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Forum » I'm priced out of the housing market forever
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Thread: I'm priced out of the housing market forever

post 1445523673 06-02-2016, 01:42 PM
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Originally Posted By arn710⏩
I love when people up to their ears in a mortgage says this

What your house appraises for and what it sells for are two completely different numbers bro

Don't get cocky
TFW literal teardown next door sold for over 700k and the new owner already dumped $100k into it

TFW mortgage is 50% paid off because I'm not a retard and make great money
post 1445525653 06-02-2016, 01:52 PM
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Originally Posted By arn710⏩
I love when people up to their ears in a mortgage says this

What your house appraises for and what it sells for are two completely different numbers bro

Don't get cocky
In the bay area the houses regularly sell for $100k-$300k above the listed price because of bidding wars and foreign investors that come in with insane 100% cash offers.
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post 1445526463 06-02-2016, 01:56 PM
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Originally Posted By cnatboy⏩
In the bay area the houses regularly sell for $100k-$300k above the listed price because of bidding wars and foreign investors that come in with insane 100% cash offers.
Feels good, man.

We almost bought a brand new house in Marin (Novato) for 800k a few years back thats now well into the mid-millions. Kicking myself we didn't, but then my employer at the time closed down so we had to move anyway
post 1445527563 06-02-2016, 02:02 PM
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Originally Posted By EnderG60⏩
Wait 2-3 more years. Another crash is coming.
if you keep repeating this, eventually it will come true.

Meanwhile re values go up 30% and"crash" back down to today's levels.
post 1445529683 06-02-2016, 02:12 PM
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Originally Posted By Poonti⏩
should have, could have, would have.

what would you have done if you bought the house for 400k and the housing market crashed a year later?
He would have sat on it until the market turned around again. Buying a home is almost always a smart move if you have the money and don't have any need to relocate for a few years. Especially in many of the big North American markets today. In Toronto right now, everything is going for WAY above asking price. And it's been that way for a while now. There is no crash in site, and people who claim there is, haven't done the research. I deal with realtors all day long, the market won't be crashing in the next few years.
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post 1445531153 06-02-2016, 02:20 PM
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Move. A $1MIL house in my area would look like a mansion compared to other, average houses around here. Nice houses can be had for $200K and up. Location is everything.

There is no failure, only feedback
post 1445531173 06-02-2016, 02:21 PM
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Originally Posted By BenBlue⏩
I deal with realtors all day long, the market won't be crashing in the next few years.
I guess realtors said so.
post 1445533893 06-02-2016, 02:36 PM
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Originally Posted By bbsitum⏩
I guess realtors said so.
lol totally hear what you're saying man, but it's not just realtors who are predicting the market will continue to increase the time being. Of course, there is gonna be a tipping point, but it doesn't look like it will be any time in the near future.
Squat and Deadlift
post 1445534003 06-02-2016, 02:36 PM
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Originally Posted By engj⏩
https://www.realtor.ca/Residential/S...olumbia-V5P2N1
RIp that sucks

FML toronto/gta coming up close to that
post 1445539583 06-02-2016, 03:10 PM
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OP get out of the USA this house is only $9,000 in Bulgaria.

post 1445540983 06-02-2016, 03:20 PM
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If you guys want to know what the housing market, and the stock and gold markets, will do, follow this guy. I have since about 2007 and he has predicted every major trend to a T. Amazing predictor.

http://www.marketoracle.co.uk/UserIn...m_Walayat.html


BTW he is calling for US housing prices to rise about 5% this year and continue that rise for the next 3 years or so.
post 1445623993 06-03-2016, 12:02 AM
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bought 2 condos cash a few years ago for around 50k each, almost 100k each now, next year for sure will go over 100k. Wish i had more cash and bought more between 2009 and 2013.

Next housing crash i guess, but you gotta have liquid ready when the time is right
post 1445646833 06-03-2016, 05:31 AM
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Originally Posted By xLucky7⏩
oh gee, well heres an idea... dont be "the average 20-something wanabee wage slave"?
Silence you 22 year old boy-fetus.

You're not quite ready for this topic of debate.
post 1445647103 06-03-2016, 05:35 AM
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Originally Posted By InfinityThor⏩
It's probably not a great first step on the property ladder for someone in their 20's.

When you have a transferable skill or you're able to work remotely through the internet it's very attractive.
That's true, working from home if you can get it is a pretty good alternative. My colleague does this, but he gets lonely!
post 1445647953 06-03-2016, 05:47 AM
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Originally Posted By JUGGERNAUT1333⏩
Many feels for you brah. That sucks. Are salaries in your area at least high enough to compensate for the high cost of living? Or is everyone except the wealthy chit out of luck.
the salaries where i'm buying are high i suppose, but the average age is something like 67. just about every house i looked at that's in my price range is because one of the spouses is dead or dying, not kidding. anything by "normal" sellers is in the millions. just looked at a house last night for 575k and i'm panicking because i don't have time to put in the offer til tomorrow, might get sold.

anyone else who is house hunting, did you notice that old people on the brink of death refinance their house for max value , take the money out, and then short sell it or die? what a scam. or is it brilliant? ronaldo.gif
post 1445648483 06-03-2016, 05:54 AM
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Originally Posted By icedonkey4⏩
bought 2 condos cash a few years ago for around 50k each, almost 100k each now, next year for sure will go over 100k. Wish i had more cash and bought more between 2009 and 2013.

Next housing crash i guess, but you gotta have liquid ready when the time is right
You would have had more cash if you didn't blow it all paying cash for a house....
post 1445651313 06-03-2016, 06:22 AM
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It is assumed young people will inherit their parent's property and life savings, so there is no urgency to mitigate rising property prices.

At the mean time, you rent (same applies for people who do not inherit).. it's great news for the buy-to-let investors.

The rich get richer...
post 1445651413 06-03-2016, 06:23 AM
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Originally Posted By FrankGrimesJr⏩
It just boggles my mind how there are so many filthy rich Chinese people. Does owning a small factory really make them that rich?
What do u think they're making in those factories? Stop supporting their economy. Everyone wants cheap stuff and bargains (made in China) are making them rich
post 1445651903 06-03-2016, 06:27 AM
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Originally Posted By neuropeptides⏩
What do u think they're making in those factories? Stop supporting their economy. Everyone wants cheap stuff and bargains (made in China) are making them rich
Yes, buy American. (built by Mexicans), pay higher prices and make the American CEOs richer.
post 1445657173 06-03-2016, 07:12 AM
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Originally Posted By FrankGrimesJr⏩
It just boggles my mind how there are so many filthy rich Chinese people. Does owning a small factory really make them that rich?
Yes. I have an in law uncle in Asia that bought a who,e coul de sac in Vegas the last down turn. He doesn't even rent the properties out. Not worth his time. Just moving money around.
post 1445657853 06-03-2016, 07:19 AM
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Originally Posted By arn710⏩
I love when people up to their ears in a mortgage says this

What your house appraises for and what it sells for are two completely different numbers bro

Don't get cocky
But typically a house in a hot area appraises for less than it could sell for on the street. I'm not an expert on Bay Area appraisal but in Tx there is a cap to how much the appraisal can go up year over year. People protest the appraisal to manage taxes.

$2300 monthly for a property worth 850k means you have about 50% equity on the property.
post 1587761391 09-12-2019, 02:52 PM
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Yeah its hard to find a new home in cheap price unless you know some real estate agents to help you with this,

I also bough a house from my friend who's nowadays a name of Top Realtors Indianapolis city, he found a good house for me in 2005 for 0.2million.
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