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Started By
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re: Cost to buy = $2,700/month. Cost to rent = $1,850/month
Posted on 5/24/23 at 12:10 pm to stout
Posted on 5/24/23 at 12:10 pm to stout
I am in central FL. A 3/2 rents for aboot $2100. A one BR apt is about $1500-1800. I am seeing a ton of people in the more rural areas renting out campers in their yard. One ole baw that has had LSU and ULala front plates on his vehicles has 3 campers rented out in the back yard.
It must be a good deal for all of these tenants and landlords.
It must be a good deal for all of these tenants and landlords.
1
Posted on 5/24/23 at 12:11 pm to stout
Bought my house in 2015. It's pretty small, just a 2BR because it was just me at the time. I've since married and had our first kid, and we want another one in the coming years. We manage, but it is getting a little cramped so I've been passively looking for something bigger which would be our permanent marital home.
Hopefully before my kid starts school the market will have calmed down but I'm starting to not get my hopes up about that. There's just no way I can justify moving right now with the mortgage rate I'm currently locked in, it would be financially irresponsible to ditch that and latch on to the current rates. Guess I'll just keep building equity and count myself lucky that I have an affordable mortgage and a roof over my family's head for the time being. I do feel for those that are trying to get their first homes at this time.
Hopefully before my kid starts school the market will have calmed down but I'm starting to not get my hopes up about that. There's just no way I can justify moving right now with the mortgage rate I'm currently locked in, it would be financially irresponsible to ditch that and latch on to the current rates. Guess I'll just keep building equity and count myself lucky that I have an affordable mortgage and a roof over my family's head for the time being. I do feel for those that are trying to get their first homes at this time.
Posted on 5/24/23 at 12:15 pm to Supermoto Tiger
quote:
Save more money for a bigger down payment
Yeah that’s a nice thought and all but in the process of us trying to save for a bigger down payment, housing prices are rising faster than the vast majority is able to save.
Posted on 5/24/23 at 12:17 pm to stout
quote:
Seems as if there is more rental inventory available and not being rented the first day they hit the market.
Hell I'm seeing neighborhood being built TO RENT, not even for sale
Posted on 5/24/23 at 12:17 pm to GCTigahs
quote:
Then vote accordingly.
Voting republican hasn’t made housing any cheaper. Are you saying I should be voting democrat instead?
This post was edited on 5/24/23 at 12:18 pm
Posted on 5/24/23 at 12:19 pm to HailToTheChiz
quote:
Hell I'm seeing neighborhood being built TO RENT, not even for sale
RE is a great investment during times of inflation. Hedge funds know this and are parking their money there. That's been happening. A large hedge fund just bought a block of 40 or so houses from DSLD here before the houses could hit the market.
Posted on 5/24/23 at 12:21 pm to sidewalkside
quote:
Plus homeowners are much more qualified than they were in the 07/08 meltdown so you won't see massive foreclosures due to people with 0% down payment loans
For now...Biden and Co. trying to "fix" that with their reallocation scheme.
Posted on 5/24/23 at 12:22 pm to upgrayedd
quote:
This is why it annoys me when people shite on millennials and zoomers. They're being forced into serfdom due to criminal monetary policies.
Vote Democrat, get Democrats.
Posted on 5/24/23 at 12:24 pm to Hangit
quote:and this is the positives in city ordinances and strong HOAs
One ole baw that has had LSU and ULala front plates on his vehicles has 3 campers rented out in the back yard.
Posted on 5/24/23 at 12:24 pm to Supermoto Tiger
quote:
what?
Most current homeowners (62% from recent data as of the end of 2022) either bought or refinanced with rates below 4%. 82% have a rate below 5% on a 30-year fixed (decades).
It is not in those owners’ interests to move and have to get a new mortgage at current rates, so very few homes hit the market. This lack of supply means that housing prices stay elevated at the levels created by the lower interest rates, even as those rates rise.
The only way supply will increase enough to cause a crash is if there’s a large recession with millions of lost jobs forcing sales, and even then it will be a localized problem centered around the cities heavy on the most effected industries. Also, in the case of a major recession, rates will likely be brought down again, which will act as an inflator of home prices, even as supply increases.
This post was edited on 5/24/23 at 12:29 pm
Posted on 5/24/23 at 12:24 pm to stout
quote:
really do think we see a correction more akin to a bump in the road and things keep chugging along.
You nailed it. Totally agree.
Posted on 5/24/23 at 12:25 pm to Big Scrub TX
Big Scrub always here to deflect for his team.
Posted on 5/24/23 at 12:27 pm to Klark Kent
quote:My team is none of these assholes. Just pointing out the constant hypocrisy on here.
Big Scrub always here to deflect for his team.
Posted on 5/24/23 at 12:27 pm to Klark Kent
My pal KKKent shows up with zero to add like clockwork 
Posted on 5/24/23 at 12:29 pm to SuperSaint
when have you ever added anything from the felon sugar baby perspective? ohh that’s right. because you don’t have anything other than how to survive “the system” to add. thanks
This post was edited on 5/24/23 at 12:31 pm
Posted on 5/24/23 at 12:29 pm to jizzle6609
How many single adults entering the workforce can afford $1,850 rent + transportation + groceries + utilities + all other necessities? I get cutting back on unnecessary expenditures but even college grads with decent jobs are struggling to live beyond paycheck to paycheck without having to go into credit card debt or even pay student loans.
Posted on 5/24/23 at 12:29 pm to Big Scrub TX
quote:
My team is none of these assholes
yeah. you’re one of the OT’s moderates who conveniently only attacks one side….but we’re not supposed to notice that, right?
This post was edited on 5/24/23 at 12:32 pm
Posted on 5/24/23 at 12:30 pm to Klark Kent
Posted on 5/24/23 at 12:31 pm to stout
I've fought with myself to rent my current home instead of sell but I can't do that in this environment.
I'd need the equity for a down payment somewhere else. Then my new mortgage would likely be double at least
I'd need the equity for a down payment somewhere else. Then my new mortgage would likely be double at least
Posted on 5/24/23 at 12:32 pm to Shunface
a lot of folks feel stuck in their low interest mortgages. It's a great problem to have though. Enjoy the equity. Add a pool and make improvements.
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