TJT
Mr. Poopybutthole
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$2500 is about as high as you can hope for in the Austin area for that house. As far as I could tell.
Home buying thread
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Daidraco
Golden Baronet of the Realm
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45k would have been something, surely. But hell, I would give anything to go back to the mid 2000's and start my business then. Id be on a pretty similar level as my parents after all this time and most of their stuff is paid for or at worst, has some dumb/stupid low interest rate on it. Moms got it all wrapped up in some business/estate type shit so taxes are being shirked to an extent as well. That generation of people really were in a special spot, no doubt about it. Start adding in the fact that some of your major professions, in their time frame, didnt require some of them to have additional four years of school, and could just test into the states that did require them. Or that probably 1/3 of the classes colleges have now didnt exist in the "required" curriculum. Or the insane price of tuition.
I believe in working to get somewhere, definitely. But the idea I could have done all of that back then just makes me wonder why more of that generation isnt wealthier. Tf were they doing?
I believe in working to get somewhere, definitely. But the idea I could have done all of that back then just makes me wonder why more of that generation isnt wealthier. Tf were they doing?
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We got a flood of New Yorkers over the last few years. They sold their overpriced homes up there and came down here. Instead of doing normal offers and being competitive they just came in cash heavy and drove the market up too high, too fast.
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Sanrith Descartes
Veteran of a thousand threadban wars
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Lol, I'm not in the market so thanks for driving the value of my home up. Just keep the New York retardism outta here.
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I agree with you, but I think it's a time frame question.
I think that between now and real "Weimar style" action inflation we're going to get a period where the fed will THINK it has things under hand, and/or the markets tank to the point they have no option but to try more QE and low rates. And when they do that , it will be the catapult into inflation "going plaid". If I'm right, then we will have a dip at some point, but it won't be terribly long, I suspect a 6-9 month window. They're already saying they have to be cautious about further rate hikes, which means they WANT to drop rates IMHO. Which they'll try, and reap the catastrophe which it will beget them.
Daidraco
Golden Baronet of the Realm
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I see inflation, but the rumors behind Hyper Inflation just seem to come from people that are willing to buy into Michael Burry's (and his gang) pump and dump conspiracy. The fed definitely needs a kick in the ass if we're to expect this boat to turn around at all though. I wouldnt be afraid of the fed raising the interest rate - we went through this shit several times before, but most notably back in the 1980's off and on again. Highest fed rate was 1981 at 16.63%. If the fed rate is there, what do you think cars were being financed at? Houses? etc. OF COURSE we're going to get into a spot where tightening the belt THAT MUCH will cause the economy in those sectors to come screeching to a halt. But you have to remember all the shit that changes when sales are low because of high interest rates. (Think back to when you were a kid, too. The 80's were good.)
Financing 35k at 22% interest (Great credit rate in those years for a car) over 84 months (96 and 108 months are available, but the money has to be over 75k for most banks) is ~$820 dollars a month. That shit just isnt going to happen for the vast majority of people, and thats if they could even get approved at that rate and term. The Used car market has never recovered from COVID - so the demand will be there for new cars, if they can just make something affordable to people. Very similar story can be said with housing, which would also follow suit. As the only reason prices keep rising in most areas is because there continues to be buyers available for them. Market stagnates, and outright declines because of the interest rate and.. thats a good thing whether we want to believe it is or not.
What will help these industries decrease their price is when auto makers, architects and more start to say that they cant afford to build <whatever> - those same industries will attack the regulation thats keeping them at that price. Regulation will be stripped away in favor of "The shit no longer has a third brake light, per old regulation, but now the car costs $780 less." (Repeat that process over and over again.) Regulation, again, like what was talked about earlier with rain runoff and drainage, costing him 70k there, and 33k for engineering - do you think that shits going to stay in play when people can no longer afford to live in that area, much less afford to build houses there because of such regulations? Not a chance.
Im all for some correction in my thought process here, always open to critique in other words. But I feel like rich assholes are just trying to take advantage of people and that includes the MSM at this point, by pushing the Hyper Inflation BS.
Financing 35k at 22% interest (Great credit rate in those years for a car) over 84 months (96 and 108 months are available, but the money has to be over 75k for most banks) is ~$820 dollars a month. That shit just isnt going to happen for the vast majority of people, and thats if they could even get approved at that rate and term. The Used car market has never recovered from COVID - so the demand will be there for new cars, if they can just make something affordable to people. Very similar story can be said with housing, which would also follow suit. As the only reason prices keep rising in most areas is because there continues to be buyers available for them. Market stagnates, and outright declines because of the interest rate and.. thats a good thing whether we want to believe it is or not.
What will help these industries decrease their price is when auto makers, architects and more start to say that they cant afford to build <whatever> - those same industries will attack the regulation thats keeping them at that price. Regulation will be stripped away in favor of "The shit no longer has a third brake light, per old regulation, but now the car costs $780 less." (Repeat that process over and over again.) Regulation, again, like what was talked about earlier with rain runoff and drainage, costing him 70k there, and 33k for engineering - do you think that shits going to stay in play when people can no longer afford to live in that area, much less afford to build houses there because of such regulations? Not a chance.
Im all for some correction in my thought process here, always open to critique in other words. But I feel like rich assholes are just trying to take advantage of people and that includes the MSM at this point, by pushing the Hyper Inflation BS.
Palum
what Suineg set it to
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Palum
what Suineg set it to
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So you bring up an interesting point about market and manufacturing but I wonder if that's even possible today from a social standard.
For example the domestic auto industry certainly wildly changed approaches in the 70s thru early 90s on account of economic conditions.
However, I think the average person was predisposed to thrift or value, but today after decades of debt funding lavish lifestyles the average person isn't willing to cope with last year's iPhone, much less manual seat adjustments.
I wonder if car companies are even capable of producing cost conscious vehicles, or customers willing to buy them. The standard of living for a 20 year old today is a debt fueled version of a successful person near retirement 50 years ago.
Daidraco
Golden Baronet of the Realm
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Oh, I dont for a second think that if they do raise the interest rate to comparable levels, or even unprecedented levels, that people wont go kicking and screaming into the night. Its probably why the fed hasnt done it already, since "double digit inflation" was suppose to be a huge red flag and trigger all this in the first place. Not only that, but they also had the benefit of the majority of the nation willing to "bite the bullet" so to speak, and deal with it. If you're interested in seeing how the federal reserve handled the situation, here is a good write up of it all without much partisan bias.
Sanrith Descartes
Veteran of a thousand threadban wars
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File this under nothing is ever easy. Had to drive two counties over to find an open bank branch to wire the funds for my house closing. Yay hurricane insanity.
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Big Phoenix
Pronouns: zie/zhem/zer
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As I am getting ready to buy land out away from town and start building I am in need of a truck and I'm at the "looking for something built 20-30 years ago that simply refuses to die" end of the spectrum. heh
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Spring Break this year I stayed in those Sandy Key condos right there in your image. You're right, amazing area.Ugh, this all reminds me of the property I really wanted to buy in Perdido Key and build on when we were planning on heading to Florida. It was around $100k (which seemed cheap) I think, but I did some digging while we were in California and apparently you have to get all kinds of studies on some beach mouse or other rodent. Between that, the HOA, and having to build a minimum of 2000 sqft, we wrote it off as an option.
Which is a shame because holy shit, it's an amazing area. It's literally right next to the National Seashore. But you can also see how there have been almost no new houses built on all those empty lots in forever.
View attachment 488143
Edit: Think it was actually listed at $85k at the time (sold for 100k). Seems like a bargain until you realize you have to throw tens of thousands at government bureaucracy.
7221 Surfview Dr, Perdido Key, FL 32507 | Zillow
7221 Surfview Dr, Perdido Key FL, is a Vacant Land home.This home last sold for $100,000 in October 2021. The Rent Zestimate for this Vacant Land is $3,002/mo, which has increased by $445/mo in the last 30 days.www.zillow.com
Edit: Check out this cool "neighborhood bar" where it's an old house in a neighborhood, where you park in between the trees next door. Crazy place. Live music all the time too.
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Gravel
Mr. Poopybutthole
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We almost rented a house on the end of that peninsula to the west (think it was North Shore Dr). Absolutely gorgeous home with a view of the bay. Someone else snaked it before us though.
Also saw Amber Mariano (Survivor winner and wife of Boston Rob) at the Publix right there.
Also saw Amber Mariano (Survivor winner and wife of Boston Rob) at the Publix right there.
Sanrith Descartes
Veteran of a thousand threadban wars
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You are making me feel old having watched Amber and Boston Rob when those seasons aired.