It’s starting guys …

[COCA COLA COWBOY]

This report regarding the the top 25 overvalued real estate markets in the country is interesting. Look who made the list.

Here are the top 25 most overvalued housing markets in the US

Homes in 97% of cities in America are overvalued, according to Moody’s Analytics, with the most overvalued markets seeing homes priced at 50% to 70% more than they’re worth. But how long will this last?

www.fox7austin.com

Yup, this is what the economists have stated about the "Conservative Bubble."

 

[hallett21]

Lol flint Michigan and Havasu are on the same list. One you cannot safely drink the water the other is on the main water supply to 5 states.

Coeur d’Alene Idaho is another that I don’t buy. There’s serious money up there now.

Comparing the historical norms works on the overall. But a lot of places are filled with and continue to fill with people who are liquidating and moving to greener pastures.

There certainly will be a problem with the workforce affording homes but the same could be said for Jackson Hole, Vail etc.

 

[Happy Smitty]

I'm a general contractor working in Phx, Texas, SLC, and soon socal. From my perspective I'm not seeing it. I'm hearing a lot of chatter about a downturn but nothing in my industry shows it.

 

[HNL2LHC]

I'm a general contractor working in Phx, Texas, SLC, and soon socal. From my perspective I'm not seeing it. I'm hearing a lot of chatter about a downturn but nothing in my industry shows it.

Just went into A company that used to buy from us. They have not for a few years working in a different segment of construction. They do TI, Commercial, state & hotel. They said that they are dead. Barely keeping afloat the past two years. What a shock I just ran the numbers for this year back to 2020 and we have experienced 72% growth in the three years Including forecasting the remainder of this year. I am so thankful that we went into the direction we did and started cutting out that segment of our workload.

 

[Havasu blue label]

Not yet old money is always doing something

 

[Havasu blue label]

i did post havasu will decline 50 percent .

 

[shintoooo]

Labor shortage will get fixed soon

Carvana to cut 2,500 staff as it struggles with overcapacity | TechCrunch

Carvana, a used-car retailer in the United States that raised at least nine figures worth of venture capital while private before going public, announced 2,500 layoffs today.

techcrunch.com

 

[kurtis500]

Mortgage delinquencies drop to another low!

In the CoreLogic Loan Performance Insights Report released today we get insight into the housing delinquencies through February 2022.
The number of delinquent mortgages fell from 3.4 to 3.2% (this includes all mortgages, including those in foreclosure). Seriously delinquent mortgages (90+ days past due) fell from 1.8% to 1.6%. Foreclosures rates are at multi-decade lows dropping from 0.3% in February 2021 to 0.2% in February 2022.


View attachment 1114508 View attachment 1114509

How did COVID impact those stats?

 

[kurtis500]

Labor shortage will get fixed soon

Carvana to cut 2,500 staff as it struggles with overcapacity | TechCrunch

Carvana, a used-car retailer in the United States that raised at least nine figures worth of venture capital while private before going public, announced 2,500 layoffs today.

techcrunch.com

Wow, thats a Tempe based company. i wonder how many will be from the Phoenix area... bummer

 

[FCT]

You’re right, boat shamming does not take place in Parker. I don’t think my little Mastercraft is too bad to park next too. It’s not a DCB or MTI but I guarantee that I have a smile on my face running this beater. View attachment 1114284

Who gives a shit what anyone thinks. The best boat is a paid off one and at the end of the day it does the same damn thing. You’re on the water loving life

 

[OldSchoolBoats]

How did COVID impact those stats?

I would guess not at all since the stats are from February of 2022.

 

[kurtis500]

I would guess not at all since the stats are from February of 2022.

I thought it had a stat for Feb 2021 on the chart? Am I seeing this wrong?

 

[DWC]

This report regarding the the top 25 overvalued real estate markets in the country is interesting. Look who made the list.

Here are the top 25 most overvalued housing markets in the US

Homes in 97% of cities in America are overvalued, according to Moody’s Analytics, with the most overvalued markets seeing homes priced at 50% to 70% more than they’re worth. But how long will this last?

www.fox7austin.com

Looks like they took the list of largest increases over the last 2 years and made it into “overvalued” list.

 

[regor]

What could go wrong?

 

[Done-it-again]

View attachment 1114724

What could go wrong?

Nothing, until lots of jobs are lost.

 

[DrunkenSailor]

What does it mean when you have recession and inflation at the same time? Now we aren't making any money, but everything is worth a bazillion of worthless dollars?

RD

Germany 1930. A wheelbarrow or duetche marks buys a loaf of bread. Hitler finds his in.

 

[just_floatin]

Insert part C and crash goes the economy.

 

[TPC]

I hope whatever happens hurts the 81 million idiots the most. Unfortunately, they're either dead or too stupid and will vote the same way again this November and in 2024.

Biden is a convincing liar. Joe has all the confidence-in-speech-tricks down pat in spite of his senility. The idiot cards help.
He won't run again and they'll call any opponent a Trump.

 

[TPC]

What does it mean when you have recession and inflation at the same time? Now we aren't making any money, but everything is worth a bazillion of worthless dollars?

RD

If we roll into deflation it can be really fucked for a long time.
Read up on that:

Why Is Deflation Bad for the Economy?

Deflation is not normally bad for an economy, except when it occurs in reaction to previous over-inflation.

www.investopedia.com

 

[Havasu blue label]

The us is not Japan

 

[TPC]

The us is not Japan

What does that tell you?

 

[2Driver]

I heard that Zillow in their quarterly conf call indicated that things have come to an abrupt slow down.

 

[NicPaus]

At my Realtors house now. She said that it has went quiet. All the Realtors in her office have said the same.

They did say the 15k homes for sale would have to hit 60K before it becomes a Buyers market. Said October and November will be the turn from sellers to buyers market.

 

[Bpracing1127]

Friend of mine sells in KY he is way down on sales right now. Lots of activity but actual closings is way down

 

[rivrrts429]

What does that tell you?

Maybe he’s referencing Japan’s “lost decade” of a flat economy?

 

[Havasu Surfer]

I have never encountered the boat shame thing. I don’t really think it is a thing down in Parker..

Can’t say I have ever been in a beater in havasu, but I could see it up here because there is so much keeping up with the joneses

If things get bad I’m gonna sell it all and track down this guy.. I will be the guy dressed as capt jack sparrow kinda hanging off the side

Note I didn’t take this pic to poke fun.. I was thinking how cool it would be to have something like this.. lol View attachment 1114281

It’s all about perspective. I have always stated that there all just big Coolers at the end of the day. This coming from a guy who used to remove the front storage bin of our Jetski, line the hull with a large hefty bag, fill it with 20 pounds of ice and a 30 pack and hand out beers all day at the sandbar back in the 90’s.

 

[spectra3279]

Lol flint Michigan and Havasu are on the same list. One you cannot safely drink the water the other is on the main water supply to 5 states.

Coeur d’Alene Idaho is another that I don’t buy. There’s serious money up there now.

Comparing the historical norms works on the overall. But a lot of places are filled with and continue to fill with people who are liquidating and moving to greener pastures.

There certainly will be a problem with the workforce affording homes but the same could be said for Jackson Hole, Vail etc.

Vail isn't the whole state though. Housing in komifornia is stupid high, like Tommy Chong on a giraffe high

 

[c_land]

YOY inventory up nationally for the first time since 2018(?) this week.

But there's a LONG way to go until normal. Inventory currently down 56%, 65% compared to 2019.

Phoenix trend looks like its getting weird for 2022.

Thinking to see prices fall in the short term, we would need a flood of inventory. That would be foreclosures (unlikely), demand being striped significantly/abruptly, more new construction coming online at once, or a combination. Fed seems to be doing their worst on demand, and there is the most new units under construction since the 70's.

We live in weird times for sure.

 

[Bigbore500r]

Friend of mine sells in KY he is way down on sales right now. Lots of activity but actual closings is way down

I read "My friend sells KY" and it all went south from there... lol

 

[Cdog]

I read "My friend sells KY" and it all went south from there... lol

 

[Mandelon]

A cool down in real estate is a good thing. It is too hot. It can't keep going at it's current rate. Hopefully a few bumps in the interest rates will bring some sense back into the market. I don't think we are looking a some giant crash, just a lot more sense on behalf of the buyers.

Do we want our properties' values to keep going up to stratospheric levels? Of course! LOL Common sense says this can't continue.

 

[Cdog]

I keep saying it.... A retreat to 2018-2019 pricing makes sense.

 

[Englewood]

I keep saying it.... A retreat to 2018-2019 pricing makes sense.

Same...Give back COVID gains. 6% rates will do that.

 

[2FORCEFULL]

we'll doing my part... open escrow on a havasu home today...