Maybe, the bubble could also burst as well. I'm hoping it bursts. This is getting ridiculous. The average American can no longer live the American dream. At this point, I want a girlfriend just for the second income lol
The housing market
- Thread starter Never_Enough
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Is that why the stock market just took a recent tumble?
I'll be damned if I'm going to offer some obscene amount over asking for any house. Overpaying for shit on purpose = you're asking for trouble. Unless of course you are in the 1% then who cares you're ****ing rich
$10k? Sounds like Drexel Hill up here. **** that.
I just bought a townhouse and my mortgage, taxes and insurance are half of what my friend's rent is. He just moved into a brand new apartment complex.
PA is leaps and bounds cheaper than NJ is though, just sayin.
PA is leaps and bounds cheaper than NJ is though, just sayin.
Depends on where just like here. I spent most of my life in NJ & owned a home there.
I completely get where you’re coming from.
In fact, the insanely rising RENTS here are what prompted me to buy. My rent was being raised incremently every year, and all of the sudden im paying $1700 a month for a one bedroom apartment with no garage (2 parking spaces though) a few blocks from the beach.
**** that.
I saved more than enough over the years for a 20% down payment to avoid PMI and my mortgage is cheaper than my rent was, and I now have an attached 2 car garage, an extra bedroom and bathroom, and about 1000 sq ft more of fully renovated living space with a rockstar kitchen, bathroom, new dual pane windows, ect.
My old neighbor (who is part owner of the local board and brew here) said that rent got raised AGAIN to $1800 a month. For a ****ing 700 sq ft 1 bedroom.
Total bullshit.
$1800 for 700sq ft, then noticed you were in CA and not surprised. Cali is insane, and stupid, for that matter. They area destroying their economy and before you know it, nothing but rich people and homeless people wil be left.
Isn’t that ironic? Dems, the “heroes” of the poor, are killing the middle class. With no middle class, the poor have no chance of recovering.
You made the right decision in your case.
Seattle/Tacoma area is the same (Seattle worse though). Bought my house 4 years ago, and now I could sell it for double what I bought it for. My co-workers wife is my real estate agent, and she swears I can even get 15-30K more than that if i wanted. One hand makes it tempting, but on the other hand other properties I am interested in have gone up the same. Sometimes I have no idea how people afford to buy houses around here.
I went through veteran United. Super awesome and easy to deal with
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Where do you want to go?
You know its bad when people in the Bay area are talking about how insane Vancouver is. I got lucky, I bought a home private party in 2014, the house is now worth almost double what I paid for it 4 years ago.
i have often considered doing the same thing. supposedly i have alot of equity in my place (bought in '09) and the idea of buying a house outright in a neighboring state sure is tempting, but i think i would regret it because i would miss the socal weather and surfing.
A big reason the market is the way it is (here at least) is the lack of available homes. Basic supply and demand. Until there are more houses to buy than there are people in the market, I don't see things changing.
I'm going back east where I grew up. I was raised in western NY and SE Pennsylvania and all my family are in those areas. However, it will depend on where I secure employment. I realize this is blasphemy but I actually like snow and colder weather. Keeps me energetic and productive.
This is the case in most of the larger urban areas, these regions have already expanded out as far as they realistically can from the denser urban cores and infill housing has not kept step with demand over the last decade or so. New jobs since the 2008 downturn seem to have been focused mainly in large urban regions and people are flocking to these areas but new housing is not being built to accommodate them.
San Francisco is having major issues with this right now, rents there are astronomical and the amount of new housing being built is laughable. I moved out after my rent on my 1 bedroom in law unit was going to go up to 2600 a month. My mortgage is almost a a grand cheaper.
I don't see the price of building going down unless materials become cheaper. I do see it costing 3-5x more to a build a house in the future due to the incredible lack of experienced tradesmen. With the majority of your master tradesmen being 50-55 they're on their way out and there isn't anyone to fill their shoes.
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