Every market period cycles. This one will as well. In the early 1990s it was unbelievable that the market would ever go down. It did. In 2006/7 same idea. Everything's great. Average guy had no idea what was going on in the financial world. Then boom it was over. Same today, we don't know exactly what will cause the boom to end but something will or a combination of things will occur to cause a crash. Here where I live is all it takes to start the domino effect is something that stops or slows new construction and the perception that it will get even slower.
Every market period cycles. This one will as well. In the early 1990s it was unbelievable that the market would ever go down. It did. In 2006/7 same idea. Everything's great. Average guy had no idea what was going on in the financial world. Then boom it was over. Same today, we don't know exactly what will cause the boom to end but something will or a combination of things will occur to cause a crash. Here where I live is all it takes to start the domino effect is something that stops or slows new construction and the perception that it will get even slower.
With all due respect... I disagree... in the 1990s, 2006/7 et al... there was still capacity... land and/or natural resources, work, ethics, invention... were wide open to support growth. (i.e. we were GROWING the "Fatted calf").
America is now in a contraction phase... absurd regulations, insane taxes (@ Socialism levels), people actually WANT HOAs... Folks are selling 2 centuries of prosperity... and EATING the "Fatted calf".
This very thread is about $100k/acre land, $300+ SF construction etc.
There is no exit from this... that I can see.
As always... I am open to differing opinions.
If you are not actively engaging EVERY enemy you encounter... you are allowing another to fight for you... and that is cowardice... plain and simple.
HOA's been around since the 50's and took off in the 60's - they're not new. People been "wanting" them for 80 years. I don't take that as an indicator of collapse.
Every market period cycles. This one will as well. In the early 1990s it was unbelievable that the market would ever go down. It did. In 2006/7 same idea. Everything's great. Average guy had no idea what was going on in the financial world. Then boom it was over. Same today, we don't know exactly what will cause the boom to end but something will or a combination of things will occur to cause a crash. Here where I live is all it takes to start the domino effect is something that stops or slows new construction and the perception that it will get even slower.
With all due respect... I disagree... in the 1990s, 2006/7 et al... there was still capacity... land and/or natural resources, work, ethics, invention... were wide open to support growth. (i.e. we were GROWING the "Fatted calf").
America is now in a contraction phase... absurd regulations, insane taxes (@ Socialism levels), people actually WANT HOAs... Folks are selling 2 centuries of prosperity... and EATING the "Fatted calf".
This very thread is about $100k/acre land, $300+ SF construction etc.
There is no exit from this... that I can see.
As always... I am open to differing opinions.
$100k an acre...pssh. Look up Cedar Hills, Highland, or Alpine Utah on Realtor. .25 acre building lots are $800k+
No slowdown in Northeast Ga - I am 50 miles away from ATL and they are building 500k townhouses here at the moment. There simply is no inventory and even with rates approaching 6% folks from New England and even the left coast are coming in and paying 50k to 150k over list price. We had a house on my street that sold for 250k over listing price, granted it was underpriced but still...
I think a lot has to do with so many people not going back to the office. Many in my company are working from home, and it in all likely hood will become permanent. Home could be anywhere they want it to be. I'm thinking no travel to and from work saves a bunch for a lot of people. That in turn allows them to spend more on housing. They can move out of a crap hole, and move themselves to a better place/neighborhood. Of course, that also allows them to turn the new local into the old local.
Clyde
The liberal mind is an endless black hole of stupidity.
I think a lot has to do with so many people not going back to the office. Many in my company are working from home, and it in all likely hood will become permanent. Home could be anywhere they want it to be. I'm thinking no travel to and from work saves a bunch for a lot of people. That in turn allows them to spend more on housing. They can move out of a crap hole, and move themselves to a better place/neighborhood. Of course, that also allows them to turn the new local into the old local.
Clyde
Agree but that will be a cycle too. People will learn that there are VERY real downsides with WFH. And while "home can be anywhere" works for some places - a hybrid where you'll still need to travel then to see clients or the home office often means you have to be within XX miles of an "international airport with direct flights to XXX" - as a condition of employment too.
I was blabbin' about it a couple weeks back but we took the plunge and bought another house. 3 bedroom, full finished basement, 40 year old house just down the street from us.
Nothing fancy but appears to be a solid house on the best street in our dirty little town. Got it for $95/sq ft which I don't think is a terrible investment. Not a money maker deal, just a way to unload half of our small savings account and get something other than a number on a screen. And it will benefit family who REALLY want to live in town......lol
Save money for 10 years and then watch it lose what, 10-15% of it's value? Kinda pissed me off but that's the way it goes.
I'd have rather bought land but it's hard to find and we're behind as it is taking caring of 'our'(my parent's) little farm. For some reason a good house appeared to be an okay saving account.
20 year loan but we plan on paying it off in 10. Gonna be around 5.5% fixed for the first 10 and then goes variable which is a good reason to focus and knock it down quick.
I was blabbin' about it a couple weeks back but we took the plunge and bought another house. 3 bedroom, full finished basement, 40 year old house just down the street from us.
Nothing fancy but appears to be a solid house on the best street in our dirty little town. Got it for $95/sq ft which I don't think is a terrible investment. Not a money maker deal, just a way to unload half of our small savings account and get something other than a number on a screen. And it will benefit family who REALLY want to live in town......lol
Save money for 10 years and then watch it lose what, 10-15% of it's value? Kinda pissed me off but that's the way it goes.
I'd have rather bought land but it's hard to find and we're behind as it is taking caring of 'our'(my parent's) little farm. For some reason a good house appeared to be an okay saving account.
20 year loan but we plan on paying it off in 10. Gonna be around 5.5% fixed for the first 10 and then goes variable which is a good reason to focus and knock it down quick.
Friend of ours moved to Houston, was selling their house. It has a first floor master so we considered buying it.
I was thinking it was worth about whatever, Zillow said it was worth about 100K more which already made me decide to pass, then owner told my wife they were hoping to get 150K more than what zillow says it worth.
I'm thinking about buying a home as an investment but I have alot to learn before I take that plunge
have you paid your dues, can you moan the blues, can you bend them guitar strings
Buying an apartment is an important step that should be taken responsibly. There are many things to think about and consider before you buy. Consider your preferences: which area is more comfortable, are transportation hubs important, the desired floor, the number of rooms, etc. Analyze your financial capabilities. Despite the reduction in prices, I have to work hard to provide myself with an apartment, and there is no time to analyze the market. Therefore, my girlfriend decided to use the advice onstage-online.com. You need to find professionals who can competently explain the decrease in prices and whether it is not cheating.
WTF?
If you are not actively engaging EVERY enemy you encounter... you are allowing another to fight for you... and that is cowardice... plain and simple.
