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re: Every time I passed on a real estate purchase because the price was too high...
Posted on 10/12/23 at 11:19 am to GetCocky11
Posted on 10/12/23 at 11:19 am to GetCocky11
quote:
For me, it is a simple matter of monthly budgeting for what I would be getting. There's also still a mental shock when looking at prices. The cheapest livable homes I see around me are around $375,000. These houses were more like $275,000 just 2 years ago.
It’s a shitty reality for those who didn’t buy a few years ago, but what you can afford is what you can afford. It’s unlikely to get much better going forward. Do you think those houses that are 375k are going to magically drop back down to 275k?
3
Posted on 10/12/23 at 11:31 am to Epic Cajun
quote:
but what you can afford is what you can afford. It’s unlikely to get much better going forward. Do you think those houses that are 375k are going to magically drop back down to 275k?
I'm not going to buy a house just to buy a house. There's other ways to make money in this high-interest environment.
This post was edited on 10/12/23 at 11:32 am
Posted on 10/12/23 at 12:05 pm to Epic Cajun
quote:
Do you think those houses that are 375k are going to magically drop back down to 275k?
Not magically. But if people aren't buying houses, prices come down. It is simply supply and demand.
I am surprised prices haven't already dropped by noticeable amounts. Perhaps they never will. But it still seems silly to pretend it unreasonable that prices could come down in the next yr or two.
Posted on 10/12/23 at 2:06 pm to Epic Cajun
quote:
It’s a shitty reality for those who didn’t buy a few years ago, but what you can afford is what you can afford. It’s unlikely to get much better going forward. Do you think those houses that are 375k are going to magically drop back down to 275k?
People actually think this and it's comical.
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