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Posted on 9/30/23 at 4:20 pm to Street Hawk
An article that stupid must have been written by a millennial.
Posted on 9/30/23 at 4:31 pm to Trevaylin
quote:There's no chance you actually got appraised 50% higher. The appraisals are always absurdly low - and, at the very least - lag.
so the value on my house went up 53 percent, which is unrealized gain till I sell 20 years from now
But your point is taken. There's no completely free lunch. Your concerns are rational - you've just left several things out.
And depending on the actual numbers, you might get to itemize and effectively pay a lot less than that.
You also have a larger, financeable asset on your balance sheet.
Posted on 9/30/23 at 5:51 pm to Big Scrub TX
Hey chief ,,,,,,53 % is the number quoted by the guy that started this thread!!!
Itemize what???not the insurance. The property taxes? with the current federal income tax program, I would need to lose a lot more bucks to qualify as a deduction.
Liquidity right now is far more important than a larger asset. And if you want to take out a mortgage at todays rates to pay insurance and taxes, go ahead and do it.
Itemize what???not the insurance. The property taxes? with the current federal income tax program, I would need to lose a lot more bucks to qualify as a deduction.
Liquidity right now is far more important than a larger asset. And if you want to take out a mortgage at todays rates to pay insurance and taxes, go ahead and do it.
Posted on 9/30/23 at 6:41 pm to Street Hawk
It’s called golden handcuffs.
And it’s not a good thing, economically speaking.
And it’s not a good thing, economically speaking.
Posted on 9/30/23 at 6:47 pm to Trevaylin
quote:Yes, that's HPA - not tax assessments. As I stated, tax assessments usually lag AND stay below max home values.
Hey chief ,,,,,,53 % is the number quoted by the guy that started this thread!!!
quote:Yes, the property taxes.
Itemize what???not the insurance. The property taxes? with the current federal income tax program, I would need to lose a lot more bucks to qualify as a deduction.
quote:You've missed the point. Let's say you had a $300K house that went to $450K. If the markets fall apart or you get shown the deal of a lifetime or whatever, you can borrow on a HELOC to invest in that. etc.
Liquidity right now is far more important than a larger asset. And if you want to take out a mortgage at todays rates to pay insurance and taxes, go ahead and do it.
I love this thread though - house prices up a lot, people still mad at politicians. Houses go down slightly - people still mad at politicians.
Posted on 9/30/23 at 7:13 pm to Big Scrub TX
love this thread......its .just the difference in flippers and holders
Posted on 9/30/23 at 8:16 pm to Powerman
quote:Or not.
And there will be a very sharp correction
Posted on 9/30/23 at 8:19 pm to Street Hawk
quote:
US homeowners who are downsizing are "lucky," Skylar Olsen, Zillow's chief economist, told MarketWatch.
Yeah, no.
Getting big money for the current house is good but you pay more for something smaller or in a worse area if you are staying in the same region.
Posted on 9/30/23 at 9:20 pm to Street Hawk
Can someone burn down my old house before I renovate it?
Posted on 9/30/23 at 10:21 pm to Jcorye1
quote:
Trump spent money like nobody's business as well. Stop arguing sides, argue against government intrusion and taxes.
Trump ms not attacking our energy. Trump isn’t sending billions to Ukraine. Trumps tax cuts actually meant I paid less in taxes.
How bout stop voting for the brain dead democrats that literally fricking hate you.
Posted on 9/30/23 at 11:08 pm to 632627
California has a myriad of issues but it would be hard to leave.
Posted on 10/1/23 at 7:35 am to Street Hawk
quote:
The median price of an existing home in the US rose nearly 53% from $266,300 in January 2020 to $407,100 in August 2023
Honest question, what does someone need to make to swing a 410k home? I got divorced last year and ended up selling her my house at a discount due to my lawyer telling me that I would end up having to pay her about 60k cash if I didn’t take that deal.
I make good money, especially for my area. I just don’t understand what people are making to pay for all the 350k houses around me. Are people just that indebted or am I naive on what people actually make money-wise?
Posted on 10/1/23 at 7:38 am to soccerfüt
quote:quote:
And there will be a very sharp correction
Or not.
in the past 1 1/2 years of the Fed's hiking cycle, there has been a guise being sold to the average person that rates will be lower in the future. meaning that 1) sellers think they can keep prices high as if we're still in a low interest debt cycle 2) new homebuyers believe they'll be able to refi.
just wait until the market comes to grips with the fact that rates are going to be higher for the next 5-10 years and potentially even further out to 30 years. there is no doubt home prices are correcting because the market is currently disjointed with reality. new homebuyers better believe they are in their forever home because they will be underwater.
Posted on 10/1/23 at 7:39 am to JimMorrison
quote:
just wait until the market comes to grips with the fact that rates are going to be higher for the next 5-10 years and potentially even further out to 30 years. there is no doubt home prices are correcting because the market is currently disjointed with reality. new homebuyers better believe they are in their forever home because they will be underwater.
Posted on 10/1/23 at 7:55 am to SDVTiger
that response is perfect and encapsulates the average person's thinking.
"home prices going down after surging these past few years is impossible!!!"
don't take it from me. take it from an expert on interest rates where he speaks on the long term cycle. LINK.
people don't realize it because they've been conditioned for the past 15 years of low rates. we're heading to a higher long term rate cycle just as we did from the 1960s to 1980s. anyone remember stagflation and the 70s?
"home prices going down after surging these past few years is impossible!!!"
don't take it from me. take it from an expert on interest rates where he speaks on the long term cycle. LINK.
people don't realize it because they've been conditioned for the past 15 years of low rates. we're heading to a higher long term rate cycle just as we did from the 1960s to 1980s. anyone remember stagflation and the 70s?
Posted on 10/1/23 at 7:55 am to SDVTiger
Section 8 housing developments is kicking arse though. See it everywhere
Posted on 10/1/23 at 8:02 am to JimMorrison
quote:
home prices going down after surging these past few years is impossible!!!"
That was never said. Im laughing at what you posted
Rates will be high for 30yrs? How high?
That dork you posted from CNBC, which of course has Diana Olick who has said the past 20yrs dont buy houses they wont go up in value, isnt anyone to take advice from
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