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Started By
Message
re: The insanity of housing prices these days
Posted on 12/22/21 at 11:20 am to LSUFanHouston
Posted on 12/22/21 at 11:20 am to LSUFanHouston
quote:
3 bed, 2 bath, new construction, 1800 sq ft house, 5,000 sq ft lot, no garage.
In CHALMETTE.
Was originally listed in August at $329,900. No bites, was delisted and relisted (this should be not allowed - just plays with "days on market" metric) at $319,900, and now is $314,900.
$173/sq ft for new construction that is rather meh looking, small lot, in the suburban sprawl that is Chalmette, no defined neighborhood, etc.
In 2015 I bought in a nice neighborhood in St. Bernard, 2,000 sq feet with dethatched garage, solar panels, corner lot, an additional half bath... rebuilt completely in 2011 (was gutted after Katrina), for about 50% of this property's original price of $329,900.
I may not understand the market but I can't imagine paying more than $200K, at most, for this house.
This is probably why I will never move. I'd like to buy more house but the prices are stupid insane.
well thats kind of what happens when the governemnt keeps printing money. when inflation is more than the interest rate......kind of make sense to borrow free money....doesnt it?
0
Posted on 12/22/21 at 11:20 am to LSUFanHouston
All about the property taxes. Guvment funded investment companies coming in and paying more than regular value. Hikes the prices for everyone. Then guess what, MORE TAXES!!
Next thing you know you are out on the streets, living in a tent doing that herion.
Next thing you know you are out on the streets, living in a tent doing that herion.
Posted on 12/22/21 at 11:20 am to ShermanTxTiger
quote:
We are building anew home for $239 sft... 2961 sft .
You can't build for less.
In a nice area?
This is in an area that can still on certain days smell the nasty smells coming from one of the chemical plants in the area... an area that could well be nailed with another hurricane at any time.
Posted on 12/22/21 at 11:20 am to bayoudude
I hope that’s including a lot.
Posted on 12/22/21 at 11:23 am to LSUFanHouston
quote:
This is in an area that can still on certain days smell the nasty smells coming from one of the chemical plants in the area... an area that could well be nailed with another hurricane at any time.
Teedy is not the mayor... You don't have to show vaccination in our parish... and we haven't had an epidemic of smashed windows in any parking lot
There was even a leftist teacher at Chalmette High who was a media darling, and we successfully ran him off
This post was edited on 12/22/21 at 11:25 am
Posted on 12/22/21 at 11:29 am to LSUFanHouston
Then I’d suggest not buying a house until the market has a correction. Or it turns into a buyers market. Right now it’s a sellers situation
Posted on 12/22/21 at 11:30 am to LSUFanHouston
quote:
Sure. But that seems like an issue for the contractor, no? Doesn't mean I have to pay it.
Every business transfers rising costs over to the customer. They do not just settle to make less money.
Posted on 12/22/21 at 11:31 am to LSUFanHouston
quote:
$173/sq ft for new construction that is rather meh looking, small lot, in the suburban sprawl that is Chalmette, no defined neighborhood, etc.
Am I missing something? You say it is overpriced and no one is buying it. How is that insanity, that’s what should be happening.
Posted on 12/22/21 at 11:35 am to OysterPoBoy
Bought my house in 2015 for 200k, now it’s worth 400k.wouldn’t pay that much but houses in my neighborhood is going north of 400k. It’s insanity
Posted on 12/22/21 at 11:37 am to LSUFanHouston
So glad I bought my house when I did.
Posted on 12/22/21 at 11:37 am to LSUFanHouston
A Cadillac and a purple low-riding truck in the driveway across the street, both with dark tinted windows: someone is about to have some good new, neighbors.
Posted on 12/22/21 at 11:39 am to LSUFanHouston
quote:
Sure. But that seems like an issue for the contractor, no? Doesn't mean I have to pay it.
Damn dude. You are better than this.
Posted on 12/22/21 at 11:40 am to LSUFanHouston
It's a painful experience here in central Texas.
My wife and I have a great household income but I've always wanted to be modest with a home purchase, with something like 1.5-2x our annual income. 2x gets me into a 4 year old DR Horton. I'm going to have to go to 3x or more to actually enjoy where I live.
My wife and I have a great household income but I've always wanted to be modest with a home purchase, with something like 1.5-2x our annual income. 2x gets me into a 4 year old DR Horton. I'm going to have to go to 3x or more to actually enjoy where I live.
Posted on 12/22/21 at 11:40 am to LSUFanHouston
quote:
I may not understand the market but I can't imagine paying more than $200K, at most, for this house.
Correct. You do not understand the market.
My first home i bought for $190K in July of 2014. We sold for $257 in July of 2018.
I still have it favorited on Zillow. Zillow shows its Zestimate is not $380K
shite is just insane. But it is what it is.
Posted on 12/22/21 at 11:44 am to Gorilla Ball
quote:
Then I’d suggest not buying a house until the market has a correction. Or it turns into a buyers market. Right now it’s a sellers situation
This. There is an all time low on residential properties available nationwide right now. Things will pick up in the spring but it’s not the time to be out trying to buy
Posted on 12/22/21 at 11:51 am to Chad504boy
quote:
200k doesn't get you a fricking dog house these days.
OTOH, a house you paid $400k for 12 years ago is now worth much more.
Posted on 12/22/21 at 11:57 am to Tempratt
So I guess that property taxes increase just as much...
That's good for old folks and people on fixed incomes... Like it or not the state just raises your taxes too.
That's good for old folks and people on fixed incomes... Like it or not the state just raises your taxes too.
Posted on 12/22/21 at 11:57 am to LSUFanHouston
My colleague here listed his condo the other day. 4BR, 2.5 bath, about 2200 sq ft. Asked for 850k, got offered 1.1MM within four hours. shite be bonkers.
ETA: He paid 425k for it three years ago.
ETA: He paid 425k for it three years ago.
This post was edited on 12/22/21 at 11:59 am
Posted on 12/22/21 at 11:59 am to CunningLinguist
quote:
You cannot find a decent house in an okay neighborhood for less thank $350k in DFW. This has been the reality for a long time.
Just be glad you presumably have a house with a whole lot of equity to hold onto.
Same here in most Neighborhoods in Jax. City is loving it. They can say your house is worth more now and keep raising them property taxes every year. Last 10 years ive been in my house they have raised my property taxes 3 to 4 hundred every year saying your house is worth more this year.
This post was edited on 12/22/21 at 12:01 pm
Posted on 12/22/21 at 12:04 pm to LSUFanHouston
It's sad that society moved away from this style of decor to the shite posted in OP link
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