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Old 09-21-2023, 10:16 AM
 
15,799 posts, read 20,504,199 times
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Quote:
Originally Posted by msRB311 View Post
I dont know that layoffs were common but it had been a while since I'd seen any. .
We had a small one in April, but our numbers are sufficient now that we should be able to carry through without another. Confidence around the water cooler is pretty good.

I know of a few folks who got laid off back in the spring, but they found new jobs rather quickly.

I know my experience doesn't speak for others though. Just sharing one data point.
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Old 09-21-2023, 10:18 AM
 
16,407 posts, read 8,198,277 times
Reputation: 11397
I'll add that Im still in shock over how much prices went UP in the first place in just a few short years. I cannot believe what people will pay. So based on what people WILL pay I'm not sure why anyone thinks prices will go down by much.

It's similar to the grocery situation...prices went up on items...people continue to pay for them. Why would prices come down?
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Old 09-21-2023, 11:19 AM
 
Location: The ghetto
17,740 posts, read 9,192,519 times
Reputation: 13327
Quote:
Originally Posted by msRB311 View Post
I'll add that Im still in shock over how much prices went UP in the first place in just a few short years. I cannot believe what people will pay. So based on what people WILL pay I'm not sure why anyone thinks prices will go down by much.

It's similar to the grocery situation...prices went up on items...people continue to pay for them. Why would prices come down?
When the prices skyrocketed, the prices were viewed as super high. But they've been super high for quite a while and I think they're just viewed as normal now.

The old prices would be seen as super low now.

I think inflation prevents any significant drop in the future.
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Old 09-21-2023, 11:25 AM
 
Location: The ghetto
17,740 posts, read 9,192,519 times
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Quote:
Originally Posted by massnative71 View Post
Disagree. In 2008 I patiently waited for a market that favored the buyer, and watched neighbors who bought a year earlier at almost double what I did, stuck underwater for years and in some cases took like a good 7 or 8 years for their values to recover. Some of them probably got sucked onto the FOMO game, that's one where you almost always get screwed.
I don't see a repeat of the 2008 financial crisis...at least not in regards to real estate.
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Old 09-21-2023, 11:50 AM
 
15,799 posts, read 20,504,199 times
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Quote:
Originally Posted by msRB311 View Post
I'll add that Im still in shock over how much prices went UP in the first place in just a few short years.

It's across the board. I had to reorder some stuff on Amazon I purchased 2-3 years ago. Upon looking up my old orders, i was shocked to see how much i paid then, vs today. The price a few years ago almost seems like a great deal in hindsight.
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Old 09-21-2023, 04:54 PM
 
2,710 posts, read 1,733,872 times
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Quote:
Originally Posted by massnative71 View Post
Disagree. In 2008 I patiently waited for a market that favored the buyer, and watched neighbors who bought a year earlier at almost double what I did, stuck underwater for years and in some cases took like a good 7 or 8 years for their values to recover. Some of them probably got sucked onto the FOMO game, that's one where you almost always get screwed.



I agree to the second part of your post, but unless you absolutely have to most are better off renting right now.
2008 was a once in a lifetime event. A real estate crash like that isn't going to happen again in our lives.
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Old 09-21-2023, 05:15 PM
 
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Quote:
Originally Posted by matrix5k View Post
2008 was a once in a lifetime event. A real estate crash like that isn't going to happen again in our lives.
It was? There was also a crash in 1987...dotcom bubble crash 2000-2002, 2020 also caused financial crashes as well. All of those were in my lifetime and I was born in '78. All of those crashes have an affect on real estate.
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Old 09-21-2023, 06:08 PM
 
Location: The ghetto
17,740 posts, read 9,192,519 times
Reputation: 13327
Quote:
Originally Posted by matrix5k View Post
2008 was a once in a lifetime event. A real estate crash like that isn't going to happen again in our lives.
Quote:
Originally Posted by msRB311 View Post
It was? There was also a crash in 1987...dotcom bubble crash 2000-2002, 2020 also caused financial crashes as well. All of those were in my lifetime and I was born in '78. All of those crashes have an affect on real estate.
2008 was different. The 2008 financial crisis was because of real estate.
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Old 09-21-2023, 08:35 PM
 
2,710 posts, read 1,733,872 times
Reputation: 1319
Quote:
Originally Posted by msRB311 View Post
It was? There was also a crash in 1987...dotcom bubble crash 2000-2002, 2020 also caused financial crashes as well. All of those were in my lifetime and I was born in '78. All of those crashes have an affect on real estate.
In both real and nominal terms, home price growth sank to their lowest levels in 2008. Nothing comes close.

https://www.visualcapitalist.com/cha...over-50-years/
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Old 09-21-2023, 08:41 PM
 
2,710 posts, read 1,733,872 times
Reputation: 1319
Quote:
Originally Posted by BostonMike7 View Post
It's across the board. I had to reorder some stuff on Amazon I purchased 2-3 years ago. Upon looking up my old orders, i was shocked to see how much i paid then, vs today. The price a few years ago almost seems like a great deal in hindsight.
Yep I bought a 12 pack of Vita Coco for $9.82 in June 2020. Now it costs $16.98.
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