Comments by "worn down" (@worndown8280) on "Home Prices DROPPING FAST on Zillow (the Housing Crash is Here)" video.

@Jeff__M Dude the Fed hasnt even started selling MBS's yet. Once they do, housing is as cooked as the stock market.
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Thats because the flippers, investors, and air BnBers are all fleeing the market. They are the first to get out. You will also see a lot of unfinished homes, half remodeled homes hitting the market as well.
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Yup, the market just couldnt believe that the Fed would raise rates. They are shocked. They have been coddled for almost a decade with damn near free money.
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@mollysreadings4845 Right, whats the point of saying anything unless you state where you are at.
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The value added from tech to housing has a ripple effect. It raised all boats. People leaving California could then up bid properties in other states. As that high tide recedes you will see it ripple out in the same way the increase happened. You cannot rationally expect houses to sell for more than local populations can afford with their incomes. It just doesnt work that way. And with liquidity drying up people who are over leveraged will start selling. Thats just how things are. And when the layoffs begin... I will just say this, the Millennials cannot catch a break. They were the hardest hit during 2008 and they are going to be the hardest hit now.
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These are cherry picked results
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@FnGRZupra in the late 80s and early 90s Japan put all the money it could in the US. and the average loss was about 20%. But at home the loss was 50%. So by losing 20% they saved 30%. Thats exactly how most of the world feels at times like these. Horrible losses to Americans are ok to them. Because the would have lost so much more at home. Thats what happens when you have export driven economies.
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@AnonYmous-vm5ls no, just that these are cherry picked results. i actually sold last year. the market is going down, but again, doesnt change that these are cherry picked.
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@elizabethblane201 Even a few weeks ago, most people would have laughed at that statement. They arent laughing now. The new cope is markets will only correct 10%. Good for your kids, patience is a virtue.
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The only problem with that is the effect on overseas markets. A controlled raise gives people time to adjust their positions. Massive panic hiking causes more panic.
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@Animalmanager Thats only true if all the inflation is monetary inflation. Its not. Its demand inflation in certain sectors because of lack of product. The worst thing you could do to those sectors is dry up liquidity so investment cannot happen.
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@wescald lol not the shiba
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@亭亭-i5d Yea the flippers are tapping out. They cant afford the loans to buy stuff anymore. It will get worse as the ones who are using credit card debt to try to rush completion. You always see this in trades when markets get over saturated.
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Wait until we are officially in a recession. Your income may not be as secure as you think. And a lot of people who bought in the last two years are going to be in a similar position but with an inflated mortgage.
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