“Big trouble” for US housing market

That’s deep.

Yeah but it started at $35,000.😂

That's when you buy 20 of them at a time. And don't sleep on over 55, very low wear and tear, hell most of them take care of the small stuff themselves just to have something to do and most of the time it's a 5-10 year stay, minimum. They usually only move once, they generally get along with their neighbors and unless you get a hoarder keep the place looking nice.

i did some business in Detroit in 2010-2012, you could get a house for $8000. I figured I could use my credit card to buy a whole block. I didn’t once I learned the market there. I bought a pool of delinquent Detroit Notes from HUD in 2010 that included a couple of completed foreclosures. One of them was a half burned down house that I sold to a local realtor for $100.00, one hundred dollars. I made $105, 000 profit on that deal. Numbers dont add up? The secret is disclosed in my seminar. Just kidding about the seminar not the $100k profit or the $100.00 sale price. It was beautiful.

Thanks, I want to keep a place in LV. So much going on up there. The sports scene was taken to another level with the Raiders and that hockey team. Just a matter of time before nba and mlb moves in (nba will be first). Lots of college bball, and of course the pac12 fb champ game (Lsu/USC in ‘24 opener). New venue for concerts which supposedly will be the finest in the world (located on the venitian property I think). Lastly, the restaurants. So many good ones... Also, over the last few weeks I’ve heard a few “experts” forecasting lower interest rates by the end of the year. Really? That might work for me if it actually carries over to early/mid 24, when I plan on jumping in. High rates are actually good for me right now. CDs are paying 4.7%. Some lol at 4.7, but not bad when other are losing. Also nice to live for free. That’s a first for me.

I just don't like the lack of manufacturing in those areas. Most of the growth is service related, supermarkets, restaurants, things like that. The money can only stay in the local system so long before it gets sucked out by the big national or international guys, and that is when things are good. If SHTF the new main streets will close ASAP. You need engineers, you need project managers. You need Aerospace and Defense. A pit boss or a shift leader at Applebees will not keep the wheel a' spinning. Also, the huge increase in things like supermarkets and such means that there are a ton of new houses being built, which will be your rental competition when they all sell to sharks and it renters will jump like college players chasing NIL. I am sure I will have people say I am wrong on this, but I have a plan and a way I like to do it, it has worked out well so far, so gonna keep at it. There is a lot more that goes into it obviously, but this is the main reason why I don't like those areas.

Looking at the employment base in a geographic area is a solid way to think through an investment in real estate. For a long time that’s what held back the Inland empire. The people living in the IE outlying areas worked in LA. I think Wal mart is the 2nd biggest employer in the Boise area. Those are low paying jobs. Manufacturing can be tricky because historically those jobs get eliminated early in recessions and those workers have a harder time finding a job. Same with construction jobs, which are good paying gigs. I look at areas where there has been a lot of new construction as vulnerable as well. LV checks a lot of boxes in terms as likely to be hit hard in a downturn.