60 % of homes for sale in Boise had price reductions in June.
Sellers getting a dose of reality. And it all totally flipped in the span of 90 days. it takes years to come out of a real estate crash, but I’m always amazed how quick and violent the onset is. That crash in 2008 was not my first but gawd did I get caught with my pants down and my dick in my hand. Fawk. Never again.
These trends are coming to California And to your town too. Be ready to buy, especially when short sales hit. if you bought a house in the last couple of years, get your surfboard and ride out the wave. And hope life circumstances don’t force you to sell. Be smart.
Real estate is for buying, not selling.
Hot out here. Very clean city. No trash, no homeless. Ate at Chandler’s steak house. outstanding food, nice looking women everywhere, although I had only a few opportunities to get good looks))….. I like Boise. Lots of houses for sale. Might be worth revisiting in 2023.
Homeowners in China boycotting mortgage payments. This is going to be interesting. Chinese consumers dont fuck around. Side note, in 2010 I was involved in the purchase of a pool of non performing loans from HUD. It was a nice pool of 1500 residential Florida loans that we bought for less than 60 cents on the dollar ( 60% of current appraised value) . Awesome deal, we made good money. But in that pool were loans in a new tract in St Augustine, Fl where the builder used Chinese dry wall to build the homes. Drywall made in China, which was cheap to buy for the builders. Well, the freaking dry wall was toxic, it corroded pipes and wiring in the walls. The homes were abandoned by the owners. The only way to remediate was to replace all of the drywall. Very expensive. My point, Chinese builders are crooks with only profit in mind and no one in China regulates them. Oh by the way, the builder went BK and skated.