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https://www.realtor.com/realestateandhomes-detail/301-W-2nd-St_Assumption_IL_62510_M84762-58002?from=srp-list-card You could just buy a church that has a residence inside, or a residence that has a church downstairs. You could build a religion. You could be making a brand. Be the one to turn to when their castles turn to sand.   
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Jul 26, 2023 22:06
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You also have this $983/sqft cottage in Georgetown.   You even get a yard!  https://www.zillow.com/homedetails/...VLcAmfKFz6Tbl_U
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Jul 26, 2023 22:44
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A Bad King posted:You also have this $983/sqft cottage in Georgetown. I was thinking “ok maybe 300k. it would nice” nope
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Jul 26, 2023 22:47
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Home prices will never drop again because there is nowhere else for the money to go. I mean sure you could put your money in Silicon Valley, but every day the well gets drier and drier. If you're even modestly conservative with your investment you realize the only thing left in America is real estate. Homes will just be things that are traded between wealthy investors. The age of home ownership in America is over. I'm personally screwed, but I have to wonder isn't this for the better? Could things in America ever get better while the majority of Americans found themselves as homeowners? Probably not. The capitalist are destroying a major pillar of American society and perhaps it's a good thing in the long run.
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Jul 26, 2023 23:05
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if you have a mortgage now, unless you are brain dead stupid like PFC, you're stuck. moving means doubling a payment, or more.
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Jul 26, 2023 23:14
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JAY ZERO SUM GAME posted:if you have a mortgage now, unless you are brain dead stupid like PFC, you're stuck. moving means doubling a payment, or more. Stupid implies that I didn’t understand what I was doing
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Jul 26, 2023 23:35
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euphronius posted:I was thinking “ok maybe 300k. it would nice” Yeah it’s actually a cute little yard if it were at a quarter of that price
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Jul 26, 2023 23:45
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"oh this house full of bats? yeah that was a calculated move."
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Jul 26, 2023 23:50
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you can afford to move if you have tons of equity in the house you are selling which is still a big number of people if you scrapped your buy one in the last 10 years or so, it’s a lot harder yeah
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Jul 26, 2023 23:52
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We're going to go look at a house tomorrow, I am probably very stupid. I'm in northern california where things have been bad forever, so it's just like yeah, 700k seems like a reasonable price for a house. Sure. This is normal.
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Jul 26, 2023 23:55
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DR FRASIER KRANG posted:"oh this house full of bats? yeah that was a calculated move." It’s got nothing on the puget sound bat mansion
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Jul 26, 2023 23:57
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nikosoft posted:We're going to go look at a house tomorrow, I am probably very stupid. I'm in northern california where things have been bad forever, so it's just like yeah, 700k seems like a reasonable price for a house. Sure. This is normal. NorCal like Bay Area? Or real NorCal like Redding or eureka or something?
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Jul 27, 2023 00:01
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I'd be more practical about it - buy a place if it fits your budget. Trying to wait for prices to fall to an arbitrary value has probably hosed a bunch of people at this point.
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Jul 27, 2023 00:26
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euphronius posted:you can afford to move if you have tons of equity in the house you are selling which is still a big number of people I’d like to know when is the latest year by area was the last time one could save up to buy a first house that isn’t in disrepair. we moved from Raleigh to Grand Rapids in 2017 at 37 and part of the move outside of jobs was we could actually afford a first home. granted, we didn’t know the market was also hot there and all the “top places to buy/live” had the city on their lists. we ended up buying at the max of our budget.
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Jul 27, 2023 00:34
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the 1970s?
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Jul 27, 2023 00:40
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it's too bad the econ-related threads here don't stick around longer the canadian housing price thread in D&D started in 2013 and you still have the same group of posters from page 1 arguing that a price collapse is going to happen any moment now
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Jul 27, 2023 00:50
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there was a house price crash generally after 2008 but that also coincided with young people all losing their jobs lol so
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Jul 27, 2023 00:52
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euphronius posted:there was a house price crash generally after 2008 but that also coincided with young people all losing their jobs lol so Those losses were recouped and then some by 2012 sonatinas posted:I’d like to know when is the latest year by area was the last time one could save up to buy a first house that isn’t in disrepair. I just bought this place without taking equity out of my existing home so it’s almost like a first home purchase. We don’t have expensive hobbies or kids though
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Jul 27, 2023 00:58
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Pittsburgh Fentanyl Cloud posted:
alright that third one is blatantly “Live in this shed, this is your new home”
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Jul 27, 2023 01:06
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looked at another house. yes im probably going to waive inspection. house seemed in good shape and there's no guarantee that the inspector wont miss anything. im basically in a hopeless situation based on how dire the market is so gently caress it.
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Jul 27, 2023 01:26
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If you have a few days before offers need to be submitted you could try to get an inspection anyway. Not as part of a contingency but just to inform you and perhaps uncover a terrible secret. Or just say hell with it and be ready to fix the roof, foundation, sewer, water, electric, hidden heating oil/septic tank.
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Jul 27, 2023 01:44
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HashtagGirlboss posted:NorCal like Bay Area? Or real NorCal like Redding or eureka or something? There are still houses in the bay area for 700k??
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Jul 27, 2023 01:53
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palindrome posted:If you have a few days before offers need to be submitted you could try to get an inspection anyway. Not as part of a contingency but just to inform you and perhaps uncover a terrible secret. Or just say hell with it and be ready to fix the roof, foundation, sewer, water, electric, hidden heating oil/septic tank. not sure ill be able to squeeze that in since houses are on the market for mere days. this place just went on market yesterday and will accept final offers tomorrow. didnt see any red flags.
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Jul 27, 2023 01:54
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Ranter posted:There are still houses in the bay area for 700k?? 
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Jul 27, 2023 02:13
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Ranter posted:There are still houses in the bay area for 700k?? Not as far as I know which was why I asked
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Jul 27, 2023 02:21
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youll love this house! plenty of natural light from the missing windows, missing walls, and gaps in the siding. 
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Jul 27, 2023 02:45
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that's a model train village, can't fool me.
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Jul 27, 2023 02:47
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I guess it's a decent lot size, assuming you get the green space and part of the uh, driveway? I remember driving by a property for sale about 4 years back that was a dilapidated shack on a corner lot, with a sign that said something like "FOR SALE, DO NOT TALK TO PERSON INSIDE, THIS HOUSE IS CONDEMNED AND WILL BE RAZED. DONT INTERACT WITH ANYONE OTHER THAN REALTOR 555-555-5555"
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Jul 27, 2023 07:56
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Xeom posted:Home prices will never drop again because there is nowhere else for the money to go. I mean sure you could put your money in Silicon Valley, but every day the well gets drier and drier. If you're even modestly conservative with your investment you realize the only thing left in America is real estate. Homes will just be things that are traded between wealthy investors. The age of home ownership in America is over. I believe that money could go into buying up housing in other countries, OP. I know that's already a thing, but it can always get worse.
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Jul 27, 2023 08:04
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nikosoft posted:We're going to go look at a house tomorrow, I am probably very stupid. I'm in northern california where things have been bad forever, so it's just like yeah, 700k seems like a reasonable price for a house. Sure. This is normal. so why didn't you outbid people in 2020-2021 if you can afford to buy now? i mean if youre actively looking it implies you have the means to buy and could have done so before rates went up. i was "looking" in 20-21 mostly to humor my wife but we were already priced out back then BEFORE considering the overbidding going on
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Jul 27, 2023 12:51
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Pittsburgh Fentanyl Cloud posted:Those losses were recouped and then some by 2012 I should have added if the household income was less than 100k so it captures households that have the perception of affordability but probably do not. but this really varies by region which is what I was thinking. in this thread I see a lot of folks in areas that there is no way we could afford a home. for my spouses hospital job there are postings all the time for Seattle hospitals but even with house equity we would have to drain our bank account to still get out bid in a money pit an hour commute away. i used to live in Oregon from like 07-11 and the homes around me were like 200-400k at the time. if I wanted to buy it would have been way outside the city limits with 5%down and a prayer on my 45k salary and the only car I could afford was a 95 piece of poo poo that had engine bracket issues.
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Jul 27, 2023 13:47
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Ice Phisherman posted:I believe that money could go into buying up housing in other countries, OP. People in other countries don't want Americans there, and I can't blame them
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Jul 27, 2023 13:52
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the $700 homes in the neighborhood I wanna live are a bunch of trash homes that need extensive work to repair things like “holes in ceiling”. it’s rough - poo poo is so expensive that even the fantasy of owning a home is too fantastical homes should be for living not for profit
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Jul 27, 2023 15:02
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Ammanas posted:so why didn't you outbid people in 2020-2021 if you can afford to buy now? i mean if youre actively looking it implies you have the means to buy and could have done so before rates went up. Not saying this is at all true for the OP, but lots of buyers really are not fully grasping how dire the housing market situation is. People are running out and getting mortgages that are absolutely redlining their DTI and still thinking it makes sense to obsess over whether the kitchen flooring is a color they like. Every year there's a new generation of panic buyers who could have been the ones driving prices up with overbids a year earlier. If you can't pay a mortgage in your area with one hand tied behind your back then the best house is the one you can afford right now that has the lowest likelihood of turning into a money pit a year from now.
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Jul 27, 2023 15:03
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Maybe they should build more government subsidized houses, like we did 1936-1977 or so? idk, just spitballing here
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Jul 27, 2023 15:09
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Paradoxish posted:Not saying this is at all true for the OP, but lots of buyers really are not fully grasping how dire the housing market situation is. People are running out and getting mortgages that are absolutely redlining their DTI and still thinking it makes sense to obsess over whether the kitchen flooring is a color they like. Every year there's a new generation of panic buyers who could have been the ones driving prices up with overbids a year earlier. so had an hour conversation with our lender yesterday about something like this and we locked in the interest rate right now because it ain’t goin down also dude is telling me the housing market may be +12% next year so poo poo is going to get worse however I wonder what the impact will be though for people who want to sell and the diminishing amount of buyers who can pay, even with previous house equity and/or first time buyers. in costal or big city markets this will be severe and in poorer areas probably dire. but it will just go on it seems and everyone will be in debt to their eyeballs.
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Jul 27, 2023 16:00
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sonatinas posted:so had an hour conversation with our lender yesterday about something like this and we locked in the interest rate right now because it ain’t goin down also dude is telling me the housing market may be +12% next year so poo poo is going to get worse however I wonder what the impact will be though for people who want to sell and the diminishing amount of buyers who can pay, even with previous house equity and/or first time buyers. like, 12% growth or 12% interest rates? i could see the former, yeah
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Jul 27, 2023 16:03
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imo 40-year or longer mortgages will become the norm and the majority of new originations before we're anywhere near the top the answer is going to be more debt, not lower prices
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Jul 27, 2023 16:08
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i say swears online posted:like, 12% growth or 12% interest rates? i could see the former, yeah growth
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Jul 27, 2023 16:09
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Paradoxish posted:imo 40-year or longer mortgages will become the norm and the majority of new originations before we're anywhere near the top Yeah. It’s going the way of overpriced cars. They’ve normalized six year car loans to the point where last car I bought I had to really pressure the finance guy to put me on a 48 month and when he finally relented the interest rate was jacked to compensate and I had to spend more time fighting over that
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Jul 27, 2023 16:12
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