Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-15-2020, 02:16 PM
 
Location: MID ATLANTIC
8,670 posts, read 22,856,196 times
Reputation: 10495

Advertisements

We may have a game-changer in the mix and that is China. I have family that teaches in China and over the NY Holiday, they were told to not return until April 1. The US Embassies are closed until at least March 1. No airlines are heading into China and it is very hard to get out, and then it's a 2 week quarantine.

All of this is going to have a ripple down effect on the US economy, tourism being hit hard (cruising, too). The Chinese pour tons of money into Orlando, Las Vegas, LA and NYC. Factories have shut down, car parts and building supplies will be on back order. Not sure how many recall the sheetrock shortages of the past (not the recalled - but much of our sheetrock comes from China).

Chinese have heavily invested in real estate in the sand state and Texas. If they cannot lease those homes, we will see pockets of foreclosure.

I am not saying this is going to create a housing crisis here in the States, but I do believe we won't get off without a dent or two or few and it could be Fall before it is fully realized - right around election time.
Reply With Quote Quick reply to this message

 
Old 03-13-2020, 01:57 PM
 
78 posts, read 134,015 times
Reputation: 55
wait until they run out of room to lower the rates... dow jones just hit 22k.. It probably reaches 15k before it reaches 30k and with the eminent lock down in the states for 1 or 3 months? who in the right mind would buy now? this ripple effect will last a long time. Small businesses will pay a big price holding their rents ( i have 4 at around 11 k per month) I have 10 employees that will be out of work and no savings. So, even when it gets back to normal in 2 months people wont spend like they used to for a while since they will have debt into their eyeballs. get yourself a home in 2021, election years wont be fun either for the stocks and economy. Also, didnt think sh*t was going to hit the fan so fast and so unexpected ( a virus?) I thought we would had a normal 10 to 20% downturn when re elections in November.. now I am thinking that this may surpass the 2008 recession ( but i dont think we will see homes selling for 20% of their value now) but it will have 30-40% off
Reply With Quote Quick reply to this message
 
Old 03-14-2020, 09:39 PM
 
Location: Boca Raton, FL
6,883 posts, read 11,214,122 times
Reputation: 10792
Smile In the mortgage business

I'm looking to buy an investment property this year or early next year since the rates are so low.

I've always wanted a 2nd home somewhere also but that's just on my list.

So, yes I would.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages

All times are GMT -6. The time now is 09:22 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top