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Status:
"Senior Conspiracy Debunker"
(set 25 days ago)
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Quote:
Originally Posted by middle-aged mom
My parents were depression era kids. Both came from families that lost their homes due to foreclosure. Both were ownership adverse their entire adult lives. We moved nearly every single year due to rent increases. At the end of their days, they had shoe boxes with cancelled rent checks and receipts. Each could have had a paid off home
They lived their life as they saw fit to do. It often seemed as though they rooted for another Great Depression to validate their fears.
Yep, people love to validate their fears. That's what we are seeing in this thread. Those that wish for the bubble to pop are those that have mentally blocked themselves from buying a home all their lives. They are always waiting for some element of financial ruin in the market. They will use this excuse to blame everything except themselves as to why they can't own a home. It's a self defeating mindset.
Yep, people love to validate their fears. That's what we are seeing in this thread. Those that wish for the bubble to pop are those that have mentally blocked themselves from buying a home all their lives. They are always waiting for some element of financial ruin in the market. They will use this excuse to blame everything except themselves as to why they can't own a home. It's a self defeating mindset.
I know people like this. House prices historically appreciate 4.65% a year, there might be a once in 50 year depression, however its not likely to happen anytime soon.
Yep, people love to validate their fears. That's what we are seeing in this thread. Those that wish for the bubble to pop are those that have mentally blocked themselves from buying a home all their lives. They are always waiting for some element of financial ruin in the market. They will use this excuse to blame everything except themselves as to why they can't own a home. It's a self defeating mindset.
Maybe because it is not a good thing to go into debt slavery for homes costing $1 million+ dollars that only cost that much due to out-of-control money printing, negative interest rates, immigration, etc.?
Yep, people love to validate their fears. That's what we are seeing in this thread. Those that wish for the bubble to pop are those that have mentally blocked themselves from buying a home all their lives. They are always waiting for some element of financial ruin in the market. They will use this excuse to blame everything except themselves as to why they can't own a home. It's a self defeating mindset.
The cyclical nature of markets suggests a crash is always inevitable, wouldn't it be prudent to wait for that crash if you wanted the best bang for your buck? Perhaps people don't want to pay $400,00 for a 2/1 house in Florida? Is it a self-defeating mindset or is it a realistic mindset? Why put yourself in more debt now, when you could pay half in a few years time?
In this part of New England there are very few jobs, and home prices are low. Every week Zillow sends me home prices, so every week I am seeing 2bdrm homes asking $40k to $60k.
Sure some of them are dumps. Did you really think you were getting a mansion for $40k?
In this part of New England there are very few jobs, and home prices are low. Every week Zillow sends me home prices, so every week I am seeing 2bdrm homes asking $40k to $60k.
Sure some of them are dumps. Did you really think you were getting a mansion for $40k?
House prices rise very quickly once you get south of Bangor, especially the last few years. North of Bangor remains economically depressed with far less outside money influencing local real estate markets.
I know people like this. House prices historically appreciate 4.65% a year, there might be a once in 50 year depression, however its not likely to happen anytime soon.
The average and median sale prices increased 41.4% and 38.2% (respectively) in my county from Dec/2020 to Dec/2021, and the related figures are already quite out of date two months into 2022.
House prices rise very quickly once you get south of Bangor, especially the last few years. North of Bangor remains economically depressed with far less outside money influencing local real estate markets.
My Zillow searches only monitor homes in Penobscot County [Bangor's county].
Before I retired, whenever I sent out resumes job offers I saw were always offering higher wages in High COL cities, and lower wages in low COL areas.
It makes sense to me that any area with few jobs and low COL will likewise have lower priced homes.
Yes, but relative to the stock bubble? No way. Real estate is up about 3-5x over the last 35 years depending on the location / intensity of the bubble. Stocks are up 17x. To be remotely aligned with every other aspect of the economy, the Dow should be around 7,000-12,000 right now.
I get it, people are holding stocks as an inflation hedge because unlike fiat money it's a finite asset. They're unlikely to suffer much in nominal-price terms, but in real/inflation-adjusted terms are likely to take a big hit over time.
We decided to put an offer in on a house after 15 years of renting. We are using VA on a new construction , 400k home. Our payments will be 500 dollar more a month than what we pay now in rent which we can easily afford. Our interest rate is 3.2%. We decided to buy now while rates are still low.
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