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Paradoxish posted:My favorite part about suicide cables is that every single time they come anywhere online, there are guaranteed to be a ton of morons in the comments insisting that while yes, they are very dangerous, they know better and their setup is perfectly safe. this is the thing about human stupidity at large, a constant steam of idiots who have yet to burn down their house stepping into the void left behind by the idiots who burned their houses down and learned some humility, maybe
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Sep 20, 2022 01:39
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The Oldest Man posted:why is the wall plugged into the wall Smart Walls. There's an app. Puts you in complete control over your walls. Only $5 a month!
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Sep 20, 2022 03:29
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The Oldest Man posted:"You know power outages - so inconvenient, right? So what we're going to do is wall a diesel standby generator in where the laundry chute used to be, route the exhaust into the second bedroom, put it on an automatic bypass switch made out of two tin cans and a 1901 penny I found in the foundation, and then connect it into the house with a suicide cable." This is just Tool Time
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Sep 20, 2022 05:13
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Paradoxish posted:My favorite part about suicide cables is that every single time they come anywhere online, there are guaranteed to be a ton of morons in the comments insisting that while yes, they are very dangerous, they know better and their setup is perfectly safe. Yeah they should really be called gross negligence cables
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Sep 20, 2022 05:40
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some people think every idea that pops into their head must be smart because they had it
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Sep 20, 2022 05:42
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number go up
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Sep 23, 2022 19:57
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from the pages of Architectural Digest......... https://twitter.com/TheAshleyClem/status/1573359733503070208
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Sep 23, 2022 20:13
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lol but also guest rooms are stupid anyways, wow let me pay tens of thousands of dollars more for my home for a room that will be used twice a year unless it's something you can utilize the rest of the year for some other purpose, then it's w/e
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Sep 23, 2022 20:24
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The biggest problem with a guest room is that if I have one, then my family will want to come over and stay with me. Also dining room, let's reserve an entire room with doors for eating a meal. Get out the gold rimmed plateware, my stay at home wife spent 6 hours cooking a roast. But first, let us pray. You're the guest -- why don't you get us started?
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Sep 23, 2022 20:27
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poo poo who needs a house anyway all I really need to do to survive is drink fresh water and eat freshwater salmon and hibernate in my den six months a year, gently caress
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Sep 23, 2022 20:29
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two houses on my street that would have been sold in a day are still for sale a week later. even in the “cheaper” market of west Michigan poo poo is cooling. I know one of the families and they bought a house in a pricier part of the area but I know their incomes don’t match it. it’s more about how they bought their house 10 years ago at 120 and now on market for 315.
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Sep 23, 2022 20:39
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my guest room is my couch
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Sep 23, 2022 21:14
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actionjackson posted:number go up  
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Sep 23, 2022 21:30
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we all knew it was coming, but still endless sigh
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Sep 23, 2022 22:23
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I want 6.9% because that’s the funny sex number
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Sep 23, 2022 22:38
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Lol. $130k house on 40 acres I posted about earlier this week went from pending to knocking the price down to $100k flat in the past 3 days. Also the "owner financing possible" string in the listing is now capitalized with many !!! after it. Lmao.
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Sep 24, 2022 01:18
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It's interesting because with everybody who was lucky enough to buy a home (well, that needed to get a mortgage for it, anyway) having locked in crazy low rates just a year ago, the only people who are willingly selling in a time of falling prices are people who really need to sell, which is probably gonna push prices down even further. Eventually, I'm sure we'll see another Blackrock scooping them all up on the cheap and loving everybody else over, but for now, poo poo's gonna probably get pretty wild.
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Sep 24, 2022 04:43
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bitmap posted:living in europe and watching americans posting their bad houses and crazy prices Just had a fun time looking up price to income ratio for various cities around the world. Vancouver - 12.25 New York - 9.92 San Francisco - 6.42 Philadelphia - 3.84 Where I live: Auckland - 12.69 (nice) Which is obviously insanely unaffordable but also it's been that way for years and doesn't seem to be getting any better, so just because something's insane and unaffordable doesn't mean it can't be that way for decades
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Sep 24, 2022 06:55
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Do you get any government incentives or tax advantages in for owning a home in Auckland? I had the impression that Australia was subsidizing homeowners to a large degree but I know even less about New Zealand. This looks rather dire but then again its a small price to pay for proximity to New Eden Stadium. You could get munted and stagger over to watch the All Blacks. https://www.realestate.co.nz/42125532/residential/sale/25-bellwood-avenue-mount-eden Asking price is... $1,016,000 in USD. Are 30 year fixed mortgages available, or is everything a ~5 year adjustable rate? edit: I see many houses for auction but without a listed asking price, Auckland seems very expensive indeed if there aren't any houses listed for under 2,000,000 and you have to go to auction to have a chance. palindrome has issued a correction as of 07:58 on Sep 24, 2022 |
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Sep 24, 2022 07:46
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palindrome posted:Do you get any government incentives or tax advantages in for owning a home in Auckland? I had the impression that Australia was subsidizing homeowners to a large degree but I know even less about New Zealand. No such thing as a 30 year fixed mortgage, the longest is usually 5 years, but more often 2 or 1 year. Interest rates on a 5 year fixed mortgage here are around 6 to 7%. The vast majority of properties have been going to auction because they might be able to get more money that way, although in the last 6 months or so only about 25% of properties were actually selling at auction here, so most were eventually going to negotiation. I don't believe there are any tax incentives for individual home buyers here like there are in Australia, at least none I could make use of that I know of.
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Sep 24, 2022 09:15
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can any Canadians advise on how the hell people can afford homes there? it’s tough here in the states but I’m sure wages aren’t that much higher up there for homes 2x the value. is it like in hot us markets where you either bought a house 20 years ago and your equity can buy a house or parent loans?
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Sep 24, 2022 14:56
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Blackhawk posted:No such thing as a 30 year fixed mortgage, the longest is usually 5 years, but more often 2 or 1 year. Interest rates on a 5 year fixed mortgage here are around 6 to 7%. this is the crazy poo poo to me. the mortgages in Canada, Australia and parts of Europe are just brutal and the prices are still so high. it’s an ominous flashing neon sign with klaxons blaring warning danger for what could happen here.
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Sep 24, 2022 16:13
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sonatinas posted:can any Canadians advise on how the hell people can afford homes there? it’s tough here in the states but I’m sure wages aren’t that much higher up there for homes 2x the value. My cousin in Canada got a home by buying a plot of land and, being a licensed carpenter, built his own house.
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Sep 24, 2022 16:32
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Blackhawk posted:Just had a fun time looking up price to income ratio for various cities around the world. where are you getting 6.4 for SF? when I saw a list it was 10-11 hong kong was 23 lol
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Sep 24, 2022 17:57
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I dont suppose anyone here has built their own house in ireland
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Sep 24, 2022 18:05
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actionjackson posted:where are you getting 6.4 for SF? when I saw a list it was 10-11 My guess would be using mean instead of median, which is incredibly biased in any of the billionaire-housing markets. Median household income is 120k and median house is 1.5 million in SF.
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Sep 24, 2022 18:29
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bitmap posted:I dont suppose anyone here has built their own house in ireland I might have done that...hard to remember though rly nah on second though I don't think I did
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Sep 24, 2022 18:53
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cool av posted:I might have done that...hard to remember though rly oh! well thankyou anyway
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Sep 24, 2022 18:55
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Is this the highest YoY hike in mortgage rates historically, by percentage?quote:The average rate on a 30-year fixed mortgage rose to 6.29% this week, up from 6.02% the previous week, mortgage finance giant Freddie Mac reported on Thursday.
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Sep 24, 2022 19:13
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Willa Rogers posted:Is this the highest YoY hike in mortgage rates historically, by percentage? nah there were bigger hikes in the 80s, even comparing to the starting point. 8->18%. this is fast approaching that though. this is so far comparable to the 90s i think, but we're gonna see it go beyond that and maybe rival the 80s, but we're starting from a lower point. anime was right has issued a correction as of 19:22 on Sep 24, 2022 |
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Sep 24, 2022 19:20
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anime was right posted:nah there were bigger hikes in the 80s, even comparing to the starting point. 8->18%. this is fast approaching that though. yes it topped out at 18%, but the median income to median home price ratio was much lower then. I would love to find out what it was between 1950-1984 actionjackson posted:here's my incredibly lazily produced chart of median sold home price / median real household income, using FRED data. They only had median income back to 1984. actionjackson has issued a correction as of 19:32 on Sep 24, 2022 |
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Sep 24, 2022 19:29
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yeah the affordability is a completely different scenario. median income to house price was like what, 1:5? on top of a lower CoL. it was much easier to accumulate a 20%-40% down payment in that era or even just save cash with you + your parents money with a union gig.
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Sep 24, 2022 19:34
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anime was right posted:yeah the affordability is a completely different scenario. median income to house price was like what, 1:5? on top of a lower CoL. it was much easier to accumulate a 20%-40% down payment in that era or even just save cash with you + your parents money with a union gig. Yeah, people treating home prices as the only component (or even the most important one) for affordability is very frustrating.
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Sep 24, 2022 20:05
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here's a few numbers I found 1968 21700/7005 1975 32700/11000 so around three
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Sep 24, 2022 20:15
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Bar Ran Dun posted:this is the crazy poo poo to me. the mortgages in Canada, Australia and parts of Europe are just brutal and the prices are still so high. The 30 year fixed rate, government-backed mortgage and the notional idea of everyone (well not Those People but everyone else) being able to a detached sfh on a cul de sac is one of those uniquely American fictions that everyone here seems to assume is a Normal Natural Thing but is actually a massive government welfare program
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Sep 24, 2022 21:16
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I know all that. what’s stunning is that those other countries without that subsidy have housing inflation as bad or worse. how do you get those bubbles with such bad lending terms?
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Sep 24, 2022 21:38
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Bar Ran Dun posted:I know all that. You are looking at some of the most expensive cities in the world in those comparisons, with the added point that those are generally very restricted, tiny areas. A quick google shows that Auckland has an area of 419sq miles, compared to SF with a metro area of 3500 sq miles. But the other thing to keep in mind is the alternative: renting. Here's a comparison of price-to-rent ratio around the world. So this is price of the average square meter at city center to yearly rent of the square meter at city center: https://www.numbeo.com/property-investment/rankings_by_country.jsp?title=2020&displayColumn=3 As you can see, the ratio for the US is really low. Meaning that compared to the rest of the world, rents, compared to home prices, are super high. So sure, it can be expensive to buy a house in Canada. But rents are relatively low, so you are paying a year essentially 1/23 of the price of the house in rents. In the US, that number is 9.6. Which means that in a year you are paying 1/9.6 of the price of the house in rent. joepinetree has issued a correction as of 22:43 on Sep 24, 2022 |
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Sep 24, 2022 22:41
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Paradoxish posted:Yeah, people treating home prices as the only component (or even the most important one) for affordability is very frustrating. That reminds me of a really good video on that topic I saw a couple months ago: https://www.youtube.com/watch?v=PkJlTKUaF3Q
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Sep 25, 2022 01:25
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joepinetree posted:You are looking at some of the most expensive cities in the world in those comparisons, with the added point that those are generally very restricted, tiny areas. A quick google shows that Auckland has an area of 419sq miles, compared to SF with a metro area of 3500 sq miles. Yeah basically the vast majority of people in Auckland that I'm aware of rent, and not just rent an apartment but generally rent a room in a share-house with a bunch of other people, because the majority of housing here is detached single-family type houses. Only recently there have been some zoning changes and there's a bit of a boom in apartment and town-house construction, but generally anybody younger than gen-x can't afford to buy here. Oh and also most banks won't lend to you unless you can stump up a 10 to 20% deposit, so you're looking at needing $100 to $200k cash to have the privilege of a crippling mortgage. But yeah really I don't see why a similar thing couldn't happen in the USA, people seem to be hoping that things just can't get any worse but I could see housing in the USA getting significantly less affordable, because what are your options? Without housing you're pretty much done, better to go without food than housing if you've got the option.
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Sep 25, 2022 02:11
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Blackhawk posted:But yeah really I don't see why a similar thing couldn't happen in the USA, people seem to be hoping that things just can't get any worse but I could see housing in the USA getting significantly less affordable, because what are your options? Without housing you're pretty much done, better to go without food than housing if you've got the option. This has been happening in my city for a long time, single family houses have been bought up by investors and split into 2-3 units. I don't think it's legal for Joe the Landlord to just take a single-family 3br/1ba house and rent the rooms yet with assumed communal access to the bathroom and kitchen but that's coming.
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Sep 25, 2022 02:36
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