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Posted on 5/24/23 at 3:08 pm to LaLadyinTx
quote:
They take longer to sell because everyone wants the new and pretty.
Or buyers know that area is about to turn bad/ghetto and they don't want to lose their arse.
Neighborhoods with older homeowners, shaky schools, and rentals popping up is basically filling the keg with dynamite. That story has been sung 1000 times.
Posted on 5/24/23 at 3:08 pm to Odysseus32
Why aren’t the big four accountant and his nurse wife with a new baby interested in doing major renovations on the weekend???
Posted on 5/24/23 at 3:09 pm to deeprig9
quote:
My property taxes now exceed my principal payment, my interest payment, and my insurance payment; in escrow.
How large was your down payment?
Posted on 5/24/23 at 3:09 pm to stout
quote:
I just bought a flip that is a 12-year-old house that had storm damage but the people walked away from finishing the repairs on. It doesn't need a lot to finish up. A house 3 lots down that has been repaired was bought by a young couple that looked at both houses and didn't want to bother with the repairs. They could have saved $90K if they had motivation.
I do wish my life was more flexible post-storm b/c I have seen some deals on FBM by fed up families giving up on repairs.
Posted on 5/24/23 at 3:10 pm to deeprig9
quote:
All the older 1200 sq ft ranch homes in hip in-city neighborhoods
What I said:
quote:
If you're looking at new construction in the 1300-1500 square foot range, and it's not in a hyper urban area, it's likely a section 8 development.
quote:
But it's still the boomers' fault that you can't live in the house you want to live in.
Who said this, specifically?
Posted on 5/24/23 at 3:10 pm to Odysseus32
quote:
One, why does it bother you so much?
Because it's the same group that wants to blame GenX and boomers for all of the problems. Don't complain about the current state of affairs if you aren't willing to try your best to save yourself $90K which is actually double that when financed over a 30-year mortgage.
quote:
It means they have different priorities.
Yes like being financed to their eyeballs like 90% of the upcoming middle class but at least they have new vehicles, iPhones, and can go screw off on the weekends instead of doing some repairs to build equity.
Then when they can't retire one day it will still be the boomers fault.
There's not a whole lot I wouldn't be willing to try to learn and do in order to save $90K but maybe I am different.
Posted on 5/24/23 at 3:11 pm to stout
quote:
How long do you think the housing market can handle 7% mortgage rates? Mortgage applications are way down
All according to plan..
Houses are still being sold because Blackrock and their ilk are (over)paying for them in cash without having to worry about that pesky 7% interest rate
then they're turning around and renting them to you..
or better yet, renting to them to people who can't afford them but are being subsidized by the federal government to live in your neighborhood
Posted on 5/24/23 at 3:12 pm to CSinLC
quote:
I paid 7% in the mid 90’s
House price : Income was completely different then.
Posted on 5/24/23 at 3:12 pm to stout
quote:
Because it's the same group that wants to blame GenX and boomers for all of the problems. Don't complain about the current state of affairs if you aren't willing to try your best to save yourself $90K which is actually double that when financed over a 30-year mortgage.
quote:
Yes like being financed to their eyeballs like 90% of the upcoming middle class but at least they have new vehicles, iPhones, and can go screw off on the weekends instead of doing some repairs to build equity. Then when they can't retire one day it will still be the boomers fault. There's not a whole lot I wouldn't be willing to try to learn and do in order to save $90K but maybe I am different.
Man that’s a lot of really weird assumptions about some couple you’ve never met.
Posted on 5/24/23 at 3:15 pm to SlowFlowPro
quote:
I do wish my life was more flexible post-storm
Or you just invest with someone like me. The way I started way back when was that when I maxed out my money I would seek out investors that had money but not time. I would manage everything and they put up the money and we had a profit share agreement.
There are still groups and people that do that.
quote:
I have seen some deals on FBM by fed up families giving up on repairs.
I have bought a few including my current personal house. The equity in them has been insane.
Posted on 5/24/23 at 3:15 pm to LaLadyinTx
quote:
That is exactly how it was for us. My hubby had just done some stuff helping his dad and another friend of our also just did stuff. My hubby and his friend just figured it out. Bathroom isn't finished out...ok, trip to Home Depot (and another 10, probably) talk to folks, try stuff, talk to more folks, try more stuff. Figure it out. Hell, this was 20 years before the internet and 30 before you tube.
This is what we did on the weekends. We did all the painting. We put in tile, fixtures, etc. We put in blinds, wallpaper, fans, etc. I do feel like people now think that's too much work and want their weekends for golf and fun stuff.
This is definitely a generational thing.
My boomer dad was staying over with us a few weeks ago, my wife (high income, nudes on reddit) mentioned she hired a handyman to replace a doorframe, and my dad looked at me like I got caught fricking the house cat. It was the lowest I've ever felt in my life.
But I do like leisurely weekends fishing, grilling, drinking, and not carpentry. And with expendable income, why not hire someone else to do it?
I love drinking beer and watching other people work.
Posted on 5/24/23 at 3:15 pm to stout
quote:
Because it's the same group that wants to blame GenX and boomers for all of the problems.
Blaming boomers is one thing, but most people are saying GenX just didn't face the same issues (and this applies to many Boomers, too).
Just FWIW
Posted on 5/24/23 at 3:15 pm to stout
millions of migrants should be looking for homes.
Posted on 5/24/23 at 3:16 pm to jizzle6609
quote:
People need to live within their means.
Most people do not.
This creates a problem.
This. Everyone is chasing the American dream and keeping up with the Jones'. This alone has created a lot of debt.
Posted on 5/24/23 at 3:16 pm to madmaxvol
quote:
The fed has been kicking the can down the road for ever
fify... fed is unconstitutional and should not exist.
Posted on 5/24/23 at 3:17 pm to JohnnyKilroy
quote:
Man that’s a lot of really weird assumptions about some couple you’ve never met.
No assumptions. It's based on data. The average family has no savings and lives check to check. It's also what I see in the other side of my business handling assets for banks and private equity firms.
Posted on 5/24/23 at 3:17 pm to deeprig9
quote:
My boomer dad was staying over with us a few weeks ago, my wife (high income, nudes on reddit) mentioned she hired a handyman to replace a doorframe
quote:
It was the lowest I've ever felt in my life.
Man you’ve had a supremely cushy life sheesh
Posted on 5/24/23 at 3:17 pm to stout
quote:
Or you just invest with someone like me
Well part of the issue was revenue streams that weren't stable during Covid and 2021, which prevented me from even doing something passive like investment. Now I could swing a lot more.
quote:
I have bought a few including my current personal house. The equity in them has been insane.
Oh yeah. All over the place.
Some people are still asking for a premium on houses that have had blue tarps for almost 3 years, though. Madness.
Posted on 5/24/23 at 3:17 pm to deeprig9
quote:
But I do like leisurely weekends fishing, grilling, drinking, and not carpentry. And with expendable income, why not hire someone else to do it?
because that starter home requires sweat equity.
The only people who dont believe that is the younger generations.
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