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Sell Off

namba860

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Let the the big sell off begin! I said it once I will say it again. I hit it on the nose a year ago. The amount of homes in Havasu for sale Quadruple since this time last year and price drops galore. I was looking at motorhomes this time last year that were in the 25K price range that are now 18K ish. Boats are not selling, prices are dropping drastically. Glad I have a nest egg siting side to take CC advantage of it.
 

rivrrts429

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The potential of what’s coming I don’t wish on anyone. Let’s hope I’m wrong. It could get brutal for a lot of folks and Havasu will be the first to feel it with how dependent that town is on expendable income.
 

Boat 405

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Lots of factors on this one. None are good. Gonna be rough.
 

Done-it-again

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I want prices to tank so I can pick up a CC. Just don’t think it will happen with a big price drop that people are hoping for. And if it does, pretty sure my business slows down, in a crap economy and I still can’t/won’t fork over the $$$$
 

El Rojo

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I feel there's alot of over reacting to this...correction in homes/toys , ya but only a little bit...keep in mind there's been only two major massive dips in the economy in the last 100 years...the Great Depression and the Great Recession...there are tons of peeps with money on the side lines that will keep this thing moving forward. When I waited to buy a house after 2008 I was faced with the grim reality that I couldn't compete with cash buyers, and banks that wouldn't loan any money out to first time buyers...this situation is completely different...there were foreclosures after 2008 ... some people walked...some didn't...people forget about how peeps got loan adjustments and lived in their houses for years without making a payment...they may have been foreclosed on but not evicted...then there was the whole "shadow inventory" buzz word that never really panned out...lot of you ballers on here think you a few $$$$$$ to maybe catch a deal, but when the real players show up its just gonna push up prices again...
 

HNL2LHC

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Clearly you don’t know the first rule of owning a schiada…. It’s never allowed to leave the trailer.

:)
Hahah, forgive me I was assuming that he was one of the only ballers that actually got his 3 axle Schiada land yacht wet once a century.
 

dnewps

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Be smart...everyone is talking inflation...if that’s true next year...you borrow your ass off and buy hard assets. If it’s deflation...you short the market, sell your shit, use cash to buy it cheap. My crystal ball works as good as yours. Some people will get rich taking a position. You decide
 

Wheeler

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Hahah, forgive me I was assuming that he was one of the only ballers that actually got his 3 axle Schiada land yacht wet once a century.
With all your money I figured that you owned a fleet of Schiada's .

 

Wheeler

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Let the the big sell off begin! I said it once I will say it again. I hit it on the nose a year ago. The amount of homes in Havasu for sale Quadruple since this time last year and price drops galore. I was looking at motorhomes this time last year that were in the 25K price range that are now 18K ish. Boats are not selling, prices are dropping drastically. Glad I have a nest egg siting side to take CC advantage of it.
It's gonna be a fire sale!

 

OldSchoolBoats

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Oh good. I was starting to get worried there wouldn’t be a thread this week about this subject. Pheeewwww.
Seriously and of course it starts out with "I told you all a year ago"........so lame. I am sure IF it actually comes just ever slightly to fruition, these threads will be replaced by the daily. "Should have listen to me 5 years ago"......"called it"........"Where are all the naysayers now"........

I can see it already.
 

Runs2rch

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Seriously and of course it starts out with "I told you all a year ago"........so lame. I am sure IF it actually comes just ever slightly to fruition, these threads will be replaced by the daily. "Should have listen to me 5 years ago"......"called it"........"Where are all the naysayers now"........

I can see it already.
Are you still giving away full tanks of fuel? Hahaha.
 

Mandelon

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The rise in interest rates is having a great impact on real estate sales. Too bad the government tends to over react with their corrections. Driving down the middle would be so much better than slamming from guardrail to guardrail.
 

Wheeler

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Seriously and of course it starts out with "I told you all a year ago"........so lame. I am sure IF it actually comes just ever slightly to fruition, these threads will be replaced by the daily. "Should have listen to me 5 years ago"......"called it"........"Where are all the naysayers now"........

I can see it already.
Rental money is moving out of Phoenix heading west with a couple stops along the way back to the coast. I'll let you know when it passes you by. :)
 

OldSchoolBoats

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I feel there's alot of over reacting to this...correction in homes/toys , ya but only a little bit...keep in mind there's been only two major massive dips in the economy in the last 100 years...the Great Depression and the Great Recession...there are tons of peeps with money on the side lines that will keep this thing moving forward. When I waited to buy a house after 2008 I was faced with the grim reality that I couldn't compete with cash buyers, and banks that wouldn't loan any money out to first time buyers...this situation is completely different...there were foreclosures after 2008 ... some people walked...some didn't...people forget about how peeps got loan adjustments and lived in their houses for years without making a payment...they may have been foreclosed on but not evicted...then there was the whole "shadow inventory" buzz word that never really panned out...lot of you ballers on here think you a few $$$$$$ to maybe catch a deal, but when the real players show up its just gonna push up prices again...
This is RDP bro, don't bring facts and such in here, you should know better.

Funny you bring up the "Shadow Inventory" word, kinda reminds me of all the "forbearance bros" that said the market would be flooded with foreclosures once the forbearances from 2020 expired. That never panned out either.
 

2Driver

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Who could have seen anything coming?

Tech companies with no profit and 50+ PEs
Daily SPAC IPOs up 200%+ without even a formed company - big wtf
NFTs, lol enough said
Bitcoin imaginary money goes up 400%
Homes up 40-100%
Drunken spending on RV, boats, houses
S&P trading at 35 times earnings.

The Fed rate increases, balance sheet run off and fuel prices were the equivalent of hearing that the neighbors just called the cops on the party in January - time to leave.

The real pain is yet to come because the average American consumer ( who can’t spell economics let alone understand it) won’t adjust until they are spent out, fully leveraged and are in trouble meeting obligations.

If you bought in the last 24 months and are sitting on a 3% fixed and don’t have to move anytime soon then enjoy your home and forget all this bull shit. My guess is, hope not, more people are way out over their skis than we think.
 
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Doc

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We will see waves of reactions and corrections. Housing market didn't do arm loans this round. What I think is happening is two things, one the vrbo market is somewhat on sale. People that bought 2 or more properties are probably anticipating with rising fuel costs that there will be a dip in rentals so they figure sell at close to peak of market as rates rise. Second small percentage of people that bought homes to sell as profit doing the same thing. So now you go from a slim housing market to a more saturated market. This combination will drive prices close to pre covid pricing at some point which I think is not really a bad thing.

2Driver makes some excellent points though. The other markets however where just way out of control. Lot's of money was made last few years but that's coming to an end. This is where the concern really needs to be imho not the housing market first.

The Feds feel to fight inflation they need to bring demand down to slow the market but I think it's to late. The other thing is if you slow demand to quickly companies will lay off people which in then will be even worse. Imo, fuel needs to come and supply needs to catch up so prices can go down again. There is no point in having a backlog of work for 6 months if you are worried if you will have the supplies for that jobs in 6 months.
 

petie6464

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I've met a lot of retirees that have bought here in the last couple years, either cash buyers or small mortgages that they can easy pay based on a set income.. they aren't worried.

Then there's my neighbor; Mr. White Plate, with the 100% financed full California package: New gangster house, new Triton, new CanAm new diesel, truck, new roll bar boat. . and Blackstone Griddle🍺

I've got my eye on the truck..🤣
 

Cdog

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I've met a lot of retirees that have bought here in the last couple years, either cash buyers or small mortgages that they can easy pay based on a set income.. they aren't worried.

Then there's my neighbor; Mr. White Plate, with the 100% financed full California package: New gangster house, new Triton, new CanAm new diesel, truck, new roll bar boat. . and Blackstone Griddle🍺

I've got my eye on the truck..🤣
Blackstone Griddle.....LMFAO!!! 😂 🤪 🤣
 

Cdog

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LargeOrangeFont

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...

If you bought in the last 124 months and are sitting on a 3% fixed and don’t have to move anytime soon then enjoy your home and forget all this bull shit. My guess is, hope not, more people are way out over their skis than we think.

I fixed that.
 

Cdog

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Bet they have every Yeti in the product line up.
Yeti on the gulf coast is like the Louis Vuitton in Scottsdale & OC. LMAO! 🤣 😂 😜

2 weeks ago.

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rickdarling

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I want prices to tank so I can pick up a CC. Just don’t think it will happen with a big price drop that people are hoping for. And if it does, pretty sure my business slows down, in a crap economy and I still can’t/won’t fork over the $$$$
Same. A 35% reduction would do it however, I’m not holding my breath.
 

2Driver

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The biggest irony of all if you look at the forest from the trees:

Young adults enter the world with 12-16 years of education but zero to little personal finance and economics knowledge. They weren’t given the tools to understand how their decisions with money will directly impact their lives. LOL 12-16 years of history, social studies, art, music, trans studies and maybe a 1/2 semester elective of finance.


When all the basic errors that could have been avoided are made and they crash and burn, then repeat the cycle 15 years later and they have kids that follow in their footsteps, the Academics and liberals will tell them Capitalism isn’t working and left them behind, and that’s exactly where we are today.
 

HTMike

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Then there's my neighbor; Mr. White Plate, with the 100% financed full California package: New gangster house, new Triton, new CanAm new diesel, truck, new roll bar boat. . and Blackstone Griddle🍺
I think this happened way, way more than people realize. I know more than a few who pulled huge equity out of their houses to buy overpriced shit. A cool off in their businesses was never in the equation because it was never going to happen.

I expect some very high net worth people to get hurt pretty bad this time around.
 

hallett21

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All I want to see is what you sold & when you sold it. You get extra points if you sold your home and are currently renting.

So we can see just how “right” the Nostradamus’ are. 😁

I’d love to get a discount on land, commercial property, rental property or a new boat. But I just don’t think it’ll come to fruition the way everyone thinks it will.

Live within your means and keep your debt manageable.
 

Your ad here

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I think this happened way, way more than people realize. I know more than a few who pulled huge equity out of their houses to buy overpriced shit. A cool off in their businesses was never in the equation because it was never going to happen.

I expect some very high net worth people to get hurt pretty bad this time around.
Did their payment change (increase)? Only downside is resetting the loan back to 30 years.
 

OldSchoolBoats

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I've met a lot of retirees that have bought here in the last couple years, either cash buyers or small mortgages that they can easy pay based on a set income.. they aren't worried.

Then there's my neighbor; Mr. White Plate, with the 100% financed full California package: New gangster house, new Triton, new CanAm new diesel, truck, new roll bar boat. . and Blackstone Griddle🍺

I've got my eye on the truck..🤣

I know your neighbor. His wife is a nurse and he is a software engineer. Combined they pull around $350k/year income. Her mom passed in 2020 and left her just shy of a million in an IRA and a home in Orange County with no mortgage on it. They both still work and the renter in moms old house pays the mortgages on both Havasu and their primary home. They took low interest loans out on the toys because they can make the payments easily on their income. Wife doesn't need to work anymore, but still does because she loves her career. She bought her husband the Blackstone for Father's Day.


****None of that is true, but I can tell you there are a lot of people in that kind of situation, so it is unfair for you guys to pass judgement on them. Makes you look like a hater........🧏‍♂️🧏‍♂️🧏‍♂️
 

MSum661

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Who could have seen anything coming?

Tech companies with no profit and 50+ PEs
Daily SPAC IPOs up 200%+ without even a formed company - big wtf
NFTs, lol enough said
Bitcoin imaginary money goes up 400%
Homes up 40-100%
Drunken spending on RV, boats, houses
S&P trading at 35 times earnings.

The Fed rate increases, balance sheet run off and fuel prices were the equivalent of hearing that the neighbors just called the cops on the party in January - time to leave.

The real pain is yet to come because the average American consumer ( who can’t spell economics let alone understand it) won’t adjust until they are spent out, fully leveraged and are in trouble meeting obligations.

If you bought in the last 24 months and are sitting on a 3% fixed and don’t have to move anytime soon then enjoy your home and forget all this bull shit. My guess is, hope not, more people are way out over their skis than we think.

2Driver, Did you catch the chart of the St. Louis FED Personal Savings Rate read this morning?? Ugly would be an understatement.

BTW, in case anyone missed it.,
Housing Inventory just recorded the biggest monthly gain ever recorded in Realtor.com's data set. ☠️

Carry on!

FBI Surveillance Crew.jpg
 

2Driver

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No I was waiting on CNBC for it and didn’t see it I’ll have to look it up.

That’s the 30% of the last 2 years homes that we’re sold to investors running to the exit.
 

LargeOrangeFont

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Grabbed one of those yeti soft coolers off a shelf the other day, thinking I wanted one... saw the $350 price tag... set it right back lol

I bought a “Titan” collapsible one at Costco today for $35. We will see how it goes. Even the AOs are starting got get a little pricey.
 

LargeOrangeFont

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All I want to see is what you sold & when you sold it. You get extra points if you sold your home and are currently renting.

So we can see just how “right” the Nostradamus’ are. 😁

I’d love to get a discount on land, commercial property, rental property or a new boat. But I just don’t think it’ll come to fruition the way everyone thinks it will.

Live within your means and keep your debt manageable.

If you believe some members here they have been living in their trailers since 2015. :)
 

HNL2LHC

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I know your neighbor. His wife is a nurse and he is a software engineer. Combined they pull around $350k/year income. Her mom passed in 2020 and left her just shy of a million in an IRA and a home in Orange County with no mortgage on it. They both still work and the renter in moms old house pays the mortgages on both Havasu and their primary home. They took low interest loans out on the toys because they can make the payments easily on their income. Wife doesn't need to work anymore, but still does because she loves her career. She bought her husband the Blackstone for Father's Day.


****None of that is true, but I can tell you there are a lot of people in that kind of situation, so it is unfair for you guys to pass judgement on them. Makes you look like a hater........🧏‍♂️🧏‍♂️🧏‍♂️
I bought it hook, line and sinker. Still hurts when I laugh. LOL.

I know people that are in the boat that you described. Then there are the ones who have. A family business worth a substantial amount of money that they will never really spend just because that is the way that they are.
 
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