Investing General Discussion

Falstaff

Falstaff

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karma said:
I cant feel sorry for those guys when they take losses like that, the way they play the game is all in or all out. Watched a few random videos for shits and grins of biggest WSB losers during the CV crash. One dude was up 4m on SPY options (IIRC) and didnt cash out. I think the announcer said he actually ended up losing money on that trade in the end. The announcer said the same thing I was thinking, you could take 3 mill of that, buy nothing but SPY and it would net you almost 200k in dividends a year.. but no... he held for more. Pigs get fat, hogs get slaughtered, isnt that how it goes?
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I thought the quote was "Bulls make money, Bears make money, pigs get slaughtered"?
 
Sanrith Descartes

Sanrith Descartes

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karma said:
Pigs get fat, hogs get slaughtered, isnt that how it goes?
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Hateyou

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grumblethorn said:
So what does this actually mean? It was my understanding that prices and so forth would be falling due to job losses etc.
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I think there’s several things in play. People are fleeing their big city apartments. Extremely low mortgage rates so people trying to get in before they go back up. People who may not be able to afford them anymore selling.

Talk to realtors and refi bankers around my area they are overwhelmed right now. Houses get sold in bid wars before they even hit the market. My friends dad sold his in two hours for cash, $30 more than he was asking for. Refinance underwriting is 3-4 months out.
 
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Sanrith Descartes

Sanrith Descartes

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grumblethorn said:
So what does this actually mean? It was my understanding that prices and so forth would be falling due to job losses etc.
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This is for new homes, not existing resales. Near zero interest rates are resulting in super low mortgages for those with A credit.

As for the existing home prices not falling, the issue is regulation has stopped foreclosures and evictions which is artificially propping the market up since supply isnt being flooded. Lawsuits are being filed to challenge the legality of these stop-eviction orders.
 
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Sanrith Descartes

Sanrith Descartes

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Hateyou said:
I think there’s several things in play. People are fleeing their big city apartments. Extremely low mortgage rates so people trying to get in before they go back up. People who may not be able to afford them anymore selling.

Talk to realtors and refi bankers around my area they are overwhelmed right now. Houses get sold in bid wars before they even hit the market. My friends dad sold his in two hours for cash, $30 more than he was asking for. Refinance underwriting is 3-4 months out.
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Yeah suburbs near major cities are being swamped with purchases from those fleeing. This specific article is talking about new homes. Builders are able to borrow at low interest and mortgages are near historic lows.
 
Kuro

Kuro

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Big Phoenix said:
Who is buying these homes? I get prices didnt drop because inventory was low, but record sales?
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Our housing market in bumfuck nowhere is absolutely ridiculous right now with people fleeing various shitholes, and bringing their 100k+ salaries with them, so just yolo-firing buys. Our real estate agent said one family ended up buying two homes because they bought the first home offering 30% over asking, then a home they liked better went on the market.

Note, our homes are normally in the 150-240 range, so compared to the 400k+ that most of these folks seem to be used to it's probably feeling like houses are free.

Got our first offer on the family home within 12 hours of going on the market, and we're on the very high end of the real estate market locally at 390.
 
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Khane

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The new remote work reality is certainly contributing to that
 
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C

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Kuro said:
Note, our homes are normally in the 150-240 range, so compared to the 400k+ that most of these folks seem to be used to
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In the metro areas people are leaving (NY, LA, Boston, Atlanta, etc.), decent houses are $700-1M+. Double that for San Francisco. Your houses are free compared to that.
 
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Hateyou

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Captain Suave said:
In the metro areas people are leaving (NY, LA, Boston, Atlanta, etc.), decent houses are $700-1M+. Double that for San Francisco. Your houses are free compared to that.
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Is anyone buying their old expensive shit though?
 
Falstaff

Falstaff

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Khane said:
The new remote work reality is certainly contributing to that
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Gonna suck when those people get their pay decreased because cost of living is so much less. Won’t be true for everyone, hope it isn’t true for anyone, but I linked an article here or some other thread that it’s already happening with some companies.
 
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