So when’s the housing bubble bursting?
- Thread starter Dr. Truth
- Start date
It’s definitely bad in Charlotte. So plan ahead. Even if you trying to get an apartment.
4000 sq ft house for 1 person? thats so mindboggling to me like it'd be just a big waste and a ton of upkeep, I only see houses that size being reasonable for rich dudes that got their entourage living with them or for someone trying to house hack and rent out rooms and shit
How you do that?
My new home is 6k sq ft including basement, with 3 people in it. All bedrooms are en-suite. I won’t have it any other way. There are ways to do this. You build a very efficient home by using the right materials and equipment. My heating bill is only $150/mo. Electric bill is $200/mo in the summer. The only thing that is high is landscaping maintenance.
My insurance premium is half of the rate on my old home even though the new home is worth 5 times more.
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Yeah man that's what I am hearing....Targeting the South Charlotte area so I am preparing the wifey and myself...Got to get the hell out of DC though LOL
Prices for houses around here pre-pandemic was crazy....
Ask your loan officer to give you a heloc. It acts as a 2nd mortgage.
I need to pay down my mortgage more before I qualify . We only put 10% down so in order to qualify we need to pay off another 70k or something.
You Might not need to do all that. Ask them to be sure.
Bought a house back in October 2002 130000 put it on the market last November 225000 I thought my realtor was a fool and the house was going to sit. Received 2 offers one for 240000 and accepted an offer 30000 over asking in one day 255000. We knocked off 4000 for repairs got 251000 when I would've taken 180000 for that hoe.
Word.
im in a 1300 sq ft alone and sometimes its overwhelming. Not complaining, just wanted other perspective.
yeah 1300 sq ft is a lot for a single person, only time i even seen that being well used are for creative types with a live/work loft that size where they divide that sq footage up well and its all being used
How does a 2500 sq ft house feel small with 3 people basically two with a baby. What state you in? 2500 sq ft here will run you in the millions.
I’m in Vegas
With a wife and a kid, it feels like they have taken over the house . Trust me it feels small (at least until I get the cleaning bill)
I need extra space for an office and home gym
like jagu said ideally I would like >3k sq feet.
That’s crazy to me. I guess because I grew up in Jersey and NYC and now in California. Space is limited and giant houses are not normal. Our main house is 2300 sq ft and feels enormous. There’s four of us . Our other house is 1250 sq ft and we also feel comfortable in there too.
Lol that funny
Cause I grew up in the uk
Where our houses are fucking shoe boxes.
I don’t know. I’m thankful for what I have but I really do feel cramped.
Need something the size the guys in Atlanta and Houston have
Interesting
My gawd there’s no way I can do anything that small. I like to move around a house and I like large master suites and open kitchen plans.
It’s easy and open kitchens are easy in that space .
I don’t mean to sound dismissive but I can’t do it man. My master suite is bigger than that house.
On the other hand I’m in Miami today shopping for a condo and I’m looking at 1600 sq Ft condos for $675k. I’m cool with that sizebecause it’ll a vacation home that I’ll rent out 6 months a year and the view will be awesome.
No doubt, Miami is risky though because they will get flooded eventually. Shit it’s already starting. Also a lot of shoddy cheap construction there . I expect more apartments to collapse as the ground starts to erode.
Well damn. I found something that I liked in Biscayne and I’ll make an offer tomorrow. If they don’t take it, I’ll stick with a house in Ft Lauderdale.
Check this out
As Miami Keeps Building, Rising Seas Deepen Its Social Divide
Ignoring sea level rise and intensifying flooding, Miami has continued to build luxury real estate near the water at a rapid pace. But as developers eye higher ground, communities of color will likely bear the heaviest burden from the changes wrought by climate change.
e360.yale.edu
Yeah, times have changed. I grew up in a 1300 sqft home in a family of four and never felt cramped growing up. One of the most memorable homes I had been in as a kid was a 3k square ft house and I thought it was a mansion at the time. Now 3k square ft is too small for my family of 5. When it comes to comfort, 5k square feet seems to be ideal. I'm curious if having a home that big creates distance in the family though.
Housing prices are now back to where they were right before the pandemic.
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In another housing thread, you have a different rate
That's his other house
I have two houses bitch
Good formula and to add on from my experience, If you can find a local owner/developer/builder that is willing to sell to you by becoming the bank and backing your loan with them you can pull off your second investment home by using the rent/own method, this helps with bypassing the huge hurdle of buying a second property using traditional banks.
Yeah, we are seeing a shift in my area.
Prices are being reduced. Houses are coming back on the market. That 5% mortgage rate is starting to show.
I put in an offer today
Houses are coming down because interest rates are going back up. At the end of the day, it’s the same shit.