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Message
re: Current Housing Prices
Posted on 3/12/22 at 9:13 am to Box Geauxrilla
Posted on 3/12/22 at 9:13 am to Box Geauxrilla
Where is the money coming from for all these buyers? According to the stats, 64% of Americans are pay check to pay check
This post was edited on 3/12/22 at 9:14 am
3
Posted on 3/12/22 at 9:19 am to glorymanutdtiger
I think people are paying up because material prices are increasing and inventory is low. Labor costs will increase because of inflation even when materials stabilize. Trying to buy now before rates go up even more can be a difference of 200-800/ month for the same price house. That is driving buyers imo.
Posted on 3/12/22 at 9:22 am to glorymanutdtiger
quote:
Where is the money coming from for all these buyers? According to the stats, 64% of Americans are pay check to pay check
a ‘what came first, the chicken or the egg’ situation.
Posted on 3/12/22 at 9:26 am to H2O Tiger
It took my nephew months to buy a house in Florence, AL. Same deal described by previous posters, tight market, houses selling way over asking price, bid wars, etc. I just couldn’t believe he was having that issue in such a small market like that. Austin, Atlanta, NYC…. Sure, but Florence, AL?
Posted on 3/12/22 at 9:29 am to H2O Tiger
quote:
It got to the point last summer they were worried the boat was going to get stuck on the lift levels were so low. Not much fun staring at a mud hole
I was on the water at Canyon Lake almost every weekend last Summer. The water levels were fine.
Posted on 3/12/22 at 9:33 am to glorymanutdtiger
(no message)
This post was edited on 8/23/22 at 11:32 am
Posted on 3/12/22 at 9:35 am to H2O Tiger
Friends of mine that live in my neighborhood, middle class, still pretty nice, put their house on the market and had 27 offers in 24 hours. It is insane right now.
Posted on 3/12/22 at 9:43 am to H2O Tiger
It sucks. Houses seem to routinely go for 10-15% higher than list with 15-20 offers almost every time around here. Saw a completely junked house with no flooring, water damage everywhere and damaged walls go 15k over ask. It's a panic-buying market and it's going to be ugly when interest rates finally budge.
Posted on 3/12/22 at 10:05 am to AUCom96
I just don’t know why anyone would sell their home right now when they would have to turn around and buy at the same ridiculous price.
Also can someone answer this…how are people affording these crazy prices when most people are not making that much more to keep up with costs?
Also can someone answer this…how are people affording these crazy prices when most people are not making that much more to keep up with costs?
Posted on 3/12/22 at 10:14 am to H2O Tiger
I just don’t get how young people can afford to get into this market. I’m 30 with a good job and I can’t stomach paying $450+ for a 3/2 1800 SFQT starter home. It’s really sad and disheartening honestly
Posted on 3/12/22 at 10:15 am to GatorPA84
quote:
Also can someone answer this…how are people affording these crazy prices when most people are not making that much more to keep up with costs?
Being in Alabama, I wonder how much of it is people from higher cost areas moving southwards where their money goes farther. I've been told my friends in real estate this is a minor part of it, but it's just hard to see this many people suddenly needing housing when interest rates have been low for so long.
Posted on 3/12/22 at 10:20 am to MC5601
quote:
I just don’t get how young people can afford to get into this market. I’m 30 with a good job and I can’t stomach paying $450+ for a 3/2 1800 SFQT starter home. It’s really sad and disheartening honestly
In a similar spot. What’s my other alternative? Throw money away in rent every month?
I am not married and don’t have kids. I may just get a 1br condo
Posted on 3/12/22 at 10:22 am to H2O Tiger
Did you go 10% over, all cash, waive the appraisal and the inspection?
That's what gets the houses around here.
That's what gets the houses around here.
Posted on 3/12/22 at 10:28 am to MC5601
quote:
paying $450+
What kind of hood are you living in?
Posted on 3/12/22 at 10:34 am to notiger1997
Man reading this is making me wanna put my 2 acres up for sale
Posted on 3/12/22 at 10:35 am to HouseMom
quote:
The market right now is "insane" right now as there is a true housing shortage.
Which means the supply is low while demand high...which isn’t insane.
Why can’t 2022 Americans use any other word to describe things? Oh yes they can: Crazy!
Posted on 3/12/22 at 10:36 am to GatorPA84
quote:
just don’t know why anyone would sell their home right now when they would have to turn around and buy at the same ridiculous price.
Also can someone answer this…how are people affording these crazy prices when most people are not making that much more to keep up with costs?
A lot of it (at least in my area) is driven by people coming from much more expensive areas selling their 3/2 in California for 1.5 million and buying a much bigger/nicer house here in TN for half that.
I'm trying to upgrade to a bigger house in a better school district, but I'm having a hell of a time.
Posted on 3/12/22 at 10:36 am to MC5601
quote:
I just don’t get how young people can afford to get into this market
Dead boomer parents leaving behind money
Crypto sales
Posted on 3/12/22 at 10:36 am to MC5601
quote:
and I can’t stomach paying $450+ for a 3/2 1800 SFQT
Only way you're paying $450 is if your name is Jack Tripper and you have two roommates. Hell even your $450 times 3 ($1350) might be low considering 1800 sf in any decent area nowadays.
Posted on 3/12/22 at 10:41 am to MC5601
quote:
I just don’t get how young people can afford to get into this market. I’m 30 with a good job and I can’t stomach paying $450+ for a 3/2 1800 SFQT starter home. It’s really sad and disheartening honestly
I'm in my mid thirties. I started renting at 18. I've never paid less than $600 and change in my entire life, and that was for a 1br/1ba. Where on earth did you come up with $450 for a 3br/2ba house?
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