Comments by "Daniel Bradford" (@Falconlibrary) on "Peter Grandich: Home Values Will Plummet 40% Fast" video.

  1. When a seller is demanding three times what they paid for a house three years ago, I wanna hear them squeal like a piggie.
    16
  2. You can pull the data from county tax records, although some counties don't make it available. If so, request it from the seller. If they refuse to provide it, move on, you're dealing with scumbags.
    15
  3.  @capitalmoving10  May be something to that, because the county records go to a great deal of trouble to hide the buyers' identities. I was an IRS agent when I was younger and one of the eye openers I got on the job is how prevalent and overlapping the "legitimate" business world is with money laundering and the underground economy. Even when we caught people doing this, they had the money and connections to stay out of jail and to pay a negotiated settlement of about 10% of what they laundered, so just mark that off as the cost of doing business. And now you know why I quit the IRS.
    3
  4. They're listening to Dave "I Own Millions in Real Estate" Ramsey.
    3
  5. I don't have any special insights nor will I make any predictions. Just an observation and some questions. I've been looking at houses in a rural area of Missouri (between Springfield and Branson). The houses sold for $40,000-$60,000 in 2019. The same houses, without improvements or remodeling, are now listed at $120,000-$200,000 (3x-4x the purchase price of three years ago). The houses are still selling at these inflated prices, and selling slightly above listing price. So were they vastly undervalued in 2019, or vastly overvalued now? There are no good-paying jobs in that area. A "good job" would be $10-$12 an hour. The realtors tell me that the primary purchasers of these houses are all-cash investors. They also tell me that the investors are not renting out the houses, but are keeping them vacant, and local meth-heads breaking into the vacant houses is a major problem in the area, so much so that after the houses are sold, they're being boarded up to make entry more difficult (and that is blighting neighborhoods). Since this has reduced the available houses for sale/rent, rents are skyrocketing in the area. I don't see the end game for this, really. Buying a house and just letting it sit there must have some purpose, else why do it? To drive up rents for other properties (seems like a rather expensive way to do that). Laundering money? Some sort of tax reduction strategy? Where does this lead?
    2
  6. Someone will get your house when you die. Or are you one of the immortal Boomers who will never get old and never die?
    1
  7.  @44door22  The houses are scattered and there doesn't appear to be consolidation, but that's a thought. Thing is, population density in this area is low and there's no real incentive to develop the area.
    1