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Posted on 10/31/21 at 3:32 pm to Figgy
It will get to the point that multiple people will have to purchase a house or land.
Renting is a scam because you will never own it.
Renting is a scam because you will never own it.
Posted on 10/31/21 at 3:33 pm to olemc999
While the appeal is there to many, the depreciation over time is based on a perpetual deterioration that is inherent in all trailers, RVs, campers.
They all go to shite rapidly - and most buyers have mortgage like debt on a rapidly depreciating asset. The step into a house, even a ratty little house is a much better proposition..
They all go to shite rapidly - and most buyers have mortgage like debt on a rapidly depreciating asset. The step into a house, even a ratty little house is a much better proposition..
This post was edited on 10/31/21 at 7:43 pm
Posted on 10/31/21 at 3:39 pm to JJJimmyJimJames
They are junk and if you want to get parts for them then you won't find them at the local walmart. Only certain RV places have them and because of the lack of competition, they jack up the prices. The same with mobile homes.
Posted on 10/31/21 at 3:41 pm to Bass Tiger
quote:
I can tell you in the KC metro it’s 90% large multi unit apartment complexes. Most of these developments are at minimum 500-1000 units with some retail and leisure components as part of the project. The cheap money has pushed single family home prices through the roof and the big Real estate investment corporations have stepped in to fill the gap with these huge multi unit apartment complexes. What’s also messed up is upwards of 20% of single family home sales are being bought by real estate investment companies which also helps to inflate single family home prices and that conveniently drives people to their large multi unit apartment complexes…..lol!
These places are a few section 8's away from being projects filled with gunshot victims.
Posted on 10/31/21 at 3:44 pm to ApexTiger
quote:
what is next trend in homebuilding?
Soviet Brutalist
It will accurately reflect the direction the country is headed
Posted on 10/31/21 at 3:44 pm to MeatCleaverWeaver
quote:Hell, that's a great deal even by Indiana standards.
$550,000 for a 3000 sq foot remodeled house on 100 acres and 2 pristine ponds. They had to think they were getting away with highway robbery by California standards
Posted on 10/31/21 at 3:47 pm to ApexTiger
quote:That might have some good effects. I don't know if the good would outweigh the bad, but it seems to me it would make geographic mobility a lot easier for a lot of people if we could avoid the hassles involved in home buying and selling. (as long as there is enough supply to make moving and renting feasible).
Black Rock is buying up entire subdivisions above asking price with the intention of renting to the middle class.
Posted on 10/31/21 at 3:50 pm to BamaCoaster
quote:
This will never, ever, ever happen.
Fed will never raise rates again.
I tend to agree with this but how will they stave off inflation without raising rates?
Posted on 10/31/21 at 3:50 pm to Bass Tiger
quote:
What’s also messed up is upwards of 20% of single family home sales are being bought by real estate investment companies which also helps to inflate single family home prices
I can attest to that for KC market. Sold 4 rentals this year. Sold a 3 bed 1 bath slab home in Ruskin for 145k!!! Ridiculous...The hedge hund rented it for 1,280 / mo.
Thats freaking nuts!!
Posted on 10/31/21 at 3:55 pm to ApexTiger
quote:
1. Larger homes so more family members can live under one roof? 2 or more paying the mortgage
We know several families who are doing this now, including ours.
quote:
2. or Tiny homes?
I hope that trend is over and done. One family I saw on the tiny home series sold their 3500 sf homes and all their belongings, and they moved into something like 350 sf with several kids!
quote:
3. More renting? Black Rock has already acquired 9 Trillion in assets
Black Rock is buying up entire subdivisions above asking price with the intention of renting to the middle class
Black Rock will make a killing once rates go up and no one can afford to buy. There's a group (might be Black Rock) that built an entire subdivision nearby, single-family houses, around 1400-1600 sf, rent starting at over $2000/mo, and they're having no problem getting renters.
quote:
35 years ago we had interest rates north of 10%...
We bought a house back then and paid $38,000. We made the mistake of renting it out starting in 2004, finally sold it in March of this year. The buyers could barely afford the purchase even at the low interest rates. We ran into them a couple months ago...they have 2 roommates and are looking for another.
It's getting pretty bad.
Posted on 10/31/21 at 4:00 pm to SDVTiger
quote:It is mind blowing that there are people oblivious enough to think the FED will raise rates within the next 18 months.
They are going raise them end of the year
Posted on 10/31/21 at 4:13 pm to fjlee90
quote:As a realtor, I’m going to catch a lot of hate from fellow realtors.
I’ve decided that when I sell I will not use a realtor and have direct interaction with the buyer.
You can FSBO if you do your homework and you’re smart. Be prepared to pay an agent fee on your buyer, but never forget you can negotiate a rate.
I’d recommend using a realtor if you’re in a crunch time wise to sell. Again negotiate the rate. I’ve done them for 1%. Which again makes other realtors hate me, as if I cared they do.
Posted on 10/31/21 at 4:21 pm to ApexTiger
I think the Fed will be extremely reluctant to raise rates, and there’s essentially zero chance it happens before the mid-terms.
I’m seeing two things in housing right now as far as new construction.
The shotgun house. Small bedrooms, .2 acre or so lot size. Lots of those ongoing, probably 5-1 as many or more of option 2.
Higher middle class housing. 350-500k . Half acre or so size lots, 2000-3000 square feet. Good school zones. I’m selling 3 of the latter this week, and 2 of the first in 3 weeks.
Outside of those two, at least from my perspective the market is softening.
I’m seeing two things in housing right now as far as new construction.
The shotgun house. Small bedrooms, .2 acre or so lot size. Lots of those ongoing, probably 5-1 as many or more of option 2.
Higher middle class housing. 350-500k . Half acre or so size lots, 2000-3000 square feet. Good school zones. I’m selling 3 of the latter this week, and 2 of the first in 3 weeks.
Outside of those two, at least from my perspective the market is softening.
Posted on 10/31/21 at 4:27 pm to BamaCoaster
quote:
Fed will never raise rates again.
It is inevitable.
Posted on 10/31/21 at 4:29 pm to ApexTiger
High density housing is what the left is pushing for.
Posted on 10/31/21 at 4:30 pm to DMAN1968
Been thru it before. Prices out of site. Interest very high, then a slown down . Ain’t fun
Posted on 10/31/21 at 6:34 pm to ApexTiger
Black Rock going full Agenda 2030 
aka Great ReSet
Never Let a Good Crisis Go to Waste....You Will Own Nothing and Be Happy
aka Great ReSet Never Let a Good Crisis Go to Waste....You Will Own Nothing and Be Happy
Posted on 10/31/21 at 7:01 pm to deltaland
quote:
Soviet Brutalist
I always thought it fitting that Stasi’s — er — I mean the FBI’s Headquarters was built in the Brutalist style.
Posted on 10/31/21 at 7:46 pm to ApexTiger
These people that are overpaying will be stuck with these homes once rates go up. No one is going to give you the 30% you overpaid.
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