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Forum » If you bought house between 2019 would you rope?
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Thread: If you bought house between 2019 would you rope?

post 1668585703 09-28-2022, 02:37 AM
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#31
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Originally Posted By ooph⏩
Doesn't know what an appraisal is.

Yes my appraisal price is not the real value then.

LMAO.


Stay poor, poorcel.

I'll keep living the dream in my 1.5m house.




Hnnnnng.
Appraisal from an agent who wants your Liditint and did a 3 week course hahaha.

You guys have no idea what your in for. I hope you can hang on but history tells us many are forced to sell
post 1668593183 09-28-2022, 07:26 AM
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#32
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Originally Posted By ooph⏩
I bought my house Nov 2019... Paid $615k. House is worth 1.4-1.5m. Dang.
why wood your house increase in value like that
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post 1668593293 09-28-2022, 07:27 AM
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#33
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My boss just sold for a nice 7 figure gain. LOL at not owning RE
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post 1668593363 09-28-2022, 07:29 AM
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#34
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Originally Posted By Kev1972⏩
Regardless of the value of your house, your payment is staying the same. Meanwhile, inflation will put more money in your pocket through cost of living raises, since it hits everyone equally. Now you have many more dollars to spend, but your housing costs never increase. Unlike rentcels.

So if you are locked in at 3% you have a significant advantage over the rentcels who will be paying at least 7%. Maybe much, much more. I hope it goes back up to 18 percent.

Rentcels, when will they lern?
"Meanwhile, inflation will put more money in your pocket through cost of living raises"

Lol, please read this again and tell me if you really believe it. There will not be any housing inflation. That only happens when interest rates are decreasing. Not increasing significantly.

Inflation isn't putting any extra money in anyone's pocket, especially homeowners.
post 1668593843 09-28-2022, 07:38 AM
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#35
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Originally Posted By OliverHeldens⏩
"Meanwhile, inflation will put more money in your pocket through cost of living raises"

Lol, please read this again and tell me if you really believe it. There will not be any housing inflation. That only happens when interest rates are decreasing. Not increasing significantly.

Inflation isn't putting any extra money in anyone's pocket, especially homeowners.
You don't seem to understand inflation. Maybe you're a little lacking in cranium capacity.

Inflation is across the board. Everything goes up. Even the cost of your labor.

So if your mortgage is 25% of your take home pay, and your take home pay increases 20% due to inflation, guess what doesn't increase.
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post 1668595683 09-28-2022, 08:08 AM
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#36
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Originally Posted By Kev1972⏩
You don't seem to understand inflation. Maybe you're a little lacking in cranium capacity.

Inflation is across the board. Everything goes up. Even the cost of your labor.

So if your mortgage is 25% of your take home pay, and your take home pay increases 20% due to inflation, guess what doesn't increase.
property taxes and insurance can go up though
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post 1668596013 09-28-2022, 08:15 AM
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#37
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Bought my house in 2010 for about 1/3rd of its current value. Refi'd on the way down to a 2.89%.

post 1668598603 09-28-2022, 08:59 AM
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#38
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Originally Posted By solidus2k3⏩
property taxes and insurance can go up though
Property taxes will actually go down as homes devalue lol.

Lower mortgage payment, while inflation wrecks rentcels.
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post 1668608423 09-28-2022, 11:33 AM
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#39
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Originally Posted By GeezersPalace⏩
Appraisal from an agent who wants your Liditint and did a 3 week course hahaha.

You guys have no idea what your in for. I hope you can hang on but history tells us many are forced to sell
Appraisal from an agent?

Breh.

I refi'd my house, you understand they do an appraisal then correct? Ho lee fuk you're dumb.

Why would someone be "forced to sell" when property values go down? Please explain. Once you attempt, I'll actually give you a history lesson as to why.


Hang on? To a $3k/mo mortgage when I make $400k+/yr?

I hope I survive this, because what if I had to pull the $ out and pay off my $480k left on my mortage? Oh noooo! It would be the end of me.
Originally Posted By theory816⏩
why wood your house increase in value like that
I bought it right before property values really started to increase (pre covid), bought it private party from a elderly couple that had let the house sit empty for the last couple of years. Spent about $195k out of pocket on remodel (good friend owns a massive construction company and did trade work to get all the work done for me).

Posted some before/after shots somewhere on the forums.
post 1668608533 09-28-2022, 11:35 AM
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#40
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Originally Posted By GeezersPalace⏩
Jsut lol I locked in 3 percent rate but my house that I bought for 600k is now worth 300k which is really 150k with inflation.

Just lol if you feel for the sub prime chit in last year or so lol
sure buddy i'll take that off your hands for you at 350k no problem

your house didn't devalue from 600k to 300k lmao, unless you bought in the middle of a volcano
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post 1668608713 09-28-2022, 11:38 AM
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#41
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Originally Posted By solidus2k3⏩
property taxes and insurance can go up though
Which means rent goes up....derp
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post 1668608873 09-28-2022, 11:40 AM
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#42
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Paid inflated price for the house I bought in 2019, but received inflated price for the house I sold in 2019. Interest rate below 3%. Not seeing the reason to purchase rope yet.
post 1668609053 09-28-2022, 11:41 AM
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#43
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It should have been obvious what would happen back in 2020, but they doubled down in 2021.

The smart ones bought their homes between 2012 - 2017, sold in 2021, and rent now with cash in hand.
post 1668609093 09-28-2022, 11:42 AM
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#44
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Originally Posted By ToxMasculinity⏩
There's no way your house devalued that fast, unless you're a complete moron. Right now if you bought a house at a high price with a low interest rate, you're monthly payment is still significantly lower than if someone were to buy one now at a high interest rate.

Your point is retarded/end thread (Ded fkn Srs)
You shouldn’t be looking at a supposed asset on the monthly payment…

Especially, when a home is the largest asset for most families…
post 1668609253 09-28-2022, 11:46 AM
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#45
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Originally Posted By Kev1972⏩
Regardless of the value of your house, your payment is staying the same. Meanwhile, inflation will put more money in your pocket through cost of living raises, since it hits everyone equally. Now you have many more dollars to spend, but your housing costs never increase. Unlike rentcels.

So if you are locked in at 3% you have a significant advantage over the rentcels who will be paying at least 7%. Maybe much, much more. I hope it goes back up to 18 percent.

Rentcels, when will they lern?
Most people are not getting an 8.5% COLA…

Average wage increase is 3%…
post 1668610933 09-28-2022, 12:14 PM
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#46
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Originally Posted By MuscleXtreme⏩
Most people are not getting an 8.5% COLA…

Average wage increase is 3%…
Was 3%. COLA is going to go up to match inflation. That's the whole purpose behind it.
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post 1668612033 09-28-2022, 12:33 PM
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#47
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I cannot even fathom the amount of retardation in this thread...There are so many absurd posts with extreme misinformation and we're only two pages in....

My house has gained 40% + value in just over two years on a 2.99 / 30 year fixed with property tax and insurance only going up $1800 this year which = $150 per month extra payment. Oh no I have to pay more! Actually NO I don't...

This is where the magic happened....I went from being able to rent a room out for $1000 a month two years ago and now I can get $1500 a month per room.

Inflation + all this other fukery HELPED me make MORE money since I own.

You rentcel clown copers have to be trolling.
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post 1668614003 09-28-2022, 01:05 PM
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#48
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Originally Posted By Anachron⏩
Don't bother with him, he's a bitter rentcel - said cash reserves are non-existent.
You are confusing me with someone else, I don't recall ever saying anything related to that. I never understood why people choose to troll on a bodybuilding forum, ever heard of reddit?

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post 1668615163 09-28-2022, 01:26 PM
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#49
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Originally Posted By Kev1972⏩
Was 3%. COLA is going to go up to match inflation. That's the whole purpose behind it.
Not going to happen.

Especially once unemployment rates starting going up in Q4/Q1. Fed has already said they’re expecting a 70 BPS increase in unemployment.
post 1668615323 09-28-2022, 01:28 PM
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#50
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Originally Posted By dopamine72⏩
I cannot even fathom the amount of retardation in this thread...There are so many absurd posts with extreme misinformation and we're only two pages in....

My house has gained 40% + value in just over two years on a 2.99 / 30 year fixed with property tax and insurance only going up $1800 this year which = $150 per month extra payment. Oh no I have to pay more! Actually NO I don't...

This is where the magic happened....I went from being able to rent a room out for $1000 a month two years ago and now I can get $1500 a month per room.

Inflation + all this other fukery HELPED me make MORE money since I own.

You rentcel clown copers have to be trolling.
Your home was overvalued. Which is the point of this thread. It is not going to sustain that.

No one is talking about your monthly payment…
post 1668615373 09-28-2022, 01:29 PM
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#51
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I personally hope mortgage rates go up into the 30-60% range (100% srs)
post 1668620163 09-28-2022, 02:54 PM
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#52
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Originally Posted By northernlights7⏩
Bought my house in the mid-2010's when prices were still reasonable. Refiananced it to a sub-3% mortgage in 2021. The fact that I own that house after having been so lucky on both ends of it like that was the first major W of my life.
brah i did the same thing. Got my 4.25% 30 year down to a 2.75% 15 year fixed on my primary residence lmao
This fool's running a Honda 2000
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