Author Topic: CR: Is there a new housing bubble?  (Read 2615 times)

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Offline Compressed-Village

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Re: CR: Is there a new housing bubble?
« Reply #15 on: April 13, 2021, 05:35:58 PM »
2007 ~ "There is no housing bubble." -Everybody
2021 ~ "There is no housing bubble." -Everybody

tic, tic, tic....

2007 ~ my gardener was flipping houses with income $20/hour that I and others were paying him
2021 ~ banks are still giving me runaround for 60+ days to fund a refi loan (not new debt) with my perfect credit, w2 income, the steady corporate job for years

2005ish - interest rates were 6-7% and people were still bidding up as there was speculation
2021 - Rates are sub 3s yet minimal speculative flips happening

The lessons LL learned from 2007 crash that burned him, is still alive and well.

I guess, its good to learned from past mistakes. However, conditions now is far different from his past crash and burn experiences.

Yeah, when my hair cut guy in 2007 said he just bought another house for no income documented, aka, LIAR LOANS, is that you Bob?


Offline USCTrojanCPA

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Re: CR: Is there a new housing bubble?
« Reply #16 on: April 13, 2021, 06:03:54 PM »
I have a few buyers who took a break from looking to buy late last year because they kept getting outbid.  Unfortunately for them, prices are 5%+ higher today and they were at the end of last year. 
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Offline irvinehomeowner

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Re: CR: Is there a new housing bubble?
« Reply #17 on: April 13, 2021, 09:32:54 PM »
Yes... what LL meant to say is "So much pain coming for Irvine owners!".

Since like 2010?

Had you bought in 2010 and stayed 5 to 10 years and sold... the pain would have been wonderful.
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Offline Liar Loan

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Re: CR: Is there a new housing bubble?
« Reply #18 on: April 14, 2021, 10:55:16 AM »
Home prices and offers are pretty crazy these days, but if what Kenkoko says is true of all other things he said above, shouldn’t we be more worried about the bubbles for those other things before speculating the housing one?

The stock market gains are based on comparing to the lows of last year's Covid crash.  If you compared to the high prior to that crash, stocks are up about 25% which is strong, but not a parabolic bubble. 

Bitcoin is it's own beast and yes, is driven by a lot of crazy speculation.  I would expect some more brutal crashes > 80% in the future as has happened three times in bitcoin's short history.


Offline irvinehomeowner

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Re: CR: Is there a new housing bubble?
« Reply #19 on: April 14, 2021, 01:31:42 PM »
I agree with LL here (what?!?)... Bitcoin is scary.
Once you go 3-car garage... your junk can never go back.
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Offline Kenkoko

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Re: CR: Is there a new housing bubble?
« Reply #20 on: April 14, 2021, 03:36:08 PM »
Using historic chart to predict Bitcoin's future isn't the best approach.

The landscape has significantly changed.

Last year Goldman Sachs said Bitcoin is not an asset class.

Today "I think Bitcoin is on an inevitable path to have the same market capitalization and then a higher one than gold" -- David Solomon, CEO of Goldman Sachs

There is also a generational shift in investor attitude towards Bitcoin / Crypto

Peter Schiff, one of the biggest gold bug, admitted not too long ago that his own son completely abandoned gold and put 100% of it into Bitcoin.

Offline Agent Joe

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Re: CR: Is there a new housing bubble?
« Reply #21 on: June 13, 2021, 12:32:16 AM »
Meanwhile I came across this podcast with Ken McElroy calling real estate "cheap" today: Offers some useful insights IMO.

While we are on the topic of hair cut guy and crypto, my barber did tell me the other day that he bought some Doge coin. And no, he hasn't bought a house.
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