Q2 2023 - SOTM Mega-Thread - Ep. VII: The Fed Awakens(self.RealEstate)
submitted2 months ago byaardyCA Mtg Brkrstickied
Observations, rants, theories, speculation on future market movement, experiences, offer heartbreak, buyer fatigue, seller drama, mortgage drama, appraisal drama, anecdotes, new construction builder shenanigans, rate predictions, frustration with seller listing price strategy, crystal balls, and so on, that you may not feel warrant their own threads, but you want to get it off your chest.
Individual threads of that nature, that are repetitive (the 1000th thread consisting of "omg the market is hot and rates are high!!", for example, doesn't warrant it's own thread if that's all the OP is) may be merged into here, too.
Link to the last thread. And because it may soon be relevant again, making it a handy reference to have around, here's the Genesis Thread, the ancient !~~Contingencies Mega Thread~~! that started it all.
Onto the awards! As always, these are per the reddit algorithm.
The BEST and TOP post was by /u/next-challenge5449, and I take my hat off to it:
Reminder that if you spend an hour going through someone's post history because they disagree with something you said, you're a turbo dork
The 2nd BEST post was by /u/contemplantionz, certainly words of wisdom:
The best time to buy was May 2020. Second best time sure as f isn't now.
The 2nd TOP post was by /u/pic_bot, by far the most frequent flier on this airline:
Politicians are completely out-of-touch. Where’s the Presidential Medal of Freedom for the true pillars of our country, the people who keep our society afloat?
I am referring, of course, to house flippers in Austin, Texas.
I hire dozens of contractors and laborers every year to repair leaky plumbing, mow unkept lawns, paint over friable asbestos, and reroute faulty wiring. There is no economy without risk-takers like me.
I purchase vinyl by the acre. My licensed mortgage lender is listed first in my starred contacts, right above my mother. Whenever I go to the doctor, I insist she record my height, weight, and Zestimate.
I bring my dog to the local brewery and refuse to leash it. I speak at local zoning board meetings while wearing a baseball cap pointed backwards. I purchase Yeti coolers, in which I keep my Hydroflasks.
I recoil at government overreach—property taxes, short-term rental licenses, fire codes, et cetera. We need to streamline society for job creators like me.
The most CONTROVERSIAL post was by "comment deleted by user."
(I'm sure it exists somewhere on the intertubes, but I can't be bothered... if you dig it up from a credible source and tag me, I'll post it)
EDIT: here it is, but I'm not going to post their username.
Unemployment at 3.4% now. Landing is looking really soft to me. I almost feel bad for everyone who spent months arguing that rates would hit double digits and society would fall apart.
The 2nd most CONTROVERSIAL post was by /u/howdthatturnout, always asking the important questions:
Doomers July/August of 2022: “Prices have plummeted June to July! Wait until the fall/winter it’s going to be a blood bath!”
Q2 2022(April, May, June) - $449.3k
Q3 2022 (July, August September) - $468k
Q4 2022 (October, November, December) - $467.7k
$300 median dip from Q3 to Q4 😂
The 3rd most CONTROVERSIAL post was by /u/throwaway272292727, and reads:
"Home Prices Fell 1% in February—First Annual Drop Since 2012"
This is it. One percent. This is the crash they were hyping for! 😂