(Topic ID: 220173)

House Prices and other out of control prices....


By Grayman_EM

1 year ago



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  • 62 posts
  • 38 Pinsiders participating
  • Latest reply 1 year ago by benheck
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    There are 62 posts in this topic. You are on page 2 of 2.
    #51 1 year ago

    Dont know how you guys do it.

    I picked up a 3/2 lakeview Condo, 1600 sq ft this year for $110,000.
    Im looking at a 2/2 for my son, in the $60-$80K.

    I few blocks from one of the best beaches in the gulf, the same as above, 3/2, and 2/2 with
    2 car garage, sunset views, and 2.3 miles from the beach....$106,000-$150,000

    I did a 2/1 last year, 1100 sq feet, walk out door on Cocoa Beach, that was $120.

    But if one doesnt mind a bit of rural, 1700 sq ft homes, that are nice are still well under 200K here, and as low as $150.

    I couldnt imagine CA, NY, or Seattle....!!! Id have to work 24/7!!!

    #52 1 year ago
    Quoted from OLDPINGUY:

    I couldnt imagine CA, NY, or Seattle....!!! Id have to work 24/7!!!

    Depends on what habits you might have.

    Ca. is the cheapest and affordable place this minimum wage kid can live in.

    #53 1 year ago
    Quoted from RandomGuyOffCL:

    When do you think it will?
    I’m trying to strategically time the market

    There will probably be a market correction in 2019, so maybe 2020 or 2021 if the Democrats win in 2020.

    #54 1 year ago

    Just bought my third multifamily property in the greater Boston area (this one in Brighton). Can’t sniff anything in the area under $850k.

    The appreciation has been fantastic, but even with a market correction, I’m set. I invest for cash flow and all of my properties cash flow heavily.

    As a school teacher, real estate has allowed me a life style I would not have been able to imagine on just my salary.

    #55 1 year ago
    Quoted from MEuRaH:

    Wow!...... You guys gotta check this out. This stuff amazes me.

    Thanks for the encouragement!

    Robert

    https://pinside.com/pinball/forum/topic/bally-night-rider-ss-re-theme

    #56 1 year ago

    What I'm waiting to happen eventually is that people get so much equity through appreciation that they could literally move and retire. I don't think it's that far away honestly. People in California have $500k+ appreciation in a lot of their homes, you could just move and be set if you have decent savings on top of that. When the choice gets to a) live in California or b) never work again, I think people will eventually start choosing b).

    #57 1 year ago

    We are very fortunate. Years ago we rented next door to the house where we live now. We bought it in 2012 from the elderly couple that built it. Stan and Betty were good friends and when they moved to a retirement community we were able to buy the house for the “family price”, a great deal at the time. Since then our area has exploded with new tech growth. primarily because of the decline of blackberry, causing small tech companies to emerge from the great talent left behind, and then a large Google office building coming into town caused an influx of traffic from Toronto where the property value triple the current local market.

    We bought for 258k, comparisons in the area are selling for almost 600k. Across the street sold for 440k and was a complete gut job Reno.

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    #58 1 year ago
    Quoted from Whysnow:

    Wi is amazaballs weather and we get all the seasons!

    Humidity kills the deal.

    #59 1 year ago

    Not complaining at the moment as mine has went up 15-20k the past year or so.... im sure ill complain when i go to buy a new one tho lol.

    #60 1 year ago

    Toronto and Vancouver have epic housing bubbles. They never had the 2008 meltdown that happened in the states. 2% mortgages have a lot to do with that. Rates are normalizing a bit , it should slow down the prices.

    #61 1 year ago

    I don’t care what my house is “worth”, it’s all pretend money unless you sell and move, which most people don’t want to do. I’m happy I have a good place to live in a nice neighborhood.

    As hard as it was to find a place, I can’t imagine what it’s like for younger people now. House prices rising much faster than real wages, plus they got buckets of student loans to contend with.

    Even though I got a good job and live frugally (my car is 9 years old and we make do with just one, for instance) it still feels like we just have enough money at the end of the month.

    #62 1 year ago

    A newly married friend of mine just started house hunting. "They're asking 297, so we're gonna offer 301" I laughed at him.

    What's realling driving it is the Federal rate finally going up. It's a land rush to lock in a good rate before it goes "even higher" though it's still laughably low. Which makes money cheap and thus prices high. (See also student loans)

    Regarding my thoughts on when the correction happens, can't without being political.

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