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So when’s the housing bubble bursting?

DC_Dude

DC_Dude

Rising Star
BGOL Investor
moblack said:
Then how the fuck are most of young GOP gone buy houses? Especially with prices like now?



Sure don't !
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Look at the Report HUD will be putting out in the next few weeks. Your answers will be in there..Alot of minorities are having trouble even qualifying for FHA homes....

I don't know any young GOPs so no answer. If you are referring to young white kids, as a CFP told me once, they parents give them their first down payment - 20% so no need for a fHA loan
 
LordSinister

LordSinister

One Punch Mayne
Super Moderator
moblack said:
Anyone thought of pulling equity out of your home and buying a second home for a rental? I keep seeing my realtor friends talk about it. Is it really a viable option or is it them trying to drum up business? I know on BGOL its a ton of knowledgeable Brothers. Just trying to seek out the information.
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The interest rate is stopping me. I would need to put 20% down on an overvalued home and try and max out the rent. I just raised the rent on my house to $4300 and my Condo to $2350. We rolled the remaining part of our condo into our primary home so I'll be clearing close to 3K a month doing nothing. I'm cool.
 
M

moblack

Rising Star
BGOL Investor
DC_Dude said:
Look at the Report HUD will be putting out in the next few weeks. Your answers will be in there..Alot of minorities are having trouble even qualifying for FHA homes....

I don't know any young GOPs so no answer. If you are referring to young white kids, as a CFP told me once, they parents give them their first down payment - 20% so no need for a fHA loan
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I went to school with a ton of GOP votes who are in the 40 ish range and most of them don't have that kind of money. I'm talking stone cold Texas A&M Fighting Aggie and Baylor GOP votes. Add in what dudes have lost in divorce the cash flow ain't there for a lot of people.
 
M

moblack

Rising Star
BGOL Investor
LordSinister said:
The interest rate is stopping me. I would need to put 20% down on an overvalued home and try and max out the rent. I just raised the rent on my house to $4300 and my Condo to $2350. We rolled the remaining part of our condo into our primary home so I'll be clearing close to 3K a month doing nothing. I'm cool.
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The interest rate is what is stopping me as well. My buddy who is a realtor is like "don't let the interest rate scare you. You can refinance a year later. You'll be cash flow positive from the renter and also building equity on a wealth building rental" My thing is that sounds good and all but he doesn't know if rates will go down. I feel like realtors like that are pushing that narrative to build sales for themselves.
 
DC_Dude

DC_Dude

Rising Star
BGOL Investor
moblack said:
I went to school with a ton of GOP votes who are in the 40 ish range and most of them don't have that kind of money. I'm talking stone cold Texas A&M Fighting Aggie and Baylor GOP votes. Add in what dudes have lost in divorce the cash flow ain't there for a lot of people.
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Well those motherfuckers want qualify either for FHA loans, but I am not concerned with them...I am only concerned about how the future could affect black folks from buying........GOP trying to take everything.....
 
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Peacemaker213

Peacemaker213

Rising Star
Registered
LordSinister said:
Look at all of these people that believed BGOL investors that said a home was a bad investment. :lol: :lol: :lol: :lol:
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Funny you should say that. Back in the day I use to get in big debates with one of my boys in the DMV. He swore owning a home was a dumb idea and that folks who were buying were stupid. Dude was paying $2400 a month in rent at the time and that didn't include parking. The area was really nice but he could have bought in the same general area. Kept telling him he could own a nice place for what he was paying but he believed the hype. Also told him eventually he might have a seed and he could pass it down to them and he didn't have to worry about people coming into his home to fix things while he was away (nosey ass maintenance people). Anyway, now his rent is up more than 50% from that time and dude is hating life. He finally admitted he fucked up big time because now the places that were going for 400k+ are starting at 700k+/800k+. Amazon moving in did wonders for that area.
 
DC_Dude

DC_Dude

Rising Star
BGOL Investor
Peacemaker213 said:
Funny you should say that. Back in the day I use to get in big debates with one of my boys in the DMV. He swore owning a home was a dumb idea and that folks who were buying were stupid. Dude was paying $2400 a month in rent at the time and that didn't include parking. The area was really nice but he could have bought in the same general area. Kept telling him he could own a nice place for what he was paying but he believed the hype. Also told him eventually he might have a seed and he could pass it down to them and he didn't have to worry about people coming into his home to fix things while he was away (nosey ass maintenance people). Anyway, now his rent is up more than 50% from that time and dude is hating life. He finally admitted he fucked up big time because now the places that were going for 400k+ are starting at 700k+/800k+. Amazon moving in did wonders for that area.
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BRO!!!!!!

The DC area saw one of the biggest jumps between 1999 -2019. The median home went from 130K to 750k.

My realtor who works out of Charlotte bought a home on GA ave like in the early 2000s and he flipped. Probably made like 100K. He said that same house is worth over 800K now and when he gets alerts about the house to phone, he just looks down in shame....
 
LordSinister

LordSinister

One Punch Mayne
Super Moderator
Peacemaker213 said:
Funny you should say that. Back in the day I use to get in big debates with one of my boys in the DMV. He swore owning a home was a dumb idea and that folks who were buying were stupid. Dude was paying $2400 a month in rent at the time and that didn't include parking. The area was really nice but he could have bought in the same general area. Kept telling him he could own a nice place for what he was paying but he believed the hype. Also told him eventually he might have a seed and he could pass it down to them and he didn't have to worry about people coming into his home to fix things while he was away (nosey ass maintenance people). Anyway, now his rent is up more than 50% from that time and dude is hating life. He finally admitted he fucked up big time because now the places that were going for 400k+ are starting at 700k+/800k+. Amazon moving in did wonders for that area.
Click to expand...
DC_Dude said:
BRO!!!!!!

The DC area saw one of the biggest jumps between 1999 -2019. The median home went from 130K to 750k.

My realtor who works out of Charlotte bought a home on GA ave like in the early 2000s and he flipped. Probably made like 100K. He said that same house is worth over 800K now and when he gets alerts about the house to phone, he just looks down in shame....
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This all day. You need a place to live, point blank period. If these dudes would have purchased back in the day, they would be sitting pretty.

So much disinformation out here that is really detrimental to black folks it's just sad. My boy who's around my age is still living with his moms, and sending me conspiracy theory tiktoks. :smh: :smh:
 
blackbull1970

blackbull1970

The Black Bastard
Platinum Member
This area is predominantly Black/Non-White.

Residents In North Las Vegas Neighborhood Staying Put

LAS VEGAS, Nev. (FOX5) - Windsor Park, a neighborhood in North Las Vegas, is slowly sinking into the ground.

In the early 1990s, a study found the neighborhood, which was built between 1964 and 1966, was built on the juncture of two or more subsidence-related fault escarpments. Put simply, it means the ground is unstable and is sinking.

In 1994, the U.S. Department of Housing and Urban Development gave the City of North Las Vegas millions of dollars to help people move somewhere safer. More than half the residents took the city up on the offer, but those who’ve stayed are committed to their homes.

​
 
praetor

praetor

Rising Star
OG Investor
Amid a dearth of reasonably priced housing, at least 90% of city employees live outside Naples. Job vacancies are going unfilled, leading to chronic staffing shortages. The shortfall among firefighters, police officers and other essential workers in Collier County, which includes Naples, verges on unsafe, according to one local advocate. Private-sector employers have converted a hotel into apartments for workers as a temporary fix.

The amount of overtime that emergency workers are putting in “borders on unsafe,” Trachtenberg says. “If we can’t hire police, if we can’t hire firemen and EMTs, that’s going to ultimately have an impact."

 
DC_Dude

DC_Dude

Rising Star
BGOL Investor
tebriel69 said:
I finally just became a 1st time homeowner a couple weeks ago. It ain’t easy but it’s a damn good feeling to own. I hope our people do they research and never stop preparing and planning. As always, props to the board. Between this place and other resources I was able to get shit done.
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Congratulations big Dawg! I’ll take a shot for you. This is a major milestone!
What area did you buy your home?
 
Helico-pterFunk

Helico-pterFunk

Rising Star
BGOL Legend
bc.ctvnews.ca

B.C. facing a shortage of strata property managers, industry reps say

British Columbia is facing a shortage of strata property managers, according to those who work in the sector.
bc.ctvnews.ca bc.ctvnews.ca


www.ctvnews.ca

What are the predictions for Canada's real estate market this spring?

The Canadian real estate market has been sluggish since last year, when prospective buyers started putting off plans to purchase homes as the Bank of Canada aggressively hiked interest rates eight consecutive times. But realtors see many edging toward a purchase once more.
www.ctvnews.ca www.ctvnews.ca
 

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