It's over for rent-cels, there's no crash coming and you'll never be able to own. I have a mortgage at a rate of 3.65%. I can assure you I currently have no desire to sell my home at this time.


https://investors.redfin.com/news-ev...te%20brokerage.


SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) — The total worth of U.S. homes hit a record $46.8 trillion in June, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. This overtakes the prior all-time high of $46.6 trillion set a year earlier, as a shortage of homes for sale propped up housing values.

The value of U.S. homes rose 0.4% ($166.2 billion) from a year earlier in June and 19.1% ($7.5 trillion) from two years earlier. The housing market has now offset the $2.9 trillion decline in value—set off by rising mortgage rates—that occurred from June 2022 through February 2023.

It’s not timing the market, it’s time in the market

I’m just gonna keep sitting here reminding people about inflation just like I did when everyone was starting to freak out last year.

300k right now is less than 300k of last year. The difference in purchasing power of 300k is the loss in value, you don’t actually need the price to go down when inflation has been jacked up like this. Will you fgts ever figure it out.

discuss

Oh reeeeeeealy?!?

https://fred.stlouisfed.org/series/MSPUS

Nice chart.

Last little peak was $337,900 at the end of 2017.




Inflation calculator w/current median [$416K] adjusted to 2019:




Kind of flat, yes? Not upside down, but not as large of a real gain as it might appear.

Finally make it to 6 figure salary just for it to still be lower class, fml

2.6 interest rate, will never sale my home at that rate. Will rent it out when I’m looking to upgrade lol

Feels.

If I had my income in 2018 I'd probably have a paid off house by 2023. Srs. Instead I'm still a rentcel HOPING I can get a decent house in 2024/2025 at likely $3k-3.5k PITI.

Gee I wonder where all that covid money went.

2.25% crew

What do you call an entity tha doesn't need a single house to live in, and buys all of the houses available, in a society where millions of people need to live in houses

Yeah that only works favorably when you're also earning more at the rate of inflation. Otherwise you're just as broke. Actually more broke because you're spending more on the necessities first and can't save for the house.


If you look at the last time there was a spike of inflation from 1976 to 1980, there was also a subsequent increase in median earnings from 12,685.91 in 1976 to 17,709.98 in 1980. That's a 41% increase in pay to offset a roughly 44% inflation rate increase over that same period.


Right now you aren't getting paid more even with inflation happening the last few years so you're still taking the L big guy

2.8 and same. As it is right now if I were to rent my house I could profit around $1800 per month after all expenses are paid.



I already know this isn't going to be my forever house. Will be getting married soon. Once that happens gonna put a juicy down payment on a lake-house. I figure we can hit it at least one weekend a month and will VRBO it the other three weeks per month.

Then eventually we'll start looking for some land to build our ideal house. We'll be getting her parents house in about 10 years and she already has a rent house so well on my way to graduating from being a land-chad to being a land-lord.



I almost feel bad for the cucks that thought they were going to wait the real estate market out and buy cheap after a big crash. But then I remember how smug they were making countless posts praising the money they are saving/investing as a renter and talking about how under-water homeownercels would be after a crash. Renters should still be happy right? They are saving investing tons of money and will win in the end.

Never started for rentcels. Owning is the bare minimum in 2023. The bar is on the ground.

People talking about the low rates they've locked in for three decades is exactly why unemployment would need to go up to spur real price drops and bring US inflation down to the target range

If everyone is still employed and making money, the wheel will continue turning and mortgage payments will be the last thing people stop making

Unemployment is rising though. Also, another big catalyst for price drops is loss of liquidity in the mortgage markets, which is already underway. Not so much for the GSE mortgages, but anything else has much tighter lending standards already.