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1
Posted on 1/19/22 at 8:40 pm to VolsOut4Harambe
I wouldn’t buy a house if you’re considering getting married in the next 5 years. She’ll want her house not the shite you buy. Trust me, been there.
Posted on 1/19/22 at 9:00 pm to VolsOut4Harambe
The only thing that is going to happen in the near term is that the market will go from white hot to red hot.
Posted on 1/19/22 at 9:03 pm to VolsOut4Harambe
Here's how it works.
If you buy a house the market will collapse and you'll owe way more on the house than it is worth.
If you don't buy a house the market will continue to go outta control and then you'll have to pay $100k more next year.
Which bad outcome is easier to swallow. I think you know the answer..
If you buy a house the market will collapse and you'll owe way more on the house than it is worth.
If you don't buy a house the market will continue to go outta control and then you'll have to pay $100k more next year.
Which bad outcome is easier to swallow. I think you know the answer..
Posted on 1/19/22 at 9:07 pm to Paul Allen
quote:
Cumming and Dahlonega are growing like crazy
Forsyth County blows my mind. It's gone from basically all white to a place where Sikhs invite you to an Ethiopian Bar Mitzvah in 25 years. And property values have increased by 1000%.
Posted on 1/19/22 at 9:31 pm to VolsOut4Harambe
I foresee Orlando having a major economic problem soon because of the housing market here. It’s has boomed. And I mean boomed. Wife works with someone who owned a home in a not desirable neighborhood. She bought in 2019 and sold in 2021. Went from 250k to 340k. Sold in a week. Rent prices are being reported going up 11-20%. And our economy is tourism based, so we depend heavily on hourly wage workers. Even with all the parks raising minimum wage to $15 hr, it essentially gets negated by the housing and rent market increases. I foresee a lot of those hourly workers who keep the tourism economy going to soon be priced out of living in Orlando and massive labor shortages to follow. Even more than what we are seeing now.
Posted on 1/19/22 at 9:39 pm to VolsOut4Harambe
I don’t think there is a bubble. We just spent over a decade under-building. And now that millennials are finally ready to buy, there just aren’t enough houses for sale out there to satisfy demand.
More younger homebuyers probably need to look into transitioning/gentrifying existing neighborhoods closer to the city centers.
Unless there is economic collapse, there isn’t much to slow this down until interest rates are hiked. That could be later this year.
More younger homebuyers probably need to look into transitioning/gentrifying existing neighborhoods closer to the city centers.
Unless there is economic collapse, there isn’t much to slow this down until interest rates are hiked. That could be later this year.
This post was edited on 1/19/22 at 9:41 pm
Posted on 1/19/22 at 9:42 pm to VolsOut4Harambe
Renew and wait a while. I bought my hous it\n 2007 at a peak in the market and spent a decade upside down on my mortgage. I am just now getting right again.
Posted on 1/19/22 at 10:03 pm to VolsOut4Harambe
Only reason I would say “no” is that inflation is through the roof and buying existing property will be a lot fricking cheaper than breaking ground on a new house.
It is a huge bubble and WILL burst at some point but I don’t see the market conditions causing it yet.
It is a huge bubble and WILL burst at some point but I don’t see the market conditions causing it yet.
Posted on 1/19/22 at 10:15 pm to goofball
quote:
And now that millennials are finally ready to buy
I don’t get this millennials ready to buy houses talk. A good percentage of millennials are 34-40. They more than likely bought their first home years ago. If you’re referring to 25-29 year olds that really isn’t a millennial.
Posted on 1/19/22 at 10:22 pm to teke184
quote:
It is a huge bubble
What makes it a bubble?
Posted on 1/19/22 at 10:27 pm to Paul Allen
quote:
If you’re referring to 25-29 year olds that really isn’t a millennial.
Yes they are.
That's like saying someone born in 1960 isn't really a baby boomer.
Posted on 1/19/22 at 10:40 pm to Indfanfromcol
quote:
I foresee Orlando having a major economic problem soon because of the housing market here. It’s has boomed. And I mean boomed. Wife works with someone who owned a home in a not desirable neighborhood. She bought in 2019 and sold in 2021. Went from 250k to 340k. Sold in a week.
What you're describing is happening everywhere halfway decent and a lot of places that aren't.
I've seen houses in Livingston Parish that have no business being over $200k sell for $240k.
Posted on 1/19/22 at 10:42 pm to VolsOut4Harambe
Considering inflation is approaching 8% or more, it’s a pretty good deal to purchase a home with 3-3.5% mortgage paper.
Posted on 1/19/22 at 10:52 pm to VolsOut4Harambe
I remember when I was your age and I decided to wait it out in the Austin market. I paid twice as much three years later. My house is worth double that now.
It’s not slowing down in hot markets anytime soon. Even if it does slow, it certainly isn’t reversing course. Strike while interest is low.
It’s not slowing down in hot markets anytime soon. Even if it does slow, it certainly isn’t reversing course. Strike while interest is low.
Posted on 1/19/22 at 11:00 pm to transcend
Find a great paying job that you can work remote. Purchase a great priced house in the rural Midwest. Profit like crazy.
Posted on 1/19/22 at 11:11 pm to Klondikekajun
quote:
THIS... So have I missed something? Are these Millennials who are paying $750k for a house really making $250k/yr? Is it generational wealth? Has the ratio changed? I make what I consider good money, but I'm not dropping $750k regardless if the "ratio" says so.... ?????
Back in 2016 my wife and I, one year out of college and married 5 months, were approved for over $600k on our first home loan (not at all what we bought)The thought of paying that much for 30 years scared the everliving shite out of me. But I can just imagine kids just out of school putting themselves into that kind of debt.
This post was edited on 1/19/22 at 11:13 pm
Posted on 1/20/22 at 12:07 am to JohnnyKilroy
quote:
Yes they are.
That's like saying someone born in 1960 isn't really a baby boomer.
A 25 year old isn’t a millennial
Posted on 1/20/22 at 12:14 am to ithad2bme
quote:
Inflation is going to drive rates up from these historic lows, how much remains to be seen, but I remember my parents refinancing after Carter and the rate was still over 10%.
Go look what happened to rates in the 80s.
how much were homes worth in the 80s 
Posted on 1/20/22 at 12:15 am to LSUGrrrl
quote:
$499,000 for 860 sqft
That's an apartmrnt, you don't even get a yard!
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