- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Winter Olympics
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Major social unrest is coming
Posted on 4/27/22 at 10:11 am to VADawg
Posted on 4/27/22 at 10:11 am to VADawg
Go check new foreclosures. Anyway Ive said my piece from personal experience. Yall keep burying your heads in the sand about whats coming. I would highly suggest not purchasing a home for the next 6 months. Yall have fun blaming the new generations instead of taking into account rising interest rates, upcoming foreclosures, a market that is about to be absolutely flooded with inventory and inflation. Like I said they didnt see it in 08 and you dont see it now but it's here and it's going to be real.
5
Posted on 4/27/22 at 10:20 am to lsusteve1
quote:
Elections have consequences
Look at the data on voting. Millennials don't vote nearly as much as their social media presence would have you think.
Posted on 4/27/22 at 10:22 am to Tider13
quote:
Yall have fun blaming the new generations instead of taking into account rising interest rates, upcoming foreclosures
I'm in your generation. I think the problems now and the problems in 2008 are much, much different. In 2008, people were getting loaned way, way more money than they should have been. When the bubble burst, they stopped paying, foreclosed, and the market crashed.
In 2022, a lot of the rising home prices are because of companies like Blackrock coming in and buying houses for 50% above appraisal value in cash and waiving inspections. The cash houses are paid in full up front, so there is no concern about them being foreclosed. That is why I think this feels more permanent than 2008 did.
Posted on 4/27/22 at 10:30 am to VADawg
quote:
That's kind of the whole point of this thread. Those "modest starter homes" are a whole hell of a lot more expensive than most people realize they are.
The other point of the thread is the “modest starter home” of today was a home appointed like a custom home 50 years ago.
Posted on 4/27/22 at 10:32 am to Tider13
quote:
a market that is about to be absolutely flooded with inventory
I’m not sure about this one.
There are more lookers than there are homes.
I’m not totally disagreeing, but I would like to know how you think this sudden glut plays out.
Posted on 4/27/22 at 10:37 am to Tider13
quote:personally, i'd like to see this happen, but i don't think it will. how do you think this will happen?
a market that is about to be absolutely flooded with inventory and inflation.
Posted on 4/27/22 at 10:38 am to Eli Goldfinger
Foreclosure proceedings have jumped 5x in the last 3 months, new construction has been ramping up since October and are starting to finally catch up as those homes are being completed couple that with less buyers in the market due to interest rates doubling in the last 3 months all leads to too much inventory which means, typically, to an emerging buyers market meaning prices coming down. As a matter of fact home prices have dropped about 10% in the last 2 months.
This post was edited on 4/27/22 at 10:39 am
Posted on 4/27/22 at 10:43 am to David_DJS
quote:
The other point of the thread is the “modest starter home” of today was a home appointed like a custom home 50 years ago.
This may be the perception, but it’s not necessarily true.
A starter home built in 1965 would likely have windows on all exterior walls of a bedroom, would have millwork trim around all windows & doors, and would likely have real wood floors. Also, they would more than likely have a tiled bathroom.
Most new construction only have windows on 1 br wall and all windows & transitions just have finished drywall. The bathroom would be linoleum and a shower insert.
Posted on 4/27/22 at 10:53 am to Tider13
quote:
less buyers in the market due to interest rates doubling in the last 3 months all leads to too much inventory
I guess this is what I don’t agree with.
Rising rates SHOULD slow buying, but it doesn’t seem to be having much of an impact yet. Certainly not on “hot markets”.
There are simply more folks wanting to buy than there is inventory. This is especially true with “starter homes”.
Posted on 4/27/22 at 11:01 am to Eli Goldfinger
This post was edited on 4/27/22 at 12:56 pm
Posted on 4/27/22 at 11:01 am to VADawg
quote:
quote:
We bought our first house in 95 (we were both 27). 3br 2.5 bath, new construction for 129k at 6%. We could have bought "more" house, but didn't want to be strapped.
This is not the thinking these days.
What is that same house going for these days? Something close to $300K? $300K for a starter home is just the reality of the market right now.
sold it in 2012 for $185k. current redfin estimate is about $257,500.00 - for a 27 year old house that's just over 1900 sq
Posted on 4/27/22 at 11:07 am to Tider13
quote:
Go check new foreclosures. Anyway Ive said my piece from personal experience. Yall keep burying your heads in the sand about whats coming. I would highly suggest not purchasing a home for the next 6 months. Yall have fun blaming the new generations instead of taking into account rising interest rates, upcoming foreclosures, a market that is about to be absolutely flooded with inventory and inflation. Like I said they didnt see it in 08 and you dont see it now but it's here and it's going to be real.
Look at that chart, in the runup to lehman collapsing in 2008, inventory is double what it is now.
You can't have a housing collapse unless demand falls, or air bnb is deemed illegal.
Posted on 4/27/22 at 11:16 am to udtiger
quote:
sold it in 2012 for $185k. current redfin estimate is about $257,500.00 - for a 27 year old house that's just over 1900 sq
Would y'all have been able to buy that same house for $257,500 when you were 27 back when you were making closer to an entry level salary? Because that's what first time home buyers are facing right now.
Posted on 4/27/22 at 11:19 am to Tider13
quote:
Yall have fun blaming the new generations instead of taking into account rising interest rates, upcoming foreclosures, a market that is about to be absolutely flooded with inventory and inflation. Like I said they didnt see it in 08 and you dont see it now but it's here and it's going to be real.
Which only drives home the point I've been making. I'm not blaming any generation, I'm just saying what you're going through isn't anything special. The boomers didn't cause it, it's not unprecedented, some people will benefit from it, some people will lose money.
Welcome to life; it comes at you fast sometimes.
Posted on 4/27/22 at 11:20 am to VADawg
didn't we conclude yesterday that there are cheaper housing out in the burbs?
Posted on 4/27/22 at 11:21 am to Eli Goldfinger
quote:
A starter home built in 1965 would likely have windows on all exterior walls of a bedroom, would have millwork trim around all windows & doors, and would likely have real wood floors. Also, they would more than likely have a tiled bathroom.
Where is this 1965 home with custom millwork and hardwood floors and tile? You need to go back a lot further than 1965 for what you're talking about.
Posted on 4/27/22 at 11:24 am to Chicken
quote:
didn't we conclude yesterday that there are cheaper housing out in the burbs?
He was saying he bought his starter home in 1995 at $129K. My response is that exact same home would be out of his price range if he was looking for a starter home today. The home price doubled, but I guarantee you that the salary for his position in 1995 has not even remotely close to doubled, and this is a major problem that first time home buyers are running into.
Posted on 4/27/22 at 11:27 am to Flats
quote:
Where is this 1965 home with custom millwork and hardwood floors and tile? You need to go back a lot further than 1965 for what you're talking about.
My 2nd home was an 1100sf rancher built in 1962. It has all of these things.
Also, I didn’t say “custom millwork”.
“Contractor grade” from 1950-1979 was much nicer than contract grade from 1980-now.
Posted on 4/27/22 at 11:29 am to VADawg
quote:
quote:
didn't we conclude yesterday that there are cheaper housing out in the burbs?
He was saying he bought his starter home in 1995 at $129K. My response is that exact same home would be out of his price range if he was looking for a starter home today. The home price doubled, but I guarantee you that the salary for his position in 1995 has not even remotely close to doubled, and this is a major problem that first time home buyers are running into.
we could have afforded more on our salaries back then. certainly, they would not have matched the increase in the price, but at what our jobs (then) paid with the level of experience we had, we could afford that house at that price.
That said, I get what you are saying, but there are new houses out there (and, certainly, older/existing) in the 200-$250k range that are attainable with the current rates. But, a lot (not all, but a lot) are looking for their first home to have everything that most people's "forever" homes have.
Posted on 4/27/22 at 11:30 am to udtiger
The left isn’t going to just except this Elon Twitter buy without a fight - they want thought control and will create mass civil unrest to keep it.
Buckle up
Buckle up
This post was edited on 4/27/22 at 11:31 am
Page 25 of 26
Popular
Back to top
Follow TigerDroppings for LSU Football News