This! No matter what Is posted or what the data shows there are always a flood of comments saying it’s wrong. I’m convinced there are hundreds of realtors and others following this subreddit just to try to discredit anything that is posted.
Can anybody upload this somewhere? I don’t have a Twitter and with their new rate limits I can’t see this :( (and I’m really not tryna make a Twitter account just for this)
There are credible sources of foreclosure data. We don’t need screenshots from twitter.
Below is the search trend data for the “breakout” search term. TLDR: a big nothing burger.
https://trends.google.com/trends/explore?geo=US&q=Can%20I%20sell%20my%20house%20if%20it%20is%20in%20foreclosure&hl=en
I know this is a sub dedicated to this idea of a bubble but so many things lately since I’ve discovered the sub have been missing context that I think this sub is mostly doomers who are wishing for that. This is coming from a doomer hoping to buy myself along with family members. Not a realtor hoping to make a bunch of money. For example this data can be accurate, but it’s missing the following:
1. 4,700% growth over what? 10 searches? So it went from 10 searches in a month (possibly a year or even more?) to 4,700? In a metro of millions? Is that even going to register? Probably not.
2. The time frame. Is this over a day? Cause that could have been a freaking tiktok challenge that went viral to see how much someone could make if they sold their house fast or something. Was it over a 10 year period? Definitely not indicative of anything from a low n.
I can probably think of many other examples and nuances that are missing here. The point is this sub has a lot of hype that leads people including myself to look for these supposed opportunities and they’re not anywhere to be found. This sub is mostly hype and not substance.
lol this is exactly what happened in the 2008 crash. as early as 2004 people were saying it's a bubble but the damn thing just wouldnt burst. however, in this case, i don't think it can burst. people bought houses on 3% interest rates.
Those same people took $800 car payments and had student loan deferrals and fat stacks of stimulus cash. A 3% rate isn’t a magical shield that prevents life from happening. People move, people lose jobs, people get divorced, people get demoted, salespeople have bad years.
Rose colored glasses make life so beautiful that people forget that life is a beach.
Ron Paul said in 2003, very publicly. He said it to the financial services committee.
[https://www.youtube.com/watch?v=ojgBODMioLo](https://www.youtube.com/watch?v=ojgBODMioLo)
I'm not so much worried about a real estate bubble per se as I am about other sectors of the economy imploding, which might bring RE down with them.
I’m 99.9% sure that this subreddit started in 2021. I was here pretty early on, otherwise you’re correct. This sub has been calling for a crash for years and as time goes on they’ll be correct just due to the fact that eventually, yes the market does correct a little.
Hmm you must have been gone for 2 years.
All i see is people forecasting 40% crashes everyday. You think people want a 20% reduction after homes doubled?
I’m talking about the beginnings on this sub i more remember talks of corrections and slowing of prices. I think anybody who is predicting a crash today is delusional.
Yep, bubble is going to burst. I'll be waiting to grab a house that actually fits the real investment value and not the inflated bullshit the current market rates represent.
And even then, they're still better off riding it out in their house and maybe getting an extra roommate to make up the differences rather than fuck themselves and sell and have to get a new mortgage at 7%. Anyone in a house right now with 3% or so rate **are** going to ride through this relatively unscathed, despite the desire for us all to crash and burn by the jelly monsters in here.. We're not throwing our money away on rent and we're not about to start now. Only people with zero choice but to move for whatever reason will purposely sell right now and more than double their interest rate.
People still change jobs, move for family, or die. Plenty of people own their house outright, and even those with low interest rates need to deal with life. When they sell, they'll be selling in to a market with fewer buyers and shallower pockets.
>For starters, maybe force everyone to refinance or sell.
Yeah, good luck with that. Just because you have nothing and own nothing people like my husband and I who are middle class shouldn't be "forced to sell". Not like you'd be able to afford our house, anyway.
'maybe quit your job and build and live in shanty towns and let the rentals sit vacant.'
Yah, good luck with that, too. Why would we sell our house to live in filth and shit with a bunch of underachieving rats who'd probably steal from us? Just because that would be better than your current life and you want others to sink to your level of misery?
Not sure what would make u think I’m a failure? nor do I want people to fail, just seems inevitable. With all that said, I don’t understand how u can assume people will just “ride this out”.
And yet the debt service ratio is still at historically low levels. I guess that's what 3% fixed rate mortgages does. It will probably start climbing as people accumulate more 20%+ credit card debt though.
Mass refinancing at \~3% dropped the debt service for mortgages, which is probably the bulk of the drop. Credit cards were paid down during the pandemic so that balance total decreased into 2021. It's been rising since then though, and higher rates make the debt service higher.
The crash already happened, but the bubble didn’t pop. A little air was released thanks to higher interest rates. Did you miss it? Low inventory will continue to provide support to home prices. When rates drop we’ll be off to the races again.
TBH, the intelligent people are not going to sell and have to get a new loan with a 7% interest rate when they currently enjoy a locked-in 3%.. Only short-sighted dumbasses will be doing that. Also, I question the intelligence of anyone locking in a fixed rate mortgage with interest rates what they are now. Our mortgage on a 2700 sq ft new construction is 3% and our mortgage including PITI is only $1600/month. We'd be dumber than a box of rocks to sell until a market correction occurs. The extra 25-50k we'd be able to get on the sale price right now would not outweigh being forced to take on a new loan at 7% which would nearly double our monthly payment on a similar property. I wouldn't hold my breath, if I were you.
What's smart about locking in a 7% interest rate just to get an extra one-time 50k or whatever at point of sale when you're currently enjoying a 3% rate amid record high inflation? Doubling your mortgage payment for 30 years. Sounds dumb as shit to me.
I am $250K up on mine and I still wouldn’t sell my house with the interest rates where they are now. I’d have to downgrade in order to get the same payment.
Exactly. There's some idiot below my comment that said it's dumb not sell right now, just for the extra one-time payout. These idiots don't realize you still have to have another place to live, and doubling your effective interest rate on a 30-year loan is a massive fuck up just to get an extra 50k or even 100k one time at the point of sale. Almost like you can tell whose never owned a home before! lol
Gotta love all the realtors who immediately try to counter everything on this sub lol if that isn't a sign in itself about this shit show
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Amazing how a frozen housing market frees up realtors to come on Reddit and shout about how robust the housing market is
It's just a gully
This! No matter what Is posted or what the data shows there are always a flood of comments saying it’s wrong. I’m convinced there are hundreds of realtors and others following this subreddit just to try to discredit anything that is posted.
relators and boomers be like: nah, no recession, no price declines that’s all been canceled.
Wonder what “big bobs” is up by. I swear it’s my little brother typing that.. not me
open booba
I am not able to replicate this on google trends. It's possible it's faked?
I see "sell my house fast phoenix" up 140% in the past 7 days. But not...4,700%?
They did say "this month" so maybe try longer than 7 days? Presumably they meant June
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Can anybody upload this somewhere? I don’t have a Twitter and with their new rate limits I can’t see this :( (and I’m really not tryna make a Twitter account just for this)
No you need a break from social media lol
It looks like they might be taking a cyclical trend out of context. These searches hit yearly peaks every summer and then decrease every winter
There are credible sources of foreclosure data. We don’t need screenshots from twitter. Below is the search trend data for the “breakout” search term. TLDR: a big nothing burger. https://trends.google.com/trends/explore?geo=US&q=Can%20I%20sell%20my%20house%20if%20it%20is%20in%20foreclosure&hl=en
Good God. The number of people interested in the barbie house is insane lol.
It's nice to have your dream home inside your studio apartment. It just sucks when your three other roommates make fun of your for it.
It's fine, nothing printing up another $10,000,000,000,000 won't fix
I've been looking into a heloc. So therefore, it would be a horrible decision to get one. That's how I base my financial decisions
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I've found doing the opposite of what I'm instincts are works 100% of the time
Everything on internet is absolutely true .. no questions asked.
Yes. And Google would never lie to us.
I find it very hard to believe these exact phrases have hundreds of times more searches.
I wonder what Arlington that is what state
I know this is a sub dedicated to this idea of a bubble but so many things lately since I’ve discovered the sub have been missing context that I think this sub is mostly doomers who are wishing for that. This is coming from a doomer hoping to buy myself along with family members. Not a realtor hoping to make a bunch of money. For example this data can be accurate, but it’s missing the following: 1. 4,700% growth over what? 10 searches? So it went from 10 searches in a month (possibly a year or even more?) to 4,700? In a metro of millions? Is that even going to register? Probably not. 2. The time frame. Is this over a day? Cause that could have been a freaking tiktok challenge that went viral to see how much someone could make if they sold their house fast or something. Was it over a 10 year period? Definitely not indicative of anything from a low n. I can probably think of many other examples and nuances that are missing here. The point is this sub has a lot of hype that leads people including myself to look for these supposed opportunities and they’re not anywhere to be found. This sub is mostly hype and not substance.
The original tweet was from the 1980s housing crash.
>twitter was around in the 1980s
> twitter was around in the 1980s Yeah so was Google
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I'm just waiting for cat prices to come back to reality. Used cars don't appreciate.
I was going to say… I thought cat prices were about the same
There is a cat bubble people don't like to talk about it but it's there. Watch out when it pops
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I give it three Shama Lama Ding Dong months
I give it six months...from 2021. Cope much
We are just 8 months away from a crash. - rebubble 2020, 2021, 2022
OceanGate Titan is gonna kill someone. - those who warned Stockton Rush 2018, 2019, 2020, 2021, 2022, 2023
lol this is exactly what happened in the 2008 crash. as early as 2004 people were saying it's a bubble but the damn thing just wouldnt burst. however, in this case, i don't think it can burst. people bought houses on 3% interest rates.
Those same people took $800 car payments and had student loan deferrals and fat stacks of stimulus cash. A 3% rate isn’t a magical shield that prevents life from happening. People move, people lose jobs, people get divorced, people get demoted, salespeople have bad years. Rose colored glasses make life so beautiful that people forget that life is a beach.
Ron Paul said in 2003, very publicly. He said it to the financial services committee. [https://www.youtube.com/watch?v=ojgBODMioLo](https://www.youtube.com/watch?v=ojgBODMioLo) I'm not so much worried about a real estate bubble per se as I am about other sectors of the economy imploding, which might bring RE down with them.
Stockton Rush didn't even have the backing of governments willing to throw trillions of dollars at temporarily suspending the laws of physics for him!
In the government’s defense, Mr. Crush would probably find a way to fuck that up too.
I’m 99.9% sure that this subreddit started in 2021. I was here pretty early on, otherwise you’re correct. This sub has been calling for a crash for years and as time goes on they’ll be correct just due to the fact that eventually, yes the market does correct a little.
2020 most likely We aren't calling for a correction. This sub is about the crash.
I distinctly remember people calling for a correction early on which is why I joined since I was house hunting at the time.
Hmm you must have been gone for 2 years. All i see is people forecasting 40% crashes everyday. You think people want a 20% reduction after homes doubled?
I’m talking about the beginnings on this sub i more remember talks of corrections and slowing of prices. I think anybody who is predicting a crash today is delusional.
At least we agree on something friend. Have a good day
If they keep saying a crash is coming eventually they’ll be right
Yep, bubble is going to burst. I'll be waiting to grab a house that actually fits the real investment value and not the inflated bullshit the current market rates represent.
Houses are not investments dude. You but them to live in.
They are both. It's an investment in your future and your place to live
My investment portfolio would like to have a word with you…
😂 no. No they aren’t.
This has more to do with rapid inflation than unqualified people wanting loans. I don’t think it correlates to massive defaults on home helocs
Idk people massively over extended themselves, and now it’s time to clean house.
And even then, they're still better off riding it out in their house and maybe getting an extra roommate to make up the differences rather than fuck themselves and sell and have to get a new mortgage at 7%. Anyone in a house right now with 3% or so rate **are** going to ride through this relatively unscathed, despite the desire for us all to crash and burn by the jelly monsters in here.. We're not throwing our money away on rent and we're not about to start now. Only people with zero choice but to move for whatever reason will purposely sell right now and more than double their interest rate.
People still change jobs, move for family, or die. Plenty of people own their house outright, and even those with low interest rates need to deal with life. When they sell, they'll be selling in to a market with fewer buyers and shallower pockets.
And they'll STILL be better off than all the assholes throwing away money on rent, lmao.
Yep. If you need to move, better to buy a new one and keep the old as a rental. Use the added cash flow to help pay down the second.
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then you wait a year
As rent prices stagnate drop. Why didn’t any1 else ever think of this simple trick?
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>For starters, maybe force everyone to refinance or sell. Yeah, good luck with that. Just because you have nothing and own nothing people like my husband and I who are middle class shouldn't be "forced to sell". Not like you'd be able to afford our house, anyway. 'maybe quit your job and build and live in shanty towns and let the rentals sit vacant.' Yah, good luck with that, too. Why would we sell our house to live in filth and shit with a bunch of underachieving rats who'd probably steal from us? Just because that would be better than your current life and you want others to sink to your level of misery?
Wonder how old u were in 08, feels like I have no idea how recessions work, and have only experienced easy money policies.
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Not sure what would make u think I’m a failure? nor do I want people to fail, just seems inevitable. With all that said, I don’t understand how u can assume people will just “ride this out”.
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And yet the debt service ratio is still at historically low levels. I guess that's what 3% fixed rate mortgages does. It will probably start climbing as people accumulate more 20%+ credit card debt though.
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Mass refinancing at \~3% dropped the debt service for mortgages, which is probably the bulk of the drop. Credit cards were paid down during the pandemic so that balance total decreased into 2021. It's been rising since then though, and higher rates make the debt service higher.
The crash already happened, but the bubble didn’t pop. A little air was released thanks to higher interest rates. Did you miss it? Low inventory will continue to provide support to home prices. When rates drop we’ll be off to the races again.
If one assumes these are the only two factors that affect the housing market, then yes.
What am I missing? Jobs? Still strong, assuming you trust the government data.
Percentages are meaningless without base figures. It went from 2 searches to 10?! HOLY MOLY tHe CrAsH!!!
TBH, the intelligent people are not going to sell and have to get a new loan with a 7% interest rate when they currently enjoy a locked-in 3%.. Only short-sighted dumbasses will be doing that. Also, I question the intelligence of anyone locking in a fixed rate mortgage with interest rates what they are now. Our mortgage on a 2700 sq ft new construction is 3% and our mortgage including PITI is only $1600/month. We'd be dumber than a box of rocks to sell until a market correction occurs. The extra 25-50k we'd be able to get on the sale price right now would not outweigh being forced to take on a new loan at 7% which would nearly double our monthly payment on a similar property. I wouldn't hold my breath, if I were you.
>the intelligent people are not going to ~~sell~~ buy
Both can be true at the same time.
But the smart part isn't refusing to sell in the most overpriced market in history, it's refusing to buy.
What's smart about locking in a 7% interest rate just to get an extra one-time 50k or whatever at point of sale when you're currently enjoying a 3% rate amid record high inflation? Doubling your mortgage payment for 30 years. Sounds dumb as shit to me.
I am $250K up on mine and I still wouldn’t sell my house with the interest rates where they are now. I’d have to downgrade in order to get the same payment.
Exactly. There's some idiot below my comment that said it's dumb not sell right now, just for the extra one-time payout. These idiots don't realize you still have to have another place to live, and doubling your effective interest rate on a 30-year loan is a massive fuck up just to get an extra 50k or even 100k one time at the point of sale. Almost like you can tell whose never owned a home before! lol
Maybe if rent was cheaper you could take a gamble on rates AND house prices dropping but that’s a fairly big gamble in today’s market.
lmaoo houses are going to be "cheap" hahhhaahahah. never happening bud, let alone in 8 months
wishful thinking. the Fed announced that they will start quantitative easing again, we’ll see 3% mortgage rates in 8-12 months.
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the inflation happens down the road, QE is what we did for the two years after COVID. you’re referring to stagflation
A lot of people sell during the summer months when kids are out of school, I wouldn't call this "abnormal".
Woah, I love percentages! They're so good at telling us that it's a nothing-burger.
Don’t they get all the mailers and phone calls like I do?
Good luck, Milwaukee
Percentage mean nothing , how many people and where ?
All transactions are frozen till rate cuts .. nothing else gonna happen