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How will the housing market slowdown affect the coin market?

291fifth291fifth Posts: 24,426 ✭✭✭✭✭
in U.S. Coin Forum
It's happening. Your thoughts?
All glory is fleeting.

Comments

  • PeacemanPeaceman Posts: 5,098
    Not slowing in my area a bit....

    I dont think it'll do a thing...
  • ScavengerScavenger Posts: 987
    Still full speed ahead in Florida for both markets.
  • IrishMikeIrishMike Posts: 7,737 ✭✭✭
    No, in fact the housing market is still cooking right along here.
  • BaleyBaley Posts: 22,663 ✭✭✭✭✭
    by "housing market slowdown", do you mean that prices are going UP slower than they were going up a few months ago?

    because prices sure ain't going down in my neck of the woods.

    Liberty: Parent of Science & Industry

  • 291fifth291fifth Posts: 24,426 ✭✭✭✭✭


    << <i>by "housing market slowdown", do you mean that prices are going UP slower than they were going up a few months ago?

    because prices sure ain't going down in my neck of the woods. >>



    A report out today indicated a definite slowdown for the country overall. We may be seeing the liquidity problem in action at the moment. No one wants to admit that the market in their area is down but if they really need to sell they can't get close to what they would have gotten a year or two ago.
    All glory is fleeting.
  • mirabelamirabela Posts: 5,046 ✭✭✭✭✭


    << <i>they can't get close to what they would have gotten a year or two ago >>



    I can only speak for where I live, but around here this is definitely not true. Prices are higher, but they aren't higher by as much as they went up the year before. Also, things take a little longer to sell. The big boom might be done for a while, though.

    Will this affect what people spend on coins? I have no friggin' clue.
    mirabela
  • millenniummillennium Posts: 3,305
    LOL...the housing market is VERY strong here in Southeast Ga....I can't build 'em fast enough...image
    My Coin Find Videos
  • Dave99BDave99B Posts: 8,584 ✭✭✭✭✭
    Seattle is on fire.... (luckily it rains a lot).

    Dave
    Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
  • TrimeTrime Posts: 1,863 ✭✭✭
    The real estate market has been the driving force of the economy in the past 4 years. It has given a false sense of wealth as homeowners refinanced and spent the $ generated from increased appraised value. There are serious concerns that a significant downturn could occur. Obviously this could at some point impact on non-core spending. I would not underestimate the possibility of a weakening of the economy. Hope not but.... I try to stay of very thin limbsof the tree.
    Trime
  • orevilleoreville Posts: 12,031 ✭✭✭✭✭
    The housing market slowdown will absolutely hurt the coin market but on a delayed basis of up to 1-2 years.

    A Collectors Universe poster since 1997!
  • BobaFett72BobaFett72 Posts: 7,304
    In the Northeast and in New England the market has definitely peaked. House are not selling for what they were 6 months or a year ago. They are also staying on the market far longer; anywhere from 5-9 months longer with plenty of competition. Just a matter of time for this trend to trickle elsewhere. Way too many folks are in houses that they can't really afford with 40 year mortgages or interest only ones. Going to be a nice buying opportunity down the road. I'm glad that my house is paid for in this market.

    cheers
  • capecape Posts: 1,621 ✭
    im a building contractor in the northeast and my lawyer tells me housing has seen a serious slowdown! you cant blame it on the weather because this winter has been seriously mild! pricing for land and housing is starting to see corrections in value.
    ed rodrigues
  • ShamikaShamika Posts: 18,785 ✭✭✭✭
    No more refi money! image


    Buyer and seller of vintage coin boards!
  • AJ2525AJ2525 Posts: 477
    Hello,

    I read today on Yahoo Finance about the housing slowdown. The further point I wonder about is how many people who work in the refinance business and were busy while everyone was buying real estate and refinancing. If that market slows down quite a few people will be out of work. The impact on the economy from that is something that's making me think.

    How much of an impact will those job losses have?

    How many of the (foolish) people who stretched too far to get "the big house" will get squeezed when their interest only mortgage monthly costs go up?

    Don't worry too much. Inflation makes debts seem smaller. If the Fed keeps pumping money into the economy then those people won't be in too much trouble. Just the entire US economy will slowly sink....
    Some call it an accumulation not a collection
  • dizzyfoxxdizzyfoxx Posts: 9,823 ✭✭✭
    The coin market will not skip a beat.image
    image...There's always time for coin collecting. image
  • relayerrelayer Posts: 10,570 ✭

    Who needs a house when you can buy coins?
    image
    My posts viewed image times
    since 8/1/6
  • IrishMikeIrishMike Posts: 7,737 ✭✭✭
    Property values go up steadily 2-3% here every year, I've been doing home loans since 1971. The 2 coasts and Texas get affected with large swings, not so with all the rest of the country. If you bought a home here 2 years ago and sold it today you will make a little money of course depending on neighborhood, etc. You just can't broad brush the entire country with statements. There hasn't been a wild swing here in my memory. Even in 79-81 when rates shot up folks just sat on their homes or got variable rate loans and refied when the market corrected.
  • ibzman350ibzman350 Posts: 5,315 ✭
    The real estate market has slowed down in my area, I do real estate settlements ...................it's slowed down.

    Less funds available.....................so when it comes to buying coins............................I've already talked to the wife and she's agreed to not buy as many clothes and such..image


    So yea the slowdown has effected my coin market.



    Herb

    Remember it's not how you pick your nose that matters, it's where you put the boogers.
    imageimageimage
  • WTCGWTCG Posts: 8,940 ✭✭✭
    No slowdown in the California Bay Area. I'm actually closing on a sale deal this week.

    Actually, a year ago a home for sale would receive at least 20 offers within two days. Now it's about 12 offers in two days.

    If anything I wish I had more money for real estate investments.
    Follow me on Twitter @wtcgroup
    Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭
    I spoke with a participant at the home construction suppliers convention in Las Vegas last month and was assured that there is a national slowdown in home building construction.
  • DeadhorseDeadhorse Posts: 3,720 ✭
    The bubble began to slowly deflate in the Houston area close to a year ago. It's slowly getting worse.

    There are 3-4 times as many homes for sale right now as the 20 average. Prices are falling to some degree and they certainly aren't going up.

    The problem is exacerbated by our property taxes going up 10% per year so some are being squeezed out of their homes due to taxes only.

    It's pretty sad when your taxes are more than your mortgage and that's the case for many families around here.

    You can pay off your mortgage, but you can never pay off the taxman.

    The stress on our infrastructure is in large part due to the illegal alien problem and no politician seems to give a damn about that. We are about to lose another large hospital due to the losses caused by the illegals. That's a monster unfunded mandate that we have Bill Clinton to thank for.

    A deflating housing market will affect all aspects of life, and coin collecting being a luxury means it will be one of the first to suffer.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,442 ✭✭✭✭✭
    when it slows down here, i'm gonna cherry pick some modern junk and think loving thoughts of laura image

    that's how it's gonna affect me image

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