Property Market is going WILD

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CFPB proposals. Government isn't going to let homeowners fail. Prices will keep skyrocketing

CFPB Proposes Mortgage Servicing Changes to Prevent Wave of COVID-19 Foreclosures | Consumer Financial Protection Bureau
Of course not. Everyone has learnt from 2008. Even if they crash and foreclose on people, they won’t flood the markets with them. House prices will keep rising forever and you can’t tell me otherwise. I live in a beach town in San Diego and there’s only so much land available to build on and everyone wants to live by the beach. Don’t give me climate change to because all the houses are on top of a cliff so they won’t get flooded by rising seawater.
 

FAH1223

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My fam is currently renting a 5 bedroom house here in PG County, MD

Our landlord has sort of indicated the last couple years he wants to sell and my mom has always told him we want the place.

So with the craziness right now, he hit us up saying he’d like to sell this year and obviously wants to give us priority.

My pops is a real estate expert and knows all the tricks of getting costs down for the buyer and also make the seller feel good (no agents, using rent as another down payment took, etc). So we’re gonna try and stay here since we won’t gotta compete with the mob of folk buying.

Insha’Allah we can get it done this summer or fall :whew: me and my brother would probably jointly be the ones buying so we’d get that first time buyer help
 

Payday23

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My fam is currently renting a 5 bedroom house here in PG County, MD

Our landlord has sort of indicated the last couple years he wants to sell and my mom has always told him we want the place.

So with the craziness right now, he hit us up saying he’d like to sell this year and obviously wants to give us priority.

My pops is a real estate expert and knows all the tricks of getting costs down for the buyer and also make the seller feel good (no agents, using rent as another down payment took, etc). So we’re gonna try and stay here since we won’t gotta compete with the mob of folk buying.

Insha’Allah we can get it done this summer or fall :whew: me and my brother would probably jointly be the ones buying so we’d get that first time buyer help
:wow::ohlawd::salute:

Good luck
 

FAH1223

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:wow::ohlawd::salute:

Good luck
Thanks breh. My pops just came back from Somalia. Our landlord is Ethiopian so he gets us obviously. Been a good relationship.

I don’t think he’s in a rush but this may be one of our only shots to own a crib in near term with these insane competitive buyers
 

King Sun

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Man I got so lucky when I bought my house last year. It seemed like everything was getting scooped up each day because everything was already in contingency.
 

GoldenGlove

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Market is so wild that we had to buy a new home before selling the old one.

I put my house on the market on a Thursday night, had 10+ showings and an offer by Sunday (AND my crib is in a flood zone) They offered 10k over the list price too.

:hubie:

The only reason we ended up with our new house is because we wrote up a heart felt letter same day we put in an offer. There were over 10 offers on the house and the letter swayed them in our favor
 

Geek Nasty

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Market is terrible in KC. Land prices are 50-150% over what I was seeing 2 years ago. Al the builders are booked, and even if you found one who had time to build your house, you might end up paying $75K more than you thought because building supplies are so expensive. I can't even say selling and renting would be smart because houses and land are being bought up by investment companies with CASH offers and they might be willing to sit on property for years.
 

Json

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Indiana is paying people to move there but also has a housing shortage....like how does that make sense unless houses are being bought but not lived in to goose the market?
 

Skooby

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So people are mostly staying close to where they left.




Most people are all talk. I don't have a percentage but I'm guessing most Americans don't leave far from their home state, if they leave at all.

I have moved twice to different states on my own dime. And if I get to work from home permanently, which isn't likely unfortunately, I'm going to be moving again from this high cost of living area that I live in right now (DC area).
 

hashmander

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Most people are all talk. I don't have a percentage but I'm guessing most Americans don't leave far from their home state, if they leave at all.

I have moved twice to different states on my own dime. And if I get to work from home permanently, which isn't likely unfortunately, I'm going to be moving again from this high cost of living area that I live in right now (DC area).
long before covid i was working from home and traveling out of town for assignments and that was my calculation for why i picked orlando. i wanted warm weather, major airport, low cost of living, near family members in south and central florida (although parents are in in connecticut), a quick flight to the caribbean, etc.
 
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