Comments by "Matthew Phillips" (@matthewphillips5483) on "REDFIN: Sellers Run Out of Time" video.

  1.  @hermesmcclintok  "If you are renting time is money. " It depends. Where I am at, I can rent my current house for about $1,500/mo less than if I bought it. Sure, I might not be building equity but, let's be honest, I am not going to build much equity in the next 12-24 months anyway. If prices drop further, I would actually be underwater. I am quite comfortable paying my rent where it is now and continuing to save money as I have been. Jumping into a bad purchase decision is not the way.
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  2. Cope. The Fed will not reverse course as allowing hyperinflation will turn us into the Weimar Republic. That is a fate far worse than a few angry NIMBYs who are upset their property value went down.
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  3.  @realestatemindset  I hope you meant "betting on it" because "beating on it" means something different entirely. :D
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  4. I think you nailed it.
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  5. I have heard this argument but it lacks true knowledge of how investing works. People value things based on what others would pay for it. The gauge this, you need the largest pool of buyers possible. If you are dealing with only cash buyers, your pool of buyers is smaller. Also, cash buyers have options of where to put their money. This is the opportunity cost of money. Even if a person can afford to buy a home with cash, why would they? At 6% interest rates, you can put 20% (to avoid PMI) and finance the rest. You can put the rest of hte cash into index funds which tend to average 8-10% a year which is better than the savings of the 6% interest rate. The only way the RE is worth the cash offer is if you are getting an extreme discount. Hence, we are back to the price drops.
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  6.  @micahalba753  "real estate always goes up no matter what" AND THEN YOU SAY "Homes that are overpriced in bad area will for sure drop, but nonetheless all real estate goes up slowly but surely". It sounds like you didn't really say anything at all. Like saying "real estate goes up always unless it doesn't." Truth is, you don't know what you are talking about. Ask people who purchased homes in Detroit back in the day what their homes are worth now? What about the houses that sell for $1. Do you think they were always $1? Most people wouldnt live in Detroit if you paid them to be there.
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  7. $91 sq ft? Yeah, I think you are golden to buy if you can. lol
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