Author Topic: When would be next housing Bottom?  (Read 125625 times)

Offline Compressed-Village

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Re: When would be next housing Bottom?
« on: July 18, 2019, 07:40:25 AM »
More winning!

Quote
“A confluence of many factors — slower economic growth abroad, tighter capital controls in China, a stronger U.S. dollar and a low inventory of homes for sale — contributed to the pullback of foreign buyers,” said Lawrence Yun, NAR’s chief economist. “However, the magnitude of the decline is quite striking, implying less confidence in owning a property in the U.S.”

Quote
In the first quarter of this year, Chinese buyer inquiries for U.S. properties on Juwai.com, a Chinese real estate site, were down 27.5% from a year ago. Inquiries have been down in four of the last five quarters.

“We call it the Trump effect. It’s a combination of anti-Chinese political rhetoric, a clampdown on visa processing, and of course tariffs,” Carrie Law, CEO and director of Juwai.com, said in a recent interview. “The Trump effect is undercutting some of the primary drivers of Chinese demand for U.S. property, including buying homes for students who are studying in the U.S. and the country’s reputation as a safe investment.”

https://www.cnbc.com/2019/07/17/foreign-purchases-of-american-homes-plunge-36percent-as-chinese-buyers-flee.html

this is actually great news because it gives average american families an opportunity to purchase a home without worrying about an fcb coming in all cash with no contingencies.  i'm sure plenty of fthb on this board will welcome this change!

going by your logic, why shouldn't stocks be lower to let average american families who alredy dont have large portofolios, a chance to build wealth ?  why are you guys doing cartwheels every time stocks go up ?

i know you dont have a logical reply for this, just hide behind a random gif and be done with it

why so hostile?  this is a family-oriented message board and i think this is great news for future irvine residents!

and i hope you're not serious about your reply, but i'll humor you anyway.  stocks can be purchased at any time and the market can keep increasing - there is no competition or limiting factors (other than price of a single stock in itself, but you can purchase etfs or other instruments to build wealth). 

a homebuyer often-times has to compete with other offers, with varying prices and terms.  when there is more competition, especially from buyers who are paying all cash with enticing terms like fcbs, the average first time home buyer is left behind and could spend months or even years trying to find a home.  have you ever been in this position?  i'm sure many on this board can relate to this.

hope this helps!

What is the difference between a buyers ready to buy and a buyer bottom fishing?

— A ready to buy, buyers have a target price range and the locations of choice in mind, if they outbid and out of range they move on to the next property and get it.

— A bottom fishing buyers will often time wait to loose out opportunities and waiting for the crater price, which even when bottom, often fail to acts.

I recent had a convo with a middle age white woman in a coffee shop, and I feel sad for her. She’s a 20 years Irvine residence and her entire life is living as a renter in a rental apartment. Moving from one to another Irvine. She seem distraught  as she said with her recent move it cost her too much and now have been considering moving to Idaho. She said she was a perfect tenant but each time comes renewal the big greedy rental corporations raise her rent which force her to relocate. And in recent years it get smaller and more cramped location.

I feel for her, and I am thinking at the time, she lived through and saw the absolute bottom and the peak of the market but failed on those opportunities. She simply can’t afford even at the bottom. Regardless of the trending, once a buyer ready and ables, they will execute. For many price has gotten too high and simply cannot do it.

The one that waiting will usually bitters later on.

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