Real Estate and foreclosure thread

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more.

Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

Powell raises rates and we will watch one hell of a collapse.
 
searcher said:
Update

Real estate agents from major brokerages arranged questionable property deals around Temple University​

More than two dozen Philadelphia-area real estate professionals helped arrange $45 million worth of questionable deals around Temple University in which student rentals that had sat on the market for months abruptly sold for about double their asking prices, an Inquirer investigation has found.

In 52 settled or still-pending sales over roughly the last year, apartment buildings were listed for sale at an average price of $450,000, but found no takers. Within days of being re-listed for a higher price, the same properties sold for as much as $905,000 — at least on paper — to buyers who took mortgages that far exceeded the original asking price.

More:

https://www.msn.com/en-us/money/rea...emple-university/ar-AA1Vnj6Z?ocid=socialshare
Click to expand...

2nd update

Mounting foreclosures around Temple U spotlight questionable real estate deals​

A potential wave of foreclosures has begun near Temple University after some buyers who paid tens of millions of dollars in inflated real estate deals — at least on paper — stopped making mortgage payments.

Students and other renters in those properties could be caught in the fallout amid growing concerns of a possible mortgage-fraud scheme involving dozens of buildings in North Philadelphia.

The foreclosures, now moving through Philadelphia’s Court of Common Pleas, include two buildings on the 1800 block of North 18th Street, as well as properties on Willington Street and North Park Avenue, encompassing at least 11 apartments and 33 bedrooms.

More:

https://www.msn.com/en-us/money/rea...eal-estate-deals/ar-AA204jLU?ocid=socialshare
 
  • Home buyers in the first quarter were more concerned about the economy and mortgage rates than they were about home prices, according to the CNBC Housing Market Survey.
  • The average rate on the 30-year fixed mortgage hit a low of 5.99% the day before the Iran war started and is now hovering around 6.5%.
  • Affordability is not improving as much as most experts had forecast, which means buyer demand is dropping and homes are sitting on the market longer.
www.cnbc.com

Iran war upends spring housing market. Here's what real estate agents are seeing

Home buyers in the first quarter were more concerned about the economy and mortgage rates than they were about home prices, CNBC's Housing Market Survey found.
www.cnbc.com www.cnbc.com
 

To afford a four-bedroom house in West Chester, they moved in with their parents | How I bought this house​

The buyers: Chris Payne, 35, marketing director; Tessie Payne, 35, physical therapist

The house: A 2,185-square-foot colonial house in West Chester with four bedrooms and three baths built in 1986.

The price: Listed for $749,900; sold for $781,000.

The agent: Alison Simon, Keller Williams

The ask: Chris and Tessie Payne’s Manayunk rowhouse was the perfect starter home. It had a backyard for the dog. It was close to Main Street. But at 1,200 square feet, with only one bedroom and one bathroom, it was cramped. “We were always on top of each other,” Chris said. The couple wanted more space, so they put their home on the market and began searching for a bigger home in fall 2024.

More:

https://www.msn.com/en-us/money/rea...ought-this-house/ar-AA20IgOi?ocid=socialshare
 
Voodoo said:
More details on just how bad Commercial Real Estate has been.

Downtown Baltimore CRE Crash Signals Deeper Fiscal Crisis Ahead<!-- --> | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com

4,085 out of 14,027 - saw their assessed values slashed on average by 28.7%.
Click to expand...
"A localized commercial real estate crash has been spreading through downtown Baltimore City's office market like cancer, with more than $1 billion in property value erased since 2020. The rapid decline of the commercial tax base in the downtown area is colliding with deep structural crises, including violent crime"

"While remote work is only part of the story, traders, wealth managers, and back-office staff at major financial institutions in the city are all saying the same thing: Baltimore's crime problem has become intolerable and is bad for business."

I can't imagine it is even worse. It has been bad for last couple of decades.
 
Here is a large Commercial Real Estate Fund that is Now Gating investors as well.

Sternlicht's Starwood Real Estate Fund Gates Redemptions<!-- --> | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com

" amid mounting pressure on its bet that the commercial real estate markets would quickly recover from interest rate rises in 2022 and 2023"

Highly paid idiots should have read PMBug thread. We could have set them straight.
 
Professional tenants | Inside look at NBC10 Boston's investigation into ‘tenant from hell'

May 1, 2026
NBC10 Boston investigative reporter Ryan Kath joins Just Curious with JC to share behind-the-scenes stories on his reporting process while investigating professional tenants in Massachusetts — including his recent story that has gotten the attention of tens of thousands.


22:17
 

23 Things You Only Find Out AFTER You Buy The House​

May 9, 2026
Michael Bordenaro explores the often-overlooked realities of homeownership in Florida, ranging from hidden property maintenance tasks to regulatory challenges. This walkthrough highlights unexpected responsibilities that emerge after purchasing a residence, providing essential context for prospective buyers navigating the current housing market.


25:57
 

Philadelphia judges order Sheriff Rochelle Bilal to fix deed problem — or they’ll appoint someone who will​

Philadelphia judges are threatening to appoint a “special master” to oversee sheriff sales in the city if Sheriff Rochelle Bilal does not resolve ongoing delays in processing deeds of properties won at auction.

A court order filed Wednesday requires Bilal to submit a detailed accounting of every sheriff sale since she took office in January 2020, as well as a plan for “promptly” handling post-sale payments and delivering deeds to the winning bidders.

More:

https://www.msn.com/en-us/news/crim...someone-who-will/ar-AA23botM?ocid=socialshare
 

State Fights to Keep Surplus from Tax Foreclosures​

May 17, 2026
A class action has been filed in Ohio over the surpluses from tax foreclosure auctions.


10:44


www.wcpo.com

A $620 property tax debt cost him his house. Ohio’s Supreme Court will decide if the county owes him

The ex-homeowners aren’t challenging the foreclosures themselves. Rather, they say the county won title to houses that are worth more than the tax debts, but they aren't being compensated.
www.wcpo.com www.wcpo.com
 
searcher said:
reason.com

Samurai vs. squatters: On the street with the hired swords reclaiming California property owners' stolen homes

California has failed to protect private property from squatters. Desperate owners are turning to katana-wielding enforcers to reclaim their homes.
reason.com reason.com
Click to expand...
I always figured, if it happened to me - and it could have, I was looking to rent vacant property in Ohio during the GFC - if it happened, I'd just go in with an axe, or mattock or maul with a wedge (for splitting logs)

Go in with a firearm - get compliance. THEN off with their heads - with the axe or whatever.

EDIT: Called a splitting maul. I'd used it but never knew what it was called. A true EOTWAWKI tool.

500px-Maul-1.jpg
 
Last edited:
Eventually these dynamics shift.

With DeSantis out, and with a whole phalanx of RINOs (including the Jeb-Shrub retreads) waiting in the wings...AND with the Left now feasting on their newest power base, real-estate taxation and HOAs (an unconstitutional, unelected stealth-government structure) the allure of Florida is rapidly dissipating.

I never fully understood it. Yeah, it's great in the winter. And beaches are nice, particularly when they're decorated with bikinis during Spring Break.

Balance that. The ground is unstable, with sinkholes manifesting from time to time. That's nothing new; I remember a summer resident (former resident, retired high-school phys-ed teacher) talking to us kids over coffee on the back patio of the pro shop, about the emergence of sinkholes. George blamed all the new housing draining the aquifers. It hasn't gotten better - now Florida has mega-apartment high-rises.

Then, the weather. Sunshine in February, is nice. Trying to evacuate as a hurricane is bearing down, with a carload of valuables, kids, cranky wife, and two dogs...and HOPING to find a motel that will take all of you...that ain't fun. Nor is the cleanup later.

Nor the cancellation or the legal-gymnastics the "insurance" companies now use to only partially pay, or refuse to pay.

Even the bikinis. Now it's not blonde coeds, mostly. It's female hood rats, shakin dat outsized booty for anyone wif a camera. When dey not chimpin out at the Popeyes or quick-stop. Drinkin in publick; actin out, "street takeovers" and SHOOTINGS.

Yah. Dat da kinda peepul we wanna run t'ru koledge, fer sure.

So. Florida's near-overnight appeal as a holdout of conservative America, is eroding - fast.

I'd seen it before. New York, when I was a kid, was "progressive" but well run...it wasn't expanding industry but it was holding its own. Upstate, was still conservative - they tolerated (the slimeball) Nelson Rockefeller, because he (his underlings; the man was a simpleton) wasn't screwing things up. High taxes were the cost of having reliable road-paving and snow removal.

Of course, anyone who has looked at the history of "progressive" government, knows, this won't last. It only runs one way.

Now the Vampire State is Leftist anarcho-tyranny.

Colorado. Thirty-five years ago it was a small-government, low-tax Blue State. Thirty years of Califfornistan burping up its Leftists, who like to spout their dogma, vote as they chatter, but don't like taxes or chaos...well, they didn't change how they voted, and now Colorado's exceeding even the California collapse.

Ohio, just in the last 15 years. ENDLESS Somali and then Haitian waves of "migrants," coupled to people who tired of the increasing dysfunction of government and disappearing employment opportunities...these go-getters have left. Young people in state colleges, quickly leave. Their parents stay put, but only until they retired (retirement was A Thing until recently). Then they would go to...where? FLOOR-I-DAH.

Now Ohoho is rivalling Minnehaha in Turd-World corruption and beholden government. Wait until Vivek is elected gubbernator - MOAR waves of aliens, this time from India (and Pakistan) coming in.

So. We're running out of places, but all these refugee regions, like Texas, like Arizona, like Floriduh...going bye-bye.

Nor is there a clear place we can go to - unless the Left manages to completely empty Haiti into the Midwest. I think Euro-Americans could do real well in Haiti, once its cleared and all the feces and flotsam removed...
 
Casey Jones said:
Eventually these dynamics shift.

With DeSantis out, and with a whole phalanx of RINOs (including the Jeb-Shrub retreads) waiting in the wings...AND with the Left now feasting on their newest power base, real-estate taxation and HOAs (an unconstitutional, unelected stealth-government structure) the allure of Florida is rapidly dissipating.

I never fully understood it. Yeah, it's great in the winter. And beaches are nice, particularly when they're decorated with bikinis during Spring Break.

Balance that. The ground is unstable, with sinkholes manifesting from time to time. That's nothing new; I remember a summer resident (former resident, retired high-school phys-ed teacher) talking to us kids over coffee on the back patio of the pro shop, about the emergence of sinkholes. George blamed all the new housing draining the aquifers. It hasn't gotten better - now Florida has mega-apartment high-rises.

Then, the weather. Sunshine in February, is nice. Trying to evacuate as a hurricane is bearing down, with a carload of valuables, kids, cranky wife, and two dogs...and HOPING to find a motel that will take all of you...that ain't fun. Nor is the cleanup later.

Nor the cancellation or the legal-gymnastics the "insurance" companies now use to only partially pay, or refuse to pay.

Even the bikinis. Now it's not blonde coeds, mostly. It's female hood rats, shakin dat outsized booty for anyone wif a camera. When dey not chimpin out at the Popeyes or quick-stop. Drinkin in publick; actin out, "street takeovers" and SHOOTINGS.

Yah. Dat da kinda peepul we wanna run t'ru koledge, fer sure.

So. Florida's near-overnight appeal as a holdout of conservative America, is eroding - fast.

I'd seen it before. New York, when I was a kid, was "progressive" but well run...it wasn't expanding industry but it was holding its own. Upstate, was still conservative - they tolerated (the slimeball) Nelson Rockefeller, because he (his underlings; the man was a simpleton) wasn't screwing things up. High taxes were the cost of having reliable road-paving and snow removal.

Of course, anyone who has looked at the history of "progressive" government, knows, this won't last. It only runs one way.

Now the Vampire State is Leftist anarcho-tyranny.

Colorado. Thirty-five years ago it was a small-government, low-tax Blue State. Thirty years of Califfornistan burping up its Leftists, who like to spout their dogma, vote as they chatter, but don't like taxes or chaos...well, they didn't change how they voted, and now Colorado's exceeding even the California collapse.

Ohio, just in the last 15 years. ENDLESS Somali and then Haitian waves of "migrants," coupled to people who tired of the increasing dysfunction of government and disappearing employment opportunities...these go-getters have left. Young people in state colleges, quickly leave. Their parents stay put, but only until they retired (retirement was A Thing until recently). Then they would go to...where? FLOOR-I-DAH.

Now Ohoho is rivalling Minnehaha in Turd-World corruption and beholden government. Wait until Vivek is elected gubbernator - MOAR waves of aliens, this time from India (and Pakistan) coming in.

So. We're running out of places, but all these refugee regions, like Texas, like Arizona, like Floriduh...going bye-bye.

Nor is there a clear place we can go to - unless the Left manages to completely empty Haiti into the Midwest. I think Euro-Americans could do real well in Haiti, once its cleared and all the feces and flotsam removed...
Click to expand...
Northern Arkansas, for now. "Bible Belt" and mostly high trust whites. Relatively low cost of living, plenty of water and coming from Minnesota, no (almost none) snow!
 
You must log in or register to reply here.
Back
Top Bottom