Imma gonna pass. Lol
If houses are like this I got a gently used hipoint I’ll let go for $1000.
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Anybody looking for a house in Monroe County? (Both under contract)
- Thread starter Just1more
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Imma gonna pass. Lol
If houses are like this I got a gently used hipoint I’ll let go for $1000.
the housing market is about to **** its pants hard over the next two years
housing prices will pull back about 20-40%
NEVER be a buyer during a sellers market
housing prices will pull back about 20-40%
NEVER be a buyer during a sellers market
Once housing prices drop, interest rates will go through the roof. In the end, it’s a trade off. Payments won’t be that much different. (Unless you are a cash buyer of course)
so, pay 30-40% more so you can get a better rate over 30 years? that sounds like the kind of math the social security admin uses to delve out payments (dont worry, it will be there when you need it)
naw, this is not a repeat of 08 dude and the old adages will be proven false (we are in uncharted territory).
holding cash kinda sucks too, as an investor you literally have no where to go. of course this housing crash would be fantastic, as its not a crash but a true correction. too much money and not enough stuff
so i disagree, the housing prices we see right now are a direct result of artificial demand driven by the printing of trillions of dollars from the past 2 years (crypto and the stock market is no different in that regard). house prices need to fall back in line with the CPI and rental rates-
I never said what was driving the prices up. I merely made the statement that you could buy now or wait until prices drop. But when prices drop, rates go up, so you haven’t really saved any money. There are lots of people looking at specific areas where there aren’t that many houses available. Waiting in those cases my have you looking for a long time as they get snatched up quick.
over paying on something even with better rates is still over paying, even in the long run
the loan calculators and the real estate gospel that promotes this is simply untrue
if you’re a cash buyer - which a lot of the current buyers are - you’re fine. You don’t have to worry about negative equity or getting upside down.
Yes, we may think some are overpaying because we’re not used to seeing these prices. But the 4 BR / 3 BA they just dropped 600k on is a steal compared to the 2/1 they just sold for $700k in CA to move here.
To borrow a phrase from
palmettomoon
: Don’t Be A PoorI almost **** a brick when we bought our current home 5 years ago. I thought we were getting over our heads with home prices back then. Turns out it was the best thing we could have done. Nice decent sized home (though with a ****ty yard) that’s relatively new in a good neighborhood.
if you are buying to live in i suppose but borrowing or leveraging at the height of the market is silly. and why would one buy at 30% over value compared to a few years back? 5 years is nothing in a market my friend, especially considering the average mortgage lifespan in 30 (look at a 20-30 year chart on a slope)if you’re a cash buyer - which a lot of the current buyers are - you’re fine. You don’t have to worry about negative equity or getting upside down.
Yes, we may think some are overpaying because we’re not used to seeing these prices. But the 4 BR / 3 BA they just dropped 600k on is a steal compared to the 2/1 they just sold for $700k in CA to move here.
To borrow a phrase from
I almost **** a brick when we bought our current home 5 years ago. I thought we were getting over our heads with home prices back then. Turns out it was the best thing we could have done. Nice decent sized home (though with a ****ty yard) that’s relatively new in a good neighborhood.
and as far as holding cash goes, this wont be an 08 style correction because everyone is anticipating it. you have to ignore the price of the house in USD and compare it to real world goods and their price. this will be a slow death spiral. i was speaking to a couple i know a few weeks back, they were astonished their home could increase by 100K in just a few years.....i have to remind people, easy come and easy go
i am very bearish on damn near everything at this point
I've invested $30k in my back yard alone over the last 4 years. I've been working on ridding my yard of poison ivy, fire ants, carpenter ants, carpenter bees, scorpions, centipedes, etc.. My house is an ok at best 90's x-rental home we've been "updating" since purchasing in the hopes of selling for a profit someday and are at the it just needs new paint stage and a few small details to be finished. My back yard is my selling point, at night time is illuminated with string lights wrapping most of the tree trunks, shrubs and other yard art items including the new deck all the way up to the pool. My yard has a warm glow at night with the solars and when I light the tiki torches its like someone flipped on a switch. It has more than doubled in value since we purchased it 7 years ago
Didn’t mean to spark a debate. Just couldn’t imagine spending that kind of coin on a double wide.
