- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
1
Posted on 3/4/23 at 10:37 pm to lynxcat
okay. Pay attention to the market instead of this guy bullying people.
Posted on 3/5/23 at 9:43 am to REB BEER
quote:
with the cost of insurance
My total mortgage payment has gone up nearly 24% in the last few years due to insurance increases. Fortunately, I didn't over extend myself with this house, but I don't know how the average person/family is keeping their heads above water.
Posted on 3/5/23 at 12:52 pm to Joshjrn
quote:
I don't know how the average person/family is keeping their heads above water.
We're looking to move to a more family friendly place in early 24 and I'm struggling to understand how we make it work. With us being a single income household, property taxes in TX, insurance, interest rates, and these astronomical prices I live in a world of anxiety.
Posted on 3/5/23 at 12:57 pm to Joshjrn
quote:
mortgage payment has gone up nearly 24% in the last few years due to insurance increases.
Property taxes, HOA fees/assessments, and insurance costs are the unpredicted variables that seem to hit hardest.
Having lived under what I considered a poorly run HOA I'm not sure if I would buy another property with that bureaucratic power over my home
Posted on 3/5/23 at 2:26 pm to thegreatboudini
quote:
We're looking to move to a more family friendly place in early 24 and I'm struggling to understand how we make it work. With us being a single income household, property taxes in TX, insurance, interest rates, and these astronomical prices I live in a world of anxiety.
It's bad out there, and it's been bad for years, interest rates notwithstanding. I know people keep saying "well buy a smaller house!", but the problem is that no one has been building "smaller houses" for two decades, and even the older ones either still cost a fortune because they are in an in demand area of the city or they are rentals. My wife and I both make good money, and even with no kids, we look around and think "damn, houses are fricking expensive". Again, I don't know how "average" people do it. I guess the answer is usually that they don't.
Posted on 3/5/23 at 2:53 pm to Joshjrn
My wife and I are hoping to get our first house here soon (both teachers)but I’m holding out until rates show some sign of coming back down. Her mom was trying to tell me today how “much better the markets looking” and I was like fricking how? Shits still high as giraffe pussy with interest rates still inching up. I’m not touching 6.5+% on a 220k+ house (average going rate here currently) if I can help it.
ETA: Just realized I worded this wrong. Its prices i want back down more than rates (although if both happen I wont complain)
ETA: Just realized I worded this wrong. Its prices i want back down more than rates (although if both happen I wont complain)
This post was edited on 3/7/23 at 11:14 am
Posted on 3/5/23 at 4:28 pm to Pedro
If rates drop below 5% it’s going to be a feeding frenzy again. Pick your poison.
Posted on 3/5/23 at 10:44 pm to Pedro
quote:
wife and I are hoping to get our first house here soon (both teachers)but I’m holding out until rates show some sign of coming back down. Her mom was trying to tell me today how “much better the markets looking” and I was like fricking how? Shits still high as giraffe pussy with interest rates still inching up. I’m not touching 6.5+% on a 220k+ house (average going rate here currently) if I can help it.
I am going ahead with it currently in exactly the situation you describe. I figure i can refinance if rates drop and I'll have the house I want and not be in a bidding war as the frenzy kicks in.
I'd you can afford it and find the right place it could potentially be a decent time to buy still
This post was edited on 3/5/23 at 10:49 pm
Posted on 3/6/23 at 5:59 am to Pedro
quote:
I’m not touching 6.5+% on a 220k+ house (average going rate here currently) if I can help it.
That was pretty much the rate a decade again. Not very likely you see 3% in a very very very very very long time if ever. It’s more likely to go up than down.
Posted on 3/6/23 at 11:12 am to shoelessjoe
I have a 705 credit score. Last month we locked in 5.75% on a VA loan through Origin Bank.
The best we could get offered through Veterans United was 7.25%
We got extremely lucky.
The best we could get offered through Veterans United was 7.25%
We got extremely lucky.
This post was edited on 3/6/23 at 11:16 am
Posted on 3/6/23 at 11:45 am to Suntiger
It's not the rate im hoping climbs back down as much as the absurd asking price im seeing for some of the homes here.
Posted on 3/7/23 at 8:14 am to Pedro
quote:
It's not the rate im hoping climbs back down as much as the absurd asking price im seeing for some of the homes here.
I don't see home prices moving down a ton in the near term. Not enough inventory and material costs are still high.
Posted on 3/7/23 at 9:06 am to thegreatboudini
quote:
Historically you could acquire a home for 2-2.5x household income. That multiple is substantially higher right now.
I don't know how people are paying these rates at these prices
Prices will move down
Posted on 3/7/23 at 9:10 am to oklahogjr
quote:
It's brutal but Im saving some money over rent still which is nice.
But let's just say I'm looking forward to refinancing one day whenever rates drop down.
quote:
oklahogjr
You get what you vote for
Posted on 3/7/23 at 9:22 am to oklahogjr
quote:
I don't see home prices moving down a ton in the near term.
I've got to disagree. In my area inventory is currently at the same level of 2019 due to a 300% increase in the last 3 months.
Prices will move as people start to hurt. I've got my finger on the trigger for a last week of December close with a starving builder to get an home off the books before the end of a painful 2023.
Posted on 3/7/23 at 9:38 am to oklahogjr
quote:
I don't see home prices moving down a ton in the near term. Not enough inventory and material costs are still high.
You need capable buyers to keep home prices at current levels
Some markets will definitely see a correction
Posted on 3/7/23 at 11:25 am to REB BEER
But the still inflated house prices to go along with the 7% rate is not the norm.
Place a graph with home price next to yours and you will see this current environment is not the norm
Place a graph with home price next to yours and you will see this current environment is not the norm
Posted on 3/7/23 at 1:00 pm to Pedro
quote:
It's not the rate im hoping climbs back down as much as the absurd asking price im seeing for some of the homes here.
This. I've just about given up looking. Starter homes are going for $400k+ and it is just ridiculous.
Posted on 3/7/23 at 11:10 pm to GoCrazyAuburn
Saw a home that “needed work” (was a fricking understatement place was wrecked) going for 230,000 the other day. 3 bed 2 bath built in the 80’s. Don’t remember the square footage but it wasn’t anything spectacular. Place needed probably 20k minimum worth of work just to be liveable. Shits unreal.
Page 3 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News