I'm priced out of the housing market forever

[FrankGrimesJr]

because housing prices keep going up and there is no end in sight.

I'm kicking myself for not buying a house in 2011/2012. I could have bought a nice house for $400k and live comfortably. But now a nice house is around $1 million dollars.

[caravanbrah]

Just buy in a worse area. There's lots of other people in your position who will do the same and the area will become nicer.

[DrFrasierCrane]

Location, Location, Location

[Poonti]

should have, could have, would have.

what would you have done if you bought the house for 400k and the housing market crashed a year later?

[FrankGrimesJr]

should have, could have, would have.

what would you have done if you bought the house for 400k and the housing market crashed a year later?

I would still be ok.

Now If I bought a million house and the market crashed I would be in trouble. But then again it doesn't look like the market will crash.

[BullStampede]

Invest in crappier areas. It will take longer, but gentrification will find it eventually thankfully.

[BrotienShake]

My family bought the house back in like 2005 for around 170k and now with Nike getting bigger and new cookie cutter no backyard homes being built some of the older style homes on like .25 acres like mine around my neighborhood are asking for like 350k+

[JUGGERNAUT1333]

Da fuk do you people live where 400k doesn't get you a nice house?

400k in my area gets you a Mansion.

[donblaximus]

Da fuk do you people live where 400k doesn't get you a nice house?

400k in my area gets you a Mansion.

Do you really not understand that location drives prices? For the most part, the piece of land the house sits on is the main cost (in desirable areas)
The house is an after thought.

[FrankGrimesJr]

If I were to buy in a bad area right now in San Francisco, I can only afford the Bayview and Visitacion valley area. I don't think those areas will gentrify quickly.

In the Mission District with all of the Google and ******** workers gentrifying the area, it's still full of crime.

[Rdubbb]

bought a house in the recession crew
getting a valuation on friday and hoping for good news crew

[arn710]

Bide your time

The bottom will drop out again as soon as interest rates start climbing

[FrankGrimesJr]

Da fuk do you people live where 400k doesn't get you a nice house?

400k in my area gets you a Mansion.

San Francisco

[streetlethaleg6]

nyc bruh checking in, i know the feel way too well fml...

[JUGGERNAUT1333]

Do you really not understand that location drives prices? For the most part, the piece of land the house sits on is the main cost (in desirable areas)
The house is an after thought.

That's why I'm asking where the hell you people live. 400k even in nicer areas in my state and surrounding areas is plenty of cash. I imagine places like Beverly Hills, LA, ect

[JUGGERNAUT1333]

San Francisco

Makes sense now, example of what 400k gets you in SF? Just curious.

[EnforcerOTF]

the bubble will burst in a few years

[donblaximus]

That's why I'm asking where the hell you people live. 400k even in nicer areas in my state and surrounding areas is plenty of cash. I imagine places like Beverly Hills, LA, ect

Most big cities will always have a part of town that have a $500K+ per house to get a shack.
Even cities that are notorious for lowest cost of living like cities in Texas.

In manhattan you can barely sniff a parking spot in a parking garage for $400k nevermind a house.

[GEToutHOEits6AM]

lol I'm in the same boat, live in the GTA (toronto) crew and it's a joke. I don't even understand how it can be so high. I have tons of friends in their late 20s early 30s still living at home. I'm hoping the market crashes soon so I can move out. I have a bunch of money saved up but scared to buy because the market seems so over valued.. Probably better off renting and investing your money in stocks instead of the housing market...

[PatheticPeter]

feels through the angus.

put an offer on a house (put a bid 15% below asking because it was a short sale)....wait 60 days....bank comes back with a 25% counter OVER LIST just because they can. 60 days of life gone.


next house, put in a full price bid....find out it's 30k below what the owner owes (you w8 m8)....i only gave them til today or i'm looking elsewhere.

tfw i have to put in a bid over list for a 600k house that will suck the soul out of me. tfw don't want kids to go to a "diverse" school and have to fork up out the azz.

[JUGGERNAUT1333]

Most big cities will always have a part of town that have a $500K+ per house to get a shack.
Even cities that are notorious for lowest cost of living like cities in Texas.

That's insane. Couldn't imagine paying 500k for a home and being considering "poverty"

[FrontDoublePie]

I bought in the trough in 2011. Had a pool built last year and still have tons of equity. Feelsgoodman. Like said before, settle for a worse area. Others will do the same and raise areas value.

[PatheticPeter]

That's insane. Couldn't imagine paying 500k for a home and being considering "poverty"

if i showed you what i'm willing to pay 600 for, you would lel to death.

[havoc00]

Tons of foreclosures in NJ are killing the prices here atleast in this county

[FrankGrimesJr]

Makes sense now, example of what 400k gets you in SF? Just curious.

Pretty much nothing now.

Here is a house in the ghetto for $629k

https://www.redfin.com/CA/San-Franci...4/home/1463776

[JUGGERNAUT1333]

if i showed you what i'm willing to pay 600 for, you would lel to death.

Many feels for you brah. That sucks. Are salaries in your area at least high enough to compensate for the high cost of living? Or is everyone except the wealthy chit out of luck.

[JUGGERNAUT1333]

Pretty much nothing now.

Here is a house in the ghetto for $629k

https://www.redfin.com/CA/San-Franci...4/home/1463776

oh my fukin God.....brah, feels for you. I'm speechless at that.

[FrankGrimesJr]

the bubble will burst in a few years

I don't know what will burst this bubble. It's not like there are tons of bad loans like before.

If the interest rate goes up, it doesn't seem like that will make a significant change.

[donblaximus]

That's insane. Couldn't imagine paying 500k for a home and being considering "poverty"

I have a home in austin that I could probably sell for $750k right now.
It was built in 1940 and about 1200 square feet. The foundation is pier and beam and there is literally some cedar stumps serving as some of its foundation.

Its a rental until I decide to knock it down, build a mcMansion on it and sell it for a profit.
Its all about land value.

[FrankGrimesJr]

oh my fukin God.....brah, feels for you. I'm speechless at that.

I heard Google workers here with $200k salaries are even having a hard time to afford a house. They are moving to areas like Seattle with almost similar pay with way cheaper housing.