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amazing how this housing site evolved into even heavier topics
On par with Buy Now or Be Priced Out Forever”
tanked saysamazing how this housing site evolved into even heavier topics
I think there is a common theme. "Madness of crowds", "establishment deception", "herd mentality" - something along those lines.
BayArea saysOn par with Buy Now or Be Priced Out Forever”
I hate realtors. I was one. With the massive inflation it's not invalid though. I didn't click the link though either. We're about to acquire land and build. This is a forever house. Custom built. Not huge, 2,200-2,600sf but no expense spared.
Silly shit like pool, sauna, hot tub, steam shower, bidet, outdoor speakers, indoor speakers, whole house vacuum, accordion glass doors, multiple HVAC, etc. I'm doing this once and i'm not fucking around. Land and build we're looking at $500-600k. We'll have negative equity out the gate.
Not the smartest move, but you only live once. We have the cash and credit to make it happen. And I know these numbers look retarded to you CA guys, but we can build a palace for that price where we're at. Our property taxes will be $12k/yr though is the only problem. So travel is going...
Tell me if I'm making a bad move. I'm trying to tell myself that it is.
agreed i just mean that when the site started I didn't foresee other topics getting even worse, making housing like childs play by comparison. It's not like they said "you are forced to buy an overvalued house". now it's even worse than being forced to buy overvalued homes instead of rent.
BayArea saysOn par with Buy Now or Be Priced Out Forever”
I hate realtors. I was one. With the massive inflation it's not invalid though. I didn't click the link though either. We're about to acquire land and build. This is a forever house. Custom built. Not huge, 2,200-2,600sf but no expense spared.
Silly shit like pool, sauna, hot tub, steam shower, bidet, outdoor speakers, indoor speakers, whole house vacuum, accordion glass doors, multiple HVAC, etc. I'm doing this once and i'm not fucking around. Land and build we're looking at $500-600k. We'll have negative equity out the gate.
Not the smartest move, but you only live once. We have the cash and credit to make it happen. And I know these numbers look retarded to you CA guys, but we can build a palace for that price where we're at. Our property taxes will be $12k/yr though is the only problem. So travel is going...
WookieMan saysTell me if I'm making a bad move. I'm trying to tell myself that it is.
Will you have to go with construction financing first and then refi into a conventional loan? I'm getting cold sweats just thinking about the rate raises the Fed want s to do this year.
Scumbag Realtor!
I disagree with her encouragement on buying real estate at this point. I could totally be right and she would be proven wrong, but I still wouldn’t call her a scumbag.
City?
WookieMan saysTell me if I'm making a bad move. I'm trying to tell myself that it is.
Will you have to go with construction financing first and then refi into a conventional loan? I'm getting cold sweats just thinking about the rate raises the Fed want s to do this year.
This house is in a decent working class neighborhood, nothing fancy. Offer is due today, and it’s already contingent. 🙄
Just read the article. You may disagree with her, but I wouldn’t call her a scumbag. She’s more than likely smarter than you, has seen more than you, and probably has more experience than you when it comes to real estate.
I'd tap the brakes on saying she's smarter than anyone though.
WookieMan saysI'd tap the brakes on saying she's smarter than anyone though.
She is smarter than most and especially the OP, who called her a scumbag. She started a company with $1k at the age of 23 and later sold it for $66M. Let the result speak for itself.
Eman, are you hanging on to any apartment buildings or have you sold them off/divested?
Let's see what happens when the 30-year is 7%.
I'm worth $2M and don't even own a home. Sad I know.
porkchopexpress saysThanks. It just never worked out because of my job and we lived in crazy expensive places. Then throw in the Great Recession and that spooked the hell out of me. It was during that time I went down the rabbit hole of the Fed, Peter Schiff, sound money, etc. I also joined this site back in like 2005. I was just afraid of losing my shirt on a house because I saw friends and family go through it. I feel a little like old people who lived through the Great Depression...they become super frugal.I'm worth $2M and don't even own a home. Sad I know.
There’s nothing wrong with this. Know your end goal and work towards it. Not everyone wants a home. I have a good friend who is a nomad. He has someone help him run the AirBnB biz while he travels the world. He doesn’t own a home, but worth over a million at the age of 37.
Then throw in the Great Recession and that spooked the hell out of me. It was during that time I went down the rabbit hole of the Fed, Peter Schiff, sound money, etc. I also joined this site back in like 2005. I was just afraid of losing my shirt on a house because I saw friends and family go through it.
How likely do you think that 7% will actually arrive?
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https://www.yahoo.com/finance/news/barbara-corcoran-homebuyers-should-move-faster-amid-soaring-prices-141530835.html?source=patrick.net