Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [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)
 
Old 08-24-2015, 02:30 AM
 
Location: Cypress, CA
936 posts, read 2,070,505 times
Reputation: 1162

Advertisements

Are we in 2008 again? I am ready to buy and made an offer but now scared because China market crashed another 9% today and the US stock market will surely follow albeit with a smaller drop. I fear that maybe home price will drop 20% right after I buy. I am buying a townhouse and historically townhouse price go down quite fast.
Reply With Quote Quick reply to this message

 
Old 08-24-2015, 03:10 AM
 
1,399 posts, read 1,791,360 times
Reputation: 3256
If you are planning To buy for investment purposes then I think you are correct to be concerned. If you are buying a home to live in long term.....5 to 10 years or more then get in now before interest rates go up. I bought my home as a long term home. Sure I always have resale on the back of my mind, but I am not worried since I have no plans to leave my home.
Reply With Quote Quick reply to this message
 
Old 08-24-2015, 04:46 AM
 
106,242 posts, read 108,237,907 times
Reputation: 79776
well i can tell you until this recovers we put buying the co-op we were going to buy on hold . i am not comfortable buying when net worth slid the last 2 weeks as much as 1/2 the purchase price so we will wait .

i am sure there are many others who will step out of the buyers market for now .
Reply With Quote Quick reply to this message
 
Old 08-24-2015, 06:19 AM
 
1,767 posts, read 1,736,833 times
Reputation: 1439
Hard to say at this point- the speed and large drops in the markets are a bit concerning but I'm not sure ready to call it a '08/'09 2.0 or not yet. I think the banking system is in much more stable state then it was back then. I don't think housing prices have recovered as much as the stock market has since that time.

Now if the stock market is signaling something more sinister in the economy & unemployment rates rise causing increases in foreclosures then housing prices lower.

Buy a house to live in.
Reply With Quote Quick reply to this message
 
Old 08-24-2015, 04:39 PM
 
Location: Sugarmill Woods , FL
6,234 posts, read 8,410,624 times
Reputation: 13809
One day doesn't make a long term trend. No one has that crystal ball!
Reply With Quote Quick reply to this message
 
Old 08-24-2015, 04:46 PM
 
13,711 posts, read 9,206,123 times
Reputation: 9845
It's hard to say.

This can also motivate the big money to move away from the stock market and into real estate, driving up real estate prices.

In many markets, the big time investors had exited leaving only home buyers and flippers to battle it out. If they come back to the market, housing can get crazier. Or it can start chasing second/third tier real estate cities and driving them up even more.

An astute investor once told me that stocks and housing usually take turns attracting big money.... until there is a crash.

Or the stock market can rally and then things are back to normal. Your crystal ball is as good as mine.
.
Reply With Quote Quick reply to this message
 
Old 08-24-2015, 09:02 PM
 
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,346 posts, read 80,658,912 times
Reputation: 57351
I'm no economist, but I suspect that part of the crash in China is due to their more affluent citizens taking their money out of the market and buying real estate here and in Canada. That drives prices up, not only for homes but also for commercial real estate - and high rises.

Columbia Center sells to Hong Kong company for $711 million | Local & Regional | Seattle News, Weather, Sports, Breaking News | KOMO News

Will Chinese buyers flee or flood US housing?
Reply With Quote Quick reply to this message
 
Old 08-24-2015, 10:27 PM
 
Location: los angeles county
1,763 posts, read 2,041,042 times
Reputation: 1877
What crash?

It's just normalizing.

China's stock market is only the result of "stupid money" and keeping up with the joneses.
The chinese had too much cash and thought they could make a quick profit from the stock market. Of course the ponzi scheme couldn't be sustained.

Look at the ridiculous chart bubble....

and draw a straight line through it.
Attached Thumbnails
How the stock market crash will affect home price?-untitled.png  
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

All times are GMT -6. The time now is 04:33 PM.

© 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