Oh yes, I'm sure that Zestimate is exactly what you'd be able to sell it for.

Lol

In on daily mortgagecel cope thread

the only thing dumber than owning a property in 2022 is owning 2 properties. You would have to be a retard.

No worries, Bank of America has it covered.

https://www.mpamag.com/us/news/gener...ilities/419947

Bank of America expands minority lending possibilities
New program requires no down payment, has zero closing costs and waives insurance

1997 was probably the last time rates were this high

rates don't matter though. that's what the propertycels were screeching.

welp, I guess BlackRock wins.

they selling

same with open doors, zillow etc

Then how come I bought my condo for 310k in September and I see a couple days ago the exact same lay out condo 2 floors up sold for 325k

Never a bad time to own

where do you live again?

Looks like rentcels have officially missed the bus. Now that you can’t afford a house your landLORD will be able to charge whatever they want, and it’ll be going up as the demand for rental properties explodes due to poorcels flooding the market as the bus of prosperity leaves them behind.

Halifax

Just lmao at the rentcel cope

In 2-3 years the prices will be much higher than now.

Vacancy rate is damn near 0 in halifax and I could get 1500 easy for rent if I wanted to rent it out

The winners are the Rentchads who resisted buying into the most inflated market of the last 100 years.

20% of renters not paying and it's a growing rate. the more you make it difficult the more likely they don't pay.


End up getting foreclosed on AND upside down on your house value.



brootal fate

Op won't post sauce bec it's a clickbait article lol

you can't rent out where you live. especially if it's a 1 bedroom condo.

your housing value will tank. it's hitting the central hubs first as people flee them but it will hit you later. interest isn't coming down any time soon.

Citation that blackrock is dumping their properties or negs

lol is this suppose to help convince ppl to take out a 8% anal rate?

the delusional response from people who bought recently will be

1. I bought at 3% rates...I am NEVER SELLING

2. I can always just rent it out


When the economy continues to get worse, unemployment rises, and job security is an an alltime low....you may need to sell, and you may not be able to find tenants. This is what happened in 2008.

If you bought 10 years ago (or even 5-6 years ago), you are probably OK. Or if you are buying now on a discount (already seeing 100k drops which I think will help keep you from going super underwater). But RIP to any buyer from 2020 to Q2 2022.

My brother and his wife bought a small home in 2006. They had 2 little kids at the time. House barely fit them. It was fine, they could build equity, stop being a RENTCELL, and move into something larger in a few years.

Well, they had more kids, kids got older and bigger, and they were 200k underwater on the home. Took them until 2019 to finally get what they paid for it, and they finally sold and bought something larger. It was a huge issue for them, caused lots of marital stress, and their kids were always at my parents house to play which was larger and more spacious. Not a disaster or anything (and he kept his job thankfully), but it was a huge sore spot for them.

You need to be careful, sometimes NEVER SELLING is as a much as a burden as selling at a loss.

The fuk "small home" did they buy 16 years ago that dropped hard enough to end up $200k underwater after a decade and a half of equity building plus value increases in that time? A "Small home" in my mind is maybe $300-400k today much less back in 2006

Your anecdote sounds like renter erotic literature to me

Poorcel larper back at it again lmao

BRB my property value goes down but my mortgage is still half of what I’d be paying for rent

Lmao

What happens to prices when supply remains constant and demand drops to quarter-century lows? Damn, I wonder....

they bought a townhome for like 350k (might been in 2007 or 08, but I digress). Went down to about 150k in value (this was a small bedroom community in washington state).

didn't really hit 350k in value until like 2018. ded srs.

I saw a home get sold in long island recently that finally hit its 2008 purchase price. its more common than you think. there were lots of people underwater over a decade in many parts of the country.

It's hilarious seeing the numerous coping threads from broke renters daily, meanwhile at my house and red hot FL market

How does this effect someone who owns their home, or even rentals for that matter, with no plans to sell? Once again the Misc copers trying to convince someone that something affects them when it doesn't.

these low iq idiots just don't get it.

Rent is due in 12 days, OP. Remember to tip your landlord 20-25%

After the decline in 2007, the overall US housing market was back above the previous high within 6 years. By 2017, the median house was sold at a price 31% higher than during the previous high a decade earlier in 2007

If what you're describing is true, it sounds like they were hit by the absolute worst circumstances possible considering how the overall market moved during the same timeframe combined with the principal loan amount declining simultaneously. And it sounds like they were likely leveraged to the brim.