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Forum ยป Fukking LMAO at real estate right now
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Thread: Fukking LMAO at real estate right now

post 1660412183 04-28-2022, 01:38 PM
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#31
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Originally Posted By EasyPassive⏩
lol just LMAOOOOOOOOO at homecels,

Especially those that bought in the last 3 years LMAOOOOOOOOOOOOOOOOOOOOOOOO O O O O O O O O O O

Imagine, just IMAGINE thinking a home is an investment LOLLLLLLLLMAMAMAMAMAOAOAOAOAOAOAOAOAOAOAOOOOOOOOOO OO

Imagine not understanding opportunity cost LMAOOOOOOOOOOOOOOOOO

Imagine being completely locked in a mortgage in this economy LMAOOOOOOOOOOOOOOOO

COPE INCOMING LMAOOOOOOOOOOOOO
Years ago I read something that was eye-opening. Not saying having a home doesn't have benefits for most people.

But I read that highest percentage of renters are the very poor...and the very rich. Cuz rich people can better returns on their money elsewhere.

obvs not always true as some markets tend to stay hot NYC SF.
post 1660412373 04-28-2022, 01:41 PM
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Originally Posted By andrepmeet⏩
Years ago I read something that was eye-opening. Not saying having a home doesn't have benefits for most people.

But I read that highest percentage of renters are the very poor...and the very rich. Cuz rich people can better returns on their money elsewhere.

obvs not always true as some markets tend to stay hot NYC SF.
100%

I agree most renters are brokecels,

But some are really smart and understands a home is NOT an investment, and these people are much richer than homecels
post 1660412383 04-28-2022, 01:41 PM
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Originally Posted By frankdtank20⏩
Obviously no 30% crash is coming. Even in 2008 nationally prices dropped ~15% and we're nowhere near that repeat. No NINJA loans these days. I think it will be back to the normalcy of it depends where you live. If prices flatlining or even going down a little freaks someone out, they probably sell every time the stock market has a few bad days.
Fuark, if it only crashes 15% I'll only be able to sell for a small profit after paying RE agent.

I think you guys spouting stuff about how buyers are in debt up to their eyeballs overestimate the payments on a mortgage when rates are in the 2.8% range. A $500,000 mortgage at that rate is only $2,054/month, of course taxes and insurance add on to that but if you bought somewhere that isn't a tax prison (in my state, for example) your taxes and insurance will only add like $300 to that. $2,354 a month for housing is affordable easily on a household income of $100k, and the median home sold for like $350k last year so take that for what its worth.
post 1660415583 04-28-2022, 02:42 PM
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Originally Posted By northernlights7⏩
Remember back when certain miscers used to make endless threads about things like hair/height/incel chit? The daily rentcel threads have basically replaced them all at this point.
I could probably whip up a decent covid vax thread if you've been missing them.lol
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post 1660416413 04-28-2022, 02:56 PM
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Originally Posted By EasyPassive⏩
lol just LMAOOOOOOOOO at homecels,

Especially those that bought in the last 3 years LMAOOOOOOOOOOOOOOOOOOOOOOOO O O O O O O O O O O

Imagine, just IMAGINE thinking a home is an investment LOLLLLLLLLMAMAMAMAMAOAOAOAOAOAOAOAOAOAOAOOOOOOOOOO OO

Imagine not understanding opportunity cost LMAOOOOOOOOOOOOOOOOO

Imagine being completely locked in a mortgage in this economy LMAOOOOOOOOOOOOOOOO

COPE INCOMING LMAOOOOOOOOOOOOO
Hnnnng bought my house end of 2018, for $615k, appraised for 1.4m couple months ago.

HNNNNNNNNNNG COPEEEEEEE WHATEVER WILL I DO
post 1660416453 04-28-2022, 02:57 PM
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Originally Posted By LinuxJon⏩
You're missing the difference here.

Interest rates don't really matter to people buying investment properties.

If rates skyrocket, that's just going to make it harder for your tenants to ever consider anything besides renting.

Beyond that, hardly anyone has adjustable rate loans anymore.

This market will definitely cool off and correct at some point, but it's not going to be a collapse. There's nothing to feed the spiral. People aren't going to randomly foreclose on their homes when their payments stayed the same.
We had a lot of investment buyers with the lower interest rates coming through our funnel. To the point we had to alter our software to better service what had previously been an edge case. That number has dropped off.
post 1660416753 04-28-2022, 03:06 PM
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House across the street from me just sold at 100k over prices 2 years ago. When it went up on the market everyone laughed because rates were now at 5.2% + and the asking price was absurd.

Literally within 2 days I watched like 20 people come and go, and that was just about 2 hours after work, It was contingent, then back on the market, then the next day sold.

This is in IL too so I'm still not seeing any sort of housing crisis on the horizon here. Even with all of these "indicators."

I noticed something too when watching the people going to the house. They were all younger couples going with their families. You know what that means? Parents are putting the down payment down or helping their kids to get a house because of the prices.
post 1660419233 04-28-2022, 03:54 PM
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Originally Posted By DeadlyStriker⏩
I noticed something too when watching the people going to the house. They were all younger couples going with their families. You know what that means? Parents are putting the down payment down or helping their kids to get a house because of the prices.
It does?
post 1660419293 04-28-2022, 03:56 PM
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It's stupid. Just sold my rental house and walked away with $162K
You are the only problem you will ever have and YOU are the only solution.

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post 1660419493 04-28-2022, 03:59 PM
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Originally Posted By Anachron⏩
Is this like the March 2022 crash that OP predicted?

Here's the thing with "predicting crashes" all the time -eventually the blind chicken finds a worm too.
Interesting. i was always told "Even a blind squirrel will get lucky and find a nut" I wonder if depending on where you live, the animal in the saying is slightly altered.
post 1660419693 04-28-2022, 04:05 PM
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Originally Posted By fishnbrah⏩
It does?
Yes. My mother is in commercial property, but talks to a lot of people obviously, and I guess this is the new thing now. I brought it up after seeing so many parents with these young couples at the house and she said that a lot of people are helping their kids with the down payments of their houses now.
post 1660419863 04-28-2022, 04:09 PM
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Our boyo Sal29 has cash
post 1660419943 04-28-2022, 04:10 PM
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Originally Posted By soaponarope1⏩
Fuark, if it only crashes 15% I'll only be able to sell for a small profit after paying RE agent.

I think you guys spouting stuff about how buyers are in debt up to their eyeballs overestimate the payments on a mortgage when rates are in the 2.8% range. A $500,000 mortgage at that rate is only $2,054/month, of course taxes and insurance add on to that but if you bought somewhere that isn't a tax prison (in my state, for example) your taxes and insurance will only add like $300 to that. $2,354 a month for housing is affordable easily on a household income of $100k, and the median home sold for like $350k last year so take that for what its worth.
I've read that you should estimate 3% of your home value in operating costs every year above the mortgage payment. So that's things like taxes, utilities, maintenance, plumber visits etc, appliances, expensive stuff that you might need every ten years like a new roof, furnace, etc. Even taking care of the lawn costs a bit annually. So your $500k home has a 2k mortgage plus about 1.5k a month in other overhead (obviously spread over time).

One trap home owners fall into all the time is thinking that it's just the mortgage payment. Renters don't pay for most of that stuff (usually utilities and that's it) and landlords can only charge what the market will bear, so it's not like they can recoup losses all the time by charging more to the next guy.

Rentals in my city are currently MUCH lower than if you bought the same place, especially when you consider people are overbidding like crazy and already house poor when they start out. So many house poor people coming into play once interest rates go up a couple of more points.
post 1660420333 04-28-2022, 04:19 PM
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If you boyos ain't getting a 60% discount, you overpaid....
Everything I post is satire.
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post 1660420553 04-28-2022, 04:23 PM
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Originally Posted By WoofieNugget⏩
I've read that you should estimate 3% of your home value in operating costs every year above the mortgage payment. So that's things like taxes, utilities, maintenance, plumber visits etc, appliances, expensive stuff that you might need every ten years like a new roof, furnace, etc. Even taking care of the lawn costs a bit annually. So your $500k home has a 2k mortgage plus about 1.5k a month in other overhead (obviously spread over time).

One trap home owners fall into all the time is thinking that it's just the mortgage payment. Renters don't pay for most of that stuff (usually utilities and that's it) and landlords can only charge what the market will bear, so it's not like they can recoup losses all the time by charging more to the next guy.

Rentals in my city are currently MUCH lower than if you bought the same place, especially when you consider people are overbidding like crazy and already house poor when they start out. So many house poor people coming into play once interest rates go up a couple of more points.
Lol at thinking renters don't pay for maintenance costs.

This whole rent vs buy conversation is dumb though. For some people it makes sense to rent and for others it makes sense to buy. Lifestyle is the determining factor, a home isn't an investment.
post 1660420903 04-28-2022, 04:29 PM
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ITT: Rentcells showing their stupidity as per usual. SSDD

No there won't be a crash like we saw in 2008-2012. However I think it will calm down quite a bit. This BS of homes going for 20% over market value is about to fall off. It will probably go back to a more normal market but inflation will keep the prices up there.
post 1660421273 04-28-2022, 04:37 PM
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post 1660421333 04-28-2022, 04:38 PM
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Lol renters

When will they learn
post 1660421343 04-28-2022, 04:38 PM
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All I know is, when in doubt, jack the rent.


Its far better to make some rentcel pay the mortgage.
post 1660422553 04-28-2022, 05:06 PM
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Originally Posted By ymer⏩
It's hilarious how defensive and angry homewnercels always get when they are called out with numbers and facts.

Not a single argument, only "lmao" and "cope" responses.
The person posting that response never says anything beyond a statement he never backs up and a smiley face.
post 1660423083 04-28-2022, 05:21 PM
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I really hope the housing markets corrects itself as is now its absolutely insane how the prices have gone up. I would say the pay rate has gone up maybe 10% on average in the last 3-4 years and the housing prices have increased 50%-100% in that same period..


Also lol at everything falling apart with the Dems in charge litearlly everything is falling apart. Even Amazon posted a 3.8 billion quarterly loss INSANE.
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post 1660423293 04-28-2022, 05:27 PM
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Originally Posted By Jasonw1178⏩
ITT: Rentcells showing their stupidity as per usual. SSDD

No there won't be a crash like we saw in 2008-2012. However I think it will calm down quite a bit. This BS of homes going for 20% over market value is about to fall off. It will probably go back to a more normal market but inflation will keep the prices up there.
yeah it'll calm down about 40%.

NAR is a RE bull and they say values will decrease 9% this year.
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post 1660424933 04-28-2022, 06:28 PM
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Biggest COPE of the misc for the last couple years has to be the rentcels playing mental gymnastics thinking they aren't getting absolutely CUCKED.
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post 1660424973 04-28-2022, 06:29 PM
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Originally Posted By ooph⏩
Hnnnng bought my house end of 2018, for $615k, appraised for 1.4m couple months ago.

HNNNNNNNNNNG COPEEEEEEE WHATEVER WILL I DO
Bro I am struggling with the same issue! Bought my house in April 2019 for 1M and now Zillow/Redfin have it at 2.2M. How should I handle my $730k loan without being upside down and losing my whole life blahhhhh cooooppppeeeee hnnnnggggg fuuuuuuuu
post 1660665963 05-03-2022, 01:16 PM
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Originally Posted By BothellBarbell⏩
Bro I am struggling with the same issue! Bought my house in April 2019 for 1M and now Zillow/Redfin have it at 2.2M. How should I handle my $730k loan without being upside down and losing my whole life blahhhhh cooooppppeeeee hnnnnggggg fuuuuuuuu
I think the part where you didn't sell at the peak to realize your gains is the issue

home sales are down 9% in march
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post 1660666063 05-03-2022, 01:19 PM
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Originally Posted By BothellBarbell⏩
Bro I am struggling with the same issue! Bought my house in April 2019 for 1M and now Zillow/Redfin have it at 2.2M. How should I handle my $730k loan without being upside down and losing my whole life blahhhhh cooooppppeeeee hnnnnggggg fuuuuuuuu
Lol!

You don't know it, but that thing would sell for maybe $1.2M right now. And less than what you paid for it in another 6 months. Homes in my city are being listed for about 15% less than what Zillow Algorithms are pricing them at, and selling for less.
post 1660666283 05-03-2022, 01:23 PM
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Originally Posted By OliverHeldens⏩
Lol!

You don't know it, but that thing would sell for maybe $1.2M right now. And less than what you paid for it in another 6 months. Homes in my city are being listed for about 15% less than what Zillow Algorithms are pricing them at, and selling for less.
Probably would only get 1.2 million right now. Lol at people taking this Zillow estimate seriously.

All Florida agents in my ******** are posting everday looking for leads, and some "Successful" agent i know from NY is flogging like a free appraisal worth 250 dollars lol.
post 1660666323 05-03-2022, 01:24 PM
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Originally Posted By GeezersPalace⏩
Probably would only get 1.2 million right now. Lol at people taking this Zillow estimate seriously.

All Florida agents in my ******** are posting everday looking for leads, and some "Successful" agent i know from NY is flogging like a free appraisal worth 250 dollars lol.
Florida sales numbers are down in general just from lack of inventory

people just haven't listed houses in the first place so RE agents have to take what they can get.
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post 1660667713 05-03-2022, 01:52 PM
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Despite objectively looking like a sub 80 iq manlet at the moment OPs got a good schtick going. If he keeps saying real estate will crash he'll be right and can just forget about the years he spent being wrong. Meanwhile everyone who bought a home before rates went up will be sitting on 30% increased equity and payments lower than anyone in history even after the coming "crash".

If op had any actual knowledge of RE he'd stfu and use it to maximize his own profit.

I'll keep on happily paying my mortgage that is equivalent to a 190,000 mortgage at today's rates, guess if my home loses 51% of it's value (I did the math) I'll be underwater for a few months until it recovers. How will I cope
post 1660667793 05-03-2022, 01:53 PM
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ITT Zillow has the final say in home appraisals

B-b-but Zillow said!!! Love to see the cope
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