Where they going to go? They been there and work there . It’s not easy for people to just pick up and leave to a new job that pays the same wage or similar somewhere else
So when’s the housing bubble bursting?
- Thread starter Dr. Truth
- Start date
The problem is a collapse like 2008 isn’t happening. Not to mention Intrest rates are high so you’ll still be paying out the ass
Fuck this entire process. For real.
Wifey and I have decided to fall back on looking. It’s not worth it right now and investors our destroying our area.
What makes these people think we got the jobs to sustain these crazy prices? I think these investors are flipping houses between each other.
We have saved up too much money to just toss into possibilities or into shit we don’t want.
Props to you kats who were able to buy before all this mess and have benefited from it.
Wifey and I have decided to fall back on looking. It’s not worth it right now and investors our destroying our area.
What makes these people think we got the jobs to sustain these crazy prices? I think these investors are flipping houses between each other.
We have saved up too much money to just toss into possibilities or into shit we don’t want.
Props to you kats who were able to buy before all this mess and have benefited from it.
theres like 50+ versions of those list depending on how they choose to calculate, always diff ways u extrapolate the data
We're already at the point where any cosmopolitan metro in the world is going to be very high COL, you really wouldn't save much if any between them
I guess if my job pays me 10k a month, I just don't see myself paying 4-5K in rent just to be closer to the building when I can stay 30-40min away and pay maybe 2.5K in rent.
Normally when you pay that much for rent you are paying for something extra, mostly its because of location and or some spectacular view,
or both..
its when you have neither and paying that amount I find weird as fuck... Nothing like being able to step out your door and not have to worry
about stupid fuckin gas prices...
bruh now and days it may cost more in the long run
to pay cheaper rent but live further away because of those criminal fuckin gas prices..
Fuck this entire process. For real.
Wifey and I have decided to fall back on looking. It’s not worth it right now and investors our destroying our area.
What makes these people think we got the jobs to sustain these crazy prices? I think these investors are flipping houses between each other.
We have saved up too much money to just toss into possibilities or into shit we don’t want.
Props to you kats who were able to buy before all this mess and have benefited from it.
Sorry to hear my brother, it's going to happen for you though.
We are about to sell in Decatur and move back to Oakland (rent). Gonna ride this ish out and bank the equity.
Interest rates are rising rapidly and housing prices don’t make sense. Our house went up 100 percent since 2020. Shit is stupid right now. We are making fixes but not going overboard.
Crazy times
Interest rates are rising rapidly and housing prices don’t make sense. Our house went up 100 percent since 2020. Shit is stupid right now. We are making fixes but not going overboard.
Crazy times
It’s disappointing.
The house prices are too high and there is so much audacity with the sellers.
I might be able to understand if it was a major city where jobs with high pay rates exist, but Greensboro, NC isn't like that.
I check Zillow for a particular zip code. Peep what I found out.
This particular zip code is a hot market, but when I went to check the lot lines and recently sold, I saw a lot of yellow. Houses sold within the last year.
But the zip code I stay in now is the apex of real estate in my city. In other words, there isn’t many other places you can move to and get high quality real estate than where I am at now. And nobody is selling because there isn’t anywhere else to really go. Plus, they understand that selling to investors will fuck up their area when most people here are families.
So everybody buying in that hot market zip code is paying over 100k in area I can’t possibly see sustaining that value.
If the people in high end real estate area isn’t selling, then what does that tell us?
I hear you, it sounds like with what's going on in your area it might be your only choice.
Even if you stop looking I would still keep my eye on what is out there since you never know.
I may have finally caught a break.
I had my bid for a house accepted a couple of weeks back and have paid the down payment as well as had it inspected.
The house is in good shape but does have some needed repairs which should be minor. I'm purchasing it from an older couple who lived there longer than I've been alive which is a good.
Aside from the (apparently) minor repairs the rst is just aesthetics and upgrades which I can do a little at a time.
Still a few steps to go so I don't want to count my chickens before they hatch. I won't feel comfortable until I'm actually moving into that bitch.
Where in NYC are you going to rent a place for 2.5K that ain’t the hood? I’m talking a family not a solo person
Congrats and where you got so far, fam. I’m happy to hear you’re moving along in the process.
I’ll be keeping my eye on things, but I hate relying on hope. But it’s all I got.
We’ll get it, things just need to cool off. The issue isn’t getting a house. It’s getting a house that we want that’s the issue.
I’m being picky. So my complaints and annoyance is coming from an entitled perspective.
Thanks.
Nah, it's not entitled at all.
You're making a potentially 15-30 year decision and may be buying the last home you'll ever live in that may ne passed down to your next generation so you're right to not settle.
It isn't obvious yet but things are cooling off already. The house I bid on successfully is in a great, desirable area and will most likely be worth more than I paid even after only slight, aesthetic improvements.
And the houses in the area are all valued higher so its very unlikely to decrease in value.
So when I bid on it I had no expectations of winning but my offer was accepted the same day.
Had I bid in that house 2-3 weeks earlier my bid would have more than likely been too low.
Hey man, thanks for not making me sound uppity. Lol.
My issue is I’m not bidding enough over the listing price. I’m giving a high due diligence so it can act as a down payment and lower my monthly mortgage payment.
I’m giving them a lot of cash up front, but they want the over bid on the listing price too. Greedy bastards
Yeah, things are cooling off, so I’m not tripping. Spoke with my family and we are all in agreement. Plus, my daughter gets to stay in her high school district a little longer. Thant’s important to here, and therefore, important to me.
Hey man, thanks for not making me sound uppity. Lol.
My issue is I’m not bidding enough over the listing price. I’m giving a high due diligence so it can act as a down payment and lower my monthly mortgage payment.
I’m giving them a lot of cash up front, but they want the over bid on the listing price too. Greedy bastards
Yeah, things are cooling off, so I’m not tripping. Spoke with my family and we are all in agreement. Plus, my daughter gets to stay in her high school district a little longer. Thant’s important to here, and therefore, important to me.
I hear you, it also gives more time to save.
I'm pressed because my lease ends in November and based on what I'm seeing I expect the rent for this spot to be close to or more than what I would pay for a mortgage.
If you're coming with that much up front I would consider (if you already haven't) buying down the interest rate instead of making a higher down payment which can save you a significant over the life of the loan.
What do you mean by “buying down the interest rate?”
Im not pressed. I haven’t signed a lease in over 9 years. Month to month and saving. But the reality is, I need to make moves.
We got an exit plan of the landlord decides to change.
You can put money towards buying down the mortgage interest rate for the life of your loan which will reduce your mortgage costs.
How To Buy Down Your Interest Rate | LendingTree
Learn how a mortgage rate buydown can help you lower your interest for a set time period or permanently.
www.lendingtree.com
Great discussion thread. Bump.
Well yeah, true dat, but the median is 3K in Brooklyn. I would at least stay in Brooklyn.
Thinking more along the lines of Atlanta, ain't no place to me worth 5K in Atlanta for rent. Maybe commercial, but not no damn apartment. My MAX in ATL is 2.5K. Any place in ATL that's 5K better come with a live-in disease-free maid whore.
I'm hoping to find a deal....somebody trying to get rid of something
Man what’s crazy is you have all these house flippers who swoop in buying off market houses from people looking to quick sell . They even say you can leave your items and they will dispose of it. Most people can’t compete because they are private unlisted homes. It’s completely fucked.
You can put money towards buying down the mortgage interest rate for the life of your loan which will reduce your mortgage costs.
How To Buy Down Your Interest Rate | LendingTree
Learn how a mortgage rate buydown can help you lower your interest for a set time period or permanently.www.lendingtree.com
That’s interesting. I didn’t know about this.
Thanks for sharing.
Fuck this entire process. For real.
Wifey and I have decided to fall back on looking. It’s not worth it right now and investors our destroying our area.
What makes these people think we got the jobs to sustain these crazy prices? I think these investors are flipping houses between each other.
We have saved up too much money to just toss into possibilities or into shit we don’t want.
Props to you kats who were able to buy before all this mess and have benefited from it.
Stay strong bro
my sister just brought in this market
She had to pull from her 401 but says it’s worth it
That’s how I found my land. I bought it privately from the estate of a dude who didn’t have kids. It is a very sought after neighborhood. So I demolished the house and built my own shit.
I told them to leave all his stuff and I had a company empty it out.
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I want to leave nashville for this very reason but when everywhere is expensive where do you go?
No end game until People wake up and realize they are being fucked. Otherwise it's gonna keep on going IMO
People Are Sharing Examples Of How Modern Homes Are Poorly Made, And It's Actually Super Interesting
www.buzzfeed.com
People Are Sharing Examples Of How Modern Homes Are Poorly Made, And It's Actually Super Interesting
"Why do modern home architects hate coat closets?"
Housing prices in Canada could fall 15 per cent by Dec. 2023 after Bank of Canada rate hikes: report
As the Bank of Canada continues to hike rates in order to curb inflation, housing prices in Canada could fall 15 per cent from its peak by the end of next year, a new report from Desjardins says.
Lol, some good points.People Are Sharing Examples Of How Modern Homes Are Poorly Made, And It's Actually Super Interesting
People Are Sharing Examples Of How Modern Homes Are Poorly Made, And It's Actually Super Interesting
"Why do modern home architects hate coat closets?"