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Started By
Message
re: The U.S. Housing Boom Is Coming to an End, Starting in Dallas
Posted on 12/1/18 at 2:14 pm to LSUBadger
Posted on 12/1/18 at 2:14 pm to LSUBadger
quote:
Young people should buy what they can reasonably afford but on a 15 year note. The interest to equity differential between a 30 and a 15 year is ridiculous
i'm waiting on the market to go south again. no point in buying with historically high prices
1
Posted on 12/1/18 at 2:17 pm to RedRifle
Young buyers are going for smaller older houses inside the city that they can fix up with the amenities and style they want that’s close to everything. The cookie cutter suburb homes that are bigger but all look the same and require a commute into the city for work or play are not what they want to deal with or pay for.
Posted on 12/1/18 at 2:18 pm to bmy
quote:
i'm waiting on the market to go south again. no point in buying with historically high prices
somewhat similar situation here and it's sliding
hell in 5 years, there are going to be some amazing values in Lafayette, too
Posted on 12/1/18 at 2:19 pm to SlowFlowPro
I’m hoping for much less
Posted on 12/1/18 at 2:19 pm to RedRifle
Good.
Need it to come slash some prices in B’ham. I’m about ready to buy a house again.
Need it to come slash some prices in B’ham. I’m about ready to buy a house again.
Posted on 12/1/18 at 2:20 pm to SlowFlowPro
quote:
hell in 5 years, there are going to be some amazing values in Lafayette, too
Funny you say that because Lafayette is a lot like Dallas. Just a very much smaller version.
Both are very pretentious and lots of $30k millionaires
Posted on 12/1/18 at 2:22 pm to StringedInstruments
quote:
Need it to come slash some prices in B’ham. I’m about ready to buy a house again.
B’ham should have some excellent deals. I rode around Mountain Brook a few years ago and there were houses for sale all over the place. Lot of abandoned houses in supposedly the nicest area of Bham
Posted on 12/1/18 at 2:22 pm to Crucial Taunt
Posted on 12/1/18 at 2:23 pm to Crucial Taunt
quote:
Young buyers are going for smaller older houses inside the city that they can fix up with the amenities and style they want that’s close to everything. The cookie cutter suburb homes that are bigger but all look the same and require a commute into the city for work or play are not what they want to deal with or pay for.
trade off for everything for sure.
Here, a smaller home close to the city in a safe neighborhood will cost as much as the home in the burbs that is twice the size, 2-3 times the lot and A+ school rating.
Posted on 12/1/18 at 2:25 pm to Restomod
quote:
Here, a smaller home close to the city in a safe neighborhood will cost as much as the home in the burbs that is twice the size, 2-3 times the lot and A+ school rating.
but it still might be the better investment as it will likely always be in demand.
and if you don’t have kids schools don’t matter as much
plus they generally are bought and sold more often which helps give the market confidence
Posted on 12/1/18 at 2:25 pm to LSUBadger
quote:
Young people should buy what they can reasonably afford but on a 15 year note.
Why would you nuke your cash flow when interest rates are still pretty low historically?
quote:
Its the same as putting $800 a month into an IRA
I feel like a 30 year note and $800/month into an IRA is a much better option.
Also, how many “young people” can reasonably afford a 15 year note on a decent home?
Posted on 12/1/18 at 2:27 pm to tgrbaitn08
yeah but Lafayette isn't as diversified as they like to believe and are crashing from the $100/barrel days
oil isn't coming back
oil isn't coming back
Posted on 12/1/18 at 2:28 pm to PhiTiger1764
quote:
Also, how many “young people” can reasonably afford a 15 year note on a decent home?
smaller is better and almost universally a better buy
Posted on 12/1/18 at 2:31 pm to TypoKnig
quote:I didn't know you have to stay in a home and can't sell for 30 years.
Younger people realize that getting locked in to a 30 year McMansion to keep up with the Jones isn’t a smart decision.
Posted on 12/1/18 at 2:31 pm to cgrand
quote:
smaller is better and almost universally a better buy
I bought a $1550 sqft home for $185k when I was 25. Was making about $52k at the time. Would have been impossible to swing a 30 year note.
Posted on 12/1/18 at 2:32 pm to SlowFlowPro
quote:
yeah but Lafayette isn't as diversified as they like to believe and are crashing from the $100/barrel days
oil isn't coming back
But they have all those Tech companies moving there. Ask NIH
Posted on 12/1/18 at 2:35 pm to TypoKnig
I'd be depressed as fugg if I woke up at 55 years old and realized that I had tossed $500k in rent down the drain.
Posted on 12/1/18 at 2:38 pm to RedRifle
Definitely seems market based so far.
I know we had threads on here a few months back asking for real estate advice and then ignoring what we said about asking for seller to cover closing costs, etc, specifically because it was Dallas.
Seems like last time where the problem markets were generally Vegas, Phoenix, Orlando, etc. and not most of the country.
I know we had threads on here a few months back asking for real estate advice and then ignoring what we said about asking for seller to cover closing costs, etc, specifically because it was Dallas.
Seems like last time where the problem markets were generally Vegas, Phoenix, Orlando, etc. and not most of the country.
Posted on 12/1/18 at 2:53 pm to PhiTiger1764
quote:
feel like a 30 year note and $800/month into an IRA is a much better option.
This. That guy made no sense. With dates as cheap as they are, buy somewhere desirable, enjoy appreciation, and at the worst you’ve lived there for free when you decide to move
Posted on 12/1/18 at 2:53 pm to Paul Allen
Austin is still stupid. A 1400 sq. Ft house around the corner from me is selling for 700k 
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