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Old 05-20-2024, 02:02 PM
675 posts, read 524,764 times
Reputation: 549


Originally Posted by Jackie2008 View Post
Where I moved to almost four years ago is a hot market. Me and everyone else were looking for better career opportunities. I am at a lower price point than you, earning below $100,000, and I cannot afford a 1,000-1,400 square foot house that is now considered a "starter home." at prices hovering around $300,000. I have been renting. But, my realtor says, prices are going to keep going up, buy before you can't. Yeah, they probably will, but what I could afford now is either dumpy, in a bad location or a big fixer-upper or a townhouse that has a large HOA. I am not a fan of townhouses, so, no thanks anyway. If the interest rates would drop just a bit, I could afford what I would like to have. But, the CPI wasn't all that great today, so I will keep renting, even though I miss having a house (sold mine in 2020). Kids screaming a 11 pm, pot smoking coming through the walls, hearing the bass from a car stereo and apartment management that changed last September, and not for the better (now charging an extra $15 a month for garbage because of lower occupancy), has worn pretty thin.
Of course your realtor is going to tell you to buy while you can. There are certain fundamentals in the economy that are pointing to a dire situation. One is all time high credit card debt. People cannot afford the prices they're being dupped into buying today and pretty soon we'll realize it and stop spending. This should hopefully drive prices down where we can lower interest rates. At that point, lots of homes will come on the market from people who can't sell today.

it's all speculation but we simply cannot keep spending like we are, so we will have to drive demand down. Hopefully our government will keep their dirty hands off the economy and stop messing with it aka artificially propping it up. Our economy is now politicize and that's a very dangerous place to be.
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Old Today, 08:23 AM
Location: Kronenwetter Wisconsin
924 posts, read 676,600 times
Reputation: 2037
Our daughter is buying our house next year. We will rent. Found a nice apartment in a 55 and older. Two bedrooms 2 baths. Rent includes utilities. Building is 1 year old.
When we factor what we pay in utilities-taxes-maintenance-renting will cost us about $200-$300 more a month. Hubby is ready to be done mowing a couple of acres, snow blowing and everything else that comes with owning a home. We are ready to travel more.
No interest in a condo. Where we live there really aren't many that we would even consider.
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