Is there a housing bubble?

[FaTaL]

Bought my house in 2012 for 380K. Putting it on the market in a little over a week for 889K and expecting to get at least 15% over asking.

Congrats

 

[Lucky_Lefty]

It is but hopefully it bursts within the next year cause I'm putting this VA loan to good use AND since I got a percentage, no property tax.

 

[beejus]

Congrats bro

Thanks. Only problem is now I need to find a house with a 4th bedroom preferably in the same area as we've outgrown my current house. Prices for 4 bedrooms are . If it was up to me we'd take that money and relocate to a state that is much cheaper and put away some of that money.

 

[rightfultoefinger]

I’m explaining basic economics to you. The time to buy a house was March to May 2020 when people thought the world was ending. You could’ve got it for crackhead prices. You just said people are offering cash. That means people are getting crazy, fighting for houses and bidding the price up. That’s the opposite of what you want. The bubble is not going to pop yet but, by no means are you buying at the bottom.

Here’s an article because I’m not going back and forth.

The Housing Market Is Crazier Than It’s Been Since 2006

Where did house prices drop during that time frame. Definitely not in San Diego. What part didn’t I spell out correctly that house prices shot up almost 50%. Every single house was getting over list.

 

[rightfultoefinger]

Bought my house in 2012 for 380K. Putting it on the market in a little over a week for 889K and expecting to get at least 15% over asking.

Congrats. Bought at the bottom in 11 my place for 650k now over 1.5 million if I sell but I’m not. Looking for an investment property.

 

[Ozymandeas]

trying to buy a second home getting out bid by 50k over the asking price and most of the time it's by investment companies, not even legit buyers

Blackstone, Goldman, Invitation Homes, American Homes 4 Rent and OpenDoor buying them sh*ts like

 

[Ozymandeas]

Where did house prices drop during that time frame. Definitely not in San Diego. What part didn’t I spell out correctly that house prices shot up almost 50%. Every single house was getting over list.

You drawing. Home prices dropped in March 2020. The entire market dropped, stock market included.

https://www.google.com/amp/s/www.cnbc.com/amp/2020/04/23/us-new-home-sales-march-2020.html

 

[the bossman]

I would say if you buying a used home buy that hoe in the fall. Prices too high now. Spring and summer are the worst times as a buyer. Better to sell in the spring and summer and summer and buy in the fall.

Prices have been high since covid started last year. Well into the fall and with the rates not budging anytime soon will also have high prices into next fall. What we're witnessing is unprecedented

 

[Ozymandeas]

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.

Yep...to all of this.

 

[Ozymandeas]

Bought my house in 2012 for 380K. Putting it on the market in a little over a week for 889K and expecting to get at least 15% over asking.

Get your money bruh, that’s how these cacs been doing it

 

[Rekkapryde]

trying to buy a second home getting out bid by 50k over the asking price and most of the time it's by investment companies, not even legit buyers

we just put in some changes to move our neighborhood from an HOA to a POA and amend the rules to limit investment companies from buying in the neighborhood. No more than 15% of the houses can be rented now. Almost 25% of the homes are owned by investment companies in my neighborhood now!

 

[rightfultoefinger]

You drawing. Home prices dropped in March 2020. The entire market dropped, stock market included.

https://www.google.com/amp/s/www.cnbc.com/amp/2020/04/23/us-new-home-sales-march-2020.html

Your article only talks about home sales nothing to do with prices. Anyone who lives in San Diego can definitely tell you that prices did not go down at all. I don’t need no article to tell me otherwise when I see for myself since I’m actually in the market for a rental.

 

[Ozymandeas]

Your article only talks about home sales nothing to do with prices. Anyone who lives in San Diego can definitely tell you that prices did not go down at all. I don’t need no article to tell me otherwise when I see for myself since I’m actually in the market for a rental.

San Diego is one city bruh. I live in Philly. What happens here doesn’t mean anything for the entire country either. We’re talking overall.

 

[Doobie Doo]

Must be Texas, Vegas or az?

raleigh

 

[desjardins]

HODOR
I ain't selling shyt , every time i check zillow estimates for my shyt it's another 25-30K increase
They building million dollar cribs a couple blocks one way and 600-800K cribs a couple blocks the other way. I'm HODOR even if i move out of state