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/biz/ - Business & Finance

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52646517 No.52646517 [Reply] [Original]

i bid 40% below listing for houses and 50% below listing for high end cars. not because i think people will accept, but to get a counter offer so i can get a feel for what the market situation is actually like.

many have been willing to accept 20% below listing for houses and up to 35% below listing for expensive cars

>> No.52646600

Every housing crash plays out the same way. Starts with boomers being too stubborn to sell in what they believe to be a short downturn and after about a year when people are losing jobs and are forced to sell it becomes a race to the bottom. These crashes are a necessary evil, otherwise young people would never be able to afford owning anything

>> No.52646651
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52646651

>>52646600
As a seller who missed the top, is this a smart play?
Home equity loan to buy new house. Rent out old house for a couple years until market recovers and then sell.

>> No.52646712

>>52646517
based dataminer

>> No.52646772

>>52646651
After 2007 it took 5 years for the market to bottom before it started to slowly recover. We are still in the denial phase where a lot of sellers are thinking exactly what you are thinking. If you plan on holding you better expand your timeline because the top price you saw last year or even today will not be reached again for another 10-15 years

>> No.52646996

>>52646651
This sounds like a horrible idea

>> No.52647149

>>52646651
the housing market moves in slow motion compared to stocks. in 2 years we might be half way to the bottom, so not a very good plan

>> No.52647677

>>52646772
This time it's different because inflation. It may take 10-15 years to reach the same inflation adjusted price but it won't dip in nominal price longer than 5 years. Look what happened with home prices in 70s

>> No.52648832

I am seriously looking at writing up a State Initiative to add a 5% sells tax on all corporations that buy a single-family home. In the last 2 years, over 30% of single-family homes were bought by corporations.
>corporation sees 100k home for sell
>they pay 105k
>a family pays 100k
Will it stop all corporations from buying? no, but it will slow then the fuck down.

>> No.52648882

>>52646517
og my gawd that dog is precious

>> No.52648895
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52648895

>>52646772
>because the top price you saw last year or even today will not be reached again for another 10-15 years
What's more is that is a nominal value. The real value of those dollars might never recover.

>> No.52648957

>>52646651
you are assuming rental prices wont collapse in the coming year. Massive housing developments and apartment complexes started in 2020 are now coming to market. The rental market is going to collapse. I already am seeing many multi family small homes going on the market trying to front run it. Literally every town in my state has giant mixed use developments taking place full of 1000s of new apartments.

>> No.52648978

>>52648957
>Literally every town in my state has giant mixed use developments taking place full of 1000s of new apartments.
I'm excited about this. I might always get the shortest leas so I can jump into a cheaper apartment ever 6 months. Moving does suck.

>> No.52649015

>>52646517
Post the full webm, the owner is black.

>> No.52649100
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52649100

>>52646600
double dubs of truth.

>> No.52649173

>>52646600
The top was 2006 last time. It took two years for the crash to start. We have about a year and a half before the stubbornness of boomers fails and the fear of the crash starts.

>> No.52649431

>>52648957
I'm seeing a lot of rent houses in my poorfag price range in DFW staying on market for months. A year ago there was nothing.

>> No.52649659

>>52649015
That makes it even more based.