Home Ownership

[Gatordash]

Originally Posted by Jibartik [You must be logged in to view images. Log in or Register.]

fuuuuuck yeaaaaa economic craaaaasshhh!!!

Its just a poll so you never know. Here in Las Vegas mid range homes seem to be 200-300k overpriced imo. I refinanced my 3bd 3ba home a few months ago and they appraised it at 2.5x what I bought it for. My house is definitely not worth what the appraisal is. If you haven't been paying rent/mortgage then you've had almost 2 years to figure out what you're going to do. If the market does crash, then the people I really feel bad for are the ones who bought homes in the past 2 years. Paying mortgage on a 900k house that is now worth 600k would be hell.

[-TK-]

Originally Posted by Gatordash [You must be logged in to view images. Log in or Register.]

If the market does crash, then the people I really feel bad for are the ones who bought homes in the past 2 years. Paying mortgage on a 900k house that is now worth 600k would be hell.

Did you see the home equity loan numbers from Q2 2020 through now? Big sheesh. That will compound the crash.

I'm locked and loaded with feelers already out to pick up a couple more properties during the coming downturn. Just a waiting game now. My purchases between 2008-2015 were some of my best investments to date. They all have at least doubled in value and each brings in $2,000-$2,600 a month in rent here in CO.

[Jibartik]

Originally Posted by -TK- [You must be logged in to view images. Log in or Register.]

My purchases between 2008-2015 were some of my best investments to date. They all have at least doubled in value and each brings in $2,000-$2,600 a month in rent here in CO.

I dont think people realize how much of the roaring 20's the 2010's were. I saw so many people become a millionaires with home prices doubling easily or sometimes trippling or even more.

And we saw all this new tech boom bullshit that we thought was going to turn is into androids and movies and netflix were pooring cool shit down our gullets watching tv shows that rival the biggest fantasy films of all time

MDMA DMT Legalized weed and Micro dosing psychotropics became casual drug use.

The 2010s were great.... If the 2020's are going to be the roaring 20's then I dont know what the fuck to expect.

But if you asked me the 2010s were the fun years, and the ones to come are going to feel like the dustbowl years did.

[Gatordash]

Originally Posted by -TK- [You must be logged in to view images. Log in or Register.]

Did you see the home equity loan numbers from Q2 2020 through now? Big sheesh. That will compound the crash.

I'm locked and loaded with feelers already out to pick up a couple more properties during the coming downturn. Just a waiting game now. My purchases between 2008-2015 were some of my best investments to date. They all have at least doubled in value and each brings in $2,000-$2,600 a month in rent here in CO.

Based on the US Census Bureau alone, 7.4% of homeowners are late on mortgage payments. Of those late on mortgage payments, 18.5% think they are heading to foreclosure in the next 2 months, while 81.5% think they will be able to catch up on payments.

If these numbers are accurate (and its just a government census poll so who knows), then 1.36% of people who own homes are expecting to get foreclosed on pretty soon.

According to Pew Research, in 2008 and first quarter 2009, the national foreclosure rate was 1.8%.