So when’s the housing bubble bursting?
- Thread starter Dr. Truth
- Start date
SE Region still booming...
My boy lives in Nashville and I just went to visit about 3 weeks ago for work. Man I did not know the real estate market was going crazy there....My boy and some of the ladies I talked to who were at the work event all told me you ain't buying nothing under 600K close to downtown.....Even the Burbs are high....
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Damn near can't qualify for a condo or co-op with that salary.
Literally all those professions make over 100k other than teachers and brokers . Some cops here making over 200k with overtime. Nurses make mad money
There are always exceptions. She's talking about median salary nationally, which means it'll apply to a majority of people in those fields.
The median salary for a RN nationally is $77,600, for cops it's $67k, for plumbers $59k, for carpenters $58k.
I know alot of nurses in California all RN’s are making over 100k easy
Didn't realize there were 6 homes for sale on my street. This is a small subdivision and my street is only about the length of one and a half football fields. Never seen this many houses for sale at one time on my street.
There are 3 more on the market around the corner.
There are 3 more on the market around the corner.
They started putting two houses on properties that use to have just one house to maximize profits leaving people with tiny backyards and very little outside privacy
Right, but the houses are way more expensive too.
The median pay for an RN in San Francisco is about $130k, the salary needed to buy a house there now is $240k.
They started putting two houses on properties that use to have just one house to maximize profits leaving people with tiny backyards and very little outside privacy
Yeah - they've been buying up older blocks around the city looking to develop condos and such.
Or developers / builders looking to buy up a few houses to quickly knock them down and build monster homes. They've come around to my dad's area a few times asking him and the neighbors if they're looking to sell. Dad and them said - "Nah, come back in the future when you've got a real offer for us."
I.E. - make it worth our while ($$$$$) - they're looking to buy 4 homes and build 2 big ones.
Definitely a common practice in DC and the DMV area, but that is expected since land is limited. What got me is that shit has trickled down to the south and they are doing it in the Charlotte Metro area. Growing up, I never seen a townhome until I moved to DC...Townhomes don't exist because the south has so much land...Now them joints are popping up all over the Charlotte area....I said this earlier in this thread, but a builder told me builders can make more money putting up a town home in the same lot that is built for a single family home....They started putting two houses on properties that use to have just one house to maximize profits leaving people with tiny backyards and very little outside privacy
Depending on your take it could be a good or bad thing. Good for people who want to get a home, but the cost is cheaper. Bad - well can't really think of anything right now...LOL
Damn, he needs to write a letter to his congressman and both senators. That lawsuit could get nasty since so many properties might be affected.
I've never seen a city gentrify as fast as Nashville...not even Atlanta. Shit is crazy there. There is a million dollar home being built DIRECTLY ACROSS THE STREET from the projects.
One of these three things are going on. Niggas are coming, big tax reassessment, or your neighborhood has flooding issue.
nah.....there are only 3 black families on my street....including around the corner.
me and my fam is one.....then there is a black family across the street......and a black lesbian couple about 8 houses down.
Everyone else is elderly white people. there could never be any flooding over here because of the location we're in.
Every house sits 15ft above the golf course......so any heavy rains just sends the runoff to the golf course. then there is a creek that is about 10 feet deep that runs thru the middle of the golf course....and normally the water in there is only about 2ft high at any given day.
So this is basically a no flood zone we're in so its great.
My guess is.....these steady climbing interest rates are making it unaffordable for them to stay and they are getting foreclosed on. There has been quite a few estate sales going on over here this year.
I heard and was shocked as hell...Nashville is BOOMING! My boy said the people with money moved in closer to the city and started buying it up and now people with a regular 9-5 can't afford anything near downtown...
i felt the same about DC. once it starts, it comes fast! you'll look back in a few years and places wont even look the same.
Thats true. The pace in DC was insane too. I guess Nashville seemed faster because it was below the radar. Unless you lived there, you disnt see this coming.
yeah there is an area of south Dallas near the downtown Farmer's Market that used to be hella ghetto run down.
but investors started buying up properties and kicking out the tenants that lived there. Tore it down and built up some really nice condos.
At first there was one complex......now there is like 4 or 5 of these condos and they are starting to extend further from downtown into the hood areas.
Now the area that was pretty much 100% black.....is now less than 20% black.
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