That`s for April & May when we were in lockdown... NYC RE just reopened today, so as expected....
ES Journal - 2019/2020
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That`s for April & May when we were in lockdown... NYC RE just reopened today, so as expected....
There's just certain nights... maybe it comes from decades of playing this game as an amature... but its just every now and then I get this vibe... I can't explain it. I guess I just take in everything that has transpired in the world leading up to that night and I know what the mood of WS will be the next day. Last night we were driving back in town and about 20 minutes before the open... it just hit me. I just knew. And I knew it was gonna drop at the open before it went up. As soon as I got back I made that post.
This just in: Home mortgage delinquencies reach highest level since 2011.
That means in 1 year, the market will be flooded with foreclosure properties.
So your strategy is: sell your house now, rent for a year, come back into the market and buy cheap next year.
https://www.bloomberg.com/news/arti...-delinquencies-reach-highest-level-since-2011
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I call that market intuition ... I know exactly what you`re referring to... Great call VZ!
I call that market intuition ... I know exactly what you`re referring to... Great call VZ!
Fun Fact: I used to follow a trader that implied if the pivot point holds you should target the high of the previous period. In this case, last week's pivot was around 3046.50. (very close to your entry!) He also reported some research that mentioned if the weekly close was above the pivot, then the high would be revisited with around a 75% probability. Since 3059.5>3046.5, let's see if we get 3156.25!
good call! vanzandt
That`s definitely not what it means... This is an outlier & direct result of Covid... Think of The Real Estate market as a slow slow moving oil tanker that takes years to develop an abrupt move like you`re predicting... For one to sell their primary residence now & buy back a year from now would most likely lose money after taking a 5% hit to sell with hopes of buying back to net a profit... a good portion of the delinquencies are people taking advantage of the 6 month grace period given by lenders...
The delinquency count includes homeowners who missed payments as part of forbearance agreements, which allow an initial six-month reprieve without penalty. Many of those borrowers initially made payments despite qualifying for the relief plans
I want to be long hard assets right now & want to continue to get longer rental properties...
I call this the triple play Plus write offs.... Monthly income, equity build, principal paydown & tax write offs.... not to mention a little diversity hedge... my properties are all leased & performing what I stated above....
@Spooz Top 2 ... Who will qualify for a QM loan going forward? not many, you think? Non-QM loans are slowing coming back online but with much much tougher guidelines. I just don't see many qualifying for a purchase. Refi yes, but purchase will take a hit. What ya think?
Why RE? With all the dramas of low returns and high maintenance....
Why not stick to one core competency and invest in stocks?
Trading stocks need not be one night stands, rather just trade the trends.
https://www.marketwatch.com/story/h...-gets-hammered-again-2020-06-22?mod=home-page
May be some trouble for first time home buyers but there are various sellers... upsizers, downsizers, retirees, investors, etc. Baby boomer inherited wealth will also help out the first time buyers as well....
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