Q3 2022 – State of the Market Mega-Thread – Recessions, Doomers, Hoomers, and Boomers edition

Observations, rants, theories, speculation on future market movement, experiences, offer heartbreak, buyer fatigue, seller drama, mortgage drama, appraisal drama, anecdotes, new construction builder shenanigans, rate predictions, frustration with seller listing price strategy, crystal balls, and so on, that you may not feel warrant their own threads, but you want to get it off your chest.

Individual threads of that nature, that are repetitive (the 1000th thread consisting of “omg the market is hot and rates are high!!”, for example, doesn’t warrant it’s own thread if that’s all the OP is) may be merged into here, too.

These used to be once a month, but I did the last thread as quarterly because it seemed like the drama just had to slow down, we were bound to enter a slow news cycle, at least that’s how I was feeling in April. 10k posts later… whelp, we’re just going to double down and make this one quarterly too. I was going to hold off on making this thread until the 2022 recession was officially announced here or somewhere similar, but we’re a week into when my feely feels say we “should” be officially in a recession, so I’m pulling the trigger now, since we all know emotions are the primary drivers of real estate decision making in general, and we wouldn’t want to be inconsistent with that now, would we?

According to reddit’s algorithm, here was the “best” AND “top” post from last quarter, by /u/ISpeakInAmicableLies (IMO should also be a 5 star Yelp review of this sub) (emphasis mine):

This ongoing thread is absolutely addicting. I’m not even looking to buy now anymore because I thought at this point I might do better buying a practice (I’m a dentist). But I can’t stop coming here. There’s just constant unabashed boasting, painful to read desperation woven into crazy narratives and cringe-worthy prognostication. It’s like watching The Office back in the day; it’s not even always exactly enjoyable – just uncomfortable in a way you can’t stop following.

Most “controversial” post, by /u/dpf7:

LMAO off at the bubble mod letting his minions know he will keep them updated about hypothetical future cease and desist orders that he is fantasizing will be coming soon from NAR.

These dipshits have such an astoundingly inflated sense of importance.

Because of the earlier Double Win, here is the 2nd “best” post, by /u/pillowmountaineer:

I am not having a good time

Breaking news! We interrupt this program for an EXCLUSIVE “Where are they now?” update from /u/pillowmountaineer below:

Decided to randomly check this sub just now and saw the new thread. Super cool to have one of the “best” comments. I’d like to report that after 6+ months of searching we are finally under contract for a new house, and we are under contract to sell our current house. So I am having a slightly better time than I was before. I plan to never buy or sell another piece of real estate for the rest of my life. This market is bonkers all around. Good luck besties and I’ll see you on the other side

And here is the 2nd from the “top” post, by most serene of satirists /u/pic_bot:

Cry more, doomers! Here in Poopton people are buying up homes faster than ever. The WFH crowd are here to stay, and they LOVE our way-of-life and are keeping their six-figure coastal DINK salaries.

People are finally tired of overpaying for a tiny box in hellholes like SF and NYC, and so they are loving paying fair market values for homes within a stone’s throw of local attractions like Coldstone Creamery, the Olive Garden, and the municipal water treatment plant.

In the evenings you can relax by listening to the Poopton Philharmonic play from their new venue (which doubles as the middle school auditorium during the day). If you’re in the mood for an exotic taste of the big city, a new Panda Express just opened up near the old Dollar General.

I think it’s fun to highlight (in)famous posts, but best, top, and controversial are the only three algorithmically spit out by reddit. If there’s some 3rd party website that will algorithmically rank posts in a thread, by this criteria or that, that anyone is aware of, that would let us highlight more (in)famous posts in the next thread, please share and tag me. 🙂