The Goat Pen

Jungle Rat wrote: ↑Thu May 19, 2022 4:35 pm They did not pay cash. Not many young couples can.

Fine. But a significant percentage of these much FEWER number of real-estate transactions, ARE CASH. There are not a lot of young couples buying real-estate right now. As you said earlier (and you were correct) many of these transactions are groups of investors and they pay cash.

As far as your entertainment goes, I have no fucking clue what is going to happen when the bubble bursts. No idea. We will find out, but I will not speculate.

"No. You paid cash. No foreclosure. Maybe less alcohol for you, but that is it."

You say that as if that's not a hardship...

IB. Damn. Most young couples today are fighting their asses off to find a house. Already financed. Ready to go. Mine sold in 5 hours. 10k over asking. Could have got 5k more but this closing was sooner and I had already moved down here. Companies are outbidding them or people with higher thresholds pay more for less just to get it over with. Remind me not to take any financial advice from you. Not that I would.

And my other house I rehabbed and sold in early 19 also was bought by a young couple with little kids. Not cash either. They must make some good fucking money though to afford that at their age.

Something else to ponder about your savior.

https://www.huffpost.com/entry/donald-t ... 85b668f891

Oh thank god, ive been waiting for more Trump!

Jungle Rat wrote: ↑Thu May 19, 2022 4:55 pm IB. Damn. Most young couples today are fighting their asses off to find a house. Already financed. Ready to go. Mine sold in 5 hours. 10k over asking. Could have got 5k more but this closing was sooner and I had already moved down here. Companies are outbidding them or people with higher thresholds pay more for less just to get it over with. Remind me not to take any financial advice from you. Not that I would.

Yes its rough out there. I don't want to be in a position where I HAVE TO BUY. But (for whatever reason) sometimes people are in that position. And its brutal because there is not much to choose from and it will go for top dollar. My parents just got a full price cash offer for their house in Florida.

Its crazy.

aTm wrote: ↑Thu May 19, 2022 5:13 pm Oh thank god, ive been waiting for more Trump!

This cracked me up.

MONKEYPOX!!

My small town can’t build houses quick enough to meet demand. All of them 500K+.

As soon as existing houses are put on the market, they are sold…usually in less than a week…1-3 days mostly.

Last appraisal my house was roughly $130/sq ft. Today it’s around $190. It’s all about the schools here, and it’s crazy as hell.

There's an at least 6 month waiting period just to start construction in this neighborhood. Can't build them fast enough either.

Dave23 wrote: ↑Thu May 19, 2022 8:03 pm My small town can’t build houses quick enough to meet demand. All of them 500K+.

As soon as existing houses are put on the market, they are sold…usually in less than a week…1-3 days mostly.

Last appraisal my house was roughly $130/sq ft. Today it’s around $190. It’s all about the schools here, and it’s crazy as hell.

This has happened so many times. 30 years ago when the 1990 recession was "winding down", a line would form in front of the office of any new housing subdivision in California. People would get in line to bid on houses that weren't even built. Just crazy.

We have all seen so many damn housing bubbles in our lifetimes. And I'm sure, they all crashed for whatever reason. There will be no difference here. I would agree with rat, cash out and wait. Just wait. Sell your house for the Max. Rent something (somewhere) out in the middle of nowhere and sit on your cash. And wait. Just wait. It may be months, it may be years. But when the bubble pops and inventory finally catches up with demand, the prices will plummet. Then, buy back in.

"Yes its rough out there. I don't want to be in a position where I HAVE TO BUY. But (for whatever reason) sometimes people are in that position. And its brutal because there is not much to choose from and it will go for top dollar."

Brutal that you can't buy some house? First world problems...

Sticky Jabby

https://www.npr.org/2022/05/19/10985438 ... eath-tolls

hedge wrote: ↑Thu May 19, 2022 8:22 pm "Yes its rough out there. I don't want to be in a position where I HAVE TO BUY. But (for whatever reason) sometimes people are in that position. And its brutal because there is not much to choose from and it will go for top dollar."

Brutal that you can't buy some house? First world problems...

Arizona is 1st world. I can't speak for where you might live hedge.

Yep. Sure is.

https://www.12news.com/article/news/loc ... b5642609bb

That damn laptop!

https://www.huffpost.com/entry/hunter-b ... fc268a7d36