TVScout Posted October 17, 2018 Share Posted October 17, 2018 Or you could wait a few years til the after the current bubble bursts. Quote Link to comment Share on other sites More sharing options...
Tetsujin Posted October 17, 2018 Share Posted October 17, 2018 16 minutes ago, TVScout said: Or you could wait a few years til the after the current bubble bursts. That's kinda what I'm thinking. If I can sell high in 2020, do some traveling and work overseas for 1-2 years, that might work out for me. Hopefully it doesn't burst before I sell. Quote Link to comment Share on other sites More sharing options...
BayRaider Posted October 17, 2018 Share Posted October 17, 2018 48 minutes ago, TVScout said: Or you could wait a few years til the after the current bubble bursts. I was gonna say this but I don’t wanna prevent the guy from buying a house based on my beliefs. I think itll happen in 2021 actually. Every house minus 40 percent. 1 Quote Link to comment Share on other sites More sharing options...
MKnight82 Posted October 17, 2018 Share Posted October 17, 2018 34 minutes ago, freak_of_nature said: That's kinda what I'm thinking. If I can sell high in 2020, do some traveling and work overseas for 1-2 years, that might work out for me. Hopefully it doesn't burst before I sell. I was just at a real estate conference and the speaker was a economist, he projected a recession to hit 4th Q 2019 or 1st Q 2020. Real Estate generally lags behind the general economy so property values could be hit mid 2020 if this were to occur. Quote Link to comment Share on other sites More sharing options...
vike daddy Posted October 17, 2018 Share Posted October 17, 2018 22 hours ago, MKnight82 said: It doesn't drop automatically, but if you call them you can have it removed. that's exactly correct. Quote Link to comment Share on other sites More sharing options...
TVScout Posted October 18, 2018 Share Posted October 18, 2018 22 hours ago, BayRaider said: I was gonna say this but I don’t wanna prevent the guy from buying a house based on my beliefs. I think itll happen in 2021 actually. Every house minus 40 percent. If a person finds the dream house and has the where with all to acquire it there is no debate. A perfect home is almost a unicorn. Quote Link to comment Share on other sites More sharing options...
theJ Posted October 18, 2018 Share Posted October 18, 2018 22 hours ago, BayRaider said: I was gonna say this but I don’t wanna prevent the guy from buying a house based on my beliefs. I think itll happen in 2021 actually. Every house minus 40 percent. 40 percent would be huge, but i don't think anyone should not buy a house because of that suspicion. You'll be waiting forever, because the market never just goes up forever and always. If you're in it for the long haul, corrections hurt in the short term and aren't a factor in the long term. If you're buying and only holding for a few years you should give it some thought. But honestly that kind of thing will drive you crazy, and the market is the market. The same rules apply as investing. Don't overextend yourself, stay inside your budget, and have a good enough downpayment that you aren't underwater if the market dips 10%. 1 Quote Link to comment Share on other sites More sharing options...
MikeT14 Posted October 18, 2018 Share Posted October 18, 2018 Write a letter to the homeowners. 1 Quote Link to comment Share on other sites More sharing options...
MKnight82 Posted October 18, 2018 Share Posted October 18, 2018 3 hours ago, theJ said: 40 percent would be huge, but i don't think anyone should not buy a house because of that suspicion. You'll be waiting forever, because the market never just goes up forever and always. If you're in it for the long haul, corrections hurt in the short term and aren't a factor in the long term. If you're buying and only holding for a few years you should give it some thought. But honestly that kind of thing will drive you crazy, and the market is the market. The same rules apply as investing. Don't overextend yourself, stay inside your budget, and have a good enough downpayment that you aren't underwater if the market dips 10%. 40% is not going to happen. 40% is what most of the worst markets saw from peak 2007 to 2009. Most smaller markets didn't experience that big of a hit, and that was the biggest market correction we will likely see in our lifetime. The next recession will be much tamer. The economy is too strong with extremely low unemployment rates and FINALLY some wage growth. Like you said, no one should be letting the risk of the next recession from buying right now. IN FACT, people should be buying now before interest rates go up even more (and they will, probably once more in 2018 and 3 more rate hikes in 2019). 2 Quote Link to comment Share on other sites More sharing options...
TVScout Posted October 19, 2018 Share Posted October 19, 2018 (edited) The smartest guys in the world.....: Edited October 19, 2018 by TVScout Quote Link to comment Share on other sites More sharing options...
TVScout Posted October 19, 2018 Share Posted October 19, 2018 Don't worry Just be happy 1 Quote Link to comment Share on other sites More sharing options...
theJ Posted October 19, 2018 Share Posted October 19, 2018 37 minutes ago, TVScout said: Don't worry Just be happy my question to this kind of analysis is always this: have you shorted (or will you short) the market? Because if you're so sure, you will make a fortune. Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted October 19, 2018 Share Posted October 19, 2018 4 minutes ago, theJ said: my question to this kind of analysis is always this: have you shorted (or will you short) the market? Because if you're so sure, you will make a fortune. Follow up question: if you can prove this is coming and time it imminently, why have you not convinced someone else with more money to do the same and gotten a high level job on Wall Street. The reality is that the people in The Big Short got a book and movie written about them because they were the outliers. The vast, vast majority of people who think they know what the market is going to do aren't going to do any better than a crap throwing monkey. Quote Link to comment Share on other sites More sharing options...
hrubes20 Posted October 19, 2018 Share Posted October 19, 2018 On 10/18/2018 at 8:09 AM, TVScout said: If a person finds the dream house and has the where with all to acquire it there is no debate. A perfect home is almost a unicorn. So true. Unfortunately, I now have 2 houses because the perfect one came on the market before we could sell the one we are currently in. Hooray for 3 mortgages! (2 houses and student loans) Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted October 19, 2018 Share Posted October 19, 2018 1 minute ago, hrubes20 said: So true. Unfortunately, I now have 2 houses because the perfect one came on the market before we could sell the one we are currently in. Hooray for 3 mortgages! (2 houses and student loans) I've been "looking" for a house for like 18 months now, which is to say I'm half-heartedly looking and talking about it to family over Thanksgiving. I'll lowball you for one to shut my relatives up. 1 Quote Link to comment Share on other sites More sharing options...
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