Panic Selling is Here big time......

[Captain Ahab Jr]

If it isn't yet it will soon be a real fact of life for many

Houses, cars and toys all on loans that can't be paid when people loose a few months of income or worse when they loose their jobs

[fastfredracing]

I hate to be a vulture, but we have been looking for another rental house. Now may be a good time to grab a few of them .
On the other hand, I am scared for the future of that biz .

[onewhippedpuppy]

I’d take a good deal on a 5th wheel toy hauler and an air cooled 911 please.

[tabs]

Trading on someone elses misery are we...morally bk.

[aigel]

I don't think any of us will avoid losing wealth in this ordeal. Maybe we won't be selling but are we really going to be buying? Holding too much cash is scary even, stocks are shot and even rental income requires a tenant with a job.

As far as "vulture" buying, I don't have a problem with that. People will need to get out of some of their assets and will be glad if there is still a market even at reduced value.

G

[sammyg2]

So, some people are over-extended and too far in debt because of their own irresponsibility.
Sux to be them.

Like my daddy always said, don't spend money you don't have.

[Sooner or later]

Originally Posted by tabs

Trading on someone elses misery are we...morally bk.

If those folks can't sell they will probably be worse off than if they sell to get out of debt they can't service.

Are you suggesting no one buy so the people get nothing when it might get repossessed?

[stevej37]

I have a few pairs of Dragon-azz jeans. Anybody interested?

[GH85Carrera]

Originally Posted by tabs

Trading on someone elses misery are we...morally bk.

How about just trading on the stupid of idiots.

Life is hard, it is even harder when you are stupid and chose to party and spend, not study and save.

[onewhippedpuppy]

Originally Posted by tabs

Trading on someone elses misery are we...morally bk.

So says the man who trolls thrift stores looking for items sold for too little money by people who didn’t know what they had.

[Sooner or later]

Pawn shops bad.

[john70t]

Originally Posted by fastfredracing

I hate to be a vulture, but we have been looking for another rental house. Now may be a good time to grab a few of them .
On the other hand, I am scared for the future of that biz .

Every 7 years or so there has been an expected market downturn. mostly.
Don't worry. This too shall pass.
(Or destroy us all, regardless of where assets are placed.)

Now is not quite the time to buy RE.
Wait until the panic has everyone quivering in their boots and scattering to the four corners.
Just like a decade ago.

There is a lot of 'cash' floating around at the top levels.
It all has to go somewhere eventually.
"At the end of the game the pawn and the king end up in the same box."

[Arizona_928]

I'm in the market for new diesel gen. Have the funds, but am waiting

[dmcummins]

I’m looking for a 27’-30’ center console boat. Pursuit or Grady White, or similar. I can wait a few months, cash in hand.

Hopefully my real estate deals go thru next month, if not, I’m still looking for a boat.

[Jim Bremner]

If you had a rental house would you sell it today hoping that the market tanks in 6 months and buy something like it for 40% less?

my folks have a house that's. In the $650k range a week ago. If they sold it for say $600k. Do you think in six MO they could buy on the low $400k market?

[aigel]

Jim, not sure if anyone would be able to sell a house right now. Everything is getting locked down, how would a buyer even look at it!? And why would a buyer right now not just wait anyway, even rent and wait, if they were looking for a main residence.

G

[island911]

I'm thinking people are at home and getting a jump on some spring cleaning.

I know that I have a lot of Porsche stuff that I should put out there, but too busy working from home.

[sc_rufctr]

Originally Posted by sammyg2

So, some people are over-extended and too far in debt because of their own irresponsibility.
Sux to be them.

Like my daddy always said, don't spend money you don't have.

This is worth highlighting.

[911boost]

I have already put my kids to work on spring cleaning, closet cleaning, basement cleaning.....

[Bill Douglas]

Quite a few people have bought one or more houses in expensive areas to airbnb. Now that that has completely stopped they have mortgages they were only just managing with the airbnb money.

I believe these are being dumped at a loss.