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Message
re: Major social unrest is coming
Posted on 4/26/22 at 5:04 pm to RBWilliams8
Posted on 4/26/22 at 5:04 pm to RBWilliams8
quote:
My home appraised for 60k more in January since last April. That’s definitely a fricked up market to shoot up that much in less than a year.
Welcome to 2007.
It's a crap time to buy a house. That's not exactly a unique situation in our history; even our recent history. When it busts, hopefully within the next couple of years, there will be people who bought high and have to sell low, and that'll suck for them but be great for the 20-somethings entering the housing market. This is just life.
1
Posted on 4/26/22 at 5:08 pm to TigerOnTheMountain
Home prices only went full tard over the last three years. What are the millennials' excuses for why they weren't able to afford a house 4 years ago?
A: Student Loans
B: I want my parent's house, not a starter home
C: Suburbs are lame, but in-city homes in nice areas are too expensive
D: All of the above because millennials are the Victim Generation
A: Student Loans
B: I want my parent's house, not a starter home
C: Suburbs are lame, but in-city homes in nice areas are too expensive
D: All of the above because millennials are the Victim Generation
Posted on 4/26/22 at 5:12 pm to Gorlock
I think they are about to crash the markets and I think we are about to see nuclear war. To get a reset you have to burn everything to the ground.
Posted on 4/26/22 at 5:16 pm to Flats
quote:
When it busts, hopefully within the next couple of years
This seems different though. Prices are rising so much because of institutional investors like Blackrock paying 50% over appraisal in cash. Average people can't compete with that shite. When I was looking to buy my first house, I kept losing to smaller offers because they were cash offers. The biggest difference between now and 2008 is the number of cash offers. There is no fear of those loans defaulting obviously, because they aren't using loans.
It really is a shitty market to be a first time home buyer.
ETA: As for the rental market, I moved to Jacksonville three years ago and paid $849/month for a shitty, 685 sq ft apartment. I just looked up the price out of curiosity, and they're charging $1209/month for the same unit now.
If anyone knows Jacksonville, this apartment was in Southside. It wasn't in Town Center, Riverside/Five Points, San Marco, or the beaches, which are the parts of the city where most people would typically expect someone in their early 30s to move.
This post was edited on 4/26/22 at 5:43 pm
Posted on 4/26/22 at 5:20 pm to TigerOnTheMountain
quote:
If you don’t want to live in the ghetto, you don’t deserve to own a home you fricking MaRxIsT!!!!!11
Yup
Posted on 4/26/22 at 5:24 pm to VADawg
The market has us putting off at least another 3 years. Just gonna pour equity into what we have and pray like hell we see a buyer’s market again.
Posted on 4/26/22 at 5:29 pm to Eli Goldfinger
I mean have you seen rent prices these days? Something has to give before people just start living on the streets
Posted on 4/26/22 at 5:35 pm to LSUAlum2001
quote:
You know what prior generations did? Bought in the suburbs and made the long drive to work.
I get what you are saying, but try buying an affordable house in a decent suburb of Dallas, Atlanta, etc. Prior generations created the suburbs because the land was vacant and cheap. Today even the suburbs are full and there is a limit to how far one can drive to a downtown office.
Posted on 4/26/22 at 5:35 pm to Pelican fan99
Long term rentals are becoming a thing of the past in many areas. Why would I rent to you for $1500/month when I can rent to someone else short term for $1500/week for 24 weeks during peak season?
Posted on 4/26/22 at 5:46 pm to Gorlock
quote:
B: I want my parent's house, not a starter home
If anything, starter homes are where the real shortage exists. Developers stopped building starter homes decades ago, and the few 1950-80's style starter homes you can find are located in what are now the most desirable parts of town closer to the city.
Posted on 4/26/22 at 5:56 pm to MillerLiteTime
Something nefarious going on. Housing, groceries, the ability to survive. But the Elite aren’t breaking a sweat. 50 year politicians thanks to Dominion and ballot stuffing. You think these cocksuckers give a rat’s arse about you and your family?!
We’re living The Hunger Games.
We’re living The Hunger Games.
Posted on 4/26/22 at 6:00 pm to Eli Goldfinger
quote:
I bought my first home at 26, but there is no way I could do that today.
I bought my first home at 28.
It was 1050 sq ft, and on 1/5th acre lot.
Things I didn't own back when I bought my first home.
Cell Phones
Cable TV
Life Insurance
Health Insurance
A car that was newer then 15 years old.
Couldn't afford to eat out, go to the movies, go on vacation, etc, etc.
Posted on 4/26/22 at 6:03 pm to Bearcat90
quote:
Maybe they should consider buying a small "starter" house or even a trailer like all of us previous generations did.
Ok boomer…
The 1501 sq ft 3/2 starter house I bought for $120k at age 25 in 2012 sold last fall for $256k…
Posted on 4/26/22 at 6:08 pm to Eli Goldfinger
quote:
Major social unrest is coming
The entire world is entering a very dark period, and the demonic forces behind movements like transgenderism and pedophilia are gaining strength.
Unless there is a great revival and a turning back of hearts to God, things will only digress, until the man of sin is revealed.
Posted on 4/26/22 at 6:14 pm to CAD703X
quote:I only owe about 30k on my house so I'm probably not going to, but I could EASILY sell my house and pay cash for a really sufficient place.
this.
i found a house i could pay cash for using the science fiction price i got for my current house.
i'd rather not have a mortgage and have a more modest house in this crazy environment
Prices have gone crazy. CRAZY.
I paid 292k for my house 9 years ago, and the house across the street from me (same builder same sqft) just sold for 565k.
I make a decent salary nothing crazy, but saved a ton of money pre marriage and directly after before having kids.
If you're married, build your existence on 1 salary, not two. Mamas don't like to work after having kids. Pretty like her salary isn't there...put it straight in the bank. Do that for 6-10 years and it will make life a LOT easier in your 30s and 40s
Posted on 4/26/22 at 6:30 pm to YumYum Sauce
quote:
The fact that a 20 something thinks they deserve a 400k house is laughable
I dont know about "deserving" a house like that, but this won't get you that much house in a major metropolitan area. You definitely won't be able to find say a 1,750-2,000 Sq ft 3/2 br/ba house, in reasonable condition, in a decent (i.e., safe with good schools) area in a city like Houston, in this current market.
Like I said, I would not use the word "deserve," but if you are talking about the American dream, and finding a good place to start a family, I think OP has a point.
Posted on 4/26/22 at 7:06 pm to Pookers
The greed of Boomers is why we are where we are today
That's what laid the groundwork for the situation we now find ourselves in.
That's what laid the groundwork for the situation we now find ourselves in.
Posted on 4/26/22 at 7:08 pm to Eli Goldfinger
quote:
It’s the young folks I’m concerned for.
Don't be. They're fine, even if they don't know it.
Life is better and easier than it has ever been, all the whining aside.
Posted on 4/26/22 at 7:11 pm to VADawg
quote:
quote:
My take on it is that they aren't expecting a 400k house in their 20s, they're wondering why a house they should be able to afford in their 20s all of a sudden costs 400k.
Very, very well said.
It's like you guys think that by saying this over and over it'll magically become true.
The home your parents could afford in their 20's is not a $400K home today.
Moreover, how does this discussion sound if it was had five years ago? Ten years ago? Fifteen years ago? You guys are whining that a market that has a history of booms and busts has booms and busts.
Posted on 4/26/22 at 7:12 pm to Pelican fan99
quote:
Something has to give before people just start living on the streets
The current popular scam is people going after disability.
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