Posted on 05/03/2021 7:20:47 AM PDT by ChicagoConservative27
“It should be OBVIOUS to everyone that China is engaged in a TAKEOVER of our country, one Chinese national at a time via property purchases.”
Too late, Japan already did that in the ‘80s.
I’m doing the same thing.
“Where are people getting all the money? I know stocks and IT jobs, but there just seems to be a lot of people with a lot of money. I don’t see it.”
People with specialized degrees are making serious money.
Not uncommon for a rn or higher degreed nurse to make $80-100k per year and their husband is a police officer making 100+ k per year.
My niece was making $90k per year as a waitress at a high end restaurant in DC.’
I have an engineering firm as a client. Engineering students right out of college are starting at 90-100k + benefits.
My 950sqft ranch in greater Boston is worth 725,000. That’s insane!
“It’s nuts.”
Yeah, I’ve been through 3 of these cycles. Retired early off them.
Once the Dems get that communism thing fully installed they won’t happen anymore.
Are they buying beach homes.
You have to make pretty good money to exist in a city.
Do they have enough spare cash to buy beach homes?
The demand is real.
People fleeing oppressive/dangerous Dem states and cities.
One of my wife’s younger female relatives is a real estate broker and owns a small apartment complex in the Middle of No Where in the midwest.
Homes in the two towns, where she lives and works in, are being sold often before they go on the market from her backup list. Some of the “new” home buyers had grandparents or parents or other relatives, who grew up and lived in that area.
Often the new home buyers tell people and relatives in their old Blue cities about their great realtor. Then, these potential customers are put on her potential buyer lists.
She has a list of potential renters for her apartment complex which normally has a 10-20% vacancy rate. No room at that inn.
The new buyers are internet commuting from their new homes and fleeing big blue and dangerous cities.
right there with ya...small town west of cook\chicago...almost have the home paid off - probably by end of year.
1056 sf and turned .75 % of a one-car garage into living space.
Sits on almost .5 acres...built in ‘58 ish. Creek in the back of the house.
Just nuts on price going up every month (according to zillow).
staying put until Illinois figures out how to tax retirement income...then hasta la bye-bye.
"Hello, I'd like to know if you would be interested in selling your house located at...."
Me: "3.5 million dollars"
"Well, it would depend on condition and I think your price is too high for that area."
Me: "Look, you called ME asking if I wanted to sell. I gave you my price. If you don't like that, take me off your call list and leave me alone."
In our northern Virginia suburb, I’m starting to see illegal aliens flip housing. Somebody is fronting them money to buy a house. Then 8-10 illegals move in, remodel and landscape, and then sell a couple of months later.
A good idea if you have the cash up front, and I’m sure everybody comes out ahead in the end.
A million illegal aliens will come in from the southern border this year, all needing homes.
Lots of conspiracy theories about “dem feriners” buying up property again. The answer is simple. During the Trump years, returns on just the S&P 500 were 22% in 2017, 31%, 18%. People who did a little research and invested in mutual funds saw returns of 40% (I did!). All you had to do was believe in America and put your money where your mouth is, and you would have laughed all the way to the bank. The biggest beneficiaries are old people who accumulated millions in their tax-free growth funds. Other beneficiaries are people who struggled in high cost areas, accumulating a high salary history and lots of equity on their crappy shacks, only to transfer to much less expensive locales.
I have a friend whose home inspection biz has fallen off a cliff because sellers are saying no to offers that include them or buyers are not including them.
I have been looking a real estate investments as a vehicle for escaping inflation and I think we both in a housing bubble again and not in a housing bubble and it is all congress’s fault. As part of Covid relief moratoriums have been placed on evictions and foreclosures and at the same time gobs of dollars have been created that need somewhere to go.
As part of my research into real estate investments I talked to a banker friend. I was told to wait because there is huge backlog of mortgages that are behind on payments and simply cannot catch up. When Congress lifts the moratoriums it will be worse than 2008.
So we have a flood of foreclosures and high inflation over the horizon. Congress won’t wait forever and the longer they do the worse things get for banks holding the mortgage backed securities. High inflation will put more pressure on people who already cannot pay their bills. My current hypothesis is that there will be a window where housing crashes hard before it gets pulled back up by the flood of inflated dollars. In the swirling mess what is up and what is down may vary day by day. Opportunities abound alongside risk.
If they have to sell the option of just riding things out is not available.
Are the Banks doing this again? Allowing people to buy homes they can’t afford?
Same w Colorado, although I moved from CA 36 years ago, the Lib assault got worse 20 years ago.
A lot of wealthy chicoms are trying to get money out of China. In a blink their wealth can go poof, if your political enemies attack. Jack Ma is an example.
Yup, Japan bought trophy properties at peak 1988/1989 prices and then got slaughtered a few years later after GW1.
What kind of irrational behavior?
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