No, but homes they own never hit the market again.

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Nov 18, 2021
7:55:28pm

rtNelson All-American

No, but homes they own never hit the market again.

So good homes in high value areas experiencing the most growth could be just rarely on the market due to people sitting on them. When those values go up due to low availability, people go for cheaper options in mass, raising the prices of homes further out of the city. Everything goes up.

At least that's my super simplified know nothing version of what could be happening.

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rtNelson

Bio page: rtNelson
Joined: Sep 17, 2008
Last login: May 3, 2024
Total posts: 9,839 (38 FO)

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Messages

Author

Time

Here is what I dont understand.

rad dawg

11/18/21 7:41pm

I listened to this a couple months ago. Interesting points.

runitup590

11/18/21 7:43pm

What’s going to be interesting is when all of the boomers die off. They’re a

Polemic

11/18/21 7:44pm

Weird, I remember like 5 years ago when millenials were going to ruin the housing market because so many preferred to

Mike Honcho

11/18/21 7:45pm

Immigration. Unchecked.

11/18/21 7:45pm

This doesn't even get acknowledged, Id like to see a pie chart of accountability

Rhubarb

11/18/21 7:53pm

Illegal immigrants aren’t buying houses. They’re living in crowded homes.

11/18/21 7:56pm

If true, even that has a ripple effect, and they are also renting

Rhubarb

11/18/21 8:01pm

Then the problem is those renters who are now buying homes suddenly have an

11/18/21 8:08pm

How can an Illegal immigrant buy a house with zero credit, no job, and 0 money?

Pretorian

11/18/21 8:10pm

I meant to say aren’t. Corrected now.

11/18/21 8:17pm

You’d think that were the case, but you’d be surprised that they can and are.

seacougar

11/19/21 1:37am

Ok, how?

Pretorian

11/19/21 10:01am

It may not be sustainable but it may not crash like 08 with demand and inflation

stealth

11/18/21 7:47pm

I think you may have answered your own question.

crack

11/18/21 7:47pm

Debt has been rising for a long time. It explains the how

rad dawg

11/18/21 7:51pm

Maybe this?

crack

11/18/21 7:52pm

Man, Warren is a lot grittier than I thought . . .

85fan

11/18/21 9:00pm

RE: Maybe this?

rad dawg

11/18/21 9:14pm

My parents, plus 2 of my uncles own 30+ homes between them.

rtNelson

11/18/21 7:48pm

Did they all start buying them in 2020 though?

rad dawg

11/18/21 7:49pm

No, but homes they own never hit the market again.

rtNelson

11/18/21 7:55pm

Are these homes sitting empty or do they have renters

novacoug1

11/18/21 8:32pm

China

homegrown

11/18/21 7:50pm

Banks and investors buying houses up as rentals as

bad84cougar

11/18/21 7:50pm

This seems most likely but havent they also been buying for awhile?

rad dawg

11/18/21 7:58pm

I’ve read there’s 30% more dollars in circulation than last year

Artist

11/18/21 7:51pm

Household disposable income is already back to pre pandemic levels.

rad dawg

11/18/21 7:53pm

Really? That is amazing. No wonder inflation (real inflation, not the govt

crack

11/18/21 7:53pm

It might be even worse than my number:

Artist

11/18/21 8:01pm

I am skeptical of stuff like this.

rad dawg

11/18/21 8:04pm

My simple brain says COVID significantly decreased the supply of stuff and then stimulus significantly increased the

Odysseus

11/18/21 7:51pm

Also, The remote work and exodus of ca has pushed people to cheaper states

stealth

11/18/21 9:04pm

Millennials are 25-40 and in prime home buying years. Many bought later than

11/18/21 7:52pm

I talked to a realtor the other day. She mentioned a small RE corporation that s

kotacoug

11/18/21 7:57pm

Investment groups have been buying single family homes

HuskerFan2

11/18/21 7:58pm

Yep. This is the driving force and not just them.

kotacoug

11/18/21 7:58pm

This is reversing cause and effect.

11/18/21 8:14pm

Don't blame them since they can't get any interest on the cash. They gotta do

crack

11/18/21 8:17pm

True, but the longer they play the bigger the potential crash.

HuskerFan2

11/18/21 8:24pm

I dont understand why people think there is going to be a crash

Backcountry

11/18/21 10:05pm

Zillow already has stopped

novacoug1

11/18/21 8:33pm

They stopped buying. I doubt they will sell anything right now.

HuskerFan2

11/18/21 8:45pm

They are selling homes in my market currently.

rad dawg

11/19/21 7:20am

I had an unsolicited cash offer last week for m house in Utah. It is actually

Nat Gas Man

11/18/21 8:40pm

Late to the party but here’s my take:

stenso

11/18/21 8:38pm

That doesnt explain the sudden explosion in 2020 though.

rad dawg

11/18/21 8:53pm

10000 baby boomers retiring every day and many buying retirement houses in

Nat Gas Man

11/19/21 8:16am

Money has been very cheap for a long time. ~3% interest rates are attractive

reddead

11/18/21 8:54pm

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