Real Estate market now?

If you are a ten+year truck keeper like me, what a great deal, as long as you have the income stream to service the debt. Unfortunately, I just bought a 2019 hold-over in January. Oh well.
I just updated my wheels, a 2006 2500HD Silverado with 249,000 miles. My new truck is a 1/2 ton and I'm keeping the old one for just a plow truck. Maybe I can get 2-3 more years out of it.:)

I did first plan to get a new 3/4 ton but after driving it with the new 6.6 gas engine I didn't like it. It was doggy and they're a gas hog like my old one. I got the 6.2 in my new 1/2 ton. I haven't got on it yet but I can tell she's going to be peppy.
 
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We’re listing end of Spring. I’ve called on a few houses for sale and was shocked that several were under contract.

If you’re not a blue collar worker and your industry can function w minimal disruption then this market will offer opportunities to buy at unique values.
Actually, at least in IL, blue collar workers will survive. They kept manufacturing open, at least for now. The service workers are getting slaughtered.
 
I just updated my wheels, a 2006 2500HD Silverado with 249,000 miles. My new truck is a 1/2 ton and I'm keeping the old one for just a plow truck. Maybe I can get 2-3 more years out of it.:)

I did first plan to get a new 3/4 ton but after driving it with the new 6.6 gas engine I didn't like it. It was doggy and they're a gas hog like my old one. I got the 6.2 in my new 1/2 ton. I haven't got on it yet but I can tell she's going to be peppy.

That 6.2L engine is awesome. You are going to love it.
 
I’m going to consider that Chevy 6.2 after we sell the house.

It’ll tow a bigger boat. :D
 
I am a Ford guy. However I have a 2018
Chevy hd2500 4wd tool bed truck. It’s only got 1650 miles, I bought it new and
Never used it. It’s going down the road. 73503581-2A54-492B-8481-66C62C11E04E.jpeg
 
After all the problems I have had with 3 of my 5 Fords (2 needed new engines and 1 used oil like crazy and got rid of it). But anyway, I bought a 2018 Ram 2500 6.4L last May. Love the truck and only have about 14,000 on it. I would consider a new one under the right circumstances but probably only if it's a diesel. Mine is loaded except leather and sunroof so the equivalent in a diesel would be about $70,000. No need for a diesel and I only owe $20,000 on mine so highly unlikely I'll get rid of it. I usually keep my trucks 5-6 years but if I continue working from home (been working from home for over 4 years) there is a chance I will keep this one at least that long.

My son has been averaging about 1500 miles/week on his truck the last 3 or 4 months. His truck is identical to mine but because of the miles and resale he would like to get a diesel so that might be in his plans.
 
I thought this thread was about RE during the virus but 80% of the posts are about trucks! o_O
 
I'll second that about the resale value.

@El Capitan I've had no problem with Fords and the turbo motors....or a Ram and the Hemi.

Had a '14 with the 3.5 eco, no issues. Kept it 2 years and 60k miles, traded it for $10,000 less than I paid.

Ordered a '16 F150 with the 2.7 eco. No issues. Traded it on my ordered '19 Ram, again after 2 years, 60k miles for $10,000 less than I paid.

Kept my '19 Ram 20 months and 20,000 miles. Traded it for $7500 less than I paid - just don't drive it due to a company car now. Its a Chevy but it's free!
 
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No worries guys! I love trucks. I guess we all do.

On the RE front, I thought I heard on the radio today that our Governor Pritsker (Illinois) is requesting a 1year “ forbearance” from mortgage lenders Freddie Mac and Fannie Mae as well as commercial mortgage holders!

Anybody else hear this?
 
My daughter is ready to buy a house now and has been standing on lines to get into open houses on Long Island, they also got turned down on 2 full price offers apparently they go straight to bidding wars. They can’t look at enough houses fast enough they’re going into contract within the first few buyers walk through them.
 
My daughter is ready to buy a house now and has been standing on lines to get into open houses on Long Island, they also got turned down on 2 full price offers apparently they go straight to bidding wars. They can’t look at enough houses fast enough they’re going into contract within the first few buyers walk through them.
Tell her to wait a few weeks/months. People going crazy over housing right now are nuts. The fundamentals of the economy have changed. We will have lower growth going forward for the foreseeable future.
 
My daughter is ready to buy a house now and has been standing on lines to get into open houses on Long Island, they also got turned down on 2 full price offers apparently they go straight to bidding wars. They can’t look at enough houses fast enough they’re going into contract within the first few buyers walk through them.

That was the case on Long Island until this craziness started. A friend is a real estate lawyer and another has a title company. They interact with Real Estate people all the time. Things slowed down real fast these last two weeks.
The hope is that when all this is over that low interest rates and a desire by more NYC apartment dwellers to get more space because of their recent experience with COVID lockdown will restart the hot market quickly.
Wife’s niece and her husband have 3 year old and 1 year old that they’re locked down with in their upper west side apartment. They’re re-evaluating their plan to raise their kids in the City now.
My daughter lives on the East side, one nephew lives close to her and another lives down by Fulton Fish Market. All are questioning their choice to live in Manhattan right now.
 
I’m one of those keep it till the wheels fall off... then buy new wheels kind of person.

My truck is a 2000, got 203,xxx mi.
My SR is a 1970.
My Harley is a 1971.
My Bimmer 1992, had 290,xxx when the tranny gave and I donated it.

If I felt these new fangled plastic vehicles were worth the $40k-$50k I’d prolly pull the trigger but I don’t think the new stuff will last as long as I like to keep.

I feel the same, but I had to make a change. My 16-year old son got my beloved ‘99 Silverado, so instead of gambling again in the used car market, I dropped my bundle on a 2019 holdover Dodge 2500 to pull my boat. My first new vehicle, ever. I have to admit - it is very nice. I did not get the Laramie. Base Big Horn. But wow! Trucks sure have advanced in the years since my 1970 Chevy C10, 3-on-the-tree, no ac!

My boats?
2001 280DA
1989 220CC
1981 Monark 16-ft waiting to repower with a 30-hp OB.
I like the older stuff.
 
That was the case on Long Island until this craziness started. A friend is a real estate lawyer and another has a title company. They interact with Real Estate people all the time. Things slowed down real fast these last two weeks.
The hope is that when all this is over that low interest rates and a desire by more NYC apartment dwellers to get more space because of their recent experience with COVID lockdown will restart the hot market quickly.
Wife’s niece and her husband have 3 year old and 1 year old that they’re locked down with in their upper west side apartment. They’re re-evaluating their plan to raise their kids in the City now.
My daughter lives on the East side, one nephew lives close to her and another lives down by Fulton Fish Market. All are questioning their choice to live in Manhattan right now.

Tell her to bring her family to south Louisiana so we can raise those kids right down here in God’s Country! She’s welcome here.
 
That was the case on Long Island until this craziness started. A friend is a real estate lawyer and another has a title company. They interact with Real Estate people all the time. Things slowed down real fast these last two weeks.
The hope is that when all this is over that low interest rates and a desire by more NYC apartment dwellers to get more space because of their recent experience with COVID lockdown will restart the hot market quickly.
Wife’s niece and her husband have 3 year old and 1 year old that they’re locked down with in their upper west side apartment. They’re re-evaluating their plan to raise their kids in the City now.
My daughter lives on the East side, one nephew lives close to her and another lives down by Fulton Fish Market. All are questioning their choice to live in Manhattan right now.

Tell her to bring her family to south Louisiana so we can raise those kids right down here in God’s Country! She’s welcome here.
 
Tell her to bring her family to south Louisiana so we can raise those kids right down here in God’s Country! She’s welcome here.

Fair warning: My wife’s niece is a lawyer. Both her and her husband are screaming bleeding heart liberals.
Still want them?
On the other hand: After attending college in DC, and graduating from there last May, my daughter is somewhere right of Rush Limbaugh. She was always a fairly pragmatic conservative, but after seeing the reaction of faculty and other students to the 2016 election she took a hard right turn. Many of her college friends did too.
She wanted to know why people who have not lost jobs or income in this crisis are getting checks from the government.
She really went nuts when she figured out that she was still a dependent on my 2018 return and we don’t qualify for any of the stimulus money they’re going to hand out.
 
Fair warning: My wife’s niece is a lawyer. Both her and her husband are screaming bleeding heart liberals.
Still want them?
On the other hand: After attending college in DC, and graduating from there last May, my daughter is somewhere right of Rush Limbaugh. She was always a fairly pragmatic conservative, but after seeing the reaction of faculty and other students to the 2016 election she took a hard right turn. Many of her college friends did too.
She wanted to know why people who have not lost jobs or income in this crisis are getting checks from the government.
She really went nuts when she figured out that she was still a dependent on my 2018 return and we don’t qualify for any of the stimulus money they’re going to hand out.

Your daughter sounds like she has it together. You’re very lucky and I’m sure are proud of her.

She can babysit my two granddaughters anytime!

Reading these confirms there is hope for the younger generation.
 
Fair warning: My wife’s niece is a lawyer. Both her and her husband are screaming bleeding heart liberals.
Still want them?
On the other hand: After attending college in DC, and graduating from there last May, my daughter is somewhere right of Rush Limbaugh. She was always a fairly pragmatic conservative, but after seeing the reaction of faculty and other students to the 2016 election she took a hard right turn. Many of her college friends did too.
She wanted to know why people who have not lost jobs or income in this crisis are getting checks from the government.
She really went nuts when she figured out that she was still a dependent on my 2018 return and we don’t qualify for any of the stimulus money they’re going to hand out.

Once they get down here and see how hard working, God Fearin’, Americans love their country and kids, I’m quite sure she will be converted.

Also, $200k will get you a 3000sq ft house on an acre of land down here. Easy to adjust political views when you see people really do exist outside of NY City.
 

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