Housing market trash

benXJ said:
So it's all made up then. My lender has no idea how much 'disposable' income I have. Nor how much I save. They don't even know how much I make pre tax.
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I think you'd be quite shocked how much they know. If you think they only keep the records from when you got your mortgage, you're decades behind the information age.
It's lenders' business to know how much money their clientele make and estimate how much is on hand.
 
Futbalfantic said:
Then not a very good lender.
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I got a mortgage with a different bank than who I bank with. They did their due diligence at that time. When I got the mortgage I made different money than I do now. My debts are different amounts and with different debtors too. My mortgage owner has no idea what my monetary situation is, and won't care as long as I make the payment every month. Maybe I won a bunch at the local poker game and have lots of cash on hand, under my mattress? Or a lot of gold. Or Bitcoin. Or maybe I owe the local bookie 100 grand? The bank doesn't know any of this. So these stats about how much money people have compared to their mortgage....it's a guess? For political reasons I suppose.
 
I read that the shrinking economy is already leading to some layoffs in tech and some other sectors. will this cool the market some?
 
ponykilr said:
I read that the shrinking economy is already leading to some layoffs in tech and some other sectors. will this cool the market some?
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unlikely more than a tiny bit.

The thing is, as long as we have a massive shortage of housing supply compared to demand, its going to continue to move forward.
 
benXJ said:
What is up with that site? I don't need an interactive scrolling experience to read an article on housing costs.
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yeah I got about 4 scrolls in and quit
 
It just seems to me that for all the bitching in this thread and elsewhere, in the end, one of the following has to happen.

1. people have to just accept that prices will continue to climb (let demand continue to exceed supply)
2. people have to just accept that we will have increasingly more small-lot and dense housing subdivisions (allow supply to increase, giving up our love for space between neighbors and unmolested landscapes)
3. people just have to accept more people living under the same roof, either waiting long to move out, or taking in more family members etc (allow demand to increase, giving up that American ideal of GTFO and having yo own space)

Well or 4., let more people die, stop having babies, and don't let anybody else into the country legally or not (while the rest of the world population will continue to grow anyway)
 
RatLabGuy said:
It just seems to me that for all the bitching in this thread and elsewhere, in the end, one of the following has to happen.

1. people have to just accept that prices will continue to climb (let demand continue to exceed supply)
2. people have to just accept that we will have increasingly more small-lot and dense housing subdivisions (allow supply to increase, giving up our love for space between neighbors and unmolested landscapes)
3. people just have to accept more people living under the same roof, either waiting long to move out, or taking in more family members etc (allow demand to increase, giving up that American ideal of GTFO and having yo own space)

Well or 4., let more people die, stop having babies, and don't let anybody else into the country legally or not (while the rest of the world population will continue to grow anyway)
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5) Everyone stops paying & the banks bankrupt.




:D
 
shawn said:
Do they ever mention the rate of change in institutional ownership from 2009-current?
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Yes, there is a pretty cool graph showing how it started in Charlotte around 2012, and has exploded since. Mostly in Charlotte, Raleigh, and the Triad. The article was educational for me. I didn't know the extent of what was going on.
 
drkelly said:
Yes, there is a pretty cool graph showing how it started in Charlotte around 2012, and has exploded since. Mostly in Charlotte, Raleigh, and the Triad. The article was educational for me. I didn't know the extent of what was going on.
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That just shows purchase activity, not change in the percentage of SFR owned by institutional investors. It also states at the top of the chart "some properties may have been sold" - so they don't know (or aren't tracking) if or when those houses are resold.
 
Futbalfantic said:
Didn’t you say at one point that wasn’t a problem?
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Yeah, they wrote this huge fucking article about institutional ownership of SFR, but apparently never mention whether the percentage owned has changed over time, how much it has changed, whether the rate of change has increased or decreased, etc.

It's the most important metric, but I couldn't find any mention of it.
 
thebrotherinlaw said:
Hey, if anyone's interested, my neighbors house is for sale here in Asheville. It's an all original 2 bed, 1 bath, 1940's vintage on 1.4 acres. $289,900. Might need a little paint or complete tear down.
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The land is worth twice that.
 
benXJ said:
6. Quit importing people. 'everyone' complains about less open land, less houses, more crowded everything.....well why isn't 'everyone' voting for a closed border?
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I'd gladly trade some "lowest common denominator" people for some highest common denominator immigrants.
 
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