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Winter is Coming

pawz
pawz Member, Moderator, Swaye's Wigwam Posts: 22,480 Founders Club
edited May 2022 in Tug Tavern
What I'm hearing.... The preforeclosure lists from Fannie & Freddie are 3x what they were in 2008.


* pucker *



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  • pawz
    pawz Member, Moderator, Swaye's Wigwam Posts: 22,480 Founders Club
    Sources said:

    pawz said:

    What I'm hearing.... The preforeclosure lists from Fannie & Freddie are 3x what they were in 2008.


    * pucker *



    I look forward to booting people out of my future houses
    Spoken like someone who will be buying from the steps.

    Amirite?


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  • HoustonHusky
    HoustonHusky Member Posts: 6,000
    Dumb question here...this public info and available by area? Have a friend moving back here and he’s debating buying vs renting for a bit...
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  • dirtysouwfdawg
    dirtysouwfdawg Member, Swaye's Wigwam Posts: 14,141 Swaye's Wigwam
    HoustonHusky said:

    Dumb question here...this public info and available by area? Have a friend moving back here and he’s debating buying vs renting for a bit...

    Contemplating selling now and renting as it’s only a matter of time before I find my next promotion and we move again...
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  • pawz
    pawz Member, Moderator, Swaye's Wigwam Posts: 22,480 Founders Club
    HoustonHusky said:

    Dumb question here...this public info and available by area? Have a friend moving back here and he’s debating buying vs renting for a bit...

    I'm sure the information is out there. I will do some more digging.

    My source is an appraiser who works directly w Fannie/Freddie. I heard about a sub-market in Seattle really being in trouble. I doubt it's the only one.
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  • DerekJohnson
    DerekJohnson Administrator, Swaye's Wigwam Posts: 68,543 Founders Club
    BleachedAnusDawg said:

    Who's in on forming the Aberdeen investment property club?

    This would be an epic HCH spoof

    I can imagine the t-shirts
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  • Kaepsknee
    Kaepsknee Member Posts: 14,913
    Prices will be down 5% YTY in December.

    Cook it.

    Overwhelming supply will glut the market.
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  • dirtysouwfdawg
    dirtysouwfdawg Member, Swaye's Wigwam Posts: 14,141 Swaye's Wigwam
    edited May 2021
    pawz said:

    HoustonHusky said:

    Dumb question here...this public info and available by area? Have a friend moving back here and he’s debating buying vs renting for a bit...

    I'm sure the information is out there. I will do some more digging.

    My source is an appraiser who works directly w Fannie/Freddie. I heard about a sub-market in Seattle really being in trouble. I doubt it's the only one.
    Can you spell this out for the dumbs... sub markets in trouble round Seattle as in costs going the other way or what?
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  • pawz
    pawz Member, Moderator, Swaye's Wigwam Posts: 22,480 Founders Club
    dirtysouwfdawg said:

    pawz said:

    HoustonHusky said:

    Dumb question here...this public info and available by area? Have a friend moving back here and he’s debating buying vs renting for a bit...

    I'm sure the information is out there. I will do some more digging.

    My source is an appraiser who works directly w Fannie/Freddie. I heard about a sub-market in Seattle really being in trouble. I doubt it's the only one.
    Can you spell this out for the dumbs... sub markets in trouble round Seattle as in costs going the other way or what?
    A sub-market might be any municipality (city) not-named Seattle.


    Think practically about the class of person that was sent home from work for over a year and told to fuck right off with any sort of income. Those are the ones who haven't been able to pay their rent and/or mortgage for over a year. Also the ones who would have needed to use Fannie & Freddie to purchase in the first place.

    What areas do they mostly live? Lynwood, Everett, Snohomish in the north; Kent, Seatac, Auburn in the South.

    Those are your 3x areas described in the OP

    Eventually these homes are going to be foreclosed on and flood the market.



    TTTTT - Who insures Fannie & Freddy's defaults?

    The Federal Government - aka US taxpayer. Ergo more inflation.

    We?re so fucked.


    I won't even get into the wealth-transfer conversation ...
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  • Sources
    Sources Member, Swaye's Wigwam Posts: 4,347 Founders Club
    pawz said:

    HoustonHusky said:

    Dumb question here...this public info and available by area? Have a friend moving back here and he’s debating buying vs renting for a bit...

    I'm sure the information is out there. I will do some more digging.

    My source is an appraiser who works directly w Fannie/Freddie. I heard about a sub-market in Seattle really being in trouble. I doubt it's the only one.
    As much as it pains me, I'm likely buying up north sometime in the next year - would also be interested if you can dig this up
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  • pawz
    pawz Member, Moderator, Swaye's Wigwam Posts: 22,480 Founders Club
    https://www.mpamag.com/news/index-forecasts-surge-in-evictions-and-foreclosures-249215.aspx
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