2023 Real Estate Observations (roommates, social, increasing)

[massnative71]

Originally Posted by matrix5k

And yet buyers are qualified to buy homes at these prices. I'm not sure what you're looking for, do you want people to sell their homes for 25% less than market price or something?

I want people to be responsible, because I am tired of bailing out those who are not and watching this country go further down the drain.

[massnative71]

Originally Posted by matrix5k

If you stayed the course and dollar cost averaged the whole time, your 401k should be at all time high or very close with reinvested dividends and compound interest. SPY is only 6% below all time high.

Not everybody is fully invested in SPY, big shot.

[jayrandom]

Originally Posted by redplum33

This thread is for posting real estate observations (see thread title). If you disagree with an observation, state why. But it's not your place to tell others which observations they can or cannot post.

There’s a difference between worrying about the obesity epidemic and posting pictures of specific fat people and saying “boy, I’d never let myself get that disgusting”. This thread has recently veered so far into that the latter that it’s become hard not to say something.

Originally Posted by massnative71

It affects all costs in some way or another. If you haven't been reading the news, this country just came very close to defaulting on its debt. But you don't seem to see any of this as a concern.

And it’s strange you brought up the debt default, because anyone who has been paying attention knows the default had nothing at all to do with real estate. It’s used as a pinch point for the party out of the White House to force concessions it otherwise couldn’t get. The actual debt is of little actual concern to either party. Democrats spend like it’s the only thing they know how to do and Republicans quietly continue the lion’s share of spending (military and entitlements) while also cutting taxes.

[matrix5k]

Originally Posted by massnative71

I want people to be responsible, because I am tired of bailing out those who are not and watching this country go further down the drain.

There's only been a handful of homes posted here that were purchased high and sold for lower, and we don't know the reasons. Maybe someone had to go back to their home country ASAP for family reasons. The most recent ones posted had at least a 20% down payment according to newenglandgal so the buyers are responsible. And this thread has a very narrow viewpoint, people like to only post homes that they think are way overpriced. No one is posting homes that sell for reasonable amounts so there's a lot of bias here.

The lenders have been pretty strict with handing out mortgages since 2008. When we bought, we had to submit document after document to prove we could afford it. Not sure how anyone can buy a house without being qualified these days.

[matrix5k]

Originally Posted by jayrandom

There’s a difference between worrying about the obesity epidemic and posting pictures of specific fat people and saying “boy, I’d never let myself get that disgusting”. This thread has recently veered so far into that the latter that it’s become hard not to say something.




And it’s strange you brought up the debt default, because anyone who has been paying attention knows the default had nothing at all to do with real estate. It’s used as a pinch point for the party out of the White House to force concessions it otherwise couldn’t get. The actual debt is of little actual concern to either party. Democrats spend like it’s the only thing they know how to do and Republicans quietly continue the lion’s share of spending (military and entitlements) while also cutting taxes.

My thoughts exactly!

[massnative71]

Originally Posted by jayrandom

And it’s strange you brought up the debt default, because anyone who has been paying attention knows the default had nothing at all to do with real estate. It’s used as a pinch point for the party out of the White House to force concessions it otherwise couldn’t get. The actual debt is of little actual concern to either party. Democrats spend like it’s the only thing they know how to do and Republicans quietly continue the lion’s share of spending (military and entitlements) while also cutting taxes.

Not sure your point exactly? The bailing out of individuals and corporations from the consequences of their own reckless behavior, has (2008 was no exception) contributed substantially to the national debt. And it's also indisputable the consequences our debt has on everything, from inflation to our economic future and ability to maintain things like a safety net and a strong military.

[massnative71]

Originally Posted by matrix5k

There's only been a handful of homes posted here that were purchased high and sold for lower, and we don't know the reasons. Maybe someone had to go back to their home country ASAP for family reasons. The most recent ones posted had at least a 20% down payment according to newenglandgal so the buyers are responsible. And this thread has a very narrow viewpoint, people like to only post homes that they think are way overpriced. No one is posting homes that sell for reasonable amounts so there's a lot of bias here.

The lenders have been pretty strict with handing out mortgages since 2008. When we bought, we had to submit document after document to prove we could afford it. Not sure how anyone can buy a house without being qualified these days.

So why do I keep seeing that banks are allowing a DTI of 42%. That is NOT reasonable or safe.

[redplum33]

Originally Posted by redplum33

This thread is for posting real estate observations (see thread title). If you disagree with an observation, state why. But it's not your place to tell others which observations they can or cannot post.

Originally Posted by jayrandom

There’s a difference between worrying about the obesity epidemic and posting pictures of specific fat people and saying “boy, I’d never let myself get that disgusting”. This thread has recently veered so far into that the latter that it’s become hard not to say something.

Not really a fair analogy. It wouldn't be appropriate to single out specific fat people and make derogatory comments.

We're talking about houses. Houses that some people think the buyer paid too much for.

[matrix5k]

Originally Posted by massnative71

So why do I keep seeing that banks are allowing a DTI of 42%. That is NOT reasonable or safe.

What percentage of buyers have 42% DTI?

[msRB311]

There are plenty of people who also choosing not to spend 100k over asking on homes. I know folks who wanted to move post 2020 and they said forget it decided to stay put after seeing what they'd be paying.