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Thinking of selling now and moving honestly...
Fortwaynemobile saysThinking of selling now and moving honestly...
Don't know your age and no need to tell me, but I'd move. FHA and VA loans are astonishingly easy to get. A family of 4 just got $5,600ish, can't remember the exact number. 3.5% down or 0% down basically for VA. If you put that stimulus towards a house, that's $160k minimum of purchasing power that was just handed to you.
There's already short term inflation that I've seen on almost everything. It will be short lived without more stimulus. We won't crash as hard as '06-'08, but there will be stall and a drop in home prices. Hard to make predictions though with the printing presses going full force. Also depends on the gains of your primary residence. If you get above $500K (married) you're going to start paying some cap gains on it. If you can get out tax free, own your new place outright, that's what I'd do. Likely would require a move out of CA though.
Out here in silicon valley it seems that people are leaving the hell-hole cities (San Francisco in particular) and moving to the surrounding suburbs. Facebook, Google, and Apple are actually in the suburbs, so it's not like you need to move to the city so you can walk to the office. Accordingly, city prices are stagnating or falling, whereas suburb prices are skyrocketing.
My excoworker just sold his san Jose home for 1.5m and bought one for 320k in Dallas and waiting to be ready before moving. He put the surplus cash in funds. He says now that working is optional though he already got a job in Dallas. He thought that was a good price to sell.
How much more money can they print before the dollar is completely destroyed?
Out here in silicon valley it seems that people are leaving the hell-hole cities (San Francisco in particular) and moving to the surrounding suburbs. Facebook, Google, and Apple are actually in the suburbs, so it's not like you need to move to the city so you can walk to the office.
Was the Dallas house comparable size? Man that's a lot of money for a standard house. Who's buying???
Karloff saysHow much more money can they print before the dollar is completely destroyed?
Expansion of credit usually results in the last buyer holding the bag.
In other words, when stock X goes from $300 to $3000, then all of the general public jumps in and finally, it crashes to $500, and then the smart money returns, to pick 'em up at a huge discount.
We've seen it before when the average investor put their entire IRA into tech stocks back in 2000.
Panic buying, is the only thing that makes sense to me.
My house in Socal appreciated by 100k within the last 6 month. Fuckin lol.
SunnyvaleCA saysOut here in silicon valley it seems that people are leaving the hell-hole cities (San Francisco in particular) and moving to the surrounding suburbs. Facebook, Google, and Apple are actually in the suburbs, so it's not like you need to move to the city so you can walk to the office.
It has come full circle. When I moved out here in 1997, tech workers complained that the suburbs were boring, so over the years the companies opened offices in SF to cater to them. But now that SF is becoming an open air toilet, the workers see that the suburbs are not so bad after all.
One thing the Cop shooting of that Little Miss McStabbie showed, that the new hood is those new big development cul-de-sacs.
Dozens camp overnight for chance to buy $1.2 million Bay Area townhousesI think you are correct — your zillow link matches the sfgate story. I visited that complex a few months ago just for fun.
Is this what they were buying?
2 bed/ 3 bath, 1268 sq.ft.
Yikes, anyone want to do the Price to Rent ratio?
you still have to buy FOOD, and pay UTILITIES with salaries that are falling further behind by the second. Oh yeah, and PROPERTY TAX.
hat they were buying?
2 bed/ 3 bath, 1268 sq.ft.
Yikes, anyone want to do the Price to Rent ratio?
Bitcoin saysMy house in Socal appreciated by 100k within the last 6 month. Fuckin lol.
Apr 4, 2020 Sold for 1.66M
Apr 20,2021 Sold for 2.3M
640k appreciation in one year. Best business idea ever.
US is fucked up.
Tenpoundbass saysI wonder how these folks will handle getting foreclosed?
https://www.thegatewaypundit.com/2021/04/massive-brawl-breaks-mississippi-seafood-restaurant-chairs-glasses-fists-go-flying-video/
farmer2021 saysBitcoin saysMy house in Socal appreciated by 100k within the last 6 month. Fuckin lol.
Apr 4, 2020 Sold for 1.66M
Apr 20,2021 Sold for 2.3M
640k appreciation in one year. Best business idea ever.
US is fucked up.
@farmer2021
640k profit in the 1-2M range is nuts. Where is this? Was that your house?
It is becoming like Asian cities where only rich can afford houses.
farmer2021 saysIt is becoming like Asian cities where only rich can afford houses.
yes...and europe....
This may change, but I don't see the inflation in my grocery basket.
I wonder how these folks will handle getting foreclosed?
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Thinking of selling now and moving honestly...