Comments by "Daniel Bradford" (@Falconlibrary) on "Minority Mindset" channel.

  1. Yeah, in 10-15 years, and what if you need to sell between now and then?
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  2. December inflation numbers were recently revised--there is no disinflation, prices still going up.
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  3. Wait until the grain stocks from the past two years are exhausted, because this year's harvest is the worst since 1962 and that's going to make food prices soar.
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  4. "If we see a recession" "According to a survey of 400 leaders of large US companies by consulting firm KPMG, a whopping 91% are predicting a recession in the next 12 months. What’s more, the survey...found that only 34% of these CEOs think the recession will be mild and short."--from a Fortune magazine article published October 2022
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  5. Gee, I blew through that $1200 pretty fast, considering that was two weeks' rent for me. I'm sure $1200 was lots of money when Nancy Pelosi was 25.
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  6. I've come to the conclusion post-SBV bailout that there won't be a housing crash, at least not in 2023. Yellen and Powell are determined to prop up asset values. They made that clear when they covered the uninsured depositors and didn't charge them a fee to do it (so the uninsured depositors got all the benefits of FDIC protection without paying the requisite fees for such coverage). I'm not saying that housing prices aren't going to decline from pandemic highs--they are clearly already doing that--but a "crash" by my definition would be a return to pre-pandemic prices or even lower than that. So long as the Fed keeps printing money, and the federal government continues with massive deficit spending, housing prices won't crash. Four facts: Biden's proposed budget adds $500 billion in spending JPMorgan estimates $2 trillion needed to prop up banks, which could easily become $6 trillion (SVB and Signature gobbled up $300 billion in a single week!) or more--that's more money the Fed has to print Consumers, retail investors, and institutional investors are still psychologically fixated on acquiring real estate, even when it doesn't make sense to do so. Such decisions aren't made rationally but emotionally, and we're seeing that now. The wildcard is the R word (recession): If we get one deep and long-lasting enough, throw the above three facts out the window as irrelevant and reconfigure the analysis.
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  7. You're adorable. Consequences are for the little people, darling.
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  8. The housing market is not going to reset. If you raised interest rates to 20%, all cash investors would just buy up anything that was listed. There's literally trillions of dollars of free money in the hands of investors and they are NOT going to let the market drop.
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  9. Yes, that's why prior to 1982, the SEC barred buybacks as stock manipulation.
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  10. It should be a place to live, period, not a consumer good, not an investment.
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  11. Sikhs wear turbans because they don't cut their hair.
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  12. We're headed into the 2024 election. The Democrats and Republicans will elbow each other in the face to bail out banks. Homeowners? Naw. Obama let 5.3 million people get kicked out of their homes 2008-10 and now the banks who took those houses are selling them at double or triple their acquisition cost.
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  13. Demand is a big factor, too. Demand has fallen so sharply that mortgage rates have gone down even as Fed rates went up.
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  14. I've been looking in small towns in Kansas that have no good jobs and declining population. Same there, house prices double or triple what they were 1-4 years ago. And they are still selling like hotcakes. I was undercut on a house by an investor who is going to hold the house vacant until prices go back up. Same thing happened last year: an investor bought the house above asking price and has listed it this year at 50% more than he paid for it (with no improvements). It's under contract, status is "pending".
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  15. Over 700 comments and all but a few are from bots! Non-bot comment: There is no housing crash that I can see. I'm tracking houses for price cuts. The only cuts I see are in the $3,000-$5,000 range. On the other hand, a new trend has emerged: significant price INCREASES, ranging from $15,000-$30,000. I'm also seeing houses selling a lot faster. Who's buying these houses? A lot of all-cash investors but also individuals who are getting mortgages.
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  16. Deflation is extremely rare in rich countries. The only two examples in the past century were the Great Depression starting in 1929 and Japan in the 1990s.
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  17. Individuals are not buying homes to occupy. Investors are buying homes. Almost every real estate listing I see now is explicitly marketed to investors and touts the house's investment potential, NOT its potential as a home to live in (spacious kitchen, good schools nearby, fenced-in yard for kids and pets). If housing prices crash, investors will just buy up more houses and people who just want a home will be shut out. We don't need a market correction, we need legislation regulating investor activity in the single family home market, or this will never be fixed.
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  18. They got their bonuses Friday, just before the bank announced it was going under.
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  19. These are the rugged capitalists who lay people off from their jobs to "take care of the bottomline." Funny how Ayn Rand cultists turn into socialists the second they lose money.
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  20. Yeah, the whole "housing crash" narrative has fallen apart, but Youtubers are insisting on peddling it for clicks and views. Aside from a few isolated areas, the housing market is booming in the US. It shouldn't be--but it is.
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  21. Sikhs have been wearing turbans for five hundred years now. Get over it.
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