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Need to buy a house Wait until September #7572912
04/29/22 07:16 PM
04/29/22 07:16 PM
Joined: Feb 2014
Posts: 13,058
Ky
J
jbyrd63 Offline OP
trapper
jbyrd63  Offline OP
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J

Joined: Feb 2014
Posts: 13,058
Ky
Homes sales will plummet in next couple months Showings and inquiries dropped almost 40 % in April. Down almost 60% from high By September house prices will be close to real values. You heard it hear first !

Last edited by jbyrd63; 04/29/22 08:04 PM.
Re: Need to buy a house Wait until September [Re: jbyrd63] #7572915
04/29/22 07:18 PM
04/29/22 07:18 PM
Joined: Dec 2006
Posts: 9,031
Coldspring Texas
Savell Offline
"Wilbur"
Savell  Offline
"Wilbur"

Joined: Dec 2006
Posts: 9,031
Coldspring Texas
[Linked Image]


Insert profound nonsense here
Re: Need to buy a house Wait until September [Re: jbyrd63] #7572916
04/29/22 07:19 PM
04/29/22 07:19 PM
Joined: May 2010
Posts: 2,707
The great cage state Colorado
M
Monster Toms Offline
trapper
Monster Toms  Offline
trapper
M

Joined: May 2010
Posts: 2,707
The great cage state Colorado
In your neighborhood or nationwide?






Re: Need to buy a house Wait until September [Re: jbyrd63] #7572919
04/29/22 07:23 PM
04/29/22 07:23 PM
Joined: May 2010
Posts: 10,421
mn north of blakely
S
Steven 49er Offline
trapper
Steven 49er  Offline
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S

Joined: May 2010
Posts: 10,421
mn north of blakely
What constitutes a plummet?

20 percent?

More?


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: Need to buy a house Wait until September [Re: jbyrd63] #7572920
04/29/22 07:25 PM
04/29/22 07:25 PM
Joined: Oct 2009
Posts: 7,249
western mn
B
bucksnbears Offline
trapper
bucksnbears  Offline
trapper
B

Joined: Oct 2009
Posts: 7,249
western mn
OK!!

Should we wait till early or late September?


swampgas chili and schmidt beer makes for a deadly combo

You have to remember that 1 out of 3 Democratic Voters is just as dumb as the other two.
Re: Need to buy a house Wait until September [Re: jbyrd63] #7572925
04/29/22 07:43 PM
04/29/22 07:43 PM
Joined: Nov 2008
Posts: 1,834
Michigan
M
Michigander Offline
trapper
Michigander  Offline
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M

Joined: Nov 2008
Posts: 1,834
Michigan
Prices haven't dropped around here yet but now you are getting double screwed from high price and higher interest. Interest rates are around 5% now. Buying a house at 350k with 2% interest is the same payment as 240k at 5%. 350k at 2% is 1300/month. At 5% its pushing 1900.


Re: Need to buy a house Wait until September [Re: jbyrd63] #7572930
04/29/22 07:50 PM
04/29/22 07:50 PM
Joined: Dec 2006
Posts: 62,661
Minnesota
330-Trapper Offline

trapper
330-Trapper  Offline

trapper

Joined: Dec 2006
Posts: 62,661
Minnesota
Js 8 ball again grin


NRA and NTA Life Member
www.BackroadsRevised@etsy.com




Re: Need to buy a house Wait until September [Re: jbyrd63] #7572941
04/29/22 07:57 PM
04/29/22 07:57 PM
Joined: Dec 2013
Posts: 14,804
Greene County,Virginia
R
run Offline
trapper
run  Offline
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R

Joined: Dec 2013
Posts: 14,804
Greene County,Virginia
September huh?


wanna be goat farmer.
Re: Need to buy a house Wait until September [Re: run] #7572951
04/29/22 08:06 PM
04/29/22 08:06 PM
Joined: Oct 2009
Posts: 7,249
western mn
B
bucksnbears Offline
trapper
bucksnbears  Offline
trapper
B

Joined: Oct 2009
Posts: 7,249
western mn
Originally Posted by run
September huh?

YOU HEARD IT HERE FIRST!


swampgas chili and schmidt beer makes for a deadly combo

You have to remember that 1 out of 3 Democratic Voters is just as dumb as the other two.
Re: Need to buy a house Wait until September [Re: Michigander] #7572952
04/29/22 08:07 PM
04/29/22 08:07 PM
Joined: Feb 2014
Posts: 13,058
Ky
J
jbyrd63 Offline OP
trapper
jbyrd63  Offline OP
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J

Joined: Feb 2014
Posts: 13,058
Ky
Originally Posted by Michigander
Prices haven't dropped around here yet but now you are getting double screwed from high price and higher interest. Interest rates are around 5% now. Buying a house at 350k with 2% interest is the same payment as 240k at 5%. 350k at 2% is 1300/month. At 5% its pushing 1900.

Yea and stock market was up 900 plus YESTERDAY! The things you named is why my prediction will come true ! By September money will run out , people will come to their senses

Re: Need to buy a house Wait until September [Re: bucksnbears] #7572958
04/29/22 08:10 PM
04/29/22 08:10 PM
Joined: Dec 2006
Posts: 62,661
Minnesota
330-Trapper Offline

trapper
330-Trapper  Offline

trapper

Joined: Dec 2006
Posts: 62,661
Minnesota
Originally Posted by bucksnbears
Originally Posted by run
September huh?

YOU HEARD IT HERE FIRST!

I heard it up ^^^ there first grin


NRA and NTA Life Member
www.BackroadsRevised@etsy.com




Re: Need to buy a house Wait until September [Re: jbyrd63] #7572967
04/29/22 08:16 PM
04/29/22 08:16 PM
Joined: Oct 2009
Posts: 7,249
western mn
B
bucksnbears Offline
trapper
bucksnbears  Offline
trapper
B

Joined: Oct 2009
Posts: 7,249
western mn
smile wink


swampgas chili and schmidt beer makes for a deadly combo

You have to remember that 1 out of 3 Democratic Voters is just as dumb as the other two.
Re: Need to buy a house Wait until September [Re: Michigander] #7572975
04/29/22 08:25 PM
04/29/22 08:25 PM
Joined: Dec 2010
Posts: 11,135
Armpit, ak
D
Dirt Online content
trapper
Dirt  Online Content
trapper
D

Joined: Dec 2010
Posts: 11,135
Armpit, ak
Originally Posted by Michigander
Prices haven't dropped around here yet but now you are getting double screwed from high price and higher interest. Interest rates are around 5% now. Buying a house at 350k with 2% interest is the same payment as 240k at 5%. 350k at 2% is 1300/month. At 5% its pushing 1900.


"When the rate of inflation goes up, the fixed-interest rate financing you took out costs you less than when you took out the loan since the dollar has lost some of its value. You’re essentially paying the lender back money that’s worth less than what it was when you took out the loan.

Not only that, but wages and revenues tend to rise during periods of high inflation. So, if you’re making more money but your monthly payments for your financing stay the same, then the payments take up a smaller percentage of your working capital."

If mortgage rates stay under inflation rates, I'm not sure you are paying any interest?


Who is John Galt?
Re: Need to buy a house Wait until September [Re: jbyrd63] #7573002
04/29/22 09:01 PM
04/29/22 09:01 PM
Joined: Mar 2016
Posts: 1,147
Happy Valley
CoonsBane Offline
trapper
CoonsBane  Offline
trapper

Joined: Mar 2016
Posts: 1,147
Happy Valley
Nostradamus strikes again.

Re: Need to buy a house Wait until September [Re: jbyrd63] #7573007
04/29/22 09:05 PM
04/29/22 09:05 PM
Joined: Feb 2015
Posts: 10,470
Iowa
T
trapdog1 Online content
trapper
trapdog1  Online Content
trapper
T

Joined: Feb 2015
Posts: 10,470
Iowa
Good God, Savell. That's just wrong.

Re: Need to buy a house Wait until September [Re: jbyrd63] #7573067
04/29/22 10:10 PM
04/29/22 10:10 PM
Joined: Jan 2019
Posts: 162
Maine
T
Trippin Traps Offline
trapper
Trippin Traps  Offline
trapper
T

Joined: Jan 2019
Posts: 162
Maine
Jbyrd must of read the same apple news article as I did today. Said wait 6-10 months. Economists predicting mortgage rates to hit peak in 1-2 months with a prediction of people who bought houses in the past 1-2 years becoming in financial trouble resulting with more houses becoming available at a more reasonable price.

Re: Need to buy a house Wait until September [Re: jbyrd63] #7573068
04/29/22 10:10 PM
04/29/22 10:10 PM
Joined: Aug 2010
Posts: 10,787
Asheville, NC
C
charles Offline
trapper
charles  Offline
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C

Joined: Aug 2010
Posts: 10,787
Asheville, NC
House near me just had seven showings on the first day, and sold for $70k over asking price. I think it was a cash deal.

Just read that as many as 33% of home sales now are all cash transactions.

Some homes sell right away and others sit vacant for months. A lot depends on updates and open floor plans. They seem to move faster. Some businesses are buying homes to rent.

Re: Need to buy a house Wait until September [Re: jbyrd63] #7573070
04/29/22 10:13 PM
04/29/22 10:13 PM
Joined: Aug 2012
Posts: 9,914
Arkansas
J
J Staton Offline
trapper
J Staton  Offline
trapper
J

Joined: Aug 2012
Posts: 9,914
Arkansas
Fingers crossed. Need a housing crash so lumber will go down. Had a box stand not survive a spin up and I need to build another one.


James 1: 19-20
Re: Need to buy a house Wait until September [Re: trapdog1] #7573073
04/29/22 10:15 PM
04/29/22 10:15 PM
Joined: Dec 2006
Posts: 9,031
Coldspring Texas
Savell Offline
"Wilbur"
Savell  Offline
"Wilbur"

Joined: Dec 2006
Posts: 9,031
Coldspring Texas
Originally Posted by trapdog1
Good God, Savell. That's just wrong.


I know ... pellet smokers are wrong on many levels


Insert profound nonsense here
Re: Need to buy a house Wait until September [Re: Savell] #7573075
04/29/22 10:19 PM
04/29/22 10:19 PM
Joined: Jan 2019
Posts: 162
Maine
T
Trippin Traps Offline
trapper
Trippin Traps  Offline
trapper
T

Joined: Jan 2019
Posts: 162
Maine
Haha
Originally Posted by Savell
Originally Posted by trapdog1
Good God, Savell. That's just wrong.


I know ... pellet smokers are wrong on many levels

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