sell. LOL you can’t predict that market. I just hope that my kids are able to at least stay in our house and be able to pay it off one day. I’m in Washington state. Here taxes are like a python…ohh I can afford that! Goes up to your shoulders… Sure I’ll vote for improved roads and schools… Taxes double… WTF! Now you can barely make enough to pay rent and keep from freezing. And Californians read this and think…man I’ve gone without AC for a year before, just ride it out!..dude, go in the freezer and stay there for 6 months, let me know how that went. Make sure its plugged in. The other side! The one with the ice cubes!
I was lucky enough to be able to leverage a VA loan, and had a solid and secure job during the 2008 recession, which is the ONLY reason I was able to buy a home. Ever.
I couldn’t do it today. Not 3 years ago during “The bestest economies evar!” Not 6 years ago while the admin was “Making American Great Again”…
Nope, it was because of a recession, so houses sat on market for 4 or 5 months. Almost any offer was being taken. I even talked the seller down 9K on my home. That’s how bad it was.
I really don’t think that’s how it works. Like no one has ever sold their house below market to such an extent that one would run to buy it. That makes no sense. If you lose your house, it goes to the bank.
but banks dont want houses. they want the balance of the loan. in a moderate recession realestate will get auctioned fast and low.
Okay. Whatever you say Mr. Let me know when that happens so I can get one too!
I mean, anecdotally, I do know someone that bought a new build in mid 2008 for about 60k-ish less than what everyone else in the neighborhood bought for (earlier or later). The company building out the subdivision was pretty desperate and he had a solid stable job as a trucker. He managed to get all kinds of perks and stuff too.
60k is nothing at all if your loan means forever being a slave until you retire and haven’t paid it all. I wish housing was a thing we could actually finish paying within our useful… Before 60’s lifetime. What the fuck do I need a new gazebo for when I’m 80? Screw that shit. I want it now.
LOL. We’re so fucked.
A discount of $60000 is not “nothing at all”. At current rates, it’s about $300 off your monthly payment.
That’s $300 more than I can spare.
It’s $300 less, not $300 more.
No matter how much you are paying, you can afford to pay $300 less.
Just google “foreclosure auction” in your area. Those houses will generally sell below market.
Or just use any other better search like Bing or duckduckgo. googol sucks and was never any good.
oh, you’ll know. talk to friends and family who may have been through this before. make a plan (or five) for something that works. there are paths depending on your goals - individual, multi-family, communal, etc. only you (and other potential participants) know what you might want to achieve.
the most important thing its talking to people who have been through it before. start doing that so you have some inkling of what to look for and what might work if you have resources. a great deal of it is luck but some of it is forethought.
reminder: none of this is competent financial advice and you should probably ignore it.
Think about what you’re saying. The market value fluctuates over time. Right now US housing is artificially inflated because of monopolies and rampant real estate speculation. When it tanks, it could tank hard and fast, and it might never get back to current levels. Nobody knows. And that is the time when tens of millions of Americans would love to buy homes.
But the thing is that it never works like that! Uhh look wall street just fucked up! Now I can afford my house! Finall…oh just lost my job. Ah never mind! I’ll just be here under the underpass. I agree, you can find a moment. It will be a Walmart moment. Think about it like Christmas waiting at the door for your PS 3 at 2am. Its just 2 of you waiting to bust thru the door and grab that PS 3. Then it’s 2:30am and you got 15 fellow gamers. At 5 am the line goes around the block and the TV helicopter is flying around so you can’t hear anything. 6 am you’re planning …I’m gonna go to the right! Surely the toy section! 7am! You bust in and you run to the right and see nothing, keep going, to the left, to the right! Found the pile! Run! Fucker run! Oh shit they’re gone! They’re all gone!..Walmart has another 300 in the back. They’ll put them up 10 by 10 to keep the frenzy going. Same here, the banks will soft land them selves into loan heaven… 1.2million! Can’t afford? Foreclosure! 800k? Sure…can’t afford? Foreclosure! 590k? Sure! Can’t afford? …the same house getting sold over and over to different fools. The only way around the game is to buy what you can afford and live in it until you die…then the game continues with other fools.
I can see you weren’t around when the fallout of 08 happened. Read some articles about the 08 crash. With all of these people losing their jobs, you don’t think there will be ramifications to that? The job market is complete shit right now, more people looking than jobs available. The dominoes have been tipped and are starting to fall. The sooner you realize that the better you will be on the recovery. There’s a bad moon rising and trouble is on the way.
That’s why I’m telling you, housing doesn’t drop. Fallout of 08…amature… Look, my parents bought a house for 75k back when I was just in highschool. We had been renting for a long time. My parents both are blue collar and made maybe 65k combined. But you see that? Income is almost the same as the price of the home? 15 years later I helped make the very last payments. My dad passed away only 5 years after that. Awesome retirement! Right? Fuck that! The house is now worth 1.2million. Uuu! Let’s sell it at the height! Yeah gonna make a ton of money! Nope, if you sell you won’t be able to afford the next one. Within months inflation leaves you in the dust. I bough a house down the road for 500k before your said 2008 hiccup. Now its 1.3million. And so are the taxes like 10 fold. You can’t own anything if you get sick or lose your job. Waiting for the “right moment” that’s what vultures. And I’m not criticizing you became when I bought my house everything around me was 700k. So a fixed upper for below market… Yey! 5 years of hard work that I’ll never get paid for. I’m on my 3rd house became I need to move around for my job. Go ahead tell me I should rent it out. I did that and learned how renters destroy because they don’t own so they don’t care. All the tariff stuff, that’s gonna send inflation up thru the roof so you won’t be able to afford when you think the right moment is coming. You’ll just be out on the street still waiting for the right moment. No. The best advice I can give you is to buy the most affordable thing you can be allowed to buy and work you ass off on it so you can upgrade. Once you own a house, you’re riding the market. Then you can move when the market drops… If you sell when the market is high. You think its high now? Then sell. LOL you can’t predict that market. I just hope that my kids are able to at least stay in our house and be able to pay it off one day. I’m in Washington state. Here taxes are like a python…ohh I can afford that! Goes up to your shoulders… Sure I’ll vote for improved roads and schools… Taxes double… WTF! Now you can barely make enough to pay rent and keep from freezing. And Californians read this and think…man I’ve gone without AC for a year before, just ride it out!..dude, go in the freezer and stay there for 6 months, let me know how that went. Make sure its plugged in. The other side! The one with the ice cubes!
House prices cratered during 2008-2014… So did interest rates.
I was lucky enough to be able to leverage a VA loan, and had a solid and secure job during the 2008 recession, which is the ONLY reason I was able to buy a home. Ever.
I couldn’t do it today. Not 3 years ago during “The bestest economies evar!” Not 6 years ago while the admin was “Making American Great Again”…
Nope, it was because of a recession, so houses sat on market for 4 or 5 months. Almost any offer was being taken. I even talked the seller down 9K on my home. That’s how bad it was.
There has never been a president like donald.
This is true but I personally am not gonna be selling my house for a low low price just because Hitler is the president.
Think it through for a minute. You won’t be selling.
And you won’t be buying.