Do you think the housing market will crash soon knowing interest rates are rising and millenials don't want homes

But when??? wrote:

[quote]Foreign investment bubble wrote:

I hear this all the time living in Seattle, but how many houses are really affected from foreign investment??? If this was actually a huge problem, I think it would be more known or I would experience it firsthand living here. I'm sure this is happening, but I bet it is not happening as much as you think.

Wrong.

Vancouver, BC added a tax for overseas investors. They immediately fled the market to Seattle. These are people buying 1M-2M houses. 15% tax is huge.

lsa wrote:

Stock market will crash, riots in the streets, kids starving , disease rampant, medical care reduced to witch doctors and charm bracelets, then someone will invent fire, figure out stones can be made into circles and used as wheels, vaccines will be invented, stock market will soar.

Haha

millennials will want and buy homes when they grow up just like the rest of us. They just don't buy them when they're 23 like people used to. If someone can reasonably afford a mortgage, any temporary issues that are preventing banks from taking their money will be cleared up soon enough.

But when??? wrote:

Homes value increase or decrease will depend on where you live as well.

Yes, but ... When the big earthquake finally pops everyone's bubble of delusion about the Bay Area, tech will crash, stocks will drop, housing all over will slide. Yes, it will be worse in the Bay Area where a lot of housing will literally be on a fire sale, but everyone in the US and possibly the world will suffer due to the hubris of building a giant speculative tech behemoth on an active and overdue earthquake fault.

If only the overlords at Lehman Brothers had been regulars on the Let's Run forum, they may have avoided bankruptcy. What were they thinking??

seattle the new VAN, BC wrote:

But when??? wrote:

[quote]Foreign investment bubble wrote:

I hear this all the time living in Seattle, but how many houses are really affected from foreign investment??? If this was actually a huge problem, I think it would be more known or I would experience it firsthand living here. I'm sure this is happening, but I bet it is not happening as much as you think.

Wrong.

Vancouver, BC added a tax for overseas investors. They immediately fled the market to Seattle. These are people buying 1M-2M houses. 15% tax is huge.

https://www.bloomberg.com/news/articles/2016-12-04/vancouver-housing-tax-pushes-chinese-to-1-million-seattle-homes

You didn't show me anything from this article. Article states that there are no data on how many of these houses are being purchased by foreign investors. Also, the article states that these investors are targeting houses over $1million. There are plenty of houses in Seattle less than $1 million which are rising quickly in value.

Berknee wrote:

But when??? wrote:

Homes value increase or decrease will depend on where you live as well.

Yes, but ... When the big earthquake finally pops everyone's bubble of delusion about the Bay Area, tech will crash, stocks will drop, housing all over will slide. Yes, it will be worse in the Bay Area where a lot of housing will literally be on a fire sale, but everyone in the US and possibly the world will suffer due to the hubris of building a giant speculative tech behemoth on an active and overdue earthquake fault.

So when is this earthquake coming? It's overdue? Can it be overdue for another 30-50 years? Or is it overdue to happen in next few years?

I remember someone I know making a comment that they'll never live in LA bc someone they know is into studying earthquakes and he guarantees that big earthquake will hit there in the next 30 years. What kind of prediction is that?

"So when is this earthquake coming? It's overdue? Can it be overdue for another 30-50 years? Or is it overdue to happen in next few years?

I remember someone I know making a comment that they'll never live in LA bc someone they know is into studying earthquakes and he guarantees that big earthquake will hit there in the next 30 years. What kind of prediction is that?"[/quote]

That's a typical geologist prediction. 10,000 years ago is 'current' if you're a geologist (I am).

Yes, an earthquake will disrupt the Bay Area. But we had a huge one in 1989. Pull up a graph of housing prices or the Dow from back then. Try to spot the earthquake.

H and R Crock wrote:

It is an absolute certainty that housing prices will crash, even without regard to millenialls propensity to puchase or interest rates.

It's baked in the cake due to demographics of boomer die-off already in progress, peak debt service capacity whether among the most credit worthy or sub-subprime owners or potential owners, impending bankruptcy of many local public entities.

Anything bought mostly by credit and or government subsidy is destined for a deflationary collapse: real estate, college tuition, automobiles, stock and other financial "assets" bought on margin, "healthcare" right after premium + deductible is more than peoples' net worth.

Almost everything you've said here is utterly untrue.

While it may be true that SINGLE mellenials dont want homes Married ones with families DO want them.

While there may be regions in the country where housing prices may undergo steep corrections, it is HIGHLY UNLIKELY that the entire housing market will undergo a crash like they did in 20089-2009.

Furthermore, we are seeing a FAR more responsible level of income to debt ration that in decades. Q3 2016 shows that on average only 9.99% of consumers disposable income goes towards debt service. You have to go back to 1980 to find figures close to that...

Actually, the millennials are set to be the largest home buying demographic. Baby-boomers are right there with them at the moment, but they're about to be taken over by the younger audience. Gen-Xer's are still shell-shocked from the 2000's, many of which got hit for nearly a decade right as they were hitting their career strides. =\

bpd ❤🙊🥕 wrote:

Do you think the housing market will crash soon knowing interest rates are rising and millenials don't want homes

Prices have to come down. They have to. And we have to restrit home sales to foreign buyers. The Bay Area is like some kind of dystopian nightmare right now with crappy 2 bedroom homes going for $2 million++