Real Estate and foreclosure thread

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Absolutely not surprised.

There is no pride in product or craftsmanship, today. You see it in the sullen, surly service-help in what used to be good restaurants. You see it in the garbage food offered by fast-food outlets...McDonalds was bland, but beef is (or used to be) beef, and tasty. Fried potatoes, maybe not good in the quantities we started to eat them, at least were pleasant. Modern comfort food.

Not today, where everything is fake-and-gay. Tasteless, bland, dubiously outsourced product...and laden with additives.

Cars. Henry Ford showed us that cars could be manufactured cheaply, using economies of scale. Fiat/Stellantis (and Billy Ford) are showing us how those same huge operations can hide incredibly-shoddy engineering when management goes rogue. Stuff that goes beyond bad engineering - that is, almost criminally exploitative. Like oil pumps, driven by rubber belts, also immersed in oil W-T-F!

Home construction is another matter. Unlike commercial-structure building, which typically involves a steel-girder interior structure, home construction is by stick. The home I grew up in, which was four years old when my father bought it, was built by the guy next door - a builder with five employees, who purchased an abandoned apple orchard and developed it. It wasn't especially well done, but the homes all stand to this day. Four basic blueprints, 150 homes.

These mega-builders are another matter. Borrowed money, weekly Zoom conferences, schedules, limits on wages, heavy hands used on underlings, hatred percolating up...anywhere you can shortcut. The skilled framers and drywall hangers won't work for their wages, but Mohammed and Fariq will. Galvanized nails cost too much. So does inspection of Mohammed's work...he did okay his first day, so just let him go to it.

We ain't got time for more checks. We're too busy getting zonings changed, so we can shrink the size of new lots for Tiny Homes. ONLY $399,000!

This is what comes of it. It's not that business is bad or that corporate structure is bad. What is bad is a complete moral nihilism within the nation's business (and political) leaders, leading to corporate behavior like this. And TOLERANCE, by government, of behavior like this.
 

Many of Philadelphia’s office buildings are plummeting in value — and it’s costing the city millions​

If you’re in the market for an office building in Philadelphia, now’s the time to buy.

Several Center City office buildings have sold in recent months for well under half their previous prices and assessed values, attracting residential developers and out-of-market investors.

The 29-story, 665,000-square-foot tower at 2000 Market St. last sold in 2018 for $107.7 million. In August, it went for $45.5 million to Maryland-based Tide Realty Capital and New York’s CSB Holdings, which plan to retain it as an office building.

Read the rest:

https://www.msn.com/en-us/money/rea...he-city-millions/ar-AA1N7O0f?ocid=socialshare
 
This one is a bit different . It's strictly for entertainment.

When the Listing Appointment Ends With a Tour of an Underground Y2K Bunker​

Q: Have you ever encountered a secret room or bunker in a house you’ve listed or sold?​

Renee Roberts, managing principal/broker, William Raveis Real Estate, Canton, Mass.​

In September 2018, I met with the owner of a five-bedroom contemporary Cape-style home in Canton, about a half-hour south of Boston, that had a lot of desirable features. It had a 1-acre private lot, a grand foyer, a large eat-in kitchen with a wood stove and high-end appliances.

The owner, an older gentleman, had called me to come view his home and to provide him with a market analysis. I didn’t know him—it wasn’t a referral.

As we were touring the house, everything was proceeding normally until we got to the basement, where I learned that the house had two hidden, soundproof concrete bunkers. The owner had custom-built the house in 1991 and included the bunkers due to his fear of Y2K.

More:

https://www.msn.com/en-us/money/rea...round-y2k-bunker/ar-AA1L4SE6?ocid=socialshare
 
^
More

Batman’s Office and Secret Bathrooms—These Real-Estate Agents Have Seen It All​

What is the most unusual design feature you’ve ever encountered in a home you listed or showed?​

Andrew Klima, real-estate agent, Howard Hanna Real Estate Services in Seven Fields, Pa.​

I recently listed Castle Bristlecone, a 23,500-square-foot property in Gibsonia, Pa., about a half-hour north of Pittsburgh, which sold in June for $3.8 million. It was definitely the most unusual home I’ve ever listed or shown.

There was a replica of Batman’s office, from the television show, not the movies. On the desk was the iconic red bat phone and a bust of Shakespeare. When you tilted Shakespeare’s head back, a bookcase slid open, and two poles appeared. There were poles for both Batman and Robin, and if you slid down them, you reached the Batcave below, which was actually the basement of the house.

More:

https://www.msn.com/en-us/money/rea...have-seen-it-all/ar-AA1IWs7B?ocid=socialshare
 

Massachusetts Landlord Learns The ‘Wrong Way’ To Evict In Florida​

When it comes to evictions in Florida, there's a legal process – and then there's whatever 61-year-old Dion Robbins of Pittsfield, Massachusetts, attempted in the early hours of Thursday morning.

Robbins traveled all the way from Massachusetts, intending to take eviction matters into his own hands at a property he owns in Lake Wales. Instead of serving legal papers, he allegedly ended up serving himself with a trip to the Polk County Jail.

The bizarre incident unfolded at approximately 2:18 am when Polk County Sheriff's Office (PCSO) deputies were dispatched to a residence regarding a burglary in progress. Upon arrival, deputies heard yelling and went behind the home, where they found Mr. Robbins engaged in an altercation with a resident through a window.

More:

https://www.msn.com/en-us/news/crim...evict-in-florida/ar-AA1O9Rwq?ocid=socialshare
 
^^^^

Probably got jailed just on principle. For being from Taxachussets.

And I'd support that. Stay ovah theah...and fah frum heah.
 
England

Renters' Rights Bill has become law: Here's what it means for you​

Described as the biggest shake-up to renting in England for more than 30 years, a new law to give renters more rights was formally approved on Monday.

In the coming weeks, the government will announce how - and when - each of the changes will come into force.

With almost 20% of UK households renting privately, the changes will affect millions of people.

More:

https://www.msn.com/en-us/news/worl...it-means-for-you/ar-AA1PhUtL?ocid=socialshare
 
What happens will be what always happens when a structure or domicile is in an uninsurable-risk environment.

No one will underwrite it. Ergo, no one can buy it with a mortgage or encumbrance.

This is nothing new - there are structures that cannot be insured. For the condition of the structure, or the situation of the land. My onetime home was owner-built, a succession of additions by subsequent owners; and before I closed, I was declined by two insurance companies before one did issue a policy. This in spite of inspected wiring and that the home dated to 1940.

The idea of building homes, particularly wooden structures, under the forest canopy in inflammable Western arid forest land, was once unthinkable. FOR the insurance risk. Building a home out in dry grassland, required a lot of fire-mitigation work, including fire breaks.

There is no right to have a home, any home, built in any sort of high-risk environment, to be insured - if not by private agencies, then by (of course!) GOOBERMINT.
 

Land: the Original Bitcoin​

Nov 7, 2025 The Financial History Files
Before Bitcoin, before gold, before banks — there was land. The first currency. The first collateral. The only thing that ever truly held its value.
This episode of The Financial Historian uncovers the oldest story in economics — how land became humanity’s original store of value, the foundation of every empire, and the invisible force still controlling global wealth today. From ancient Egypt to blockchain miners, from feudal lords to modern landlords, the game never really changed — only the technology did.
Land was the first Bitcoin: scarce, finite, impossible to print. Every new financial system — gold, fiat, crypto — has been an attempt to recreate its power. But in the end, all wealth flows back to the same ground.
This film reveals how land quietly became the world’s real reserve currency — and why no matter how digital our age becomes, those who own it will always rule those who don’t.
Key Facts & Insights
• Land was the world’s first scarce asset — finite, yield-generating, and unforgeable.
• In ancient and feudal societies, ownership of land defined status, credit, and survival
• The Industrial Revolution and modern banking were financed through land collateral.
• Global real estate today exceeds $380 trillion, more than all stocks and bonds combined.
• The top 10% of humanity controls over 85% of global land value.
• Every economic system — from gold to Bitcoin — replicates the logic of land-based scarcity.
• Modern real estate functions as the world’s true reserve currency, anchoring debt and credit.
• Even digital wealth ultimately flows back into physical property and control of space.

Land: the Original Bitcoin
11:41
 
The only benefit of a 50 year mortgage is A.) the Banks





E.) home owners get a slight boost to values. Of course that means more taxes, etc.
 
E.) home owners get a slight boost to values. Of course that means more taxes, etc.
...making them moar costly to BUY. Pricing rational buyers out of the market.

This generalized increase in sales-potential-price, will be reflected even in multifamily structures. We all pay.

Globalism wins.
 
Sure, benefits the older/richer crowd of course. But it really isn't much difference. Just more signs the economy is in real trouble.
 
A 50 is good for certain sitiations, but take my word for it nobody is going to ride one for 50 years. It's slightly better than a variable rate because it avoids rate adjustment shock.
 
Just saw another example of how bad Commercial Real Estate is. Just down the street from my office and the county office building was the largest bank in town. Bought up by US Bank maybe 15 years ago. They closed the main branch, leaving only a small drive through.

It was for sale for well over a year. Assessed value was $1.232 million. They had been paying taxes of $40,196 / year. Looks like it finally sold and it was the County government that ended up buying the building. They paid $250,000. And they won't be paying Any property taxes of course. Not the worst loss because the numbers are small in a small town but there was obviously no demand.
 

Could Crypto-Backed Mortgages Put The U.S. Housing Market At Risk?​

Nov 10, 2025 #CNBC
Buying a home can be expensive. Until now, the roughly 15% of Americans who invest in digital assets haven’t been able to include crypto when applying for a mortgage, but that could soon change. A June directive issued by the Federal Housing Finance Agency ordered mortgage giants Fannie Mae and Freddie Mac to develop proposals to consider crypto as an asset in single-family home risk assessments. CNBC explores the pros and cons of this directive and what will change if it is enacted.


11:48

Chapters:
0:00 Introduction
2:20 Chapter 1: FHFA's crypto proposal
6:43 Chapter 2: Housing market risks
9:36: Chapter 3: Will it become law?
 
WTH, after thinking about that it doesn't even make sense? What the hell is a "Crypto" backed mortgage? A loan against a house is called a mortgage. A loan against crypto is just some loan against some digital asset.
 
WTH, after thinking about that it doesn't even make sense? What the hell is a "Crypto" backed mortgage? A loan against a house is called a mortgage. A loan against crypto is just some loan against some digital asset.
So, once foreclosed on, they can sell the property to connected Private Equity or REITs...for pennies on the dollar; and then electronically liberate the victim of his code-tokens, too.

This is BS. We're getting into a situation as fearful as Medieval Debtors' Prisons in the past.
 
I mean they can do that anyway. There is absolutely NOTHING that bitcoin is doing...? :eek:
Maybe it's to make it easier.

The Grate Taking being set up.

And remember...thieves don't like effort, and don't enjoy justifying their behaviors in front of a judge. Even a corrupt judge.
 
 
Sorry old news... But you can be assured that Rental demand for those prosperities is now awful and they are just/even more likely to be losing money now.
 

50 Year Loans & NO CREDIT SCORE - What This Means For Home Prices!​

Nov 14, 2025
The Trump administration recently announced the idea of potentially having a 50 year mortgage, which is one of the worst ideas ever to hit the real estate conversation. And I'm gonna show you why. It's not just my opinion, but the math just doesn't work.


25:19

00:00 Why The 50 Year Mortgage is HORRIBLE IDEA
13:11 Fannie Mae Will Make it Easier For People to Buy Houses that Can't Afford Them
16:06 Adjustable Rate Mortgages Continue Their Upward Trend
20:15 Should Foreigners Be Allowed To Buy US Real Estate?
23:25 Major Canadian Real Estate Trouble

Articles Mentioned in the Video
- https://www.floridarealtors.org/news-...
- https://fortune.com/2025/11/09/housin...
- https://www.floridarealtors.org/news-...
 
Anyone want to comment on the above video? I don't want to listen to yapping, but maybe the guy had a half minute of wisdom buried in his video.
 
Anyone want to comment on the above video? I don't want to listen to yapping, but maybe the guy had a half minute of wisdom buried in his video.
what he says in the video is in my opinion correct..........but..........as my grandpappy used to say if bullfrogs had wings they wouldnt bump their asses when they jumped.....point is there is a lot of wings needed for his scenario's to happen.......

#1 assumable loans.....i cant see how the existing lenders that are carrying those very low loans would just make them assumable as they have nothing to gain i could see them offering a option to make your loan assumeable for added points but they will just add the points up front to cover their spread,

#2 locked in property taxes for Primary residences ....thats a no brainer for the government and is past due ....will it happen? how will gov cover lost funds if it does.....

#3 he didnt mention insurance costs or unavailibility at all (the elephant in the corner)

but its all feasible and makes for good revenue producing video content

as a personal note ~3% loans were a anomaly.....and thats why savers and producers couldnt get decent returns on monies for years ....... 5-6% mortgages is more sustainable for all involved

as a side note i bought my first house at the peak of mortgage rates 15% in i think it was 1980 .....i bought it by assuming a VA backed loan of 8% ....but i had to come up with a lot of down payment and fees to cover the equity etc .....so assumeables do work but this was a VA loan with government backing etc
 
Anyone want to comment on the above video? I don't want to listen to yapping, but maybe the guy had a half minute of wisdom buried in his video.
The 50-year note is just to increase the potential-buyer pool; and thus, prop up prices as they are, for awhile longer.

As has been discussed to death, it makes no sense in reality - hundreds of thousands in increased interest cost, to drop payments a few hundred dollars. There will be no equity for the first twenty years or so. Upside down when life changes (midlife, etc) and you need to sell a home with a loan on it?

The whole idea is asinine; and obviously - just from how it's presented - it's to keep us slaves to the Good Grey Bank, for all our lives.

Michael...I do sometimes listen to him (don't watch) but he is a bit noisy, and IMHO he has less insight than most other commentators. Which makes sense - he has had no economics training or study. He's sold real estate since he was just old enough to get his license; and now he doesn't even do that. He's made good; wonderful; but I don't see much insight there.

He's not wrong; he's just annoyingly obvious. Most of the time.
 
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