Real Estate and foreclosure thread

[Casey Jones]

This is fiddling around the edges. No one wants to ask, why is it that the average person cannot afford the average house with the average tax-burden.

The answer is twofold: TOO MUCH GOVERNMENT - constantly growing, NEVER contracting, and needing tax monies. AND...FINANCIALIZATION, all this QE-Infinity, the money-printing, the overnight repo markets, money borrowed into existence, given as demand-deposits to the most-toxic of NGOs and Woke corporations.

Currency debasement leads to vast inequalities of wealth. That's demonstrated all throughout history. We're seeing it, now.

Programs for temporary tax relief, don't address the fundamental problems - as we've seen over the years with California property-tax limitations. They help, short-term. Not long-range - the problem is systemic, and no one wants to address the causations.

 

[searcher]

Homeowners NEGLECTING MORTGAGE PAYMENTS AS REALITY SETS IN​

Feb 10, 2025
A rising number of homeowners, particularly first-time home buyers and military members and veterans, are missing their monthly mortgage payments and the number of people who are 90 days delinquent is climbing fast. The housing market is seeing a big uptick in inventory right now as well as a major slowdown in buyer demand. This is the change that we have all been hoping for.


24:00

 

[searcher]

"I Spent $150K TRYING TO FLIP A HOUSE"…BUT IT DIDN'T WORK!​

Feb 13, 2025

TV shows have made it look way too easy to be at home flipper and it gives people a lot of false courage to go out there and try to replicate what they see on TV. Only to find out that being at home flipper is far more challenging than most people realize until they are knee-deep in it, and it is too late. If you don't know what you're doing, you can lose a lot of money attempting to flip the house and some people unfortunately need to learn that lesson the hard way. But here's how you can avoid that.


23:41

 

[Fatrat]

Watching prices drop in Florida is fun, wonder how much the market will puke...

 

[Voodoo]

Florida is ground zero for this crash. You can already see some pretty nice houses and not bad prices.

 

[pmbug]

 

[Voodoo]

They know what's coming. Fannie Mae has been making a big push for appraisals to make time adjustments. Mandated it start like Feb 4 or some BS. The evidence and graph they put out as an example however, is laughably stupid.

 

[searcher]

Over 60? How to Sell Your Home: Rules Have Changed! (Ultimate Guide)​

Feb 20, 2025

Here is the ultimate guide to selling a house in your 60s or into retirement.


37:33

 

[searcher]

30-Year Fixed Rate Mortgage Average in the United States

View data of the average interest rate, calculated weekly, of fixed-rate mortgages with a 30-year repayment term.

fred.stlouisfed.org

 

[searcher]

ICE: Mortgage Delinquency Rate Decreased in January

From ICE: ICE First Look at Mortgage Performance: Foreclosure Starts Jump as VA Moratorium Ends; Wildfire Delinquencies Emerge • Delinquenc...

www.calculatedriskblog.com

 

[pmbug]

 

[Voodoo]

part of that is simple demographics. There are more 56 year olds now than 30 year olds. So median will be skewed by overall age demographics.

 

[pmbug]

 

[Casey Jones]

I have to wonder what those 56-year olds WANT with a home.

Home ownership is, never having to say, I've got nothing to do. Which is great when you're 25 and full of energy. Shoveling the walks when the temperature is below 0, or fighting to start the snowblower...or, if you're really well off, PAYING someone to do those chores...rake the leaves, cut the grass, prune the hedges...it's easy to see why people that age start moving into Senior Communities.

I suspect part of this is, the demand was pulled forward in 2021, with all the Free Money; and also, the rise in interest rates, keeping those closer to the cutoff-line, away from trying to swing it. The poverty of the under-40 cohort, and their failure to start families, also is driving this.

 

[Voodoo]

They want appreciation. they probably have 3 and think they are fantastic investors.

 

[Viking]

I have to wonder what those 56-year olds WANT with a home.

Home ownership is, never having to say, I've got nothing to do. Which is great when you're 25 and full of energy. Shoveling the walks when the temperature is below 0, or fighting to start the snowblower...or, if you're really well off, PAYING someone to do those chores...rake the leaves, cut the grass, prune the hedges...it's easy to see why people that age start moving into Senior Communities.

I suspect part of this is, the demand was pulled forward in 2021, with all the Free Money; and also, the rise in interest rates, keeping those closer to the cutoff-line, away from trying to swing it. The poverty of the under-40 cohort, and their failure to start families, also is driving this.

I’m older than 56 and have three homes and live on a boat. LOL.