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Forum » If you pay more than the asking price for a house, then you are an absolute potato
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Thread: If you pay more than the asking price for a house, then you are an absolute potato

post 1642352763 07-07-2021, 02:05 PM
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#31
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Originally Posted By lockdev⏩
Who needs appraisals when you're removing the contingency?

Bag holders gonna bag hold.
Well if you're paying way more than appraised value I don't know if that's a good idea
post 1642352793 07-07-2021, 02:06 PM
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#32
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People paying over MSRP for cars now. I am not talking limited cars, I am talking pile of chit econoboxes. LOL.
“In addition to his other Asiatic characteristics, the Russian has no regard for human life and is an all out son of bitch, barbarian, and chronic drunk.”

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post 1642352803 07-07-2021, 02:06 PM
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#33
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Originally Posted By BLOATMOGGER⏩
The "inflation" narrative died about a month ago. Look at long-term bond rates, they've been falling quite a bit.

Face it, the Fed was right. Their huge giveaway to the rich and upper-middle class hasn't resulted in significant inflation.
Just Google "inflation" and click on news stories. All but one on the first page essentially say, "inflation is here and it's worse than the Fed is letting on."

These are all articles written within the last day. So is BLOATMOGGER correct, or are Fortune, WSJ, MarketWatch, Bloomberg, Reuters, and the NYT wrong?

Even the one odd ball, Yahoo Finance, essentially admits that inflation isslowingbut still way higher than expected.
post 1642353063 07-07-2021, 02:09 PM
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#34
  1. rectifryer
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This market is entirely panic buyers. The same people who say otherwise will turn around and talk about how inflation makes it a deal, unironically, while ignoring that the cash flow doesn't come from jobs that pay more but from INSANE lending practices enabled by govt backed securities which leave no incentive for banks to be selective in underwriting.

And now 10yr bonds are on the way up, lumber has crashed, demand is down, supply is up....

All during what should be the busiest real estate month of the year...

Bag holders gonna hodl
Boycott foodservice industry crew
post 1642353283 07-07-2021, 02:13 PM
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#35
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Originally Posted By BLOATMOGGER⏩
Strong understanding of economics

If you understand the first thing about economics you would realize inflation and employment are positively correlated in every single economic theory.

More employment = more inflation. So the exact opposite of what you described.

If you walked outside you would realize this is what is playing out right now. We're having moderate inflation, and companies are having to beg people to come back to work.
Only because the government is propping it all up with non-existent funds. You’re the one that doesn’t understand economics if you think this is sustainable at all in the long term
post 1642353463 07-07-2021, 02:15 PM
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#36
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Originally Posted By Leonydus⏩
i'd bet on housing becoming free for all before i bet on 100million people being kicked out
post 1642353873 07-07-2021, 02:22 PM
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#37
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if you're gonna stay in there for 2-5 years and it goes up 10-25% then you won

in on a rentcel cope thread
Trump 2024

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post 1642354083 07-07-2021, 02:24 PM
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#38
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Originally Posted By TuskV⏩
if you're gonna stay in there for 2-5 years and it goes up 10-25% then you won

in on a rentcel cope thread
By what mechanism do you suppose there is 10-25% upside?
Boycott foodservice industry crew
post 1642354263 07-07-2021, 02:28 PM
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#39
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LOL @ all of the doom and gloom people. Prices are not going to go down anytime soon.
post 1642354443 07-07-2021, 02:30 PM
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#40
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Originally Posted By FrankGrimesJr⏩
LOL @ all of the doom and gloom people. Prices are not going to go down anytime soon.
This is exactly the mentality needed for the market to take a down turn. Surely paying $60K over asking on a $450K property isn't normal or sustainable.
Your schtick sucks and it screams insecurity.
post 1642354873 07-07-2021, 02:35 PM
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#41
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Originally Posted By Dan_S⏩
It's weird that people don't understand trying to buy right now.

We're potentially facing unprecedented inflation. Our currency could be devalued so much that suddenly "overpaying" by 20% will seem like a bargain.

There's no reason to believe this "bubble" is in fact unsustainable.
That's the lie they sell you in order for you to become a slave to your mortgage srs
Your schtick sucks and it screams insecurity.
post 1642355543 07-07-2021, 02:46 PM
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#42
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Originally Posted By digital022⏩
This is exactly the mentality needed for the market to take a down turn. Surely paying $60K over asking on a $450K property isn't normal or sustainable.
I'm in the paid $50k under asking for a house crew. But paying $200k-$300k over asking for a $1 million house is normal here (Northern California).
post 1642356953 07-07-2021, 03:04 PM
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#43
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Originally Posted By BLOATMOGGER⏩
It's been sustained for the past 30 years.

There's no reason to think it will end before I die.
This is the hardest the money printer has ever been run, and the hardest itcanbe run. There is no more money that can be printed and no more rates that can be cut. Banks are giving $900B money printer bucks BACK to the Fed because the yield on more money printer dollars is actually negative. They won't even take free Fed money any more because it's just a liability.

So Fed brahs are pushing on a string now. They can inject inject inject all they want and it won't cause the economy to stimulate. The only direction the money supply can move now is downwards.
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post 1642357283 07-07-2021, 03:10 PM
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#44
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Originally Posted By JUGGERNAUT1333⏩
I fully agree OP, going to be a lot of people upside down on their mortgages in a few years.
and?
Originally Posted By digital022⏩
This is exactly the mentality needed for the market to take a down turn. Surely paying $60Kover askingon a $450K property isn't normal or sustainable.
key word
"It won't get better, just different."
post 1642357683 07-07-2021, 03:15 PM
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#45
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Originally Posted By BLOATMOGGER⏩
That's what they said in 2001, 2008, and 2011. I'm still waiting.
They're sitting on top of the Mt Everest of money printer cash right now. They've been climbing it for 30 years and finally got there... every direction from here only leads down.

What will happen is they're going to raise interest, the stock market will contract because it slavishly follows the total money supply (it's had zero growth outside of monetary inflation for the last 20 years) and RE brahs will panic. That much is a given.

Where the Fed goes after that is up in the air... maybe they come back to the summit and reduce the funds rate back to 0.05% after a couple months, maybe inflation is burning too hot for them to do it and they're forced to let things unwind without the "V shaped recovery" pump they've become known for.
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post 1642358103 07-07-2021, 03:21 PM
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#46
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Originally Posted By lockdev⏩
ded fuarkin srs.

Might as well let Remy the Realtor lube up you and your wife's balloon knots and let him take turns on you.

Cliffs: If a realtor says "bids due by xx/xx date", get the fuark out of there. Don't join the idiot parade with the other room temperate IQ morons.

in b4 salty bag holders
Facts, Especially when it's already overvalued. Had so many MOUTHbreather relators told me to BRING me BEST and highest by tonight lol at them trying to extort me HAD them also say they had tons of other people interested and HUGE bidding war

WALKED away ever time even had THEM begging me to resubmit my offer because THEY liked my JOOCY downpayment and LIMITED contingencies and FAST close ability PRE-approved as well.

Came in like 40k under on everything especially if it was on the market for more then a few weeks

Ended up paying a few grand under asking with some closing credits NOT as good as I wanted but some factors but my back against the wall happy all around seen 14k appreciation in a year NOT including all the renovations I have done which is like a 38% return on my down payment.


SRS.

Can't fathom HOW retards " OmG hUnNy We GoTtA oUt BiD tHeM iT's OuR dReAm HoUsE"

"It'S a SeLlErS mArKeT"

YOU have the money you can go wherever you want YOU have what they WANT, YOU are fixing their problem. THEY'RE stuck with a HOUSE they DON'T want ESSENTIALLY a problem I can fix but THEY think they CAN milk me like a DUMB cow just LOL.
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post 1642358193 07-07-2021, 03:23 PM
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#47
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just man up and buy and hold


"b-b-but its gonna crash man only dumbazzes buy" ... thats what everyone was saying 5-6 years ago. i told them to hop in and buy but they were too scared

now im up 500k and they are still trying to tell me its going to crash.


thats game for rentcels. its always been game for rentcels
Trump 2024

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post 1642371363 07-07-2021, 06:57 PM
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#48
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Originally Posted By TuskV⏩
just man up and buy and hold


"b-b-but its gonna crash man only dumbazzes buy" ... thats what everyone was saying 5-6 years ago. i told them to hop in and buy but they were too scared

now im up 500k and they are still trying to tell me its going to crash.


thats game for rentcels. its always been game for rentcels
lol

Breh, do you even 2005-2008?

Some of those idiots are just recently no longer underwater on their mortgage. Imagine not only owing $500k, but being 100k upside down, or not being able to sell for 10 fuarking years because of your ass brained FOMO driven mistake.
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post 1642371713 07-07-2021, 07:03 PM
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Paid 10k over ask but got them to include the furnishings. Place has gone up 700k since last October.
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post 1642373033 07-07-2021, 07:25 PM
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Lol at rentcel cope
Losers let it happen, winners make it happen.

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post 1642373633 07-07-2021, 07:35 PM
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#51
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joke is on op

imagine being able to buy a half a million dollar house and then stop paying rent as a homeowner and you get to live in the house free for 5 years and just make enough payments to string them along- all those people that got foreclosed on in 2008 were the real winners living rent free

the big investor robert kiwosaki types will still be fine because with a 40 year mortgage at a low interest with inflation their cost to pay back will be less and they can always rent it out anyway and honestly guys like kiowaski and trump own the banks because they are so leveraged so they could go bankrupt too and nothing will happen the banks will cater to them

the australian model is much better truthfully but if you know how to play the system the bubbles are a great system to get rich
post 1642383943 07-07-2021, 10:47 PM
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#52
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Just lol if you don’t form your own view of an asset value independent of the asking price

Some sellers are realistic and the ask gets bid up

Some sellers are delusional and have to accept an offer below ask

The question is how much does the buyer value the asset, not how much the seller wants
Originally Posted By JUGGERNAUT1333⏩
I fully agree OP, going to be a lot of people upside down on their mortgages in a few years.
Been hearing this for 20 years

Huge if true
post 1642387373 07-08-2021, 12:18 AM
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Originally Posted By r32gojirra⏩
Just lol if you don’t form your own view of an asset value independent of the asking price

Some sellers are realistic and the ask gets bid up

Some sellers are delusional and have to accept an offer below ask

The question is how much does the buyer value the asset, not how much the seller wants



Been hearing this for 20 years

Huge if true
For me I looked at quality of unit compared to asking price for instance if I saw dirt on the ceiling fan or near the vents maybe mix-matched doors or different faucets in each bath room and they WERE asking way to much comparative to similar priced units that were CLEARLY much nice which justified the higher price I would low ball HAAARD.
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