Not a Children posted:

It's me, I was the idiot who lived lean through my 20s and saved up a 20% down payment

I'd have come out far, far ahead if I'd just gone all-in on a 3% down payment 2 years out of school

indigi posted:

you still could by putting 5% down now and doing something else with the remainder

ate poo poo on live tv posted:

Good.

I'm not sure what the bigger contributor to housing inflation is, AirBNBs, or gigantic investment firms like Blackrock or Predatory Real Estate companies like Redfin.

Cpt_Obvious posted:

At this point I've gotten so many offers for my house I'm considering just countering with some insane number and seeing if they bite.

19 o'clock posted:

I’m seriously despondent over this poo poo. I *finally* scored a guillotine-qualifying (barely, not considering inflation over the past year) job and I’m able to afford rent .

I’m 38. I lived off of my house savings when the pandemic wrecked my career track. I’m not starting from zero but I didn’t even have quite 10% saved in 2020 before Covid kicked off. now I’m down to around 3% (against the low-end of the current market) saved, I missed the sweet low% lending that was available, and people/institutions are bidding over ask/waiving inspections to snag what’s available.

so the game plan is….save aggressively for ten years as real estate continues to appreciate, lock in a 30 year mortgage, and then I’ll be almost 80 when it’s paid off?

I have effectively zero retirement stashed away after starting my career in 2008 (pay cuts due to the financial crisis were fun fresh out of college). I got through college due to student loans (revamped in 2008 under Obama iirc, so mine were high% which also sucked). I paid those off by starting a business I ran on the weekends for the past decade while I climbed the ladder in my career track.

all that poo poo got wrecked and/or rendered irrelevant in 2020. it’s since been made worse by how money was tossed around during the pandemic. why even bother trying anymore.

which is it? save for retirement, save for a house, or (god-forbid) try meeting someone to start a family at my relatively advanced age. it feels absolutely hopeless.

Shageletic posted:

Crazy to think that the US government at one point was so concerned about low home ownership rates that they bought 4 out of 5 homes and then sold it for a loss to middle class (mostly white) families.

Versus them doing.....absolutely nothing today

Think it's time to give Blackrock another tax cut

Bar Ran Dun posted:

median US household is 67 K.

19 o'clock posted:

what’s the point of even working anymore. just…why?

i am harry posted:

actually not working gives you better healthcare in the United States of America it’s called Medicaid and works exactly like insurance except you don’t pay anything because you’re poor and the United States of America uses it’s ability to collectively bargain on behalf of all people on Medicaid to set the price for services and drugs

War and Pieces posted:

went to look at a $150k house that hade the basement window punched out and the furnace (and gas meter) stolen

synapse posted:

it looks very nice. i would love to host Thanksgiving dinner for all of my family and friends there.

General Dog posted:

I paid down about 60% down on my house when I bought a couple of years ago, but once the pandemic came along and interest rates dropped to nothing compared to the 4.5% I was paying, I decided to just go ahead and pay the rest of the thing off. I don’t know if that makes sense or not, but it feels nice not to owe anything on it.

Deadly Ham Sandwich posted:

When Americans buy a house, they usually go for the most expensive place they can afford with a 30 year mortgage. I think >90% of mortgages are for 30 year. Hell, even when renting or leasing people still go for the most expensive place they can afford.

bawfuls posted:

the story behind the picture is “Detroit” no?

i am harry posted:

they’re held over the seat by a small plastic ring that sits inside the fabric. when you piss and poo poo all over yourself and one, you can just take it off and pop it in a washing machine

i say swears online posted:

my internalized "more money = better than" has murdered my self esteem and I wallow in pity instead of improving things because it seems so daunting. I see my friends in do-nothing makework jobs and honestly tell myself I couldn't do it; I've never worked in an office or gotten a salary before and I'm 37 so it all seems so impossible because I graduated into the 2008 recession and nothing ever gets better

Ornery and Hornery posted:

there are only two classes, comrade

Ornery and Hornery posted:

I can only afford housing if I have a life partner because then we can split costs lol

Drunkboxer posted:

my parents home is only $71k on zillow. buncha old money ghouls itt

indigi posted:

yeah because number will go down and the rich will consolidate power even further

indigi posted:

mortgages should be indexed to inflation

Fozzy The Bear posted:

My old realtor sends me these generated emails about the housing market where I live:

anime was right posted:

the housing crisis of 08 led to mostly flat prices in high demand areas but crashes everywhere else. i imagine places like portland, bozeman, and austin will continue to stay elevated or maybe dip a little bit. phoenix will probably eat major poo poo again.

Grand Theft Autobot posted:

The thing I'm noticing is a huge uptick in listings, not necessarily rock bottom prices or anything. That could take awhile.

projecthalaxy posted:

I dont have any money

What are points

Cabbages and Kings posted:

A friend sent this

https://cdn.nar.realtor/sites/defau...-05-12-2022.pdf

I thought it was pretty interesting. Institutional buyers made up 13% of sales last year which is less than I would have expected. Also, my local state of Vermont has that number at a whopping 0%, meaning the people yelling about institutional buyers on local reddit are wrong and really the pincers loving us locally are bad supply combined with an influx of affluent individuals from CT/NYC/etc who can just come make cash offers at 150% market on whatever they want to buy as a COVID-escape-zone.

Granted, there's still not much here to feel good about except "things aren't that bad, yet". Tell that to unhomed people.

Ornery and Hornery posted:

housing is listed at constant or less than it was, but rates are so much higher that’s it’s basically just as expensive if not more so

Angrymantium posted:

Right now, settling for a condo is a good move. Condo inventories aren't as stressed as detached units and most sellers have to drop their price a few times before they get a bite.

Fozzy The Bear posted:

Fozzy The Bear posted:

See you when you're back at $10,000

H.P. Hovercraft posted:

last summer we replaced the a/c unit and all the ductwork, which was crappy out of date stuff and according to the guy in charge filled with decades of old people skin (house is from '75). he seemed legit disgusted by the idea of living with old ducts

actionjackson posted:

*moves to portugal*

*country hits 117 degrees, is on fire, no A/C*

Pittsburgh Fentanyl Cloud posted:

All of this is astroturfing just like the media blitz here last year of people moving to Texas from California to avoid "covid lockdowns", which were definitely real stories about real people and not advertising paid by Texas.

CRUSTY MINGE posted:

Neo-hippies are fleeing fascism to... Texas?