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California homes sales crashing... so goes the nation

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posted on Jul, 25 2018 @ 09:21 PM
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originally posted by: interupt42

originally posted by: ketsuko
It's California. No one can afford to live there, so they are all leaving.


What are you talking about people cant afford to live there?


Its California liberal heaven where everyone is equal and more than willing to share their money with others. Those Californians are known to fight for the poor , minorities, women, and the homeless and not only do they have the loudest voices but the deepest pockets as well. Surely they will dig deep into their own pockets to help the poor people that can't afford housing. I'm sure they would be willing to downsize from ONE of their 20k sq foot mcMansions to a measly 10K sq ft home if it helps the needy. Heck they will likely even let them stay with them. Just look at how passionate they are about helping those that cant help themselves.


Socialism is great, until one runs out of other folks' money
They have.




posted on Jul, 25 2018 @ 09:21 PM
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Dudnt have thing to do California

De banks. ...DANG BANKERS....last two months some slob in Congress was saying we need higher mortgages
edit on 25-7-2018 by GBP/JPY because: (no reason given)



posted on Jul, 25 2018 @ 09:34 PM
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originally posted by: toysforadults
California is about to do it again, crash the economy. It's already teetering on the brink of failure. I've been watching this closely recently.

"As goes California so goes the nations" - no idea

California homes crash


Sales of both new and existing houses and condominiums dropped 11.8 percent year over year, as prices shot up to a record high, according to CoreLogic.
The median price paid for all Southern California homes sold in June was a record $536,250, according to CoreLogic, a 7.3 percent increase compared to June of 2017.
In the past, California, one of the largest housing markets in the nation, has been a predictor for the rest of the country.





California could implode and it would have very little influence on the rest of the country...way to go Cali..
edit on Wed Jul 25 2018 by DontTreadOnMe because: trimmed overly long quote Quote Crash Course



posted on Jul, 25 2018 @ 09:35 PM
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Im in California

There is a house down the street that the old woman died and homeless moved in and squawted. Now the windows are all boarded up. Its a 3 bedroom, 2 bath at about 1500 sq feet. It just sold real fast, as is, for $225,000.


That last big crash, there were boarded up houses all over town, and lots of homeless on the street. Now you can understand why I am so impatient with progressive Liberals. This state is a product of their sick, poor leadership, and they are making people suffer. This poor leadership in California affects the whole planet. Liberal sanctuary cities infested wit crime, drugs, needles on the playgrounds and in parks, and homeless roaming the streets and digging through garbage barrels. I have seen people reach into a garbage can, pull out partial eaten food or drink, and proceed to consume it...

You all better hope and pray your home towns don't follow suit....



posted on Jul, 25 2018 @ 09:35 PM
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a reply to: GBP/JPY

source



Homeowners are using home equity cash to pay down other debt in order to lower monthly payments.


This is what's really scary about housing losing value. People having to use their home equity to keep up with their other debt's they have acquired in the last few years keeping up with the jones's.

So their home equity is bottoming out AND their home will start losing value.



posted on Jul, 25 2018 @ 09:38 PM
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The downturn in housing bubbles coincides with China's tightening of capital flight. Causing housing prices in Australia to drop in the last nine months as well.

That probably explains why Trump has been hell bent in bullying China of late. Telling them if you pull the rug from underneath our economies make sure your not standing on the rug as well!

Without all that money entering our economies we are back at square one (2008). But this time we will have a lot more debt to pay off.



posted on Jul, 25 2018 @ 09:40 PM
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originally posted by: toysforadults
a reply to: GBP/JPY

source



Homeowners are using home equity cash to pay down other debt in order to lower monthly payments.


This is what's really scary about housing losing value. People having to use their home equity to keep up with their other debt's they have acquired in the last few years keeping up with the jones's.

So their home equity is bottoming out AND their home will start losing value.


For the most part, people are financial idiots...

I hate to say, but you can't protect people from themselves.



posted on Jul, 25 2018 @ 09:42 PM
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originally posted by: glend
The downturn in housing bubbles coincides with China's tightening of capital flight. Causing housing prices in Australia to drop in the last nine months as well.

That probably explains why Trump has been hell bent in bullying China of late. Telling them if you pull the rug from underneath our economies make sure your not standing on the rug as well!

Without all that money entering our economies we are back at square one (2008). But this time we will have a lot more debt to pay off.


The Chinese elite have been using luxury real estate in the west to get money out of China. Glorified money laundering.



posted on Jul, 25 2018 @ 09:47 PM
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a reply to: Edumakated

No and I'm not trying to.

I'm just tracking trends. I plan on investing in the near future.



posted on Jul, 25 2018 @ 09:48 PM
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a reply to: glend

That's a good point.

When Trump gets the policies he wants out of the fed they are going to print money again.

He has stated that devaluing the currency is going to attract foreign investors and its logical from his standpoint however we will feel it the most.



posted on Jul, 25 2018 @ 09:49 PM
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When single family homes cost $1 million and above on land that is parched from poor resource management you have to wonder why it has lasted this long, to begin with.
edit on 25 7 18 by projectvxn because: (no reason given)



posted on Jul, 25 2018 @ 09:52 PM
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a reply to: projectvxn

Good question, why?



posted on Jul, 25 2018 @ 09:54 PM
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a reply to: toysforadults

Heavy government favoritism.



posted on Jul, 25 2018 @ 09:55 PM
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originally posted by: IgnoranceIsntBlisss
a reply to: toysforadults

Go do Amazon Prime for a few months, then come tell everyone how there's any room in the future for anyone who isnt their lacky minion.

I work for an outdoor clothing company. We get this question quite often "Why don't you offer free 2 day shipping like Amazon does"' People are forgetting they pay for that service. The company I work for broke 1 billion in sales. The percentage of people who complain is fractional.
On the other side of that, I also worked for the USPS and their Amazon delivery makes a huge percentage of their delivery load. The Sunday delivery we did went from around 40-50 parcels when I first started, to around 120-145 when I quit. Now days I see them out past 6 pm delivering Amazon on Sundays. Amazon is huge with something like 40 distribution center where as my new job, we only have 2. And the second one only went live last month.



posted on Jul, 25 2018 @ 09:59 PM
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a reply to: toysforadults

If we do tank again, there will be no bailouts.

Lets do the 4-D chess thing.

Trump will let his opponents use the economic collapse threat....check his king. Then a "misplaced" pawn resurrects Trumps queen and wins the game from behind the opposing defenses. Check mate.

Trump is castled with two bishops in line of sight of his towers.

We will regain control of our money supply within 7 years, IMO.

Every move is a losing move when there is a gun under the table.

Every move is seen when there is a gun ON the table as well. Everyone sees even those actions done under the game.

Everyone then, even those not playing, then become aware.

Except for the misplaced pawns. Those can get you.


edit on 7 25 2018 by tadaman because: (no reason given)



posted on Jul, 25 2018 @ 10:03 PM
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a reply to: projectvxn


The Capitalist model is in need of an overhaul, In the UK some housing estates are as bad as California, Stoke on Trent is selling some houses for one pound



posted on Jul, 25 2018 @ 10:09 PM
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So, interest rates went up and surprisingly the number of buyers for $500,000 homes went down.

They have just run out of people who can purchase such expensive houses.

Sell your home in California and move somewhere that is more affordable.



posted on Jul, 25 2018 @ 10:17 PM
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The prices of homes in California is not justifiable. They also have so many local property taxes in some area that people should not be able to afford to live there. California housing collapsing does not have to mean the rest of the country is going to flop. But if enough people believe it will, I guess we are in line for a crash.

Our economy is too susceptable to crash because it is built to tightly on false beliefs instead of stable economic practices.



posted on Jul, 25 2018 @ 10:43 PM
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a reply to: Edumakated

Ex-real estate broker here. Been through a few bubbles and bursts and we are ripe for a burst for many reasons.

Low rates-high prices with stagnant people in the work force-we are tapped out and going sideways and backwards with salaries and there is nowhere to go for first time buyers-who essentially move the housing market forward.

Our government, once again, has propped up the wall street economy-and the reality of lowered imports, exports, higher oil prices, new international agreements stalling, is finally starting to effect our economy.

Just read China has stopped gobbling up properties in Florida. Why do you think that is? No buyers for their cheap, older homes because the buyer for those homes can't qualify in this over-inflated economy.

Cali is just the beginning. NY/Manhattan is starting to feel it, too-but it's always going to be a roller coaster economy.

Hang on to your hats. It's coming.



posted on Jul, 25 2018 @ 10:45 PM
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a reply to: toysforadults




Sales of both new and existing houses and condominiums dropped 11.8 percent year over year, as prices shot up to a record high, according to CoreLogic.


Don't blame California here. People don't want to buy over priced houses. Especially when there's instability.

I see the writing on the wall. It's gonna be a repeat of Bush era tax cuts tanking the economy.

I'm also hearing that sub prime lending has made a come back.

So get ready to see a drop in property prices. Hopefully a nice cut in half this time around. I really want to get a house cheap this time.



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