I got lucky as hell with that homebuyer credit (bought my first house in 09). Think they'd need to do something similar that helps people with the initial down payment. People are already paying $2K a month for apartments. A mortgage won't be much more than that, but it's that down payment representing the biggest hurdle in buying (along with getting approved for a loan obviously). One thing that helps is it's become much more normalized for kids to remain in their parents homes into their 20s, early 30s. The stigma isn't there (imagine trying to date a girl and telling her you live in your parents' house back in the early 2000s). Makes it somewhat easier to build your savings even if you aren't making a great salary/hourly rate.
When Will Houses Go Back To Fukkin Normal Prices????
- Thread starter Prince.Skeletor
- Start date
When investors aren't allowed to buy them. It's ridiculous it's even allowed. But this is what greed does
It’s a wrap
It could stabilize, but if trump get in office in November , look for more outlandish prices
Many people not selling their homes cause they can’t afford for another one at this time
It could stabilize, but if trump get in office in November , look for more outlandish prices
Many people not selling their homes cause they can’t afford for another one at this time
Prince.Skeletor
Don’t Be Like He-Man
Only shytboxes or condos
Only way they are coming down to “normal” prices is a recession or something similar to the GFC. The political system in this country deems it unacceptable for any market corrections even though in a capitalist system recessions are a normal thing.
The money supply growth has been massive over the last 3 years and interest rates should have started increasing back in 2016. Mortgages rates being historically low for so long is one of the things that’s lead us to the stagnation we’re at now.
The money supply growth has been massive over the last 3 years and interest rates should have started increasing back in 2016. Mortgages rates being historically low for so long is one of the things that’s lead us to the stagnation we’re at now.
This x100. If you own a house right now, that's your singular biggest asset. Most of your net worth is tied to your home. If your house has appreciated 3-4x the amount from when you originally purchased it, then it's both a gift and a curse. It's a gift that you have something that has made you technically wealthy ( or close to it), it's also a curse, because now you most likely can't put your house on the market, if you want to sell your house and purchase a new house. You are probably tied to that house now, as long as interest rates stay high. There's literally no incentive to sell your house at the moment, because its a seller's market. Since it's a seller's market, you're going to have to hold onto your house for the foreseeable future.
On the flipside though, if you have parents that own a home, and are holding on, that's the quickest way to generational wealth, especially if that house is paid off. The group of people in their 20s and 30's that can't buy a home, might be able to inherit their home from their parents in the future, You can get a leg up on everyone else, if you're inheriting a home worth $750K or $1 Million +. My parents still own their home that's worth about $950K, after purchasing it for $400K back in 1997. They're 3 years away from owning it completely. Imagine inheriting a $1 Million home
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beaniemac
Rap Guerilla
I just did a quick redfin search in my area, and there's a number of single family homes that's between 250-350K 
It's never going to happen because no group of politicians will ever draft up legislation and get it pushed through to make it happen because people don't really care about this issue like that. They just like to complain.
Mike Nasty
Superstar
I'm surprised no ones mentions the baby
I guarantee those same homes were $150-$180K back in 2009I just did a quick redfin search in my area, and there's a number of single family homes that's between 250-350K
beaniemac
Rap Guerilla
and that was 15 years ago. even at 3% appreciation in housing prices, that still puts u at the current prices I mentioned.
Kings County
Law III | Law XXV | Law XV
wait for crash
Kings County
Law III | Law XXV | Law XV
lol at thinking you're getting a 2 bedroom in ny for 500 lol try 700When people have had enough
No reason a 2 bd house in California, New York or Hawaii should cost 500k+
People gotta finally say enough is enough to these scummy ass companies and sellers
