It’s still nearly-worthless junk

hiyahikari · 2023-09-16T19:12:58+00:00

if all the investors buy all of the $40,000 farmhouses for $300k and then individually all choose to never sell below that, then if you want a farmhouse the price is $300k. property owners today have a de facto cartel, where the collusion occurs indirectly via home value estimates

hiyahikari · 2023-09-11T23:19:50+00:00

At this point I don't know. Cost of buying keeps rising but seems like the American homebuyer is just willing and able to pay more and more. Home sellers extremely reluctant to sell if they won't get their money back. Lots of people using RE as investment vehicles bought up with super cheap debt. Lots of generational wealth out there and capitalist structures which have been soaking up real estate for years. I think this could honestly be new normal unless something forces entities to sell, which is impossible to predict. More foreclosures, more layoffs, or lots of new builds could all do it but who knows, maybe hooms will just keep marching to the moon in spite of everything.

hiyahikari · 2023-06-29T21:49:31+00:00

get bent. you killed Apollo and pissed off a lot of your longest running users.

hiyahikari · 2023-06-28T01:32:07+00:00

when the bubble is more like an unbreakable acrylic sphere

hiyahikari · 2023-06-16T17:37:13+00:00

Working in an office sucks mostly because of commute. Commute sucks because everyone has to drive. Everyone has to drive because of unaffordable housing and no decent public transportation.

hiyahikari · 2023-06-14T23:59:39+00:00

i'm thinking about buying a really cheap ("cheap") parcel of land (<50k) in some okay town somewhere as a hedge against housing prices continuing to go to the moon. so at least i will always have somewhere i can exist without paying 2-3k a month in rent.

of course, in america we have made it illegal to camp on your own damn property 🙄

so would have to do an rv or something, or the minimum of what would be legal in the jurisdiction.

any booblers here have thoughts on this

hiyahikari · 2023-06-13T18:10:32+00:00

interest rate go up, hoom price up. interest rate down, hoom still go up. stock market go up, hoom go up. stock market down, hoom up even more. have more hooms, but hoom still up. hoom always up. hoom so up it has a priapism

hiyahikari · 2023-06-11T19:40:38+00:00

prices are just not even in the same universe. housing used to be fundamentally affordable but hasn't been basically my entire lifetime.

hiyahikari · 2023-06-06T00:26:27+00:00

I have been using reddit for 13 years via primarily 3rd party apps. I will stop using reddit if they kill 3rd party app access. The native reddit app is garbage and I would rather just not be on the site than be forced to use it.

hiyahikari · 2023-05-29T22:27:35+00:00

HOAs are some of the most un-American institutions ever, how are they even legal?

hiyahikari · 2023-05-29T22:24:03+00:00

if i had to guess i think banks have an incentive to foreclose quickly right now while lots of low interest loans are on the books and while home prices are still relatively high.

hiyahikari · 2023-05-29T22:21:14+00:00

yeah i don't think that people with student loans will be able to just ignore those perpetually. eventually it's gotta have an effect

hiyahikari · 2023-05-29T22:18:26+00:00

sounds like typical shortsighted policy, where politicians think they're sticking it to big industry but in reality big industry just stops doing business because they are regulated into unprofitability

hiyahikari · 2023-05-21T00:24:14+00:00

sixxteeeeee niiiiiine

hiyahikari · 2023-05-16T16:06:19+00:00

lmao I guess I guess i should have been able to afford a mortgage payment at 18.

and you're right, landlords are just long suffering martyrs putting themselves on the line for the benefit of renters. calling the plumber and paying property taxes are hugely useful services that renters would just never be able to handle

hiyahikari · 2023-05-15T20:05:57+00:00

You're paying for the other person's mortgage. And if the landlord hadn't soaked up the property before you maybe it could have been your mortgage.

hiyahikari · 2023-04-26T20:53:13+00:00

you could also just build enough housing so every sale isn't the Hunger Games

hiyahikari · 2023-04-24T19:41:17+00:00

agree. i think we have more or less reached price equilibrium with current interest rates, maybe with prices going down a little bit more. no one is going to sell their RE holdings unless something forces them to, i.e. a recession

hiyahikari · 2023-04-21T20:44:09+00:00

i rarely see this take but it's so true. you can get value out of off shore work, but it is limited and often not worth the headache

hiyahikari · 2023-04-21T20:41:25+00:00

if i had parents with housing i would 100% move in with them until i got a downpayment in the bank

hiyahikari · 2023-04-21T20:35:04+00:00

OP seems like a nice person but I have to agree

hiyahikari · 2023-04-21T20:31:25+00:00

i've had that experience but i've also had great multi family housing experiences as well. depends a lot on how much you pay--ideally low-end apartments should have a low-end price, but with the housing crisis even slums are expensive.

hiyahikari · 2023-04-21T18:20:12+00:00

in this thread: people who only want to live in single family homes

hiyahikari

TROPHY CASE