So when’s the housing bubble bursting?

kdogg3270

Rising Star
BGOL Patreon Investor
Agreed.

And even when school debt is low ... the cost of getting into the market is such an uphill battle.

I went to a small college, so it wasn't that costly, but things add up. I used a combination of my own money, a small scholarship, and money my folks had set aside for us as kids in a RESP (registered educational savings plan). The money I had saved on my own was from drug store job, landscaping, newspaper routes x 2, and lawnmowing gigs, lol. The lawnmowing gigs paid the best (2 - 3x what the others did).

Even then ... I was sort of aimless in college for awhile before getting focused, but once I got into the work world I went HAM in my 20s and tried to save as much as possible. Went huge on the downpayment ... and that was beyond stressful.

To look at assessed property values now ... there's just no way! Place I purchased and other comparables in the area have more than doubled over the past 13 years. And working to save for that downpayment was working MULTIPLE jobs, numerous doubles, and being frugal as fuck. I'm talking leave the house and return 17 - 18 hours later type of hustle. Regularly.
that's grown man grind right there :thumbsup:
 

blackbull1970

The Black Bastard
Platinum Member
It's official, as of today I'm officially a homeowner!!

This was a long, stressful process over these last few months but I finally made it.

I have some work to do before I move in, hopefully by the end of the month.

Keeping you stressed out like that is pretty much by design with the process.

Being you are Black, you probably went into the process knowing all your financials were tight along with your “T”s crossed and “I”s dotted.

But you knew they were going above and beyond the call of duty looking for any dumb, small reason to deny you.

It’s one of the sorry ass reality’s of being Black in this country.
 

woodchuck

A crowd pleasing man.
OG Investor
You'll love that feeling when you're walking around in your place making it YOURS and thinking - "this is mine!" - all that hard work paid off!
Yeah, but it won't count if @OutlawR.O.C. don't do it right. For it to count, he has to walk around the house in his boxers, and every time he passes a mirror he has to point and say: "Who's the black homeowner? You're the black homeowner!"
 
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blackbull1970

The Black Bastard
Platinum Member
PBS Frontline: Facing Eviction
Aired 7/26/2022

Families struggle to keep their homes during the pandemic, despite a federal ban on evictions; with perspectives from tenants, landlords, judges and law enforcement.

 

OutlawR.O.C.

Rising Star
BGOL Investor
Keeping you stressed out like that is pretty much by design with the process.

Being you are Black, you probably went into the process knowing all your financials were tight along with your “T”s crossed and “I”s dotted.

But you knew they were going above and beyond the call of duty looking for any dumb, small reason to deny you.

It’s one of the sorry ass reality’s of being Black in this country.

No doubt.

Yeah, but it won't count if @OutlawR.O.C. don't do it right. For it to count, he has to walk around the house in his boxers, and every time he passes a mirror he has to point and say: "Who's the black homeowner? You're the black owner!"

Come on son, you know I already did that when first viewing the home.

No way I was putting my hard earned money down until I knew it felt right :lol:

Looks like it’s happening now looking for a condo downtown finally seeing lots of -25k -50k price cuts

Good luck!


Thank you:cheers:
 

Helico-pterFunk

Rising Star
BGOL Legend
that's grown man grind right there :thumbsup:


Thanks KD!

It all worked out in the end. The jobs weren’t the highest paying, and even now, but it instilled that work ethic and valuing a dollar. I find too when you have a budget and live within your means, there are no major surprises. Really glad to have hustled hard in my 20s. Was able to work like an MFer while still having the energy to do so. Worked for an assortment of places. Found my fave organization and been with them 18 years now. Our regular staff have been with us 12 - 22 years presently.
 

Helico-pterFunk

Rising Star
BGOL Legend
Yeah, but it won't count if @OutlawR.O.C. don't do it right. For it to count, he has to walk around the house in his boxers, and every time he passes a mirror he has to point and say ...

My pops said the same. Nothing like that feeling of walking around in your boxers with a cup of coffee like a G.

If you want to paint the interior, do so. Get a big new TV? Sure. Add some plants and shrubs outside? OK. Change the lighting or add different speakers or a new sound system one day? No doubt. Modify the place to your heart’s content.

:thumbsup::cheers:
 

kdogg3270

Rising Star
BGOL Patreon Investor
My pops said the same. Nothing like that feeling of walking around in your boxers with a cup of coffee like a G.

If you want to paint the interior, do so. Get a big new TV? Sure. Add some plants and shrubs outside? OK. Change the lighting or add different speakers or a new sound system one day? No doubt. Modify the place to your heart’s content.

:thumbsup::cheers:

this was the second thing i did to my house (after installing ceiling fans) after closing in 2017. I removed all the ugly globe light fixtures that came with the house and replaced them with directional / track lighting in the common areas. Ceiling fans in the bedrooms. House feels so intimate now.
 

Helico-pterFunk

Rising Star
BGOL Legend
this was the second thing i did to my house (after installing ceiling fans) after closing in 2017. I removed all the ugly globe light fixtures that came with the house and replaced them with directional / track lighting in the common areas. Ceiling fans in the bedrooms. House feels so intimate now.


Agreed.

Had to modify the lighting at home too. Just too MANY lights in total. My dad and I were joking that one washroom has 8 lightbulbs, and the other has 6.

One doesn't need 14 designer lightbulbs to cover 2 washrooms.

No one wants to see their face in that kind of lighting - it isn't flattering, lol.

The ceiling fans are a must. No doubt.

In regards to finance / savings too ... I have mentioned in a few separate threads over the years it's always a personal reminder that the 1st half of the year is when all the big bills come up. Feb = annual utilities, April = home insurance, May = car insurance, and June = property taxes. It doesn't sound like much ... BUT if you are living check to check, or cutting it very close with your finances ... that all adds up to thousands of dollars. So gotta make sure you've got that money available to pay bills, or incur fees / late charges.

The 2nd half of the year is when you can actually save (personally) or replenish your savings or emergency funds. That's when you just have your regular bills / CC payment to worry about.


Nothing wrong with having a routine and knowing WHEN it is most convenient for you to pay off certain bills. Make it a habit / nothing sneaks up on you.


:cheers:
 
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Helico-pterFunk

Rising Star
BGOL Legend
Van life/RV Life/Shuttle Bus Life/Ambulance Life. Tony house movement/container house movement


I can see why many people are doing that. Also, the amount of people who are becoming more minimalist in their day-2-day living.

They realize that just having a "bunch of stuff" isn't for them.

You actually feel better when you have less, but more KEY items and belongings. Stuff that routinely makes you happy. Not just a shitload of stuff to keep up appearances or impress your peers. Why have hundreds or thousands of random belongings if they're just sitting there collecting dust?
 

blackbull1970

The Black Bastard
Platinum Member
Van life/RV Life/Shuttle Bus Life/Ambulance Life. Tony house movement/container house movement

I pointed that out a number of times earlier in the thread and cats laughed at me.

White folks are getting into it heavily. Notice how all the RV dealerships and used lots selling ambulances/buses and military surplus vehicles are located no where near Black communities.

By the time Black folks get smart on it, the price will jack up making it non-profitable….while white folks will cash out big time selling it too Blacks.

Get into it now.
 

Helico-pterFunk

Rising Star
BGOL Legend


 

Mrfreddygoodbud

Rising Star
BGOL Investor



Canada like the democratic party got infested with psychotic

control freak parasites...

their housing situation is going to get worse

if they dont kill that shit...!!
 

DC_Dude

Rising Star
BGOL Investor
Van life/RV Life/Shuttle Bus Life/Ambulance Life. Tony house movement/container house movement

Yeah man...Tree hugger put me on to this movement years ago...Really good articles also

 

Helico-pterFunk

Rising Star
BGOL Legend









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Coldchi

Rising Star
BGOL Investor
as the interest rate keeps climbing.....so does the property taxes.
here in Dallas....a lady was forced to sell her home that she promised her dying godfather she wouldn't sell, due to not being able to keep up with the property taxes.
She went from paying $650 in 2013 to over $7,000 now. rent is damn near double for a 1bdrm apartment now.
 

Helico-pterFunk

Rising Star
BGOL Legend
as the interest rate keeps climbing.....so does the property taxes.
here in Dallas....a lady was forced to sell her home that she promised her dying godfather she wouldn't sell, due to not being able to keep up with the property taxes.
She went from paying $650 in 2013 to over $7,000 now. rent is damn near double for a 1bdrm apartment now.



Question - does anyone know how it works regarding how cities calculate property taxes, annual utilities, etc?


Just double-checked with assessment site. Property went up just under 14% since last year.


Property taxes went down about $50 - 100, and annual utilities were down approximately $200. A year prior (for comparison's sake) the prop' taxes were about 2.5 times that of the utilities.


Given the way everything else keeps climbing ... was definitely expecting those numbers to go up.
 
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Helico-pterFunk

Rising Star
BGOL Legend
Canada like the democratic party got infested with psychotic

control freak parasites...

their housing situation is going to get worse

if they dont kill that shit...!!





Yeah - it's a weird vibe overall.

In a perfect world if you were OK with moving around regularly, you could up and sell your place just like that. Especially now and get "top dollar" for it. Only problem is everything else that's out there on the market is too costly & over-inflated now. So you don't get as much bang for your buck. You're probably actually getting a smaller place at this point.

But if you wait to sell ... you'll probably get less in the future (but be able to "buy more"). So can't really win.

For instance a friend of mine. She bought a nice (nothing too fancy) 1 bed, 1 bath condo for under 300k about 10 years back. She sold it in the first 1/4 of 2021 for $570,000. A nice profit - she's moving to a house with her fiance and they're looking to get married later this year. She didn't make any major modifications to the place either. Crazy, right? 570k for 690 sq. ft. She got into the market at the right time in that prices were starting too climb, but nothing too drastic then.

In my dad's neighborhood a developer has come by a few times looking to entice him & 2 neighboring houses to sell as a package deal. They're offering X amount. It's reasonable, but nothing great. My dad and them said - "Nah ... you have to come with a WAY better offer than that"

* They want to be offered amounts you'd be silly to turn down, especially in today's competitive market. 'Cuz they know the developer is probably gonna tear the places down and build 2 - 3 monstrosities in return. With them being 65 - 80yo ... they aren't too keen in making a major move at this point in their lives. Just doesn't interest them ... yet (?)
 

Mrfreddygoodbud

Rising Star
BGOL Investor









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I couldnt live there waaaay to open for me

aint nuthin wrong with dreamin LOL
buuuut to rent some shit like that for the summer..

Dopeness..
 
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