Homebuilder Stocks

[Anonymous]

[quote=sdrealtor]Zero chance. Just a bitter jealous fool

And how could anyone not know anyone that lost their jobs in the recession. I know more than I can count in dozens of industries. The ones spared were those on the public sector soup line[/quote]

No, I know nobody who lost their job in the GR. Of course you do, you work in RE, your industry took the brunt of the damage. And your industry will also take a major beating in the coming Recession.

I also worked in a Tech startup during .com crash and also didn’t lose my job. As FLU has correctly pointed out, it was mainly the under-performers who lost their jobs at that time.

But to suggest that housing prices can only correct if everyone loses their job and it is the end of the world is just silly and not supported by the experience of the last crash

[sdrealtor]

Wrong. More of you talking out of your rear. With no concept how real estate works. Most people in real estate are self employed. We don’t lose jobs, we just lose income but not me! I had by far my best years during the recession. The people I saw losing jobs all over were in other industries.

I also worked in tech start ups back then. Built a great company and sold it to some dot comers that way overpaid for it. Made a killing on that and then worked in a tech incubator with some Fortune 100 C level executives. Was in a meeting with some silicon valley venture capitalists when the bubble burst and it was obvious things would never be the same. Was amazing to have a front row seat for that. Saw tons of people lose jobs and it had nothing to do with how good performers they were. The companies they worked for ceased to exist.

No one has suggested real estate can’t correct. What there is zero chance of is prices around here going pre pandemic. You sure make up lots of shit

[Coronita]

Dz you misquoted what I said. I never said only low performers get laidoff.

I specifically said during the dot com.days, a lot of people who aren’t really tech skilled … got tech jobs in shitty startups…and when dotcom blewup those people were forced out and neverfound tech work again.

You might not have been laidoff explicitly, but given you never returned back into tech , I think you probably were were in category of transitory temporary tech worker, employed by no offense a shitty startup that was just looking for bodies, which doesn’t really represent the tech community….companies like pets.com that felt sending a 40lb bag of dogfood throught FedEx was going to revolutionize pet industry and challenge brick and mortars. Or carorder.com that sold cars with a $7000 subsidy for the right to be their repeat customer on their website….lol… If that was the extent of your experience with tech, then that says a lot about your viewpoint of tech and the tech industry. For starters, chances are the scrapy startup you worked isnt really tech or tech work and isn’t representative of the quality tech
companies, just scratching the surface….And if your generalizations of tech industry is based on your limited experience of scrappy startup that is similar to pets.com, well that’s a pretty ignorant understanding of everything else.

Also, actually had the skills to work in tech and if you sat out of tech since 2001, the clearly you missed an opportunity of a lifetime there too because truely skilled tech workers might have temporarily lost their jobs in 2001/2,t they were able to find something better along the way and killed it. Only people who weren’t skilled and had no business being in tech couldn’t find something better post 2001. So if you had the skillset and simply sat out, that’s on you because chances are you are now too old to be taken seriously in tech if you haven’t kept current so that entire vertical is no longer available for you. Age discrimination is real in tech.

Is that what happened? You had a bad experience at 1 shitty startup, decided to get out of tech. Sat out for next few years, and upset that those that stayed say really great growth this past decade and youissed the boat?

[Anonymous]

FLU, stop making up shit about me and trying to extrapolate. I never said I stopped working in tech in 2001, I worked in tech several years after that.

And SDR I didn’t make up anything. People in RE industry got destroyed in 2008 and they will again. Sorry to burst your bubble. The fact that you are so defensive about this topic tells me all I need to know.

It’s just funny how pathetic the piggington site has become. The original main topic of the site was the housing bubble of the 2000s that there was a lot of open debate about it. Now we are in the mother of all bubbles, it is bursting right before our eyes, and all you have on Piggington are real estate hacks who attack and bully anyone who dares question the narrative that RE only goes up. Truly Pathetic.

[Anonymous]

[quote=Coronita]Dz you misquoted what I said. I never said only low performers get laidoff.

I specifically said during the dot com.days, a lot of people who aren’t really tech skilled … got tech jobs in shitty startups…and when dotcom blewup those people were forced out and neverfound tech work again.

[/quote]

LOL, how is what you said any different than saying low performers get laid off? Like SDR you just need to argue anything I say, even when we agree.

[sdrealtor]

[quote=deadzone]FLU, stop making up shit about me and trying to extrapolate. I never said I stopped working in tech in 2001, I worked in tech several years after that.

And SDR I didn’t make up anything. People in RE industry got destroyed in 2008 and they will again. Sorry to burst your bubble. The fact that you are so defensive about this topic tells me all I need to know.

It’s just funny how pathetic the piggington site has become. The original main topic of the site was the housing bubble of the 2000s that there was a lot of open debate about it. Now we are in the mother of all bubbles, it is bursting right before our eyes, and all you have on Piggington are real estate hacks who attack and bully anyone who dares question the narrative that RE only goes up. Truly Pathetic.[/quote]

I said people in many industries and you made it all about real estate. Of course many in real estate got killed . People got killed in many industries including financial services, retail, travel, construction, hospitality and many more. But many including yours truly made a killing. More than I ever made in my life in sales and investments. Truly a life changing opportunity of a lifetime it was. You talk about things you don’t understand.

You are a housecat. You wander around thinking you are so smart and independent. In reality You are entirely dependent on a system you don’t even have the most basic understanding of. Meow

[Coronita]

sdr… Just stop…..

Stop your meow-splaining….

[Coronita]

[quote=deadzone]FLU, stop making up shit about me and trying to extrapolate. I never said I stopped working in tech in 2001, I worked in tech several years after that.

And SDR I didn’t make up anything. People in RE industry got destroyed in 2008 and they will again. Sorry to burst your bubble. The fact that you are so defensive about this topic tells me all I need to know.

It’s just funny how pathetic the piggington site has become. The original main topic of the site was the housing bubble of the 2000s that there was a lot of open debate about it. Now we are in the mother of all bubbles, it is bursting right before our eyes, and all you have on Piggington are real estate hacks who attack and bully anyone who dares question the narrative that RE only goes up. Truly Pathetic.[/quote]

Lol, but you’re the one posting all this doom and gloom, and selectively 1 news article to support all your theory but then ignore everything else that contradicts what you post. You posted about amazon going back to the office, and I posted you recruiters and higher teams from amazon stating explicitly the opposite, and then you go silent…

The market goes up, you go silent. The market goes down, you come out swinging…The markets go back up, you go silent again. And you post about how screwed over people are going to get, who have fixed cost of living costs, when reality is you’re getting screwed over right now by inflation and variable living costs, that will probably keep going up too and that magically you’re going to be somehow in a much better financial situation than others if a catastrophic storm occurs. I get it, you feel you have to be right, because you pretty much banked your future on your convictions. Others didn’t choose that one-shot , one hit gamble approach…Too risky… Like I said, really good luck to you.

What’s really funny is you feel you need to be right. I don’t htink anyone else on this thread or any other thread you started feel we need to be correct…because whether we are right or wrong doesn’t materially change our financial situation one way or the other. I’m not married to my opnions nor banking all our financial future on my opinions or dependent on being 100% correct.But you sure seem like you need to be correct and smarter then everyone else. Which i think is really odd and funny. It’s as if you’re using piggington blog like group therapy to justify your decision and looking for some sort of validation of your direction and you’re not getting much validation, and you’re all butt hurt over it.

And yes, taking seriously financial advice from a blog section on the internet is very very risky. For example, if folks listened to you and didn’t buy anything 10 years ago, they would be in a situation right now of having paying rent more than mortgages on a sub-3% 30 year….times 10 years of payments to a landlord and missed out a great opportunity of a lifetime to fix the cost of a significant portion of one’s living expenses and achieve financial independence sooner….

Thank god I am too dumb and didn’t understand 90% of the content in the blog section. Dumb for the win.

[sdrealtor]

[quote=Coronita]sdr… Just stop…..

Stop your meow-splaining….[/quote]

But cats are the better investment. Meow

https://on.mktw.net/3rgSyUI

[Coronita]

[quote=sdrealtor][quote=Coronita]sdr… Just stop…..

Stop your meow-splaining….[/quote]

But cats are the better investment. Meow

https://on.mktw.net/3rgSyUI%5B/quote%5D

Yes, but cat food is not a good indicator of inflation. The average rate of cat food increase is only 1.97% annually since 1997.

https://www.in2013dollars.com/Pet-food/price-inflation

And i’ve said this years ago. Sees Candies gift certificates are great inflation hedges. The cost of 2 lbs of Sees Candies is ridiculously expensive now.

[sdrealtor]

When it comes to candy I’m consumption not investment oriented

[Coronita]

I don’t disagree rising rates would slow things down and might even seen some price decrease. But how large, not huuuuuge. But if it does happen…Sign me up for more rentals….

[sdrealtor]

Absolutely nothing to disagree with there. At some point the market will turn and prices should come down but pre-pandemic prices? ZERO chance

[sdrealtor]

I’ll put some real examples we can bookmark. Deadzone has guaranteed we will see prices at least below these levels. I have said zero chance.

This is a fully remodelled top to bottom (I saw it being done) 4/2.5 1986 SF twin home in Encinitas on perhaps the best street in this community. It sold right before pandemic for $819K. Same unit also remodelled across the street just sold for $1.45M

https://www.zillow.com/homes/804-Summerhill-Ct-Encinitas,-CA-92024_rb/16717209_zpid/

This one story in one of the nicer communities along the coast a 4/3.5 2722 sf home in S Carlsbad sold for $1.24M right before the pandemic. Same model directly across the street just sold for $2.225M

https://www.zillow.com/homes/2920-Camino-Serbal-Carlsbad,-CA-92009_rb/16712437_zpid/

For good measure lets throw one from Mira Mesa in. This 4/2 1320 sf one story completely gutted and remodelled sold for $630K right before the pandemic. A slightly bigger (1366 sf) 4/2 in a little nicer spot a few blocks away recently closed for $1.055M

https://www.zillow.com/homes/8606-Gold-Coast-Dr-San-Diego,-CA-92126_rb/16786183_zpid/

[Anonymous]

[quote=sdrealtor]Absolutely nothing to disagree with there. At some point the market will turn and prices should come down but pre-pandemic prices? ZERO chance[/quote]

I’m not guaranteeing anything. There are no guarantees in life. But going back to pre-pandemic prices is just a reversal of the completely in-organic, manufactured price gains that were caused by the Fed printing 4 trillion dollars during the Pandemic. Not out of the realm of possibility.
SDR doesn’t understand (or doesn’t want to understand) this simple reality. If the Fed gets out of the mortgage business, which they’ve only been in since 2009, the market would crater like you can’t believe. The entire housing market since 2009 has been artificially pumped, and during the Pandemic this was in hyper overdrive. If the Fed really goes through with plans to pivot on this policy, there is no telling where the real bottom is.

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