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What do you base that on? It is not just low-wage workers being laid off. It will cut across the spectrum. I already know some high-paid white collar workers who expect to be laid off sometime next week. And at least one of them works at a place with 80+ other white collar workers.
Yeah, of course there will be those, I just expect that most of the unemployed will be coming from the lower ranks, like waiters/bartenders/hourly workers/etc......
I could be wrong though, we'll see.....
Yeah, of course there will be those, I just expect that most of the unemployed will be coming from the lower ranks, like waiters/bartenders/hourly workers/etc......
I could be wrong though, we'll see.....
I agree with you most people laid off in Ca can’t afford our real estate. Inventory is low, rates are low, people have sold stocks and are looking to invest. This is all temporary and we will recover quickly. Also P Trump will bail out businesses and people will be getting 1000.00 checks to help. I’m listing my condo next month and so far my agents not worried. My neighbor just listed hers yesterday and already has 300 views and 15 saves on Zillow
Because those 'days on market' that zillow tracks, starts to smell of rotten fish.
After this crisis is over, I'll just pull it and relist........no problem. I think getting eyes on it is good...the people that are clicking 'save' it are doing it for a reason....
Location: Stuck on the East Coast, hoping to head West
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I had a plan: I wanted to sell, rent for a while, and then relocate to another state. I listed my house last week, had an offer in hours, and accepted it. I am praying the sale goes through. I think my buyer is, too.
I don't think you can time the market. Nobody can see into the future. If you want to sell, sell. The most important thing is to have a calm, rational plan and to keep a long term view, easier said than done, I know. I haven't always followed my own advice.
For example, I've wanted to sell this house for years. It is a money pit. During the height of the bubble, I didn't sell because I kept thinking I'd get a better price by waiting. Then the crash happened and I figured I'd wait for recovery. Then my neighborhood was in recovery and I didn't recognize it right away so nearly missed it. Then there were more repairs that I had to pay for or I wouldn't be able to sell anyway.
Then I realized a house is not a safety net or an investment. It's a freaking house. I put my life on hold, missed opportunites, missed out on buying better houses, all because I tried to time the market.
Yeah, of course there will be those, I just expect that most of the unemployed will be coming from the lower ranks, like waiters/bartenders/hourly workers/etc......
I could be wrong though, we'll see.....
Initially, yes it is always the low wage earners that lose out first.
But, the stock market shed another 900+ points today. From this year's high to now, it has lost FORTY PERCENT...and it ain't done yet.
So, all these high earners who might be interested in your home, look at their 401K balances and do you really think they are in the same mood to buy a home as they were a few months ago??
Earlier today I heard on NPR that a 35% reduction in sales is expected for this normally "hot" selling season. But anyone can check the sources in the link above and read for themselves.
So, all these high earners who might be interested in your home, look at their 401K balances and do you really think they are in the same mood to buy a home as they were a few months ago??
I don't think they're buying the next house with their 401K's, i think the downpayment is coming from the equity in their own house that they are moving up from.......
But like I said before.....I dunno......
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