Any new small (1,200 sq ft or less) single level homes for $140,000 or under available in San Antonio? (affordable apartment, renter)

[Azure110]

I am out. Have fun playing with the data.

[rynetwo]

Originally Posted by Azure110

I am out. Have fun playing with the data.

Lol.

I'm good. I'm not the one trying to buy something that does not exist.

[Proffer]

Txbullfan, do not buy into this market. The area did not experience huge price decreases in 2008 because the Fed's interest rate manipulation brought mortgage rates down to half of their historical average. This allowed people to afford twice as much house for the money (and you have seen that reflected in a near doubling of home prices). Looky what the Fed is doing now. The resulting price declines will not only directly affect locals who try to sell here, but they will also affect people all over the country who will soon have less equity to cash out and bring to our market. Ignore human psychology's tendency toward optimism in this case (being the idea that there is a free lunch in the form of a doubling of your home's value in a few years). These price gains are in reality a complete chimera, and will go whence they came! From thin air, and back into the ether. Just hit your local HEB, buy some popcorn, sit back, and wait for the show to begin.

[cobolt]

Originally Posted by Proffer

Txbullfan, do not buy into this market. The area did not experience huge price decreases in 2008 because the Fed's interest rate manipulation brought mortgage rates down to half of their historical average. This allowed people to afford twice as much house for the money (and you have seen that reflected in a near doubling of home prices). Looky what the Fed is doing now. The resulting price declines will not only directly affect locals who try to sell here, but they will also affect people all over the country who will soon have less equity to cash out and bring to our market. Ignore human psychology's tendency toward optimism in this case (being the idea that there is a free lunch in the form of a doubling of your home's value in a few years). These price gains are in reality a complete chimera, and will go whence they came! From thin air, and back into the ether. Just hit your local HEB, buy some popcorn, sit back, and wait for the show to begin.

So you don’t think the market growth and prices are representative of area growth? You think this is a bubble?

[txbullsfan]

Originally Posted by Proffer

Txbullfan, do not buy into this market. The area did not experience huge price decreases in 2008 because the Fed's interest rate manipulation brought mortgage rates down to half of their historical average. This allowed people to afford twice as much house for the money (and you have seen that reflected in a near doubling of home prices). Looky what the Fed is doing now. The resulting price declines will not only directly affect locals who try to sell here, but they will also affect people all over the country who will soon have less equity to cash out and bring to our market. Ignore human psychology's tendency toward optimism in this case (being the idea that there is a free lunch in the form of a doubling of your home's value in a few years). These price gains are in reality a complete chimera, and will go whence they came! From thin air, and back into the ether. Just hit your local HEB, buy some popcorn, sit back, and wait for the show to begin.

Well, I would like to buy, I really would. As a local first time home buyer, this SA market is absolutely terrible for both new and used homes (the competition, the price, the availability) compared to times past. Even used home prices are absolutely insane for the house and neighborhood one gets. SA used to be an incredibly affordable market, even with the low wages people here generally have gotten. Unfortunately, I don't think it will improve soon. People will continue to bring their money and move here in large numbers as SA has a lot to offer (jobs, culture, entertainment etc.).

[Proffer]

Txbullsfan, Yes, people will continue to bring money here, until such time as they can no longer cash out of the more expensive markets with a sizable profit. I guess that works to some degree as long as the same people who own their homes outright are simply trading homes with one another. However, how many people with mortgages at low rates are going to sell and buy even a cheaper house with a much higher interest rate? The benefit cancels out for many. As an aside, it is better to buy at a lower price with a high interest rate, than it is to buy at a high price with a low interest rate, as once you are locked in, your price can never change. And yes, this is definitely a "bubble," not just in housing, but stocks, bonds, and everything else. It should all be collapsing together. If only one knew when.

[txbullsfan]

Still looking

[resonator]

It's only been 5 weeks. Good searching to you !

[bat1]

RV sales are way up and I wonder why? Much cheaper then a home no crazy property Taxes too!

[Pancho-Villa]

You shouldn't have to "wonder" if you already know the answer, eh?