Comments by "worn down" (@worndown8280) on "New Homes SLASHED Over $100K | Lennar Meltdown?" video.

  1. Because fools are easily parted from their money.
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  2. If prices drop 50% it will be very different from pre covid prices. March of 2020, when lock downs started, the median American home was valued at $273,000. May of 2022, they were $387,000. That is an increase of $114,000 or roughly 31%. If houses fall 50% in value that would bring the new median price to $193,500. Thats a difference of $79500. Increasing and decreasing percentages work differently.
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  3. "used" home price drops always trail new home sales. No one who ones a home wants to be the first to sell their home for a decrease over the last guy. But when it does happen it changes everything in the market. If things happen the way they have in the past, you will see that in June or July of this year. And by the end of the year it should just drop. That said, I am just some guy. But I did manage to retire at 46.
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  4. near the end of the year these builders will have firesales. This is the same thing that happened in 2005-2006. They kept building and by the end of 2007 their debt could no longer be rolled over so they had to sell any homes they had. Didnt matter the hair cut they took. It will happen again at the end of this year. That will be two years from the ramp up in building and with rates the way they are, they just cant afford it. Wait until the end of the year. There will be blood. Its already happening in the commercial markets. When current homeowners understand this, they will try to dump their properties as well, making things worse. And if we have massive layoffs between now and then, well, if you have cash or credit you will clean up.
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