Comments by "Daniel Bradford" (@Falconlibrary) on "Core Logic Negative Equity Map" video.

  1. I'm seeing price cuts of 5%-10% for houses that are priced 200%-300% more than they sold for in 2018-19. Example: $210,000 house Reduced to $199,000 Seller bought it for $89,000 in 2019, has made no significant improvements (foundation, roof, plumbing, electrical) but painted everything gray, just like Chip and Joanna Gaines said they should. So I'm supposed to feel lucky that I get a house that's 223% higher than it was 2.5 years ago why? Nice little profit for the flippers, but I don't see how we can get sellers to cut prices by 50% absent a very long and very deep recession on the scale fo 2008-2012. Because I refuse to pay more than $99,000 for a house that was $89,000 2.5 years ago--and that's 11% more than the seller paid for it, annualized increase of 4.4%, which is generous. They might break even on the deal or a lose a bit of money. Not my problem that they gambled on selling at the height of the biggest speculative bubble in history and their timing was bad. Ponzi schemes always burn somebody. It's not going to be me.
    7
  2. If housing prices don't correct 50% at least, we'll just start the whole nonsense all over again.
    1
  3. You're going to be a landlord? And rent to who? The people who don't have jobs?
    1