posted ago by LesboPregnancyScare ago by LesboPregnancyScare +7 / -0

What are your thoughts on buying property right now? Speculating it certain areas, especially where I live, inflation and over-valuing are in full swing. The rest of the country will also follow im sure.

Should I wait until the bottom falls out again like in 2008/9, which will happen when? Or should I buy now?

Thoughts?

Comments (14)
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Lurking_Waiting 3 points ago +3 / -0

I am looking into land and shipping crates. Wood is so over priced now I may as well get steel walls.

3
Kekistan_United 3 points ago +3 / -0

imo, the market is showing that people are finally fleeing the cities.

its detroit again and again.

the amount of new license plates i see here, from california and washington...

its funny, when i sold my house. of the thirteen or so bidders...

only 2 had actually sold their homes and were ready to move.

the rest were from out of state, hoping i would wait till they sold their homes

to get into mine... the two actually bidders, gave me six figures over asking...

hope that helps.

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RichardSaunders 3 points ago +3 / -0

what state do you live in?

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Kekistan_United 3 points ago +3 / -0

a red one

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Gr4ck3L 1 point ago +1 / -0

denzelwashington_trainingday.jpg

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Onethirty62 2 points ago +2 / -0

I don’t think the bottom will fall out across the country. Maybe some places that aren’t really in demand may fall back down a bit. If you want to make money off of real estate appreciation, find a market that has a solid economy and is growing.

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Piroko 1 point ago +1 / -0

Speculating it certain areas

You've basically got it right there.

The housing market doesn't overhead nationwide, it does so in specific markets. Will there be a pullback in overheated markets? Yeah, eventually.

But if you're looking at flyover areas... probably not, no.

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LesboPregnancyScare [S] 1 point ago +1 / -0

I understand that. When enough areas, typically metro areas, get too overvalued, the bottom falls out and the rest fall like dominoes.

Places like DC, which have a constant influx of new residents, the bottom didnt really fall out in 2008/9, instead stagnated. Other places, typically more rural or in smaller cities, are barely affected.

I am asking, obviously, when does anyone think the overvaluation and subsequent crash will happen since inflation is on the rise. I am not asking about the how, I know about that already - the inflation and overvaluation. Those are already happening.

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Piroko 2 points ago +2 / -0

In the absence of a black sheep event (actual shooting in the China Sea, etc), I wouldn't expect anything to break the current inflationary trend under this administration.

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Lurking_Waiting 1 point ago +1 / -0

Reason the bottom didn't fall out was the banker bail out. It gave them enough money to leave large number of houses off the market to control housing costs. If the government let the free market work, a fire sale on houses would have happened.

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NOKfan 1 point ago +1 / -0

I have done very well buying at the bottoms and living/fixing there for awhile.

3BR townhouse in MD in 2009, bought for $99k, sold for $125k five years later...Turned that into a five acre farm i bought for $129k which just sold for $230k five years later. Foreclosures with problems. I'm a problem solver. Next time I rob DeutcheBank or PNC (139k still held on the townhouse, at least $180k still held on the farm) I'll wear a mask.

1
What-Me-Worry 1 point ago +1 / -0

Commercial Property is usually quite lucrative. That's my 5 year plan.

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NeoDragoon 1 point ago +1 / -0

Where I am, the prices have been going crazy for a few years, so I've been trying to position myself for when the prices tank with the market.

1
LesboPregnancyScare [S] 1 point ago +1 / -0

When do you think that would happen and why?