Mortgage rates back to 7%

[Pedro Negro]

Better off buying a crib IMO. I’m out here but leaving shortly. If I was here for another 3+ years I’d buy a crib asap

I’m leaning more towards buying, because I really hate the idea of paying someone else’s mortgage.

I know properties are few and far between in the areas I’m looking (North Park, University Heights, Mission Hills, surrounding areas, etc.) which is partially why I was considering renting. I’ll be out there in August, October and November doing viewings and trying to get the ball rolling.

What part of SD you in breh?

 

[Remote]

It’s a 3 bedroom house. We’re both pretty indifferent about children so that’s up in the air. I will say that I do kinda regret not going for a larger property back in 2021. I was trying to do the responsible thing and live below my means with the thought that I could upsize in a few years once I was more established in the career that I initially moved here for.

Nah you did the right thing.

You can't predict the future too much. If you're living comfortably within your means then you're winning.

 

[1thouwow]

I’m leaning more towards buying, because I really hate the idea of paying someone else’s mortgage.

I know properties are few and far between in the areas I’m looking (North Park, University Heights, Mission Hills, surrounding areas, etc.) which is partially why I was considering renting. I’ll be out there in August, October and November doing viewings and trying to get the ball rolling.

What part of SD you in breh?

Chula Vista my guy

 

[richaveli83]

I remember my first apartment was a one bedroom and had a den/office was like $600 a month. That was nearly twenty years ago.

 

[Htrb-nvr-blk-&-ug-as-evr]

theres a flipside. my bank is paying me 4.8 percent interest right now

What bank? My Marcus account has 4.17% at the moment…4.8% is kinda crazy

 

[Remote]

My apartment in Ohio is 800 lol

I'm just gonna stack my money and do nothing

You need to invest in a Ring camera to protect yourself from all those junkies sleeping around in your State.



Rumor has it those aren't Ohio residents, but sick folks from Michigan. But frankly I could not confirm the information since the source was @smitty22 and he's mildly biased.

 

[Mastamimd]

You need to invest in a Ring camera to protect yourself from all those junkies sleeping around in your State.



Rumor has it those aren't Ohio residents, but sick folks from Michigan. But frankly I could not confirm the information since the source was @smitty22 and he's mildly biased.

Real talk I live in a very low crime area, it's unfortunate that's it's unbelievably white but literally nothing happens here at all. I just got lucky...all the crazy folk are in Lima

 

[Gloxina]

Housing is insanity.

We went through NACA we we first relocated to GA and got a 0.375% interest rate.

7% is insane man.

We paid 161,200.00 for this house in 2016. These difference in the mortgage with today's rate and the interest rate we have is HUNDREDS of dollars.

I'll never sell this house

Omg congratulations!


How freaking long was the NACA process? I heard it took forever so I didn’t even bother trying.

That is AMAZING

 

[Sunalmighty]

Omg congratulations!


How freaking long was the NACA process? I heard it took forever so I didn’t even bother trying.

That is AMAZING

Our experience was different because we sold property in California and had zero debt, a clean credit report and cash to buy down the points.

Ours was from September 2016 to January 2017 because we looked at several homes.

If your stuff is not in order your process will be a bit longer.

VERY long if you are not careful. You have to have yourself in order (paperwork, paychecks, 401k statements, STOP using credit cards and clean up your credit report if necessary)

Some folks have taken over a year.

Good program but if you're not organized that thing is a BEAST to get through

 

[Rekkapryde]

Doesn't help that these corporations and hedge fund companies are allowed to buy single family homes either. That already jacked up the price of homes before the fed rate increases.

 

[beenz]

I’ll never forget paying $890 for my first apartment back in 2014


shyt gotta be like 1400-1500 rn

my first apartment as an adult was $590 and in a nice neighborhood to boot. this was 2001 tho

 

[Stuntone]

Homestead Exemption for me.

To fill up my tank cost more than my yearly property taxes.

Now that i'm disabled, might not be paying anything.

 

[beenz]

Up $1000 for the year or 1000 a month?

Is it common for property tax to be higher per month than your actual mortgage?

absolutely NOT.

 

[Remote]

absolutely NOT.

Yeah I didn't think so.

I have seen some HOA fees actually higher than the principal on a condo/townhouse -- at least when browsing in the past. And I thought even that shyt was preposterous.

 

[beenz]

Yeah I didn't think so.

I have seen some HOA fees actually higher than the principal on a condo/townhouse -- at least when browsing in the past. And I thought even that shyt was preposterous.

luckily for me, I don't live in a city where there are HOA's. that type of bullshyt is popular in most of the suburbs, and is nothing more than a cash grab IMO. john oliver did an episode about them not too long ago about how HOA's are bullshyt. especially for single family homes.