Homes in Dallas/Fort Worth are selling for $300k over the asking price

[King Poetic]

My California people running down to Texas and boom price increases

I even had people who visited us here in California and tell me can u come get your California people out of Utah, cause our housing is increasing

 

[Tom Foolery]

20% tax for foreign buyers meant to dissuade them idk if its working

All that did was put more money in the Governments pockets.

The Chinese are trying to devalue the dollar and it's working. It's not the prices of stuff is going up. It's the dollar losing value. They want to own the U.S. when the economy collapses. Looks like they are going to succeed.

Nah, that’s not it. Foreign buyers treat American real estate like Swiss bank accounts.

America gave China all there jobs and manufacturing, so now they are killing the US in trade. One of the only way to get the cash back into America is through Real Estate because the China Real Estate market is a scam.

Keep your eyes open for Farmland sales too. It's something that goes completely unnoticed and is probably worse.

International Students enrolment at Universities is another hustle too.

 

[Uitomy]

houses selling 300k over asking price because someone making under 75k got 1,200 dollars?

That's not the point what' he's saying is the inflation is out of control, and instead of just letting our economy crash out government is propping everything up. Think about it, they gave out stimulus checks but people are becoming poorer while the richer got waaaayyy richer, you dont find that suspicious at all? It's not the whole reason the economy is ruined tho, maybe like 10% of the problem, he could've worded that better, but you gonna see 8$ milk and 300k houses be worth 800k for no reason besides rich people hedging their money with real estate

 

[UberEatsDriver]

My California people running down to Texas and boom price increases

I even had people who visited us here in California and tell me can u come get your California people out of Utah, cause our housing is increasing

Tell those Utah folks to get better jobs. JP Morgan just moved a whole division out of NYC to Salt Lake City


Jk

 

[R=G]

Easy pass. TX is already Republican red so that's no good.

 

[Biblical Goon]

Inflation from Stimulus checks and Unemployment payments ruining the economy

Who knew

Lmao tf are you even talking about

 

[WesCrook]

We gonna have a whole bunch of people stuck in apartments for the foreseeable future

It's slim pickings out there definitely.

I'm certainly not going to pay significantly more for a home than what it's worth.

I'll wait it out....and keep stacking up.

There may be a huge bursting bubble when all of the inevitable foreclosures are finalized. But that will take at least a year.

 

[Carolina Slim]

I wanted to do a new build anyway but I spent about 9 months looking at existing homes and gave up, I’m too frugal to ever over pay for a property that’s hella old and not in good condition. At this point you can get a new build for what people are paying for old ass houses.

Yeah, we've been looking at houses since we sold our home a couple months ago. We went to see one in Durham that was listed around $265K, and even pulling up in the driveway we were both like then our realtor pulled up and we went inside. NOTHING about this house screamed "worth it". There was a little lizard running along the baseboards in one bedroom, and I followed it with my eyes to a sizable crack in the wall. Our realtor was like "I already know what ya'll think", and we was like "yeah, this ain't it". Then she told us there was already multiple offers on the house. I asked her, "Did they SEE this place?"

We're on the list for some new construction communities, so while our realtor continues to send us listings, we're already thinking that if we see something nice, it's already probably gonna go at 40-50k above listing off rip.

The house market will vary from state to state. House prices are relative to where you are and where you wanna be. For example, here in Raleigh, NC the market is going bananas for multiple reasons. 1. We are getting flooded with people from New York who sells a 1200 sft home for 700K, They can take profits and buy a 400k McMansion in NC. To them 400k is starter home prices in NY. This is one factor that's driving up prices. 2. Apple announced a new east coast campus in Raleigh with an average salary of 185k. Those 5000 new employees are driving up market prices.
Apple unveils $1B investment to build east coast hub in Research Triangle, create at least 3,000 jobs

Yeah we've been outbid on a couple houses in Zebulon where we made a generous offer but stayed within our budget. The winning bid on the last one went to an investor because the seller was concerned about the house not appraising at the listing price, and we had indicated that we would need to have a discussion if that happened. Even the new communities that are coming up in this area have starting prices from 300-350K and up. So we're going to have to move further out; we're already on some new construction lists in Youngsville and Mebane and Sanford.

 

[Orange cream shake]

Yeah, we've been looking at houses since we sold our home a couple months ago. We went to see one in Durham that was listed around $265K, and even pulling up in the driveway we were both like then our realtor pulled up and we went inside. NOTHING about this house screamed "worth it". There was a little lizard running along the baseboards in one bedroom, and I followed it with my eyes to a sizable crack in the wall. Our realtor was like "I already know what ya'll think", and we was like "yeah, this ain't it". Then she told us there was already multiple offers on the house. I asked her, "Did they SEE this place?"

We're on the list for some new construction communities, so while our realtor continues to send us listings, we're already thinking that if we see something nice, it's already probably gonna go at 40-50k above listing off rip.



Yeah we've been outbid on a couple houses in Zebulon where we made a generous offer but stayed within our budget. The winning bid on the last one went to an investor because the seller was concerned about the house not appraising at the listing price, and we had indicated that we would need to have a discussion if that happened. Even the new communities that are coming up in this area have starting prices from 300-350K and up. So we're going to have to move further out; we're already on some new construction lists in Youngsville and Mebane and Sanford.

I live in the Midwest. And there are still some communities that base prices are 250k-300k but you have to double your deposit and those communities sell out fast. The community I have a contract with for a 4bdrm your in the low 300k for base price. Moving further out was not an option for us because we would be in trump country. Cheaper ain’t always better at least not where I’m at.

 

[Eternal Tecate]

Wait, ya'll are serious ???


The "$1,200 from one person" was a combined $1.5 TRILLION DOLLARS that was literally the government printing money out of thin air
Instead of the government creating jobs, they instead inflated the US Dollar with more deficits

Inflation + Unemployed that they caused = Inflated Housing prices

Media changed the narrative that Stimulus money is more important that Job Creation, and this is the end result

So you think hundreds of people are pooling their stimulus money and going in on a single house together?

Stop listening to right wing babble

 

[Eternal Tecate]

It's like I'm talking to a 5 yr old about Basic Economics. "Pooling their stimulus money"

Where is the Stimulus Money coming from? The Federal Reserve is printing money out of thin air causing Inflation. Inflation ruins the purchasing power of the consumer, and raises prices of everything we consume or buy, thus having higher housing prices

That shyt applies to groceries, not these insane housing over pays.

 

[Eternal Tecate]

Also the dollar was devaluing long before the corona stimulus started

 

[Spence]

Homes in Houston are going for 30k-50k over asking price and barely stays on the market a week. If you have significant equity in your home and know you are going to sell the house the time to do it is now.

I think we are going to rent it out, there’s just too much upside in renting it. A 10 year return in a city that has a very high trajectory with incoming residents is too tempting to pass up

 

[Numpsay]

I think we are going to rent it out, there’s just too much upside in renting it. A 10 year return in a city that has a very high trajectory with incoming residents is too tempting to pass up

I don't disagree with this.

 

[General Mills]

There was a time last year when house prices where super low. Two of my neighbors in Florida at a apt I was staying in moved into houses.
I was going to too. Saw a incredible deal but decided to move back to Pa to help my parents. Figured I would get here. Get settled. Then look to buy at the end of 2021.

The bubbles has burst. House prices are through the roof. I will just stay still until they calm down

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