So when’s the housing bubble bursting?
- Thread starter Dr. Truth
- Start date
Hold off and buy later. The market always corrects itself
Northern California Growing Into ‘Mega Region’ As People Are Moving From The Bay Area To Sacramento
Working from home means you can change where home is. Massive migration in Northern California has affected home prices, politics and more.
Working from home means you can change where home is. Massive migration in Northern California has affected home prices, politics and more.
Sacramento ain’t really cheap anymore and it’s a crime infested gangland shithole with Bloods and Crips and Mexican gangs everywhere.
Man, wifey and I was ready to go see a house and the sellers pulled it off the market during the “coming soon” phase because someone made a crazy unseen offer.
I don’t think we have much of a chance out here. At least it feels that way.
I don’t think we have much of a chance out here. At least it feels that way.
Actually, the time to buy will be here before you know it with lower prices. People will start foreclosing because they bought out of their range and houses will s l o w l y start to be plentiful again. One drawback is, much higher mortgage rates because the feds are jacking interest rates up to curb some of this runaway inflation.
Actually, the time to buy will be here before you know it with lower prices. People will start foreclosing because they bought out of their range and houses will s l o w l y start to be plentiful again. One drawback is, much higher mortgage rates because the feds are jacking interest rates up to curb some of this runaway inflation.
Yeah, right now it seems like credit don’t even matter. Folks are swooping in with cash. Loan don’t mean shit to people with cash in hand. And if the seller wants the bread, then I’m out of competition.
We’ll see…
But it’s definitely discouraging. Until shit changes, I’m going to pay my debt down.
This depends on location. Places with long money like NY, California etc are not going to have these problems. Unlike 2008 you have to verify income. Like a deep dive. You not getting a large loan like before unless income can be verified. We had to come with mad proof of income when we purchased in fall of 2020 for our second property.Actually, the time to buy will be here before you know it with lower prices. People will start foreclosing because they bought out of their range and houses will s l o w l y start to be plentiful again. One drawback is, much higher mortgage rates because the feds are jacking interest rates up to curb some of this runaway inflation.
the market can remain irrational...longer than you can remain financially solvent...
I tell all my friends.
Debt is the modern day slavery. White and blacks are now slaves. Just because we as blacks can afford to flaunt a few shiny trinkets here and there we like to feel like we made it.
Homelessness In Florida Becoming A Middle Class Problem
Why do you think there will be foreclosures.
The last time that happened was because people were doing adjustable mortgages with ballon payment clauses.
That isn't happening anymore. The mortgage is fixed. So if the note is 1500/mo. They knew it going on and it aint gonna change.
Therefore they should be good with it.
The last time that happened was because people were doing adjustable mortgages with ballon payment clauses.
That isn't happening anymore. The mortgage is fixed. So if the note is 1500/mo. They knew it going on and it aint gonna change.
Therefore they should be good with it.
Actually, the time to buy will be here before you know it with lower prices. People will start foreclosing because they bought out of their range and houses will s l o w l y start to be plentiful again. One drawback is, much higher mortgage rates because the feds are jacking interest rates up to curb some of this runaway inflation.
Sounds like a good place for people to move to and gentrify. Miami was 70% shit hole, now you cant find a strong hood almost anywhere
Unless you want the US to go back to the gold standard, this will continue happen. Problem is that there’s so much money out there looking for any kind of return, there are not to many places to safety park the money, so many investors are looking at real estate as a safe place to park all that money.
You are kidding right? If I was looking for my first home, I would jump on this in a heart beat.
241 S Prentiss St, Jackson, MS 39203 | Zillow
Zestimate® Home Value: $98,300. 241 S Prentiss St, Jackson, MS is a single family home that contains 1,138 sq ft and was built in 2004. It contains 3 bedrooms and 2 bathrooms. The Zestimate for this house is $98,300, which has decreased by $3,060 in the last 30 days. The Rent Zestimate for...
www.zillow.com
How Sacramento and the Bay Area are becoming a mega-region
Working from home means you can change where home is. Massive migration in Northern California has impacted housing prices, politics and more in the Sacramento area.
Working from home means you can change where home is. Massive migration in Northern California has impacted housing prices, politics and more in the Sacramento area.
Today is tomorrow if u catch my drift…brah
uhoohh, what's this?
You are kidding right? If I was looking for my first home, I would jump on this in a heart beat.
241 S Prentiss St, Jackson, MS 39203 | Zillow
Zestimate® Home Value: $98,300. 241 S Prentiss St, Jackson, MS is a single family home that contains 1,138 sq ft and was built in 2004. It contains 3 bedrooms and 2 bathrooms. The Zestimate for this house is $98,300, which has decreased by $3,060 in the last 30 days. The Rent Zestimate for...
I may be wrong but I think that’s the hood. Nothing a few ARs, cameras, moat, war dogs couldn’t fix.
That shit grills on the windows and doors. That should tell you enoughYou are kidding right? If I was looking for my first home, I would jump on this in a heart beat.
241 S Prentiss St, Jackson, MS 39203 | Zillow
Zestimate® Home Value: $98,300. 241 S Prentiss St, Jackson, MS is a single family home that contains 1,138 sq ft and was built in 2004. It contains 3 bedrooms and 2 bathrooms. The Zestimate for this house is $98,300, which has decreased by $3,060 in the last 30 days. The Rent Zestimate for...
Hey in nyc.. thats all you see on brownstones..
Exactly. It's all about perspective.
The financial part of me looks at it like this:
I buy this home. I go hard on the payments during the first two to three years to achieve at least 50% equity in the home. I then look for a $200K - $250K home. Sell your home, guaranteeing a net of at least $50K. Put down the $50K, which will be 25% to 20% of the total which enables you to forego PMI and now your mortgage is is close to the payment you were paying for the $100K home. Rinse and repeat in a few years with a $300K home. You could even consider keeping the $100K home and just leveraging the equity to buy the second home while renting the original home.
You have to think about the long game brother. The start will always be less than optimal. But, staying the course will yield positive results.
I feel what you are saying, you have to be able to see the big picture and not be stagnant..
but bruh thats a lot of paper signing bruh.. Id have to buy a signature stamp bruh.
I have to love the home I buy.. so If Im stuck with it, I wont have a problem with that..
Real Estate is a good place to store your cash...
Holy shit
You know what just hit me bruh... bruh
In order for blackstone to WIN with all the real estate they are
buying up at our expense..
they would NEED the dollar to damn near DIE... in
fact they are COUNTING ON IT...
BUUUUUUUUUT if that dollar stays strong too long,
And folks find peace and happiness where they are at
THEY ARE STUCKED AND FUCKED with over priced
property...
and I think they are fucked.. they based their moves
on the crazy amount of home searches folks do
on zillow.. but that was a misread..
most folks on zillow aint looking to buy, they just
like browsing through the homes and fantasizing...
and that was going on real strong during the pandemic
and everybody was getting that money and ppp loans...
so when they were DATA MINING us like they fucking
always do, they saw the search for homes on
the internet sky rocket, especially ZILLOW....
People for the most part aint stupid, they know
unless its a certain market thats poppin,
now is not the time to buy...
I remember talking to a well respected CFP about this regarding homes in DC. I was like how are people able to buy a house that costs over 1 million...He simply said the above blue print....Rinse and repeat...Don't re-invent the wheel...
Well I would have to be employed to in Jackson to take advantage of that for one. I'm not trying to pay rent or a mortgage for two places. Secondly I don't know if I would live in that zip code.You are kidding right? If I was looking for my first home, I would jump on this in a heart beat.
241 S Prentiss St, Jackson, MS 39203 | Zillow
Zestimate® Home Value: $98,300. 241 S Prentiss St, Jackson, MS is a single family home that contains 1,138 sq ft and was built in 2004. It contains 3 bedrooms and 2 bathrooms. The Zestimate for this house is $98,300, which has decreased by $3,060 in the last 30 days. The Rent Zestimate for...