2023 Real Estate Observations (consumer, time, financial)

[massnative71]

Originally Posted by matrix5k

It's like you are here to complain about prices and spread fear about a crash that will likely not happen. Sorry but prices aren't going to come down significantly anytime soon whether you like it or not.

Very naive, son.

[msRB311]

Originally Posted by UNC4Me

What I don’t get is why so many posters are so personally affronted/upset/annoyed by how other people choose to spend their money. I couldn’t care less what anyone paid for their home. Or why they paid what they did. It’s literally none of my business or concern.

well others feel differently. The fact that others pay 100k over asking on homes has set a precedent and this has become the norm. This did not happen often before 2020. It's a new thing. Most don't stick their head in the sand over things like this. They effect any prospective home buyer.

[UNC4Me]

Originally Posted by massnative71

New Corvette Z06s are going for around $110K right now and often going above MSRP. I can afford it. Should I buy it?

Up to you. Your money and your choice. It’s as simple as that.

[matrix5k]

Originally Posted by massnative71

New Corvette Z06s are going for around $110K right now and often going above MSRP. I can afford it. Should I buy it?

If you can afford it and it makes you happy, sure go for it. Who am I to tell you how to spend your money? I honestly don't care how you spend your money. Plenty of people buy cars more expensive than that.

[massnative71]

Originally Posted by newenglandgal123

You forgot one....3. Insanity.

I said "justify" (does not include non sane reasons like FOMO).

[matrix5k]

Originally Posted by msRB311

well others feel differently. The fact that others pay 100k over asking on homes has set a precedent and this has become the norm. This did not happen often before 2020. It's a new thing. Most don't stick their head in the sand over things like this. They effect any prospective home buyer.

Homes have sold for far more than asking for decades. It's nothing new.

[UNC4Me]

Originally Posted by msRB311

well others feel differently. The fact that others pay 100k over asking on homes has set a precedent and this has become the norm. This did not happen often before 2020. It's a new thing. Most don't stick their head in the sand over things like this. They effect any prospective home buyer.

Sellers markets don’t last forever. The super low inventory of the last few years won’t last forever. Just like the 16% interest rates in the early 80s and the buyers market in 2008-2010, this too shall pass. You’re looking at a specific outcome in SOME markets during the last 2-3 years and conflating it into something that will go on forever.

[msRB311]

I dont see how some of you dont get it...when someone pays 100k over asking for real estate it sets a tone. The person living next door to them then might go, oh wow, now i want to sell my home for that amount too and I can because my next door neighbor did. It's a domino effect.

Anyone who is happy about the prices in MA is either a real estate developer, someone who flips homes or someone who is happy to see other suffer who can't afford these prices. It actually kind of sickens me that people are even even defending the fact that 1M homes are going for 100k over asking in many different parts of the country. Not the kind of US I feel good about when so many others are barely getting by. A case of the haves and have not. But again, glad you're happy about it or wonder why anyone else cares.

[matrix5k]

Originally Posted by msRB311

I dont see how some of you dont get it...when someone pays 100k over asking for real estate it sets a tone. The person living next door to them then might go, oh wow, now i want to sell my home for that amount too and I can because my next door neighbor did. It's a domino effect.

Anyone who is happy about the prices in MA is either a real estate developer, someone who flips homes or someone who is happy to see other suffer who can't afford these prices. It actually kind of sickens me that people are even even defending the fact that 1M homes are going for 100k over asking in many different parts of the country. Not the kind of US I feel good about when so many others are barely getting by. A case of the haves and have not. But again, glad you're happy about it or wonder why anyone else cares.

I don't see why you keep mentioning 100k over asking. Once again, asking price is irrelevant.

[massnative71]

Originally Posted by UNC4Me

Up to you. Your money and your choice. It’s as simple as that.

Originally Posted by matrix5k

If you can afford it and it makes you happy, sure go for it. Who am I to tell you how to spend your money? I honestly don't care how you spend your money. Plenty of people buy cars more expensive than that.

Let's try again. It's obviously a very stupid way for me to spend my hard earned money and it will force me to make sacrifices in other areas. If I ever fly off the handle like that, I would hope a good friend or somebody talks me out of it. People should also expect sound advice to be given on a "quality" discussion board such as this one, and unwise/harmful behavior ought not be encouraged. It's also the responsibility of others to call out bad advice given here.