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Message
re: Real estate is insane. Is this sustainable?
Posted on 3/12/21 at 12:32 pm to Hussss
Posted on 3/12/21 at 12:32 pm to Hussss
quote:What currency do "lots of people think" will replace the U.S. dollar as the leading reserve currency?
Lots of people think the dollar is going down in flames.
The dollar won't "go down in flames" unless there is a widely accepted and easily available currency to replace it.
That's a lesson history teaches.
You did take some history classes before you dropped out of high school, right?
3
Posted on 3/12/21 at 12:40 pm to Hussss
The whole world is inflating their currencies out of the same reasoning.
Posted on 3/12/21 at 12:54 pm to jimbeam
Ok fair enough. So as long as you can hold what is valuable to you or defend it with a gun from the crooks then you are ahead of most folks, right?
Posted on 3/16/21 at 9:17 am to NEMizzou
Prices may be insane but the value of your home has increased along with it. For many people this is the time to refinance for debt consolidation. I have seen many people be able to get a lower rate and money to pay off high interest they have accumulated in the lockdown.
"Homeowners gained more than $1.5 trillion in equity in 2020.... boosting the amount of home equity for the average homeowner with a mortgage to more than $200,000"
LINK
"Homeowners gained more than $1.5 trillion in equity in 2020.... boosting the amount of home equity for the average homeowner with a mortgage to more than $200,000"
LINK
This post was edited on 3/16/21 at 9:26 am
Posted on 3/16/21 at 1:52 pm to LSURussian
(no message)
This post was edited on 7/25/22 at 4:30 pm
Posted on 3/16/21 at 4:23 pm to ghost2most
Personal opinion: The equity market and the real estate market is where inflation is at the moment.
All the liquidity in the system/economy is manifesting itself in these two markets, driving up prices. As long as the Fed is in QE2 and flushing the market with cash, prices will increase. More dollars chasing a limited supply.
Posted on 3/16/21 at 7:47 pm to baldona
quote:
quote:
So you man up and let her know this is the right financial play for the family. Don't be whipped/let her be an emotional terrorist.
What does right financial play mean though? Everyone spends money on things they don't need to for their own happiness.
Living in a rental due to a move or short term job or similar situation is fine. I just think living in a rental by choice to not have to buy and hopefully time the market better, is not going to be an ideal situation.
Plenty of issues related to renting relate to masculine things too, like garage renovations and what not. You simply don't have the freedoms you do while renting as you do while owning.
If you go from owning for 30 years to renting for a year, I just think it can be a bigger transition then people give it credit for.
I agree. Sold a 2700 sq ft house in metro ATL in a great area we had been in 22 years. Lived in a 700 sq ft casita in Santa Fe for 2.5 months until we bought a house. It was in a great location but couldn't wait to eject from that place, plus paying storage for all our shite. Hard to go from a medium to large nice home/lot to that.
Posted on 3/16/21 at 7:49 pm to Alltheway Tigers!
quote:Bingo
Personal opinion: The equity market and the real estate market is where inflation is at the moment.
Posted on 3/16/21 at 7:49 pm to Alltheway Tigers!
quote:
Personal opinion: The equity market and the real estate market is where inflation is at the moment.
Mortgage rates are a big driver of sales/appreciation. People keep reaching because they can finance homes cheaply.
Posted on 3/16/21 at 9:03 pm to LSURussian
quote:
What currency do "lots of people think" will replace the U.S. dollar
If it’s Iraqi dinar I’ll have “frick you” money.
Posted on 3/16/21 at 9:04 pm to OysterPoBoy
Dinar dinar bill y’all
Posted on 3/16/21 at 9:14 pm to KwoodTiger
Lending requirements are solid. Appraisals are straight up with current banking rules. The sole extinguisher is the interest rates. When they get to 4.5-5 it’s going to correct.
I don’t see that happening this year.
I don’t see that happening this year.
Posted on 3/16/21 at 9:15 pm to baobabtiger
Things are about to change a little. I heard the lending requirements on second homes and investment properties are going to go up a good bit starting April 1.
Posted on 3/16/21 at 10:25 pm to ghost2most
(no message)
This post was edited on 12/18/21 at 10:57 am
Posted on 3/16/21 at 11:10 pm to ghost2most
Houston is pretty ridiculous as well. People are paying $800k for 80 year old shite boxes in the Heights.
Posted on 3/17/21 at 12:19 am to Samso
When inflation eventually rears its ugly head, my mortgage will become a strange "blessing". It's a tremendous hedge (and I'm less than a year into a 30 year) on inflation.
I never really thought about the concept until I got closer to buying:
Inflation decreases the value of a dollar. Mortgage is a fixed amount / terms. As inflation increases, the real value of the liability decreases (while possibly having an asset that increases in value as inflation pushes prices higher).
I never really thought about the concept until I got closer to buying:
Inflation decreases the value of a dollar. Mortgage is a fixed amount / terms. As inflation increases, the real value of the liability decreases (while possibly having an asset that increases in value as inflation pushes prices higher).
Posted on 3/17/21 at 6:00 am to ghost2most
When rates rise, and they certainly will. Inflation is going to cripple us. This may take a few years. But if we keep going at this pace of debt and spending, it’s coming.
Posted on 3/17/21 at 10:43 am to Hayekian serf
quote:
When rates rise, and they certainly will. Inflation is going to cripple us. This may take a few years. But if we keep going at this pace of debt and spending, it’s coming.
We may be a couple years away from Jimmy Carter type inflation
Posted on 3/17/21 at 2:06 pm to LSU1018
You are correct- Rates have already begun increasing. If you are wanting that second home, this is not your week to lock
Posted on 3/17/21 at 2:22 pm to baobabtiger
Here's a question I'm wondering about-
1. How many new HELOCs over the past 2 years and how does that compare historically?
2. How much debt is actually owed on those HELOCs and how does that compare historically?
Adjustable rate mortgages were a huge problem that compounded when things started going south. There might not be near the amount of ARMs today as there were 13 years ago, but HELOCs with their adjustable rates may be the secret problem......
1. How many new HELOCs over the past 2 years and how does that compare historically?
2. How much debt is actually owed on those HELOCs and how does that compare historically?
Adjustable rate mortgages were a huge problem that compounded when things started going south. There might not be near the amount of ARMs today as there were 13 years ago, but HELOCs with their adjustable rates may be the secret problem......
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