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/biz/ - Business & Finance

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53485782 No.53485782 [Reply] [Original]

What's the deal with retards like pic related that INSIST that the house market is about to crash any second now?

>> No.53485899
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53485899

>>53485782
Why are you obsessed with what niche internet celebrities have to say about economics? 99.9999% of people have and will never hear or be influenced by Nick’s predictions. Are you a child? Do your research on global trends and your local economy to form your own opinion, you dolt.

>> No.53486015

>>53485782
What's the deal with retards like OP that INSIST that the house market will go up forever?

>> No.53486097

>>53486015
Hope is the worst addiction you could have

>> No.53486152
File: 52 KB, 931x490, Fed Interst rate.png [View same] [iqdb] [saucenao] [google]
53486152

It is though. Housing prices trail interest rates by about 12 months. Interest rates were set at 0% by Fed for more than decade, then they finally raised them now to 5% and growing over the past 8 months.

It was the #1 catalyst of the 2006 housing crash and the same is repeating today. Not many people can afford a 6%+ mortgage. Home owners are sticky so they are just leaving their houses on the market for months instead of budging on price, but it all comes crashing down in time

>> No.53486169

>>53485782
Nick is based and also smarter than you. Leave him alone >:(

>> No.53486205
File: 95 KB, 1280x720, GANDALF.jpg [View same] [iqdb] [saucenao] [google]
53486205

He is definitely not a retard and knows a lot about houses. However, it will only drop 10-15% as a correction. It won't collapse like in 2008. If you've been paying attention you would realize the prices were falling down since last year. But again it is a slow decrease, it won't happen overnight.

>> No.53486226

>>53485782
prices are inflated such that average prospective homeowners can no longer afford homes. it's just techfag refugees and current homeowners playing musical homes at this point, although that's largely dying off because few people want to trade a 3% rate for a 6.5% rate. literally the price of "owning a home" has gone up over the past 2 by 50-100% in most of the country.

i know this is hard to comprehend or accept, considering you are likely a wagie poorfag with 95% of his net worth tied up in a plywood box purchased on a 96.5% LTV, 30 year loan within the last 24 months, but it's the truth of the matter.

>> No.53486262

>>53485782
he got drunk and took a bet with his fren
if his hair falls out before the housing market crashes he has to wear the kneepads

>> No.53486271

>>53485782
lol Mr. MDE side character has more experience than you and somehow you think you've got it more than he does?

>> No.53486274

>>53486226
>It will correct itself because it will!
Do you see anyone protesting or going against it? Wagies accept this new reality and it will continue as oppressive regime controlled the humanity for thousands of years. The only question is whether you will be a wagie or a rule. Odds are 1% against 99%.

>> No.53486289

>>53486226
https://ycharts.com/indicators/us_existing_home_median_sales_price

12/2020 ~3% rates and ~$310k median sale price with 10% down yields $1176/mo
01/2023 ~6.25% rates and ~$367k median sale price with 10% down yields $2032/mo

72% increase over the past 2 years
>muh inflation
nowhere near 72%

>> No.53486303

>>53486271
He's an out of touch Boomer and most importantly a bullshitting salesman . He'll be Dave Ramsay tier in the next 5 years.

>> No.53486315

>>53486303
So 5 years from now he will be wrong. What does that mean 1 year from now? Lol dumb ass

>> No.53486319

>>53485782
Why do you care, faggot?

>> No.53486336

>>53485782
It has been crashing but not enough because current prices + higher rates are more expensive then the price peaks.

>> No.53486343

>>53486274
>Do you see anyone protesting or going against it?
fewer people are buying, look at sales volume. fewer people are qualifying for buying. people will always need to move for the usual reasons: death, divorce, work relation.

as usual, our nigger retard government is incapable of assembling useful statistical information (existing home sales volume only goes back like a year) but i would say that we are returning to baseline (non-euphoric) sales activity and we should expect prices to drop accordingly. not a crash, but i'm guessing 15-20% decline over a period of 2 years -- similar to what some large banks are forecasting.

some banks beginning to tighten cash out refinance to 75% LTV rather than 80% LTV or even 90% LTV during the peak of the euphoric stage should tell you everything you need to know.

>> No.53486344

>>53485782
>retards
the answer lies within the question.

>> No.53486354

>>53486315
>What does that mean 1 year from now?

That he'll still be wrong.

>> No.53486360
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53486360

>>53486343

>> No.53486391

>>53486354
pure cope nigga

cant believe you retards actually bought the covid rally

>> No.53486401

>>53486391
>assuming I give a shit about COVID

You just outed yourself as a goy nigger

>> No.53486448
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53486448

>>53486343
>>53486360
oh wait i found a better graph. yeah, it's unironically over for anyone who bought within the past 2-3 years. lmao. we're at post-2008 volume despite a ~10% increase in total US population relative to then.

>> No.53486489

>>53485782
They read shit like Zero Hedge and take it seriously.

>> No.53486509

>>53485782
https://www.youtube.com/watch?v=u-LwMdaPtZA

>> No.53486546

>>53485782
I like when they talk about growing up rich but how they felt poor because they were the poorest rich kids.

>> No.53486588

>>53485782
Nick is based
Helping zoomers not permanently fuck up their lives saving them years of suffering. What the fuck have (YOU) done faggot
Eat shit and die

>> No.53486623

>>53486588
Not be an attention starved E-celebrity targeting Zoomies that have had no strong male role models

>> No.53487704

I'll teach you to steal my mother's shit you fuckin crack pig

>> No.53488059

>>53485782
>New england Italian guy who worked construction and sells cars
His work experience may give him some insight into regular American finances but in MMT clownworld, I don't know the sky from my arse.

>> No.53490022

>>53486623
thats not a bad thing Tbh, have you seen the streamers from twitch? that faggot CQC or whatever cant even form a proper sentence, totally braindead

>> No.53490086

>>53490022
cum dick id