Its about to be absolute PANIC in the US Real Estate market !!!!!!!

Please explain it to me like I'm a 12 yo.
What does it mean for the average homeowner in terms of home value, etc?

You do speak "Zoomer" right?

Home prices are a total lie.

Prices are overpriced and they are heading down like a snow storm high in the mountains creating a tsunami.

You said 12 y.o. but I spoke like an American adult.

Drop of 40% to 70% in value

You see… this is the problem.

Grown fat ass man or woman but asking for info like he is 12 yo.
Grow your brain not the ass.

SoCal 818 SFV LA area was 750K now not selling for 350K.
more than 50% down.

My buddy owed 250k remodeled up graded for 100k now he can not sell it for what he has in it!

Brandon did that.

No your retared ass greedy friend did.

OP speaking about world dimensions
and reply comes "what about me me me,
me and my, me and my".

OP please stay until it ripples

They will forgive a significant chunk of mortgage debt, but only to people of color.

good

Blue states will be hit significantly harder than red states by this bubble.

GOOOOOOOOD!!!!

I'm sick of my insurance agent raising my rates because of rebuilding costs. He doesn't care that I'm a builder with a woodlot and sawmill. It would cost me less than $150 sqft to rebuild yet somehow he must insure me for $250 sqft because insurance is a ripoff.

Same with property taxes. I'm gonna be the first one in line at my assessors office asking for a reassessment at the new crashed values. Since it's California not only are they obliged to lower the value, but it will only be allowed to increase 2% from there each year.

Let it crash baby!!!!!!!!

Jewred Lubavitch Kushner

FA-IL!

What color?

Blue and white

Well, you see, son, the prices of houses are going to suddenly go down. Way down. A lot of people have a lot of money tied up in those houses, money that is used to lend to other people to buy other things.

When the price of houses goes down very fast, all that money is gone and so is the money that is borrowed and lent on that house.

This means that businesses, people wanting to buy houses and cars that need to borrow that money, can't, because it is gone. Poof! Like smoke in the wind.

And that means that businesses close, Houses don't get built, cars don't sell, and everyone has less money to spend. For many people they will lose their jobs and have a hard time even getting food when the last of their saving is gone.

There is a lot more to all the things it affects, and how hard it gets for people, but you get the idea.

Bad times. Bad times.

So you were the fool that would make fun of people in school for asking questions.

I did warn him!

. . . . . .. and as the bank base interest rate goes up people will just walk away from their mortgages. Cash will be king for a while before it becomes worthless.

That's just karma

some people have realised their is a

gigantice collapse coming


and they have dropped their price

ie panic sold ( clever tho IMO)

to guarantee a sale before the avalanche hits


a house that was $490 000

got lowered till it sold at $350 000


lots more stories are stsrting to come out


the high end market is gone ie $10 million plus

no more buyers for them

You are a good friend.
No one wants good advice anymore.
They just want to do what makes them happy at the moment, no matter how detrimental it is.

Why wouldn't he care about what happens to his family? derp

LOL