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Real estate prices continue their climb

Crazy. Just saw on the news where a buyer paid $1mill above asking price on a house in the Bay Area. Listed for $1.3 received 70 cash offers sold for $2.3. Fawking morons, watch them cry later and ask for debt forgiveness. If you own some California dirt and your plan is to cash out and leave Cali, this is a really good time. I want to buy some more, but too many desperate dumb people driving prices up. Millions have asked for COVID payment relief and are delinquent on their mortgage rite now. Millions behind on rent too. im Running around with a needle looking to burst that bubble.

9 comments

9 Comments

Java

Nov 04, 2023

I'm thinking of buying a building in the ie.

But prices are 50-100% higher than when I looked in 2021 and 22. Why? Isn't the commercial market soft right now?

Should I loan my company the money and them buy it? Or should I buy it and then lease it to my company?

BigBallss

Nov 04, 2023

Replying to

Yeah. Those low rates and trillions pumped into the economy did a number on real estate prices.

Java

Nov 04, 2023

Replying to

My broker predicts flat prices or a 5% decline in 24. And then flat on 25 then up 10% each year 26 and 27.

Problem is I'm not seeing it. Maybe flat to where we are now but we are 50% higher in the market I'm looking

But my landlord is just wasting my money now. Hate it.

Would you buy as me or as the company?

Are 1031 exchanges only used when you sell for the first tjme? Not skmetjkntbinckncern myself with as a buyer?

BigBallss

Nov 04, 2023

Replying to

I would buy as a company, maybe an LLC ( easier to borrow). I think your broker is likely accurate. Just like in residential the big crash does not seem likely. I think prices will be flat for 5-7 years. 1031 exchanges don't have a limit you can do them any time. A 1031 is for the benefit and concern of the Seller. As a buyer your only concern is when you can get possession because the Seller can't close until he finds his replacement property, although he will be on a irs imposed deadline. Iwould look to buy but also be picky on the right property and terms.

Edited

BigBallss

Feb 16, 2022

yep, greed always wins and banks never learn. The taxpayers wallet is their safety net. Been that way since the late 80’s. Boom = huge profits, Bust= government bailouts

August West

Feb 12, 2022

Bubble. Greedy banks are going to be back in the real estate biz. Not good.

BigBallss

May 05, 2021

Real estate prices up another 11% year over year. cha-muthafawking-ching. Idaho leads the nation in price increases. Californians cashing in and driving prices up in the poorer states. No crash on the horizon. This bubble is being made bigger by government monetary policies. Free flowing mortgage credit but only to well qualified applicants, unlike the last bubble in 2008. Stimmies, low rates, prohibit loan servicers from foreclosing on delinquent borrowers. Foreclosures are at their lowest EVER while 11 million households are delinquent on their mortgages. That doesn’t square. Loan mods v2.0 are coming. This crash is coming. like the end of our existence on earth just a question of when and how. what a ride.