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Ammanas posted:youre right, for traditional financial guidance of no more than 30% income going to housing you'd need around 8900/month for that loan assuming you put 20% down For example, Santa Clara County has supposedly seen a ~25% drop in the median house price since the peak in Q2 2022. A friend of mine who regularly scrapes RedFin hasn't seen any real price drop in the places where the jobs are. It is possible that listings in Mountain View (for example) are going for tens of percent under asking, but I doubt it. We suspect that bedroom communities in Gilroy and in the mountains are getting hit by price drops (from the peak) because the most desperate buyers those locations target have decided to wait out whatever this is. If you were planning to live in Tracy, now might not be such a bad time to buy, I have no idea, but the only change I have seen is that the parabolic price increases have stopped and most people are happy to buy/sell at current prices.
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Jan 29, 2023 19:25
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MickeyFinn posted:For example, Santa Clara County has supposedly seen a ~25% drop in the median house price since the peak in Q2 2022. A friend of mine who regularly scrapes RedFin hasn't seen any real price drop in the places where the jobs are. It is possible that listings in Mountain View (for example) are going for tens of percent under asking, but I doubt it. We suspect that bedroom communities in Gilroy and in the mountains are getting hit by price drops (from the peak) because the most desperate buyers those locations target have decided to wait out whatever this is. If you were planning to live in Tracy, now might not be such a bad time to buy, I have no idea, but the only change I have seen is that the parabolic price increases have stopped and most people are happy to buy/sell at current prices.
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Jan 29, 2023 19:30
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Xaris posted:yeah bay is not really dropping. about the best you can say is maybe people aren't offering $200k over asking or whatever, but listings are still massively elevated compared to even 2020 prices are very likely never returning to 2020 levels. i imagine they'll fall to 2021 and hover there for a while with some markets dropping (as they are currently) right now we're seeing exurbs in vast swaths of land get hit the hardest. new houses are where most of the price drops/concessions are (and these are in the exurbs) if housing prices do drop dramatically, it took like 3-4 years for them to bottom out from the 2008 financial crisis. housing inventory still hasnt even recovered to 2020 levels
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Jan 29, 2023 19:45
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anime was right posted:
These places are straight up trash in the middle of nowhere and they're still getting buyers   I don't know who's buying them, this is what they actually look like  (no one buys the optional deck so everyone gets a hosed up baby gate)
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Jan 29, 2023 19:51
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Pittsburgh Fentanyl Cloud posted:These places are straight up trash in the middle of nowhere and they're still getting buyers theyre still getting buyers because theres a glut of inventory on them and theyre lowering prices in a lot of areas the northeast, florida, and midwest are the places most unaffected by housing pricing changes right now also not gonna lie, people itt are looking at this pretty anecdotally imo.
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Jan 29, 2023 20:07
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love watching a bunch of townhomes go up and then seeing that half of them were immediately bought and listed for rent on Zillow
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Jan 29, 2023 20:35
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anime was right posted:
sure but thats tied to how local real estate markets are and how questionable the research of msm stories about real estate is
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Jan 29, 2023 22:41
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Ammanas posted:sure but thats tied to how local real estate markets are and how questionable the research of msm stories about real estate is yeah locality is a huge factor here. like nationally theyre doing bad but thats because the places that crashed first in 08 are currently eating poo poo as other places have stopped really gaining. im doubtful we'll get another 08 but if like, boston (which is i think the most insurmountable market currently) will ever crash its gonna take a couple of years to feel
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Jan 29, 2023 22:51
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Pittsburgh Fentanyl Cloud posted:All the talk about prices going down any minute now is bullshit in my experience here too. prices are still elevated and haven't gone down at all while rates went from 3.5% to over 6% why is the oven floating in the middle of a room
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Jan 30, 2023 04:59
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euphronius posted:why is the oven floating in the middle of a room idk would be good in winter to keep everything warm imo
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Jan 30, 2023 05:14
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so australia has a huge housing investment culture. i think i did the math before, the average australian homeowner owns two homes. right now rental vacancies are like 1% or 2%. prices are 'declining' but that's on almost no stock coming to market, there's certainly not a panic rush to sell. but just recently some of the weaker investment hands are getting shaken out - i've seen a lot more smaller units/apartments coming on the market for reduced prices. great, i though, maybe a chance to escape rental price jack hell and buy something extremely modest finally. rates are higher than they have been, but i'm going in with open eyes. the problem is that these are getting immediately snapped up by richer investors at auction. went to an inspection on saturday and it was 95% grey hair. overheard one old guy talking to the agent, started out with "so we'd like to buy this place as an investment in our daughter's name..." i'm sure there's some convoluted tax dodge reason for that. or they're just collecting dwellings like they're funkopops. anyway it's completely hosed and now it's just the very rich hoovering up the investments of the bandwagon investors, further consolidating ownership among fewer and fewer while doing jack poo poo for affordability, new dwelling supply, or rent reductions. jack up mortgage rates to 15% and kill everyone instantly.
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Jan 30, 2023 08:03
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Mola Yam posted:so australia has a huge housing investment culture. i think i did the math before, the average australian homeowner owns two homes. The good news is that you can be an eye witness during the citizen’s trials and can help distribute those properties to people who want to live there.
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Jan 30, 2023 16:20
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Pittsburgh Fentanyl Cloud posted:All the talk about prices going down any minute now is bullshit in my experience here too. prices are still elevated and haven't gone down at all while rates went from 3.5% to over 6% So wait, is there no range over the gas cooktop? Like all of the heat and oil etc. from cooking on the stove just goes straight up onto the base of the microwave hanging out up there? Mola Yam posted:so australia has a huge housing investment culture. i think i did the math before, the average australian homeowner owns two homes. Yeah same in NZ, plenty of open homes we went to had older couples there looking to buy houses for their children. Raising rates doesn't actually make housing more affordable though, it just makes the cash buyer that much more powerful, so if anything higher rates and lower prices just accelerates upwards wealth transfer. The only thing that could actually make a difference is some sort of super-taxation on owning multiple properties. But no government actually has any incentive to really bring housing prices down because so many people's life savings are tied up in property, they'd get instantly voted out and probably assassinated by a mob of chuds or given the Epstein treatment. The only people hurt by unaffordable housing prices are poors and youngs who are un-people anyway.
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Jan 30, 2023 19:18
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Blackhawk posted:So wait, is there no range over the gas cooktop? Like all of the heat and oil etc. from cooking on the stove just goes straight up onto the base of the microwave hanging out up there? The vast majority of US houses and apartments have a microwave range hood which sucks up the cooking fumes and runs them through a filter in the microwave housing that no one ever cleans.
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Jan 30, 2023 19:22
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The Oldest Man posted:The vast majority of US houses and apartments have a microwave range hood which sucks up the cooking fumes and runs them through a filter in the microwave housing that no one ever cleans. Weird, never heard of or seen that before. I believe it's a legal requirement over here now that if you want to rent out a property there needs to be some form of fume extraction in the kitchen which exhausts to outside the house. But of course there's no enforcement, and what are the renters going to do, complain to the landlord?
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Jan 30, 2023 19:43
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I've straight up never lived anywhere with an actual fume extractor in the kitchen in my life. Half the apartments with actual vent hoods just blast them up into the cabinets or whatever. My current house has the microwave exhaust filter thing.
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Jan 30, 2023 19:49
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the microwave exhausts still go out of the house if you set them up right I guess
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Jan 30, 2023 19:50
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esp in pre ww2 homes you aren’t going to see any range exhaust leaving the house. I rented a 1919 house for awhile and just baking would trigger the fire alarm. open the cabinets above your oven and lmao
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Jan 30, 2023 20:34
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Mola Yam posted:so australia has a huge housing investment culture. i think i did the math before, the average australian homeowner owns two homes. do you still have reverse gearing or whatever it was called where landlords get tax breaks for losing money on rentals?
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Jan 30, 2023 20:34
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My wife's grandma's house has a little door with a fan in it on the wall, when you pull a chain it pops open and starts running. very high tech.
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Jan 30, 2023 20:42
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Median house was built in 1983 . (median age 40 years ). 1919 is pretty old
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Jan 30, 2023 20:55
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We had a minor fight with our general contractor about putting in a proper fume extractor hood in the kitchen. This guy is one of the larger home builders in this area who typically does construction on $1m+ "luxury" developments and he'd literally never installed a real one before. Got super pissy about having the consult with the HVAC guy to deal with make-up air and building codes. edit- same guy pushed ultra hard for gas appliances, which we were going to do anyway because all the plumbing was in the house already and it's drastically cheaper here
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Jan 30, 2023 20:59
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euphronius posted:Median house was built in 1983 . (median age 40 years ). 1919 is pretty old where I live most are older than average https://www.accesskent.com/Health/Lead/pdf/2018_Report.pdf page 12-13 quote:Drinking water is not the main source of lead poisoning. Instead it is lead-based paint found in older homes and in bare soil around them. Four of five homes in Grand Rapids, and nearly three of five homes in Kent County, were built before 1978, the year lead was banned from paint. my whole neighborhood is mostly pre 1950 and where I rented closer to city center that goes down to like 1940s or older. winter is a Time Machine here because snow covers up these old houses a lot. the only thing that pulls me back to the present are the cars.
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Jan 30, 2023 21:10
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Mola Yam posted:so australia has a huge housing investment culture. i think i did the math before, the average australian homeowner owns two homes. crazy how every allied power has literally all the wealth tied up in the older generations and now those riches are becoming generational and mobility has collapsed, hmm raising rates will have 0 positive effect. institutional and older landlords are not buying on traditional credit and have so much excess capital and theres nowhere to put it anymore except real estate so they'll just keep buying everything anyway. lowering rates is the only way working people can 'compete' with institutions but prices would almost certainly keep skyrocketing and inflation-corporate greed would keep shooting up too. literally the only mechanism out of this is wealth taxes i live in California so we absolutely must repeal prop 13 before anything else but that will flat out never happen until boomers are mostly dead. Ammanas has issued a correction as of 06:45 on Jan 31, 2023 |
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Jan 31, 2023 06:37
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https://twitter.com/CheapoCrappy/status/1620096891487924225
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Jan 31, 2023 06:45
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what is that metal thing going off into the sky
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Jan 31, 2023 07:01
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cool av posted:what is that metal thing going off into the sky A shortwave radio antenna, probably.
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Jan 31, 2023 15:09
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A seven sided lighthouse made of nightmares
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Jan 31, 2023 15:11
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this place won't last long enough to replace the roof, but lol at what replacing that roof would cost
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Jan 31, 2023 15:18
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Impressive that someone took "East German border circa 1983" and made an entire architectural aesthetic out of it.
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Jan 31, 2023 15:22
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"I've always wanted my own air traffic control tower." - John Travolta, probably
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Jan 31, 2023 15:30
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can you imagine heating that thing
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Jan 31, 2023 15:47
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that’s a prison guard tower
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Jan 31, 2023 15:48
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*showing my architect a picture of Groverhaus and a picture of a concentration camp*
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Jan 31, 2023 15:49
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Joementum posted:*showing my architect a picture of Groverhaus and a picture of a concentration camp* Lmao
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Jan 31, 2023 15:55
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Joementum posted:*showing my architect a picture of Groverhaus and a picture of a concentration camp*
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Jan 31, 2023 16:31
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Joementum posted:*showing my architect a picture of Groverhaus and a picture of a concentration camp*
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Jan 31, 2023 16:48
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https://www.zillow.com/homedetails/4665-Roundtop-Rd-Ellijay-GA-30540/105264582_zpid/ The interior is boring except the crows nest appears to have an intercom.
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Jan 31, 2023 19:12
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Big fan of the price history button, only three times what it went for in 2007
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Jan 31, 2023 19:16
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Nothus posted:https://www.zillow.com/homedetails/4665-Roundtop-Rd-Ellijay-GA-30540/105264582_zpid/ Oh, this makes more sense. The tower gives you a panorama view of the mountains above the canopy. Most rich people just bulldoze all the trees on their land for that view. Ellijay is a cool place (in a redneck kind of way).
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Jan 31, 2023 19:42
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