Is there a housing bubble?

[Mr Hate Coffee]

Lol. I meant the general area. I was getting at the fact that your next house is likely inflated in price as well. But you already talked about it in a later post

 

[HabitualChiller]

Pretty much standard for any major city on the west coast. Saw a house that my wife and I wanted to put an offer on but last minute we didn't. House went 300K over asking and the people who bought the house bought unseen from another state.

That's some wild shyt right there

 

[Meowth tote da Uzi]

Prices get too high gotta start shooting the block up. Get some blanks and ride around.

 

[Captain Crunch]

In NYC it's ridiculous, I can put down 15-20% on multi families, but it's not worth it as damn near all of them I can afford are garbage homes.

I think Imma just say f it, and try to get some rental properties elsewhere

 

[djthegreat88]

My sister bought a house in Missouri City, TX which is suburb near Houston about a year and a half ago. An exact identical of her home down the street sold for $40,000 more than what she bought hers for . Its a nice but basic home

I’m out of housing market for a while. Prices went full retarded. First time homebuyers getting shytted on by these investors and folks with money buying second and third homes

 

[Oldschooler]

No there isn't a housing bubble in most of the country. It's just inflation from the COVID stimulus. You see it everywhere especially at the grocery store. People want to protect their money against inflation that's why you see them put it on real estate. The west coast housing is fueled by foreign Chinese investors which is a whole other topic in itself. My advice is if you are looking for a place to live in and you found one that you are happy with and can see living in it for years, then you should not try timing the market.

 

[itsyoung!!]

Unless you got a family and its a house you plan on living in forever, youd have to be a damn fool to buy in this market. Unless you got real money to flip houses.

your money is better invested else where.

60-100k down payment/remodeling for a house, or 60-100k in an index fund, easiest choice in the world.

 

[Wild self]

New York is in a weird position, in my opinion, because of its high cost and people generally not wanting to pay that rate anymore. It's been even more exacerbated with people dipping during quarantine due to the prices not reflecting the city being shut down. I'm not sure how some of the smaller upcoming areas (Charlotte, Jacksonville, Nashville, etc) are doing with occupancy.

All thr wealthy people moved out of the 5 boroughs, and even gentrifiers of the Midwest are going back home since entertainment like Broadway and concerts are shut down.

 

[Wink Beaufield]

Wood prices are insane right now damn near worth it's weight in gold

I learned this the hard way when I was looking into having a rooftop deck built.

 

[BunchePark]

Client yesterday needed 31k for a bubble payment on his mortgage

He is fukked

fukking idiot

Bet that nikka aint averaged 30k in his account for 30 straight days EVER in life

 

[kevm3]

In dfw, housing prices have exploded. A house that was around $380,000 is now over $600,000 in TWO years.

I don't understand how people can afford this, especially since Texas makes up a lack of state income tax with high property taxes. Where are people getting all of this money from to pay $600,000 for a house? I know there aren't that many people making six figures like that.

 

[BlackBall]

I’m selling my house this spring and getting a condo

 

[mson]

It’s getting out of control in broward. Damn near gentrified my whole neighborhood in three years

What was the demographic change?

 

[You Win Perfect]

Not necessarily. Historic low interest rates and inventory shortage means demand is high and supply is low.

This is true. It’s just the pandemic is the reason why the market is the way it is. Hopefully those people that sold for profit will be able to get back in without the inflated prices or at minimal loss of the profit they did make.

 

[™BlackPearl The Empress™]

Two issues. Millions of home owners are in forbearance, there are less homes available, interest rates are at an all time low and banks are setting up payment plans.

So it is a perfect storm. Also the stock market isn't hot and interest rates are low. So investment companies are pulling money of of the market taking loans at cheap interest rates and just buying properties because the returns are better.

But this hoe is a bubble. I expect these prices to crash in 4 to 5 years.

My goal is just to keep staking cash for when the housing down turn happens. I want to get me about 2 or 3 foreclosures.

I have the same plan