Case-Shiller National Home Price Index Still HOT In December +18.84% YoY As Active Inventories Die (Phoenix AZ Fastest Growing At 32.5% YoY While Washington DC Is Slowest Growing At 10.5% YoY)

Confounded Interest ^ | 02/22/2022 | Anthony B. Sanders

[woodbutcher1963]

I remember it well. In January 2009 the total number of US housing starts was 485,000. Last week permits got to 1.9 million.

My income dropped 50% from 2006-2009. I almost got out of the lumber business. It took over five years to get back up to what I was making prior to the Great Recession. I was lucky. Many people lost their jobs. Many declared bankruptcy.

I hope AZ, FL, CA, and NC have changed their foreclosure laws from back then. People just dropped the keys off for their house at the bank and said you own it. They were so far off sides.

[SaxxonWoods]

Sorry to hear that. We've been retired about 12 years, it's an interesting life modification. In my opinion the FED has done a great job with the **** sandwich they've been handed by the govt. for decades.

But that doesn't matter, it is what it is, when I'm through blaming I'm still faced with all the same problems, ugh.

The House is responsible for budgeting under the Constitution and they don't write a budget anymore which is why we have continuing resolutions every few months. I assume you are cutting every corner you can, best wishes.

[SaxxonWoods]

“... My grandkid is 26 and a diesel mechanic. His wife is stay-at-home Mom. One middle class income, and with no help from parents, they own a home. How can it be?
I guess they had a down payment and qualified for a loan. It sounds pretty ordinary. Why wouldn’t it be?”

The wife is a veteran, no down payment on VA loans. I would have given them the down payment but they didn’t need it.

[SaxxonWoods]

Yeah, there is no pure capitalism, not even close.

Our family farm’s value went all over the place over the decades, but it’s still in the family over a century later, free and clear and worth more than ever fortunately.

[SaxxonWoods]

My local builder friend said recently that lumber price had improved quite a bit and he’s running multiple crews and going crazy.

I’m glad to be on the back side, I had my 40 years of pressure, 3 real estate crashes, etc.

[SaxxonWoods]

Remember that old saying: “Everybody makes mistakes, builders sometimes live in their’s.”

I developed finished lots and sold to builders, specialized in starter homes. so my problems were different, you are familiar I’m sure. Just imagine, in the 80’s I was selling ready to go lots for $25k. Get a permit and break ground.

[woodbutcher1963]

I designed and hired a contractor to build my first house in 1989. The lot was $35K. The price for the house ended up at $125K. I borrowed $100K from the local credit union and signed my life away.

This house was what they called an expansion cape cod style. The upstairs had the plumbing and electric brought up but nothing else. It cost me another $15K to finish it off. I did everything myself except the plumbing and floors(tile & wall to wall).
I got divorced and ended up selling the house in 1995 for $127K. Yes, I was into it for $140K.

Thems the brakes