Posted on 01/22/2019 9:05:41 PM PST by dila813
U.S. housing sales, a key pillar of economic growth in recent years, are looking weaker again.
Existing home sales declined for much of 2018. In December, according to the National Association of Realtors, sales of single-family homes, condos, and co-ops fell a larger-than-expected 6.4% from the previous month. A Reuters survey of economists projected home sales to decline by a modest 1% in December.
(Excerpt) Read more at fortune.com ...
China is not crashing.
China just set the all-time, new world trade surplus, with America.
Crashing?
Not one bit.
Seems to be the case. Many invest in US real estate even if there is the possibility of the market going flat. The alternative is leaving the money in China and the risks associated with that. Maybe China is restricting the outflow of money to its citizens living elsewhere.
Well said and likely true.
I think you’ve hit on the reasons. Fortune trends liberal so it’s probably trying to cast aspersions toward Trump. They are always controlling the narrative. It’s just what liberals do.
There are lots of houses in blue states that are priced high enough that the new tax law will cause the owners to pay tens of thousands of dollars more for federal income taxes. If your home has property taxes over $10,000 you will pay more federal taxes. So if you have a cheap home, or you rent, you are better off. If you are very rich you don’t care. But if you have a home with taxes that are high enough, you will be paying a lot more every year. And those homes are not selling as well.
I’l just rent out my fixer rather than sell. Solar panels will be required on new 2020 construction in Calif so I gotta build that 2nd unit.
I know why. It ain’t rocket science.
But I’m not sharing. If someone doesn’t beat me to it, it will be my next writing project.
Fair warning: All of you homeowners are complicit in this.
I wonder if this data is available broken down by region, and I wonder if lumbering blue states are dragging down the overall good numbers . . .
If the financial geniuses at Fortune can't figure it out, how are we rubes in fly-over country supposed to know the answer?
If the Dems win the White House next year, expect them to roll back a lot of recent improvements in Old Manufacturing, just because Trump helped to make it happen. They are petty and they are proud of it! If a few thousand people lose their jobs, Oh Well! Those jobs probably would have wrecked the environment anyway. That’s how they think.
The ChiComs are running out of money.
Are they recently abandoned or from the banking meltdown ten years ago?
I was told the banks just left them sitting empty rather than doing foreclosures because it affected their rating to have too many at once so they have slowly been working them off.
We had several like that here that just sat for years, people always asking about them, but in the past two years they finally went on the market and snap they were sold.
According to Sunny Side properties, the market fluctuates. Even in the worst of times, there is plenty to do with real estate and people still need a roof over their head. With tight lending, there are more renters, so buy and hold is a good strategy. With easy (loose) lending and high demand, there are good opportunities for short term profits from home buyers. Regardless, a good investment strategy is hard to identify because everyone wants something different. And the writer of the rticle is no different that others.
rwood
Go and trust your heart. Do it for yourself and your family. I’m sure you will be happier.
There is a strange perversity in the tax law.
As a landlord, my property taxes are 100% deductible as a business expense. The long-term result of this will be to turn the US into a nation of renters.
IMHO renters are ripe for a socialist takeover, owners not so much...
The Liberals definitely have the ultimate goal of government housing. They will achieve it by basically making it too difficult to make any money from being a landlord.
Throw in bad weather over a lot of the US and you have a “witches’ brew” of bad financial timing re buying a house.
And for we lucky folks who have out of control Democrats taxing every kind of “property” they can get away with, it is no wonder young first home buyers are screwed, yet they still vote for these Marxist financial fools.
Maybe they can buy a “Tiny House” as a starter.
Rural. Mostly the old people dying off. Kids dont want the places. I know one guy is in jail. Some are drug bust properties meth labs etc. Very few are foreclosures.
More than a third of our counties have fewer people than they did 110 years ago.
At some point after 2008’s economic stumble....maybe around 2010 to 2012...there were various reports of Chinese syndicates who were coming into Phoenix and buying up dozens of homes per month as rental properties. It was a way to hide your cash flow and get something for investment purposes.
It may be that the Chinese gov’t has put enough pressure on exiting money to hinder that property investment idea.
Bingo
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