AgentX wrote:

Anonymous wrote:I love it. Started loading up on property around 2010, and now I own 5 sfh’s that I got cheap, 4 townhomes around Shaw that I got for pennies, and two 4 units. People hate on white gentrifiers for many good reasons, but I’d like to say thank you to all the white gentrifiers for helping to make this black guy a rich, rich man. Have a blessed weekend!!!

This makes me smile. Really smart practice, good for you! I tell all my clients to buy, but don't sell. It's the way to go on wealth building.

But at some point don't you need to sell? I mean, unless you're past the 30-year mark and just collecting rent while paying insurance & property taxes. How many people pay off 12 properties? Is that even realistic for 99% of the population?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Honest question, but why would lower rates mean more demand? Wouldn't the ppl in the market for a house stay the same, they can just afford more? All these ppl looking for a home, would they not be looking if rates didn't drop?

I know people desperate to buy who literally can't afford to regardless - so rates don't matter if you don't have the income or down payment to afford the home.

I thought everyone who made a successful offer was paying cash. Rates don't matter in a cash situation.

No real difference in competitiveness between an actual cash offer and an offer with financing that has waived all contingencies -- either way, the buyer is going to be in default if they don't close. So rates do matter for most buyers.

pretty simple: dc is closest to the money printer

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Market correction will happen soon due to rising interest rates.

You’re going to be on your knees crying at the sky when rates go to zero and real estate remains like this for the next few years.

People have been saying prices are coming down forever. Smh!

And people have been saying that "the only direction rates can go is up" forever as well. Guess what? They're going to zero. Japan 2.0.

Anonymous wrote:

Anonymous wrote:Market correction will happen soon due to rising interest rates.

You’re going to be on your knees crying at the sky when rates go to zero and real estate remains like this for the next few years.

People have been saying prices are coming down forever. Smh!

Anonymous wrote:

Anonymous wrote:Honest question, but why would lower rates mean more demand? Wouldn't the ppl in the market for a house stay the same, they can just afford more? All these ppl looking for a home, would they not be looking if rates didn't drop?

I know people desperate to buy who literally can't afford to regardless - so rates don't matter if you don't have the income or down payment to afford the home.

I thought everyone who made a successful offer was paying cash. Rates don't matter in a cash situation.

It’s clear few people here have a true understanding of what low interest rates do. Low interest rates help existing asset owners. Period. They hurt new asset purchasers. This is true in bonds, stocks, and housing. In housing, low interest rates help sellers. The additional “affordability” granted to buyers through lower interest rates is offset by higher housing prices (higher principal payments). Existing asset owners can now sell for more or refinance to capture that value that new home buyers cannot.

These Higher housing prices are also not a 1-1 reflection of lower interest rates. They’re much higher than lower interest rates would alone lead to. Peoples salaries have remained stagnant. They’ve made money in the stock market and can use that to buy a house. But the stock markets not going to increase 50% per year each year. Interest rates going back up will also keep a lid on housing prices. Until salaries go up significantly, housing prices can’t continue to go up (unless stocks keep going up or interest rates turn negative)

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