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Started By
Message
re: Housing: WTF?
Posted on 3/17/23 at 11:17 am to SaintsTiger
Posted on 3/17/23 at 11:17 am to SaintsTiger
quote:
Stop spreading misleading information.
The housing market hasn't crashed. I'm not the one spreading misleading info then having to come back and correct myself. I'm just as shocked as the original poster about the housing market. It's still going strong for the most part. Wishcasting for 4 years about a 'crash' (and being wrong) doesn't change anything. Telling us it will be a slow decline (duh) doesn't change anything. Yes, the housing market will eventually correct and level out but there isn't a poster on here who knows when that will happen. Could be next month could be next year could be 3 years. Predicting this and it taking 4 or 5 years to happen doesn't make you a sage.
2
Posted on 3/17/23 at 11:27 am to SlowFlowPro
Can’t tell who is better, you or el guacho?
Posted on 3/17/23 at 11:29 am to bayoudude
quote:
but realistically people shouldn’t be spending more than double their gross income on a home.
So the median American family should have a house budget capped at about 140k?
Lol ok.
Posted on 3/17/23 at 11:30 am to Hangit
quote:
My house has dropped $39k this year, according to Zillow.
In most areas Zillow’s estimates aren’t worth dick, as a real estate agent I shudder when I hear, “but Zillow said”. Unless you live in a completely homogenous area, those things are often grossly wrong.
Posted on 3/17/23 at 11:36 am to TJG210
Redfin is more accurate than Zillow?
Posted on 3/17/23 at 11:43 am to The Baker
quote:
Good luck sending those 2-3 kids to college.
529 is flush, bud. That's easy to capture, too.
Stop having $1,000 car payments.
Posted on 3/17/23 at 11:44 am to The Baker
quote:
quote:childcare
That was going to be my next rebuttal to this Narnia scenario.
Childcare is cheap when the wife stays home.
Posted on 3/17/23 at 11:44 am to JohnnyKilroy
quote:
So the median American family should have a house budget capped at about 140k? Lol ok.
It doesn’t seem like a bad rule for people in the 50% of income and lower, but seems a little restrictive for those in the top 25% (130k a year or more). Food, gasoline, health insurance, cars, cell phones, etc are basically the same for both families. Leaving the top 25% with much more “wiggle” room or discretionary spending.
I think a max for a top 25% is closer to 3 times gross income.
Posted on 3/17/23 at 12:03 pm to thegreatboudini
quote:I guess I’m hoping for better than LSU.
529 is flush, bud.
Posted on 3/17/23 at 12:05 pm to Lightning
quote:
Water ~ $200
Posted on 3/17/23 at 12:05 pm to thegreatboudini
quote:then you wouldn’t be making 200k gross in our little hypothetical scenario.
when the wife stays home.
Posted on 3/17/23 at 12:35 pm to The Baker
quote:
then you wouldn’t be making 200k gross in our little hypothetical scenario.
incomes are substantially higher outside of Louisiana.
And I would never let my kids get educated in Louisiana like I was. I agree, much better out there.
This post was edited on 3/17/23 at 12:36 pm
Posted on 3/17/23 at 12:48 pm to el Gaucho
quote:I've seen you driving on them, yes.
Bro have you seen the roads?
Posted on 3/17/23 at 1:01 pm to ronricks
Re-sale Market still strong in KC. I was let go from a large home builder in November. About 25 percent of company. They are still sitting with huge inventories in this market. However, I started with another company the following week specializing in more multi family homes. That business is booming out of sight. We can’t build them fast enough. I purchased a resale home last week after months of looking and getting outbid. I noticed that this house had been on the market for 30 days so I underbid the listing price and got it. Don’t know if that’s a sign of what’s going on out there, But I hadn’t seen it happen until this one.
Posted on 3/17/23 at 1:13 pm to ronricks
quote:
There simply isn't enough housing supply in this Country.
In my area there are 6x as many homes up for sale compared to a year ago. I go in and look at new listings with most being bought in the last 2 to 3 years.
People are buying and trying to flip for a profit. It's a game of chicken right now.
Posted on 3/17/23 at 1:22 pm to ronricks
Happening right now. Wake up and smell the coffee brother.
Barrons - need subscription
quote:
Home prices fell in February below year-ago levels for the first time since 2012, Redfin said Friday. The decline could offer a glimpse of what’s to come in closely watched existing-home sales data expected Tuesday. The median home in February sold for $386,721, Redfin said. The price is 1.2% below year-ago levels, the first monthly year-over-year decline since February 2012, according to the brokerage’s data.
Barrons - need subscription
Posted on 3/17/23 at 1:24 pm to BallsEleven
quote:
quote:
Water ~ $200
I love that gif Probably should have clarified that my water bill includes water, sewer, garbage and drainage costs.
Posted on 3/17/23 at 1:35 pm to Lightning
quote:
Probably should have clarified that my water bill includes water, sewer, garbage and drainage costs.
Or you just take a lot of baths
Posted on 3/17/23 at 1:36 pm to boogiewoogie1978
quote:
In my area there are 6x as many homes up for sale compared to a year ago. I go in and look at new listings with most being bought in the last 2 to 3 years. People are buying and trying to flip for a profit. It's a game of chicken right now.
Little Rock?
Posted on 3/17/23 at 2:06 pm to SaintsTiger
quote:
1.2%
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