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Forum » Imagine buying real estate in 2021
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Thread: Imagine buying real estate in 2021

post 1637460903 04-30-2021, 02:18 PM
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Originally Posted By Glutebrahhh⏩
Even the most modest homes in my area, on a quarter acre, list at $500k, and then sell after a bidding war for $550-600k+

I gave up.
Yep. Exact same situation in Australia. A lot of the foreign investment has dried up yet house prices have gone up by 20-30% and ALWAYS go for 50k above asking. Very weird stuff going on.

Cars are another one, 5 year old second hand cars are selling for more than the current new car price
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post 1637476313 04-30-2021, 06:05 PM
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Originally Posted By Anachron⏩
It's not an either or between those two.

And it's not the only two possible scenarios.
whoa people aren't panic buying houses? That's news pretty much to everyone.
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post 1637479013 04-30-2021, 06:41 PM
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I bought a house June 2018 for $385K. Now I would be STUPID to sell this house for less than $550K to $600K with the way the market is in my neighborhood.
post 1637479303 04-30-2021, 06:44 PM
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Originally Posted By AJ1528⏩
I bought a house June 2018 for $385K. Now I would be STUPID to sell this house for less than $550K to $600K with the way the market is in my neighborhood.
but but but a 50% the increase in two years from all time highs isnt a bubble
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post 1637480103 04-30-2021, 06:55 PM
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Originally Posted By rectifryer⏩
but but but a 50% the increase in two years from all time highs isnt a bubble
Markets can stay irrational longer than you can stay liquid.

Sure it’s a bubble, but people thinking it’s going to end this year or next might be in a dark place.

The scary part is Japan has been doing QE for many years now, and no measurable major inflation.

If the US does the same then every investable asset keeps going up while your milk, gas and cereal at the store stay at a similar price.

The Fed has an agenda to keep rates low and they will try their hardest to do so.

Everyone that wants the gloom and doom crash just better pray for measureable inflation in next year or so, otherwise this circus keeps going.
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post 1637480663 04-30-2021, 07:06 PM
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Originally Posted By N0stradamus⏩
Only a total fcccking fool would not see the parallels with the 2008 housing crisis.
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post 1637481203 04-30-2021, 07:17 PM
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Originally Posted By shoelaces⏩
Price correction in real estate won't happen. There is a massive shortage and a never ending demand.
This is the exact sentiment of the 2008 bubble

"reeeeeeeeee it will never go down again"

it absolutely will crash leaving the US in a severe depression but no-one can time it. The dollar might collapse first. Could happen when a swarth of boomers die off in the next 5-15 years and millenials start dumping their inheritance.
post 1637481343 04-30-2021, 07:19 PM
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Originally Posted By GainzMcgee⏩
This is the exact sentiment of the 2008 bubble

"reeeeeeeeee it will never go down again"

it absolutely will crash leaving the US in a severe depression but no-one can time it. The dollar might collapse first.
Did your parents have any kids that lived?
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post 1637481683 04-30-2021, 07:24 PM
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Originally Posted By GOATisLife⏩
Markets can stay irrational longer than you can stay liquid.

Sure it’s a bubble, but people thinking it’s going to end this year or next might be in a dark place.

The scary part is Japan has been doing QE for many years now, and no measurable major inflation.

If the US does the same then every investable asset keeps going up while your milk, gas and cereal at the store stay at a similar price.

The Fed has an agenda to keep rates low and they will try their hardest to do so.

Everyone that wants the gloom and doom crash just better pray for measureable inflation in next year or so, otherwise this circus keeps going.
Spot on. Even if there is a recession, it will not be anything like 2008 and when housing prices do start to fall interest rates will rise simultaneously all while the rich that are standing on side lines with cash will swoop in and buy up everything they can. But again, highly unlikely that the housing bubble will pop with the same outcome as post 2008
post 1637481693 04-30-2021, 07:24 PM
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Originally Posted By GOATisLife⏩
Markets can stay irrational longer than you can stay liquid.

Sure it’s a bubble, but people thinking it’s going to end this year or next might be in a dark place.

The scary part is Japan has been doing QE for many years now, and no measurable major inflation.

If the US does the same then every investable asset keeps going up while your milk, gas and cereal at the store stay at a similar price.

The Fed has an agenda to keep rates low and they will try their hardest to do so.

Everyone that wants the gloom and doom crash just better pray for measureable inflation in next year or so, otherwise this circus keeps going.
What do you think inflation is?

The QE is driving living costs up through real estate, directly. Inflation happened in RE, and will come down when all factors contributing to it recess as they inevitably will, save for the fed's meddling.
Originally Posted By KTMbraaap⏩
Spot on. Even if there is a recession, it will not be anything like 2008 and when housing prices do start to fall interest rates will rise simultaneously all while the rich that are standing on side lines with cash will swoop in and buy up everything they can. But again, highly unlikely that the housing bubble will pop with the same outcome as post 2008
you gonna provide reasoning or logic or just make statements
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post 1637483683 04-30-2021, 07:59 PM
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Originally Posted By rectifryer⏩
Let's break down the logic in this thread

People are either claiming that you MUST buy now because housing will NEVER be affordable again

or

people are panic buying and the market is likely to fall substantially once this passes

Which one sounds more realistic?
The prices will never come down to what they were. Everyone in this thread is not taking rich people and foreign investors into account. USD isn't as strong as it once was because of inflation. What do you do when bonds suck and inflation is high? You buy real estate as a means to "park" your money.

OP is not correct either. The market as it stands today could absorb a couple million homes going up for sale easily.

Biden isn't going to allow a recession of anyways. He's already stated that he'll allow banks refinance year mortgages into 60 year which I think is absolutely insane.
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post 1637484573 04-30-2021, 08:13 PM
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I bought my dream home three years ago and have no plans in ever moving. My mortgage payment is easy on my salary so I'll just sit back and watch the rentcels and panicels go crazy over the undulating market while I continue paying my relatively smaller and smaller mortgage payments as inflation continues.
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post 1637484703 04-30-2021, 08:16 PM
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Just sittin here swimming in millions of dodgecoin LMFAO at people who own homes. Just stay free at the shelter and buy crypto brrrraaaahhh.... hehe...
post 1637496893 05-01-2021, 12:30 AM
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Originally Posted By swoleyo⏩
The prices will never come down to what they were. Everyone in this thread is not taking rich people and foreign investors into account. USD isn't as strong as it once was because of inflation. What do you do when bonds suck and inflation is high? You buy real estate as a means to "park" your money.

OP is not correct either. The market as it stands today could absorb a couple million homes going up for sale easily.

Biden isn't going to allow a recession of anyways. He's already stated that he'll allow banks refinance year mortgages into 60 year which I think is absolutely insane.
Yeah imma need a source for this bullchit.
post 1637499103 05-01-2021, 01:54 AM
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Originally Posted By rectifryer⏩
Sold all of my properties as the current yield will not be worth it since they were financed. I'd consider holding if I was chasing yield on paid for properties, but that is not the case for 4/5 single family homes.
So with your outlook for 1.5 years, where did you park your money from the sale of your two homes?
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post 1637499123 05-01-2021, 01:55 AM
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post 1637500513 05-01-2021, 03:02 AM
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I'm hoping someone buys my folks place in Illinois! It's been up for sales for some time now. Interest rates are low.
post 1637500923 05-01-2021, 03:24 AM
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Just got an offer on my apartment complex for 3.2mil. It's a 12 unit (8 town houses, 4 apartments). LMAO. People still out there wanting to buy real estate, its not going anywhere long term.
post 1637501013 05-01-2021, 03:30 AM
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Originally Posted By Voluspa⏩
Dont worry OP sit back while the rich keep buying up land
I think you mean: while people keep buying up land and becoming rich
Originally Posted By ooph⏩
Just got an offer on my apartment complex for 3.2mil. It's a 12 unit (8 town houses, 4 apartments). LMAO. People still out there wanting to buy real estate, its not going anywhere long term.
$260k a piece?

We 1999 now
post 1637501083 05-01-2021, 03:36 AM
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TBH US real estate prices looked super low when you compared them to Australia / Canada / UK. Despite USA having higher wages and higher PPP and stuff. It's probably just US prices going up to what they should had been years ago.
post 1637501133 05-01-2021, 03:39 AM
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Originally Posted By moosik85⏩
Yep. Exact same situation in Australia.A lot of the foreign investment has dried up yet house prices have gone up by 20-30% and ALWAYS go for 50k above asking. Very weird stuff going on.

Cars are another one, 5 year old second hand cars are selling for more than the current new car price
Lol but I thought it was the inscrutable chinee with his communist dollars driving up the price
Originally Posted By DoYouEvenNEM⏩
TBH US real estate prices looked super low when you compared them to Australia / Canada / UK. Despite USA having higher wages and higher PPP and stuff. It's probably just US prices going up to what they should had been years ago.
Not really

Nobody wants to live in a third world country

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post 1637501163 05-01-2021, 03:41 AM
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Originally Posted By r32gojirra⏩
Lol but I thought it was the inscrutable chinee with his communist dollars driving up the price
Actually it probably is still Chinese money.

Remember most Hongers and mainland Chinese have been snatching up Chinese passports since the mid-1990s. By now there's a whole lot of them with dual or triple citizenship. Likewise, the stats probably don't include Chinese who hide behind trusts or them waiting until citizenship (under 5 years?) to buy.
post 1637501453 05-01-2021, 04:02 AM
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Originally Posted By r32gojirra⏩
Lol but I thought it was the inscrutable chinee with his communist dollars driving up the price
Went to a home open
Put in an offer
Didn’t hear anything back
Called them to ask what happened
It sold for 80 grand over asking price. With 10 offers over asking price. All of them sight unseen. With 6 being cash offers

The real estate market is insane atm
Originally Posted By DoYouEvenNEM⏩
Actually it probably is still Chinese money.

Remember most Hongers and mainland Chinese have been snatching up Chinese passports since the mid-1990s. By now there's a whole lot of them with dual or triple citizenship. Likewise, the stats probably don't include Chinese who hide behind trusts or them waiting until citizenship (under 5 years?) to buy.
Chinese and Indians just need to sign up for a 4 year Australian university degree. Boom 4 years here as a student they get permanent residency. 2 years after that full citizenship.

Uni degree to citizenship is a fullblown industry that the unis exploit with bogus courses, some being just 1 or 2 days a week... you should’ve seen the salt from the unis when the aus gov closed the borders. There was even talk of accepting international students as Australians were in lockdown.
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post 1637501563 05-01-2021, 04:07 AM
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LOL @ buying property when you wont be allowed to own it in 2030.. and you WILL be happy
post 1637502033 05-01-2021, 04:40 AM
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Originally Posted By moosik85⏩
Went to a home open
Put in an offer
Didn’t hear anything back
Called them to ask what happened
It sold for 80 grand over asking price. With 10 offers over asking price. All of them sight unseen. With 6 being cash offers

The real estate market is insane atm



Chinese and Indians just need to sign up for a 4 year Australian university degree. Boom 4 years here as a student they get permanent residency. 2 years after that full citizenship.

Uni degree to citizenship is a fullblown industry that the unis exploit with bogus courses, some being just 1 or 2 days a week... you should’ve seen the salt from the unis when the aus gov closed the borders. There was even talk of accepting international students as Australians were in lockdown.
Lmao I bought I the early 2020
COVID dip

Basically when everyone says it’s going to crash that’s the time to go balls deep
post 1637502093 05-01-2021, 04:43 AM
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Originally Posted By r32gojirra⏩
Lmao I bought I the early 2020
COVID dip

Basically when everyone says it’s going to crash that’s the time to go balls deep
TBH the only bear factors I can think of:

1. Immigration is somehow reduced down to nothing
2. Tradesmen apprenticeship laws are modified to boost the supply of tradesmen. Aka a Journeymen / Master can sponsor 3 to 5 instead of
3. Prefrab housing kicks off and/or the digitalizing of the economy drops pressure on city prices in general.
4. Interest rates exceed 10%
post 1637502123 05-01-2021, 04:47 AM
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OP = testifier?
post 1637502293 05-01-2021, 04:59 AM
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Originally Posted By DoYouEvenNEM⏩
TBH the only bear factors I can think of:

1. Immigration is somehow reduced down to nothing
2. Tradesmen apprenticeship laws are modified to boost the supply of tradesmen. Aka a Journeymen / Master can sponsor 3 to 5 instead of
3. Prefrab housing kicks off and/or thedigitalizing of the economy drops pressure on city prices in general.
4. Interest rates exceed 10%
That effect has already bumped prices in coastal areas

The problem is you still need strong internet connectivity to make that work

And for people in executive roles you still need to be a “visible leader” aka maintain a residence in the city
post 1637502463 05-01-2021, 05:06 AM
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price of lumber is pulling a bitcoin style moonshot right now too, so you can't even build a house to avoid the price gouging. Tour is over
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post 1637502493 05-01-2021, 05:09 AM
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buy low sell high.
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