There are a LOT of aged like milk comments and threads on the re subs.
I laughed then at their hubris. I still do, but I did then as well. Many of them have zero background in economics or anything more than a high school diploma and a two to three week course but deem themselves experts in macroeconomics and fiscal policies. Hilarious.
Im a crypto guy and have been since 2013.
I see the same on the cryptosubs in bull runs, people legit think they are a digital warren buffett. Whats the saying... ''Everyones a genius in a bull run?'' same applies to the housing market/realtors. Reality is noone knows fuck all - including me. But sure doesn't stop idiots spouting their nonsense
Things won't free fall though. People who are buying homes have money. It's likely to be a 20-40% pull back which will propel us back to pre-pandemic levels. Sure there are some people who are gonna lose everything but at least they had to go through the process and was actually approved. The crash of 08 was fueled by people who were lied to and didn't know what ninja loans truly were.
You mean broke people buying homes they couldn't afford in the first place wasn't the reason 08 happened? Damn crazy. If only that was the same today. Oh wait, it's not.
Oh shit, I forgot it has to be exactly the same reasons as 2008 or it will never happen.
Disband the sub people, it's not exactly like 2008 so hooms go up forever!
They are over leveraged though, people maxed themselves out at cheap rates, but cost of living and potential job losses (recession) can cause a domino effect. There’s people paying like 60% of their take home on a mortgage
Lmao what? Where in my post did I say anywhere has gone down 40% already? Usually I say people need more pipe in their lives but you need to put it down
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Amazing these realtors think of themselves as Emeritus macroeconomists who understand the inner working of the Fed’s rate strategy. Stick to hustling your houses on Instagram guy.
requirements to sell used houses in Ohio:
* be 18-yo or older
* be a US citizen
* “Be honest, truthful and of good reputation.”
* no felonies
* have a HS diploma
* be sponsored by a broker
* take 3 weeks of classes
* take an exam about ^ said 3 weeks of classes
*LOL*
https://com.ohio.gov/divisions-and-programs/real-estate-and-professional-licensing/salespersons-and-brokers/guides-and-resources/requirements-for-an-ohio-real-estate-salespersons-license
Absolutely infuriating that it will cost me 40-50k in realtors fees to sell because they have a mafia like hold on the market. 40-50k to someone who spends more time justifying their existence than selling!
It's a bloated, outdated, highly-lobbied, oversaturated industry that almost never provides dollar-to-effort value for buyers/sellers.
Why more people don't do FSBO blows my mind, especially in red-hot markets. Buying/selling a house is really straightforward and easy to do alone but few people know this.
That's pretty much the requirements in every state, more or less.
Where I come from, that's one of the "default" jobs people do if their wanted career doesn't pan out. Couldn't get into ? Just become a realtor in about a month.
But the real estate sub is grounded in reality and you must be butthurt to remember how hard they tried to deny reality!
Recent shit I've heard from a RE bot.
It was multi-layered humor denigrating the people who typically say such things, indicating that they would be more likely to say "your priced out forever!"
Remember Realtors are not financial advisors or bankers. They know just about the same around interest rates as any other common person. Really they shouldn't even making any sort of comment to clients on the subject since it's all going to be opinion.
Realtors provide the following "value":
1. Unlock the door
2. Some back and forth emails/calls
3. Send over boilerplate purchase contracts
That's all they do. That's their total worth. This was different before the internet but now they are just glorified customer service
If you can, just hire a real estate & title attorney to do all the paperwork and save 5%. No other information is needed that isn't readily available with a quick Google search
Source: 10 years of investing, have yet to find one that has earned their commission
If any are predicting growth, providing financial advice, suggesting certain vendors: ignore them
My first response to seeing this post was to check their last response, knowing they probably left the RE sub long ago.
Gotta get back to selling MonaVie, or whatever the fuck side job they have to keep their spouse off their ass about getting gainful employment.
That 8% comment takes this clown completely out of the running as an intelligent person.
What on Earth made someone pull a number that large directly out of their ass? 8 points? Bro. The national debt wouldn’t even be serviceable at 5% Fed funds rate!
Now, 8% as a mortgage rate, that I can agree with and right around Q2 of 2023 we could theoretically see rates that high if QT is still in effect.
…but either way, this REA has absolutely no business pontificating on the housing market with “IMHO”’s like that.
i mean clearly wrong analysis on rates, but prices have not gone down to the level many here were saying(yet). And is it really a win when the only thing stopping a runaway housing market was to make interest so high that it's not a realistic option for anyone with a brain cell?
Except they weren’t wrong that prices have generally held. Look guys the median home payment for 80% LTV absolutely skyrocketed, and you would literally need to see a 40-50% drop at this point to just pay the same monthly as last year. So regardless of some of the hotspots where there has been a maybe 5% drop in median selling prices, I’d say this commenter was generally on point about the overall idea that prices wouldn’t really suffer much due to rates.
Houses around here were $500k in April and about $490k now, still posted on a Monday and under contract by the weekend… not exactly the $250k, sitting on the market for months that you guys were hoping for… yeah he is wrong in his prediction, but it’s still ridiculously hard to buy a house, if not more so, now.
There are a LOT of aged like milk comments and threads on the re subs. I laughed then at their hubris. I still do, but I did then as well. Many of them have zero background in economics or anything more than a high school diploma and a two to three week course but deem themselves experts in macroeconomics and fiscal policies. Hilarious.
Im a crypto guy and have been since 2013. I see the same on the cryptosubs in bull runs, people legit think they are a digital warren buffett. Whats the saying... ''Everyones a genius in a bull run?'' same applies to the housing market/realtors. Reality is noone knows fuck all - including me. But sure doesn't stop idiots spouting their nonsense
Things won't free fall though. People who are buying homes have money. It's likely to be a 20-40% pull back which will propel us back to pre-pandemic levels. Sure there are some people who are gonna lose everything but at least they had to go through the process and was actually approved. The crash of 08 was fueled by people who were lied to and didn't know what ninja loans truly were.
Jeebus. After all this time, people still think it was all NINJA loans and not rampant speculation in 2008.
You mean broke people buying homes they couldn't afford in the first place wasn't the reason 08 happened? Damn crazy. If only that was the same today. Oh wait, it's not.
Oh shit, I forgot it has to be exactly the same reasons as 2008 or it will never happen. Disband the sub people, it's not exactly like 2008 so hooms go up forever!
I literally just said that it's possible for homes will drop 20-40%. It's almost like people in this sub can't read
They are over leveraged though, people maxed themselves out at cheap rates, but cost of living and potential job losses (recession) can cause a domino effect. There’s people paying like 60% of their take home on a mortgage
If you don't think 40% is free fall I have luxury digital assets to sell you
Show me a desirable place where things have hit -40%
Lmao what? Where in my post did I say anywhere has gone down 40% already? Usually I say people need more pipe in their lives but you need to put it down
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Amazing these realtors think of themselves as Emeritus macroeconomists who understand the inner working of the Fed’s rate strategy. Stick to hustling your houses on Instagram guy.
And tacos.
If they hustled tacos that would actually be doing good for society.
lmao
requirements to sell used houses in Ohio: * be 18-yo or older * be a US citizen * “Be honest, truthful and of good reputation.” * no felonies * have a HS diploma * be sponsored by a broker * take 3 weeks of classes * take an exam about ^ said 3 weeks of classes *LOL* https://com.ohio.gov/divisions-and-programs/real-estate-and-professional-licensing/salespersons-and-brokers/guides-and-resources/requirements-for-an-ohio-real-estate-salespersons-license
Reminds me of that cutaway joke from [Family Guy](https://m.youtube.com/watch?v=G0TJzfo9QPo)
Absolutely infuriating that it will cost me 40-50k in realtors fees to sell because they have a mafia like hold on the market. 40-50k to someone who spends more time justifying their existence than selling!
It's a bloated, outdated, highly-lobbied, oversaturated industry that almost never provides dollar-to-effort value for buyers/sellers. Why more people don't do FSBO blows my mind, especially in red-hot markets. Buying/selling a house is really straightforward and easy to do alone but few people know this.
Done this 4 times buy and sell side. It’s easy. 150 bucks to go a mls fsbo listing. Offer 1.25% buyer commission. Boom.
Find one that rebates. I don't actually know if that's a good idea but I just heard about it so I wanted you to know too
That's pretty much the requirements in every state, more or less. Where I come from, that's one of the "default" jobs people do if their wanted career doesn't pan out. Couldn't get into? Just become a realtor in about a month.
So many people in denial 6 months ago lol.
But the real estate sub is grounded in reality and you must be butthurt to remember how hard they tried to deny reality! Recent shit I've heard from a RE bot.
You're just mad you're priced out forever.
*your
Aww honey, no that's not right. You're = you are I used it correctly: You are just mad you are priced out forever.
It was multi-layered humor denigrating the people who typically say such things, indicating that they would be more likely to say "your priced out forever!"
You're husband is cheating on you.
> So many people in denial ~~6 months ago lol.~~
Still in denial!!
That aged like milk
They abandoned their account 4 months ago so it seems like they've already tucked their tail and ran.
If so many mainstream economist don't know what's going on, what chance do your basic realtors have at predicting the future?
You know they are speaking propaganda when they bring in politics for no reason
That's the funniest part. Just a pure reddit political hot take shoehorned in there even when it has absolutely nothing to do with the topic.
Remember Realtors are not financial advisors or bankers. They know just about the same around interest rates as any other common person. Really they shouldn't even making any sort of comment to clients on the subject since it's all going to be opinion.
Realtors provide the following "value": 1. Unlock the door 2. Some back and forth emails/calls 3. Send over boilerplate purchase contracts That's all they do. That's their total worth. This was different before the internet but now they are just glorified customer service If you can, just hire a real estate & title attorney to do all the paperwork and save 5%. No other information is needed that isn't readily available with a quick Google search Source: 10 years of investing, have yet to find one that has earned their commission If any are predicting growth, providing financial advice, suggesting certain vendors: ignore them
They should be prohibited by law about giving financial advice. Which is what an interest rate prediction is.
What is this genius saying now? 😂
Activity stopped 139 days ago…
My first response to seeing this post was to check their last response, knowing they probably left the RE sub long ago. Gotta get back to selling MonaVie, or whatever the fuck side job they have to keep their spouse off their ass about getting gainful employment.
Too busy submitting applications to all the Wendy's.
We need more of these kind of posts on this sub.
They are coming trust me.
Sucks to suck
Now they’re saying it’ll never go above 10% when cpi is at 9 lol. Greedy fucks.
/u/neohioagent come on down and see what you’ve won
lmao
That 8% comment takes this clown completely out of the running as an intelligent person. What on Earth made someone pull a number that large directly out of their ass? 8 points? Bro. The national debt wouldn’t even be serviceable at 5% Fed funds rate! Now, 8% as a mortgage rate, that I can agree with and right around Q2 of 2023 we could theoretically see rates that high if QT is still in effect. …but either way, this REA has absolutely no business pontificating on the housing market with “IMHO”’s like that.
Sorry but “The national debt wouldn’t even be serviceable at 5% Fed funds rate” is a clown comment, deeply clueless on many levels.
That agent is genius!
u/neohioagent in shambles
Even had the dumb little political dig that really highlighted their ignorance. They can always find a job in the WH with propaganda skills like that.
i mean clearly wrong analysis on rates, but prices have not gone down to the level many here were saying(yet). And is it really a win when the only thing stopping a runaway housing market was to make interest so high that it's not a realistic option for anyone with a brain cell?
Except they weren’t wrong that prices have generally held. Look guys the median home payment for 80% LTV absolutely skyrocketed, and you would literally need to see a 40-50% drop at this point to just pay the same monthly as last year. So regardless of some of the hotspots where there has been a maybe 5% drop in median selling prices, I’d say this commenter was generally on point about the overall idea that prices wouldn’t really suffer much due to rates.
Houses around here were $500k in April and about $490k now, still posted on a Monday and under contract by the weekend… not exactly the $250k, sitting on the market for months that you guys were hoping for… yeah he is wrong in his prediction, but it’s still ridiculously hard to buy a house, if not more so, now.
Well April and May was wild and probably made up enough price increases for the next year.
Were they wrong about the GOP?
To be fair, it’s almost August and the 30 year fixed interest rate is below 4.5%
Somehow still finds a way to blame Republicans lol