Author Topic: When would be next housing Bottom?  (Read 110724 times)

0 Members and 2 Guests are viewing this topic.

Offline Liar Loan

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 648
  • -Received: 434
  • Posts: 2042
Re: When would be next housing Bottom?
« Reply #1110 on: May 19, 2020, 04:50:22 pm »
Typical LL non response when he gets disproven by his own post.

He’ll probably wait until the fallout from Covid to show how prices have dropped.

The data in the chart shows a massive price drop in Irvine year-over-year.  Why would I have to wait until Covid shows further price drops?

CONGRATULATIONS!  YOUR HOME JUST LOST MORE VALUE!!

Offline irvinehomeowner

  • The Unicorn Hunter
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2409
  • -Received: 3782
  • Posts: 21827
  • 3CWG
Re: When would be next housing Bottom?
« Reply #1111 on: May 19, 2020, 06:02:38 pm »
Typical LL non response when he gets disproven by his own post.

He’ll probably wait until the fallout from Covid to show how prices have dropped.

The data in the chart shows a massive price drop in Irvine year-over-year.  Why would I have to wait until Covid shows further price drops?

CONGRATULATIONS!  YOUR HOME JUST LOST MORE VALUE!!

Keep dancing... it's so funny.
Once you go 3-car garage... your junk can never go back.
3CWG: 3-Car Wide Garage
FCB: Foreign Cash Buyer
I recommend:
www.irvinerealtorsite.com
member: Soylent Green Is People (loans/refis)

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2249
  • -Received: 1801
  • Posts: 8767
  • Gender: Male
Re: When would be next housing Bottom?
« Reply #1112 on: May 19, 2020, 07:15:08 pm »
So the article states they are crafting or drafting a plan. But is there enough money in the budget to do this?

(they might do this or not)

No sure, they are proposals for now so we'll see if they turn into something real.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

Offline Compressed-Village

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 327
  • -Received: 237
  • Posts: 1882
Re: When would be next housing Bottom?
« Reply #1113 on: May 19, 2020, 08:43:13 pm »
Typical LL non response when he gets disproven by his own post.

He’ll probably wait until the fallout from Covid to show how prices have dropped.

The data in the chart shows a massive price drop in Irvine year-over-year.  Why would I have to wait until Covid shows further price drops?

CONGRATULATIONS!  YOUR HOME JUST LOST MORE VALUE!!

Let me know which one is massively price drop, link please, so I can have an option and make an inform purchase, when you see one. I actually would love to buy one at a massive discount but could not find one.

Thanks

Offline paydawg

  • O.C. Resident
  • ***
  • Thanks
  • -Given: 45
  • -Received: 95
  • Posts: 791
Re: When would be next housing Bottom?
« Reply #1114 on: May 20, 2020, 09:36:23 am »
I wonder if we're going to start seeing any evidence of this in Irvine and the rest of OC:

https://www.bloomberg.com/news/articles/2020-05-20/young-join-the-rich-fleeing-america-s-big-cities-for-suburbs

Young Join the Rich Fleeing America’s Big Cities for Suburbs
Thanks in advance for the 'thanks'!!

Offline eyephone

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 392
  • -Received: 659
  • Posts: 12228
Re: When would be next housing Bottom?
« Reply #1115 on: May 20, 2020, 09:40:05 am »
I wonder if we're going to start seeing any evidence of this in Irvine and the rest of OC:

https://www.bloomberg.com/news/articles/2020-05-20/young-join-the-rich-fleeing-america-s-big-cities-for-suburbs

Young Join the Rich Fleeing America’s Big Cities for Suburbs

The article states people are breaking their lease around 17% in San Fran. Add it to the cancel rent movement. It is not favorable to be a landlord at this time.

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2249
  • -Received: 1801
  • Posts: 8767
  • Gender: Male
Re: When would be next housing Bottom?
« Reply #1116 on: May 20, 2020, 10:47:27 am »
I wonder if we're going to start seeing any evidence of this in Irvine and the rest of OC:

https://www.bloomberg.com/news/articles/2020-05-20/young-join-the-rich-fleeing-america-s-big-cities-for-suburbs

Young Join the Rich Fleeing America’s Big Cities for Suburbs

I saw a report earlier today on CNBC how the activity of the rich buying homes in the suburbs of Westchester County, New Jersey, and Long Island (Hamptons) is increasing in the past month. If the trend is true then we may see more people moving out to the suburb from urban dense areas, this will be supported by the increasing work from home trend. Those folks that are relocating to Irvine from the more dense areas you'll see people wanting lofts, office/dens, and/or extra bedrooms so they can work from home more comfortably.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

The following member(s) thanked this post:


Offline shahshah

  • Tourist
  • *
  • Thanks
  • -Given: 46
  • -Received: 5
  • Posts: 76
Re: When would be next housing Bottom?
« Reply #1117 on: May 20, 2020, 01:15:15 pm »
"Those folks that are relocating to Irvine from the more dense areas you'll see people wanting lofts, office/dens, and/or extra bedrooms so they can work from home more comfortably."

Based on what you said USC do you think this may push up demand for 4bd homes less than 1.25m which were not appreciating like the 3bd were this past year?





I wonder if we're going to start seeing any evidence of this in Irvine and the rest of OC:

https://www.bloomberg.com/news/articles/2020-05-20/young-join-the-rich-fleeing-america-s-big-cities-for-suburbs

Young Join the Rich Fleeing America’s Big Cities for Suburbs

I saw a report earlier today on CNBC how the activity of the rich buying homes in the suburbs of Westchester County, New Jersey, and Long Island (Hamptons) is increasing in the past month. If the trend is true then we may see more people moving out to the suburb from urban dense areas, this will be supported by the increasing work from home trend. Those folks that are relocating to Irvine from the more dense areas you'll see people wanting lofts, office/dens, and/or extra bedrooms so they can work from home more comfortably.

Offline bones

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 201
  • -Received: 1119
  • Posts: 4567
Re: When would be next housing Bottom?
« Reply #1118 on: May 20, 2020, 01:24:32 pm »
This will validate IHO’s “homes need to have separate rooms” mantra. Great rooms are not conducive to zoom calls. 

The following member(s) thanked this post:


Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2249
  • -Received: 1801
  • Posts: 8767
  • Gender: Male
Re: When would be next housing Bottom?
« Reply #1119 on: May 20, 2020, 09:54:16 pm »
"Those folks that are relocating to Irvine from the more dense areas you'll see people wanting lofts, office/dens, and/or extra bedrooms so they can work from home more comfortably."

Based on what you said USC do you think this may push up demand for 4bd homes less than 1.25m which were not appreciating like the 3bd were this past year?





I wonder if we're going to start seeing any evidence of this in Irvine and the rest of OC:

https://www.bloomberg.com/news/articles/2020-05-20/young-join-the-rich-fleeing-america-s-big-cities-for-suburbs

Young Join the Rich Fleeing America’s Big Cities for Suburbs

I saw a report earlier today on CNBC how the activity of the rich buying homes in the suburbs of Westchester County, New Jersey, and Long Island (Hamptons) is increasing in the past month. If the trend is true then we may see more people moving out to the suburb from urban dense areas, this will be supported by the increasing work from home trend. Those folks that are relocating to Irvine from the more dense areas you'll see people wanting lofts, office/dens, and/or extra bedrooms so they can work from home more comfortably.

It may very well lift prices of older homes with more traditional layouts that have 4+ bedrooms under $1.2m.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

Offline irvineband

  • Tourist
  • *
  • Thanks
  • -Given: 25
  • -Received: 7
  • Posts: 49
Re: When would be next housing Bottom?
« Reply #1120 on: May 23, 2020, 07:02:34 am »
From Barrons this Saturday:

“Low inventory in the residential real estate market drove the median sales price of existing homes to an all-time high in April, according to the National Association of Realtors’ April Existing Home Sales report, released Thursday morning.”

Where did that bottom go?  ;)

Offline OCLuvr

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 19
  • -Received: 32
  • Posts: 466
Re: When would be next housing Bottom?
« Reply #1121 on: May 23, 2020, 10:18:57 am »
I think this is early to say if worst is over.
« Last Edit: May 23, 2020, 10:59:20 am by OCLuvr »

Offline Compressed-Village

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 327
  • -Received: 237
  • Posts: 1882
Re: When would be next housing Bottom?
« Reply #1122 on: May 23, 2020, 10:32:46 am »
Let me break it to you, we just getting started. The duration will be much longer than most anticipated. Majority of the top economist are now agreed that we will not get a V recovery. It’s more like an L or a U at best. The Stock markets have not priced in IF Democrats wins the White House and take over the Senates, when that happen, look for market crash 50 %, 60%, crash possible, and reprice.

Offline Kings

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 327
  • -Received: 329
  • Posts: 1626
Re: When would be next housing Bottom?
« Reply #1123 on: May 23, 2020, 11:24:33 am »
Let me break it to you, we just getting started. The duration will be much longer than most anticipated. Majority of the top economist are now agreed that we will not get a V recovery. It’s more like an L or a U at best. The Stock markets have not priced in IF Democrats wins the White House and take over the Senates, when that happen, look for market crash 50 %, 60%, crash possible, and reprice.

why would anyone vote for dems if that is the result?

Offline Compressed-Village

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 327
  • -Received: 237
  • Posts: 1882
Re: When would be next housing Bottom?
« Reply #1124 on: May 23, 2020, 12:01:16 pm »
Because, the fake market rally has to reset, and the Democrats will push this. It will still reset even if POTUS 45 sitting. This is just part of the big debts cycle how it will runs and how it will play out. Look at what happenning now, you got major corporations running on hand out, sustainable from the PPP giveaway? This is comparable to the 1929- 1945 era. Just look back in history and it will tell you what lies ahead.

The masses crying out for the HAVES to give up more of their money and pay higher tax, and demand free hand out.


 

Talk Irvine Links

[Recent Posts]
[FAQ / Rules]

Site Supporters



Related Links

Recent Posts

SimplePortal 2.3.5 © 2008-2012, SimplePortal