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Started By
Message
re: These real estate markets may be on the cusp of a San Francisco-style affordability crisis
Posted on 3/18/22 at 10:30 am to MrJimBeam
Posted on 3/18/22 at 10:30 am to MrJimBeam
quote:
Let me know when lumber prices start decreasing. Housing prices may stall but there won’t be a crash.
Lumber forecasts are down big time. We could see sub $700/1000 board ft by summer.
Bloomberg
That said, while the pace of appreciation may lessen, there is no one who thinks housing prices are going down anywhere anytime soon. We simply have no inventory.
This post was edited on 3/18/22 at 10:30 am
2
Posted on 3/18/22 at 10:32 am to ItNeverRains
quote:
We simply have no inventory.
For how much longer?
3,5,10 more years?
Posted on 3/18/22 at 10:34 am to Street Hawk
Im shocked Dallas Suburbs arent on there. I dont see any reprieve in sight.
To get into decent housing/school districts you are minimum of 400-500k.
Pretty much eliminates all first-time home buyers without mommy and daddy backing.
To get into decent housing/school districts you are minimum of 400-500k.
Pretty much eliminates all first-time home buyers without mommy and daddy backing.
Posted on 3/18/22 at 10:41 am to Paul Allen
quote:
For how much longer? 3,5,10 more years?
I’ve not heard of an abundance of inventory available anywhere in the US, here in middle TN we have less than a month of inventory. By definition a healthy sellers market has less than 6 months inventory and above that would be neutral to a buyers market.
I would hope that in 3 years time we can get to a healthier level
Posted on 3/18/22 at 11:56 am to llfshoals
quote:
It’s rough out there for buyers. I was in one yesterday I called the sellers agent after to see how many offers there were so I could talk with my clients about how far over list we’d need to be to have a shot.
Told them I never knew so many people had that much cash laying around, as cash offers seem to come in on a lot of the ones I’m involved with, and I show 500 plus a year
So as a youngish person only ~5 years into my career with only about $20k on hand you're saying I'm unilaterally screwed.
Posted on 3/18/22 at 11:58 am to Snoop Dawg
I bought my house in 1999 and have since refinanced the orig loan. If I had to buy my house today, it would probably cost at least three times as much, and if I had to rent it, the rent would probably be close to three times my mortgage payment. I honestly don't know how young people today afford to buy a house.
Posted on 3/18/22 at 12:22 pm to 50_Tiger
I’m driving to Flower Mound tomorrow…how’s that area?
Posted on 3/18/22 at 12:27 pm to KamaCausey_LSU
quote:
So as a youngish person only ~5 years into my career with only about $20k on hand you're saying I'm unilaterally screwed.
Pretty much, yeah.. i mean you’re competing with hedge funds and huge conglomerates like Blackrock, Fundrise et al who come in and purchase entire neighborhoods and convert to rentals .. so ur $20k and middle class paystub wont go very far.. you’ll either pay much more for much less house, further out from any decent area.. or you’ll rent until the market ‘crashes’, whenever that might be .
Posted on 3/18/22 at 12:28 pm to Ajo Devil
quote:
I honestly don't know how young people today afford to buy a house.
Generally speaking, they dont .
Posted on 3/18/22 at 5:03 pm to Street Hawk
Everyone needs to stay the hell out of Utah. It is the WORST state to live in. Not worth visiting here.
Posted on 3/18/22 at 5:31 pm to KamaCausey_LSU
quote:No, but you’re not going to be competitive on homes needing little to no work that are move in ready.
So as a youngish person only ~5 years into my career with only about $20k on hand you're saying I'm unilaterally screwed.
Your best bet is new construction, get in on ones that just started and are 6-8 months out on completion.
Posted on 3/18/22 at 5:35 pm to ItNeverRains
quote:Same here in Alabama.
here in middle TN we have less than a month of inventory
What’s really going to suck is when we get another rate hike and everyone on the fence tries to get something.
Bad? I don’t think we’ve seen the kind of crazy that’s going to generate. It’s starting now, but will be worse come July IMO
Posted on 3/18/22 at 5:47 pm to Street Hawk
Provo is legit. Lots of sexy chicas there and many are anti Mormon and rock luscious under arm hair, which has become my favourite new fetish. I blame my French great grandfather.
This post was edited on 3/18/22 at 5:49 pm
Posted on 3/18/22 at 5:48 pm to 50_Tiger
quote:
Im shocked Dallas Suburbs arent on there. I dont see any reprieve in sight
Watched list prices of 700k turn into actual offers of 1.1M. Insanity
Posted on 3/18/22 at 6:11 pm to Gaston
quote:
I’m driving to Flower Mound tomorrow…how’s that area?
That is one of the most ridiculous markets. We looked at moving there last year (from Southlake). It is a beautiful area and great town but our trade off was not with the move.
This post was edited on 3/18/22 at 6:13 pm
Posted on 3/18/22 at 8:50 pm to Street Hawk
i can vouch for oak harbor housing crisis
that housing market was absolutely insane
i kick myself in the nuts for not buying in 2017
that housing market was absolutely insane
i kick myself in the nuts for not buying in 2017
This post was edited on 3/18/22 at 8:51 pm
Posted on 3/18/22 at 9:09 pm to tiggah1981
Pretty happy we bought our house in the triangle 3 years ago. Value has increased substantially
Posted on 3/18/22 at 9:53 pm to 50_Tiger
quote:
Im shocked Dallas Suburbs arent on there. I dont see any reprieve in sight. To get into decent housing/school districts you are minimum of 400-500k.
Because 400-500k won’t get you a shitty efficiency in the Bay Area. I get that it’s more expensive than it used to be in DFW, but it’s still far more affordable than a lot of places.
Posted on 4/18/22 at 3:29 am to SirWinston
quote:
and rock luscious under arm hair, which has become my favourite new fetish
Posted on 4/18/22 at 3:42 am to Tuansanliem
quote:
Tuansanliem
Member since May 2021
5 posts
After such news, it begins to seem that the barn will be the best investment.
quote:
vfertasd
Member since Mar 2022
1 post
After such news, it begins to seem that the barn will be the best investment.
ummm......
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