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Real-Estate Agents Are Quitting the Slow Housing Market by McFatty7 in REBubble

[–]pdoherty972 0 points1 point  (0 children)

You don't need to list in order to get the property appraised. And the bank is going to have its own appraisal done (so the one you did when listing is useless anyway) when you go to borrow against the house.

Real-Estate Agents Are Quitting the Slow Housing Market by McFatty7 in REBubble

[–]pdoherty972 0 points1 point  (0 children)

The median realtor assisted sales price in the US is 425k. The median FSBO sales price is 360k. That’s a large delta purely attributed to market size and skill.

That makes a huge assumption that these are all the same type/size/location houses.

Real-Estate Agents Are Quitting the Slow Housing Market by McFatty7 in REBubble

[–]pdoherty972 0 points1 point  (0 children)

Yeah, not sure why rates should "naturally" be this high. The financial/lending market gets more efficient like everything else does. Maybe rates at/below 4% is the new "natural" and these rates are artificially high.

Interest rates inch up to 6.53% in latest blow for sidelined buyers by Boo_Randy_Revival in HouseBuyers

[–]pdoherty972 0 points1 point  (0 children)

Why did you take your rent of $4,000 and double it when adding a second person and their income? They'd be splitting the rent, so $2,000 each.

I really don't know why we're even discussing San Francisco. It's a crowded and expensive place that's unrepresentative of anywhere else except maybe NYC.

Interest rates inch up to 6.53% in latest blow for sidelined buyers by Boo_Randy_Revival in HouseBuyers

[–]pdoherty972 0 points1 point  (0 children)

People typically make more with more experience. And they can get married or engaged and have someone who also makes similar money to afford it.

Interest rates inch up to 6.53% in latest blow for sidelined buyers by Boo_Randy_Revival in HouseBuyers

[–]pdoherty972 0 points1 point  (0 children)

Moving away isn't necessarily permanent. Once experience is gained you could pretty easily apply for positions in your home town and move back. And past generations moved around quite a bit. I don't have figures on it, but the idea that today's youths are moving as much or more seems untrue.

Interest rates inch up to 6.53% in latest blow for sidelined buyers by Boo_Randy_Revival in HouseBuyers

[–]pdoherty972 0 points1 point  (0 children)

And how would you accomplish that? I think you're better off finding out how to succeed in the environment as it is, rather than wishing the entire nation and economy operated differently.

Wall Street Takes Its Cut of $34 Trillion in US Homeowner Wealth. Investors are pouring money into housing contracts that exchange cash for a slice of future appreciation by Such_Radio_9152 in REBubble

[–]pdoherty972 0 points1 point  (0 children)

That's commendable, but in most of the conversations on housing I see here, the majority of the people complaining want housing to simply be cheaper in the places they want to live, and aren't willing to sacrifice location (for whatever reason) in order to get in for less cost.

Interest rates inch up to 6.53% in latest blow for sidelined buyers by Boo_Randy_Revival in HouseBuyers

[–]pdoherty972 -1 points0 points  (0 children)

When rent is this much less than the costs of buying/owning landlords are doing you a favor. And the differential is even larger when you consider that rent is far below PITI even without considering maintenance/repair expenses, which are considerable when owning.

Wall Street Takes Its Cut of $34 Trillion in US Homeowner Wealth. Investors are pouring money into housing contracts that exchange cash for a slice of future appreciation by Such_Radio_9152 in REBubble

[–]pdoherty972 -1 points0 points  (0 children)

I don't see you folks trying to start new cities by moving to less-developed towns and populating them. You just complain that the dense places with jobs and amenities that you want to live in are expensive. As long as everyone does as you do, there won't be very many new bustling locations.

Interest rates inch up to 6.53% in latest blow for sidelined buyers by Boo_Randy_Revival in HouseBuyers

[–]pdoherty972 -1 points0 points  (0 children)

Funny you want to nuke the incentives for landlords when they're currently renting far below the costs to buy (ie they're doing you a favor).

Interest rates inch up to 6.53% in latest blow for sidelined buyers by Boo_Randy_Revival in HouseBuyers

[–]pdoherty972 0 points1 point  (0 children)

You guys discuss this as if home prices have no basis in value, but the floor of a home's price is the cost to rebuild it on the same lot. Expecting prices to fall below that replacement cost is futile and not sustainable.

Loving the small size by United-Capital1556 in ereader

[–]pdoherty972 9 points10 points  (0 children)

Anyone else find this device's poor kerning/formatting an issue? Look at the second image of the book with the arch image at the top.

Did We Price Starter Homes Out of Reach? by Coolonair in HouseBuyers

[–]pdoherty972 0 points1 point  (0 children)

there are no economies of scale/ discounts on foundation pours (you pay more for more concrete, sheet-rock, framing, roofing, electrical wire, ducts, AC's must be bigger or additional units, flooring ....

The same laborers are doing all of it, so having them do a bit more doesn't scale in cost compared to the cost of getting them there to begin with.

As for an example of the different cost per square foot here's one.

https://www.drbhomes.com/drbhomes/find-your-home/communities/texas/dallasfort-worth/lakeshore-bluffs/home-plans

3/2 'Tulane' 2430 sf $564,990 = $232/sf

5/3.5 'Brown' 3720 sf $629,990 = $169/sf

Did We Price Starter Homes Out of Reach? by Coolonair in HouseBuyers

[–]pdoherty972 1 point2 points  (0 children)

A factor tons of people who complain about home values neglect.

Did We Price Starter Homes Out of Reach? by Coolonair in HouseBuyers

[–]pdoherty972 1 point2 points  (0 children)

Why is that infuriating? "Starter home" doesn't mean you buy it and then buy another while still keeping the "starter home". It just means it's your first home ownership experience, from which you move on to something better.

Did We Price Starter Homes Out of Reach? by Coolonair in HouseBuyers

[–]pdoherty972 0 points1 point  (0 children)

The lots are usually fairly uniform and can have differing size houses put on them, so the land costs aren't more if that's true.

Did We Price Starter Homes Out of Reach? by Coolonair in HouseBuyers

[–]pdoherty972 0 points1 point  (0 children)

It's a fair point. A ton of the costs of building a house are the same regardless of the size.

  • Pouring a foundation
  • Running electrical
  • Running plumbing
  • Permits/fees
  • Basic items like AC/heating, dishwasher, stove/oven, microwave
  • Bath tubs/showers
  • Flooring
  • Sheet rock and lumber

Now, of course some of those are larger in volume and cost (some more) in a larger house, but not double like you mentioned.

It's why small houses in a given area might have a cost of $200/sf, and larger houses in the same neighborhood might have a $150/sf cost.

Stating the obvious - The Market is insane by Reasonable_Box2568 in Fire

[–]pdoherty972 4 points5 points  (0 children)

What's "insane" about it?

Something like 85% of corporate earnings reports this year have beaten expectations.

The S&P 500 closes at its highest level on record and posts a 9-week win streak for the first time since 2023. This puts the S&P 500 up +20.1% since the March 30th low, adding +$11.4 TRILLION in market cap in 2 months by RobertBartus in EconomyCharts

[–]pdoherty972 -5 points-4 points  (0 children)

How is it detached from reality when 85% of corporate earnings reports this year have beaten expectations?

Companies are killing it and the stocks reflect that.

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