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The Oldest Man
Jul 28, 2003

tiiime waaaas *puts thumbs under suspenders*

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The Oldest Man
Jul 28, 2003


The Oldest Man
Jul 28, 2003

Bar Ran Dun posted:

my mortgage originator

“I am beginning to see a lot more reasonable offers being accepted at or below listing price. “

brace for impact

The Oldest Man
Jul 28, 2003

Redfin market insights for April

The Oldest Man
Jul 28, 2003

ate poo poo on live tv posted:

But if you are getting a mortage that your salary can't pay, you are just an idiot.

now to take a big sip of coffee

The Oldest Man
Jul 28, 2003

AnimeIsTrash posted:

Idk who is moving to Tacoma but I heard from my ex that place is getting insanely expensive now too.

This is where the tech people who want to spend 800k are going fyi

The Oldest Man
Jul 28, 2003

Nice and hot piss posted:

East Oregon obviously has some semi reasonable places to buy, but as everyone mentioned It's CHUD land and you're out in the sticks away from everyone. Also you'll probably need to have a remote/WFH job since I highly doubt there is any form of "tech" jobs there minus what you'd see in gov't or hospital/public service sector... and I doubt that there's more than a handful of those jobs even in existance.

The area around Pendleton Oregon is beautiful, you're a semi short drive away from the Wallowa-Whitman National Forest which has some incredible hiking, and the Columbia River is only one town away (not that you can really do much in it, because Hermiston Oregon sucks).


So unless you love being isolated in your house and literally only going out to get groceries/stuff early in the morning before people rise, the places that are worth living in Oregon are going to be insanely priced.

My mom would laugh so hard if she knew yuppies techbro scumbags were moving to the towns out there she spent her whole young adult life trying to get the gently caress out of

The Oldest Man
Jul 28, 2003

I have just learned that mortgage rates are going back down a bit

But only for jumbo loans

So really you'd be an idiot to get a mortgage for less than a million dollars

:chloe:

The Oldest Man
Jul 28, 2003

TheSlutPit posted:

Galaxy brain: Buy the house after it's already burned down to--the risk is priced in!



The Oldest Man
Jul 28, 2003


How the gently caress is that still happening with the market the way it is rn

Will these vultures never cease

The Oldest Man
Jul 28, 2003

anime was right posted:

leveraging a loan against those assets is basically how all turbo rich people create cash

why take money out and pay taxes when you can take a practically free loan against assets that will accumulate more money than the interest payment is worth?? this was basically the single smartest thing to do with low interest rates. thats gone now though lol

Those aren't assets they're leveraging - its future income paid out as stock.

Which means if the stock price goes down you take an automatic pay cut of that %, instantaneously.

Now use this future income as the basis for a maxed out mortgage and a funny thing occurs

The Oldest Man
Jul 28, 2003

Pittsburgh Fentanyl Cloud posted:

the condo is for sale

it's a condo

The Oldest Man
Jul 28, 2003

euphronius posted:

15000 a year better buy a lot

hey that ugly rear end unbroken expanse of concrete isnt going to keep itself depressing as gently caress

The Oldest Man
Jul 28, 2003

Crusty Nutsack posted:

that dumb barn door thing has gone way too far



l m a o

The Oldest Man
Jul 28, 2003

i am harry posted:

how does that left one work then...what with the...wall....

They both slide toward the center

The Oldest Man
Jul 28, 2003

Breakfast All Day posted:

once again failed by a lack of commitment. if theyd made the toilet lid slide over too this would be amazing

Barn garage door

Barn door fridge

Barn door washer/dryer

The Oldest Man
Jul 28, 2003

Crusty Nutsack posted:

more dumb barn doors



When you have 10k and decide to put a barn door on your shower instead of replacing your nasty rear end yellowing jetted corner tub

The Oldest Man
Jul 28, 2003

Drunkboxer posted:

im not a bathroomologist but i don’t think sliding shower doors cost 10 grand, barn or not.

https://www.lowes.com/pd/MAAX-Utile-Ash-Grey-5-Piece-Alcove-Shower-Kit-Common-32-in-x-60-in-Actual-32-in-x-59-875-in/1000211477

Add on demo, replumbing the new alcove, labor, etc. and you're clearing 10k easy for that.

The Oldest Man
Jul 28, 2003

lil poopendorfer posted:

That’s why they insulate exterior walls. HTH


bawfuls posted:

where do you think the ducts are running exactly? They are frequently running outside the insulated envelope, between the insulation and the exterior shell (like an attic or crawlspace)

Now now you don't know what all he wants out of his house - what if he wants to keep that blooming mold colony in his wall nice and toasty during the winter

The Oldest Man
Jul 28, 2003

WampaLord posted:

why do planning and design take 10 loving YEARS?

EIS and planning requirements to make sure NIMBYs have one million chances to sue the transit authority and derail the project but actually the reason is Sound Transit has statutory bonding authority limits and is not legally allowed to raise the money to build this stuff any quicker, rip

The Oldest Man
Jul 28, 2003

H.P. Hovercraft posted:

two owners ago they went bankrupt renovating this place and it led to a divorce

according to the neighbors they were total assholes tho

House stuff expenses can get away from you real fast and the bigger the square footage of the house the faster it happens.

The Oldest Man
Jul 28, 2003

why is the wall plugged into the wall

The Oldest Man
Jul 28, 2003

Bar Ran Dun posted:

lol is that a double male cord? that’s amazing

Nothus posted:

This Old Groverhaus

"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."

"Sounds great, Bob."

The Oldest Man
Jul 28, 2003

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.

Every. Single. Time.

Yeah they should really be called gross negligence cables

The Oldest Man
Jul 28, 2003

actionjackson posted:

number go up




:eyepop:

The Oldest Man
Jul 28, 2003

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.

it’s an ominous flashing neon sign with klaxons blaring warning danger for what could happen here.

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

The Oldest Man
Jul 28, 2003

Bar Ran Dun posted:

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?

Global capital hunting for returns like a truffle pig mostly

The Oldest Man
Jul 28, 2003

Jenny Agutter posted:

maybe this has already been discussed here but it’s new to me https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent

industry-wide price fixing , but it’s an algorithm so who’s to say if it’s legal or not

Racketeering as a service isn't illegal.

The Oldest Man
Jul 28, 2003

Paradoxish posted:

Like the answer for how often a home should be updated is actually, literally, "never," at least if you're talking about middlemen who come in and do it for a profit. There's no reason for that ever to happen and it adds effectively zero value for the new buyers, who could have the exact updates and improvements they want for a fraction of the markup they're paying.

The thing I find most irritating about the flipper aesthetic is the same thing I find irritating about new cars. They push materials choices (marble countertops vs shiny black plastic finishes) that look good once, for like a minute, just long enough to sell the product. Then they go completely to poo poo as soon as you use them in the real world. It's maddening that that's where the money goes.

The Oldest Man
Jul 28, 2003

HashtagGirlboss posted:

Still the worst was the landlord who ignored my complaints for six months that cats were living in the crawl space under the house and then withheld my deposit under the justification that I had unpermitted pets and the place needed to have pest control take care of fleas. And while I think the implication is clear I’ll say outright that I did not have a pet

[stimpack noise] that's the stuff

The Oldest Man
Jul 28, 2003

i say swears online posted:

most dishashers have a "heavy mode" that you basically never need to use unless you're cleaning six crock pots used for week-old queso all at once

Mine has a a heavy mode, a fast mode, but you can actually throw both switches together to get something referred to in the manual as "STRONG AND FAST" (lol) mode that uses according to the manual almost five gallons of water and just powerbombs food off the dishes I guess? The normal mode uses like 1.5 gal

I've never used it

The Oldest Man
Jul 28, 2003


NOW THAT'S WHAT I CALL EVIL

The Oldest Man
Jul 28, 2003




My business plan is to buy old people's houses from them and still hold them financially responsible for property maintenance



And I'll raise their rent 8% every year for five years, then I'll raise it to $WHATEVER_THE_FUCK_I_WANT



Positive solutions to include:
-cashing out grandchild's trust fund to avoid homelessness
-dying

The Oldest Man
Jul 28, 2003

actionjackson posted:

:siren:

https://archive.ph/dHANR

:siren:

also 30 year now at... 7.2%? lol amazing



:eyepop:

The Oldest Man
Jul 28, 2003

Ornery and Hornery posted:

*extremely lib-ishly* yeah it’s high compared to recent rates, but compared to historic rates, 7.25% is quite low!!!

It's the most affordable housing in history when you consider that financial products that turn you into a feudal serf operating an AirBnB didn't exist two years ago

The Oldest Man
Jul 28, 2003

Willa Rogers posted:

why aren't these places using that software that replaces uggo furnishings with tasteful decor?

like, even fsbo listings use that poo poo these days, but this is repped by a sotheby's affiliate, which is extra lol given the sotheby name's (former) cachet.

You can't use that software for listings in pittsburgh because it just turns all the images into blank white squares

The Oldest Man
Jul 28, 2003

Pittsburgh Fentanyl Cloud posted:

lol I just checked and my own neighborhood has a minimum lot size of 8000 square feet for new construction with almost all the properties on 3,000 square foot lots as built. sounds like a great fuckin' recipe for urban blight.

My house is on a lot that is exactly 1/2 the minimum lot size of the zone it's sitting in right now. Same with basically every other house on this block and adjacent blocks. It's loving asinine.

The Oldest Man
Jul 28, 2003

series of tubes

The Oldest Man
Jul 28, 2003

Fitzy Fitz posted:

My city just banned (slash, voted not to allow) accessory dwelling units because they were worried it would increase investor buyups of our housing stock. A real cut the nose to spite the face moment.

*developerishly* wow terrible

anyway ill just buy this 700k old sfh and replace it with a 1.5m sfh that's got twice the square footage on the same lot except now it looks like someone dropped a prefab lego house with the absolute minimum setbacks onto the block

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The Oldest Man
Jul 28, 2003

bawfuls posted:

What is their incentive to sell?

....

Your house would have to plummet in value more than 65% before you'd be underwater on it. Is such an event possible? Of course, but if it gets that dire, no one who's currently struggling to afford a home is going to be in better shape to buy than this hypothetical person who bought 10-15 years ago.

Just want to point out that even for people who bought recently, being underwater is not going to be an incentive to sell in this market. That just means you are going to get absolutely hosed and never be able to get back on the ladder (or it'll take many, many years) if you bail out. If you can afford the payment and the upkeep, the incentives right now are all to dig in like a tick and figure out a way to make it work come hell or high water and those incentives are even more the case for folks who have no equity to cash out.

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