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Old 06-19-2023, 12:30 PM
 
16,395 posts, read 8,187,139 times
Reputation: 11378

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Quote:
Originally Posted by matrix5k View Post
To the market.
to what people are forced to do if they want to buy a house.
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Old 06-19-2023, 12:31 PM
 
23,561 posts, read 18,707,417 times
Reputation: 10824
Quote:
Originally Posted by UNC4Me View Post
Please submit all your financial info so we can make an informed decision about your car purchase. You said in your post you could afford it, but now you’re saying you’d have to sacrifice. What? Food or investing or paying other bills

Less savings cushion. Less fun. Fewer vacations. Less generosity. Less ability to buy future home. Etc..
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Old 06-19-2023, 12:34 PM
 
11,411 posts, read 7,806,429 times
Reputation: 21923
Quote:
Originally Posted by matrix5k View Post
Exactly!! She paid twice the amount her home was worth in 2010. According to her that's not right and set the tone for others to suffer and she is a bad person for doing so.
Yep. I’m a bad person too. I sold my house purchased in 2022 for triple what I paid in 2009. Thus setting a new record high in my neighborhood. I also paid over ask on my current home so I’m double bad. Oh wait, triple since I rehabbed it making it even MORE expensive for a future buyer. How many Mea Culpas for all that?
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Old 06-19-2023, 12:34 PM
 
2,710 posts, read 1,733,872 times
Reputation: 1319
Quote:
Originally Posted by massnative71 View Post
Poor comprehension. Because I can afford something doesn't mean I should buy it.
You said you had to make sacrifices so it sounds like you can't afford it. If you don't need to make sacrifices and it makes you happy then go ahead and buy it.
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Old 06-19-2023, 12:34 PM
 
16,395 posts, read 8,187,139 times
Reputation: 11378
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Quote:
Originally Posted by matrix5k View Post
Exactly!! She paid twice the amount her home was worth in 2010. According to her that's not right and set the tone for others to suffer and she is a bad person for doing so.
Everyone knows that as years go on the price of real estate goes up (or it should). If you don't think the change in prices from 2020-2021 was astounding then you are trolling here. Of course a house will cost more in 2020 than it did in 2010.

again, it's great that you think the current state of real estate here in MA is so wonderful and worth it. That's the beauty of the world- not everyone agrees with you. We could debate and go back and forth on this all day.
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Old 06-19-2023, 12:36 PM
 
16,395 posts, read 8,187,139 times
Reputation: 11378
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Quote:
Originally Posted by matrix5k View Post
You said you had to make sacrifices so it sounds like you can't afford it. If you don't need to make sacrifices and it makes you happy then go ahead and buy it.
that's just it. Someone who paid 100k over asking on a house likely made some sacrifices too. Maybe they should have put that money in their 401k or saved it for their kids college fund. Instead they threw it into a house.
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Old 06-19-2023, 12:36 PM
 
11,411 posts, read 7,806,429 times
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Quote:
Originally Posted by msRB311 View Post
scratching my head here. In 2020 we got our current home for slightly under the asking price (about 7k less). We didn't need to offer 100k over asking for it thank god. A year later the house next door which is exactly like ours was listed for 999,999 and the buyers bought it for 1,100,000. We would never have paid that...but those people did. Whether or not they had more money than us isn't really the point. The point is they got a bad deal thanks to whatever the heck happened in 2020/21 with housing going crazy in this area. To me it's a bad deal to pay that much more a year later. Maybe that's a negative way to look at it, but it's true.

The home next to us is newly built and sold for over a million in 2019. It isn't big, wasn't on a very big plot of land and lots of people in the neighborhood thought it was nuts that someone paid that price. They also balked at the home next to us and what it sold for. So it's not just people here on this forum questioning what people will pay for real estate. It's many people.
And what are these homes worth NOW? More or less than they were purchased for in 2019 and 2021? If it’s more, doesn’t seem like the “bad” deal you’re claiming.
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Old 06-19-2023, 12:38 PM
 
2,710 posts, read 1,733,872 times
Reputation: 1319
Quote:
Originally Posted by msRB311 View Post
Everyone knows that as years go on the price of real estate goes up (or it should). If you don't think the change in prices from 2020-2021 was astounding then you are trolling here. Of course a house will cost more in 2020 than it did in 2010.

again, it's great that you think the current state of real estate here in MA is so wonderful and worth it. That's the beauty of the world- not everyone agrees with you. We could debate and go back and forth on this all day.
I never said it wasn't astounding or that I think it's wonderful. All I said was that it is market rate.
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Old 06-19-2023, 12:38 PM
 
11,411 posts, read 7,806,429 times
Reputation: 21923
Quote:
Originally Posted by massnative71 View Post
Less savings cushion. Less fun. Fewer vacations. Less generosity. Less ability to buy future home. Etc..
Then maybe you can’t afford it based on the downsides. But someone who makes a lot more than you probably can with no downsides. That’s why any advice anyone get here is useless. The poster is replying through their personal financial lens and their personal beliefs. Neither has a thing to do with the viability of a purchase for another.
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Old 06-19-2023, 12:40 PM
 
2,710 posts, read 1,733,872 times
Reputation: 1319
Quote:
Originally Posted by msRB311 View Post
that's just it. Someone who paid 100k over asking on a house likely made some sacrifices too. Maybe they should have put that money in their 401k or saved it for their kids college fund. Instead they threw it into a house.
How do you know everyone's financial situation? What if I told you some people already max their 401k and 529 and can also afford a home?
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