Woould you plan to buy a house in 2020 with the "crisis" rumours??
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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.
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
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.
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