Anonymous
07/07/2021 18:51
Subject: Re:I think the bubble is popping.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Mortgage applications sink to their lowest level since before the pandemic hit
https://www.cnbc.com/2021/07/07/mortgage-applications-sink-to-lowest-level-since-before-pandemic.html
Falling mortgage rates didn’t spur demand.
RedFin data shows major slowdown of houses sold in the last month or so while inventory increased.
Which is good, all the pandemic did was move up peoples timelines to move from the city to the burbs. They did it all at once hence the scramble. That demand has been satiated to a large part. You aren’t seeing investors buying multiple homes or other nonsense like in 2005.
Redfin data also indicates that suburban buyers are very stretched. In Bethesda and Arlington zip codes I checked, down payments are only averaging about 10%. In DC it’s a different story. All of the high demand and competitive neighborhoods have at minimum 20% average down payment and many, like CCDC are 30%+. Suburbs look to be maxed out.
Can you please tell me where to find this data on redfin?
Anonymous
07/07/2021 16:58
Subject: I think the bubble is popping.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Everyone in tech (real tech) that I know wants to work in NYC, not DC.
Oddly, everyone in real tech I know live in CA and don’t want to live in DC but love the idea of sending their kids to TJ so they are moving to Fairfax.
Didn't TJ eliminate their merit/test based admissions last year so it's pretty much anybody with a 3.5+ (>50% of all students in the district) is lotteried in now? Won't that kill the special sauce within a few years?
Yes, it would. Bad decision on FFX county part.
This is so sad. Despite not having any kids, TJ was something I was proud of as someone living in the county. Now, who cares?
Public schools are a stain on your resume. They suck.
Anonymous
07/07/2021 16:56
Subject: I think the bubble is popping.
As long as the Fed keeps conjuring trillions from thin air … there is a solid foundation under housing, stocks, commodities etc. the dollar is losing purchasing power while tangible entities are staying the same.
Anonymous
07/07/2021 16:14
Subject: I think the bubble is popping.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Everyone in tech (real tech) that I know wants to work in NYC, not DC.
Oddly, everyone in real tech I know live in CA and don’t want to live in DC but love the idea of sending their kids to TJ so they are moving to Fairfax.
Didn't TJ eliminate their merit/test based admissions last year so it's pretty much anybody with a 3.5+ (>50% of all students in the district) is lotteried in now? Won't that kill the special sauce within a few years?
Yes, it would. Bad decision on FFX county part.
This is so sad. Despite not having any kids, TJ was something I was proud of as someone living in the county. Now, who cares?
Anonymous
07/07/2021 16:09
Subject: I think the bubble is popping.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Everyone in tech (real tech) that I know wants to work in NYC, not DC.
Oddly, everyone in real tech I know live in CA and don’t want to live in DC but love the idea of sending their kids to TJ so they are moving to Fairfax.
Everyone in real tech I know lives in California or WA. When they talk about moving, they’re not talking about moving to NYC or DC. They’re talking about moving to the boonies, either Midwest to be near family, or Colorado or Montana or something “rustic” like that.
The funny part about city folk moving to the "rustic" areas is that I'm from the Appalachian Mountains in a rural area. It sucked. I hated it. Low population density. Drive everywhere. Nothing to do other than a few state/national parks that you can really only go to so many times. No shopping. No fast Internet (some areas in the mountains are still on dial up). No cable TV (Dish TV/Directv only some also use this for Internet but uploads with the second dish sucks). 45 minutes to the closest store (Walmart). An hour to the closest hospital. No shopping. Very few good places to eat out (or any really so you take what you can get). Going an hour+ to the movie theater once or twice a year is a major event because it's so inconvenient. No one I grew up with wants to live there any more. Oh and well water that is full of iron and stains your cloths red. Just remembered that "fun one" right before hitting submit.
They're not moving to your rural areas but places like Bend, Oregon.
Telluride, Jackson, Carmel....
Anonymous
07/07/2021 15:56
Subject: Re:I think the bubble is popping.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Mortgage applications sink to their lowest level since before the pandemic hit
https://www.cnbc.com/2021/07/07/mortgage-applications-sink-to-lowest-level-since-before-pandemic.html
Falling mortgage rates didn’t spur demand.
RedFin data shows major slowdown of houses sold in the last month or so while inventory increased.
Which is good, all the pandemic did was move up peoples timelines to move from the city to the burbs. They did it all at once hence the scramble. That demand has been satiated to a large part. You aren’t seeing investors buying multiple homes or other nonsense like in 2005.
Redfin data also indicates that suburban buyers are very stretched. In Bethesda and Arlington zip codes I checked, down payments are only averaging about 10%. In DC it’s a different story. All of the high demand and competitive neighborhoods have at minimum 20% average down payment and many, like CCDC are 30%+. Suburbs look to be maxed out.
Anonymous
07/07/2021 14:43
Subject: I think the bubble is popping.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Everyone in tech (real tech) that I know wants to work in NYC, not DC.
Oddly, everyone in real tech I know live in CA and don’t want to live in DC but love the idea of sending their kids to TJ so they are moving to Fairfax.
Everyone in real tech I know lives in California or WA. When they talk about moving, they’re not talking about moving to NYC or DC. They’re talking about moving to the boonies, either Midwest to be near family, or Colorado or Montana or something “rustic” like that.
The funny part about city folk moving to the "rustic" areas is that I'm from the Appalachian Mountains in a rural area. It sucked. I hated it. Low population density. Drive everywhere. Nothing to do other than a few state/national parks that you can really only go to so many times. No shopping. No fast Internet (some areas in the mountains are still on dial up). No cable TV (Dish TV/Directv only some also use this for Internet but uploads with the second dish sucks). 45 minutes to the closest store (Walmart). An hour to the closest hospital. No shopping. Very few good places to eat out (or any really so you take what you can get). Going an hour+ to the movie theater once or twice a year is a major event because it's so inconvenient. No one I grew up with wants to live there any more. Oh and well water that is full of iron and stains your cloths red. Just remembered that "fun one" right before hitting submit.
They're not moving to your rural areas but places like Bend, Oregon.
Anonymous
07/07/2021 14:35
Subject: I think the bubble is popping.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Everyone in tech (real tech) that I know wants to work in NYC, not DC.
Oddly, everyone in real tech I know live in CA and don’t want to live in DC but love the idea of sending their kids to TJ so they are moving to Fairfax.
Everyone in real tech I know lives in California or WA. When they talk about moving, they’re not talking about moving to NYC or DC. They’re talking about moving to the boonies, either Midwest to be near family, or Colorado or Montana or something “rustic” like that.
The funny part about city folk moving to the "rustic" areas is that I'm from the Appalachian Mountains in a rural area. It sucked. I hated it. Low population density. Drive everywhere. Nothing to do other than a few state/national parks that you can really only go to so many times. No shopping. No fast Internet (some areas in the mountains are still on dial up). No cable TV (Dish TV/Directv only some also use this for Internet but uploads with the second dish sucks). 45 minutes to the closest store (Walmart). An hour to the closest hospital. No shopping. Very few good places to eat out (or any really so you take what you can get). Going an hour+ to the movie theater once or twice a year is a major event because it's so inconvenient. No one I grew up with wants to live there any more. Oh and well water that is full of iron and stains your cloths red. Just remembered that "fun one" right before hitting submit.
Anonymous
07/07/2021 14:30
Subject: I think the bubble is popping.
Anonymous wrote:Anonymous wrote:Everyone in tech (real tech) that I know wants to work in NYC, not DC.
Oddly, everyone in real tech I know live in CA and don’t want to live in DC but love the idea of sending their kids to TJ so they are moving to Fairfax.
Everyone in real tech I know lives in California or WA. When they talk about moving, they’re not talking about moving to NYC or DC. They’re talking about moving to the boonies, either Midwest to be near family, or Colorado or Montana or something “rustic” like that.
Anonymous
07/07/2021 09:22
Subject: Re:I think the bubble is popping.
Anonymous wrote:Anonymous wrote:Mortgage applications sink to their lowest level since before the pandemic hit
https://www.cnbc.com/2021/07/07/mortgage-applications-sink-to-lowest-level-since-before-pandemic.html
Falling mortgage rates didn’t spur demand.
RedFin data shows major slowdown of houses sold in the last month or so while inventory increased.
Which is good, all the pandemic did was move up peoples timelines to move from the city to the burbs. They did it all at once hence the scramble. That demand has been satiated to a large part. You aren’t seeing investors buying multiple homes or other nonsense like in 2005.
Anonymous
07/07/2021 09:15
Subject: I think the bubble is popping.
Yeah - i'm super surprised at some of the homes sitting with zero offers over multiple weeks in some locations. nice homes just sitting. market is cooling. Q4 '20 - Q2 '21 mania is gone.
Anonymous
07/07/2021 09:05
Subject: Re:I think the bubble is popping.
Anonymous wrote:Mortgage applications sink to their lowest level since before the pandemic hit
https://www.cnbc.com/2021/07/07/mortgage-applications-sink-to-lowest-level-since-before-pandemic.html
Falling mortgage rates didn’t spur demand.
RedFin data shows major slowdown of houses sold in the last month or so while inventory increased.
Anonymous
07/07/2021 08:47
Subject: Re:I think the bubble is popping.
Mortgage applications sink to their lowest level since before the pandemic hit
https://www.cnbc.com/2021/07/07/mortgage-applications-sink-to-lowest-level-since-before-pandemic.html
https://www.cnbc.com/2021/07/07/mortgage-applications-sink-to-lowest-level-since-before-pandemic.html
Falling mortgage rates didn’t spur demand.
Anonymous
07/07/2021 00:59
Subject: I think the bubble is popping.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Everyone in tech (real tech) that I know wants to work in NYC, not DC.
Oddly, everyone in real tech I know live in CA and don’t want to live in DC but love the idea of sending their kids to TJ so they are moving to Fairfax.
Didn't TJ eliminate their merit/test based admissions last year so it's pretty much anybody with a 3.5+ (>50% of all students in the district) is lotteried in now? Won't that kill the special sauce within a few years?
Yes, it would. Bad decision on FFX county part.
It will take four years and then it will directly show up in college admissions.
Anonymous
07/06/2021 23:03
Subject: I think the bubble is popping.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Everyone in tech (real tech) that I know wants to work in NYC, not DC.
Oddly, everyone in real tech I know live in CA and don’t want to live in DC but love the idea of sending their kids to TJ so they are moving to Fairfax.
Didn't TJ eliminate their merit/test based admissions last year so it's pretty much anybody with a 3.5+ (>50% of all students in the district) is lotteried in now? Won't that kill the special sauce within a few years?
Yes, it would. Bad decision on FFX county part.