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re: Housing market is stupid right now - brief rant *Update in OP*
Posted on 5/3/22 at 9:52 pm to LSUTigahss
Posted on 5/3/22 at 9:52 pm to LSUTigahss
Don't even bother, blackrock is going to outbid you.
0
Posted on 5/3/22 at 9:52 pm to BK Lounge
quote:
we all know a bubble burst (or at least a severe correction) is coming, not if but when
Everyone is mentioning this bubble bursting but no one seems to think that prices won’t go down or market crash, they’re more than likely going to stabilize.
Aren’t we at least 5 or so years away from adequate inventory to catch up to the demand?
Posted on 5/3/22 at 9:53 pm to gizmothepug
Right, i guess there may be some people who dont have a choice but to buy a home right now.. i guess.. but anyone who can hold off at all- rent (even though the price squeeze is definitely there too), stay in ur current home, hell live out of a camper or somehting for a few months.. im no economics major, but most agree that what’s happening in the market now isn’t sustainable for very much longer .
Posted on 5/3/22 at 9:55 pm to BK Lounge
quote:
we all know a bubble burst (or at least a severe correction) is coming, not if but when .
People are paying cash for houses. I keep hearing this talking point while I've seen chicken wings go from 1.99 to 3.99. Inflation is driving a good bit of this too, I just don't see the market crashing anytime soon. Interests rates going up will cap it and slowly decrease it, but there's just a scarcity.
Posted on 5/3/22 at 9:55 pm to Paul Allen
quote:
Aren’t we at least 5 or so years away from adequate inventory to catch up to the demand?
Where is all this money coming from? Our economy is not boomin.
Posted on 5/3/22 at 9:55 pm to LSUTigahss
What you looking for? Ours is about to hit the market in AP
Posted on 5/3/22 at 9:56 pm to BK Lounge
Our rent went up 33% at the beginning of the year. If it wasn’t for that, I’d be fine continuing to rent until something calms down.
But it just doesn’t make sense to me to pay 10% less for an apartment, than a home mortgage. If somebody can make that make sense I’ll continue renting.
But it just doesn’t make sense to me to pay 10% less for an apartment, than a home mortgage. If somebody can make that make sense I’ll continue renting.
Posted on 5/3/22 at 9:56 pm to supadave3
quote:
I’ll be apartment trash for a while longer…
Right there with you.. ive actually moved apartments a couple of times since i sold my home, to avoid them going up on my rent .. quite a hassle- but less of a hassle, and way less expensive, than buying an overpriced house at the top of the market .
Posted on 5/3/22 at 9:57 pm to supadave3
quote:
Where is all this money coming from? Our economy is not boomin.
Hedge funds putting skin in the game. First try is to resell while the market is hot. If that fails, rental.
Posted on 5/3/22 at 9:58 pm to LSUTigahss
I've lost 3 house in this market offering 10-15% over asking on each. One of them I was the highest offer. All 3 accepted all cash offers 
Posted on 5/3/22 at 9:59 pm to Paul Allen
For more, tune into Financial Engines with me, Ric Edelman.
Or, log onto edelmanfinancialengines.com
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Or, log onto edelmanfinancialengines.com
Posted on 5/3/22 at 10:00 pm to Jcorye1
quote:
People are paying cash for houses
There's no fricking way there are THAT many people around with shitloads of money laying around to pay cash for houses. No way. I refuse to believe it. If every $400k house for sale in America can go for cash right now than im actually a broke dick mother fricker and didn't know it.
Posted on 5/3/22 at 10:01 pm to BK Lounge
quote:
Right there with you.. ive actually moved apartments a couple of times since i sold my home, to avoid them going up on my rent .. quite a hassle-
Yep, I just moved into my 3rd apartment in 4 years. Switched cities and jobs also.
Posted on 5/3/22 at 10:07 pm to LSUTigahss
(no message)
This post was edited on 10/26/24 at 5:25 pm
Posted on 5/3/22 at 10:09 pm to TigerSaintInDallas
Luckily, I’m not in Dallas, so we’re probably in the same $ range, different zip code.
However, it does seem like I’m in a rather popular smaller town. Could go a city over and buy a house tomorrow, but I want my kid to be able to go to Public school if I wanted.
However, it does seem like I’m in a rather popular smaller town. Could go a city over and buy a house tomorrow, but I want my kid to be able to go to Public school if I wanted.
Posted on 5/3/22 at 10:12 pm to LSUTigahss
quote:
But it just doesn’t make sense to me to pay 10% less for an apartment, than a home mortgage. If somebody can make that make sense I’ll continue renting.
The real cost of home ownership can be much more than the mortgage. Do you have 8k for a new AC? 10k for a new roof? What about 2k for some plumbing work? I had to pay for all those in a 24 month period.
Posted on 5/3/22 at 10:13 pm to BigBobbyStorey
Agreed man
BORING
Story is BORING
BORING
Story is BORING
Posted on 5/3/22 at 10:14 pm to LSUTigahss
I listed my house a couple months ago for 48 hours. First offer was exactly what I asked for. Three of the next 12 offers where well above asking, not contingent on appraisal.
It sucks but it's a seller's market and I would have been dumb to accept the first offer
It sucks but it's a seller's market and I would have been dumb to accept the first offer
Posted on 5/3/22 at 10:16 pm to LSUTigahss
As someone that does this with specialty commercial RE, you’re what we call a nice anchor hedge.
I’m probably not using the right terms either. I am very bad at what I do.
Either way, this is apparently now a common tactic in residential. List low, collect offers, pit everyone against each other. No biggie if you’re a man and can walk away, but females are the more gentile of the species and tend to emotionally bind to houses. If that’s the case, gooooooooooooooooood luck. My wife didn’t speak to me for weeks after losing a house by putting in an offer of “15% below asking, seller pays closing, leave all furniture and decor”
(I just sold myself out to a few people on here)
I’m probably not using the right terms either. I am very bad at what I do.
Either way, this is apparently now a common tactic in residential. List low, collect offers, pit everyone against each other. No biggie if you’re a man and can walk away, but females are the more gentile of the species and tend to emotionally bind to houses. If that’s the case, gooooooooooooooooood luck. My wife didn’t speak to me for weeks after losing a house by putting in an offer of “15% below asking, seller pays closing, leave all furniture and decor”
(I just sold myself out to a few people on here)
Posted on 5/3/22 at 10:20 pm to supadave3
quote:
Where is all this money coming from?
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