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Started By
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re: New Single Family homes listed for sale hits highest level since 2008
Posted on 4/25/24 at 10:18 am to MoisterOyster
Posted on 4/25/24 at 10:18 am to MoisterOyster
Why buy a bunch of sub prime mortgages and service them when you can just buy whole neighborhoods and control the indexes 100pct.
0
Posted on 4/25/24 at 10:20 am to stout
prices are still obnoxiously high.
Posted on 4/25/24 at 10:42 am to fallguy_1978
quote:
We have an older house that we bought when prices were still low from the '08 downturn and we refinanced it during Covid at 2.3%. Our mortgage is cheaper than I could rent a crappy 2 BR apartment for these days.
We're in the same boat with maybe wanting something smaller when it's just the two of us, but it makes zero financial sense. We refinanced to 2.8% in 2019, and I don't even think we could realistically afford to buy our own house now with the value increase and current interest rates.
In fact, our current mortgage is less than what our LAST house would cost us if we bought it today. This house is bigger and exponentially nicer in every way. Why on earth would we move?
Posted on 4/25/24 at 10:47 am to HouseMom
Yeah, not many people are going to want to move and trade a 2.5% mortgage for 7.5%. I guess there are times where people are forced to move or some people can sell and pay cash for another place with the proceeds.
Posted on 4/25/24 at 10:50 am to Supermoto Tiger
quote:
I'm waiting it out until the following happens:
- substantial drop in interest rates.
(4-5% range)
- substantial drop in material cost
So 25 years
This post was edited on 4/25/24 at 10:51 am
Posted on 4/25/24 at 11:31 am to donRANDOMnumbers
And the finishes are bad. 600-800k with LVT floors, not even engineered wood lol
Posted on 4/25/24 at 11:44 am to High C
quote:Morons in charge
trying to figure out what 2024 has in common with 2008
Posted on 4/25/24 at 11:46 am to theunknownknight
quote:
So 25 years
Not at all - I only have probably 25 more years left on this Earth. Rates are 6.9% today. I expect after the election, hopefully 2nd/3rd qtr of 2025 they will trend downward to the low to mid 5's. That's good enough for me to get started.
Posted on 4/25/24 at 11:47 am to GREENHEAD22
quote:
Damn baw, I can't imagine building and moving that soon. I am assuming yall don't have little ones? Where in HTown now? West side?
No kids. Living in Spring right now off Rayford but looking to be in Benders Landing because of the 1.7% tax rate. Don’t really want to live too far out but my office is in Conroe so I could go a little further north if I wanted.
Wife works off 45 in Houston.
Posted on 4/25/24 at 11:49 am to stout
I guess BR is low on inventory the way they are building here.
Posted on 4/25/24 at 12:33 pm to loogaroo
Low on non ghetto or non ghetto adjacent inventory
This post was edited on 4/25/24 at 12:34 pm
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