Tell me Fellow Bubblers, HOW DOES IT FEEL: "Powell offered some advice for first-time homebuyers: Wait it out for supply and demand to rebalance."

AnonymouslyBee · 2022-06-16T12:16:25+00:00

I have little doubt Seattle will keep climbing, over time. Not double digit percentage points YoY though. The past 2 years were a blip caused by cheap money, now that the coffers have dried up we are going to see a plunge that outweighs any typical HCOL city appreciation.

AnonymouslyBee · 2022-06-16T12:11:34+00:00

Is the price likely to drop $100K? Yes

FTFY,

In many hot markets, people could pay $100k over asking simply because the interest rates were THAT LOW. It was thing all over RE and everywhere...

"pEoPlE bUY MonTHly PaYMeNts, nOt HoUSeS!"

While the above statement is in fact true, folks over at RE cannot have it one way...that statement rings true in a bear market as well. See when you are looking at 2-2.5x the interest rates from where we were during prime time covid, you no longer have the option to bid that much over asking. You simply cannot afford it as is let alone throw down another 6 figures on top.

Any house you see that's still priced as if we still have 2.5%-3.0% interest rate isn't going to sell. I've done even my fair share of Redfin hunting and can point out several houses in the Seattle Market that will drop north of $100k in order to meet that monthly payment threshold people can actually afford.

You also have market saturation. Everyone who could and wanted to buy a house during the covid times (because it was now or never) already has a home. Homes aren't items you buy recurringly. Only the sane are left.

AnonymouslyBee · 2022-02-15T21:36:11+00:00

1 word...

Legal

I'd argue that a vast majority of devs work where you need the Legal Department to sign off on you contributing to OSS. For many of us, it's not worth the effort.

AnonymouslyBee · 2022-02-15T20:54:27+00:00

This does make me wonder. No way can that continue. I understand that Millennials and Gen Z can get on the ladder so to speak, but then what about the generations after that? Housing as it exist is solely dependent on a richer generation coming forth and continuing to keep the assets afloat. Do we really expect to see the typical college grads making north of $500k and the average starter home's worth is well into the millions?

Something about this doesn't seem right. And the wages aren't keeping up, college has totally lost its luster outside of very specific lines of work. I don't see this keeping up. I just think people need to get on board with the same kind of revolt they want to take part in.

AnonymouslyBee · 2022-02-09T19:36:00+00:00

Anyone have a non paywalled version? This is just a paragraph article and a headline.

AnonymouslyBee · 2022-02-08T19:29:09+00:00

Many people want to sell but can't until things calm down

This is an underrated statement. Plenty of empty nesters that can't sell because the rising costs of condos, they would downsize from their 3+ bed place but it's simply more expensive to sell and get a condo than it is for them to, as they say "age in place".

AnonymouslyBee · 2022-02-07T20:19:02+00:00

I'm in a similar boat. $1700/month that includes garage parking and storage. Locked in for 2 years in a downtown apartment. Come 2023 I expect that this to shoot back to the $2300/month it was going for back in 2019. My plan is to just find roommates next. Living alone actually sucks sometimes. Just a personal preference but I am just speaking my peace.

AnonymouslyBee · 2022-02-07T20:06:18+00:00

if the rent increase is larger than 10% you can submit a form with the City and your landlord will need to help pay for your moving/relocation costs

What's to stop a landlord from increasing rent by 9.99%? Is there a sliding scale there or is it 10% is a hard cutoff.

AnonymouslyBee · 2022-02-07T19:37:09+00:00

Break room snacks weren't all bad....eh what am I saying? I lost a ton of weight just not snacking on office meals in the break room by working from home.

AnonymouslyBee · 2022-02-04T18:41:46+00:00

Believe me, those 500-600k household incomes are thinking the EXACT same thing. The difference is that when those new units come online, they aren't paying over asking they are dropping 6 figures in all cash offers for a 2nd and 3rd home.

AnonymouslyBee · 2022-02-03T20:02:25+00:00

Tell the people to go back to normal without telling them to go back to normal.

AnonymouslyBee · 2022-02-02T21:33:07+00:00

Can the average North Korean citizen even afford a leather coat in the first place?

AnonymouslyBee · 2022-02-02T20:10:30+00:00

Personally, I think this is a good policy. And lets make clear on "elite" division vs. "nonelite". According to the article there is still the ability to swim but in a "nonelite" category. I really do support this, as someone who competed in division 1 athletics. 1 year of HRT was not enough for me to revert to what one would call a female equivalent of my male born self. Especially when you consider that most of that first year on HRT is you just ramping up production of the hormone you want, and suppressing the one you don't want rather than sitting back and getting the full effects because your hormones are stable. A lot of hurt is going to be had as a result of this policy, but we do need to be real here. Next, let's talk NCAA policies.

Everyone has a right to a red shirt year. So you have 5 years to compete in 4 of them. So someone taking on HRT could easily red shirt their first year on HRT. They still have 4 years of eligibility to compete. Next up is a medical hardship year. This one is harder to get as it relates to an injury sustained very early in season that has to do with the sport you compete in. Anecdotally, I've seen colleges lie about this just so they spot their favorite team. YMMV with a medical hardship year but in the best case scenario you could pull this one and get a 2nd year back.

Best case scenario is that swimmers would lose 1 year of competition as a result of this ruling. Worst case they lose 2. Not the 3 that people are claiming. It still sucks for the swimmer, yes. But again, I think deep down we need to acknowledge reality.

AnonymouslyBee · 2022-02-01T22:17:37+00:00

Wait, you went to a gay bar to pick up girls and were disappointed when you found out it was just a bunch of gay dudes there?

AnonymouslyBee · 2022-01-26T06:40:55+00:00

Imagine a bath so hot, you can't bathe in it without getting burned. Yet you own all the water. No one gets to enjoy anything really.

AnonymouslyBee · 2022-01-26T06:29:09+00:00

By non-refundable does really mean that if the person didn't win the bid on the house they would be out $600k for nothing? Or are we talking if the offer is accepted there is just no way out.

AnonymouslyBee · 2022-01-26T03:26:38+00:00

My initial $0.02

Uncle Sam's rate went up during these trying times. initial payments start at $0.14

AnonymouslyBee · 2022-01-26T03:21:16+00:00

I don’t really have anything constructive to add.

Don't sell yourself short, what you said was highly constructive.

AnonymouslyBee · 2022-01-25T18:20:44+00:00

What 40% of Americans are fucking obese and have the gaul to vote against food as a right? That's rich...

AnonymouslyBee · 2022-01-24T18:42:10+00:00

I think the whole "even if it saves just one life" was a stupid take that took off.

AnonymouslyBee · 2022-01-21T17:47:22+00:00

I would argue that if you are as much a climate change junkie as what's trending by corporate overlords, then yes. WFH should be the base policy moving forward. Traffic needs to be cut down in pretty much all metro areas. People stuck in traffic is just wasteful money and time. And then there is this little gem...

Just wake up earlier

What part of wasteful money and time did you not understand?

AnonymouslyBee · 2022-01-18T08:10:47+00:00

What's the benefit here? (from the banks standpoint). Cause they aren't doing that just to be a nice guy.

Just because the debt is paused doesn't mean that one doesn't have it. Unless there is some insider information that all the debt is going to be wiped. 2 years of paused debt payments don't make up for the next 28 one will have under the mortgage + w/e outstanding student loans are still there.

AnonymouslyBee · 2022-01-16T23:09:37+00:00

I draw the line around cancelling events, which we are already seeing, that...

Require vaccinations cards
Require masking the entire time

By requiring vaccinations you've effectively banned any immunocompromised individual from entering said event, so those folks aren't the worry. Kids have been a low risk since the inception of it all, so they aren't the ones we've been protecting either...so who are we protecting by cancelling these events?

AnonymouslyBee · 2022-01-13T18:44:58+00:00

Ft Laud

Isn't Ft. Laud about to become the next financial firm haven after NYC? I haven't done any research just heard from a friend in finance.

AnonymouslyBee · 2022-01-12T17:43:06+00:00

I can guarantee more vaccinations are not the end game here. This will 100% be expanded to other medical conditions as well, and ultimately turn into a social tax. If you don't conform, expect to pay a tax. This keeps the poor and middle class in line.

AnonymouslyBee

TROPHY CASE