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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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The housing market. 1
#27727099 - 04/09/22 10:30 AM (1 year, 9 months ago) |
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Recently mortgage rates spiked to 6.5% and are suppose to keep trending upward.
The fed is going to be raising interest rates .5% every 6 months to fight inflation.
The house I bought is up 3x in value over the last 6 years.
If I were to sell my house right now, if someone put 100,000 dollars down on it for their purchase, their mortgage would be 5,000 a month.
These prices seem far too insanely high.
Will this mortgage house of cards collapse?
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
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Re: The housing market. [Re: budmanman] 1
#27727158 - 04/09/22 11:08 AM (1 year, 9 months ago) |
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Well, the basic tenet of raising rates is to slow inflationary & expansionary economic forces, so naturally, the higher mortgage rates go, the "cooler" the housing market is going to get as the pool of potential buyers who can secure adequate financing will diminish. On the flip side, inflation is more or less universal across the economy, especially when driven by an undercurrent of rising energy costs (which are being exacerbated by the Russian/Ukrainian war), since almost everything has an energy component to its cost, from various points production to delivery.
Admittedly, wage growth tends to lag, and that will be the pinch point that slows the housing market. I wouldn't necessarily expect it to outright crash, although it will undoubtedly temper a bit, and could draw down if the Fed is too aggressive, which they almost have to be given how quickly purchasing power is diminishing, if they really want to put a lid on price expansion.
Bottom line is, it's good to be a home owner right now, as your equity is inflation resistant and should continue to track with price movement in the broader economy. If you've been a saver and sitting on piles of cash, these past couple of years have been an exceptionally painful period of time.
--------------------
-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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SharaVabdas



Registered: 03/23/22
Posts: 489
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Re: The housing market. *DELETED* [Re: budmanman]
#27741830 - 04/19/22 11:06 AM (1 year, 9 months ago) |
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Post deleted by SharaVabdas
Reason for deletion: Shroomery is full of bigots and I'm leaving.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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How did u manage to get 10k in debt just by moving out of a home?
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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kreg
Shoebox Enthusiast+

Registered: 09/14/21
Posts: 2,434
Loc: sloosination🏳
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Re: The housing market. [Re: budmanman]
#27741978 - 04/19/22 12:29 PM (1 year, 9 months ago) |
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Boomers raised housing prices- ok millionals, lets raise cocaine prices 🤷😏
Edited by kreg (04/19/22 12:30 PM)
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SharaVabdas



Registered: 03/23/22
Posts: 489
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Re: The housing market. *DELETED* [Re: budmanman] 1
#27741987 - 04/19/22 12:33 PM (1 year, 9 months ago) |
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Post deleted by SharaVabdas
Reason for deletion: Shroomery is full of bigots and I'm leaving.
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TheDirtFarmer
Identifies as Morgan Freeman



Registered: 04/07/22
Posts: 1,013
Loc: Mexican Canada
Last seen: 2 months, 13 days
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Housing markets are great if your a seller looking to rip off buyers right now. Being a buyer its terrible. At this point id have to spend my life savings on down payment and closing cost just to get the monthly payment low enough to be affordable. And thats a modest house. Now i could do what everybody in my area seems to be doing. Buy a 600sq ft 2br house you can barely breathe in for 80k, dump in 40k to remodel, and expect idiots to buy a tiny house for 4x what its worth.
Renting is even worse. They want as much in the run down ghetto areas as they do the nice areas. Looking like a good time to burn the rich and redistribute their assets.
Edited by TheDirtFarmer (04/19/22 06:22 PM)
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Where I live condemned homes that need to be torn down go for 400k.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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TheDirtFarmer
Identifies as Morgan Freeman



Registered: 04/07/22
Posts: 1,013
Loc: Mexican Canada
Last seen: 2 months, 13 days
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Re: The housing market. [Re: budmanman] 1
#27742606 - 04/19/22 07:36 PM (1 year, 9 months ago) |
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I see your from communist california.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Washington state. Also communist.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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TheDirtFarmer
Identifies as Morgan Freeman



Registered: 04/07/22
Posts: 1,013
Loc: Mexican Canada
Last seen: 2 months, 13 days
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Re: The housing market. [Re: budmanman]
#27742678 - 04/19/22 08:09 PM (1 year, 9 months ago) |
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Whole U.S. will be like that if this keeps up.
Edited by TheDirtFarmer (04/19/22 08:11 PM)
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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I bought my house for 260kish 6ish years ago its rapidly approaching 1 million. I'm not sure what I'm suppose to do when you find yourself in this situation.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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ManianFH
living in perverty



Registered: 07/06/04
Posts: 14,741
Last seen: 15 hours, 10 minutes
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Re: The housing market. [Re: budmanman]
#27742866 - 04/19/22 10:21 PM (1 year, 9 months ago) |
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Depends on your needs. If you need a place to live, stay on it.
Chances it willl ever drop to at or below what you paid are slim. To any potential homebuyers the best advice I can give is to save up and wait out the cycle. As interest rates keep climbing there will likely be a supply change, especially in non metropolitan areas. Nothing goes up forever, at least that I know of
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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TheDirtFarmer
Identifies as Morgan Freeman



Registered: 04/07/22
Posts: 1,013
Loc: Mexican Canada
Last seen: 2 months, 13 days
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Re: The housing market. [Re: budmanman]
#27743655 - 04/20/22 01:24 PM (1 year, 9 months ago) |
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Quote:
budmanman said: I bought my house for 260kish 6ish years ago its rapidly approaching 1 million. I'm not sure what I'm suppose to do when you find yourself in this situation.
Hard situation. On one hand value will drop again eventually. On the other hand its a great hedge against inflation. If it were me id probably sell while its high, rent until prices drop, then hold the profits split up between different banks to keep it all FDIC insured and drop 300k on a new place when the market has cooled down.
That all hinges on having enough income to afford rent on a place that meets your housing needs without dipping into your profits though.
I talk some serious shit as a buyer but as a seller id rake in the cash and secure enough capital to make investments and build wealth.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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I just worry that this place is like sanfransisco now and it's up only.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: budmanman] 1
#27747621 - 04/23/22 03:59 AM (1 year, 9 months ago) |
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Well I am seeing strong evidence the housing market is about to tank, mostly from the interest rates I assume but I am seeing drastic price drops, I am talking substantial, its gonna snowball I can feel it.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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kreg
Shoebox Enthusiast+

Registered: 09/14/21
Posts: 2,434
Loc: sloosination🏳
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Re: The housing market. [Re: budmanman]
#27747728 - 04/23/22 07:08 AM (1 year, 9 months ago) |
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Quote:
budmanman said: Well I am seeing strong evidence the housing market is about to tank, mostly from the interest rates I assume but I am seeing drastic price drops, I am talking substantial, its gonna snowball I can feel it.
Sad thibg its too late for a lot of buyers who had to spend all their savings on their current living expenses, all this time. I hope Im wrong. I dont want to see the country fill up with empty abandoned condemned homes
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Hartford
Lawful Good



Registered: 11/27/19
Posts: 1,106
Loc: Tennessee
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Re: The housing market. [Re: kreg]
#27747775 - 04/23/22 07:48 AM (1 year, 9 months ago) |
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Sell your house an move to Tennessee, of course.
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TheFakeSunRa
Bitch Splitter



Registered: 03/01/05
Posts: 16,449
Loc: Dirdy SOUF
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Re: The housing market. [Re: budmanman]
#27747851 - 04/23/22 09:12 AM (1 year, 9 months ago) |
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Quote:
budmanman said: Well I am seeing strong evidence the housing market is about to tank, mostly from the interest rates I assume but I am seeing drastic price drops, I am talking substantial, its gonna snowball I can feel it.
It’s real. The new interest rates are good news for crackas that can pay ca$h
-------------------- [quote]Asante said: You constantly make posts thatr fling middle school insults at people you don't like mixed in with maladjusted psychopathic comments about wanting to beat up the other poster with a crowbar. You know how shit you are, you just don't give a fuck for precisely that reason. I disendorse you.[/quote]
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kreg
Shoebox Enthusiast+

Registered: 09/14/21
Posts: 2,434
Loc: sloosination🏳
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Re: The housing market. [Re: Hartford]
#27747855 - 04/23/22 09:17 AM (1 year, 9 months ago) |
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Quote:
Hartford said: Sell your house an move to Tennessee, of course.
Nope. We are full, stay where you are thanks. - the south east.
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Hartford
Lawful Good



Registered: 11/27/19
Posts: 1,106
Loc: Tennessee
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Re: The housing market. [Re: kreg] 1
#27747867 - 04/23/22 09:32 AM (1 year, 9 months ago) |
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Just don't vote the same way when you get here.
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kreg
Shoebox Enthusiast+

Registered: 09/14/21
Posts: 2,434
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Re: The housing market. [Re: Hartford]
#27747893 - 04/23/22 09:46 AM (1 year, 9 months ago) |
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: Hartford] 2
#27748226 - 04/23/22 02:32 PM (1 year, 9 months ago) |
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Quote:
Hartford said: Just don't vote the same way when you get here.
Just sold my house I am coming with all my gains to TN and bringing my Liberal ideologies with me. I have some great communist ideas.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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kreg
Shoebox Enthusiast+

Registered: 09/14/21
Posts: 2,434
Loc: sloosination🏳
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Re: The housing market. [Re: budmanman]
#27748553 - 04/23/22 06:56 PM (1 year, 9 months ago) |
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Quote:
budmanman said:
Quote:
Hartford said: Just don't vote the same way when you get here.
Just sold my house I am coming with all my gains to TN and bringing my Liberal ideologies with me. I have some great communist ideas.
Hehehehe you know what? You do that. In fact, go straight up to black folk and tell them all about your plans to be their white ally in your agenda, they will LOVE that.. whiteboi haaahahahaha
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Hartford
Lawful Good



Registered: 11/27/19
Posts: 1,106
Loc: Tennessee
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Re: The housing market. [Re: kreg] 1
#27748575 - 04/23/22 07:08 PM (1 year, 9 months ago) |
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Are you wanting to redistribute your wealth, Budmanman?
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: Hartford]
#27749007 - 04/24/22 12:38 AM (1 year, 9 months ago) |
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Only the Billionaires of course, its time for them to pay, for my lifestyle that I want.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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kreg
Shoebox Enthusiast+

Registered: 09/14/21
Posts: 2,434
Loc: sloosination🏳
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Re: The housing market. [Re: budmanman]
#27749081 - 04/24/22 03:10 AM (1 year, 9 months ago) |
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pfftQuote:
budmanman said: Only the Billionaires of course, its time for them to pay, for my lifestyle that I want.
pfft ok fine where are you pm me
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SimulatedMatrix33
Inter-dimensional Being



Registered: 04/09/22
Posts: 529
Loc: Planet Kai. Hacker of the Matr...
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Re: The housing market. [Re: budmanman]
#27799706 - 05/31/22 01:07 AM (1 year, 7 months ago) |
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Anybody recall 2008? History repeating itself. By 2025 all these overpriced homes people took out loans to get will be devalued and millions of people will be upside down and eventually the economy will crash with massive layoffs forcing people to default and banks foreclosing. Banks and counties get rich as usual due to high property taxes in overvalued hones and the banks from giving these people loans for houses that are no where near there value. If you think inflation is bad now, wait a couple years. 2008 all over again . Best advice is, if you have multiple houses, sell, and if you’re looking to buy, just save your money. It’s like buying a used 2000 Honda for the price of a brand new Mercedes.
-------------------- My L.A.G.M 2023 grow log Everything you’ve learned and been told is a lie. You are living in a simulated reality called the game 23. The obstacle is for you to escape this matrix. Your conscience is stored in the Black Saturn cube, you need to find a way to escape now as Judgement day is coming. I live through the conscience minds of those who seek enlightenment through way of psychedelic. I’m the messenger brought down to your realm
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QM33
(NOT A PUPPET!) ❤❤❤❤❤



Registered: 04/09/20
Posts: 4,739
Loc: Oregon
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Quote:
budmanman said: Where I live condemned homes that need to be torn down go for 400k.
Quote:
budmanman said: Washington state. Also communist.
Ya right bro, I'm in Portland, your nuts. I wondered how much I should be trusting what you type, this proves it. Your so full of shit.
Quote:
budmanman said: I just worry that this place is like sanfransisco now and it's up only.
I'm going for a USDA farm loan, guaranteed for farmers under 35 with 3 years farm ownership. Sounds easier than college and you get your own business right? And your doing one of the most increasingly important jobs in. No down payment, 1% interest fixed for 30 years and a cap amount based on the average farm price currently in America.
Fuck your conventional bank shit. Sign your life away for what. Mr GED owns his house after 10 years or some shit like that right bud? I don't believe you. I don't care to entertain the thought even.
The housing market will crash soon, as the economy is crashing. Isn't half your money in Bitcoin anyone bud? How's that going forya?
With fuel on the rise, how that's effecting the supply chain, inflation, the housing market, all of that combined is going to crash out economy. Not just houses, housing.
Noones, NOONE, is thinking about buying a house right now.
And all I get from this dumb post you made is you trying to swing you little baby dick around like "oooo I got a house, and houses are worth so much, and noone can afford one, I'm so great". Call me bitter, I'm not. All I see is stupid. Nothing I've ever read for you I found valuable, and I'm suppose to looks at what your doing relative to getting a house. I could care less. But I think you may be stealing light from other readers even. It's not that easy. Not these days. And your probably just full of shit like usuall anyways.
-------------------- OmManiPadmeHum,OmManiPadmeHum, OmManiPadMeHum... There are known knowns, there are known unknowns, there are also unknown unknowns. With great privilege comes great responsibility.
  Quantom Qups PROOF AND Soft Drops Turn your Swab to a Syringe and Syringe to Multiple Syringes! No Pours (QuantomStyal)Magic Fruit Leather DMT for IandI
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: QM33]
#27802581 - 06/02/22 11:47 AM (1 year, 7 months ago) |
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I have never heard about these USDA farm loans with 1% interest. That seems interesting.
Farms in my state are worth million and millions of dollars. I am not sure someone just entering the game here could even turn a profit with how much land costs here right now.
However a good while ago I was browsing houses in Oklahoma and many farms there are under 200k I am sure the more industrial sized farms cost a bit more than that but at 1% interest that could be a good play.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: budmanman]
#27802583 - 06/02/22 11:50 AM (1 year, 7 months ago) |
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Here is a condemned home in Seattle in 2016 that sold for 427,000 dollars.
https://www.seattletimes.com/business/this-mold-house-decaying-home-too-dangerous-to-enter-sparks-insane-bidding/
Home values have doubled or tripled here since then lol.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: budmanman]
#27802584 - 06/02/22 11:52 AM (1 year, 7 months ago) |
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Home values in the Seattle Area are down, price reductions from 50k on mid tier homes and upwards of 300k+ on the really high end homes.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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QM33
(NOT A PUPPET!) ❤❤❤❤❤



Registered: 04/09/20
Posts: 4,739
Loc: Oregon
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Re: The housing market. [Re: budmanman]
#27802593 - 06/02/22 12:02 PM (1 year, 7 months ago) |
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Quote:
budmanman said: I have never heard about these USDA farm loans with 1% interest. That seems interesting.
Farms in my state are worth million and millions of dollars. I am not sure someone just entering the game here could even turn a profit with how much land costs here right now.
However a good while ago I was browsing houses in Oklahoma and many farms there are under 200k I am sure the more industrial sized farms cost a bit more than that but at 1% interest that could be a good play.
My bad, not lower than 1.5%. and it is based on the current market rate average. So it is probably a bit different than a couple years ago now..
https://www.fsa.usda.gov/programs-and-services/farm-loan-programs/farm-ownership-loans/index
Click on the quick fact sheet link in like the center of the page.
-------------------- OmManiPadmeHum,OmManiPadmeHum, OmManiPadMeHum... There are known knowns, there are known unknowns, there are also unknown unknowns. With great privilege comes great responsibility.
  Quantom Qups PROOF AND Soft Drops Turn your Swab to a Syringe and Syringe to Multiple Syringes! No Pours (QuantomStyal)Magic Fruit Leather DMT for IandI
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QM33
(NOT A PUPPET!) ❤❤❤❤❤



Registered: 04/09/20
Posts: 4,739
Loc: Oregon
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Re: The housing market. [Re: budmanman]
#27802595 - 06/02/22 12:03 PM (1 year, 7 months ago) |
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Quote:
budmanman said: Here is a condemned home in Seattle in 2016 that sold for 427,000 dollars.
https://www.seattletimes.com/business/this-mold-house-decaying-home-too-dangerous-to-enter-sparks-insane-bidding/
Home values have doubled or tripled here since then lol.
At least they said it wasn't a wise investment. Jesus
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: QM33]
#27802597 - 06/02/22 12:07 PM (1 year, 7 months ago) |
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Looks like the max Loan amount is 600k. Can't buy anything in my state farm wise for that much.
I have for quite a few years now, dreamed of liquidating all my assets and moving somewhere cheap like Oklahoma or something.
When I got laid off during covid I almost did it in a panic.
Now I got my job back but there are rumors that hundreds of employees are going to be moved to the Renton location which means an hour commute for me if I get moved there, which I am not ok with which has thinking of Oklahoma again.
A much more simple life sounds appealing but the grass is always greener or something like that.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: QM33]
#27802612 - 06/02/22 12:25 PM (1 year, 7 months ago) |
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Quote:
QM33 said:
Quote:
budmanman said: Here is a condemned home in Seattle in 2016 that sold for 427,000 dollars.
https://www.seattletimes.com/business/this-mold-house-decaying-home-too-dangerous-to-enter-sparks-insane-bidding/
Home values have doubled or tripled here since then lol.
At least they said it wasn't a wise investment. Jesus
Here is the follow up article.
https://www.seattletimes.com/business/real-estate/toxic-west-seattle-home-that-sparked-insane-bidding-war-replaced-with-12m-box-house/
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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QM33
(NOT A PUPPET!) ❤❤❤❤❤



Registered: 04/09/20
Posts: 4,739
Loc: Oregon
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Re: The housing market. [Re: budmanman]
#27802632 - 06/02/22 01:01 PM (1 year, 7 months ago) |
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Quote:
budmanman said: Looks like the max Loan amount is 600k. Can't buy anything in my state farm wise for that much.
I have for quite a few years now, dreamed of liquidating all my assets and moving somewhere cheap like Oklahoma or something.
When I got laid off during covid I almost did it in a panic.
Now I got my job back but there are rumors that hundreds of employees are going to be moved to the Renton location which means an hour commute for me if I get moved there, which I am not ok with which has thinking of Oklahoma again.
A much more simple life sounds appealing but the grass is always greener or something like that.
I can grow 100lbs a week of oysters without a doubt in a 10*20' space.
Idk, seems like feeding into a rat race to me.
I kinda want to move like 4 hours away where the weather's not as nice but the rents 4x as cheap and the towns are 10x as small, but hey, beggars can't be choosers.
-------------------- OmManiPadmeHum,OmManiPadmeHum, OmManiPadMeHum... There are known knowns, there are known unknowns, there are also unknown unknowns. With great privilege comes great responsibility.
  Quantom Qups PROOF AND Soft Drops Turn your Swab to a Syringe and Syringe to Multiple Syringes! No Pours (QuantomStyal)Magic Fruit Leather DMT for IandI
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: QM33]
#27805983 - 06/04/22 05:46 PM (1 year, 7 months ago) |
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Where I live it rains about 9 months out of the year.
There is a term use for here called the Seattle Freeze. Basically the constant being indoors because its always raining makes people go insane and hostile.
I mean we literally had a CHAZ zone where they took over a police station this place is nuts. I have lived here my whole life and I have a feeling there is better out there than here.
But this is where the Aerospace Industry is and I spent my entire life wanting to get into Aerospace and well I guess it is a dream come true to finally be doing it, however I only do about 1-4 hours of work a day and the rest of the day I watch videos or play mobile games.
The new Diablo Immortal is out so I spent most of Friday at work playing that.
Most of the day most of the employees are doing nothing and most make 100k+ a year and I am wondering if the business is even sustainable long term with this level of unproductivity.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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QM33
(NOT A PUPPET!) ❤❤❤❤❤



Registered: 04/09/20
Posts: 4,739
Loc: Oregon
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Re: The housing market. [Re: budmanman]
#27806560 - 06/05/22 05:07 AM (1 year, 7 months ago) |
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Probably not, especially considering the economy. Who care tho the gov will bale them out, and inflation will keep going up.
I should have a house in no time.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: QM33]
#27806561 - 06/05/22 05:11 AM (1 year, 7 months ago) |
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The last time the government tried to bail them out during covid the government wanted part ownership for bailing them out so they went with a private loan instead.
Despite all their online postings of Pro BLM and ACAB and pro socialist crap during the riots and shit, the moment socialism starting trying to stick its paws in their business they were like fuck off.
Anyway they're doing all that rainbow shit right now.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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QM33
(NOT A PUPPET!) ❤❤❤❤❤



Registered: 04/09/20
Posts: 4,739
Loc: Oregon
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Re: The housing market. [Re: budmanman]
#27806563 - 06/05/22 05:13 AM (1 year, 7 months ago) |
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Lol the last time during covide.. like a year ago? . Hahahahaha. What a world.
That probably won't be able to swing that again.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: QM33]
#27806569 - 06/05/22 05:22 AM (1 year, 7 months ago) |
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It was like 2 years ago.
And now with Airbus finally being a major competitor and the new Chinese aircraft entering the game it is hard to say what the future holds.
But their defense sector will probably always keep them afloat.
At this point I feel like I would rather work for airbus but there is very little opportunity in the states to work for them.
During the Covid lay offs a lot of people went to space X but space X was a long drive for me so I was like fuck that shit.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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QM33
(NOT A PUPPET!) ❤❤❤❤❤



Registered: 04/09/20
Posts: 4,739
Loc: Oregon
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Re: The housing market. [Re: budmanman]
#27806575 - 06/05/22 05:28 AM (1 year, 7 months ago) |
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Our tax dollars at work..
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TheFakeSunRa
Bitch Splitter



Registered: 03/01/05
Posts: 16,449
Loc: Dirdy SOUF
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Re: The housing market. [Re: budmanman]
#27806768 - 06/05/22 09:22 AM (1 year, 7 months ago) |
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Quote:
budmanman said: The last time the government tried to bail them out during covid the government wanted part ownership for bailing them out so they went with a private loan instead.
Despite all their online postings of Pro BLM and ACAB and pro socialist crap during the riots and shit, the moment socialism starting trying to stick its paws in their business they were like fuck off.
Anyway they're doing all that rainbow shit right now.
Usually I find you difficult to read but this is dead on.
-------------------- [quote]Asante said: You constantly make posts thatr fling middle school insults at people you don't like mixed in with maladjusted psychopathic comments about wanting to beat up the other poster with a crowbar. You know how shit you are, you just don't give a fuck for precisely that reason. I disendorse you.[/quote]
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ManianFH
living in perverty



Registered: 07/06/04
Posts: 14,741
Last seen: 15 hours, 10 minutes
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Yah I remember working only an hour a day for half the wage you’re talking about, some of the happiest days of my life. Kinda would like to be doing that again haha
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: ManianFH]
#27807765 - 06/06/22 01:13 AM (1 year, 7 months ago) |
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Most days I only work an hour but I have to be physically present for 8.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: budmanman]
#27810090 - 06/07/22 07:40 PM (1 year, 7 months ago) |
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-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: budmanman] 1
#27815393 - 06/11/22 10:59 PM (1 year, 7 months ago) |
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I am starting to see homes that would normally be listed for 950k in my area now listing for 680k.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: budmanman]
#27841692 - 06/28/22 11:58 PM (1 year, 6 months ago) |
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My homes zestimate is catching up to market conditions. Has lost 50k in valueover the last 30 days.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
Last seen: 3 minutes, 53 seconds
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Re: The housing market. [Re: budmanman]
#27842687 - 06/29/22 05:01 PM (1 year, 6 months ago) |
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Real estate is a locally dependent market. Zillow reports my "zestimate" value is +0.5% over the last 30 days, at a rather ludicrous $1110 per square foot! I'd have a hard time believing it except that I've toured toured several of the comparable properties around my block that have been selling at those sky high rates. Plop my home in Mississippi and it'd be worth ~25% of what it fetches here. I'm removed from the inner city but have easy access into the heart of LA and its surrounding cities. Although I do expect some additional cooling in the market, I personally feel relatively insulated to major shocks due to the prime location. My home is somewhat lower end for the neighborhood, which is actually preferable with regard to price stability, as I own an entry level home in a very high ranking public school district, and it's a lot easier to find families eager to buy the entry level homes to get their kids quality education, than it is the $10-$15 million dollar properties that often sell for under asking, whereas a home in my more pedestrian end of neighborhood recently set a record at 30%+ over asking.
--------------------
-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: geokills]
#27969965 - 09/26/22 11:39 PM (1 year, 3 months ago) |
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Mortgage rates are hitting 7% and the housing market has taken a significant sink, projections are 20% more downward motion from here, news articles appearing calling the market a bubble
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
Last seen: 3 minutes, 53 seconds
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Re: The housing market. [Re: budmanman]
#27970643 - 09/27/22 01:05 PM (1 year, 3 months ago) |
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Yeah, with the Fed still pedal to the metal on rate hikes, the housing market is definitely feeling the effects. I think a lot of folks were expecting the Fed to back off a bit once they saw the market react, but that isn't happening, at least not yet. My home is still hanging in there @ an estimated $1029/sq ft, although still down roughly 7% from its peak value as of the post I made above three months ago. We'll see how it goes...
--------------------
-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: geokills]
#27970744 - 09/27/22 02:19 PM (1 year, 3 months ago) |
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My house has lost about 18% so far.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: budmanman]
#27970776 - 09/27/22 02:42 PM (1 year, 3 months ago) |
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You live in some kind of Crazy expensive area, like if my house was where your house is my shit would be worth almost 2 million dollars.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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croyleje



Registered: 08/22/22
Posts: 122
Last seen: 1 year, 14 days
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Re: The housing market. [Re: budmanman]
#27970782 - 09/27/22 02:45 PM (1 year, 3 months ago) |
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Simple answer yes and so will your homes value unless your exceedingly lucky or live in a very very desirable area.
-------------------- Learn Linux and cut your ties to big tech, remember if a service is provided to you for free you and your data are the payment. https://www.fsf.org/
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ManianFH
living in perverty



Registered: 07/06/04
Posts: 14,741
Last seen: 15 hours, 10 minutes
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Re: The housing market. [Re: croyleje]
#27972999 - 09/28/22 09:35 PM (1 year, 3 months ago) |
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Man my brother tried to sell his house at 1.2 but I think these rates got in the way. One year ago sold without a problem, now not a single bid.
He said they’re good regardless and love their house, but crazy what a few short months can bring
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: The housing market. [Re: ManianFH]
#28012451 - 10/23/22 12:46 PM (1 year, 3 months ago) |
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Interest rates are now 7% and some people getting 8%, 2023 is predicted to hit double digit rates.
I just did some calculations with a mortgage calculator and for someone to buy my house with a modest 30k down their payment would be 5,200 a month.
with a whopper of 120k down payment, it would be 4,150 a month.
even with the large 120k down payment, that is 50k a year in just mortgage payments alone.
That is completely out of reach for most people. These prices are about to tank.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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Ahab McBathsalts
OTD Windmill Administrator




Registered: 11/25/02
Posts: 35,107
Loc: Wind Turbine, AB
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Re: The housing market. [Re: budmanman]
#28012718 - 10/23/22 03:09 PM (1 year, 3 months ago) |
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Prices and interest rates are typically inversely correlated.
Interest rates go up, prices gotta go down. We've had 40 years of generally falling interest rates. It is going to be a rough decade for some, especially those holding variable rate debt.
At $350k @ 5.6% Your house price of price plus interest is $650k
At $430 @ 3.6% Your price plus interest is 650K
At $480 @ 2.6% Price is 650k.
The payment for all these mortgages is roughly the same at $2100 per month.
-------------------- "Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."
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Ahab McBathsalts
OTD Windmill Administrator




Registered: 11/25/02
Posts: 35,107
Loc: Wind Turbine, AB
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Or the fed flinches and somthing system looks like it will break and they start cutting rates within the next 18 months, which is my thought of what the base case will be.
-------------------- "Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."
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Forrester
aspiring sociopath


Registered: 02/05/13
Posts: 9,351
Loc: Northeast USA
Last seen: 24 days, 7 hours
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Re: The housing market. [Re: budmanman]
#28012898 - 10/23/22 05:19 PM (1 year, 3 months ago) |
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The housing boom around here has already begun to crash. I was lucky enough to get in at the right time when I sold mine. But if you got funds I think soon things are gonna get a LOT cheaper. A year ago, anything listed would sell in a week or less for over value, now those things are starting to sit for longer and longer.
But then there's supply and demand, so I could be wrong. That's why I like real estate as an investment though, there's only gonna be more and more people needing it, and there's only so many houses available, considering the cost of building is only going up.
-------------------- Repugnant is a creature who would squander the ability to lift an eye to heaven, conscious of his fleeting time here. ------------------- Have some medicinal mushrooms and want to get the most out of them? Try this double extraction method.
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Gorlax



Registered: 05/06/08
Posts: 6,695
Last seen: 15 days, 13 hours
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Re: The housing market. [Re: Forrester]
#28033577 - 11/04/22 11:12 PM (1 year, 2 months ago) |
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I tried to sell my house and my realtor dropped the ball. Won't go into specifics because it just generates massive anger. I fired that agency and just pulled off the market. I was planning on relisting here soon however. I've had multiple offers but from the peak I have accepted I'll be getting 10% less than what I would have gotten in June of 2022 if my realtor was actually competent.
There's a lock-in effect right now from people getting good rates on mortgages prior to the FED rate hikes. If you look up the data sales are down but the median listing prices are holding pretty steady because of this. Once inventory from these investors starts to dry up and housing builders finish up what they started already. Things should tighten back up.
If you look up the median rent in your area that's likely where you should gravitate your pricing towards. Example if median rent is $2100 month for a comparable home then the median listing price should be around $330,000 with a 6% 30-Y mortgage.
Housing is also hyperlocal, variable, and location matters more in large metros than anything.
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