[OmegaSupreme]

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[OmegaSupreme]

Originally Posted by Vic Romano

It will probably go down a little, I've seen some discounts up here already (a couple percentage points). But what will happen is houses will come off the market, the inventory will stabilize and with low interest rates prices will stabilize.

Nothing close to 20% decrease...

Are you confusing the liquidity of the housing market with the stock market?

House price declines take months/years, look at house prices from 2006-2012. There is a lag. Throw in the unemployment rate and you have a nice graph.

Predictions are difficult right now because interest rates are low and the economy is being pumped with unearned income. The net effect could be catastrophic, with inflation and unemployment spiralling out of control. If that happens, house prices will tumble.

I really hope this all goes away and something good actually comes out of it.

[OmegaSupreme]

Originally Posted by airics

Prices aren’t going to go down much if any

I hope you're right but I don't think you are. What is going to support the Las Vegas housing market?

[08grad]

Originally Posted by airics

Prices aren’t going to go down much if any

Rates are low

Value of dollar is being weakened

People aren't selling (or even leaving their homes for that matter)

Construction is halted for the time being

If anything prices will go up

[OmegaSupreme]

Originally Posted by 08grad

Rates are low

Value of dollar is being weakened

People aren't selling (or even leaving their homes for that matter)

Construction is halted for the time being

If anything prices will go up

Maybe in the short term, but who's buying? There is no demand.

You could very well be right, with QE and all other things being equal, the nominal price goes up.

In real dollars, I would just have to think everything falls in price over the next couple of years. Unless this thing blows over quickly.

[Willy702]

Originally Posted by 08grad

Rates are low

Value of dollar is being weakened

People aren't selling (or even leaving their homes for that matter)

Construction is halted for the time being

If anything prices will go up

Construction hasn't halted where they have workers available. And unless you think we all price things in gold the dollar is quite strong.

[ToolAcademy]

Originally Posted by ToolAcademy

- Stock market down 25%
- People panicing re: coronovirus
- Disastrous economic news about to hit Las Vegas: travel minimized, conventions cancelled, no int'l visitors allowed, few (or no) sports to gamble on.
- Interest rates already historically low, very little impact from further reductions
- Soon to come:

large uptick in layoffs here & nationwide ✅ 3.3 mil jobless claims reported today (highest print ever before today was 695,000)

more and more confirmed virus cases ✅ # of deaths in USA doubled in last 3 days

international investment money drying up ✅ Softbank liquidating $41 billion of assets

one or more of the "buy your house for cash" companies (offerpad, opendoor, etc) going belly-up ✅ Zillow, Redfin, Realogy and Opendoor Suspend iBuyer Home Purchase Programs (1)

Cali transplants won't be able to sell ✅ Sacramento: Open houses stopped. For sale signs gone. (2)

stock market dropping further ✅ DJIA currently 1000 points lower than Mar 11 despite 3-day rally

My guess is house prices have realistically dropped 20% since Feb. I don't mean your Zillow estimate, I mean a real, confirmed, signed-on-the-dotted-line contract for your house/apt as of today, is no higher than whatever equals 20% less than last month's comparables. Likely 40-50% by May if c-virus is not entirely contained. Economy & housing might all recover at some point in the near future, and this will just be a temporary dip. Or it might not.

It is important to say I hope that cases, and especially deaths, stop growing ASAP. Nobody in the hospital or worried about friends & loved ones cares about the state of the housing market. It's something to discuss on a message board while everyone is locked down and bored -- but it is not all that important in the grand scheme of things.


(1)https://finance.yahoo.com/news/zillo...045712124.html
(2)https://www.sacbee.com/news/coronavi...241418666.html

[08grad]

Originally Posted by OmegaSupreme

Maybe in the short term, but who's buying? There is no demand.

You could very well be right, with QE and all other things being equal, the nominal price goes up.

In real dollars, I would just have to think everything falls in price over the next couple of years. Unless this thing blows over quickly.

There are 14 homes under 400k on the market in my area.

5 out of 14 are under contract. 2 of those 5 went pending/contingent the past week, after the school shutdown.

[OmegaSupreme]

Originally Posted by 08grad

There are 14 homes under 400k on the market in my area.

5 out of 14 are under contract. 2 of those 5 went pending/contingent the past week, after the school shutdown.

Well I hope that behavior continues, but what happens when people can't pay their rent and landlord's therefore can't pay their own mortgages?

Macau has opened back up and is operating at 10% of pre coronavirus levels. its early, but those numbers are scary

[eventusstultorummagister]

Originally Posted by aardogfsu

My feeling is that it was meant to be released here but got out on their soil accidentally. I’m not a conspiracy guy outside of extraterrestrial life, im not a flat earthier, a moon landing skeptic nor a 9-11 guy. It’s just when something smells, it smells.

It's no conspiracy, it's a fact, the U.S. is already at war with China and 5G is a weapon. If you have some spare time, Google and read the Electromagnetic Defense Task Force 2.0 2019 report (it's available online).


“Your Commie has no regard for human life. Not even his own.”
Dr. Strangelove (1964)