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Started By
Message
re: Fannie Mae Downgrades Housing, Origination Forecast
Posted on 6/2/22 at 8:22 am to cable
Posted on 6/2/22 at 8:22 am to cable
quote:
Quit trying to live in trendy areas.
Trendy areas aren’t the issue. In my area, it’s that most new development is duplexes and then whole neighborhoods become rentals.
Then the market has made it to where a DR Horton 1200 sq foot cookie cutter house was $100-$150k 10 years ago for a new home buyer. Those houses are now $250k and out of the range.
There is a house in my neighborhood that is on the edge of the historic district that’s 1000 sq feet and was bought for $60k in 2005. They just sold it for $150k in complete disarray. Total dump.
This post was edited on 6/2/22 at 8:25 am
1
Posted on 6/2/22 at 8:30 am to 3nOut
quote:
There is a house in my neighborhood that is on the edge of the historic district that’s 1000 sq feet and was bought for $60k in 2005. They just sold it for $150k in complete disarray.
Yep.
Similar story for a house up the road from us that we looked at when we were buying in '21. 3 bedroom, 1 bath (was our big deterrent, we wanted 2 but considered building one in if needed). Attached garage. Decent plot of land. Once we got inside it had never been updated so we would've had to do a full remodel. I'm talking shag carpet, wood paneling, wallpaper border, etc.
It just sold the other day, as is, for over $300k. And the average household income in Louisville is like $54k. This can't sustain itself.
This post was edited on 6/2/22 at 8:31 am
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