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re: WSJ: There’s Never Been a Worse Time to Buy Instead of Rent (Housing Market board)
Posted on 10/23/23 at 1:43 pm to H2O Tiger
Posted on 10/23/23 at 1:43 pm to H2O Tiger
quote:
We bought in July of 2022
Bad timing and not to mention the exorbitant property taxes for Travis county. I know some people paying over $1,000 a month in property taxes.
3
Posted on 10/23/23 at 1:51 pm to Paul Allen
We're paying over $1000 a month and TCAD raised our appraisal value tens of thousands of dollars this year.
Posted on 10/23/23 at 3:22 pm to PeteRose
quote:What do you think owning something means? Do you think it means you’re either immortal or you take the possessions into the afterlife?
We just temporarily hold our possessions until we die.
Posted on 10/23/23 at 3:56 pm to Dire Wolf
It is still difficult to find workers. Good luck if the housing market gets hot.
Posted on 10/23/23 at 4:07 pm to Paul Allen
quote:2021 was peak covid asset bubble. Why are you comparing it to that?
Days on the market are substantially more than in 2021.
Posted on 10/23/23 at 4:08 pm to OweO
quote:nah
If you rent, you don't own. You don't own, that leaves more for them to own.
Posted on 10/23/23 at 4:08 pm to Paul Allen
quote:We'd have to know the denominator to know if this is noteworthy or not.
I know some people paying over $1,000 a month in property taxes.
Posted on 10/23/23 at 4:19 pm to Big Scrub TX
quote:
We'd have to know the denominator to know if this is noteworthy or not.
An averaged size house in Austin/Dallas/Houston proper will probably be north of $1000 a month in property taxes as you're at roughly a $550-600k home valuation to be in that range.
Posted on 10/23/23 at 4:43 pm to H2O Tiger
quote:So 1.5-2% property tax in a no-income-tax state? Doesn't seem that bad to me.
An averaged size house in Austin/Dallas/Houston proper will probably be north of $1000 a month in property taxes as you're at roughly a $550-600k home valuation to be in that range.
Posted on 10/23/23 at 4:47 pm to Paul Allen
quote:
We bought in July of 2022
Got a much better rate than today.
Posted on 10/23/23 at 4:48 pm to Dire Wolf
The government wants to eliminate the middle class like most other countries. Only the elite (less than 1% of the population) should own everything.
Posted on 10/23/23 at 4:50 pm to tiggerthetooth
For most people under the age of 30 (and single people that are older than that) it is smart to rent. You are paying for a place to live. This idea that you are somehow burning money by renting instead of paying into a mortgage is insane IMO
Posted on 10/23/23 at 5:00 pm to justaniceguy
quote:
For most people under the age of 30 (and single people that are older than that) it is smart to rent. You are paying for a place to live. This idea that you are somehow burning money by renting instead of paying into a mortgage is insane IMO
As a single 30s guy that bought i house, this is 100% true.
Just take the amount of money you would have been paying toward your principle and put it in a housing index fund and you can ride the prices the same as everyone else.
Posted on 10/23/23 at 5:04 pm to Dire Wolf
I know things are bad, but it's hard for me to believe it's the worst time to buy a house. Interest rates are nowhere near the 18 percent they were under Carter.
Posted on 10/23/23 at 5:06 pm to mtntiger
quote:
I know things are bad, but it's hard for me to believe it's the worst time to buy a house. Interest rates are nowhere near the 18 percent they were under Carter.
Prices actually responded to interest rates then.
Homes were cheaper.
Posted on 10/23/23 at 5:13 pm to PrecedentedTimes
quote:
Some of those who bomb churches
Are the same that raise mortgages
RATM wishes they were this based
Posted on 10/23/23 at 5:17 pm to coffeesmeller
quote:
who is they
Bernie Horowitz
Posted on 10/23/23 at 5:23 pm to Big Scrub TX
quote:
So 1.5-2% property tax in a no-income-tax state? Doesn't seem that bad to me.
Travis County tax rate is right about 2.2%, not bad considering there's no state income tax
Posted on 10/23/23 at 6:43 pm to H2O Tiger
quote:
averaged size house in Austin/Dallas/Houston proper will probably be north of $1000 a month in property taxes as you're at roughly a $550-600k home valuation to be in that range.
Good GAWD that is theft. My house is 550-600k in SC and less than 2k per year.
Posted on 10/23/23 at 6:58 pm to justaniceguy
quote:
For most people under the age of 30 (and single people that are older than that) it is smart to rent. You are paying for a place to live.
Exactly. Once you settle down in your job and personal life, get some stability and figure out where you want to live then you look at buying.
People are looking at the last 8 years or so and think that’s the norm. We’re obviously in a massive asset bubble and when it corrects it’s going to be a doozy. There were a shitload of people that overpaid prior to 2008 that were instantly upside down in their houses.
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