11–20 of 510 posts
Seems like the bubble burst is going to be more sudden than we thought. 30 year mortgages are suddenly at nearly 5.5-6%, listings are sitting on the market for longer, and multiple cities are cracking down on Airbnb.
I’m seeing 5.0% most places (see ally bank). Still higher than its been but not pushing 6% by any stretch.
Seems like the bubble burst is going to be more sudden than we thought. 30 year mortgages are suddenly at nearly 5.5-6%, listings are sitting on the market for longer, and multiple cities are cracking down on Airbnb.
I’m seeing 5.0% most places (see ally bank). Still higher than its been but not pushing 6% by any stretch.
I don’t have a good way to reconcile the current hot job market with seemingly increasing reports of mass layoffs, but one wonders if the graph will change directions decisively at some point soon.
Seems like the bubble burst is going to be more sudden than we thought. 30 year mortgages are suddenly at nearly 5.5-6%, listings are sitting on the market for longer, and multiple cities are cracking down on Airbnb.
I’m seeing 5.0% most places (see ally bank). Still higher than its been but not pushing 6% by any stretch.
Seems like the bubble burst is going to be more sudden than we thought. 30 year mortgages are suddenly at nearly 5.5-6%, listings are sitting on the market for longer, and multiple cities are cracking down on Airbnb.
"Cracking down on Airbnb"... you say this as if Airbnb is a horrible thing or something LOL
Like a pimp, AirBNB is the helpfull middleman for the desperate or the sociopaths.
So, yes, at it's core AirBNB is horrible.
Seems like the bubble burst is going to be more sudden than we thought. 30 year mortgages are suddenly at nearly 5.5-6%, listings are sitting on the market for longer, and multiple cities are cracking down on Airbnb.
Earlier quoted context omitted.
I’m seeing 5.0% most places (see ally bank). Still higher than its been but not pushing 6% by any stretch.
Allegedly 6 more rate hikes from The Fed this year too, so this could just be the beginning.
It will be surprising if Powell doesn't do a second pivot and go Dovish well before 6.
Obviously I'm not a fortune teller and many people disagree.
Seems like the bubble burst is going to be more sudden than we thought. 30 year mortgages are suddenly at nearly 5.5-6%, listings are sitting on the market for longer, and multiple cities are cracking down on Airbnb.
The true demand from people with the intend to actually live in the estates has been constantly decreasing since around 2000; the real salarys dropped since then, so did the buying power.
The only reasons people found buyers at x3-x10 (!) prices were
a) that there is a class of people wealthy enough to still afford the purchase, even at those completely-out-of-touch prices, and
b) that people were given loans they should either never have gotten (2008) or that they shouldn't have asked for (because it's dumb to buy estates where the price is set by people and institutions that have n times your own income/net worth)
When 90 (?) percent of people simply lack the buying power to participate in the real estate market, but the other 10% happily sell each other estates, that's not a bubble, the real estate market just stopped interfacing with the vast majority of the population.
