https://preview.redd.it/pa5vvsgd88v91.jpg?auto=webp&s=f12c84b049be93400fbdda82e8cd9bbdd961ecf5
This aged like fine milk
View Reddit by Stupiditygoesbrrr – View Source
LEARN ABOUT: Investing During Inflation
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
This sub is regarded.
The 2% drop in home prices after the 50% increase really showed him and has him trembling
Home prices went down for cash buyers, not for anyone financing.
Lmfao….ermmm who’s gonna tell OP home prices still really haven’t dropped yet? That’s the problem…
130k —> 300k —> 265k = NOT down
POV: you said that you’re gunna get a car loan so you can commute to work
He said they’ll correct but there’s not going to be a big crash. He’s probably right.
Home prices steady in Detroit
I’m just here to read all the comments from the people who just bought and are trying to justify their purchase at the top of the market.
Supply side is still preventing prices from falling. Supply chain is still messed up and inflation combined with increasing borrowing costs means the lack of new construction is limiting available inventory. No new construction and less homes on the market available to sell means prices remain high. That’s why prices have fallen at about the equivalent of agent’s fee despite rates being around 7%. People who overpaid over the last couple years won’t be selling anytime soon. Remaining homes on the market may reduce prices if sellers are desperate, but overall available inventory is limited.
If someone tells you something is forever, they’re wrong. Run away. Nothing is forever.
the hoomer
I’m in Miami, you know who doesn’t care about mortgage rates? Rich foreigners trying to turn their high-inflation currency into medium-inflation dollars.
Of course he doesn’t want them too. He owns a shit ton of real estate, and God’s plan is for him to get more rich by the minute.
This guy would rather be debt free than rich.
Or at least that’s what he wants for you. He’s fine being rich.
These guys just say whatever they want, they know humans will forget 2 weeks later.
DR is regarded.
This guy’s first book had some great stuff for the middle/lower class folks… Problem is it gave him way too much street cred for all things financial…
When it comes to anything other than making a budget, this guy is a complete fucking idiot.
All real estate is local. I live in a blue collar suburban area and demand is strong, there has not
been a noticable change in price. We also did not appreciate as quickly as some parts of ton
​
In the high priced areas, there has been. But they had lots of air in them.
The first thing to go in a recession are vacation homes, and they take the longest to come back
Ramsey still a hack charlatan a la Cramer.
I feel like home prices haven’t really gone down. Just a bit but nothing out of the ordinary in a normal market. Now this isn’t a normal market and we’re so used to seeing home prices go up, its much more noticeable when they go down a couple percent. I personally feel like the housing market has to correct at some point but I can’t pin point what would cause it. Obviously high interest rates are going to put pressure downward on housing prices but we might just see stagnation. No one wants to move up and people can’t buy for the first time. We may just see flat housing prices but really they’ll be quite a loss in value due to inflation. If we see mass layoffs then we’ll see things change.
Dave Ramsey, what a fucking hustle fraud. “What to save money, buy my program” everytime.
Everyone saying high interest rates will cause the housing market to drop are going to be disappointed when it drops 1-2%.
High interest rates are keeping inventory low, nobody is selling because why lose your 2-3% rate for a new home at 7%. So prices will remain competitive because inventory will stay low and people who need to buy will continue to get into bidding wars
“Listen Jesus is a mortgage broker and you just have to follow in his footsteps” -Dave Ramsey probably
Turns out when you buy at the top you take the L. Typical WSB. My house could drop by 30% and I’ll still make a ton. Just a bunch of whining bc people can no longer be budget Cordones. Who could have guessed that over leveraging yourself on a bunch of properties is a bad idea.
Did they go down? Mine seems fine still? Or is this one of those “wishful thinkings”
Real estate is a long term hold, you don’t treat it like day trading. Either you live in your house, you rent it out or if you are truly blessed it’s a second place to go relax. The interest payments on your mortgage are tax deductible and you only lose if you sell. Either way, if you’re like me, you either pay rent or a mortgage.
Homes like most things are only worth what others are willing to pay. Obviously there’s a ceiling to all things.
Let us not forget, this man fired a single woman for getting pregnant.
Going down? Not in the D.C metro. Might take longer to sell and you can get an inspection, but no discounts here or anywhere I have heard of.
April of this year. You make an offer on a $600,000 house. Because there are 6 other competing buyers, your escalation clause is triggered. You go under contract at $700,000. Congratulations! You pay 10% down ($70k) and your monthly payment at 4.5% interest is $3,865.
Today, you find a house listed at $600,000. It’s been sitting on the market for two weeks and so the sellers are nervous, because they are afraid they’ve missed the boat. There’s only a slow trickle of new buyers looking at it now. You offer $585,000 and get under contract. You pay 10% down ($58.5k) and your monthly payment at 6.5% interest is 3,967…a whopping $100 more than in May.
It’s all a matter of perspective.
Plus, let’s bear in mind that home values appreciated a minimum of 20% over the last two years in most major markets. A 1% pullback over the past few months isn’t something people who bought two years ago are losing sleep over.
Next year, inflation slows or starts to reverse. The Fed starts pulling back on the prime rate. Mortgage rates start to drop. Buyers start coming out of the woodwork because rates are dropping again. Competition increases and we get another imbalance in supply vs. demand. Prices start appreciating. You bought at 6.5% but now rates are back down to 5% so you refinance into a lower rate on the home you didn’t have to enormously overpay for.
Unless you think this market is due for another 2008-like drop. The fundamentals don’t support that thesis, and people have been waiting for that for the last 7-8 years, but good luck on it.
In Australia a house in a shit area still over 1m fuck this shit
They are going to fall 20% in the areas they went up the most. 10% in others. Pandemic Housing Bubble
Compare current sale price to price of home this time of year 2020. Still up big time.