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Originally posted by sonatine
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Black rock has been a major buyer in So Florida. The supply of single family homes is next to zero. We had a house sell in a week for 50K over asking. It’s bonkers. I can’t see a “real person” snap buying this house for this price.
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guys color me cynical but i feel like maybe MAYBE banks and hedge funds might not turn out to be great property managers.Comment
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word around the campfire is that the moratorium (there will be another clever euphemism after all the court cases) will be extended another 30 days.Originally posted by sonatine View PostComment
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I am not being hyperbolic.Originally posted by sonatine View Post
The institutional money is the dumb money. This is nearly always true. While surveying the landscape keep this in mind. Generally, in all facets of finance they are slow and late.
this bit of country wisdom has served me well.
i see you already are aware of this Sonatine (Premature Accumulation Transitory Microinflator)
but to your point, best way to improve YoY is to skimp on maintenance. capital improvements have a particularly deleterious affect on careers.
remember always... these properties will never be soldComment
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Thx for the tip on that account. Tine
my parting thought is how fucked over the millenials have been by an endless series of events and circumstances. you want them to be homeowners and rooted in the community. to have kids before their hair turns gray.
as the boomers hand off the baton to the millenials their politics will be felt. it’s gonna be vastly different than the post war boom. to think it’s gonna be business as usual after Biden is a serious misreading of the room.Comment
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This is a whole thread on its own.Originally posted by Sanlmar View Post
seems like the 40 somethings I know (myself included) are ready to send the kids off, pay off the house and start saving.
seems like the thirty somethings I know most haven’t even got to the house purchase stage.Comment
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H-hey guys
why did the 10 year note crash through 1.40% today. I see 1.37%
I suggest you pull up a chart and explain to me WHY in an allegedly inflationary environment this happened. Or are you gonna make me work this out on my time?
who is going to cash? What do they know?
of course, because shit is fucked up…. these days you gotta ask what might the government be doing?
Make sure you are leaning the right way SonatineComment
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may be relevant may be not but apparently biden fired some top mortgage goon and the dems are presh'ing him to put someone in who will increase access for low income buyers.
how/why a 'low income buyer' should have enhanced access to mortgages is another conversation of course. preferably in 2007.Comment
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Quick aside ….
calls for oil over $100 ($77 now). OPEC scuttling meetings indefinitely. They are in no rush to put supply on…. That’s inflation buddy
I need some time.Comment
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i dont know _what_ the fuck is about to happen in new zealand but its finna be interesting and economically violent...
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Price to rent ratios were a leading indicator in the previous bubble. These ratios are done in an unusual manner and I’m curious where this is from. It’s usually median house price/median annual rental. 15 is a fair result.
Canada is puzzling.
do landlords get some kinda big government break?
good stuff thereComment
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Try to get a HELOC or a personal line of credit now. Prolly not happening. It’s just not worth the banks while anymore. You cost more than you earn them at today’s interest rates
that is the Fed’s fault. With low interest rates and the Fed issuing digital dollars look forward to the Fed just doing those loans themselves and using dirtbag banks like Wells Fargo as the plumbing. Just wait.
I specifically remember telling people to open up these lines of credit last year. Did you listen?
it’s getting tighter out there.Comment
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