SoJersey has 1/10/th the numbers floating round here AND inventory.
Yes we know the surf isn't as good.
Coastal RE more for less surf...
Yes we know the surf isn't as good.
Coastal RE more for less surf...
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Coming from the apartment complex I was living in just prior, yeah, it's a First World Problem but the struggle is real.Caca is a condo owner and likes to bitch about his neighbors and how they don't break down their cardboard boxes
I own a 2br/bath condo.$700,000 is about the lowest entry level property in our hood right now. If we didn't get in when we did, do you think we could afford a 1.3 million dollar house now? $6000 a month mortgage? But go ahead and keep paying rent. See what that gets you in 20 years.
Do you think it’s better or worse? Inflation is Certainly worse now but real estate has far better fundamentals. There are far less bad loans on the book, and we have an increase in institutional investors which has definitely changed the game. Plus there is a lot of cash on the sidelines that is waiting for a “crash”. I could see rural areas taking a hit, but I don’t see the coast dipping much at all.
Code enforcement took care of them.Caca is a condo owner and likes to bitch about his neighbors and how they don't break down their cardboard boxes
a domicile is not an investmentCode enforcement took care of them.
Someday you might own the place where you live.
Then you'll understand protecting your investment.
whats the story behind the avi casaCode enforcement took care of them.
Someday you might own the place where you live.
Then you'll understand protecting your investment.
I don't plan on staying here.a domicile is not an investment
If you have to ask then you probably know.whats the story behind the avi casa
They probably want to do it for their kidsI own a 2br/bath condo.
Condo mortgage payment is around $1100/month. That's about $600 less than I was paying living across the street from the beach. I have an ocean view and can be down at the beach in 5 mins by car.
I bought ONLY because I could afford it and it saved me $600/month...bonus was I didn't have to worry about the inevitable rent increases.
I have no interest in paying a 3500K/month mortgage plus home ownership expenses on the salary of a teacher and a nurse, breaking my ass working OT and extra shifts (then watching the majority of that money go to taxes) or needing a part time job.
40 hours/week is enough for me.
I know that's not very American, but fvvk America.
We need to bring back some of the confident "it's only going up!" pre-2008 threads to refresh our memories.
i see it as an investment in yourself and in your finances. Owning has allowed me to save much more money than I would if I was still renting.a domicile is not an investment
Don't know where you're looking but on my island the least expensive livable single family house on the market is $749,000 and there are two tear downs listed for under $700,000.SoJersey has 1/10/th the numbers floating round here AND inventory.
Yes we know the surf isn't as good.
Coastal RE more for less surf...
You own an island?Don't know where you're looking but on my island the least expensive livable single family house on the market is $749,000 and there are two tear downs listed for under $700,000.
Except you didn’t provide a single reason why you think a horrible crash is imminent. We don’t have 3% down variable rate mortgages and loans w/o income verification like we did back then. The closest thing we have to that are VA and FHA loans that are under 5%, which probably represent less than 10% of total loans. We didn’t have institutional and VRBO investors. Or tons of people who have been priced out and squirreling away cash during an epic stock market and employment run. Yes, things are different this time.We need to bring back some of the confident "it's only going up!" pre-2008 threads to refresh our memories.
Because I didn't say anything of the sort.Except you didn’t provide a single reason why you think a horrible crash is imminent.
That's why I said it's apples to oranges.We don’t have 3% down variable rate mortgages and loans w/o income verification like we did back then. The closest thing we have to that are VA and FHA loans that are under 5%, which probably represent less than 10% of total loans. We didn’t have institutional and VRBO investors. Or tons of people who have been priced out and squirreling away cash during an epic stock market and employment run. Yes, things are different this time.
There's no way anyone can anticipate when or what kind of a correction there will be or what will cause the correction.Does that mean it won’t correct? Of course not. Rural, suburban, and some already declining cities could certainly get hit. But I don’t see it being like 2008 on the coast because there are too many buyers on the sidelines.
My bad, misunderstood what you were getting atBecause I didn't say anything of the sort.
I think that was LifeOnMarts.
That's why I said it's apples to oranges.
Everyone fixates on the circumstances of the housing crisis of 2008 - it's irrelevant as those circumstances do not exist currently.
Agreed, I simply don’t see desirable areas getting hit that hard because there is a LOT of cash (much of which newly minted ) sitting on the sidelines waiting to get inThere's no way anyone can anticipate when or what kind of a correction there will be or what will cause the correction.
100% agree. If you need to do a bunch of OT, 2 incomes, and/or more than 1 of 2 your monthly take home paychecks to cover it, you can’t afford it.My point was simply the ongoing volatile aspects of the present and the mob run on housing should give the average potential buyers pause to first and foremost reassess their financial circumstances and what owning a home will demand of them in terms of finance and employment.
Like I said, I'm repulsed by the idea of working more than 40 hours a week or even a minute of OT. People who are into that sort of thing are into it usually because they have bills to pay, often a mortgage that swallowed them.
was talking mainland basically.Don't know where you're looking but on my island the least expensive livable single family house on the market is $749,000 and there are two tear downs listed for under $700,000.