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

post 1637502693 05-01-2021, 05:20 AM
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#91
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Originally Posted By iifymbro⏩
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
But who is the forces of a free market? If price stayed high forever we would see a switch to alternative materials or people doing concrete homes (still need some wood for framing and interior furnishings lol).
post 1637506683 05-01-2021, 07:30 AM
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#92
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Originally Posted By DoYouEvenNEM⏩
But who is the forces of a free market? If price stayed high forever we would see a switch to alternative materials or people doing concrete homes (still need some wood for framing and interior furnishings lol).
yeah in florida they use cinderblock and concrete n' chit a lot, cause massive hurricanes
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post 1637506983 05-01-2021, 07:37 AM
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#93
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Originally Posted By Anachron⏩
North American residential construction only ever reached the level of the second piglet.
And they keep tweaking the building code to permit stuff like 4 floor (maybe 5) 100% wood apartments. Lol if there's a fire. Lol at hearing the neighbor 3 floors above you.
post 1637508513 05-01-2021, 08:15 AM
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#94
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OP dropping Nagasaki blackpills and the cope from real estate agents and late 2020 / 2021 home buyers is hard to see.

“Lol at rentcels” brb 80% of your mortgage payment is paying interest, insurance, taxes, etc

BRB minor price correction wipes out your down payment

BRB after prices correct you stuck in your 500k starter home for 15 yrs because it is not possible to sell your home and move without coming out of pocket 100k to pay off your loan
mo e
post 1637509303 05-01-2021, 08:34 AM
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#95
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Lol at the “prices won’t go down” people. Prices will correct, significantly


There are multiple factors right now all stated in this thread driving prices to the moon. And many people buying that they can’t truly afford
post 1637509343 05-01-2021, 08:34 AM
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#96
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Originally Posted By keyboardworkout⏩
The prices are just due to lack of inventory combined with low interest rates.

Just sold my house for more than twice what I paid for it. I'll rent for a while then buy back in when inventory increases and prices fall.
Same here. Although it wasn't as a market timing project, more just coincidence (although we did probably rush to sell a few months earlier as we were worried the market might crash soon).

House closes next Friday, and once it does, we completely cut all ties to California. Living in Florida now.
post 1637509553 05-01-2021, 08:40 AM
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#97
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didn’t take long for the..

“Ma mortgage payment is $2K a month vs ya $2k rent a month and I own!!”

because the difference between owning a home vs renting is simply only due to a monthly payment...
post 1637512853 05-01-2021, 09:51 AM
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#98
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Originally Posted By Anachron⏩
Imagine trying to call out cope, but ending up posting a cope novel of your own.
No cope. Bought a home a while ago. Sorry for touching a nerve
mo e
post 1637513023 05-01-2021, 09:55 AM
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#99
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Homelesscells like what now.
Bills crew / Bud Light crew / extra onion crew / M&P crew / lcp2 crew / ap3 crew / Trump crew / mcdonalds app crew / cat-owner crew / Tin Cup crew / self-checkout crew / country music crew / RIP snails crew / 214CE crew
post 1637513383 05-01-2021, 10:01 AM
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#100
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Originally Posted By HtotheOV⏩
didn’t take long for the..

“Ma mortgage payment is $2K a month vs ya $2k rent a month and I own!!”

because the difference between owning a home vs renting is simply only due to a monthly payment...
Paying someone else’s mortgage vs paying your own.
post 1637513833 05-01-2021, 10:07 AM
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#101
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Wife has sold million+properties for 70-80K over listing in the past couple months, people are waving all inspections, contingency’s, it’s been insane. A drop is not coming any time soon, despite interest rates rising.
We sold toward the end of last year & bought some rental properties, one of them we are able to rent for over a thousand just on the weekend (ski town)...if you are able to buy a fixer upper in a good location, and are handy, I’d jump on it, rent will/is skyrocketing as well.
post 1637514183 05-01-2021, 10:13 AM
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#102
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Originally Posted By Paul
Wife has sold million+properties for 70-80K over listing in the past couple months, people are waving all inspections, contingency’s, it’s been insane. A drop is not coming any time soon, despite interest rates rising.
We sold toward the end of last year & bought some rental properties, one of them we are able to rent for over a thousand just on the weekend (ski town)...if you are able to buy a fixer upper in a good location, and are handy, I’d jump on it, rent will/is skyrocketing as well.
Seeing over 100 offers on properties. People with stellar borrowing power and high offers getting BTFO. It's ridiculous.
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post 1637514413 05-01-2021, 10:17 AM
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#103
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Biggest cope thread so far this year lmao
Journal: https://forum.obnoxiousbrutes.com/showthread.php?t=139898123&page=240
post 1637514483 05-01-2021, 10:18 AM
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#104
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Originally Posted By CaliSuperSport⏩
Seeing over 100 offers on properties. People with stellar borrowing power and high offers getting BTFO. It's ridiculous.
I guess all those Bitcoin early investors & OnlyFans thots are paying off
post 1637514533 05-01-2021, 10:19 AM
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#105
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Originally Posted By Anachron⏩
Imagine having total monthly expenses that are under that of the cheapest apartment one could rent. Yes, that includes property taxes, bills and insurance.
I completely understand why some people might choose to be a renter. There are a few advantages. But after buying a home 6 years ago and now refinancing at a super low rate. My mortgage is locked in at an incredibly low rate for the next 30 years.


I know people that live in apartments. All of the decent complexes in my city are at 98-99% occupancy. Rent prices have been increasing by 3-5% every year. My 3 bed 2 bath home is already cheaper then a 1 bed 1 bath apartment 1/4th of its size here.
post 1637515023 05-01-2021, 10:29 AM
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#106
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Originally Posted By Paul
I guess all those Bitcoin early investors & OnlyFans thots are paying off
We actually had a client who was an escort. I forget exactly what her loan was, but I remember there being an issue because of all that unstated cash income. This was like 2014 before sloots were getting IRS'd but she ended up buying a 600k property in a really nice area.
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post 1637515223 05-01-2021, 10:33 AM
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#107
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Originally Posted By rectifryer⏩
just fukking lmao

3.6million homes in forbearance

if even a tenth of them default then supply would drive up to 4-6 months absolutely wrecking nearly every market area

this is completely ignoring the fact that current demand is entirely synthetic...which is altogether a much more dominant factor

there's literally no indication you should buy right now

just fukking lmao

real estate ****s on suicide watch hoping biden keeps printing money so they can simply keep the numbers on paper the same

inb4 "but muh fundamentals that ignore supply and demand HHUUUUUUUUURRRRRRRRRR"

https://www.youtube.com/watch?v=ZFXObY99bXg
Been trying to tell people too man. Imo they will extend forbearance, further worsening the problem.

Like you said, when its lifted the supply dump will shake the market to its core.
post 1637515243 05-01-2021, 10:33 AM
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#108
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Originally Posted By keyboardworkout⏩
The prices are just due to lack of inventory combined with low interest rates.

Just sold my house for more than twice what I paid for it. I'll rent for a while then buy back in when inventory increases and prices fall.
THIS. In its simplest form, it's just supply and demand. for 20% of the country, pandemic has been awful for their job ( service, retail brick n mortar )

People working from home and making 100k + want a bigger home. low supply.

People willing to pay more.

It will calm down in the next 2 or so years. But as an investor, me and 2 million other people in the USA and the world are waiting for even a small price drop to pounce on homes again.
Just trying hard to not be a fat sack-o-chit.

Real Estate Crew
post 1637515343 05-01-2021, 10:34 AM
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#109
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Originally Posted By CaliSuperSport⏩
We actually had a client who was an escort. I forget exactly what her loan was, but I remember there being an issue because of all that unstated cash income. This was like 2014 before sloots were getting IRS'd but she ended up buying a 600k property in a really nice area.
Some of these high end escorts are raking in insane amounts of cash. They're earning more than doctors and dentists.
Everything I post is satire.
Tricknology Grand Master.
post 1637515383 05-01-2021, 10:34 AM
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#110
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Originally Posted By dopamine72⏩
Biggest cope thread so far this year lmao
Whew lad, something tells me you will live to eat these words srs

This market is completely fugazi and artificial, we are all going to see
post 1637515613 05-01-2021, 10:38 AM
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#111
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Originally Posted By N0stradamus⏩
Some of these high end escorts are raking in insane amounts of cash. They're earning more than doctors and dentists.
Yup it's understandable but also disgusting from a culture standpoint. Doctors who are on the edge of complete burnout and did 8+ years of higher ed. make less than someone who is pampered by rich men.
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post 1637524233 05-01-2021, 01:03 PM
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#112
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Originally Posted By N0stradamus⏩
Some of these high end escorts are raking in insane amounts of cash. They're earning more than doctors and dentists.
And people will doubt you.

But online escort ads all ask for $400+ a hour. Even have overnight fees that are $1,000+. Somebody has to be paying those prices for them to even list it.

Even before Onlyfans women were privileged and there's no excuse for any of them to be homeless or broke in this world.
post 1637524303 05-01-2021, 01:04 PM
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#113
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Originally Posted By SkiGains⏩
The doctors and dentists can also have a fulfilling career spanning 40+ years

The whores will make that much for 15 years if they’re lucky
Unless my Dentist was frauding his life story he didn't really begin until his late 30s, had huge debt from school and running the office, complained his Hygienist was wealthier than him (because their school fees are less and you can't hire one for minimum wage), etc.
post 1637524543 05-01-2021, 01:07 PM
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#114
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This is what gives me hope:https://www.bloomberg.com/news/artic...market-on-fire

Also check out the lumber price index:https://markets.businessinsider.com/...s/lumber-price

---

Many see the lumber prices and think its an barrier to home building. But I think their cause/effect is backwards. I believe high housing construction iswhylumber prices are soaring.
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post 1637524613 05-01-2021, 01:09 PM
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#115
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I just bought a small renovated town house. Just a place to live. Paid about two thirds what I would have paid 15 years ago in this area.

Canadian real estate market is a bit different than the US market.

For me, it's a home, not an investment. But for $135K it literally has nowhere to go but up.
post 1637527463 05-01-2021, 01:58 PM
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#116
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I will never have a house or family so what is the point of even being here?
post 1637527783 05-01-2021, 02:05 PM
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#117
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Originally Posted By knightofday⏩
Been trying to tell people too man. Imo they will extend forbearance, further worsening the problem.

Like you said, when its lifted the supply dump will shake the market to its core.
And $1M+ properties are going to be wrecked by Biden going after 1031 capital gains.
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post 1637529833 05-01-2021, 02:47 PM
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#118
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Originally Posted By mulletwarrior⏩
OP dropping Nagasaki blackpills and the cope from real estate agents and late 2020 / 2021 home buyers is hard to see.

“Lol at rentcels” brb 80% of your mortgage payment is paying interest, insurance, taxes, etc

BRB minor price correction wipes out your down payment

BRB after prices correct you stuck in your 500k starter home for 15 yrs because it is not possible to sell your home and move without coming out of pocket 100k to pay off your loan
Poor person detected (srs) your post reeks of poverty
post 1637531363 05-01-2021, 03:17 PM
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#119
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Originally Posted By rectifryer⏩
That's what most people think but lumber was high because of parasites killing populations.
Is that canada specifc? What I'm hearing is that the lumber milling process is the bottleneck, and the raw wood is at a surplus. Over here in the US
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post 1637531593 05-01-2021, 03:22 PM
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#120
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Originally Posted By SaviorSelfJT⏩
Is that canada specifc? What I'm hearing is that the lumber milling process is the bottleneck, and the raw wood is at a surplus. Over here in the US
Seen some videos of lumber sitting in huge amounts and they are just slowly leaking supply to keep prices up. Commodities never go up forever because companies will always adjust to boost production because of such high prices. They are taking advantage of the perfect situation
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