‘Brutal,’ ‘crazy’ housing market has Seattle-area homes selling half-million over asking price

[UberEatsDriver]

Just start killing the people supporting this mentality of greed. Noted.

What I said has nothing to do with greed?

 

[UpAndComing]

Begging =\= taking it by force.

No way ima rip off working class people to get rich.

Ah ok, so that's a no

 

[BaggerofTea]

No politicians have addressed this.

 

[Wild self]

Ah ok, so that's a no

It's constructive action. Not everyone gotta be a multi millionaire just to have a credible opinion. Get that European minded superficial wealth BS out your head.

 

[Swirv]

They have to raise interest rates. This is out of hand. They’ve kept rates near zero for decades but complain about the stock market and the real estate market being crazy. What do you expect?

Seattle has a crazy high demand and low inventory, higher interest rates won’t help them.

 

[MegaTronBomb!]

Occupy Wall Street was a joke. Can't protest your way to end your Oppression unless you down with real bloodshed

Once the "Occupy" was done, it was back to business as usual. LOL @ fighting the mega wealthy with begging

If we being honest, it Occupy Wall Street was literally a bunch of people who didn't have jobs to begin with... just squatting in public parks on some internet meet up shyt.

 

[RAX 010]

How can we take advantage of this market and make profits?

 

[Snoopy Loops]

I have premium insurance if it does, build a newer unit and charge triple the rent

Keep pimpin, playa

 

[Conan]

How can we take advantage of this market and make profits?

Buy index funds. The stock market has outpaced real estate for eons.

 

[Cobalt Sire]

No you have not. If you did, you'd know better than to make such a blanket statement.

If you rent a 3 bedroom home for 3500 today, what's the price going to be in 10 years? Probably more than double that. How much equity will you have? Zero. Or you can buy a home for 600k, maybe put 40k down, pay around 3500 with property taxes, homeowner's insurance, and PMI included, and build equity. Your monthly payments will be the same 10 years from now,. There are maintenance costs, but those are tax deductible, as well as the mortgage interest and insurance. Like I said, I did the math.

Renting has it's benefits as far as flexibility goes, but it is more expensive in the long run.

 

[UberEatsDriver]

If you rent a 3 bedroom home for 3500 today, what's the price going to be in 10 years? Probably more than double that. How much equity will you have? Zero. Or you can buy a home for 600k, maybe put 40k down, pay around 3500 with property taxes, homeowner's insurance, and PMI included, and build equity. Your monthly payments will be the same 10 years from now,. There are maintenance costs, but those are tax deductible, as well as the mortgage interest and insurance. Your home value will generally grow in pace with inflation, so even if you're spending 3 percent of your home's value on maintenance every year, the value increases by that same amount. It's a wash. Like I said, I did the math.

Renting has it's benefits as far as flexibility goes, but it is more expensive in the long run.

You are creating your own scenario breh. Stop it!

 

[Nikki_04]

I am not in Seattle, but am on the west coast. Bought a home 6 months ago and it has already appreciated $250k.

Crazy market.

 

[Cobalt Sire]

You are creating your own scenario breh. Stop it!

"Rent prices have increased an average 8.86% per year since 1980, consistently outpacing wage inflation by a significant margin."

Average Rent by Year [1940-2022]: Historical Rental Rates

 

[loyola llothta]

I'm likely leaving my job because my bonus wasn't big enough to keep up with the housing market and I'm trying to buy


And I'm not here to brag but it was a considerable bonus. Just not enough to make a dent toward a down payment.

That's how crazy shyt is out here.

Jesus

 

[UberEatsDriver]

"Rent prices have increased an average 8.86% per year since 1980, consistently outpacing wage inflation by a significant margin."

Average Rent by Year [1940-2022]: Historical Rental Rates

No no no I’m talking about the story you just made up. People like you always create a scenario where clearly the renter looks to be in a bad situation. That’s not a reality. Everyone situation is different. shyt I know a girl who thinks like you and her logic is so screwed up that she thinks owning a condo is not home ownership