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Dec 30th, 2023
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 Re: The Market is Taking a Dump
[Re: Zipster]
#14395773
06/16/22 05:13 PM
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Joined: Jul 2011
Posts: 9,198
the skipper
TFF Celebrity
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TFF Celebrity
Joined: Jul 2011
Posts: 9,198 |
A big problem in Real Estate is that large investor corporations are buying up all of the homes from 0 -500k, basically taking the first time home buyer, or the middle class buyer out of the market. Those houses most likely will never see the market again and will be long-term rentals or lease houses. They will also go in and buy complete subdivisions that are in the buildout stage at a discounted price once the builder gets into financial trouble. It is a real problem and is going to force a lot of people into rental situations that normally wouldn't do so. They have turned housing into commodities effectively. That's been the plan the whole time. "You will own nothing and be happy" They are working the plan I would say, except the happy part. It's more like you will own nothing and be a slave to whatever they say
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Re: The Market is Taking a Dump
[Re: DI]
#14395834
06/16/22 06:27 PM
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Joined: Oct 2005
Posts: 85,918
John175☮
MACHO MAN
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MACHO MAN
Joined: Oct 2005
Posts: 85,918 |
I'm just waiting for the layoffs to jump to all industries. Should be showing up by the end of the year.
“Do not pray for easier lives. Pray to be stronger men.” -JFK
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Re: The Market is Taking a Dump
[Re: John175☮]
#14395838
06/16/22 06:31 PM
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Joined: May 2004
Posts: 13,654
Tiltman
TFF Guru
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TFF Guru
Joined: May 2004
Posts: 13,654 |
I'm just waiting for the layoffs to jump to all industries. Should be showing up by the end of the year. An insider in Mortgage lending told me today the layoff machine is up and running getting ready for some serious fallout.
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Re: The Market is Taking a Dump
[Re: DI]
#14395871
06/16/22 07:00 PM
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Joined: Mar 2003
Posts: 18,278
Hookem
TFF Guru
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TFF Guru
Joined: Mar 2003
Posts: 18,278 |
Compass, Coinbase, Redfin(who I just sold the old house and who I bought the new one through) all announced layoffs.
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Re: The Market is Taking a Dump
[Re: Zipster]
#14395893
06/16/22 07:30 PM
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Joined: Jul 2010
Posts: 9,512
TR176
TFF Celebrity
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TFF Celebrity
Joined: Jul 2010
Posts: 9,512 |
[
Not talking about new homes yes I know that some builders develop whole neighborhoods that will be rentals I have zero issue with those. What I talking about is the management companies that go into established neighborhoods and offer over asking to snatch up houses to rent. Some of them will even work with Section 8 folks for renters they simply don’t care as long as they get their return. It is basically ruining some older neighborhoods in my area and yes pretty sure these are financing the homes. Yes sir. Exactly what I am talking about/[/quote] There is an area out on 380 east of Denton called Providence. They have just updated HOA rules to require all section 8 to be booted and prohibit further section 8 rentals, I don’t see how this is legal but the article is a good read and discussion about a middle class area facing this exact issue.
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Re: The Market is Taking a Dump
[Re: DI]
#14396009
06/16/22 09:33 PM
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Joined: May 2002
Posts: 82,397
Bob Davis
Bunkeroid Bob
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Bunkeroid Bob
Joined: May 2002
Posts: 82,397 |
![[Linked Image]](https://texasfishingforum.com/forums/pics/userpics/2020/11/full-1606-72644-flagsmall.jpg) ![[Linked Image]](http://storage.proboards.com/301739/images/59Zi67J3Dhm1xCemT6hS.gif) Foxtrot Juliet Bravo
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Re: The Market is Taking a Dump
[Re: DI]
#14396015
06/16/22 09:36 PM
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Joined: Dec 2008
Posts: 16,157
grout-scout
TFF Guru
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TFF Guru
Joined: Dec 2008
Posts: 16,157 |
Whooooo, love me some democrat president. But the moron doesn’t post any mean tweets!
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Re: The Market is Taking a Dump
[Re: DI]
#14396020
06/16/22 09:41 PM
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Joined: May 2002
Posts: 5,725
JCG57
TFF Celebrity
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TFF Celebrity
Joined: May 2002
Posts: 5,725 |
July will bring quarterly reports and reduced earnings guidance. Will start to go bargain shopping in about five weeks.
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Re: The Market is Taking a Dump
[Re: patriot07]
#14396034
06/16/22 09:54 PM
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Joined: May 2007
Posts: 40,362
WAWI
TFF Guru
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TFF Guru
Joined: May 2007
Posts: 40,362 |
A big problem in Real Estate is that large investor corporations are buying up all of the homes from 0 -500k, basically taking the first time home buyer, or the middle class buyer out of the market. Those houses most likely will never see the market again and will be long-term rentals or lease houses. They will also go in and buy complete subdivisions that are in the buildout stage at a discounted price once the builder gets into financial trouble. It is a real problem and is going to force a lot of people into rental situations that normally wouldn't do so. They have turned housing into commodities effectively. Yeah, I don't see people who own rentals selling. The value of those homes won't drop significantly. People still gotta have a place to live and if they're not owning, they're renting. I own 3 and I'm not selling until I'm well into retirement 30-40 years from now. It's the $500k+ homes that will take a hit, where an increase from 4% to 7% is $1000/month in mortgage payment. I just got notice from a tenant 2 days ago, I raised new rent 40 percent and have 30 people wanting to see it lol.
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Re: The Market is Taking a Dump
[Re: WAWI]
#14396076
06/16/22 10:33 PM
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Joined: Apr 2010
Posts: 3,466
Zipster
TFF Team Angler
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TFF Team Angler
Joined: Apr 2010
Posts: 3,466 |
A big problem in Real Estate is that large investor corporations are buying up all of the homes from 0 -500k, basically taking the first time home buyer, or the middle class buyer out of the market. Those houses most likely will never see the market again and will be long-term rentals or lease houses. They will also go in and buy complete subdivisions that are in the buildout stage at a discounted price once the builder gets into financial trouble. It is a real problem and is going to force a lot of people into rental situations that normally wouldn't do so. They have turned housing into commodities effectively. Yeah, I don't see people who own rentals selling. The value of those homes won't drop significantly. People still gotta have a place to live and if they're not owning, they're renting. I own 3 and I'm not selling until I'm well into retirement 30-40 years from now. It's the $500k+ homes that will take a hit, where an increase from 4% to 7% is $1000/month in mortgage payment. I just got notice from a tenant 2 days ago, I raised new rent 40 percent and have 30 people wanting to see it lol. Maybe not; but that is today, and we are in the early stages of a recession. What about a year from now, or two when inflation still hasn't abated and people can't afford your increase any longer. I'm not disputing that people will need a place to live or will rent. It's been proven over time; but look at covid when they said you couldn't evict people. Did you get hurt during that? Investors aren't going to bleed for long before they bail out.
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Re: The Market is Taking a Dump
[Re: DI]
#14396130
06/16/22 11:46 PM
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Joined: Mar 2020
Posts: 531
1956Zebco
Pro Angler
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Pro Angler
Joined: Mar 2020
Posts: 531 |
When you guys voted for this new Dem. President, did you really think it would cause this much economic mayhem?
Asking for a friend.
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Re: The Market is Taking a Dump
[Re: 1956Zebco]
#14396149
06/17/22 12:11 AM
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Joined: Dec 2008
Posts: 16,157
grout-scout
TFF Guru
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TFF Guru
Joined: Dec 2008
Posts: 16,157 |
When you guys voted for this new Dem. President, did you really think it would cause this much economic mayhem?
Asking for a friend. Come on now, you know they’ll say it was all Trumps fault.
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Re: The Market is Taking a Dump
[Re: 1956Zebco]
#14396245
06/17/22 01:50 AM
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Joined: Jan 2013
Posts: 7,215
Scoundrel
TFF Celebrity
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TFF Celebrity
Joined: Jan 2013
Posts: 7,215 |
When you guys voted for this new Dem. President, did you really think it would cause this much economic mayhem?
Asking for a friend. Brandon has exceeded all expectations for disaster, the economic aspect is just a small part of this complete body of work.
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Re: The Market is Taking a Dump
[Re: Scoundrel]
#14396250
06/17/22 01:52 AM
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Joined: Jan 2013
Posts: 7,215
Scoundrel
TFF Celebrity
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TFF Celebrity
Joined: Jan 2013
Posts: 7,215 |
When you guys voted for this new Dem. President, did you really think it would cause this much economic mayhem?
Asking for a friend. Brandon has exceeded all expectations for disaster, the economic aspect is just a small part of this complete body of work. And he isn’t even halfway done. 
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Re: The Market is Taking a Dump
[Re: DI]
#14396531
06/17/22 02:01 PM
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Joined: Mar 2019
Posts: 336
Hogfan1
Angler
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Angler
Joined: Mar 2019
Posts: 336 |
Hopefully, after November, he won’t be able to screw anything else up.
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