Housing market

[Wizard of Ozz]

I think it's more fundamental than even that -- prices were too high, and people do not have jobs with wages to buy them. Blackrock has sold a lot of their homes over the last 2 years because contrary to what people think, they only care about yield.

There will never be any price correction big enough to fix what all the doomer videos and pundits keep yapping about. Never ever never. Period.

Building materials, labor cost, insurance cost, and land prices are only increasing. Depending on your area, there maybe be a small 5-10% cut... in my area prices are still up + 5-10% over LY.

These same moron real estate doomers have been posting about the huge mortgage rate cut that has been just around the corner for the last 5 years. Rates are not going down either.

People no longer go to college to get educated... they want to hang out, get high, post on social media, study their gender and expect the government or their parents to take care of them forever. This also explains the declining US birth rate over the last 50 years.

Most people 20-30 years old are too dumb to support themself... how can they support a family and/or pay for a house?

This is why you also see these same doomer talking heads pushing how wonderful renting is... you can throw your money down a shit hole for 30 years and have shit to show for it.

Blackrock and Black-Stone (same company) have also continued to buy a lot of homes over the last 2 years as well.

 

[BABMusic]

They can also afford to weather the storm and own more.

Sure, that's true. I guess it will depend on how much money they are losing and if the area they are holding is an area that they believe will stay in strong demand. I know Blackrock was letting go of lots of homes in Texas last year. Not sure about right now.

 

[BABMusic]

There will never be any price correction big enough to fix what all the doomer videos and pundits keep yapping about. Never ever never. Period.

Building materials, labor cost, insurance cost, and land prices are only increasing. Depending on your area, there maybe be a small 5-10% cut... in my area prices are still up + 5-10% over LY.

These same moron real estate doomers have been posting about the huge mortgage rate cut that has been just around the corner for the last 5 years. Rates are not going down either.

People no longer go to college to get educated... they want to hang out, get high, post on social media, study their gender and expect the government or their parents to take care of them forever. This also explains the declining US birth rate over the last 50 years.

Most people 20-30 years old are too dumb to support themself... how can they support a family and/or pay for a house?

This is why you also see these same doomer talking heads pushing how wonderful renting is... you can throw your money down a shit hole for 30 years and have shit to show for it.

Blackrock and Black-Stone (same company) have also continued to buy a lot of homes over the last 2 years as well.

I am not saying I disagree with you on most of this, and I actually think you could be right. The only thing I'll add though is that, building materials and labor costs were actually much higher during the last crash than what homes sold for. Just for fun, I looked at the price history of my mother's home that she bought in 2021. She paid $279,000 for her 3-bedroom with a nice basement. That same house sold for $49,000 in 2011! I'm absolutely sure that it would have cost a lot more than $49,000 to build the same house in 2011. Probably would cost $150,000 minimum.

It also depends a lot on the area. Some areas have already gone down quite a bit, while others have not. I know for sure that the government does not want prices to fall, but does that mean they will be successful? I don't have the answer yet.