Property Market is going WILD

[dora_da_destroyer]

Surprised to see Canada won that. I’d assume France or the U.K. since real estate is by far the biggest wealth vehicle for those with money. I’d love more info in Italy as well, I’ve read that most people inherit the family home - they don’t buy - which can explain the low price growth, at the same time, I’m sure that leaves a much larger segment of society as permanent renters

 

[hashmander]

The population is too large as it is, best to relocate people to Idaho, The Dakota's, Kansas, and so on.

it's easy to say that's what needs to happen, but do you want to move to those places? with WFH and starlink there isn't much stopping anyone who wants to move to sparsely populated areas from doing so. i like living near downtown but with a nice size house and land, so i'll stay in my spot.

 

[Based Lord Zedd]

I'm buying now and will probably end up building because of this bs.
It's crazy out here in Houston.

 

[ill]

I'm buying now and will probably end up building because of this bs.
It's crazy out here in Houston.

Building is expensive AF right now with lumber prices 3x what they were last year. You might have to wait til people get back to work and stop doing home renovations for the demand to go down.

 

[Json]

Surprised to see Canada won that. I’d assume France or the U.K. since real estate is by far the biggest wealth vehicle for those with money. I’d love more info in Italy as well, I’ve read that most people inherit the family home - they don’t buy - which can explain the low price growth, at the same time, I’m sure that leaves a much larger segment of society as permanent renters

Italy has a program for foreigners to buy old homes in small towns to fix up but it has to stay in the style of the homes so it’s relatively expensive.

 

[Based Lord Zedd]

Building is expensive AF right now with lumber prices 3x what they were last year. You might have to wait til people get back to work and stop doing home renovations for the demand to go down.

I agree. Not in a position to wait though, so will either be that way or continue overbidding on these other houses.
Got really unlucky with timing smh, I don't think I'm gonna get a good deal at all.
You walk into a house down here that's been on the market for a couple days, it already has multiple offers above ask. I don't know if it's true but I've been told this is a record low for available homes to buy.

 

[Rekkapryde]

Let me know when this shyt busts.

 

[1thouwow]

hol up i just went thru the article. who are these many people with so much cash on hand to buy homes. shyt like that always blows my mind. guess i really aint about my money

Loans nikka

 

[dora_da_destroyer]

Loans nikka

what? breh is talking about the cash offers, and high cash down payments...not how people pay for homes in general (loan/mortgage). there's people running around paying 400k-1M cash for homes

 

[1thouwow]

what? breh is talking about the cash offers, and high cash down payments...not how people pay for homes in general (loan/mortgage). there's people running around paying 400k-1M cash for homes

 

[Professor Emeritus]

These not the homeowners that’s struggling. It’s the guy that depends on his rent money and ain’t nobody paying.

So if he's dependent on being parasitic off of someone else's work income, and that person doesn't have work and thus can't pay, what keeps said homeowner from just selling the home at a big profit right now?

 

[Professor Emeritus]

I agree. Not in a position to wait though, so will either be that way or continue overbidding on these other houses.
Got really unlucky with timing smh, I don't think I'm gonna get a good deal at all.
You walk into a house down here that's been on the market for a couple days, it already has multiple offers above ask. I don't know if it's true but I've been told this is a record low for available homes to buy.

Yeah, sometimes it is what it is. We were in a position where we had to sell just a couple weeks after the first collapse and ate a lot of losses. Thankfully we were in a position to survive it and we don't care much about what our accounts look like, but it did feel like a big waste of money that coulda been used for something better.

 

[Secure Da Bag]

So many bubbles are gonna burst. It's gonna be a wild ride.

 

[eastside313]

So if he's dependent on being parasitic off of someone else's work income, and that person doesn't have work and thus can't pay, what keeps said homeowner from just selling the home at a big profit right now?

That’s what you think owning investment properties is.



it ain’t always that easy. Hey my two family flats aren’t bringing in any income let me sell em for a huge profit. That sound good, but it ain’t always that easy.

 

[GnauzBookOfRhymes]

Not sure where you're at but the supply is crazy low right now in Baltimore and DC as most homeowners are opting to refinance.

But yeah I've heard from realtors that they're receiving an outrageous amount of offers to the point that buyers are paying way above appraisal. When supply goes back to normal I think the current wave of buyers will be in for a ride awakening

They will be fine. Trust me breh, this is purely an upper middle class/upper class market right now. These are people buying because of lifestyle choices, not because they see a home as the most consequential financial investment of their lives or because they found their "forever home."