Strange things are afoot.

TR3B

Old but forgotten
Joined
Jan 9, 2021
Messages
382
Location
North Carolina
First of all, what the fuck is up with the housing market? It's bought before it's even listed for sale 20% over asking. Any available plot of land is being built on even though the cost of materials has doubled or more. Whole world is closed, everyone is tightening their belts - so who the fuck is paying cash for houses like there's a fire sale going on?

The number of used cars or bikes for sale has plummeted to near zero. Sure, there's some flotsam and jetsam about but everything interesting that I'd normally shop for that used to be dime a dozen is now unobtanium. Anything that is for sale is priced through the roof and sells quick - even the rusty fucking junk. And it's not just the bottom feeder stuff - new Vettes, TRXs, 100K Hummers, Teslas, Mustangs (fucking Mustangs) and even 100K Audi station wagons are all being fought over and selling over sticker.

People are buying up $1400 video cards like they're tickle me Elmos at Christmas, PS5s, Nintendos, Xboxes all being scooped up as fast as they can drop them.

Precious metals are being bought up at record pace too.

IDK what is going on but it seems like all of a sudden the population quietly doubled and everyone that moved in is loaded and has no reference point for the value of goods.
 

CZLoco

artist formerly known as quad destroyer and...
Joined
Dec 13, 2001
Messages
29,060
Location
Austin, TX
First of all, what the fuck is up with the housing market? It's bought before it's even listed for sale 20% over asking. Any available plot of land is being built on even though the cost of materials has doubled or more. Whole world is closed, everyone is tightening their belts - so who the fuck is paying cash for houses like there's a fire sale going on?
North Carolina may well have been my second choice before I decided on moving to Austin many years ago.
Back then it was one of the top five destinations for people to move to and I'm sure it's about the same now.

Austin house prices are crazy now also.
People are no longer able to come here for affordable housing.
Gone are the days of Californians cashing out of their houses and moving to Austin to buy mini-mansions.

But yeah, you would think Covid would have caused everyone to lose jobs but the only people out of work are those who couldn't have afforded a house anyways. Like bartenders, theme park workers, general hospitality type jobs. And they are mostly happy with unemployment because many are making more on unemployment than they were working jobs.
 

Vegas12

BAMF+
Joined
Aug 10, 2005
Messages
16,397
I’ve been on the lookout for a fun car/truck/driver and what the fuck on the prices!

...and I’m selling my house this month so “to the moon” with the prices! lol

All find and dandy.....unless you have to buy another overpriced property.

Being redundant AF, but part of me really wants to sell my house and move into my trailer until this bubble bursts to all hell.....

The % rates are also driving this madness.....$400,000 house payment is 2 bedroom apartment territory.
 
OP
TR3B

TR3B

Old but forgotten
Joined
Jan 9, 2021
Messages
382
Location
North Carolina
  • Thread Starter
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  • #6
I also don't understand all the fruit baskets suddenly into cars and bikes. The comments section on Bring a Trailer and just about every forum are straight up lemon parties. It's like soy causes a toxoplasmosis-like brain defect where the victims must pay out the nose for garbage money pit projects they'll never finish, then join a forum and talk about all the time they spend at the track.
 

C. Dolan

BAMF+
Joined
Dec 12, 2001
Messages
19,701
Location
San Diego, Ca.
Been on a selling spree for the last couple of years.
Houses that I have sold in San Berdu have been the subject of multi offer over bid cat fights.
The last house went for 10 % over an optimistic asking price and closed in 25 days.
Have 8 houses left up there and hope to be sold out by the end of the year.
Have been able to score a few bike deals , here and there.
Have a very early production 1936 Harley Knuckle that I bought for $ 65 k , 9 years ago.
A collector / broker has been after it for 3 years.
Back then I gave him a $ 200 k " go away, don't bother me price back then.
It may be going for $ 200 k this Saturday.
In general, moving some of my least favorite RE and will re-fi the keepers.
The high spread between spot and gold for sale has kept me out of it.
May entertain some stock plays.
 

Your Car Is Slow

HOLYBAMF
Joined
Dec 12, 2001
Messages
27,123
Location
Jacksonville, Florida
the problem with selling your house right now, is finding another one to buy!

multiple realtors all claiming folks from "other states" putting in sight unseen full price asks within hours of houses hitting the market.

with no evictions for the foreseeable future, just live rent free on someone elses dime somewhere! its the new american way!
 

fr0st

The Arvida Chancellor
Joined
Feb 4, 2006
Messages
13,518
Location
ArvidA
First of all, what the fuck is up with the housing market? It's bought before it's even listed for sale 20% over asking. Any available plot of land is being built on even though the cost of materials has doubled or more. Whole world is closed, everyone is tightening their belts - so who the fuck is paying cash for houses like there's a fire sale going on?

The number of used cars or bikes for sale has plummeted to near zero. Sure, there's some flotsam and jetsam about but everything interesting that I'd normally shop for that used to be dime a dozen is now unobtanium. Anything that is for sale is priced through the roof and sells quick - even the rusty fucking junk. And it's not just the bottom feeder stuff - new Vettes, TRXs, 100K Hummers, Teslas, Mustangs (fucking Mustangs) and even 100K Audi station wagons are all being fought over and selling over sticker.

People are buying up $1400 video cards like they're tickle me Elmos at Christmas, PS5s, Nintendos, Xboxes all being scooped up as fast as they can drop them.

Precious metals are being bought up at record pace too.

IDK what is going on but it seems like all of a sudden the population quietly doubled and everyone that moved in is loaded and has no reference point for the value of goods.
My thouht exactly,

We were just duscussing thais last week.. there's a whole neigbhorhood being built here.. the majoriy here aren't rich and can't afford new houses..

The used houses market is also up by atleast 30%.. i could put mine on sale for 35% and it would sell within a week..( ok maybe the 24x30 garage helps)




My theory is that people with used houses sell to people who can barely afford them thanks to near zero percent bank intrest loans that vary ( not fixed) and with the profit they make , they buy new houses.


But once the near zero percent intrest rates start going up, the whole thing is gonna go sideways
 
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Terry_Schiavo

Moderately Banned
Joined
Sep 6, 2008
Messages
34,832
Location
North Flarida
the strategy of migration is not just for illegals. You should see the Truman Show neighborhoods being constructed. Pools & screenrooms seem to be blown the eff up and these are sub divisions that have a nice pool to start. Saw one house that was 650k brand new & the buyers spent another 300k on a dream backyard. Someone is Staycationing the rest of their lives or credit limit. Aint no way they are seeing that money ever again.
 
Joined
Sep 9, 2002
Messages
6,415
Location
Indiana
If you ask me Indiana isn't worth the prices anymore. Should have been scooping up houses in 2016, could be making fat cash right now, like 30-40% ROI for doing nothing.

But they still move here, and they don't care what anything costs because it's cheaper than where they came from.
 

scottcolbath

BAMF+
Joined
May 1, 2002
Messages
13,189
Location
Phoenix, Az.
I bought a house here in VT 2 years ago. I’m selling my AZ house. I’ve been renting it out since leaving in 2015. The latest tenant just moved out last week. House should hit the market next week.

Friend of mine sold his house last month in that same neighborhood for asking price in 3 hours.
Location??

S.C.
 
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luckystrike

he/him - Chief Diversity and Inclusion Officer
Joined
Jan 1, 2002
Messages
53,159
Location
Inside Schiavo
Website
lemonparty.org
Been on a selling spree for the last couple of years.
Houses that I have sold in San Berdu have been the subject of multi offer over bid cat fights.
The last house went for 10 % over an optimistic asking price and closed in 25 days.
Have 8 houses left up there and hope to be sold out by the end of the year.
Have been able to score a few bike deals , here and there.
Have a very early production 1936 Harley Knuckle that I bought for $ 65 k , 9 years ago.
A collector / broker has been after it for 3 years.
Back then I gave him a $ 200 k " go away, don't bother me price back then.
It may be going for $ 200 k this Saturday.
In general, moving some of my least favorite RE and will re-fi the keepers.
The high spread between spot and gold for sale has kept me out of it.
May entertain some stock plays.
I am disappointed that crypto isn't on that list

Good call staying out of gold as bitcoin steals it's luster
 

whipit1K

BAMF
Joined
Jan 2, 2002
Messages
6,481
Location
NC
First of all, what the fuck is up with the housing market? It's bought before it's even listed for sale 20% over asking. Any available plot of land is being built on even though the cost of materials has doubled or more. Whole world is closed, everyone is tightening their belts - so who the fuck is paying cash for houses like there's a fire sale going on?

The number of used cars or bikes for sale has plummeted to near zero. Sure, there's some flotsam and jetsam about but everything interesting that I'd normally shop for that used to be dime a dozen is now unobtanium. Anything that is for sale is priced through the roof and sells quick - even the rusty fucking junk. And it's not just the bottom feeder stuff - new Vettes, TRXs, 100K Hummers, Teslas, Mustangs (fucking Mustangs) and even 100K Audi station wagons are all being fought over and selling over sticker.

People are buying up $1400 video cards like they're tickle me Elmos at Christmas, PS5s, Nintendos, Xboxes all being scooped up as fast as they can drop them.

Precious metals are being bought up at record pace too.

IDK what is going on but it seems like all of a sudden the population quietly doubled and everyone that moved in is loaded and has no reference point for the value of goods.
Totally agree that odd stuff is going on...in NC it has always been the food of people fleeing the frozen communist northeast, but lately it is like nothing I have seen
I have been looking for some more land in NC for a few years...It is now impossible to find. Everything around me that has sat vacant for decades has now been clear cut, has a new driveway cut in, and is in some stage of construction.

Tracts of land that appeared to be unused/unimproved land for sale sitting on the market for as long as I have lived here (NC) are suddenly subdivided, driveways cut in, and construction going on..

I am honestly thinking of moving elsewhere because the area is flooding with people....which has always been happening slowly....well it is speeding along in a hurry now
 

gsxrian

BAMF
Joined
Feb 23, 2005
Messages
1,933
Totally agree that odd stuff is going on...in NC it has always been the food of people fleeing the frozen communist northeast, but lately it is like nothing I have seen
I have been looking for some more land in NC for a few years...It is now impossible to find. Everything around me that has sat vacant for decades has now been clear cut, has a new driveway cut in, and is in some stage of construction.

Tracts of land that appeared to be unused/unimproved land for sale sitting on the market for as long as I have lived here (NC) are suddenly subdivided, driveways cut in, and construction going on..

I am honestly thinking of moving elsewhere because the area is flooding with people....which has always been happening slowly....well it is speeding along in a hurry now
The same in Florida, all the New Yorkers have come here!
 

Bandit Man

BAMF
Joined
Dec 14, 2001
Messages
6,422
Location
Los Angeles
We need another big earthquake in California to scare a bunch of people out, or let it snap off into the ocean and give Az and Nv some beach front property.
 

tinhead

Has never named a pet
Joined
Jan 1, 2002
Messages
34,676
Location
Northeast CT
China is the first central bank issuing cryptocrap. China communist crypto crap currency. That's assuming that all the other crypto crap isn't chinese too. China gets hard currency the world gets china crypto crap.
 
OP
TR3B

TR3B

Old but forgotten
Joined
Jan 9, 2021
Messages
382
Location
North Carolina
  • Thread Starter
  • Thread Starter
  • #32
Totally agree that odd stuff is going on...in NC it has always been the food of people fleeing the frozen communist northeast, but lately it is like nothing I have seen
I have been looking for some more land in NC for a few years...It is now impossible to find. Everything around me that has sat vacant for decades has now been clear cut, has a new driveway cut in, and is in some stage of construction.

Tracts of land that appeared to be unused/unimproved land for sale sitting on the market for as long as I have lived here (NC) are suddenly subdivided, driveways cut in, and construction going on..

I am honestly thinking of moving elsewhere because the area is flooding with people....which has always been happening slowly....well it is speeding along in a hurry now
Dude, SAME exact thing happening here. I'd love to know what the fuck is going on.
 

wormser77

BAMF+
Joined
Jan 2, 2002
Messages
10,307
Location
spokane wa
The Spokane housing market is nuts, has been for a few years now.
My little 850sq ft rental was worth around 100k 5 years ago, now it's at almost 200! In the last 2 months housing has gone up 20%.
Makes me question selling it but I'd feel bad for my renter, right now there's nothing on the market for rentals. Plus I keep the shop for myself.
 

Fever500

BAMF
Joined
Dec 12, 2001
Messages
2,516
Location
Transient
Totally agree that odd stuff is going on...in NC it has always been the food of people fleeing the frozen communist northeast, but lately it is like nothing I have seen
I have been looking for some more land in NC for a few years...It is now impossible to find. Everything around me that has sat vacant for decades has now been clear cut, has a new driveway cut in, and is in some stage of construction.

Tracts of land that appeared to be unused/unimproved land for sale sitting on the market for as long as I have lived here (NC) are suddenly subdivided, driveways cut in, and construction going on..

I am honestly thinking of moving elsewhere because the area is flooding with people....which has always been happening slowly....well it is speeding along in a hurry now
Yep .. been looking myself here in NC and SC and amazed at the lack of property .... unless you want "hunting" land near the coast ... read SWAMP!

Was looking at 50 acres up near Elkin ... gone in 2 days! Houses with more than 10 acres ... either gone quickly or still listed with insane prices.

I kick myself everyday for not buying property on Lake Norman and in the mountains when I first moved here in '97.
 
Joined
Sep 9, 2002
Messages
6,415
Location
Indiana
I saw someone finally made money on the first vinyl village house I bought in the mid 90s.
I was upside down on that place for years, records show someone bought it for $115k in 2017 and sold it last year for $170k. Looking at the pictures, with the exception of paint, new kitchen floor, and appliances it still has all the same shit it had when I owned it, cheap countertops, brass light fixtures and all.
 

r1racer

All Q All the Time
Joined
Jul 26, 2006
Messages
3,284
Location
New Jersey
Invest in tangible assets / commodities... puppet master beijing biden team are DEVALUING the American DOLLAR (Federal Reserve Central Bank aka FIAT) as FAST as they can.....


BitCoin is NOT a FIAT currency..... I'm not suggesting folks invest in BC..... just understand why it is going up FAST.....

New American currency backed by Gold is coming...... Look no further than Poland who escaped from Communism.....
👍


61888

 
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luckystrike

he/him - Chief Diversity and Inclusion Officer
Joined
Jan 1, 2002
Messages
53,159
Location
Inside Schiavo
Website
lemonparty.org
Invest in tangible assets / commodities... puppet master beijing biden team are DEVALUING the American DOLLAR (Federal Reserve Central Bank aka FIAT) as FAST as they can.....


BitCoin is NOT a FIAT currency..... I'm not suggesting folks invest in BC..... just understand why it is going up FAST.....

New American currency backed by Gold is coming...... Look no further than Poland who escaped from Communism.....
👍


View attachment 61888

Poland is going to get a great deal as governments, institution and individuals see the light and start dumping gold in exchange for BTC
 

Snail

BAMF. No. Really. As BAMF as they get.
Joined
Jan 25, 2002
Messages
20,745
Location
Oregon
Bubbles build, bubbles pop. The key is to be ahead of the curve, not at the apex. At this juncture I believe what CID mentioned is valid.

A lot of speculation buying, flipping for profit , and cheap money are driving the bus.
 

WARREN

BAMF+
Joined
Jul 10, 2004
Messages
12,324
Location
Calgary
same shit in Canada.
wife and I have been attempting to buy a place for 3 months now.
80% are the neighborhood misfits that aren't worth my time and the other 20% are bidding wars.

last weekend a spot came up at 12:37 a.m. by 8:00 a.m. it was already conditionally sold.
1.5% interest rates and low inventory are driving a lot of the activity
 

Terry_Schiavo

Moderately Banned
Joined
Sep 6, 2008
Messages
34,832
Location
North Flarida
Bubbles build, bubbles pop. The key is to be ahead of the curve, not at the apex. At this juncture I believe what CID mentioned is valid.
A lot of speculation buying, flipping for profit , and cheap money are driving the bus.
I think back and this was an issue in the early 90s as well but w/o the cheep monay. When I was a kid...$250k houses were upper middle class... now its starter home money.
 
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