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Old 01-25-2022, 08:24 AM
 
508 posts, read 339,942 times
Reputation: 842

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Quote:
Originally Posted by CTartist View Post
Mr. Gompers knows all of the above. He is being facetious in many of his posts.....and that is part of his charm.
Weird that you are speaking on their behalf, but regardless that didn't sound flippant. It sounded uninformed.

 
Old 01-25-2022, 01:58 PM
 
Location: Connecticut
34,636 posts, read 56,391,795 times
Reputation: 11150
Please stop the bickering and return to the topic of the OP. JayCT, Moderator
 
Old 01-25-2022, 05:48 PM
 
Location: Fairfield County CT
4,387 posts, read 3,265,858 times
Reputation: 2706
Quote:
Originally Posted by Stepfordct View Post
How do you define charm!?
1) I can't quite define it but I know it when I see it, read it or hear it.
2) Any decent looking man with French accent.
3) Cary Grant

It's kind of like how you can't define the "X" factor.......you just know when you see it.
 
Old 01-25-2022, 07:33 PM
 
Location: Connecticut
5,104 posts, read 4,780,306 times
Reputation: 3636
Quote:
Originally Posted by Stepfordct View Post
Not familiar with the FB group you belong to that you obviously have an issue with....

On the contrary, I love the leaving Ct facebook group. I am trying to encourage more people to leave. Too much traffic around here as it is. Builders can't stop creating new subdivisions with houses starting at 650k. They need to bring that down to 250k.



Who the hell wants to live in Rocky Hill @650k ? I don't know but these houses keep selling. Maybe its all that covid stimulus money? $1200 + $1200 + $300 a month for each kid. Before you know it these free loaders will be millionaires. And this is before the food stamps kick in.


Quite the racket they have going here.
 
Old 01-25-2022, 07:40 PM
 
Location: Connecticut
5,104 posts, read 4,780,306 times
Reputation: 3636
Quote:
Originally Posted by CTartist View Post



I must be really old now because I have no idea what a schrodinger is lol. What is a schrodinger?

I missed you Mr. Gompers.....glad to see you back.

A layman's definition


In simple terms, Schrödinger stated that if you place a cat and something that could kill the cat (a radioactive atom) in a box and sealed it, you would not know if the cat was dead or alive until you opened the box, so that until the box was opened, the cat was (in a sense) both "dead and alive".


I always wanted to open a vet office and call it schrodinger's vet service. I wonder how many people would get the joke?
 
Old 01-26-2022, 06:34 PM
 
570 posts, read 470,311 times
Reputation: 617
Default It will be a long slog

Quote:
Originally Posted by SteveM85 View Post
The RE investor says it won't be as bad as 08 because it's not Countrywide ninja loans. Tsek and CTYank say it will be the worst thing to ever happen because the Fed is printing money.
It may not be as bad as 08 or it may be worse. We just don't know.
What is different this time is that the great housing scam of 2007 exploded as it should have due to banking/realtor lies, hubris and end of 'greater fool' economics. Bernanke and Paulson bailed it out posthumously and it took years to stabilize. Oz Powell did a front run and threw trillions around to banking criminals. The result is asset bubbles in every class and serious inflation. There is no way to pull out of this one without complete destruction of stock market and housing. People that will be hurt are younger folks reaching up via mortgage debt accumulation. Rate hikes will give pause to price increases but it is Feds balance sheet that is problem. That is all that matters for economy real estate is just one piece. They are boxed in. I would expect decades of sideways/downward pressure when this next recession hits. Recall CT was sucking wind in Jan 2020. Lots of people lost money on homes after 10 years of ownership. The fundamentals are no better now. Wage growth is not driving this. What's worse are valuations/taxes being through roof now due to 30% reval increase. X-factor is that young ones MUST now have two strong incomes to survive. They seem ok with leaving kids to nanny/daycare if it means bigger house. Strange times
 
Old 01-26-2022, 06:49 PM
 
Location: USA
6,586 posts, read 3,543,283 times
Reputation: 3373
Quote:
Originally Posted by CT_Yank View Post
What is different this time is that the great housing scam of 2007 exploded as it should have due to banking/realtor lies, hubris and end of 'greater fool' economics. Bernanke and Paulson bailed it out posthumously and it took years to stabilize. Oz Powell did a front run and threw trillions around to banking criminals. The result is asset bubbles in every class and serious inflation. There is no way to pull out of this one without complete destruction of stock market and housing. People that will be hurt are younger folks reaching up via mortgage debt accumulation. Rate hikes will give pause to price increases but it is Feds balance sheet that is problem. That is all that matters for economy real estate is just one piece. They are boxed in. I would expect decades of sideways/downward pressure when this next recession hits. Recall CT was sucking wind in Jan 2020. Lots of people lost money on homes after 10 years of ownership. The fundamentals are no better now. Wage growth is not driving this. What's worse are valuations/taxes being through roof now due to 30% reval increase. X-factor is that young ones MUST now have two strong incomes to survive. They seem ok with leaving kids to nanny/daycare if it means bigger house. Strange times
Good work. You have a lot more business savvy in one post then I'll ever have in a lifetime. If you want to talk baseball I'll go all day. What I do know is this - we don't know anything. We have no idea what's going to happen. Had those Jan 2020 people who lost money knew COVID was coming to save the day for the CT RE market they would have waited to sell and made out. Life throws curves.
Have towns already put through revals for taxes? that quick? I haven't seen an increase yet
You're right, the young ones tend to get in over their heads. No question. Hundred percent.
 
Old 01-26-2022, 07:46 PM
 
Location: Coastal Connecticut
21,495 posts, read 27,731,790 times
Reputation: 6664
Quote:
Originally Posted by CT_Yank View Post
What is different this time is that the great housing scam of 2007 exploded as it should have due to banking/realtor lies, hubris and end of 'greater fool' economics. Bernanke and Paulson bailed it out posthumously and it took years to stabilize. Oz Powell did a front run and threw trillions around to banking criminals. The result is asset bubbles in every class and serious inflation. There is no way to pull out of this one without complete destruction of stock market and housing. People that will be hurt are younger folks reaching up via mortgage debt accumulation. Rate hikes will give pause to price increases but it is Feds balance sheet that is problem. That is all that matters for economy real estate is just one piece. They are boxed in. I would expect decades of sideways/downward pressure when this next recession hits. Recall CT was sucking wind in Jan 2020. Lots of people lost money on homes after 10 years of ownership. The fundamentals are no better now. Wage growth is not driving this. What's worse are valuations/taxes being through roof now due to 30% reval increase. X-factor is that young ones MUST now have two strong incomes to survive. They seem ok with leaving kids to nanny/daycare if it means bigger house. Strange times
Mill rates will adjust to market increase
 
Old 01-27-2022, 07:50 AM
 
157 posts, read 123,606 times
Reputation: 310
Quote:
Originally Posted by CT_Yank View Post
What is different this time is that the great housing scam of 2007 exploded as it should have due to banking/realtor lies, hubris and end of 'greater fool' economics. Bernanke and Paulson bailed it out posthumously and it took years to stabilize. Oz Powell did a front run and threw trillions around to banking criminals. The result is asset bubbles in every class and serious inflation. There is no way to pull out of this one without complete destruction of stock market and housing. People that will be hurt are younger folks reaching up via mortgage debt accumulation. Rate hikes will give pause to price increases but it is Feds balance sheet that is problem. That is all that matters for economy real estate is just one piece. They are boxed in. I would expect decades of sideways/downward pressure when this next recession hits. Recall CT was sucking wind in Jan 2020. Lots of people lost money on homes after 10 years of ownership. The fundamentals are no better now. Wage growth is not driving this. What's worse are valuations/taxes being through roof now due to 30% reval increase. X-factor is that young ones MUST now have two strong incomes to survive. They seem ok with leaving kids to nanny/daycare if it means bigger house. Strange times
The Fed/Powell are totally stuck now. Yesterday they announced their intention to tighten but as of yet they haven't carried out any real tightening steps, probably because they can't. If they actually raise interest rates as needed, the bubbles they have blown will pop so violently we'll be in a recession. And the Government wouldn't be able to pay its interest. On the other hand inflation has Americans who live paycheck-to-paycheck choosing between heating their homes and grocery. This isn't apparent in platinum NYC suburbs but it's the reality our Government is dealing with. I expect the Government knows their bigger threat is freezing, hungry Midwesterners and will try to give asset bubbles a soft landing. I'm guessing it won't work.
 
Old 01-27-2022, 11:35 AM
 
Location: Connecticut
34,636 posts, read 56,391,795 times
Reputation: 11150
Please stick to the topic of the OP which is the current real estate market in Connecticut. If you wish to discuss Federal economic policy or a possible recession, there are other forums for that. JayCT, Moderator
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