patrick.net

Glock-n-Load says

FortWayneHatesRealtors says

We live in communism, capitalism replaced with bailouts is communism. And it doesn’t work.

Doesn’t work for who?

In a long run that’ll be everyone.

zzyzzx says

Actually a LOT of people hate open concept.

I'm one of them. I mostly hate every new house. They are made of plastic and then wrapped with more plastic, tyvek house wrap shit.

I want an old house, the older the better, as long as it is in good shape.

Glock-n-Load says

Most homes that have any land are older homes.

That too. I want a bit of land. It's so depressing around here to see a nice old house with some style, actually made of WOOD, and then find that they sold off the back yard to let developers put up some plastic shit monstronsity in it.

Patrick says

actually made of WOOD

Around here, the new mid to upscale homes are wood framed and brick sided. There is plastic sheathing between the wood framing and the brick, but that is a good idea. Older wood siding houses are a maintenance nightmare as they require scraping and painting every few years.

FortWayneHatesRealtors says

Glock-n-Load says

FortWayneHatesRealtors says

We live in communism, capitalism replaced with bailouts is communism. And it doesn’t work.

Doesn’t work for who?

In a long run that’ll be everyone.

Long term everyone is dead.

Even with Case/Shiller hitting an all-time high, housing affordability is at a 4 year high.

Wages are increasing at a rate higher than inflation, housing prices are going up at a rate lower than inflation, and mortgage rates have dropped about three quarters of a point over the last year. Let's hope these trends continue.

https://www.foxbusiness.com/politics/mortgage-affordability-hits-four-year-high-white-house-points-trump-housing-policies

Misc says

housing affordability is at a 4 year high.

Sure doesn't look that way:

This may push up the 10 Year Treasury some, which could push up the 30 Year mortgage rate, thereby putting more downward pressure on housing prices.

..................................................

https://www.aol.com/articles/china-reportedly-told-banks-scale-153957324.html

China has reportedly told banks to scale back holdings of US government debt

AD says

could push up the 30 Year mortgage rate, thereby putting more downward pressure on housing prices.

That could be a good thing for me.

I don't like competing against idiots who will borrow themselves into oblivion.

Misc says

Wages are increasing at a rate higher than inflation

Hahaha.

And the Easter Bunny is real.

Misc says

housing prices are going up at a rate lower than inflation, and mortgage rates have dropped about three quarters of a point over the last year

So? Bullshit trends that do not support the claim that 'housing affordability is at a 4 year high' when there isn't housing affordability in general, period.

Might as well say, "rapes in Muslim immigrant dominated cities of Europe is at a four year low' and declare that to be progress, too.

MolotovCocktail says

Patrick says

I don't like competing against idiots who will borrow themselves into oblivion.

Yep, both with cars and houses.

https://www.redfin.com/news/buyers-vs-sellers-december-2025/

Home Sellers Outnumber Buyers By a Record Margin

Misc says

Even with Case/Shiller hitting an all-time high, housing affordability is at a 4 year high.

Wages are increasing at a rate higher than inflation, housing prices are going up at a rate lower than inflation, and mortgage rates have dropped about three quarters of a point over the last year. Let's hope these trends continue.

https://www.foxbusiness.com/politics/mortgage-affordability-hits-four-year-high-white-house-points-trump-housing-policies

Foxnews man is paid propaganda. It’s all bullshit. Inflation is still strong. It’s not 2%, it’s much higher. I can see it, my neighbors can’t afford to eat meat and it’s only getting worse. Gas is up again, just about everything is going up again.

Trump is going for inflating out of the problem like entire top of the elites, inflate or die, business empires built on loans that get inflated away.

Inflation is increase in price. Lower inflation means prices are going up slower but still going up.

Unless people get more income higher than inflation, struggle will continue. It will be hard for republican to stay in power if people struggle.
Only way to bring down prices is deflation.

MolotovCocktail says

Yep, we just did photos for a 2 bedroom condo with 2 baths and a 1 car garage.

$3,245/month with 20% down + condo fee of $665/month.

Almost $4,000/month for a 2 bedroom condo. This is not the city and not near a city. About an hour outside of DC.

Glock-n-Load says

MolotovCocktail says

Yep, we just did photos for a 2 bedroom condo with 2 baths and a 1 car garage.

$3,245/month with 20% down + condo fee of $665/month.

Almost $4,000/month for a 2 bedroom condo. This is not the city and not near a city. About an hour outside of DC.

Apparently, not enough DC grift spending has been cut.

MolotovCocktail says

Frustrating how they want to rescue price inflation. In the meantime they are subsidizing low income housing complex’s in our neighborhood goi g up, yes republican investor is building it.

“I want an old house, the older the better, as long as it is in good shape.”

I bought a 1973 custom built 3800. Sq ft wood home on the water in Tarpon Springs. Here is what I learned. Older homes have replacement problems. For instance, the size/dimensions of wood have changed over the years. Once acceptable piping made of galvanized steel needs replacing. The exterior and 3 lot 6 ft high fencing were all built from rough hewn cedar. Try replacing that in today’s market. You can’t find it. You need to find a lumber yard that will cut it for you. I am not suggesting today’s homes are superior, they are not. I now live in a cabin built in 2004. I am happy with the construction and required upkeep.

Glock-n-Load says

Almost $4,000/month for a 2 bedroom condo. This is not the city and not near a city. About an hour outside of DC.

That is high even for the near DC area.
https://www.zillow.com/homedetails/213-Upper-Brook-Ter-Purcellville-VA-20132/245712317_zpid/

MolotovCocktail says

Which one do you like best?

how about the latter, except with AK's arranged in a teepee.

MolotovCocktail says

Out here 2021 was 200k, today it’s 450k. This inflation is what’s killing people.

Stocks went up about 60% during that time frame., yet I haven't heard a word about how that inflation is killing people.

When mortgage rates were 6.5% about 35% of home purchases were done all cash. Now that rates have dropped to about 6%, about 27% of purchases are done all cash. On top of that about half of 1st time buyers are getting help from their folks (people who had a decent chuck of change in stocks), and the States on average are kicking in about $10k to 1st time buyers.

Even with that volume is anemic. Not a lot of buyers and not many properties for sale.

Misc says

Stocks went up about 60% during that time frame., yet I haven't heard a word about how that inflation is killing people.

Ppl don't need stocks to live in, that's why.

Misc says

Stocks went up about 60% during that time frame., yet I haven't heard a word about how that inflation is killing people.

As of 2024–2025, the top 10% of American households hold approximately 87% to 93% of all U.S. stock market wealth, a record high that intensifies wealth inequality.

The top 1% alone controls over 50% of these corporate equities and mutual funds, while the bottom 50% of households hold roughly 0.6%–1% of stocks.

Patrick says

That could be a good thing for me.

I don't like competing against idiots who will borrow themselves into oblivion.

Are you in the market to buy?

B.A.C.A.H. says

Are you in the market to buy?

I think "I don't like competing against idiots who will borrow themselves into oblivion" is a major reason he is not in the market to buy.

HeadSet says

B.A.C.A.H. says

Are you in the market to buy?

I think "I don't like competing against idiots who will borrow themselves into oblivion" is a major reason he is not in the market to buy.

Thing is everyone just assumes prices will go up forever, which is probably true. So it became an investment. It’s stupid how our system works. We reward asset ownership, nothing else.

FortWayneHatesRealtors says

Thing is everyone just assumes prices will go up forever, which is probably true. So it became an investment. It’s stupid how our system works. We reward asset ownership, nothing else.

Not an investment, but an inflation hedge. That is why I bought a house much larger than I needed. I figured in 2014 when I bought my current residence that prices would climb to a point where we would see multi-generations per house.

FortWayneHatesRealtors says

Thing is everyone just assumes prices will go up forever, which is probably true. So it became an investment. It’s stupid how our system works. We reward asset ownership, nothing else.

Best way to price the market bottom now is to go back 10 years and if the house was bought for $100,000 then, its market price is based on 3% annual appreciation for last 10 years.

$100,000 x (1.03)^10 = $134,392

Realtors report a ‘new housing crisis’ as January home sales tank more than 8%

KEY POINTS
Sales of previously owned homes in January dropped a wider-than-expected 8.4% from December.
The median price for a home sold in January was $396,800, up 0.9% year over year and the highest January price on record.
Inventory came down from December but was still up 3.4% year over year.

January home sales fell more than 8%

High home prices, faltering supply and weaker consumer confidence in the economy all continue to weigh on the U.S. housing market. The chief economist for the National Association of Realtors, Lawrence Yun, is calling it “a new housing crisis.”

Sales of previously owned homes in January dropped a much wider-than-expected 8.4% from December to a seasonally adjusted, annualized rate of 3.91 million, according to the NAR. Sales were 4.4% lower than January 2025. That is the slowest pace since December 2023 and the biggest monthly drop since February 2022.

This count is based on closings, so contracts that were likely signed in November and December, when the average rate on the 30-year fixed mortgage didn’t move much before dropping slightly in January. That rate is now 6.1%, according to Mortgage News Daily.

Regionally, sales fell across the nation month to month but were down the most in the South and West.

“Affordability conditions are improving, with NAR’s Housing Affordability Index showing that housing is the most affordable it’s been since March 2022,” Yun said in a release. “This is due to wage gains outpacing home price growth and mortgage rates being lower than a year ago. However, supply has not kept pace and remains quite low.”

But he also noted on a call with reporters that potential buyers are “still struggling,” and “renters are not participating in housing wealth.” He characterized the current market as a crisis because, “the movement is not happening. Americans are stuck.”

Inventory came down in January from December but was still up 3.4% year over year. There were 1.22 million homes for sale at the end of January, which at the current sales pace is a 3.7-month supply. A six-month supply is considered a balanced market between buyer and seller.

Tighter supply kept home prices in positive territory. The median price for a home sold in January was $396,800, up 0.9% year over year and the highest January price on record.

“Homeowners are in a financially comfortable position as a result. Since January 2020, a typical homeowner would have accumulated $130,500 in housing wealth,” Yun added.

Homes are taking longer to sell, at 46 days in January versus 41 in January 2025. About 31% of sales were to first-time buyers, up from 28% a year ago.

Sales continue to be strongest on the higher end of the market; in fact, the only price segment in the positive from a year ago was the $1 million-plus range. Sales dropped the most for homes priced below $250,000.

https://www.cnbc.com/2026/02/12/january-homes-sales.html

Builders are having no problem selling new homes.

...because they fucking cut their prices, that's why.

AD says

FortWayneHatesRealtors says

Thing is everyone just assumes prices will go up forever, which is probably true. So it became an investment. It’s stupid how our system works. We reward asset ownership, nothing else.

Best way to price the market bottom now is to go back 10 years and if the house was bought for $100,000 then, its market price is based on 3% annual appreciation for last 10 years.

$100,000 x (1.03)^10 = $134,392

Well it’s 3x bottom now, that’s a new bottom. Inflation is a massive reason.

B.A.C.A.H. says

Are you in the market to buy?

I thought about it recently, and looked at a few places, but I just can't bear to grossly overpay relative to what the same place would cost to rent.

For me, it's a question of which appreciates faster - used housing or pms. My bet is on the latter. Since the early 'naughties housing has gone up maybe 4X while gold has been a 20 bagger.

FortWayneHatesRealtors says

Well it’s 3x bottom now, that’s a new bottom. Inflation is a massive reason.

Townhomes in Panama City Beach have gone up about 3% a year since 2016. A townhome sold for $190,000 in 2016 goes for around $253,000 now. That may stay steady at worse if the 30 yr mortgage rate remains below 6.5%.

Note annual inflation (CPI) reported this week at 2.4%, so that may help to keep the 30 yr mortgage rate below 6.1%, as it usually is 1.5% to 2% above the 10 Yr Treasury, which is usually 1.5% above the annual inflation rate.

Not sure what you mean by "3x bottom now". But I suspect that the price to income ratio for someone who only puts a 5% down payment should be no more than 4 if the 30 year mortgage rate is 6%, to get to an affordable and fair pricing.