The economy is not healthy AT ALL
Adam MaciasPro Member
Real Estate Consultant · Fort Collins, CO · Member since 2022 · 295 posts · 179 votesThe economy is not healthy AT ALL
Most Popular Reply
Rental Property Investor · New Braunfels, TX · Member since 2021 · 291 posts · 257 votes
1yQuote from @Adam Macias:
The economy is not healthy ya'll.
House prices are coming down.
Look at Texas and Florida, two years everyone though these states would have infinite growth.
What has happened?
Florida is down almost 15% and Texas is following the same path.
I bring this up because at a recent meetup some investors
were telling me they are willing to pay full price to beat the competition.
That's an insanely bad move right now unless you're willing to come out of pocket to cover expenses to try to keep those houses afloat.
Stop speculation for the love of the real estate gods STOP.
The only time you lose money in a real estate crash is when you sell in bad timing...
BUT you must remember that deals are only deals depending on how they were BOUGHT, not how they were SOLD.
Heck, even in Denver the smartest investors I know are buying at even deeper discounts because they know DOM are going to be longer than expected.
Get better at sales, get better at marketing, don't be romantic on any one market and we will survive.
15 Replies
- Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes1y
Quote from @Adam Macias:
The economy is not healthy ya'll.
House prices are coming down.
Look at Texas and Florida, two years everyone though these states would have infinite growth.
What has happened?
Florida is down almost 15% and Texas is following the same path.
I bring this up because at a recent meetup some investors
were telling me they are willing to pay full price to beat the competition.
That's an insanely bad move right now unless you're willing to come out of pocket to cover expenses to try to keep those houses afloat.
Stop speculation for the love of the real estate gods STOP.
The only time you lose money in a real estate crash is when you sell in bad timing...
BUT you must remember that deals are only deals depending on how they were BOUGHT, not how they were SOLD.
Heck, even in Denver the smartest investors I know are buying at even deeper discounts because they know DOM are going to be longer than expected.
Get better at sales, get better at marketing, don't be romantic on any one market and we will survive.Home pricing in many areas are starting to soften and investors especially are losing properties left and right because they overpaid and over-leveraged them.
7e investments53 Reviews- MD/DC · Member since 2024 · 1k+ posts · 1k+ votes1y
Quote from @Chris Seveney:
Agree. After investing in RE and the stock market for 30 years this is how I expect things to go. When the masses arrive who don't understand business and are operating on greed or FOMO the supply and demand gets disrupted. While I wish I was it wasn't so in my experience there is no easy money or free lunch.
- Rental Property Investor · New Braunfels, TX · Member since 2021 · 291 posts · 257 votes1yAnyone that says Texas isn’t growing doesn’t live here. Things haven’t stopped growing since I moved here in 1982. I’ll agree some house prices are going down a little but that’s only because of all the new apartments and houses being built.
Quote from @Adam Macias:
The economy is not healthy ya'll.
House prices are coming down.
Look at Texas and Florida, two years everyone though these states would have infinite growth.
What has happened?
Florida is down almost 15% and Texas is following the same path.
I bring this up because at a recent meetup some investors
were telling me they are willing to pay full price to beat the competition.
That's an insanely bad move right now unless you're willing to come out of pocket to cover expenses to try to keep those houses afloat.
Stop speculation for the love of the real estate gods STOP.
The only time you lose money in a real estate crash is when you sell in bad timing...
BUT you must remember that deals are only deals depending on how they were BOUGHT, not how they were SOLD.
Heck, even in Denver the smartest investors I know are buying at even deeper discounts because they know DOM are going to be longer than expected.
Get better at sales, get better at marketing, don't be romantic on any one market and we will survive.- Rental Property Investor · Somewhere over the Rainbow · Member since 2021 · 1k+ posts · 1k+ votes1y
Quote from @Mike Kirby:
Anyone that says Texas isn’t growing doesn’t live here. Things haven’t stopped growing since I moved here in 1982. I’ll agree some house prices are going down a little but that’s only because of all the new apartments and houses being built.Quote from @Adam Macias:
The economy is not healthy ya'll.
House prices are coming down.
Look at Texas and Florida, two years everyone though these states would have infinite growth.
What has happened?
Florida is down almost 15% and Texas is following the same path.
I bring this up because at a recent meetup some investors
were telling me they are willing to pay full price to beat the competition.
That's an insanely bad move right now unless you're willing to come out of pocket to cover expenses to try to keep those houses afloat.
Stop speculation for the love of the real estate gods STOP.
The only time you lose money in a real estate crash is when you sell in bad timing...
BUT you must remember that deals are only deals depending on how they were BOUGHT, not how they were SOLD.
Heck, even in Denver the smartest investors I know are buying at even deeper discounts because they know DOM are going to be longer than expected.
Get better at sales, get better at marketing, don't be romantic on any one market and we will survive.Northwest Houston - cypress, magnolia, waller, tomball etc is exploding. Tons of big development. Even the price of some of these lots have doubled in the last 4-5 years. It does seem houses on the market are taking longer to sell, but I haven't noticed a decrease in new development. This is just my personal opinion/anecdotal evidence of that one submarket
- Lender · Arvada, CO · Member since 2018 · 5 posts · 1 vote1y
Quote from @Mike Kirby:
Anyone that says Texas isn’t growing doesn’t live here. Things haven’t stopped growing since I moved here in 1982. I’ll agree some house prices are going down a little but that’s only because of all the new apartments and houses being built.Quote from @Adam Macias:
The economy is not healthy ya'll.
House prices are coming down.
Look at Texas and Florida, two years everyone though these states would have infinite growth.
What has happened?
Florida is down almost 15% and Texas is following the same path.
I bring this up because at a recent meetup some investors
were telling me they are willing to pay full price to beat the competition.
That's an insanely bad move right now unless you're willing to come out of pocket to cover expenses to try to keep those houses afloat.
Stop speculation for the love of the real estate gods STOP.
The only time you lose money in a real estate crash is when you sell in bad timing...
BUT you must remember that deals are only deals depending on how they were BOUGHT, not how they were SOLD.
Heck, even in Denver the smartest investors I know are buying at even deeper discounts because they know DOM are going to be longer than expected.
Get better at sales, get better at marketing, don't be romantic on any one market and we will survive.I agree! I feel like there was a slight decrease in Austin after the surges in 2020, but the rest of Texas is still growing like crazy. I have family in the Dallas area and most houses are off the market within a couple of days of being listed.
- 1yJordan MoorheadBusiness MemberReal Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
Quote from @Laurel DeSilvey:
Quote from @Mike Kirby:
Anyone that says Texas isn’t growing doesn’t live here. Things haven’t stopped growing since I moved here in 1982. I’ll agree some house prices are going down a little but that’s only because of all the new apartments and houses being built.Quote from @Adam Macias:
The economy is not healthy ya'll.
House prices are coming down.
Look at Texas and Florida, two years everyone though these states would have infinite growth.
What has happened?
Florida is down almost 15% and Texas is following the same path.
I bring this up because at a recent meetup some investors
were telling me they are willing to pay full price to beat the competition.
That's an insanely bad move right now unless you're willing to come out of pocket to cover expenses to try to keep those houses afloat.
Stop speculation for the love of the real estate gods STOP.
The only time you lose money in a real estate crash is when you sell in bad timing...
BUT you must remember that deals are only deals depending on how they were BOUGHT, not how they were SOLD.
Heck, even in Denver the smartest investors I know are buying at even deeper discounts because they know DOM are going to be longer than expected.
Get better at sales, get better at marketing, don't be romantic on any one market and we will survive.I agree! I feel like there was a slight decrease in Austin after the surges in 2020, but the rest of Texas is still growing like crazy. I have family in the Dallas area and most houses are off the market within a couple of days of being listed.
Austin is getting crushed and so are a lot of parts of DFW. We're down 30%+ in lots of areas of Austin from the peak.
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- 1yRob HowardPro MemberKnoxville TN, USA · Member since 2023 · 63 posts · 42 votes
Even in Tennessee - where "everybody's moving" sales of $400k and lower homes are down ~20% while homes $999k+ are up 30%+. Know your market and when the "blood is running in the streets" be ready to buy!
- 1yJames PolkPro MemberRental Property Investor · Houston, TX · Member since 2018 · 48 posts · 30 votes
Adam, you might want to turn off the news. They only sell fear...
-Click here if you want to know how the housing market is going to fall.
-Up next 5 signs you need to change your real estate investing market.Texas and Houston continue to grow. I'm more concerned that the Houston Market will look like Denver prices.
Florida has some specific regional issues...lots of coastal counties. I'm sure I could find stable DOM counties that will turn green when rates go down.
- Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes1y
I think there are a few issues. Consumer confidence is one. I feel like in Dallas-Fort Worth area the economy is fairly strong and well diversified. We are seeing some softness in the market, some overpriced homes coming down. We also see sellers unwilling to drop prices much. We may see some slight adjustments I think, but I don't see 10-15-20% drop.
- Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes1y
Florida and Texas have been able to keep up with construction demand, which creates more inventory.
The reality is if you hold onto a property long enough you will likely be fine. I wish I bought the day before the crash in 2008. I would be almost done with my mortgage and home values have gone up higher since then. They are in better shape than people buying today.
I like what Dave Myers said in a past podcast, treat rentals like dollar cost averaging. Keep buying in both up and down markets and it will even itself out.
- 1yJordan MoorheadBusiness MemberReal Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
Quote from @Rick Albert:
Florida and Texas have been able to keep up with construction demand, which creates more inventory.
The reality is if you hold onto a property long enough you will likely be fine. I wish I bought the day before the crash in 2008. I would be almost done with my mortgage and home values have gone up higher since then. They are in better shape than people buying today.
I like what Dave Myers said in a past podcast, treat rentals like dollar cost averaging. Keep buying in both up and down markets and it will even itself out.
That's what I've always done and made sure to buy every year! Some of mine are underwater but I don't care because they cashflow and I don't want to sell those
The Moorhead Team5142 Reviews - Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes1y
Quote from @Jordan Moorhead:
Quote from @Rick Albert:
Florida and Texas have been able to keep up with construction demand, which creates more inventory.
The reality is if you hold onto a property long enough you will likely be fine. I wish I bought the day before the crash in 2008. I would be almost done with my mortgage and home values have gone up higher since then. They are in better shape than people buying today.
I like what Dave Myers said in a past podcast, treat rentals like dollar cost averaging. Keep buying in both up and down markets and it will even itself out.
That's what I've always done and made sure to buy every year! Some of mine are underwater but I don't care because they cashflow and I don't want to sell those
The reality is even if values go down, it is a paper loss and people still need a roof over their head.
- 1yJordan MoorheadBusiness MemberReal Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
@Rick Albert That's also the beauty of buy and hold cashflow positive real estate with good debt. You don't have to sell to make money!
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