The Great Unwinding

[Max]

That should take some of the wind out of the Charlotte housing market when mortgage rates catch the drift. It's been absolutely nuts for 5+ years. Paid $185K for a 1,450sq ft /.875 acres place in 2017. Turning away offers for $335K.

Conventional wisdom suggests values will remain largely the same in the coming months but buyers won't be stampeding new listings and open houses. Charlotte's just too hot of a market, and has been for some time now.

[Eagler]

Don't worry the housing market is going down as well

It's all over bloated with QE for the last 14 years with dropping interest rates at the same time

I am hoping they raise it a full point the next couple of raises

I think the faster the crash the faster they will reverse direction with lower rates and restart of qe and call it a day until it all bubbles up again...

Eagler

[CptTrips]

Digital tulips continue to implode. 
Essentially a 1930's style bank run for the gen Z and millennial set.
You want a panic?  Tell people it's not currently convenient to allow them to access their money.   
Especially if people are needing to liquidate those assets to cover margin calls.

https://youtu.be/UqW-yrwIDJw

[CptTrips]

Feelin like some stock market porn?

I just re-watched a lesser known movie, Margin Call.  Underrated IMHO.  While not named, it is largely based on the internal events happening at Lehman Brothers during the GFC collapse.

I had re-watched The Big Short last week.  Loved the movie and book.  Both did and amazingly good job at explaining complex stuff in a way that was approachable by average people. 

Honorable mentions worth considering:  Boiler Room, Wolf of Wall Street, though not stock oriented, Glengarry Glen Ross is a great taste of the unsavoriness of business.

Too Big to Fail was interesting, but perhaps a bit too deferential to the Fed and big banks.  YMMV.

[Brooke]

Boiler Room is another excellent finance movie.

[Edit:  Oops.  I see Cap mentioned it already.]

[zack1234]

Your investments are based on the Chinese economy

Your enemy

Digital tulips is a very good, someone knows Dutch history except Shida

How do you people sleep at night?

People in Harlem and Detroit on welfare while your biggest companies employ your enemies

Shame on you

[guncrasher]

Boiler Room is another excellent finance movie.

[Edit:  Oops.  I see Cap mentioned it already.]

that pretty much sums up stock brokers.  along with the wolf of wall street.  what is it that he say, nobody warren buffet, jimmy buffet knows if the market is going up or down.  you come up with another idea because that's how you come make money by commissions mf.


semp

[Eagler]

Your investments are based on the Chinese economy

Your enemy

Digital tulips is a very good, someone knows Dutch history except Shida

How do you people sleep at night?

People in Harlem and Detroit on welfare while your biggest companies employ your enemies

Shame on you

Wow a zach post I agree 100% with

Eagler

[Eagler]

Dead cat bounce today is my prediction
.....
Or maybe not...

Eagler

[zack1234]

Wow a zach post I agree 100% with

Eagler

 

[CptTrips]

Oh, I thought QT had already started. 

It doesn't actually start until tomorrow.  The same day they might announce a surprise 75 basic hike.

[CptTrips]

That should take some of the wind out of the Charlotte housing market when mortgage rates catch the drift. It's been absolutely nuts for 5+ years. Paid $185K for a 1,450sq ft /.875 acres place in 2017. Turning away offers for $335K.

Conventional wisdom suggests values will remain largely the same in the coming months but buyers won't be stampeding new listings and open houses. Charlotte's just too hot of a market, and has been for some time now.

https://www.cnbc.com/2022/06/14/30-year-mortgage-rate-surges-to-6point28percent-up-from-5point5percent-just-a-week-ago.html

I believe a lot of the housing pressure is being driven by investor/flippers.  That is only feasible when money was essentially free.  There was intense pressure in the last year to squeeze out as many deals as possible while rates were still low.  That is all about to implode.

The collapse of investor\flipper pressure combined with regular buyers fear and insecurity (people will start worrying when layoffs start) will have a huge impact on the housing market.

And this time it is much more wide spread than in 2008.  in the GFC, Texas was much less effected than many markets.  This time it's a nation wide phenomenon.  Austin, DFW, are hugely over inflated. 

[Eagler]

2009 had a cable contractor installing data service who was a flipper the year before...

It will be the same this time

Eagler

[CptTrips]

Real estate investors bought a record 18.4 percent of the homes that were sold in the United States in the fourth quarter of 2021, up from 12.6 percent a year earlier, according to the realty company Redfin.

https://www.nytimes.com/2022/04/23/us/corporate-real-estate-investors-housing-market.html#:~:text=But%20their%20share%20is%20growing,to%20the%20realty%20company%20Redfin.

[CptTrips]

mistake post.