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home prices to drop 6.6% from June 2020 to May 2021


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2020 Jul 7, 9:29am   2,390 views  31 comments

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https://markets.businessinsider.com/news/stocks/us-home-prices-fall-over-next-year-coronavirus-fallout-housing-2020-7-1029373327

US home prices are set to fall over the next year as the coronavirus pandemic continues to slam the economy, according to a report from CoreLogic.

The group predicts that its Home Price Index will slump as much as 6.6% in the 12 months through May 2021, marking the first annual decline since February 2012, as the market grapples with the pandemic recession that began in February.

Thus far, housing has fared well in the coronavirus pandemic. The group's home price index increased 4.8% in the 12 months through May, supported by strong demand, especially from younger buyers, and low supply, according to the report.

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1   Malcolm   2020 Jul 7, 9:37am  

2005 pricing all over San Diego County.
2   Ceffer   2020 Jul 7, 9:59am  

Demonic Realtors have set charges on the Three Gorges Dam, so that 20 million flooded Chinese will engorge the market with demand on the West Coast! Prices will quadruple overnight!
3   joshuatrio   2020 Jul 7, 10:04am  

Stuff down here is selling in just a few days. Not seeing it yet. Stuff in the higher price range $500k + sits longer, but it's always been that way.
4   joshuatrio   2020 Jul 7, 10:09am  

ad says

US home prices are set to fall over the next year as the coronavirus pandemic continues to slam the economy, according to a report from CoreLogic.


Notice they say "set to fall" as in, it's not happening, nor has it happened, but they plan on it happening.

I thought I read a conflicting report somewhere else that real estate was actually going up.
5   Malcolm   2020 Jul 7, 10:13am  

joshuatrio says
I thought I read a conflicting report somewhere else that real estate was actually going up.


In my area, transactions went up dramatically, the bad news is that a lot of them look like foreclosures, and their selling prices aren't going to help the averages.
6   RWSGFY   2020 Jul 7, 10:22am  

Fuck, there goes my $3M.
7   WookieMan   2020 Jul 7, 11:24am  

I haven't looked at the MLS here lately. I know my small town is doing just fine. Coastal areas are probably getting hit a little bit. I don't see it being a nationwide problem though.
8   CBOEtrader   2020 Jul 7, 12:13pm  

Free 3 flats, BYO razor wire
9   just_passing_through   2020 Jul 7, 7:54pm  

I'm starting to see 500ish 3/2 1400ish sq/ft pop up around here in SD. It's been quite a while since I've seen that. There are 2-3 dozen on zillow today where 3 weeks ago there were zero.
10   just_passing_through   2020 Jul 7, 8:20pm  

CoreLogic report I saw today said they believe Las Vegas will fall 20% next year however here in SD they predict only a 1% decline.
11   Malcolm   2020 Jul 8, 9:04am  

What's going to do it is the wave of foreclosures, just like in 2008, only this time it will be due to renter defaults causing borrowers to default, as opposed to last time when it was interest rates resetting that caused borrowers to default. Different cause, same effect.
12   WookieMan   2020 Jul 8, 9:26am  

Malcolm says
What's going to do it is the wave of foreclosures

Banks have learned to work with people from the last housing bust. They lost truck loads of money getting into the vacant property management business. I managed a lot of these homes for years in some cases. Until the end of this month, most people should have no problem paying the mortgage as well. Except maybe someone over leveraged with CC debt and over bought at the highest debt to income ratio they could. They exists, but this is nothing like 2008 at this point.

Not saying it cannot happen again, but everyone I know is still working and all of them are in mortgages that are affordable for their income level. CA might be a different animal I suppose, but here in IL, the vast majority are on solid footing with regards to paying the mortgage. If or when government employees start getting laid off, that's when you should worry. We're a year away from the reduced consumption taxes being felt (sales tax, amusement, etc) as most government budget years are already done.

Large cities are going to be hit the worst. That's part of my tin foil hat theory that I'll eventually lay out if I see a few more dominos fall.
13   Tenpoundbass   2020 Jul 8, 10:21am  

Trump ended Obama momoratorium on Single Family middle class White Folks and will resume building "Neighborhoods" that harbor them.

That will of course mean the return of $125K single family homes.
Expect 10 new boom towns to pop up in America and all of the fortresses loose their dense population, creating housing inventory stock.
I don't think Ben Carson will allow NAR and the local well connected Thugs to play games with the foreclosed ghost inventory and sell it for pennies on the dollar to associated investors. I think we will see return to normal even in the "Fortresses" everywhere in America a house under 1700sq ft wont get a penny over $350K.

In those boom towns, they'll be selling for a third of that. Plus the boom towns will be where all of the work is. So those corrupt California, and Florida towns trying so fucking hard to displace the middle class white folks. Wont be able to prevent them from moving to where they can thrive. Thus will crater the home values there. Couple that with the fact, companies are flee every Blue city to never return ever, the investors will be left holding their dicks in their hands, because nobody is going to give them $5K rent for a shit shack they buy for a $1000 mortgage in a town where the work is.
14   AD   2020 Jul 8, 10:25am  

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Tenpoundbass says
That will of course mean the return of $125K single family homes.


That means home ownership utopia if the median household income is $40,000.

When you say boom towns I think of Henderson, NV a few years back, or Pahrump, NV or Port St Lucie, FL. Those towns had low priced housing compared to household income.

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15   Tenpoundbass   2020 Jul 8, 3:31pm  

ad says

That means home ownership utopia if the median household income is $40,000.


Why do you think America built the worldwide reputation of having the American dream. Home ownership was not out of reach for the average American until Bush and Allen Greenspan decided they had enough of uppity mobile middle class. Owning houses and getting rich day trading.

I think if more people had better options to spend their money on. Americans wouldn't be sold on a service based economy. Pay and pay fees every month, and don't own a damn thing. If people could put that money in a house, most people would still be on a flip phone and or just a landline.

The rise of the Smart phone and more than 90% of Americans being connected to the internet, didn't happen until after the bubble bust around 2007 or so.

I remember even in 2006 many people still weren't on the internet, I would say 80% of my friends and family were still not connected. Nor did they have any desire to be.
Technology fills an empty void where the American dream was absent.

And as we're now finding out, just how anti American IoT technology, and connectivity is. In the back of most users mind we all knew there was something very Big Brother about it.
16   Tenpoundbass   2020 Jul 8, 3:33pm  

I would add, within two years of buying my house in 2010, we cut Cable as we saw no use for it. Not at $200 or more a month.

If I were renting, I'm sure we'd still have cable tv.
17   Blue   2020 Jul 8, 3:49pm  

Tenpoundbass says
I would add, within two years of buying my house in 2010, we cut Cable as we saw no use for it. Not at $200 or more a month.

If I were renting, I'm sure we'd still have cable tv.

No. Anyone can install a decent antenna hangs outside or buy a indoor with a booster to miss less channels.
18   Tenpoundbass   2020 Jul 8, 3:56pm  

Blue says
No. Anyone can install a decent antenna hangs outside or buy a indoor with a booster to miss less channels.


Network television has sucked for as long as people have been justifying their cable bill. I quit watching TV period. Local networks are even dumber. Our local Channel 7 news WSVN is the daily Idiot Report and nothing more. Then every comercial says "Fuck you cracker, kiss my ass and buy this companies shit!"

I can't even get through 15 minutes of watching WSVN news in the morning, trying to catch the weather or traffic. I just turn it off.
19   GNL   2020 Jul 8, 4:41pm  

Tenpoundbass says
Blue says
No. Anyone can install a decent antenna hangs outside or buy a indoor with a booster to miss less channels.


Network television has sucked for as long as people have been justifying their cable bill. I quit watching TV period. Local networks are even dumber. Our local Channel 7 news WSVN is the daily Idiot Report and nothing more. Then every comercial says "Fuck you cracker, kiss my ass and buy this companies shit!"

I can't even get through 15 minutes of watching WSVN news in the morning, trying to catch the weather or traffic. I just turn it off.

I only watch shows that show people doing stuff. Shows like Forged in Fire and shit like that. People who compete or build shit. If it has any bit of personal crap, I won't watch it. Shit like naked and afraid.
20   Tenpoundbass   2020 Jul 8, 5:31pm  

WineHorror1 says
Shows like Forged in Fire and shit like that. People who compete or build shit.

Tons of that on the internet without giving the Discovery Channel commies any advertising dollars.

Youtube is my guilty pleasure. I watch it exclusively on my smart tv.

I watch some cooking stuff,Science and Physics, Electronic building(lots of unemployed idle Asians during the Rona lock down, you can find some awesome amp circuits and other cool stuff. I watch Uncle Doug tube amp rebuilding videos, History videos, some dude with a portable saw mill, that cuts old thick logs only to pour water on the grain and marvel, It's amazing how excited metal detector folks are over a bit of discarded metal trash from the 1970's. I could see if it were bottle caps in pristine condition but this shit is rusted and rotted through. I also like older China and Asian films. Since the CCP came out as Transgender Poo Bears, their movies have gone more Woke and Broke than America did.
As many here may know I've been singing Asian Cinema industry at least since 2015. Their run was from about 2000 to about 2018, then something happened.

I don't like watching Fails, Try no to Laugh, Political Videos, news and dash cam videos on my smart TV, but I do watch those on the computer. And don't watch the videos I like to watch on my smart TV before bed at night, on my computer. Weird that I have two different taste of Youtube videos based on whether I'm at my desk on my computer, vs in bed watching the smart tv.
I
21   GNL   2020 Jul 8, 6:54pm  

Tenpoundbass says
WineHorror1 says
Shows like Forged in Fire and shit like that. People who compete or build shit.

Tons of that on the internet without giving the Discovery Channel commies any advertising dollars.

Youtube is my guilty pleasure. I watch it exclusively on my smart tv.

I watch some cooking stuff,Science and Physics, Electronic building(lots of unemployed idle Asians during the Rona lock down, you can find some awesome amp circuits and other cool stuff. I watch Uncle Doug tube amp rebuilding videos, History videos, some dude with a portable saw mill, that cuts old thick logs only to pour water on the grain and marvel, It's amazing how excited metal detector folks are over a bit of discarded metal trash from the 1970's. I could see if it were bottle caps in pristine condition but this shit is rusted and rotted through. I also like older China and Asian films. Since the CCP came out as Trans...

Ok, some good thoughts. The 1 problem I have is using YouTube. I can't wait for Bitchute to catch up. They don't have nearly enough viddies uploaded yet.
22   WookieMan   2020 Jul 8, 6:59pm  

Tenpoundbass says
I watch some cooking stuff,

Sam the cooking guy would probably be up most people's alley here if you like to cook. Makes it fun. Calls his daughter in a law a bong whore (edit: might be slut) to give you an idea. He's out of San Diego and has a couple restaurants there. Fuck it. Here's the link. Jewish Canadian dude. I don't like the early stuff, but last year or two is good food and funny most the time. https://www.youtube.com/channel/UCbRj3Tcy1Zoz3rcf83nW5kw
23   AD   2020 Jul 8, 7:49pm  

24   Tenpoundbass   2020 Jul 8, 8:28pm  

WookieMan says
Sam the cooking guy would probably be up most people's alley here if you like to cook.


He obsesses too much over sandwiches for my taste. Sandwiches he makes are all about exploring. Stuff you would normally do anyway if you're a foodie. Perhaps he appeals to people that don't know how to cook as much. Then I saw a video the other day, he said his son is his camera guy, and threw in he has a narcissistic obviously overtly gay father.
Then I realized why he's annoying, he's a bitch.

Not my cup of tea, I like BBQ pit boys, but the thumbs up every scene gets old. I'm watching a flurry of Egg Young videos lately. What I've learned is there is no consensus on the right way to make Egg foo young, as they are all different. But I did pick up a great tip even for western style scrambled eggs on one video. Mix a little water or milk with some corn starch, then toss that into the eggs. It makes them rise nice and fluffy and prevents them from burning and browning on the edges.
25   just_passing_through   2020 Jul 8, 9:25pm  

WineHorror1 says
Ok, some good thoughts. The 1 problem I have is using YouTube. I can't wait for Bitchute to catch up. They don't have nearly enough viddies uploaded yet.


They need to get a roku app too. I'm ready to swear off utube forever given their leftist actions. But I'm sort of like 10lb and mostly still watch utube instead. I built a 4 bay bowtie UHF antenna too for about $5 that blows away anything you can buy for under $100. Probably under $500.

I used it for about 5 years and got bored with it. I just used scraps to build it except for the transformer I got at radio shack. RIP.

For movies: http://www.graboid.com/

Spend $25 or whatever they charge these days and download years and years of movies. In one month then cancel. Sign up again in a few years.

For immediate shit: Amazon firestick plus kodi. All the movies you'd ever want on demand, current shit. TV shows. I had no problems with Game of Thrones, WestWorld, Better Call Saul, etc., I even watched some obscure bionic woman shit I saw in the 1st grade. It wasn't at all how I remembered it haha... You have to get a good build and be patient with the servers though. I suspect if I upgraded from the Amazon stick to their puck or whatever it is it would work better. I rarely use it.

Fuck the woke Hollywood, news outlets and the goddamn cable companies! I was hoping to switch to Musk's new satellite offering but it won't be available for people in cities because it won't work for crowded areas. So that sucks.
26   WookieMan   2020 Jul 9, 6:27am  

Tenpoundbass says
I like BBQ pit boys

I don't like the voice over aspect of these guys. I've watched plenty of their vids, but the voice over guy sounds lame and it's annoying. BBQ is also extremely difficult to fuck up even if you don't know what your doing. It's why most towns with 2-5k people all have a bbq restaurants. It's idiot proof for the most part. I know there are BBQ snobs out there, but it's just an act in my opinion. Don't overcook the meat and slap some BBQ on it (oversimplifying obviously).

Tenpoundbass says
Then I saw a video the other day, he said his son is his camera guy, and threw in he has a narcissistic obviously overtly gay father.

Sam and his camera guy (son - Max) are straight as an arrow man. Sam is married, his wife used to be on his videos early on. Max is married to a hipster chick, burning man type pot head. Not my style at all, but if she dressed normal and picked up 5lbs she'd probably look better. Body is important, but that face just doesn't do it for me. The whole burning man thing is just odd, never understood it. Bunch rich kids playing in the desert, right? https://www.instagram.com/imjustjilli/

His kid was just giving him shit. I just like it because it's loose, they swear but it's not in anger like some of the other dumb cooking shows. The fact he even got away with calling his dad gay when he's not and they didn't get cancelled is amazing.

Overall just seems more real like how I'd cook. Burn your hand and say fuck. Or shooting the shit with who you're cooking with, wife, buddies, etc. I don't like that most recipes he does implements some type of Asian ingredients. I usually don't watch it to repeat what he's cooking. More entertainment value and getting ideas to do my own thing.

Nice housing thread though that turned in to cable cutting and talking about YouTubers. lol. (Partially my fault)
27   Tenpoundbass   2020 Jul 9, 7:49am  

WookieMan says
I've watched plenty of their vids, but the voice over guy sounds lame and it's annoying.


But you know about that he he he...
and through the miracle of time....

Yeah it's annoying,
28   Tenpoundbass   2020 Jul 9, 8:02am  

WookieMan says
His kid was just giving him shit. I just like it because it's loose, they swear but it's not in anger like some of the other dumb cooking shows. The fact he even got away with calling his dad gay when he's not and they didn't get cancelled is amazing.


OK you're probably right. I didn't mean to infer that I don't like the show because I think he's gay. Just after that remark,(now I realize it could have been in jest) I thought he was bit of a gay drama queen, so I lumped it into the other reasons I'm turned off by the show.

If you like guys that cook and cuss, have you seen that fat young guy Matty Matheson?
29   WookieMan   2020 Jul 9, 10:03am  

Tenpoundbass says
If you like guys that cook and cuss, have you seen that fat young guy Matty Matheson?

I'll have to look it up.

Not that swearing is important in a cooking show, it's just when shit goes wrong they don't edit it out. Cooking isn't perfection by any means and I hate these "corporate" type cooking shows or YouTubers that have everything perfect. Or they have everything prepared, mix it and then pull a finished product out of the oven. Cooking isn't difficult, but when you have an assistant measure everything out before hand into nice looking glass bowls and you just throw it together, it doesn't feel authentic. Basically it's not cooking like we all have to do.

Overtly gay content is actually okay to dislike. I was just pointing out they're married dudes. I hate hate the last decade or two where content has gone. 2% of the population does not mean every show has to have a gay person in it. Be gay all you want, but stop trying to put it on every show and movie.
30   Bd6r   2020 Jul 10, 2:11pm  

Liberal college for sale: http://www.maltzauctions.com/auction/363014/155-acre-college-campus/

Minimum bid only $3M. A good buy for any Patnetter who wants to create a Jamestown-like cult compound, replete with yams and belt-fed ammunition.
31   B.A.C.A.H.   2020 Jul 11, 4:17pm  

I still haven't seen any news about the April 2020 property tax collection results, how many paid, how many didn't, amount collected versus expected and budgeted for spending.

It's like a Conspiracy of Silence.

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