• Welcome to OGBoards 10.0, keep in mind that we will be making LOTS of changes to smooth out the experience here and make it as close as possible functionally to the old software, but feel free to drop suggestions or requests in the Tech Support subforum!

Stock Market Crash

Assuming the economy bounces back in a v curve like many are predicting, will housing really be that affected? I guess it depends how long the social distancing/unemployment lasts. Seems like there will be a massive amount of pent up demand in many areas for people who have not lost jobs (Charlotte, Raleigh, Austin, etC). I guess they're could also be an even more massive influx of supply of people who have (or passed away).

Either way, feeling thankful we lost out on 3 different houses with bids well over asking price in the last 2.5 months, as frustrating as that was.
 
I don't think the fundamentals of the Charlotte housing market have changed. Population increase may slow for 2020 which may soften demand for apartments from the younger crowd. Single family home in the South Charlotte wedge is still a desirable asset, even if the market is a little frozen for a few months. It will be interesting to see what "pent up demand" v. "need to sell" does to pricing when more homes start coming back on the market.
 
My house in Columbia, SC goes on the market Thurssay so we'll see how it goes. In the short term, my agent says it slowed down as soon as schools shut down but it has picked back up since. Anecdotally, I know several smaller houses (3/2) in my neighborhood have gone under contract in less than 3 days. We'll see what happens.
 
WFFaithful said:
This bump will not last much longer. Market will crash. Housing market is looking bad. Fed may have caused some of that problem.
Click to expand...

I agree we're not going to see a V shaped recovery, and we're likely in for a significant sell-off (probably after the next intelligence committee briefing) when investors who wish they got out sooner get comfortable and pull the trigger. But, this isn't 2008. Our financial institutions aren't on the brink of disaster. Banks aren't failing. This is a very serious, temporary problem. Given that there is literally a cure on the way, I have a hard time understanding how the sky is falling from people who are not on the brink of retirement.
 
wakelaw13 said:
I agree we're not going to see a V shaped recovery, and we're likely in for a significant sell-off (probably after the next intelligence committee briefing) when investors who wish they got out sooner get comfortable and pull the trigger. But, this isn't 2008. Our financial institutions aren't on the brink of disaster. Banks aren't failing. This is a very serious, temporary problem. Given that there is literally a cure on the way, I have a hard time understanding how the sky is falling from people who are not on the brink of retirement.
Click to expand...

What if we're still social distancing through the summer? You don't see where whole segments of the economy just crater? I might be a little more anxious since my livelihood is very much a seasonal hospitality/recreation industry, but I can't imagine that a summer spent at home will be good for the economy.
 
Deacfreak07 said:
What if we're still social distancing through the summer? You don't see where whole segments of the economy just crater? I might be a little more anxious since my livelihood is very much a seasonal hospitality/recreation industry, but I can't imagine that a summer spent at home will be good for the economy.
Click to expand...

Assuming the vaccine is available January of 2021, I think the recovery will still take 2-3 years. I expect we will be social distancing through the summer, at least some form of it. There will be easing on the current restrictions once the curves flatten and drop, like allowing restaurants to operate table-only and at 50% capacity. This is a very serious and economically painful situation. But with a vaccine and herd immunity, this disease will be less of a concern than the flu based on the lack of mutations. My point is, I'm focused on 5-10 years from now, not 6 months in terms of investing.
 
wakelaw13 said:
Assuming the vaccine is available January of 2021, I think the recovery will still take 2-3 years. I expect we will be social distancing through the summer, at least some form of it. There will be easing on the current restrictions once the curves flatten and drop, like allowing restaurants to operate table-only and at 50% capacity. This is a very serious and economically painful situation. But with a vaccine and herd immunity, this disease will be less of a concern than the flu based on the lack of mutations. My point is, I'm focused on 5-10 years from now, not 6 months in terms of investing.
Click to expand...

giphy.gif
 
The thing I'm worried about is how many service workers will lose their jobs to machines. How many servers or counter workers will be replaced by kiosks or hand held ordering.
 
RJKarl said:
The thing I'm worried about is how many service workers will lose their jobs to machines. How many servers or counter workers will be replaced by kiosks or hand held ordering.
Click to expand...

That was happening anyway, and it's much bigger than servers/counter workers. Trucking will be a huge loss as it is one of the best paying blue collar jobs that is widely available. The upside is you will have growth in the industries manufacturing and servicing those machines. And instead of poverty wages, they will be high-paying.
 
tigerswood said:
Assuming the economy bounces back in a v curve like many are predicting, will housing really be that affected? I guess it depends how long the social distancing/unemployment lasts. Seems like there will be a massive amount of pent up demand in many areas for people who have not lost jobs (Charlotte, Raleigh, Austin, etC). I guess they're could also be an even more massive influx of supply of people who have (or passed away).

Either way, feeling thankful we lost out on 3 different houses with bids well over asking price in the last 2.5 months, as frustrating as that was.
Click to expand...

Anecdotally, my house is on the market right now and there has been some interest. Short-term I think there are two competing forces, people that have to sell will take a lower price because of impending uncertainty and people that have to find a new place will perhaps pay more to get the decisions over with and stop having to go look at houses. The really challenging part is doing showings because owners don't want strangers wandering around the house touching everything and vice versa buyers don't want to be going around potentially contaminated houses. We vacated the property and stayed at our new house for the last 10 days, but we needed to return for a few nights, so my wife and I showed up and fucking Lysoled everything.
 
wakelaw13 said:
That was happening anyway, and it's much bigger than servers/counter workers. Trucking will be a huge loss as it is one of the best paying blue collar jobs that is widely available. The upside is you will have growth in the industries manufacturing and servicing those machines. And instead of poverty wages, they will be high-paying.
Click to expand...

remember when jh prayed for a trucker life for his kids?
 
DistrictDeacon said:
#humblebrag
Click to expand...

lol. First time I got a humble brag. I only have 4 bedrooms but it is a different price point in my neighborhood. Also, it is in Columbia, SC... not a humble brag.

What is nuts is that my mortgage is currently 1/2 of the monthly rent I pay for a 1 bedroom apartment in Northern California.
 
“I only have 4 bedrooms.” Keep pouring it on.
 
forensicdeac said:
lol. First time I got a humble brag. I only have 4 bedrooms but it is a different price point in my neighborhood. Also, it is in Columbia, SC... not a humble brag.

What is nuts is that my mortgage is currently 1/2 of the monthly rent I pay for a 1 bedroom apartment in Northern California.
Click to expand...

Sounds like you got a deal in NorCal. :)
 
forensicdeac said:
lol. First time I got a humble brag. I only have 4 bedrooms but it is a different price point in my neighborhood. Also, it is in Columbia, SC... not a humble brag.

What is nuts is that my mortgage is currently 1/2 of the monthly rent I pay for a 1 bedroom apartment in Northern California.
Click to expand...

Where are you in NorCal? Bay Area or Sac?
 
forensicdeac said:
Santa Rosa in Sonoma County. Moved out here in October and hopefully my family will finally join me in May. That's the silver lining of schools closing. My kids can do their work anywhere.
Click to expand...

Will you be able to move your stuff?

You, your wife and kids in a one bedroom. That should be fun. :)
 
You must log in or register to reply here.
Back
Top