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Kelly Neidert, aka UNT’s finest, aka Christian Fascist, is at it again!


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Remember when people on here didn’t believe me that she called herself a Christian fascist? Here’s her group doing it again.

Do I support the family drag show at the bar in Deep Ellum, by the way? Absolutely not, so just taking away one of your talking points, Adler.

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Posted (edited)
38 minutes ago, Coffee and TV said:

This will be a balanced and rational discussion. 

Yeah, it has been quiet around here. Wanted to spice it up.

Edited by texx2818
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22 minutes ago, Coffee and TV said:

Also, sell your house or stay in it, but don't buy one right now. The bubble is bigger than 08 and probably going to pop again in the next year or two. 

 

 

housing.png

Disagree this is much different than 2008, the owners of homes have much better credit and stability.  Also it may burst in other states like NY and Cali Chicago but Texas is super hot and everyone is moving here.   There are not enough homes and the cost of building a home is astronomical right now. 

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54 minutes ago, Jonnyeagle said:

Also it may burst in other states like NY and Cali Chicago but Texas is super hot and everyone is moving here.  There are not enough homes and the cost of building a home is astronomical right now. 

Do you think the random states you plucked don't also have people moving there? Are they selling at astronomical values because nobody wants them or something? 

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5 hours ago, Coffee and TV said:

Also, sell your house or stay in it, but don't buy one right now. The bubble is bigger than 08 and probably going to pop again in the next year or two. 

 

 

housing.png

2008 was a total collapse of the financial system. We were a few hours away from complete obliteration of the dollar. Current conditions are inflationary issues. Most homes in 2008 were through ARMs or subprime mortgages. There are many cash buyers on the market due to inflation.

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California’s population has dropped the last two years while NY and Chicago have only grown about .25%.  Texas has grown a little over 1% in the past year.  Common sense would dictate that the housing market is much better here than in the aforementioned areas.

That being said, I expect the market to cool considerably in the near future. It seems unavoidable with the way things are going.

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7 hours ago, NT93 said:

California’s population has dropped the last two years while NY and Chicago have only grown about .25%.  Texas has grown a little over 1% in the past year.  Common sense would dictate that the housing market is much better here than in the aforementioned areas.

That being said, I expect the market to cool considerably in the near future. It seems unavoidable with the way things are going.

It’s definitely due for a market correction. Our house has almost doubled in price since we bought it in 2019.

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On 6/7/2022 at 7:44 AM, texx2818 said:

Remember when people on here didn’t believe me that she called herself a Christian fascist? Here’s her group doing it again.

Do I support the family drag show at the bar in Deep Ellum, by the way? Absolutely not, so just taking away one of your talking points, Adler.

so much stupid on both sides of the aisle by the 2-5% on the extremes, the other 90% just laugh at these clowns and just want to live their life. If the media would just ignore these coackroaches on both sides they would go away.

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37 minutes ago, untbowler said:

so much stupid on both sides of the aisle by the 2-5% on the extremes, the other 90% just laugh at these clowns and just want to live their life. If the media would just ignore these coackroaches on both sides they would go away.

The problem seems to be many in the media are part of that 2-5%

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14 hours ago, texx2818 said:

Most homes in 2008 were through ARMs or subprime mortgages. There are many cash buyers on the market due to inflation.

This is true, and banks were heavily leveraged in those.  Still - we are in a bubble, more in some places than others.  Some areas will continue to be hot -- like DFW and where I live in the DC area -- because of the population growth in those areas.  Rising interest and inflation rates will put downward pressure on the housing market overall.

I hope that's all sorted before I retire and sell in 4-5 years.

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23 hours ago, untbowler said:

so much stupid on both sides of the aisle by the 2-5% on the extremes, the other 90% just laugh at these clowns and just want to live their life. If the media would just ignore these coackroaches on both sides they would go away.

Right. Tell us how many Republicans voted to impeach the 2nd time around?  Tell me why the Georgia state legislature passed a law that overrides voting results based on their discretion?  Thankfully it's only a minority of extremists and we're not about to reverse Roe v Wade or undo any number of privacy decisions from the last 100 years. I was worried 44% of Republicans were looking for Trump to run in 2024, but I guess it's just a few larpers in the streets making noise. 

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On 6/7/2022 at 3:35 PM, Coffee and TV said:

Also, sell your house or stay in it, but don't buy one right now. The bubble is bigger than 08 and probably going to pop again in the next year or two. 

 

 

housing.png

 

This is a little different than '08. Perhaps a "why" behind the price spikes:

https://www.wfaa.com/article/news/local/report-texas-leads-nation-with-nearly-third-homes-sold-investors/287-002ba716-5794-411d-982f-d3c7677d13e6

 

This is a nation wide phenomenon.

 

 image.png.10c8186d80b3934f2129e7ff6a6d916f.png

https://www.washingtonpost.com/business/interactive/2022/housing-market-investors/

https://www.nytimes.com/2022/04/23/us/corporate-real-estate-investors-housing-market.html

 

These corporations are paying cash for houses....not financing 110% of the price like people were doing before the last crash...

Edited by TheColonyEagle
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It's not so different though - when these corporate purchasers either flood the market by listing them again OR write them off as a loss and default.. then it does impact the market in the same way and can/will/should drive prices back down. At least that is how I see it. 

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7 hours ago, Coffee and TV said:

Right. Tell us how many Republicans voted to impeach the 2nd time around?  Tell me why the Georgia state legislature passed a law that overrides voting results based on their discretion?  Thankfully it's only a minority of extremists and we're not about to reverse Roe v Wade or undo any number of privacy decisions from the last 100 years. I was worried 44% of Republicans were looking for Trump to run in 2024, but I guess it's just a few larpers in the streets making noise. 

Yep, all the fault of the GOP.

 

Edited by UNTLifer
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6 hours ago, SteaminWillieBeamin said:

It's not so different though - when these corporate purchasers either flood the market by listing them again OR write them off as a loss and default.. then it does impact the market in the same way and can/will/should drive prices back down. At least that is how I see it. 

I could see that....however it will take people not being able to pay rent anymore. I'll be curious to see if these big corporations will be able to evict folks that can't pay rent....the cynical part of me says they will be protected and not the renters this time...vs when normal people owned rent houses and couldn't do anything about non payment.

Edited by TheColonyEagle
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13 hours ago, TheColonyEagle said:

however it will take people not being able to pay rent anymore.

Not really - not exactly. The scenario is when these corporations decided that having their money tied up in short term rentals that are only returning 1% profit and now want to liquidate and it drives the market down 40%. How us commoners are affected and what a huge portion of the trouble from the previous bubble came from people being underwater and unable to move.

If a person bought at a market that a house is 500k, but it is now sitting at 300k, but they need to sell for whatever reasons (pay for kid's college, move for a new job, retirement is tied up in the house, out of job and need cash, whatever hundreds of valid reasons we have as humans to need capital). They cannot get it. It is not there. They cannot get a new loan, since they are *now* so highly leveraged with no way out. Banks do not loan more money to people that are so underwater.

So what happens (happened)? People walk away and let the bank take the house - they take the credit hit for 7 years - and that house re-enters the market at 300k. The market gets more flooded and drives down the market a little bit more until those corporations see that *now* they can reap huge profits again since the market is so low ... and then the cycle continues. Housing rebounds, corporations are happy, banks seem stability and a lot of people's lives are impacted for a long time. Affecting perhaps retirement, college loans for children, job market since the older people aren't leaving the market, etc etc etc. 

 

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2 hours ago, SteaminWillieBeamin said:

Not really - not exactly. The scenario is when these corporations decided that having their money tied up in short term rentals that are only returning 1% profit and now want to liquidate and it drives the market down 40%. How us commoners are affected and what a huge portion of the trouble from the previous bubble came from people being underwater and unable to move.

If a person bought at a market that a house is 500k, but it is now sitting at 300k, but they need to sell for whatever reasons (pay for kid's college, move for a new job, retirement is tied up in the house, out of job and need cash, whatever hundreds of valid reasons we have as humans to need capital). They cannot get it. It is not there. They cannot get a new loan, since they are *now* so highly leveraged with no way out. Banks do not loan more money to people that are so underwater.

So what happens (happened)? People walk away and let the bank take the house - they take the credit hit for 7 years - and that house re-enters the market at 300k. The market gets more flooded and drives down the market a little bit more until those corporations see that *now* they can reap huge profits again since the market is so low ... and then the cycle continues. Housing rebounds, corporations are happy, banks seem stability and a lot of people's lives are impacted for a long time. Affecting perhaps retirement, college loans for children, job market since the older people aren't leaving the market, etc etc etc. 

 

But if individual people are being forced to rent because they can’t afford to buy (because prices are being influenced by these big corporations driving them up)…..these rentals are no longer “short term” investments. People will always need a roof over their head.
 

We’ll see what this all means in a few years but these corporations are buying at the peak right now…..not the bottom. Tells me they are in this for the long haul….one of the articles (I think one of the ones I posted) talks about these corporations measuring MRR. MRR has no end….you want to keep that going forever. That’s why so many software companies go to SaaS models.

Also, (probably a longer discussion) but this seems to be part of a larger cultural shift that is happening now. Individual property ownership was a big part of the American experience….however, like a lot of entities today, that is being monopolized by a few large corporations. I think we’re headed toward a large generation of perpetual “renters.” 

 

 

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