Home buying thread

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Captain Suave

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It being bullshit is irrelevant.
It just doesn't seem to jive with actual mortgage applications, which are down 30% YOY and at 25-year lows.
1666738016337.png


 
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Mizake

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Yeah that tweet is pure hopium bullshit.

I belong in the "looking the buy a home" category because the market's tanking and it is/will be a great time to pick up another investment property; I think there's a lot more to drop so I'm personally holding out until 2023. I know a lot of my friends are in the same boat. We haven't seen the bottom of the market yet, so there is no need to rush and buy a property now when I can probably get a better deal in a few months.

So yes, technically there is a lot of us looking, but as many others have pointed out, fewer people are actually pulling the trigger.
 

Blazin

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It just doesn't seem to jive with actual mortgage applications, which are down 30% YOY and at 25-year lows.
View attachment 439831

Wrote a couple paragraphs and deleted tired of wasting my time on it. Pent up demand for housing does not mean demand at any level of affordability. If I want to fuck my wife but she doesn't make herself available based on your guys world view the zero hedge headline would be "Epic decline in Sex!" but guess what the moment she makes herself available...

You now have all the tools you need to navigate this housing market.
 
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Captain Suave

Caesar si viveret, ad remum dareris.
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Wrote a couple paragraphs and deleted tired of wasting my time on it. Pent up demand for housing does not mean demand at any level of affordability. If I want to fuck my wife but she doesn't make herself available based on your guys world view the zero hedge headline would be "Epic decline in Sex!" but guess what the moment she makes herself available...

You now have all the tools you need to navigate this housing market.
Sorry, I guess I missed the point you were trying to make in the difference between actualized demand at this price and theoretical demand at some price. I agree that there's not going to be any kind of big housing crash for exactly the reason there's a massive supply shortage and a lot of would-be buyers. Edit: I do think there's some useful information in elasticity being displayed at current prices, though.
 
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Blazin

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Sorry, I guess I missed the point you were trying to make in the difference between actualized demand at this price and theoretical demand at some price. I agree that there's not going to be any kind of big housing crash for exactly the reason there's a massive supply shortage and a lot of would-be buyers. Edit: I do think there's some useful information in elasticity being displayed at current prices, though.
Welcome to the club that gets it, we are currently waging nerd war on the crew waiting for the 20-40% price decline that is surely just around the corner.
 

Ishad

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I don’t think there needs to be a nation wide crash to get a reasonable deal. Target flippers. More likely to be over leveraged and looking to get out at an acceptable loss. There are some comically bad decisions out there.
 

Sanrith Descartes

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I foresee the adjustments being regional/localized. Parts of Florida I am less interested in are seeing some real drops but the parts I am more interested in are seeing slim price drops. As supply/demand does its thing I expect this to perpetuate. Some areas will indeed crash, others will not.
 
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Asshat wormie

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Currently I have about 30% of my usual business here in NYC. However, prices still arent moving much. 10k off on a 600k 1500 sq foot semi attached house? Epic discounts!
 
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Tmac

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It being bullshit is irrelevant. By your standard the stat is and always has been bullshit, so what it tells you is there was a 6.8% increase in bull shittiery. Can you/a company find valuable information in the rise and fall of bullshit? If the stat says "record decline in people looking purchase a home in the next six months" - ZeroHedge

We'd have this here instead...


Despite it all being bullshit.

I'm saying that what people say is irrelevant, versus what people actually do.
 

Tmac

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Currently I have about 30% of my usual business here in NYC. However, prices still arent moving much. 10k off on a 600k 1500 sq foot semi attached house? Epic discounts!

That's what I'm seeing in my university town.
 

Lanx

Oye Ve
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the house by the pond/lake that i walk by now put this
Seller willing to pay up to $10,000 in concessions for cosmetics repairs and/or closing cost – buy down your interest rate!
 

Goatface

Avatar of War Slayer
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from earlier this month

woman bought a home that didn't have a functioning water meter for 13 months. after she bought it, let city access the meter, who said the home wasn't billed correctly for water use and state law if not address during the sale, the bill goes with the house. plus $250 per fine for not paying.

1667095606381.png


doesn't look like that big of a house and property to use $400+ of water per month. also city owns the meter, but can't access it without owner's permission sounds nuts.
 
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Lanx

Oye Ve
<Prior Amod>
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from earlier this month

woman bought a home that didn't have a functioning water meter for 13 months. after she bought it, let city access the meter, who said the home wasn't billed correctly for water use and state law if not address during the sale, the bill goes with the house. plus $250 per fine for not paying.

View attachment 440472

doesn't look like that big of a house and property to use $400+ of water per month. also city owns the meter, but can't access it without owner's permission sounds nuts.
my apt in jersey had the basement/cellar unlocked so they could take their readings (were still doing it when i left in 2017)
Bilco-basement-doors.jpg


for the first 10yrs in brooklyn they'd knock on our door to gain entry to the basement for the utils also, until they installed a tiny outside meter
 

Goatface

Avatar of War Slayer
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my apt in jersey had the basement/cellar unlocked so they could take their readings (were still doing it when i left in 2017)
Bilco-basement-doors.jpg


for the first 10yrs in brooklyn they'd knock on our door to gain entry to the basement for the utils also, until they installed a tiny outside meter
Adam Carolla said when he was growing up, the meter was in his bedroom.
 

Kithani

Blackwing Lair Raider
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from earlier this month

woman bought a home that didn't have a functioning water meter for 13 months. after she bought it, let city access the meter, who said the home wasn't billed correctly for water use and state law if not address during the sale, the bill goes with the house. plus $250 per fine for not paying.

View attachment 440472

doesn't look like that big of a house and property to use $400+ of water per month. also city owns the meter, but can't access it without owner's permission sounds nuts.
I was going to say "she'll be fine it says she's a physician" but then noticed it said she was starting fellowship - so still in training - probably makes ~65k per year with tons of student debt. Also she bought a house in Detroit so already making bad financial decisions.
 
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