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| 07:26 PM | ||
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| 07:26 PM | ||
Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. | |
| Anonymous Coward User ID: 72262474  United States07/12/2022 10:53 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 81052629 United States07/12/2022 10:57 AM Report Abusive Post Report Copyright Violation | |
beeches
 User ID: 78973486 United States07/12/2022 10:59 AM  Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. The wheels are starting to shake hang on peeps. Quoting: Mithradates [link to www.cnbc.com (secure)] My area "Tennessee" was booming but lately I see several foundations formed but all other work has stopped. That tells me the buyer have backed out or the builder see's what's coming. A few around me as well here in the western piedmont of NC. New construction everywhere and people buying them up like crazy and now nothing but roughed in and unfinished houses, like work literally just stopped on them over the last 2 months I would say.  Central NC here and all I see is new 'luxury' apartment complexes going up like gangbusters. Upcoming housing/RE crash is gonna' leave a mark, just like 2008 did. yep same here in East Tennessee seems few younger people want a small "starter home" when they can live in an 'upscale' apartment complex with amenities galore. Liberalism is totalitarianism with a human face – Thomas Sowell |
| Anonymous Coward User ID: 80362194 United States07/12/2022 11:03 AM Report Abusive Post Report Copyright Violation | |
| Mithradates
(OP) User ID: 2701704 United States07/12/2022 11:05 AM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. The wheels are starting to shake hang on peeps. Quoting: Mithradates [link to www.cnbc.com (secure)] My area "Tennessee" was booming but lately I see several foundations formed but all other work has stopped. That tells me the buyer have backed out or the builder see's what's coming. A few around me as well here in the western piedmont of NC. New construction everywhere and people buying them up like crazy and now nothing but roughed in and unfinished houses, like work literally just stopped on them over the last 2 months I would say. Central NC here and all I see is new 'luxury' apartment complexes going up like gangbusters. Upcoming housing/RE crash is gonna' leave a mark, just like 2008 did. yep same here in East Tennessee seems few younger people want a small "starter home" when they can live in an 'upscale' apartment complex with amenities galore. Apartment living is not my thing but to each their own. Both the wife and I love being out in the countryside. Did I use "their" right lol |
| Mithradates
(OP) User ID: 2701704 United States07/12/2022 11:12 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 83838091 07/12/2022 11:13 AM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. Part of what happened is that people hear about these hot wealth pockets then local realtors try to market places that have no major market appeal. Those places will drop. Most Florida markets will drop because so many areas of Florida are undesirable and devoid of any culture. Quoting: Feathery Nashville slowed down because all they built was ultra luxury homes. It's still red hot and there is no inventory. The average home price in my neighborhood is 1.5 million. "No culture" You are the reason this country sucks |
| Anonymous Coward User ID: 76815515 United States07/12/2022 11:22 AM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. Yup. I'm a Realtor in FL. Watching the tides turn as we speak. No more multi-offer home sales. Most homes are sitting on the market for days now. Some sellers still think they can get top dollar and are listing them way too high, so I see price drops constantly. Quoting: The Real Mi For the cash buyers, this is a good thing because the prices are coming down to something rational and reasonable. Going from $1,200,000 down to $800,000 (for a $150,000 house) is not reasonable or rational. The average wage in US is $51,000. |
| Anonymous Coward User ID: 83778391 07/12/2022 11:27 AM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. Yup. I'm a Realtor in FL. Watching the tides turn as we speak. No more multi-offer home sales. Most homes are sitting on the market for days now. Some sellers still think they can get top dollar and are listing them way too high, so I see price drops constantly. Quoting: The Real Mi For the cash buyers, this is a good thing because the prices are coming down to something rational and reasonable. Same here in Colorado. My fellow agents are not informing the clients how long their home will sit. They list at ridiculous prices. |
| Feathery
User ID: 41363534 United States07/12/2022 11:31 AM  Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. Part of what happened is that people hear about these hot wealth pockets then local realtors try to market places that have no major market appeal. Those places will drop. Most Florida markets will drop because so many areas of Florida are undesirable and devoid of any culture. Quoting: Feathery Nashville slowed down because all they built was ultra luxury homes. It's still red hot and there is no inventory. The average home price in my neighborhood is 1.5 million. "No culture" You are the reason this country sucks Screw you, jackass bitch. Who want to live in the middle of a Swamp in a tralior park 50 miles from anything? If you want to live that way fine. What do you call culture, piles of cow shit?Mudding? I'm tired of the low brow America culture. Some of you have never even seen picture of Italy or France. You don't even know what high culture is. Just fuck you. I've lived in Florida many times, I was just there. For the most part it's a horrible place, devoid of any high culture at all. You a have few pockets of nice places like St Augustine, Boca, that's it. Most of it is awful. Tomfoolery |
| Anonymous Coward User ID: 80362194 United States07/12/2022 11:34 AM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. Part of what happened is that people hear about these hot wealth pockets then local realtors try to market places that have no major market appeal. Those places will drop. Most Florida markets will drop because so many areas of Florida are undesirable and devoid of any culture. Quoting: Feathery Nashville slowed down because all they built was ultra luxury homes. It's still red hot and there is no inventory. The average home price in my neighborhood is 1.5 million. "No culture" You are the reason this country sucks Screw you, jackass bitch. Who want to live in the middle of a Swamp in a tralior park 50 miles from anything? If you want to live that way fine. What do you call culture, piles of cow shit?Mudding? I'm tired of the low brow America culture. Some of you have never even seen picture of Italy or France. You don't even know what high culture is. Just fuck you. I've lived in Florida many times, I was just there. For the most part it's a horrible place, devoid of any high culture at all. You a have few pockets of nice places like St Augustine, Boca, that's it. Most of it is awful. 100 percent correct. Only low IQ bullshit culture |
| Anonymous Coward User ID: 83270426 United States07/12/2022 11:34 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 82500596  Cambodia07/12/2022 11:41 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 43342392 United States07/12/2022 11:43 AM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. We were having a house built. Took about a year to build it. We did the drywall inspection and that same day they came back and wanted $40,000 more for “material costs”. When we asked them for some examples, they sited lumber, concrete and roofing supplies…..the house was already standing!?!? We walked. Overall, they raised the price $100K over the course of a year. Started at $320K, final price when we walked was $420K. Quoting: glp-smilies This happened to other people we knew. We had friend that were at final walk through phase, where you go through and mark all the little nit picking stuff. The builder said those nit pickings (like scuffs in the paint) for irreconcilable and canceled the contract. Then turned around and relisted the house for substantially more. The housing market is a scam right now. If you can wait it out, I suggest you do that. That house we had built. It’s was $320K 18 months ago. They same model is now $496K. And the interest rates are almost 3 points higher than they were 18 months ago. F ‘em. Good God. I know a few people getting new homes built. Shoddy work is an understatement. These folks thought a new home would be problem free and are getting a huge reality check. I'd be super pissed shelling out big $ for such junk. Better off buying something built 10 years ago. Around here most new construction has slowed down all I see here still going up are the very high end homes. But them apartments I see them building them like mad. Almost like they do dollar generals down here in the south lol. |
| Anonymous Coward User ID: 83516054 United States07/12/2022 12:26 PM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. Friend was in contract to buy a coop in NYC. Friend paid full price but, it was still a nice deal. Friend was notified by the coop board that they did an appraisal on said apartment and that they were changing the purchase price upward by $28,000.00. Now friends mortgage broker says the bank won't give the mortgage on the new sale price and everyone is telling friend that they will get a check for that twenty eight grand at closing but just let the higher purchase price go through. Friend is freaking out cause they think this is fraud. Have no idea what to advise friend. |
| IJustLurk
User ID: 83747430 United States07/12/2022 12:27 PM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. |
| Butch DeFeo
User ID: 83141632 United States07/12/2022 12:34 PM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. We're looking for a house and need one within a month or two, which sucks for us. I've been browsing the online market and seeing 4 bed 4 bath homes at 700k-900k, absolutely insane. About a month ago they were in the 450k range. They're not even that modern or renovated either. The houses we did see that fits what we were looking for and were reasonable for the price are suddenly going "off market". Quoting: IJustLurk Rent for now. :DOCSRBAFFLED::redblueLED::DONTBEAPANDEMICS: Only you can stop the fake pandemic for yourself, no one will ever tell you the pandemic is over. It's time to WIN. |
| Anonymous Coward User ID: 83040717 United States07/12/2022 12:36 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 76970514 United States07/12/2022 12:36 PM Report Abusive Post Report Copyright Violation | |
| Butch DeFeo
User ID: 83141632 United States07/12/2022 12:38 PM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. Friend was in contract to buy a coop in NYC. Friend paid full price but, it was still a nice deal. Friend was notified by the coop board that they did an appraisal on said apartment and that they were changing the purchase price upward by $28,000.00. Now friends mortgage broker says the bank won't give the mortgage on the new sale price and everyone is telling friend that they will get a check for that twenty eight grand at closing but just let the higher purchase price go through. Friend is freaking out cause they think this is fraud. Have no idea what to advise friend. Quoting: Anonymous Coward 83516054 If it was in contract, then the seller should not be able to change the price. Sounds like it was not really in contract yet, for them to be able to raise the price. Why would friend get a check for the 28 grand after buying? Tell friend to challenge the "raised price". They can't do that if there is already a contract. Your friend, the buyer, can SUE them. Sounds like the seller and their agent are idiots or fraudsters. If I was your friend, I would have my agent tell the selling agent that their raising the price of the property is illegal and against the contract. Friend should tell them to leave the price as original price, or friend will sue them. Last Edited by Butch DeFeo on 07/12/2022 12:44 PM :DOCSRBAFFLED::redblueLED::DONTBEAPANDEMICS: Only you can stop the fake pandemic for yourself, no one will ever tell you the pandemic is over. It's time to WIN. |
| Anonymous Coward User ID: 83822062 United States07/12/2022 12:38 PM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. Yup. I'm a Realtor in FL. Watching the tides turn as we speak. No more multi-offer home sales. Most homes are sitting on the market for days now. Some sellers still think they can get top dollar and are listing them way too high, so I see price drops constantly. Quoting: The Real Mi For the cash buyers, this is a good thing because the prices are coming down to something rational and reasonable. Not in California! Next door to me and down the street bidding gave the home owners $$$$! |
| Anonymous Coward User ID: 76469821 United States07/12/2022 12:39 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 79652504  Germany07/12/2022 12:46 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 83793530 United States07/12/2022 12:46 PM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. Part of what happened is that people hear about these hot wealth pockets then local realtors try to market places that have no major market appeal. Those places will drop. Most Florida markets will drop because so many areas of Florida are undesirable and devoid of any culture. Quoting: Feathery Nashville slowed down because all they built was ultra luxury homes. It's still red hot and there is no inventory. The average home price in my neighborhood is 1.5 million. "No culture" You are the reason this country sucks Smoking meth is not a culture. Lack of culture is the root cause of a ton of mental illness. |
| IJustLurk
User ID: 83747430 United States07/12/2022 12:46 PM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. We're looking for a house and need one within a month or two, which sucks for us. I've been browsing the online market and seeing 4 bed 4 bath homes at 700k-900k, absolutely insane. About a month ago they were in the 450k range. They're not even that modern or renovated either. The houses we did see that fits what we were looking for and were reasonable for the price are suddenly going "off market". Quoting: IJustLurk Rent for now. We might but we really don't want to have to get into a contract of renting for a long period of time. It's hard to find apartments that don't make you sign a lease for 6mo to a year. If we did that we would be losing out on some benefits that come with my husbands job. They are paying 2k a month for housing, we would rather it go to a house payment instead of an apartment. |
| Anonymous Coward User ID: 83822062 United States07/12/2022 12:46 PM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. In the past young Americans always had "The American dream of homeownership" not anymore thanks to Hedge fund investors from hell! Greed has come big-time to the United States! And it's not just homes. Water, and other utilities. When I got married in 1969 all utility bills for 7 dollars each! Fk investors! |
| Anonymous Coward User ID: 83665972 United States07/12/2022 12:48 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 80693178 United States07/12/2022 01:05 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 83156583 United States07/12/2022 01:06 PM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. It's a racket.. The Banks and Government get involved, like college, etc.. They have ballooned prices so high a huge loan is needed for 30 years. In this way, Americans are RENTERS not OWNERS.. YOU RENT YOUR HOME FROM THE BANK!! |
| Anonymous Coward User ID: 83820492 07/12/2022 01:13 PM Report Abusive Post Report Copyright Violation | Re: Americans are canceling deals to buy homes at the highest rate since the start of the Covid pandemic. Gotta feel for those that bought in the past year, it could take decades for them to see equity. If we have decades, unlikely. Butch, you should do a poll about how many think the housing market is coming back down because of all the empty houses caused by vaxx deaths. |
