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Posted
1 minute ago, Gil Bang said:

the fed is losing credibility?   I would argue the exact opposite.  The fed is doing their thing against extreme political pressure.  They're ignoring the static. 

Agree- sorry I wasn’t clear. If the FED succumbs to the pressure, I meant, or the new chair is seen as a rubber stamp, or some hack is appointed to replace Kugler and then Powell is forced out of his governorship before it ends in ‘28, but after his term as chair ends in ‘26, etc. 

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Posted

Saw yesterday where the median home price is 57% higher than the national median income. I am out of pocket right now, so I can’t look up the article. But that is the all time record. 
 

CHIEF

Posted
On 8/14/2025 at 2:40 PM, Captainant said:

I did a quick search and the spread is bigger than that

https://www.statista.com/chart/34534/median-house-price-versus-median-income-in-the-us/

image.thumb.jpeg.3343da29f45b5a9127730b1612858e38.jpeg

Somewhere you have to factor in the fact that during those 40 years builders started building McMansions instead of two and three bedroom houses - because no one would buy them.   Everyone can afford the houses that I grew up in, but who the hell wants to live in a house with two or three bedrooms and one or two baths?

I totally get the tiny house trend.  And happiness is being able to meet your needs and still do fun things after your nut is paid for - and not go deeply into debt.  Not needing a fortune in income just to meet your basic food and shelter needs (because of self-inflicted over-purchasing) is far from impossible if you set your goals more realistically.

It is interesting that the older I get - having things that used to be seen as extravagant are now deemed to be necessities.  

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Posted
2 hours ago, Gatorubet said:

Somewhere you have to factor in the fact that during those 40 years builders started building McMansions instead of two and three bedroom houses - because no one would buy them.   Everyone can afford the houses that I grew up in, but who the hell wants to live in a house with two or three bedrooms and one or two baths?

I totally get the tiny house trend.  And happiness is being able to meet your needs and still do fun things after your nut is paid for - and not go deeply into debt.  Not needing a fortune in income just to meet your basic food and shelter needs (because of self-inflicted over-purchasing) is far from impossible if you set your goals more realistically.

It is interesting that the older I get - having things that used to be seen as extravagant are now deemed to be necessities.  

The huge outlier is the pandemic. House prices almost doubled between 2019 to 2020-2021, in my market. Free government cheese, 3.5% interest rates, and reduced expenses of not showing up to your job every day artificially inflated the market. We are seeing a reckoning. My mother has been a realtor for over 50 years, and has still never seen anything like that time period.

I'm thinking about building spec homes again. They will probably be on sub $20k lots, water available, aerobic septic, barndominium kits on slabs, and spec interiors. I can do this, in Granbury for under $200k with not much margin, but they will all be sold before I complete them. Not something I have to do, I can wait it out for the first movement of interest rates decreasing. But, to be honest, I'm bored, and young couples, around here, need a break.

CHIEF

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Posted

What do you guys think about the more recent move into housing by private equity?  

I read something last year for example in the Temple area North of Austin, that roughly 1/3 of all single family housing purchases were corporate rather than individual. This seems much higher to me than historically, and I would think would pressure prices upwards at the bottom end of the spectrum. Folks have been buying and accumulating rental properties for years.  But I never recall it being in this high percentages outside of maybe after the S&L Crash?

Seems like the majority of the homes were in that middle to lower class price affordability range.  

I have no access to the privy data some of you guys have.  Just wondering what sort of influences increased corporate entry into the marketplace?  I could point to Zillow's failed buy/remodel/flip model as a failed corporate example.  But I am talking about buy/hold/rent increased percentages in aggregate.  Which I am ASSUMING is correct.

Please correct me if I am wrong?

 

Posted
2 minutes ago, horn4life said:

What do you guys think about the more recent move into housing by private equity?  

I read something last year for example in the Temple area North of Austin, that roughly 1/3 of all single family housing purchases were corporate rather than individual. This seems much higher to me than historically, and I would think would pressure prices upwards at the bottom end of the spectrum. Folks have been buying and accumulating rental properties for years.  But I never recall it being in this high percentages outside of maybe after the S&L Crash?

Seems like the majority of the homes were in that middle to lower class price affordability range.  

I have no access to the privy data some of you guys have.  Just wondering what sort of influences increased corporate entry into the marketplace?  I could point to Zillow's failed buy/remodel/flip model as a failed corporate example.  But I am talking about buy/hold/rent increased percentages in aggregate.  Which I am ASSUMING is correct.

Please correct me if I am wrong?

 

I think it spells bad news for housing prices stability.  High likelihood of panic sale liquidation at SOME point brought on by some black swan.  That could be 2 months from now or 10 years. 

Or perhaps the government gets there first and forces PE/VC entities to liquidate their positions as that is a political sentiment gaining popularity.

 

Posted
26 minutes ago, horn4life said:

What do you guys think about the more recent move into housing by private equity?  

I read something last year for example in the Temple area North of Austin, that roughly 1/3 of all single family housing purchases were corporate rather than individual. This seems much higher to me than historically, and I would think would pressure prices upwards at the bottom end of the spectrum. Folks have been buying and accumulating rental properties for years.  But I never recall it being in this high percentages outside of maybe after the S&L Crash?

Seems like the majority of the homes were in that middle to lower class price affordability range.  

I have no access to the privy data some of you guys have.  Just wondering what sort of influences increased corporate entry into the marketplace?  I could point to Zillow's failed buy/remodel/flip model as a failed corporate example.  But I am talking about buy/hold/rent increased percentages in aggregate.  Which I am ASSUMING is correct.

Please correct me if I am wrong?

What are you talking about? Owning large swaths of property and extracting wealth from the poors that live on it is the basis of every modern healthy economic system. 

Posted
2 hours ago, Royalfan5 said:

I'm glad that looks exactly like I would imagine a Bill Walton house would look like. 

Why are all the feet on the furniture fucked up?

 

 

Sorry couldn't resist..

Posted
15 hours ago, UTPhil2006 said:

Free processing fee code Astros 

Code has been rescinded as Prodigy would like to no longer have a relationship with the team in Houston til they decide to win again 

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Posted
42 minutes ago, Bozo_Casanova said:

“The problem is greedy developers and corporate landlords ” 

meanwhile:

image.thumb.png.c00033e4d10ea43e0a6ec56fc998e43c.png

The median American is waaaaay down the scale of assets compared to slum lords and private equity groups buying up houses. Because they keep the prices high with an increasing share of overall new purchases, it prevents property values from correcting downwards and continues to reinforce housing inflation 

Posted (edited)
1 hour ago, Captainant said:

The median American is waaaaay down the scale of assets compared to slum lords and private equity groups buying up houses. Because they keep the prices high with an increasing share of overall new purchases, it prevents property values from correcting downwards and continues to reinforce housing inflation 

How do they do it? Volume.

 

Edited by Bozo_Casanova
Posted
16 hours ago, Im_smarter_then_you said:

image.thumb.png.e407f84226b4ca1925b1f3be3b493a1a.png

This type of scam is a huge problem in the real estate industry. If anyone is buying property be sure to double check the wiring instructions before sending any money 

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Posted
13 minutes ago, Hammerin Hank said:

This type of scam is a huge problem in the real estate industry. If anyone is buying property be sure to double check the wiring instructions before sending any money 

Both times I've bought my house I make sure to print out a physical hard copy of my wiring instructions, verify the hard copy with my bank and escrow over the phone, and kept it in a folder to make sure I didn't make that fuckup. My downpayment was only a quarter of theirs but JFC what a nightmare

Posted
20 minutes ago, Captainant said:

Both times I've bought my house I make sure to print out a physical hard copy of my wiring instructions, verify the hard copy with my bank and escrow over the phone, and kept it in a folder to make sure I didn't make that fuckup. My downpayment was only a quarter of theirs but JFC what a nightmare

Yep we explain it several times and have the title company also explain it several times and then also say before you do anything physically pick up the phone and verify the wire info with the escrow officer. 

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Posted

It’s absolutely ridiculous that in 2025 we’re still using a real time gross settlement system from 1915 that relies on data entry and manual human verification, and yet somehow that’s not even the worst and least efficient part of the global payment network. 

Posted
36 minutes ago, UTPhil2006 said:

Yep we explain it several times and have the title company also explain it several times and then also say before you do anything physically pick up the phone and verify the wire info with the escrow officer. 

Yep.  It's the title company hold music at many a place I call. It's on all of title's signature line. I made a video and sent it as part of the process along with us putting it in emails and telling people verbally.  

And yet... I've only had 1 person out of close to 1,000 closings probably that fell victim to this and thankfully it was only like $6500.00.  That wasn't fun for her but it wasn't a life changing dose of stupid tax.  

Now- this is crazy- when I sold my house the title company got scammed on the payoff for my house and 3 others on the same day.  $150k for me- $700k total overall.  The scammer broke into their email and subsituted 1 payoff for another.  Fucking diabolical.  I looked at it even knowing there was a problem and didn't figure it out until I called my bank that was supposed to receive the payoff (I thought it was my bank screwing up and assigning it to the wrong payoff account) and they were like- yo- this aint are wiring instructions or account number.  Crazy how good that one was.
The guy that owned the title company ended up making my mortgage payment for 9 months before his E&O broke off most of the check for like $550k (he had to eat the other 150k total). I felt so bad for that poor son of a bitch. It was a mom and pop title company and not first am which would have been pissed but just shrugged it off. 

Nightmare fuel if you are in the title business.  They call and verify every single person's wiring instructions now for every transaction in the industry as part of best practices now.  Yuck.

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