this post was submitted on 03 Aug 2025
619 points (98.9% liked)
Aged Like Milk
281 readers
7 users here now
A community dedicated to all those things in media and elsewhere that didn’t stand the test of time, at all.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Home sales fall to lowest level since the financial crisis-2009
Commerical real estate is also imploding.
https://www.biznews.com/sponsored/us-commercial-real-estate-market-imploding-bank-lending
https://brownstone.org/articles/the-meltdown-of-commercial-real-estate/
https://www.unitedstatesrealestateinvestor.com/commercial-collapse-escalates-mall-owners-default-as-retail-tenants-flee-en-masse/
Economy is over, everyone go home lol.
Yeah, oops, turns out, again, our entire economy is... whoah, another real estate bubble, who could have guessed?
Yep, this is the Second Great Depression.
Good luck and godspeed everyone, hope you know how to cook some basic staple goods.
Oh right, I forgot about ~70% of US agro workers fleeing ICE and basically all our crops dying on the vine, oh and also now we have to import food through tariffs.
=D =D =D
Except this time they're expensive, not cheap.
Also, it makes me wonder if the REITs are starting to run out of buying capacity, which I'm guessing implies even more economic instability than even pessimistic folks realize.
I am not certain that its ... that REITs are running out of money broadly... not quite yet at least...
But I am 99% convinced that basically every private homeowner and small time flipper / 'real estate investor' who just recently took their homes off market, after them already being on market 120 days +...
Yeah I'm pretty sure basically all those people are underwater, not necessarily on the property per se, but their total personal financial outlook is now fucked, from 401ks crashing earlier this year, and just generally way too high debt / debt to income ratios, general cost of living increase from tariffs/deportations.
Hooray HELOCs!
Don't worry, date the rate, marry the house, you can always refinance at a better rate later!
(except when you can't, why did you believe the used ~~car dealer~~ home salesperson?)
These people overextended and refuse to entertain a price point where they'd have to end up getting a real job or selling half their shit.
So, a bunch of them in a few noticably fucked markets actually withdrew their for sale listings... in what I can only describe as a hilariously ineffective, delulu gambit to lower overall supply and thus try to stymie that bit of the fundamentals behind the collapse.
What they evidently do not realizs is thag the actual REITs and other mass property owners... they're just gonna keep dropping prices, they can afford to do that, they have bigger pockets...
So, when Joe Blow former AirBNB landlord tries to list again in 3ish months, oh no! Comps are down by another 5-10%! Who could have predicted this!?
Its wild to see basically the housing market now just broadly act in the dumb money vs smart money vs institutional money dynamics that the stock market does, at such a scale.
So many of these petite bougeois are gonna be having total mental breakdowns that nope, they didn't make the cut, fission mailed, generational wealth not achieved, put the fries in the bag.