Real estate crisis coming soon?
 

What will happen when the layoffs cause people to miss their mortgage payments?

What will happen to real estate markets when a tidal wave of foreclosures happen?

Will there be eager Chinese investors propping up the market like before?

It was Wall Street last time. I wonder if they wished they had hit the door?

I doubt that'll happen. https://www.housingwire.com/articles...avirus-crisis/

You may be on to something. The smart money (hedge funds) are currently liquid-at least the ones who are forced to report are...

They might be splitting their bucks between stocks and other asset classes though

Not sure if there's enough to bail out the possible implosion in inflated real estate markets

Who will be hardest hit?

If 2008 is any indication

Las Vegas
LA
San Fran

We are not growing with our birth rate. Add in we are shutting down immigration. Then wipe out a bunch of people. Real estate might be ugly for years to come.

It's about time

I saw longest line of people lined up for unemployment benefit could see their desperation rather sad. I felt bad as went to pizza shop I crossed road so i didn't look like only ass that can afford take away.

if you have money to spend then you can buy great properties when the housing market collapses like it did back 2008+

I bought a foreclosed condo during the last collapse than for $28,000.. sold it for $65,000 4 years later.. Foreclosures were everywhere cheap as dirt.

I know a guy who bought a 1500+ sq foot condo for $65,000 and sold it a few years later for $118,000. Real estate is the best industry to make real $ in.. Not porn

You've been making these threads for over a year..

This is what we did... We bought a condo for $50k a few blocks from our house. We rented it out to a friend for a few years, then sold it and made a ton of cash and rolled that into another condo in Hawaii...

2cts coming from someone that experienced 2000 and 2008 crisis:
this is not a financial crisis like 2008, it's a pause button for the entire economy, but fundamentals are healthy, ie it will bounce back without crushing the real estate

your not doing porn right then :2 cents:

I work in a high cash flow market for investors, they are already dropping like flies. Most of these guys were using financing.

I bought 4 houses in the last crash. I have one left. Wish I had gotten rid of it last year. Not going to be able to off load it for a while now.

Governors are talking about issuing a 3 month break from paying mortgages. This would help millions of Americans (myself included)! Simply put those 3 months at the end of the loan - done!

I am hoping for this big time.

much like the stimulus package, it's going to be contigent on many things if this happens (gross adjusted income). And since everyone on gfy are multimillionaires and billionaires, nobody here will get anything.

Not worried about my place, it's paid off and places that go up for sale there sell within a week.
Most of my retirement money is in annuities , they are not effected by market lose.
As for income, making more than usual right now because of the drop in fuel prices.
The stocks we have will rebound I'm sure.

In New Zealand where we are in full lockdown the real estate market no longer exists - What will happen when this is all over is anyone's guess...

Yup, they’re giving a 6 month repayment break here in Oz. Guy from NAB (bank) was explaining it on tv last night. Ominously he said that after 6 months there would be a review of peoples’ ability to pay and it was very likely that there would be defaults and foreclosures.

Insane how quickly this has happened

I dont think it will be that bad, but it will be some what bad

the big change everybody is talking about is people are going to leave the cities - more suburban sprawl.

compare the virus spread of NY and LA. everybody is packed in NY like sardines, no distancing, and its the epicenter in the US. even the NY gov and NYC mayor said its a huge problem. this thing could wipe out 5% of the population of NYC.

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Hotels and businesses here in Spain are already being sold cheap, even a couple of garages, like petrol stations! :(

You are both right and wrong.

This is not a financial crisis like 2008.

Wei will no, however, "bounce back". Don't kid yourself that after two months we suddenly turn the economy back on and say "okay, back to business". A large amount of businsses will not survive. A lot of those jobs will not come back. When we do go back to business as normal a lot of people and companies will have huge finacial issues. At the same time a lot of people and a lot of companies will not have much faith in the economy, and will be holding on to their money instead of spending it. Then factor in that this is the first round with this virus. This is the first round. It will be come back again.

This is going to be worse than the great recession. This will be worse than the great depression. They are talking about twenty to thirty percent unemployment.

Already seen a commercial property that has a restaurant in downstairs and 3 apartments upstairs nearly cut in half in the last week. Investors are walking away/ Seriously considering it myself.

Many investors in deep with airbnb that counted on the monthly revenue will take a huge hit. Even if the lights are turned back on in a few weeks it will take many months perhaps even a year+ to recover, if they can, because people are using up their vacation pay/time right now.

Here's what it boils down too -

Ya purchase property a freebee throw away from a University -

Contracts signed a year prior - 10k a month and I own 3 Princeton properties a spit and a piss away from Princeton University -
Cash deposited into my Charles Schwab account -

What are you monkies doing ? - The only one here that has a head on their shoulders is Rick -

This. There's something very unsettling about how much money governments around the world are throwing at this. There seems to be this "6 month" provision everywhere you look, so the real effects won't be felt until then. It's the middle class who will be ruined, they hold all the debt. Pension pots and savings have already been fucked in the arse. Stock holdings decimated. Wait for the banks to come for the houses and the finance companies to come for the cars.

What's six months? October. Sounds about right. Great depression, October. 1987, October. GFC, September/October. Corona Crash, October :2 cents:

I already have plans on moving to the country, like in the middle of no where.
I'm seeing the country right now and after living my whole life all over California, I'm ready to slow down.
Like 2008, a lot of people are not ready for this, I am, my wife is.
We lost money in the stock market and won't touch it till it comes back up and it will, not worried about it

Soviet, probably October Class, really wide like one of their boomers.

Just so you know who you're talking too - Im not one of these penniless jerkoffs trying to troll - I appreciate your time / highly respect your service and this is me -

https://i.imgur.com/7i3hCpE.jpg

It looks like they are trying like HELL to reinflate the bubble

A lot of US real estate markets were saved by CHINESE investors

Given how Covid fucked their economy up (at least the part we're allowed to see by the CCP), I'm not sure if that Chinese real estate investor lifeline will be available

where did u take that? i'd say Thailand but the boards are too straight lol

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if you can hold it a year without revenue - do it! :winkwink:

petrol stations are gold. they're crazy to sell. everything bounces back, unless it really is the apocalypse. then at least you'd have petrol.

you only lose it if you sell lol

yea there's so many better places than California :pimp

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Nice looking girl you got there - Can she swallow my cock as you watch ? -
Just asking, coward -

i was asking an honest question out of curiosity. that's not stateside architecture, and i've been to a lot of places (and bases).

dial it back a little, buddy. no one here is fighting with you..

:pimp

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Canada has tens of thousands of realtors, the most useless profession of all time.

90% doing nada right now and in // we need to import 60000 people to work in agriculture???

Me thinks its a match, although picking up potatoes is REAL work compared to getting photocopies signed.

:1orglaugh:1orglaugh:1orglaugh

I thought part of the bail out was no one could be evicted for missing payments.. at least in the US.

The Schiller index isn't showing much movement

lol @ the coward

ok, tell me how i am a coward for asking where you were stationed? i was being positive, but you are fucking dipshit.

check your shit, captain...

:321GFY

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This thread devolved quickly

:1orglaugh

the more things change, the more they stay the same..

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I'm pretty sure there will be a crisis but not as big as in 2008. It will be a good time to make some investment :)

Seems like it is going to be even worse than 2008. But still for buying house or land can be a suitable time