Another article showing concern in the housing market- yet the author may have lacked critical thinking
- Thread starter GON
- Start date
Listing price is one thing and sale price is another. If there are no bidding wars in your region, then you need to start putting in offers for what you think you would pay.
If you’re waiting for the list prices to be in line with what you think they should be, then you may find yourself waiting a long time and regretting not taking action now.
I’ve bought several homes, all of them were more than I thought they should be, but market is what it is and you have to make sure not to over leverage yourself. If you take care of that, you will be well protected even if a correction comes.
GON
$150 Site Donor 2025
Why do you always post a cartoon when the facts don't align from your crusade? It is ok and normal to look at information, reflect, and reassess.
You have posted over a dozen cartoons in this and like threads, and doom and gloom links, but I have yet to see you post a reply that shows a family that purchased a home in JAN 2022, is not green on a gross basis today.
I've been trying to purchase an Eastern TN house on some acreage. Over the last 5 years, the prices have gone from $399 to $1.2M, down to $1.15M. Not much of a correction yet. Of course, TN is being flooded with tax-refugees from less free states.
Yep, lots of folks from NE headed to Florida for the sunshine and low(er) taxes.
GON
$150 Site Donor 2025
Fact or assumption by you? I never see you post quantifiable data- so I am concluding that your replies on the current state and future of single-family housing is from your gut, not data.
Price Ramp to peak 2004 - 2006 was 30%
Price Ramp to peak in 2020-2022 was 41%
National trend is down last 3 months - about 1% per month, meaning 3 points the trend is down. It could start going back up. It never has before, but who knows? I Don't.
Those are known as facts, as published by Case Shiller and the Federal Reserve.
Past performance does not guarantee future results.
They may not be reflected in a single property as all markets are local.
What facts are in dispute?
Price Ramp to peak in 2020-2022 was 41%
National trend is down last 3 months - about 1% per month, meaning 3 points the trend is down. It could start going back up. It never has before, but who knows? I Don't.
Those are known as facts, as published by Case Shiller and the Federal Reserve.
Past performance does not guarantee future results.
They may not be reflected in a single property as all markets are local.
What facts are in dispute?
Try looking through these:
https://www.redfin.com/news/market-tracker/
https://www.redfin.com/news/data-center/
GON
$150 Site Donor 2025
SCM,
Show me ten houses that sold on or before JAN 2022 that sold in the last 60 days at a loss when compared to JAN 2022 in any of the top 25 markets in the USA? I search for this every single day, and I can't find it. I am hoping others can find this data and post it, but nobody ever does- not a single person. I appreciate you posting and discussing the Case Shiller reference, but there is no "so what" in thew data when it comes to the actual sales prices of single-family homes. What Case-Shiller and the Federal Reserve are publishing is not aligning to actual sales.
GON
$150 Site Donor 2025
ZYZ,
The pattern is the same in your posts about housing, you post about the quantity of single-family home sales declining- BUT YOU NEVER POST DATA ABOUT SINGLE FAMILY SOLD PRICES DECLINING.
You are no dummy, you know what you are posting shows not a single piece of data that the sold prices of homes today have declined, not even a single penny, from JAN 2022, just 11 months ago.
I had a forensic accounting acquaintance, very smart guy. From 2007-2009 he went through AMZN's financial and founds all kinds of irregularities, and calculations that didn't align with generally accepted accounting methods. He was convinced AMZN was a fraud and was going to implode, and he shorted AMZN stock for years knowing it was when, not if AMZN was going to have a stock price crash. He let his brains and emotions take over the actual critical thinking and holistic data. He, although super smart- lost a huge amount of money on shorting AMZN.
Because some people still think it's different this time:
GON
$150 Site Donor 2025
I'll take you reply as you "got nothing".
Very curious know what is going on with opendoor? Is it a trend of dropping prices everywhere?
GON
$150 Site Donor 2025
That chart is a 2022 chart from what is displayed. Assuming it is from JAN 2022 through today, it shows homes this very day, single family homes are selling for more than they sold for in JAN 2022. And the end of the chart is showing a small, but noticeable upswing in prices.
Just a personal observation. In an Earlier post GON says his house took 15 years to sell. No house takes 15 years to sell unless one isn't motivated to sell it. I had a house that took me three years to sell. I was chasing the market downward at the time. I would list it in the spring/summer-and pull it off the MLS in the winter. I suspect a scenario like this took place.
He blocks my posts-so we won't get a direct answer here.
He blocks my posts-so we won't get a direct answer here.
As I was saying-probably. I was chasing the market DOWN.
I am not a real estate professional - I can only point you to broad analytical data.
Zillow says my house has dropped 1.6% in the last 30 days, FWIW. If its true I don't care, its not for sale.
The housing market was trending up Feb 2012 to June 2022. Over 10 years. If at any point in that trend you bought a house, odds are a month later it would be worth more. There were a few months during that trend where the prices lost a little, but tiny amounts, fractions of a percent, and it always reverted to back up, ramping massively in the last 2 years. That certainly doesn't mean every house in the country did that.
Your current national trend is 3 months down - 2.6% total, which is a pretty big move down. . For how long - who knows - but trends require a catalyst to change.
Local markets can do their own thing, you should make your own financial decisions accordingly.
I am not sure what answer your looking for.
Similar threads
