So when’s the housing bubble bursting?

A to Dah K said:
Anyone paid off mortgage and regret it?
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Nah - it worked out pretty good. Worked like crazy for a number of years in my 20s in the 2000s to save up for a huge downpayment. Wasn't getting paid alot, but maintained keeping bills / living expenses modest. At one point had a high-interest savings account (set aside for the eventual real estate buy) that was covering the bulk of my bills.

Bought a 2 year-old place.

Paid it off shortly thereafter.

Been able to save for a number of years now, and feeling better about eventual early retirement (probably around 2038 - 2040). Compared to say 2045.

The assessed value of the property is currently almost 2.5 times the purchase price in spring 2009.

Thought about buying a rental property earlier in the 2010s locally ... but was always hesitant with how expensive everything is, and didn't want that headache of dealing with renters for decades to come paying off an overpriced, undersized place.

I'd rather just have the passive income from investments.
 
Helico-pterFunk said:
Nah - it worked out pretty good. Worked like crazy for a number of years in my 20s in the 2000s to save up for a huge downpayment. Wasn't getting paid alot, but maintained keeping bills / living expenses modest. At one point had a high-interest savings account (set aside for the eventual real estate buy) that was covering the bulk of my bills.

Bought a 2 year-old place.

Paid it off shortly thereafter.

Been able to save for a number of years now, and feeling better about eventual early retirement (probably around 2038 - 2040). Compared to say 2045.

The assessed value of the property is currently almost 2.5 times the purchase price in spring 2009.

Thought about buying a rental property earlier in the 2010s locally ... but was always hesitant with how expensive everything is, and didn't want that headache of dealing with renters for decades to come paying off an overpriced, undersized place.

I'd rather just have the passive income from investments.
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THIS.....

I am one and done with being a landlord....Cool for some, but not for me....

DC has unique laws and is very tenant friendly (ex. the city can put a lien on your house if the water bill goes pass due for $600)

Putting the responsibilty of a tenant to reimburse you back for a bill was a bitch....
 
DC_Dude said:
THIS.....

I am one and done with being a landlord....Cool for some, but not for me....

DC has unique laws and is very tenant friendly (ex. the city can put a lien on your house if the water bill goes pass due for $600)

Putting the responsibilty of a tenant to reimburse you back for a bill was a bitch....
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It definitely takes a huge amount of patience dealing with some types of renters.

My aunt told me some horror stories about renting out the home she grew up in, that she went on to co-own with now-late grandma. I.E. - "The house got broken into ... you think the renters would have the courtesy to call me and tell me? Why am I finding out a month later?"
 
praetor said:
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Homebuyer Demand Plunge to Lowest Level in 30 Years

Mortgage rates may be a significant factor this year to determine whether the housing market will become more affordable for Americans, something President-elect Donald Trump is expected to strive for—though Reventure's data suggests that many remain cautious as they wait for rates to drop further.

By Giulia Carbonaro
January 14, 2025

www.newsweek.com

Homebuyer demand plunge to lowest level in 30 years

Demand for mortgage applications has plummeted since its pandemic peak, and not even new Fed cuts are reassuring homebuyers.
www.newsweek.com www.newsweek.com
 
DC_Dude said:
Damn 8K - 10K???

That's whole different tax bracket though...
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8k to 10k Mortgage mortgage payment for a house?

I would take that monthly payment and put it down on one of these….

0aefd6bac7366d50d2ca0bed145fb20e.png


When the fires, tornadoes and hurricanes come.

I’m heading out “Eastbound and Down”!!!
 
blackbull1970 said:
8k to 10k Mortgage mortgage payment for a house?

I would take that monthly payment and put it down on one of these….

0aefd6bac7366d50d2ca0bed145fb20e.png


When the fires, tornadoes and hurricanes come.

I’m heading out “Eastbound and Down”!!!
Click to expand...


For real.

Goes to article and the loan officer is based out of DC.
A place with a concentration of a lot of high earners.
 
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