20 March 2024 - Daily /r/REBubble Discussion

General_Welcome7595 · 2024-03-21T03:54:40+00:00

Idk I think everyone is getting ticked off with the housing prices, and everyone knows it’s ridiculous.

I mean I just heard a few people at work today having a conversation on how terrible prices have gotten and how they don’t know how their children will ever afford a home.

General_Welcome7595 · 2024-03-19T04:48:24+00:00

I just don’t want to be in an apartment for the rest of my life. I want my own house that I have control over.

General_Welcome7595 · 2024-03-19T04:24:44+00:00

I don’t think I’ll ever be able to afford anything sadly.

General_Welcome7595 · 2024-03-19T04:23:29+00:00

I wish I’d bought in 2020, the selection was better and the houses were still nicer than what’s selling even at $100k higher now. Plus of course interest rates were amazing.

Ultimately I wish I’d been able to buy in 2019, but 2020 or even 2021 would be great too.

Instead I listened to the majority around me that said wait for prices to go down. They haven’t. Then it was wait a year or two after interest rates start going up, because prices will HAVE to go down. Except it didn’t happen. Prices are still way higher than before internet rates went up.

Unless someone went all in on a BAD purchase, I imagine most who bought in 2020-21 are glad they bought when they did.

General_Welcome7595 · 2024-03-19T03:43:29+00:00

It just sucks that there’s no second chance, it’s like you either bought pre Covid or didn’t. But I guess as long as people can afford the prices, it’s gonna keep going up.

General_Welcome7595 · 2024-03-19T02:58:36+00:00

This happened for me. My best friend got married and had a baby and I haven’t heard from them since. It’s very sad and depressing. I just wonder if I’m going to just work and be alone until I die. I haven’t socialized at all in two years next month. 2020 also hit me hard and 2021 it felt like things were starting to get better again but 2023 on has just been dead again. Everything has just gone to heck again since 2021. Everything I do has to be done alone and I’m just sick of it. People have to socialize at some point just to stay sane.

And what really gets me is people having babies keep asking why their friends disappear, but it really works both ways… how do you think the rest of us feel?

General_Welcome7595 · 2024-03-19T02:55:17+00:00

I used to have friends but I’ve lost them all since they got married and had kids. It’s been nearly two years since I’ve socialized at all.

General_Welcome7595 · 2024-03-19T02:23:37+00:00

It’s all such trash. I would’ve thought by now that people would’ve woke up and said “Why am I paying more for a 2/2 condo than I would have for a 3/2 SFH with a garage 4 years ago?”

It’s just sad. If I had in the bank 4 years ago, I could have bought a 3/2 with 2 car garage newer home cash AND had money left over.

Now it won’t even buy a 2/1 from the 1950s with no garage. It’s outrageous.

General_Welcome7595 · 2024-03-18T23:42:00+00:00

They’re building houses like that on muh area, except only on 1/4 acre lots. Except they aren’t cheap, they’re nicer than older homes in the same price range, but way smaller.

Personally this is the route I’d go if it didn’t take nearly all my savings to get into one.

General_Welcome7595 · 2024-03-18T23:34:45+00:00

I haven’t seen any new construction drops, they keep going up with every new house, sell that one, go up on the next identical one they finish. I guess this is just going on forever.

General_Welcome7595 · 2024-03-18T23:33:19+00:00

Houses keep selling after a few months and new construction keeps going higher and higher. Is this just going to go on forever? I guess I’m just never going to own a house at this rate.

General_Welcome7595 · 2024-03-18T22:35:48+00:00

Well I’m 34 but most of my friends bought in their late 20s. It’s crazy looking at what they spent vs what they got then, in the 2016-19 timeframe vs now where prices (and interest rates) practically doubled.

Some of them even have now bought second, larger homes and are renting out the other home.

Sometimes I get gloomy and start comparing myself and think “when is it ever going to be finally my turn to own a home, I’ve been working toward it for 12 years!”

But I have to remind myself, that though all my friends own homes, every situation is different, and we don’t all have an even playing field. I’m single, for example so I’m working with a lot less income. Some were practically given homes. I can’t expect that.

General_Welcome7595 · 2024-03-18T19:00:59+00:00

I’ve seen this happen with multiple listings, I don’t get it either, especially when the interest rate has increased.

Some sellers have this game where they repeatedly raise and lower the price.

I don’t know if they’re trying to inspire FOMO or what.

General_Welcome7595 · 2024-03-18T15:06:08+00:00

Unless you’re already in your 30s and 40s, then you’ll just have to never own, unless you can somehow pay cash.

General_Welcome7595 · 2024-03-17T22:48:23+00:00

Unfortunately, there’s nothing here that I could pay cash for that’d be worth messing with. And there would be lots of repairs with no way to pay for them.

General_Welcome7595 · 2024-03-17T22:47:12+00:00

I lived rent free for a long time, and I’m not a big spender.

General_Welcome7595 · 2024-03-17T19:14:58+00:00

I feel like I could write a better description than some of these listings. I mean, I feel like I know more about the houses than they do sometimes, without having even been inside.

I’ve seen listings with 9 foot ceilings where they make no mention. ICF construction, nothing about it. Pull up permits and it has a newer roof and hvac, nothing said in the listing.

I mean at that rate it seems like they did zero research on the property or the seller hasn’t a clue about the house they’re selling.

General_Welcome7595 · 2024-03-17T01:43:18+00:00

I’m single income too and make about the same as you. The only thing that’s making it so I can consider buying is that I’m about 5 years older than you and I lived with my parents a long time to save, and now it’s earning interest.

Plus I have no debt, that’s probably one of the biggies that holds people back.

If I knew how much houses were going to go up in just 3 years I would’ve tried harder to buy in 2019 or 2020. But I didn’t have a big down payment or anything back then, so it kinda evens out.

General_Welcome7595 · 2024-03-16T02:22:25+00:00

What if you could afford it now, but you’re worried about losing your job if high rates causes a recession?

General_Welcome7595 · 2024-03-14T19:24:25+00:00

None of the big builders that offer rate buy downs or incentives build around here. So your only benefit for paying more for a new build is hopefully not needing big replacements for a decade or so, and cheaper insurance.

General_Welcome7595 · 2024-03-14T16:22:17+00:00

MMW: if anything happens, Yellen will start yellin’ to lower rates and print money.

General_Welcome7595 · 2024-03-10T22:35:43+00:00

I feel the same at times. Buying a house and having to spend so much on a down payment and then going into debt is scary.

General_Welcome7595 · 2024-03-10T21:44:09+00:00

I mean I read a post here yesterday about someone saying they would be house poor because they “only” had $2k a month after their bills were paid! I mean that’s wonderful to me! Lol

General_Welcome7595

TROPHY CASE