So when’s the housing bubble bursting?

Helico-pterFunk

Rising Star
BGOL Legend
Just filled this out yesterday morning ... they had mailed it out this week.





 

sinsay

Rising Star
BGOL Investor
How dumb are people who jump to a large mortgage payment with a variable rate? What did they think was going to happen?

I saw that and my first thought was why would anyone ever do a variable rate mortgage? Other than if you are an investor looking to flip asap?
 

blackbull1970

The Black Bastard
Platinum Member
Walking In Dense Buildings
Largest Residential Area In Asia
Huaguoyuan, Guiyang

Starting to look like a real Coruscant from “Star Wars”.


 

Dr. Truth

보지를 먹어라
BGOL Investor
people want to live in cali for a reason
and are willing to pay the high prices



What is it that people don’t understand about this? Life is more than a gigantic ass house in a shitty location. I’m not living in a red state with shit weather. California has multiple climates all within 3 hour drive. Want the best skiing. Go to Tahoe , want cool weather in summer go to the coast, want a desert go inland , want beaches go to the coast. Mountains , lakes , etc. major cities , sports , things to do. Food. There’s no comparison . You know how many people from here fled to Texas and regret it?!? Tons . People just moving to places they have no idea about just because the houses are bigger. It’s dumb. Massive Culture shock going from California or NY to some racist run state like Texas or Florida
 

praetor

Rising Star
OG Investor
people want to live in cali for a reason
and are willing to pay the high prices



What is it that people don’t understand about this? Life is more than a gigantic ass house in a shitty location. I’m not living in a red state with shit weather. California has multiple climates all within 3 hour drive. Want the best skiing. Go to Tahoe , want cool weather in summer go to the coast, want a desert go inland , want beaches go to the coast. Mountains , lakes , etc. major cities , sports , things to do. Food. There’s no comparison . You know how many people from here fled to Texas and regret it?!? Tons . People just moving to places they have no idea about just because the houses are bigger. It’s dumb. Massive Culture shock going from California or NY to some racist run state like Texas or Florida

I think the larger point is affordability. If that's the difference between what $2M gets you, what'll be the difference between what $300k gets you?

The median income in SF is roughly twice that of Houston (the same goes for minimum wage) while the average home price in SF is four times that of Houston. And then you have state tax on top of that.

When someone has to work FIVE minimum wage jobs just to be able to afford a two bedroom apartment, the proximity to nice things ceases to be important. Especially when that adds up to 196 hours a week, and an entire week only has 168.

From 2021



 

Dr. Truth

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BGOL Investor
I think the larger point is affordability. If that's the difference between what $2M gets you, what'll be the difference between what $300k gets you?

The median income in SF is roughly twice that of Houston (the same goes for minimum wage) while the average home price in SF is four times that of Houston. And then you have state tax on top of that.

When someone has to work FIVE minimum wage jobs just to be able to afford a two bedroom apartment, the proximity to nice things ceases to be important. Especially when that adds up to 196 hours a week, and an entire week only has 168.

From 2021




If you’re struggling you can move outside of SF . People keep acting like that’s the only city around here . Move inland and pay texas prices. SF is the Manhattan of the Bay Area. Not everybody has to live in midtown
 

Dr. Truth

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BGOL Investor

Even if they gave up 100% average house in SF is a million dollars still after the gains. During the pandemic SF houses were averaging 1.8 million. Ain’t nobody but rich people buying houses in the city. That’s the Bay Area Manhattan.
 
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