My friend needs help understanding the real estate market. How would you respond?

[Oler Ted]

 

[TopHook]

View attachment 111048

Bet they have a student loan also.

 

[Oler Ted]

View attachment 111049
Bet they have a student loan also.

And an apple credit card

 

[TopHook]

And an apple credit card

Tell your buddy someone will be by shortly to buy it from his lender.

 

[American Deplorable]

This is why you should buy everything cash when possible.

 

[ttyh]

Tell your buddy I have a few houses to sell.

 

[TheNJNole]

Holy negative equity batman

 

[Jayhacker]

Sounds like a homebuyer during obummers reign. No money down was a big hit with these idiots.

 

[hmt5000]

Everyone Im hearing is saying to not buy now and if you haven't sold already you are fooked.

 

[Edgehollow]

I was going to take a day trip to Gatlinburg to look at a cabin today to buy for a AirBNB. I talked myself out of it. Prices down there right now just don't make sense. Hell, prices anywhere right now don't make sense. I think the rate hike will have houses sitting on the market longer, and will start to drive down pricing. Not a ton, but some.

 

[tiderollsonu]

Wait till he finds out about the stock market

 

[22*43*51]

Two words for your friend.

Beanie Babies.

 

[Rebarcock.]

Amazing how people don't understand how borrowed money works

 

[TopHook]

I was going to take a day trip to Gatlinburg to look at a cabin today to buy for a AirBNB. I talked myself out of it. Prices down there right now just don't make sense. Hell, prices anywhere right now don't make sense. I think the rate hike will have houses sitting on the market longer, and will start to drive down pricing. Not a ton, but some.

Where in gburg? We had one at chalet village that burnt down in the fire.

 

[Edgehollow]

@TopHook

Wears Valley. Close to everything but still away from the hustle and bustle. They were at 550K, and that just didn't make sense once I crunched the numbers.

Goal is to get a cabin there and a condo at the redneck Riviera (PCB) in the next couple of years.