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

post 1445333103 06-01-2016, 12:41 PM
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I'm priced out of the housing market forever

because housing prices keep going up and there is no end in sight.

I'm kicking myself for not buying a house in 2011/2012. I could have bought a nice house for $400k and live comfortably. But now a nice house is around $1 million dollars.
post 1445333363 06-01-2016, 12:43 PM
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Just buy in a worse area. There's lots of other people in your position who will do the same and the area will become nicer.
*Only misc at work crew*

**Sons of Smack crew**
post 1445333373 06-01-2016, 12:43 PM
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Location, Location, Location
post 1445333453 06-01-2016, 12:43 PM
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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?
post 1445334273 06-01-2016, 12:47 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?
I would still be ok.

Now If I bought a million house and the market crashed I would be in trouble. But then again it doesn't look like the market will crash.
post 1445334353 06-01-2016, 12:48 PM
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Invest in crappier areas. It will take longer, but gentrification will find it eventually thankfully.
Order Will Be Restored
post 1445334623 06-01-2016, 12:49 PM
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My family bought the house back in like 2005 for around 170k and now with Nike getting bigger and new cookie cutter no backyard homes being built some of the older style homes on like .25 acres like mine around my neighborhood are asking for like 350k+
Hala Madrid
post 1445335213 06-01-2016, 12:51 PM
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Da fuk do you people live where 400k doesn't get you a nice house?

400k in my area gets you a Mansion.
6'1 - 240lbs

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post 1445335483 06-01-2016, 12:52 PM
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Originally Posted By JUGGERNAUT1333⏩
Da fuk do you people live where 400k doesn't get you a nice house?

400k in my area gets you a Mansion.
Do you really not understand that location drives prices? For the most part, the piece of land the house sits on is the main cost (in desirable areas)
The house is an after thought.
post 1445335613 06-01-2016, 12:53 PM
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If I were to buy in a bad area right now in San Francisco, I can only afford the Bayview and Visitacion valley area. I don't think those areas will gentrify quickly.

In the Mission District with all of the Google and ******** workers gentrifying the area, it's still full of crime.
post 1445335673 06-01-2016, 12:53 PM
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bought a house in the recession crew
getting a valuation on friday and hoping for good news crew
post 1445335713 06-01-2016, 12:53 PM
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Bide your time

The bottom will drop out again as soon as interest rates start climbing
Training log: http://forum.obnoxiousbrutes.com/showthread.php?t=165829701
post 1445335773 06-01-2016, 12:54 PM
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Originally Posted By JUGGERNAUT1333⏩
Da fuk do you people live where 400k doesn't get you a nice house?

400k in my area gets you a Mansion.
San Francisco
post 1445335893 06-01-2016, 12:54 PM
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nyc bruh checking in, i know the feel way too well fml...
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post 1445336013 06-01-2016, 12:54 PM
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Originally Posted By donblaximus⏩
Do you really not understand that location drives prices? For the most part, the piece of land the house sits on is the main cost (in desirable areas)
The house is an after thought.
That's why I'm asking where the hell you people live. 400k even in nicer areas in my state and surrounding areas is plenty of cash. I imagine places like Beverly Hills, LA, ect
6'1 - 240lbs

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post 1445336163 06-01-2016, 12:55 PM
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Originally Posted By FrankGrimesJr⏩
San Francisco
Makes sense now, example of what 400k gets you in SF? Just curious.
6'1 - 240lbs

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post 1445336233 06-01-2016, 12:56 PM
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the bubble will burst in a few years
post 1445336313 06-01-2016, 12:56 PM
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Originally Posted By JUGGERNAUT1333⏩
That's why I'm asking where the hell you people live. 400k even in nicer areas in my state and surrounding areas is plenty of cash. I imagine places like Beverly Hills, LA, ect
Most big cities will always have a part of town that have a $500K+ per house to get a shack.
Even cities that are notorious for lowest cost of living like cities in Texas.

In manhattan you can barely sniff a parking spot in a parking garage for $400k nevermind a house.
post 1445336403 06-01-2016, 12:56 PM
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lol I'm in the same boat, live in the GTA (toronto) crew and it's a joke. I don't even understand how it can be so high. I have tons of friends in their late 20s early 30s still living at home. I'm hoping the market crashes soon so I can move out. I have a bunch of money saved up but scared to buy because the market seems so over valued.. Probably better off renting and investing your money in stocks instead of the housing market...
post 1445336523 06-01-2016, 12:57 PM
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feels through the angus.

put an offer on a house (put a bid 15% below asking because it was a short sale)....wait 60 days....bank comes back with a 25% counter OVER LIST just because they can. 60 days of life gone.


next house, put in a full price bid....find out it's 30k below what the owner owes (you w8 m8)....i only gave them til today or i'm looking elsewhere.

tfw i have to put in a bid over list for a 600k house that will suck the soul out of me. tfw don't want kids to go to a "diverse" school and have to fork up out the azz.
post 1445336573 06-01-2016, 12:57 PM
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Originally Posted By donblaximus⏩
Most big cities will always have a part of town that have a $500K+ per house to get a shack.
Even cities that are notorious for lowest cost of living like cities in Texas.
That's insane. Couldn't imagine paying 500k for a home and being considering "poverty"
6'1 - 240lbs

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post 1445336593 06-01-2016, 12:57 PM
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I bought in the trough in 2011. Had a pool built last year and still have tons of equity. Feelsgoodman. Like said before, settle for a worse area. Others will do the same and raise areas value.
post 1445336703 06-01-2016, 12:58 PM
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Originally Posted By JUGGERNAUT1333⏩
That's insane. Couldn't imagine paying 500k for a home and being considering "poverty"
if i showed you what i'm willing to pay 600 for, you would lel to death.
post 1445336753 06-01-2016, 12:59 PM
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Tons of foreclosures in NJ are killing the prices here atleast in this county
post 1445336943 06-01-2016, 12:59 PM
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Originally Posted By JUGGERNAUT1333⏩
Makes sense now, example of what 400k gets you in SF? Just curious.
Pretty much nothing now.

Here is a house in the ghetto for $629k

https://www.redfin.com/CA/San-Franci...4/home/1463776
post 1445336973 06-01-2016, 01:00 PM
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Originally Posted By PatheticPeter⏩
if i showed you what i'm willing to pay 600 for, you would lel to death.
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.
6'1 - 240lbs

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post 1445337103 06-01-2016, 01:00 PM
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Originally Posted By FrankGrimesJr⏩
Pretty much nothing now.

Here is a house in the ghetto for $629k

https://www.redfin.com/CA/San-Franci...4/home/1463776
oh my fukin God.....brah, feels for you. I'm speechless at that.
6'1 - 240lbs

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post 1445337353 06-01-2016, 01:02 PM
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Originally Posted By EnforcerOTF⏩
the bubble will burst in a few years
I don't know what will burst this bubble. It's not like there are tons of bad loans like before.

If the interest rate goes up, it doesn't seem like that will make a significant change.
post 1445337683 06-01-2016, 01:04 PM
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Originally Posted By JUGGERNAUT1333⏩
That's insane. Couldn't imagine paying 500k for a home and being considering "poverty"
I have a home in austin that I could probably sell for $750k right now.
It was built in 1940 and about 1200 square feet. The foundation is pier and beam and there is literally some cedar stumps serving as some of its foundation.

Its a rental until I decide to knock it down, build a mcMansion on it and sell it for a profit.
Its all about land value.
post 1445337873 06-01-2016, 01:05 PM
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Originally Posted By JUGGERNAUT1333⏩
oh my fukin God.....brah, feels for you. I'm speechless at that.
I heard Google workers here with $200k salaries are even having a hard time to afford a house. They are moving to areas like Seattle with almost similar pay with way cheaper housing.
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