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Started By
Message
re: Home prices are dropping...still nobody buying.
Posted on 3/31/25 at 6:24 pm to Fat and Happy
Posted on 3/31/25 at 6:24 pm to Fat and Happy
quote:
Still not interested in buying a house at 7% interest rate
We had a 6.75% rate 20 years ago. That's not really that high of a rate from a historical perspective. The past 15-16 years have been the exception to the rule minus the last year or two.
2
Posted on 3/31/25 at 6:29 pm to sidewalkside
What does it matter when Interest are high, Property taxes going up yearly and Insurance thru the roof.
Posted on 3/31/25 at 6:54 pm to F1y0n7h3W4LL
I made this same thread basically today on the Money board, and all the old timers there Big Timed me, telling me I was an idiot
Posted on 3/31/25 at 6:55 pm to sidewalkside
Houses selling left and right in my area above asking. (Northern Ohio)
Posted on 3/31/25 at 6:56 pm to sidewalkside
Values up 5% yoy. Trillions in volume but yeah nobody is buying or swlling 
Posted on 3/31/25 at 6:56 pm to Harry Rex Vonner
quote:if the shoe fits
telling me I was an idiot
Posted on 3/31/25 at 6:57 pm to Harry Rex Vonner
quote:
telling me I was an idiot
Well you and the OP are
Posted on 3/31/25 at 7:11 pm to Hodag
As of March 27, 2025, US GDP is at a current level of $29.72 trillion. This represents a 1.19% increase from the previous quarter and a 5.04% increase from one year ago.
Here's a more detailed breakdown:
Current GDP: $29.72 trillion
Change from last quarter: Up 1.19%
Change from one year ago: Up 5.04%
Source: YCharts
Real GDP: Real GDP increased at an annual rate of 2.4 percent in the fourth quarter of 2024.
Real GDP Growth: The increase in real GDP in the fourth quarter primarily reflected increases in consumer spending and government spending.
Imports: Imports, which are a subtraction in the calculation of GDP, decreased.
Source: U.S. Bureau of Economic Analysi
Above is Google AI result...
Here's a more detailed breakdown:
Current GDP: $29.72 trillion
Change from last quarter: Up 1.19%
Change from one year ago: Up 5.04%
Source: YCharts
Real GDP: Real GDP increased at an annual rate of 2.4 percent in the fourth quarter of 2024.
Real GDP Growth: The increase in real GDP in the fourth quarter primarily reflected increases in consumer spending and government spending.
Imports: Imports, which are a subtraction in the calculation of GDP, decreased.
Source: U.S. Bureau of Economic Analysi
Above is Google AI result...
Posted on 3/31/25 at 7:13 pm to sidewalkside
Too bad you declined to bet..
I would've made easy $$$$
I would've made easy $$$$
Posted on 3/31/25 at 7:14 pm to Galactic Inquisitor
quote:
This is twice Orange Man has wrecked the economy, but he wants to do it 3 times now.
holy shite you're stupid
Posted on 3/31/25 at 7:19 pm to gumbo2176
clean the hardwood floors with Pine Sol
Posted on 3/31/25 at 7:25 pm to sidewalkside
The large group of people who are locked in on a sub 3% interest rate home mortgage would only be buying a new house and mortgage because they HAVE to, not WANT to.
Now, what % of home purchases fall into either of those 2 categories is unknown to me.
Now, what % of home purchases fall into either of those 2 categories is unknown to me.
Posted on 3/31/25 at 7:27 pm to Galactic Inquisitor
quote:
This is twice Orange Man has wrecked the economy, but he wants to do it 3 times now.
i’ll say it again. you’ve lost the plot GI. seek help.
Posted on 3/31/25 at 7:27 pm to dgnx6
quote:
In 2022 you were also told to ignore every relevant stat saying we were in a recession.
The 2022 recession met the parameters of a recession because there were two quarters of decreased GDP. It was also coupled with low unemployment, high demand for workers, skyrocketing wages, and stable home values if not increased home values in many markets. Not your typical recession.
My guess is Q1 GDP will prolly be lower than last quarter but we’re still far away from Q2 data.
Another characteristic of 2022 was that demand for non-essentials remained very high. Today, for the first time since Covid many of our travel companies were downgraded. Hotels, airlines, and restaurants all saw their first decline in forward sales since Covid. Some people will claim that is the credit bubble starting pop and some will say people fear an uncertain economic future. It is possibly both?
Posted on 3/31/25 at 7:29 pm to East Coast Band
We are definitely in this boat. We'd double our mortgage to downsize.
Posted on 3/31/25 at 7:32 pm to fallguy_1978
What were the home prices and cost of living as it related to wages?
Not sure where to get the information but I'd imagine "prices dropping" doesn't mean dick when they were ridiculously inflated.
Not sure where to get the information but I'd imagine "prices dropping" doesn't mean dick when they were ridiculously inflated.
Posted on 3/31/25 at 7:36 pm to dragginass
quote:
We had 2 consecutive quarters of falling GDP, which in fact defines recession. Yet Biden and his puppet masters tried to say we were not in a recession, and tried to use "alternate facts" to convince us otherwise. So the poster was spot on, and you mocking otherwise looks retarded.
Yet the economy was on fire. I really don’t know anyone that didn’t make more money post COVID than pre COVID.
Not often you see a recession that is coupled with plentiful high paying jobs, increased home values, and a bull stock market. Not to say that Sept and Oct 2022 wasnt a bit rough on some sectors in the market. BRK A that is now at $8k per share was down to $400k per share back then.
Posted on 3/31/25 at 7:41 pm to dcrews
quote:
What were the home prices and cost of living as it related to wages?
In 2005 they were inflated relative to the time, but probably not quite like now.
We sold that house for less than we paid for it 9 years later. Inventory wasn't as much of an issue back then, and obviously 2008 imploded most markets.
Posted on 3/31/25 at 7:51 pm to Chucktown_Badger
quote:
continuing to save/wait until the right deal comes along
I hate to break it to you, but nothing a desirable area is going to drop. Plateau for a while? Maybe.
Posted on 3/31/25 at 7:51 pm to Harry Rex Vonner
quote:
clean the hardwood floors with Pine Sol
Better yet, have you ever heard of a product called "Odo Ban" that Home Depot sells? Mix half that and half Pine Sol and you've got a great fragrance profile that makes a house smell fresh and clean.
My sister-in-law turned me on to that combination and she, at one time, had 7 dogs and 13 cats in her house and it really wasn't that noticeable, except for the damn pet hair.
Yeah, she's the cat lady of Slidell.............
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