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Forum » Any brahs been trying to buy a house since all this chit started?
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Thread: Any brahs been trying to buy a house since all this chit started?

post 1641184753 06-18-2021, 10:21 PM
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Any brahs been trying to buy a house since all this chit started?

Seems impossible

Brb all cash offer appraisals waived
post 1641184873 06-18-2021, 10:25 PM
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Na I’ve been living in my dads friends rental homes until this is over. I’m waiting to move in with the ladies moms. Or at least be their neighbors. See Eva’s mom suggested living with her, Leonor’s parents I think said next door neighbors. Dunno if we’re going to be living together in the same house or next door neighbors.

Guess dunno which parents are going tj make it either. Deferring to the fbi here
post 1641184903 06-18-2021, 10:26 PM
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I feel bad for anyone trying to buy right now. Good luck.
The closer we approach the uncertainty of life's ending the more we wish to trade all of the things we have acquired in exchange for all of the things we have lost: wealth for youth, knowledge for fresh curiosity, resignation for hope. We'd trade our wisdom for new experiences, but it is wisdom that will teach us that at the end of the road the only new experience is death.
post 1641185543 06-18-2021, 10:40 PM
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i signed a purchase contract just right before...fuark! House is crazy cheaper compared to what they're being sold for now, plus got 5k in upgrade credit.
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post 1641185633 06-18-2021, 10:42 PM
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Everyone in the world has been trying to buy a house.
post 1641185813 06-18-2021, 10:46 PM
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Not the best time. Even people selling are stuck without homes after and have to rent.
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post 1641187083 06-18-2021, 11:17 PM
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Seems the market is overvalued a bit.

I'm going to be financing land in maybe a year or less depending on a few factors.

However, I am financing through a government subsidy at fixed low interest with no minimum deposit.

I am also planning on building my own house on undeveloped land with minimal contracting.

That way I don't have to worry about the crazy swings of private lending and the private housing market.
Beans. Cleans. Gasoline.
post 1641187283 06-18-2021, 11:21 PM
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Originally Posted By BeanGainClovis⏩
Seems the market is overvalued a bit.

I'm going to be financing land in maybe a year or less depending on a few factors.

However, I am financing through a government subsidy at fixed low interest with no minimum deposit.

I am also planning on building my own house on undeveloped land with minimal contracting.

That way I don't have to worry about the crazy swings of private lending and the private housing market.
In what state!? That’s awesome.
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post 1641187543 06-18-2021, 11:28 PM
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Originally Posted By BeanGainClovis⏩
Seems the market is overvalued a bit.

I'm going to be financing land in maybe a year or less depending on a few factors.

However, I am financing through a government subsidy at fixed low interest with no minimum deposit.

I am also planning on building my own house on undeveloped land with minimal contracting.

That way I don't have to worry about the crazy swings of private lending and the private housing market.
Good luck brah. Make sure you can get all the utilities you need including high speed internet

I looked into this too but the land where I'm at sucks ass and trying to coordinate everything in another state sounds like too much of a hassle
post 1641187773 06-18-2021, 11:33 PM
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Originally Posted By illriginalized⏩
In what state!? That’s awesome.
In TX.

It's not too crazy, a lot of construction companies sell everything already cut and ready. Still need contractors for stuff like wiring. Like 3 to 6 months build time depending on how large and fancy the home is. Most suburban homes are built on mass produced designs as well.

Save a lot of money if you build it yourself and don't contract the whole construction. The land is financed through the USDA at low rates.

At least that's the plan, still need to save a solid deposit, scope out some land, shop designs, and file all the paperwork.

I just don't wanna get stuck with 30 years of bad debt, my dad told me this was a bad move.
Beans. Cleans. Gasoline.
post 1641187853 06-18-2021, 11:35 PM
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Originally Posted By Omnivium⏩
Good luck brah. Make sure you can get all the utilities you need including high speed internet

I looked into this too but the land where I'm at sucks ass and trying to coordinate everything in another state sounds like too much of a hassle
Yes, it's going to be a PITA but takes around half a year at the longest to get it done.

It's mostly to avoid getting saddled with a lifetime of bad debt, but also as a challenge and personal ambition.
Beans. Cleans. Gasoline.
post 1641187963 06-18-2021, 11:39 PM
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Here in socal it's only going up. Everything here is going up gas restaurant foods grocery. Average house is min 650k+ in a average city
post 1641188423 06-18-2021, 11:49 PM
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Originally Posted By nikonD70s⏩
Here in socal it's only going up. Everything here is going up gas restaurant foods grocery. Average house is min 650k+ in a average city
That's crazy, I heard wealthy people and investment banks were buying up homes there for profit. They just overbid in cash and no one can compete. Makes homes unaffordable for people, and a lot of them are just held as vacant properties. Pretty absurd having all those homeless people right next to all those vacant luxury properties.

The gentrification end game is usually blue collar -> white collar -> then bankers/financiers who buy up the properties and just hold them vacant. Manhattan is like this now, huge expensive skyscrapers full of empty floors owned by investors.

I've heard Vancouver is undergoing the same thing. Guess the rich get richer or whatever people say.
Beans. Cleans. Gasoline.
post 1641188603 06-18-2021, 11:54 PM
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Originally Posted By BeanGainClovis⏩
That's crazy, I heard wealthy people and investment banks were buying up homes there for profit. They just overbid in cash and no one can compete. Makes homes unaffordable for people, and a lot of them are just held as vacant properties. Pretty absurd having all those homeless people right next to all those vacant luxury properties.

The gentrification end game is usually blue collar -> white collar -> then bankers/financiers who buy up the properties and just hold them vacant. Manhattan is like this now, huge expensive skyscrapers full of empty floors owned by investors.

I've heard Vancouver is undergoing the same thing. Guess the rich get richer or whatever people say.
Yea I read something like that today about big institute investors buying up the houses and flip them for over 20+%
post 1641189093 06-19-2021, 12:05 AM
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Originally Posted By nikonD70s⏩
Yea I read something like that today about big institute investors buying up the houses and flip them for over 20+%
They must be making bank, too bad that it makes housing unaffordable.

By the time the public catches on, things can go downhill fast.
Beans. Cleans. Gasoline.
post 1641189283 06-19-2021, 12:08 AM
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This market isn't cooling anytime soon.

All the millennials who had been renting shoe boxes to focus on their hobbies and social life suddenly realized why having more than 500 sqft is nice.
480s / 370b / 495d / 235 x 2 SOHP

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post 1641189433 06-19-2021, 12:12 AM
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Originally Posted By GixxerSixxer⏩
Seems impossible

Brb all cash offer appraisals waived
Now there's a miscer I haven't seen in awhile...
Cope first, cope hard, no realtea
post 1641190533 06-19-2021, 12:42 AM
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Originally Posted By BeanGainClovis⏩
That's crazy, I heard wealthy people and investment banks were buying up homes there for profit. They just overbid in cash and no one can compete. Makes homes unaffordable for people, and a lot of them are just held as vacant properties. Pretty absurd having all those homeless people right next to all those vacant luxury properties.

The gentrification end game is usually blue collar -> white collar -> then bankers/financiers who buy up the properties and just hold them vacant. Manhattan is like this now, huge expensive skyscrapers full of empty floors owned by investors.

I've heard Vancouver is undergoing the same thing. Guess the rich get richer or whatever people say.
Been like this, especially in popular vacation destinations. Hawaii is exceptionally bad. Kunts come in then buy out property and turn them into short term rentals then bankroll the profit. Some of the more desirable homes (think near the Obama vacation house) pull close to $750K/yr in AirBnB alone. You can tell just by looking inland on some beaches in the evening that they're vacant/fully furnished short term rentals.

Lucrative investment opportunity for sure. Kinda of funny to see the million dollar investment properties next to multi-generational homes that are total pieces of chit because they've just been passed down from generation to generation and they don't have any money to maintain them.
post 1641190603 06-19-2021, 12:45 AM
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Originally Posted By nikonD70s⏩
Here in socal it's only going up. Everything here is going up gas restaurant foods grocery. Average house is min 650k+ in a average city
650K in LA gets you a shack in the ghetto
post 1641191043 06-19-2021, 01:10 AM
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Originally Posted By GixxerSixxer⏩
Been like this, especially in popular vacation destinations. Hawaii is exceptionally bad. Kunts come in then buy out property and turn them into short term rentals then bankroll the profit. Some of the more desirable homes (think near the Obama vacation house) pull close to $750K/yr in AirBnB alone. You can tell just by looking inland on some beaches in the evening that they're vacant/fully furnished short term rentals.

Lucrative investment opportunity for sure. Kinda of funny to see the million dollar investment properties next to multi-generational homes that are total pieces of chit because they've just been passed down from generation to generation and they don't have any money to maintain them.
Pure greed. Can't really regulate it as these big banks have all three branches in their pockets. Lobbying and such.

Zuck got his Hawaii property by suing Indigenous tribes and forcing them to sell.

Basically scammed a huge chunk of Kauai and forced them out of their ancestral lands.

Mark my words, one of these days, when this reaches a tipping point, the people are just gonna take it all back.

We built all this stuff anyways, figure we are the rightful owners.
Beans. Cleans. Gasoline.
post 1641191453 06-19-2021, 01:31 AM
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Originally Posted By BeanGainClovis⏩
Pure greed. Can't really regulate it as these big banks have all three branches in their pockets. Lobbying and such.

Zuck got his Hawaii property by suing Indigenous tribes and forcing them to sell.

Basically scammed a huge chunk of Kauai and forced them out of their ancestral lands.

Mark my words, one of these days, when this reaches a tipping point, the people are just gonna take it all back.

We built all this stuff anyways, figure we are the rightful owners.
I don't disagree. When the lid is finally blown off the ever increasing wealth gap nothing good is going to happen.
post 1641191843 06-19-2021, 01:55 AM
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I bought a new build house. Was Def the way to go after putting offers on houses for a month. House is done and we’re moved in. Already up 65k Zillow tells me
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post 1641192513 06-19-2021, 02:27 AM
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Originally Posted By GixxerSixxer⏩
Seems impossible

Brb all cash offer appraisals waived
Well I’ve sold a few recently and people are buying them so must be possible
post 1641192523 06-19-2021, 02:27 AM
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You guys don't think that ending the eviction moratoriums will open up the supply?
post 1641192623 06-19-2021, 02:30 AM
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Originally Posted By BeanGainClovis⏩
That's crazy, I heard wealthy people and investment banks were buying up homes there for profit. They just overbid in cash and no one can compete. Makes homes unaffordable for people, and a lot of them are just held as vacant properties. Pretty absurd having all those homeless people right next to all those vacant luxury properties.

The gentrification end game is usually blue collar -> white collar -> then bankers/financiers who buy up the properties and just hold them vacant. Manhattan is like this now, huge expensive skyscrapers full of empty floors owned by investors.

I've heard Vancouver is undergoing the same thing. Guess the rich get richer or whatever people say.
You are simply a well intentioned retard. No offense.
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post 1641192703 06-19-2021, 02:35 AM
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Sold our first home last spring and bought our second last summer. Was 270k because it was derelict, now worth over 400k. Definitely glad we bought when we did the market here has exploded
post 1641193193 06-19-2021, 02:54 AM
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Originally Posted By ChewYourFood⏩
You guys don't think that ending the eviction moratoriums will open up the supply?
An eviction moratorium would reduce buyer demand (especially investor demand) because the return on the asset is put at risk

Ending the moratorium will increase asset values for rational investors
post 1641193473 06-19-2021, 03:03 AM
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Originally Posted By r32gojirra⏩
Ending the moratorium will increase asset values for rational investors
You have a pool of homes that have been squatted on for a year. Many landlords have had their asses handed to them and will put a FOR SALE sign the instant they can (because the bans are state / federally mandated - that x date will be the same for homes in each respective market) to cut their losses - which will flood the market with supply.

I have a feeling that when the moratorium ends and unemployment ends, this home / car bubble is going to pop. inb4 muh semiconductors.
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