Is there a housing bubble?

[fishfry600]

I was looking to purchase a home but these prices had me like and it's not even the good neighborhoods. Broward county was never this expensive like Miami. A house in Lauderhill and pompano are like 300 ks.

 

[Conan]

Yeah.

 

[Rekkapryde]

Price of the stucco goin up...

 

[Chip Skylark]

It’s a sellers market right now. Two friends of ours recently sold their homes and made an easy 125k

we’ve been thinking about selling one of ours

 

[Doobie Doo]

My girl wants to sell her townhome. She got it in 2010 for around $110K and now it's worth around 225K.

 

[NatiboyB]

I know people always preach buying your own home. I’ve been looking myself for property. And I literally saw a home in what is the damn hood in Cincinnati well one of them (Evanston) go from 179K to 300K...With nothing done or upgraded.

depending on your area I would not purchase right now. Eventually something will occur to drive the prices back down if you can be patient.

but my quad plex in Killeen has been booming. 100-% capacity and I’m able to charge an additional $100 per unit. And the property management only went up 10%.

 

[Goat poster]

I’m starting to think no.

I used to think it would burst in cities like San Fran, NYC, LA, Vancouver, Toronto, London, Hong Kong, ect ect (New Zealand and Australia have some of the highest prices as well)

But after we had a whole pandemic with a economic fallout and the prices of homes were STILL on the rise it let me know what’s up.

Property is the biggest currency for the rich. They are NEVER gonna let it drop as it’s the bestWAY for them to park their cash and let it grow and get tax breaks/rebates.

The rich Chinese have made the blueprint and are buying up properties worldwide.

 

[Chip Skylark]

I’m starting to think no.

I used to think it would burst in cities like San Fran, NYC, LA, Vancouver, Toronto, London, Hong Kong, ect ect (New Zealand and Australia have some of the highest prices as well)

But after we had a whole pandemic with a economic fallout and the prices of homes were STILL on the rise it let me know what’s up.

Property is the biggest currency for the rich. They are NEVER gonna let it drop as it’s the bestWAY for them to park their cash and let it grow and get tax breaks/rebates.

The rich Chinese have made the blueprint and are buying up properties worldwide.

Do we have a housing/land thread about the ins and outs of buying, selling, or renting

 

[Primetime]

I been waitin since last summer to take advantage of a COVID-induced housing crash.

However the govt has done a few things from what i understand:

• allowing people to live rent free
  
• will (soon) allow refinancing to lower mortgage rates (can refinance to 40 years).
  
• will give a $15,000 first time home buyer check for people

This equates to less foreclosures and less people needing to sell their houses... while at the same time the price of buying a home goes up $15,000 (all the new first time buyers with free money) in addition to a shorter supply of homes available (bc of less foreclosures/less need for ppl to sell their houses).

In other words, (low) supply and (high) demand.

 

[Atlrocafella]

Trying to buy a house now and I’m on the wait list for a certain neighborhood.

 

[Apollo Creed]

It’s a sellers market right now. Two friends of ours recently sold their homes and made an easy 125k

we’ve been thinking about selling one of ours

Same, thing is once you sell you gotta deal with the housing and rental market lol.

if you have enough equity where you can ride the wave until the bubble burst (folks been saying it was gonna burst forever and even covid didnt bust it) without touching your profits from selling then cool.

 

[jerzboy]

I’m starting to think no.

I used to think it would burst in cities like San Fran, NYC, LA, Vancouver, Toronto, London, Hong Kong, ect ect (New Zealand and Australia have some of the highest prices as well)

But after we had a whole pandemic with a economic fallout and the prices of homes were STILL on the rise it let me know what’s up.

Property is the biggest currency for the rich. They are NEVER gonna let it drop as it’s the bestWAY for them to park their cash and let it grow and get tax breaks/rebates.

The rich Chinese have made the blueprint and are buying up properties worldwide.

pretty much my same thoughts. I really wish we would implement that same thing as that other country, I think Bali, that doesn’t allow non-citizens to purchase property. Coli accountants and foreign diplomats, explain to me why this wouldn’t work.

 

[Apollo Creed]

Trying to buy a house now and I’m on the wait list for a certain neighborhood.

new build?

 

[Mr swag]

Trying to buy a house now and I’m on the wait list for a certain neighborhood.

Waitlist

 

[SleezyBigSlim]

My house just increased in value 24k over the last year, combined with my 401k my net worth increasing about 50k this year