Real estate really has gotten out of hand. My experience

[coast2coastam]

That has to be the greatest percentage increase I've seen yet. Wtf!

If you stayed there through airbnb maybe that's the only way it would work. $400k mortgage is like $3k/month with taxes and utilities. If salaries in that area aren't at that level, nobody could really afford to live there.

Either that or a couple rents it out at $1500/each.

No one that already lives around there could ever afford to buy their own house at current prices, even at a third of current prices. It's a low income area. It's insane.

There were so many airbnb options in that area, they've got a lot of competition. I looked up the owner and it's a larger company that owns homes all over the place.

They tried to bail out last year for $465k, but it didn't sell. I do wonder how well it rents on airbnb. What I payed for 2 weeks, if you multipled it by 2 it wouldn't cover their mortgage based on what they payed for it.

All of SW Florida is like this.

[crupiea]

The common sense approach is if an area has expensive houses, you moved to someplace cheaper.

Plenty of affordable home in Texas, just not in the big popular areas.

I have lived in San Di9ego for years. They are renovating my place soon and I have to move. Prices are super high around here so i am moving to a small town in Arizona. I would prefer to stay here but its simply not worth it.

[guest89]

As mentioned previously housing in America is still a lot cheaper then a lot of other places. From what I've seen buying places in Canada, Australia, the UK, etc. are way more unaffordable.


I built my house 9 years ago. Started looking hard at real estate about 11-12 years ago. And even then Miscers were complaining the price of housing was over-inflated. We were in a bubble. There would be a real estate crash. Etc. The cold hard truth is they will keep building houses in those price ranges. And people will keep buying in those price ranges.


There may be minor corrections/fluctuations in certain areas. But its delusional to believe that the real estate market across America is suddenly going to collapse by a measurable amount. Unless interest rates hit 10-12 percent I really doubt there will be much of a correction. And I really doubt interest rates hit 10-12%.





Also I want to say I know lots of younger people in their 20s that are buying houses right now. Nobody really gives a **** about interest rates or projections about what the markets will or wont do. The only thing they care about is if they can make the monthly payment on the house they want. (srs). I think the majority of home buyers don't care about anything other then if they can afford their projected monthly mortgage. We are currently in an era where young people have been brainwashed for years into just paying their monthly payment without giving a **** about interest rates or total amounts paid.


While miscers are over analyzing everything. Normal people are going ahead and buying homes. And fast forward 5-10 years later and the markets have progressed and miscers are still over-analyzing everything as they pay rent month after month, year after year.

[ParsleyTea]

There is a housing shortage of around 1 million homes. Most of the shortage has been happening in blue states. It has been brought about due to home building regulations, which make it more difficult to construct a home and makes a home more costly to buy. And then you have many people moving from blue states to red states. More homes are being made in red states in general but they don't always keep up with demand.

They are posting articles frequently on the housing shortage leading to higher home prices on financial sights. One article I saw from today ~


Redfin CEO: How to fix America’s housing shortage
Inventory slightly rose in recent weeks, but it hasn't dampened home prices, Redfin reported

https://www.foxbusiness.com/lifestyl...using-shortage

[RocknRollMuscle]

if u own a home, yo uwant prices to increase.

people will buy and either rent - or remortgage when rates fall AND house prices skyrocket.

You need to learn how RE works. Yes it's $800k, but in a few months when rates drop and it goes to $950k, boom you made $150k even with high mortgage payments for a bit.

[baldbrah]

This is the direct result of giving burger flippers $20/hr and paying off all the irresponsible single moms student loans.

Congrats!

[Anachron]

The US and Canada need to continue bringing in more and more people to deal with our aging populations, and the US is currently forecasted to exhaust its social security trust fund by the early 2030s

Buy a home now while you can, because outside of the craziest market swings they likely aren’t getting cheaper

Mind = blown that there is a housing crisis in beaverland...

Can't beavercels just build extra igloos themselves?

[Destor]

Mind = blown that there is a housing crisis in beaverland...

Can't beavercels just build extra igloos themselves?

The problem is needing to rebuild them after every summer, it’s always 2 skates forward and 1 skate back