Home Forums Hunting & Shooting Hunter's Campfire Future home prices?

With covid19 and people out of work.
What will happen with pricing of homes?
Another 2010 melt down?
I’m in middle of refi and maybe heloc to have $ on hand to buy another house.
What you guys think ?

i was just told this morning that a major national title co just furloughed about half it's staff if thats any indication

Good deals on houses and land mean nothing if you have to pay $1K or more a month in taxes.
Wait 'till the states, towns and counties re-assess this debt.
Ha.

😖 timing is everything.
I bought a new one a month ago
gonna sell the current one soon

If interest rates keep going lower, I don’t see a melt down. There’s not much cost to holding real estate at 1%.

I reckon the market is going to get saturated with foreclosures again, and prices will drop. At least for a while.

I closed on my current house exactly 5 years ago today.

I had to fight with my lender to have a 30 year fixed as all they wanted to sell me was an ARM because "You can get so much more house!"

I don't know what values will do in the near term but I don't doubt that a ton of borrowers learned nothing from the last housing crisis.

Actually - there's a house I pass regularly on my way to the little woman's. Love the place and location - they just lowered the price 900 bucks. It's a 700,000 dollar house. 900 isn't moving a disinterested buyer into the fray....

I watch pretty closely and for now the market just seems frozen in place.
It's new turf we're tilling, hard to say what might happen but it's always good to ready to jump if opportunity were to come your way.
I think a lot might be done to prevent a crash like before...

yeah, nobody working, how the heck they gonna pay their mortgage...families can't print money like the Feds can...housing will get crumbled.

There are a lot of things that can and will be done.
I don't think people need to start worrying themselves about loosing their homes.
We're gonna get beyond this.....

I think segments might get hit, but the rates are so friggin low that renting is a last resort. Foreclosures will be quite delayed anyway.

This is going to be a rough few months, I don't expect people will be loosing their houses and thrown out on the street. The government has stepped in and waived the 2 week waiting period for unemployment, added $600 a week to what the state pays, added a 1200 kicker, and most mortgage companies are allowing you to skip payments and add it to the end. Will it be tough, yes. Will we get over it soon, I think so. There is a ton of cash being thrown at this to help people businesses, it't not perfect but I think it's a good start and a good move.

No payment of mortgages means no payment of taxes through escrow.
Oh boy, here it comes.

Who is the only entity that can use the full force of law to collect debts? The .gov!

cash that does not exist

Oh, it does. They make it through electronic magic and printing presses.

It means what you and I have now just became worth MUCH less than when we earned it.

Don't forget; we get to pay it back with compound interest and penalties

Commercial real-estate might get slaughtered.

I can't see why the bottom won't fall out again and then pick up as the economy rebounds. I don't owe anyone anything besides the government and see no reason to bail anyone out. I worked my azz off for 40+ years to get where I'm at and I don't want no damn government handout. As a matter of fact if the government would get the he'll out of the way, I'd work myself out of this bs.

Property valued based on income?

You can bet on it.

Think they will add corona virus to list of required disclosures?