Is there a housing bubble?

[Atlrocafella]

new build?

Yep. New build.

 

[Apollo Creed]

Yep. New build.

yeah, im at the point where when im ready for something new Im just gonna demo my crib and build new because my location is in a hot area. And anything else new in the area would run me way more

 

[Mike Nasty]

All those YouTube experts said the bubble would burst in February. You had a few that tried to explain this isn't like 2008.
All I know is hasn't been a house for sale in our neighborhood in a while. In 08 you'd pass 5 just on our street. I used to laugh at the zillow price of our house now I'm like

 

[OfTheCross]

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.

I hope so.

We went to an Open House in West Park and the shyt was $240k for 800sq ft that needed A lot of work.

South Florida market is wild rn

 

[OfTheCross]

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

that's the dumbest shyt I've ever heard, man. I ain't do no MAJOR upgrades to my home but you're telling me it's worth more than double what I paid for it?

How? Why? It's really silly.

 

[Tom Foolery]

Nope. People have been saying there's a bubble since 2000 and here we are.

It's the foreigners. They value land over other investments.

We only give our money in the banks because Jews told us too. Foreigners don't really follow the Jew agenda because they know how crooked government can be.......Which is why their money is coming over here buying land.

 

[Software]

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.

A lot of the people selling have more than one house. They are eating good

 

[Apollo Creed]

A lot of the people selling have more than one house. They are eating good

idk about A Lot in the context of the general pop, but if you mean many of the people in a small segment of humans who have multiple properties then sure.

 

[Chip Skylark]

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.

that’s what we’ve been thinking about. Thing is one of the houses we have is in another state than where we are living in so we’re be okay as far as our living arrangements go

 

[Apollo Creed]

that’s what we’ve been thinking about. Thing is one of the houses we have is in another state than where we are living in so we’re be okay as far as our living arrangements go

thats wassup. I bought my house low and due to gentrification my joint is worth 3x the price now. So even if the market tanks id still be on top. Because of this i feel my better option is to demo and build new because id would still he cheaper than buying a new cookie cutter crib thats cheaply made and going for 600k+.

being single my views have shifted to buying property overseas where that 1-300k goes way further and can be used as income streams (i work remote) when im not there. I’d demo and rebuild my current crib probably if i get married and have kids in this country

 

[Russell Resthaven]

I got a short sale...either that bank owned/foreclosure. I recommend that route.

Got in at 215. It was already worth 250 at the time. That was 8 years ago.

Neighbor's just sold theirs for 379 recently.

It needed some work, but I didn't care. I knew it'd be better in the long run.

Location is the most important thing.

I heard we're expecting a crash soon, so try to hold off on buying for a few months

 

[JT-Money]

Waiting on the crash.

 

[CrimsonTider]

No

 

[Dreamchaser]

I think we are in a bubble in some markets, I have also heard that a lot of the baby boomers kids are starting to becoming homeowners and housing starts haven't picked up to demand. You also have to consider interest rates are at a all time low, which means people can afford more expensive homes.

 

[BeeCityRoller]

I've been in the House Hunt since January. My thoughts, no. Here's why:

• The Covid Recession was a K-Shaped recovery. Alot of people fell off in 2020 but people came up through investing in stocks, working OT, and saving money because they were working from home. Besides Foreign/Domestic investors, cash buyers, there is a surplus of qualified buyers using conventional loans, 770+ Credit Scores, putting 20%+ down, offering appraisal gaps, waiving inspection (which I would never do).

• Even these people are losing multiple-offer bids. Not on 1 house, maybe 5, 10 or more depending on the city before they finally get an offer accepted. So these are not the typical people who will go into foreclosure like 2008-2009. People with FHA loans, 3-5% down are barely getting their offers looked at unless its a condo/townhome.

• Foreclosure moratorium is going until 2022. Between Summer 2021 and then there will be plans in place to allow those people to refinance to a 40-Year mortgage with no penalties
  
• New construction is flabby and sick right now. Most communities are only releasing a few lots at a time, waiting list is packed, and lumber shortage has driven prices up. There is no incentive for builders to speed up since they are making record profits with this shortage. It's going to be very hard to get a new construction Single Family home under 300k within a major city going forward

There are more but those are the top reasons, I need to get back to work