All time high reached in January for Median home prices. Likely to continue climbing (Riverside: for sale, condo)

[hitman619]

Originally Posted by 1AngryTaxPayer

True, it's a California thing but still based on bloated Government. Example, a buddy of mine moved to Texas and on the way out moving he broke down. It was his catalytic converter died. He had it towed to the nearest town. He asked, "How much is this gonna cost me?". Guy said, "Probably 30 bucks". What? Ya, we are cutting off that CA contraption and putting in some straight pipe.

Whether right or wrong, it's a CA thing. He then sent me a pic of 139 a gallon gas and it was over 4 bucks here.

Yea but it’s Still Texas.
I think you I’ve told the story on here of how my niece moved to Austin, Then Waco. In the end The crappy weather is what did her in she couldn’t move back to San Diego fast enough.
When she was in Austin for School, she watched home and rents prices go through roof from all of the Californians moving there for work.
I lived in Louisiana for 5 years and as much as I loved it there, it ain’t California, Not even close.
Great place to retire though.

[NORTY FLATZ]

According to PSAR, the "all cash" sales are at 27%....

[C2BP]

Originally Posted by stablegenius

I’ve seen some people on here think a crash of 50% is coming

No crash, real estate prices will simply deflate and return back to normal levels. Today real estate is in a big, fat and ugly bubble thanks to cheap money and the FED. But it appears that party is ending.

[C2BP]

Originally Posted by stablegenius

I totally agree hopefully prices on homes go down but rent hold so I can rent my place and buy another.

When interest rates rise our currency becomes stronger and what our STRoNG US dollar does is it deflates all prices, including rents.

[C2BP]

Originally Posted by NYSD1995

Assuming a 50% decline I would pick up another rental property, I certainly can't be alone in that regard.

You people really don’t get it. If the FED is serious this time to pay the PIPER that means the PARTY is over and the era of cheap money, ZIRP and our FED suppressing interest rates will end for ever. There won’t be another return to these price levels and return to cheap money and ZIRP. If the FED is finally ready to capitulate and admit that ZIRP and Qe are NOT working, that suppressing interest rates to protect old debt is not working than this crazy experiment will never be repeated again and those upcoming financial losses in asset prices due to deflation and depression will be permanent. You will never see those overinflated and crazy bubble prices of today. Rents will be cut and half, housing prices will
be cut in half, education cost, healthcare cost......all prices will come down back to earth so that ordinary Americans can afford them again.

No one will care playing Landlords and Slumlords once our currency is STRONG. Why would you buy depreciating asset....real estate in higher interest rate environment when you can just keep your money in your savings account and collect 5% and up interest? By holding cash and in this case STRoNG US Dollar due to higher interest rates everyone will want what you have. No one will care about real estate that much or to play landlords during deflation and depression that could last for a decade or more.

I don’t think some of you understand what is coming if the FED is ready to pay the PIPER for this DEBT orgy since 2001.

[NYSD1995]

Originally Posted by C2BP

You people really don’t get it. If the FED is serious this time to pay the PIPER that means the PARTY is over and the era of cheap money, ZIRP and our FED suppressing interest rates will end for ever. There won’t be another return to these price levels and return to cheap money and ZIRP. If the FED is finally ready to capitulate and admit that ZIRP and Qe are NOT working, that suppressing interest rates to protect old debt is not working than this crazy experiment will never be repeated again and those upcoming financial losses in asset prices due to deflation and depression will be permanent. You will never see those overinflated and crazy bubble prices of today. Rents will be cut and half, housing prices will
be cut in half, education cost, healthcare cost......all prices will come down back to earth so that ordinary Americans can afford them again.

No one will care playing Landlords and Slumlords once our currency is STRONG. Why would you buy depreciating asset....real estate in higher interest rate environment when you can just keep your money in your savings account and collect 5% and up interest? By holding cash and in this case STRoNG US Dollar due to higher interest rates everyone will want what you have. No one will care about real estate that much or to play landlords during deflation and depression that could last for a decade or more.

I don’t think some of you understand what is coming if the FED is ready to pay the PIPER for this DEBT orgy since 2001.

But I’m already sitting on cash. Your whole argument is essentially the downfall of civilization , so by your logic I should buy guns and butter.

[Axxlrod]

Originally Posted by C2BP

You people really don’t get it. If the FED is serious this time to pay the PIPER that means the PARTY is over and the era of cheap money, ZIRP and our FED suppressing interest rates will end for ever. There won’t be another return to these price levels and return to cheap money and ZIRP. If the FED is finally ready to capitulate and admit that ZIRP and Qe are NOT working, that suppressing interest rates to protect old debt is not working than this crazy experiment will never be repeated again and those upcoming financial losses in asset prices due to deflation and depression will be permanent. You will never see those overinflated and crazy bubble prices of today. Rents will be cut and half, housing prices will
be cut in half, education cost, healthcare cost......all prices will come down back to earth so that ordinary Americans can afford them again.

No one will care playing Landlords and Slumlords once our currency is STRONG. Why would you buy depreciating asset....real estate in higher interest rate environment when you can just keep your money in your savings account and collect 5% and up interest? By holding cash and in this case STRoNG US Dollar due to higher interest rates everyone will want what you have. No one will care about real estate that much or to play landlords during deflation and depression that could last for a decade or more.

I don’t think some of you understand what is coming if the FED is ready to pay the PIPER for this DEBT orgy since 2001.

Nobody wants to be the party-pooper. Including Biden. The train will just keep on rollin...

[C2BP]

Originally Posted by NYSD1995

But I’m already sitting on cash. Your whole argument is essentially the downfall of civilization , so by your logic I should buy guns and butter.

Some of us who understand how economic cycles work KNOW that both cycles need to be honored.......Inflation and Deflation. Our economy was supposed to deflate from 2001-PRESENT. Deflation means a deflation of debt. Instead the FED chose to protect DEBT and try to avoid or at least delay the very real pain of deflation. Now the FED has hit the DEBT WALL -Inflation is telling us that repressing interest rates to protect debt has a real cost.
Now the deflation begins. 300% total debt to GDP must be cut to about 130%. In 1929-1947 it took a global depression and a World War to accomplish this. It is a time of destruction and darkness by definition so yes we may have a Civil War or WW3 and maybe you should own a gun.

Good Luck!

[C2BP]

Originally Posted by Axxlrod

Nobody wants to be the party-pooper. Including Biden. The train will just keep on rollin...

The FED has hit the DEBT Wall and they have also lost control of inflation. The FED has no choice now but to raise interest rates and slow down this zombie economy.......recession.....deflation.......depres sion......destruction of debt.

[NORTY FLATZ]

Originally Posted by NYSD1995

But I’m already sitting on cash. Your whole argument is essentially the downfall of civilization , so by your logic I should buy guns and butter.

You should have received this memo 15 years ago. Dunno about butter, but ammo, now that's a commodity that's hard to come by now-a-days.