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Old 03-29-2020, 06:04 PM
 
921 posts, read 917,321 times
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@DaneThornberg,

I am in no panic or rush to buy. My commute is 2 miles from work now. I am working remote for a while until corona is over.
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Old 03-31-2020, 11:14 AM
 
2,952 posts, read 5,520,663 times
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I think it's more unpredictable than people think. And the reaction to the real estate market here (and everywhere else in CA or the US) is almost completely out of our hands.

If the quarantining and social distancing works and we can open businesses back up in a reasonable time, AND the bailout is effective at keeping businesses afloat during that time I doubt there will be much of an impact.

If the infection/death rates continue to be sky high and we have to quarantine for 6+ months I think the entire country will have issues with the real state market and the overall economy in general.
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Old 04-02-2020, 03:56 PM
 
492 posts, read 132,690 times
Reputation: 597
Quote:
Originally Posted by DaneThornberg View Post
Sign your rental lease for another twelve months or bite the bullet and buy now. I've decided to sign another annual lease, as I refuse bidding wars without knowing what I'm getting. The rush is intentional in some cases to prevent us from finding HUGE issues that will cost us $$$ to fix after the fact.

Many sellers/agents hide known issues and the bidding wars don't give us enough time to check things that will make our lives miserable. I'll wait until I don't have to buy under pressure to ensure the place is fit and safe.

What's another year?
good things come to those who wait
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Old 04-03-2020, 07:50 PM
 
921 posts, read 917,321 times
Reputation: 438
Agree and I figure no rush as I am recovering from a recent injury anyways.
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Old 04-15-2020, 10:37 PM
 
Location: California USA
1,291 posts, read 744,016 times
Reputation: 376
Quote:
Originally Posted by mixxalot View Post
Do you think that the home prices will drop due to mass layoffs and the shutdown caused by the coronavirus or just that sellers will stop listings until it ends?
I'm thinking a lot of the initial layoffs affected service industry people restaurants, caterers, hotel staff, etc. Not sure if they were in the housing market to begin with particularly at the current high market prices. No expert but my gut assessment is, no.

But if the shut down continues for a time consumers will obviously pull back on spending so that may affect workers who initially had jobs and enough income to be homeowners but find a lack of work as the problem. Then you might see some drop in home prices and increase in inventory but at the lower end. I would think that it would be many months before people start unloading their homes because they can't meet their mortgage payments.

Sad if that happens though.
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Old 04-17-2020, 09:57 AM
 
921 posts, read 917,321 times
Reputation: 438
yeah so low wage folks are losing jobs but even some high income professionals got whacked as well like my architect neighbor who was making 90k.
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Old 04-22-2020, 07:25 PM
 
301 posts, read 72,863 times
Reputation: 674
I haven't yet listened to the news, but did see a lead article that mentioned states going bankrupt. There's a real chance we could lose even our pensions by the time this is over.
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Old 04-22-2020, 09:27 PM
 
921 posts, read 917,321 times
Reputation: 438
Also talk of government furloughs for state employees due to this plandemic crisis.
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