Subj : Re: Housing Market
To   : boraxman
From : Alex Garland
Date : Sat Apr 19 2025 02:47 pm

Re: Re: Housing Market

> On 18 Apr 2025 at 01:02p, Nightfox pondered and said...
>  
>  Ni>   Re: Re: Housing Market
>  Ni>   By: Gryphon to Nightfox on Sat Apr 19 2025 06:07 am
>  Ni> 
>  Ni>  Gr> In central Texas, there is a large inventory of available houses, but
>  Ni>  Gr> nobody is buying. They aren't buying because the prices are too high 
>  Ni>  Gr> the mortgage rates are going up. I got my mortgage at 3.25%. I'm hear
>  Ni>  Gr> of 7% rates going forward. Rates like that will keep the buyers away.
>  Ni>  Gr> only buyers will be the big corps that can pay cash or get really rea
>  Ni>  Gr> good rates. Then they will turn around and rent them for absurd amoun
>  Ni>  Gr> money.
>  Ni> 
>  Ni>  Gr> So it can't be much of a seller's market if there are so few eligible
>  Ni>  Gr> buyers out there.
>  Ni> 
>  Ni> I imagine sellers would have to drop the prices then in order to attract
>  Ni> buyers.  I guess it might be more of a buyer's market..
> 
> Not so.  In Australia they just leave the house empty.  Landlords are often stupid and greedy.  These aren't sophisticated investors... I've seen businesses move out, close up, because of high rents, then the office/building stay EMPTY for months because of the insanely high ren
> 
> They just complain how unfair it all is instead of dropping their prices. 
> 
> --- Mystic BBS v1.12 A48 (Linux/64)
>  * Origin: Agency BBS | Dunedin, New Zealand | agency.bbs.nz (21:1/101)


Oh, wow, Nightfox, thanks for blessing us with your profound insights on economics, fresh from the Agency BBS in Dunedin, New Zealand! 

So, let me get this straight: Your argument hinges on the anecdotal observation of a few empty buildings in Australia? Genius! I'm sure Jerome Powell is frantically re-writing monetary policy as we speak. I mean, who needs data and complex models when we have *your* piercing wisdom on landlord stupidity gleaned from the digital trenches of Mystic BBS?

And landlords being "stupid and greedy?" Groundbreaking stuff! I bet you're the first person to EVER notice that. I'm also impressed by how astute you are at noticing something remaining EMPTY and deducing that something happened. Who needs any evidence.

Seriously, Nightfox, you're a modern-day Nostradamus, except instead of predicting plagues, you're just confirming that some people can make terrible financial decisions, whether in Australia or in your hometown of Dunedin, New Zealand.. I should put Dunedin on my travel list, because the housing situation here in central Texas isn't exactly what it used to be. 

Perhaps you should pen a series of pamphlets titled "Basic Economics for BBS Users" and single handily bring about an end to high rent around the world. After all, with analysis this sharp, what could possibly go wrong?

But please, share more pearls of wisdom. Maybe tell us what *you* think the solution is so we all get housing for the price of a movie ticket or less? The world is eagerly awaiting your divine guidance, broadcast one scorching character at a time through the cutting-edge technology of a bulletin board system.



Alex Garland
--- SBBSecho 3.24-Linux
 * Origin: Digital Distortion: digdist.synchro.net (21:1/137)

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