This guys has a point...(faulty inflation measures will screw up all sorts of things)
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It depends how long the buck can be passed on repos. It does keep getting moved out which will do more harm than good IMOBleachedAnusDawg said:Also, FWIW, the real estate pros I know were saying a month ago that end of 2022 was the correction. Now they're saying 2023 or 2024.
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You can probably go to the Seattle Times archives around the time that Wa Mu collapsed and see the articles on the kind of malarkey that was going on with home loans. One that sticks in my mind was the loan officer who accepted a press on JOe the Painter sign on a van as proof of employment
Everyone got paid on the number of loans not the quality -
I have a spare room in my basement. Rent is negotiable. 😉Doog_de_Jour said:
I’ve been pitching Race’s strategy to my parents. I’m really worried they won’t be able to sell their house if they wait much longer and I don’t like them pumping more money into maintaining a home if they don’t have to.creepycoug said:This is my fear reduced to a one-pager.
I especially fear this as it relates to buying up house again. I was going to pull the trigger, but a las the Finance Club voices wouldn't let me be and I thought the better of it.
I remembered what I said here when lamenting the American consumer: payments. They always think about payments. Not about owning.
So I go buy some 2.5 million house, or whatever, because I can finance it rather easily with the down pmt. I'll have to apply to the problem. Ok.
Then the Fed corrects (assuming that happens in my life-tim), and we all know housing is going to take it in the ass. Now, I own a, what, 2 million house? 1.8? IDK what the correction will be. But my fucking loan doesn't change. That's what the payments mentality gets you.
@RaceBannon has it right: sell now, rent and wait. I just don't have the balls for that.
There is a disconnect alright. I have not seen one single credible attempt by anyone to argue otherwise. You called this one early Houston.
Shit's getting worse by the day. My daughter and SIL offered on a house in Magnolia last week ... small, modest home. $1.2. ONE POINT FUCKING TWO. JFC. I like Magnolia, but come on.
Two things: when I was 29 years old, I didn't have the stomach for that kind of reach. These kids these days. Also, they were outbid w/in an hour and they knew it would happen. They called me about the offer and I said, "WTF are you doing buying a million dollar house?" They said, "Shut up old man. And don't worry; someone else is going to buy it." They absolutely knew they'd be outbid.
But then they remind me selling would require me to move out of the basement so I shut up.
In any case, I haven’t seen this kind of FOMO in real estate in awhile. -
You’re married, right?BennyBeaver said:
I have a spare room in my basement. Rent is negotiable. 😉Doog_de_Jour said:
I’ve been pitching Race’s strategy to my parents. I’m really worried they won’t be able to sell their house if they wait much longer and I don’t like them pumping more money into maintaining a home if they don’t have to.creepycoug said:This is my fear reduced to a one-pager.
I especially fear this as it relates to buying up house again. I was going to pull the trigger, but a las the Finance Club voices wouldn't let me be and I thought the better of it.
I remembered what I said here when lamenting the American consumer: payments. They always think about payments. Not about owning.
So I go buy some 2.5 million house, or whatever, because I can finance it rather easily with the down pmt. I'll have to apply to the problem. Ok.
Then the Fed corrects (assuming that happens in my life-tim), and we all know housing is going to take it in the ass. Now, I own a, what, 2 million house? 1.8? IDK what the correction will be. But my fucking loan doesn't change. That's what the payments mentality gets you.
@RaceBannon has it right: sell now, rent and wait. I just don't have the balls for that.
There is a disconnect alright. I have not seen one single credible attempt by anyone to argue otherwise. You called this one early Houston.
Shit's getting worse by the day. My daughter and SIL offered on a house in Magnolia last week ... small, modest home. $1.2. ONE POINT FUCKING TWO. JFC. I like Magnolia, but come on.
Two things: when I was 29 years old, I didn't have the stomach for that kind of reach. These kids these days. Also, they were outbid w/in an hour and they knew it would happen. They called me about the offer and I said, "WTF are you doing buying a million dollar house?" They said, "Shut up old man. And don't worry; someone else is going to buy it." They absolutely knew they'd be outbid.
But then they remind me selling would require me to move out of the basement so I shut up.
In any case, I haven’t seen this kind of FOMO in real estate in awhile. -
Forgive our little Benny my Lady. He's only in the Club as part of a diversity program. We care.Doog_de_Jour said:
You’re married, right?BennyBeaver said:
I have a spare room in my basement. Rent is negotiable. 😉Doog_de_Jour said:
I’ve been pitching Race’s strategy to my parents. I’m really worried they won’t be able to sell their house if they wait much longer and I don’t like them pumping more money into maintaining a home if they don’t have to.creepycoug said:This is my fear reduced to a one-pager.
I especially fear this as it relates to buying up house again. I was going to pull the trigger, but a las the Finance Club voices wouldn't let me be and I thought the better of it.
I remembered what I said here when lamenting the American consumer: payments. They always think about payments. Not about owning.
So I go buy some 2.5 million house, or whatever, because I can finance it rather easily with the down pmt. I'll have to apply to the problem. Ok.
Then the Fed corrects (assuming that happens in my life-tim), and we all know housing is going to take it in the ass. Now, I own a, what, 2 million house? 1.8? IDK what the correction will be. But my fucking loan doesn't change. That's what the payments mentality gets you.
@RaceBannon has it right: sell now, rent and wait. I just don't have the balls for that.
There is a disconnect alright. I have not seen one single credible attempt by anyone to argue otherwise. You called this one early Houston.
Shit's getting worse by the day. My daughter and SIL offered on a house in Magnolia last week ... small, modest home. $1.2. ONE POINT FUCKING TWO. JFC. I like Magnolia, but come on.
Two things: when I was 29 years old, I didn't have the stomach for that kind of reach. These kids these days. Also, they were outbid w/in an hour and they knew it would happen. They called me about the offer and I said, "WTF are you doing buying a million dollar house?" They said, "Shut up old man. And don't worry; someone else is going to buy it." They absolutely knew they'd be outbid.
But then they remind me selling would require me to move out of the basement so I shut up.
In any case, I haven’t seen this kind of FOMO in real estate in awhile.
Also, Benny wouldn't know what to do with you if he had the chance. I see you leading him into a room and him slobbering on himself, shaking at the knees and blowing his junk in his pants before you even begin to unbutton you blouse. I'm afraid the you're too much woman for him @Doog_de_Jour . -
Projecting.creepycoug said:
Forgive our little Benny my Lady. He's only in the Club as part of a diversity program. We care.Doog_de_Jour said:
You’re married, right?BennyBeaver said:
I have a spare room in my basement. Rent is negotiable. 😉Doog_de_Jour said:
I’ve been pitching Race’s strategy to my parents. I’m really worried they won’t be able to sell their house if they wait much longer and I don’t like them pumping more money into maintaining a home if they don’t have to.creepycoug said:This is my fear reduced to a one-pager.
I especially fear this as it relates to buying up house again. I was going to pull the trigger, but a las the Finance Club voices wouldn't let me be and I thought the better of it.
I remembered what I said here when lamenting the American consumer: payments. They always think about payments. Not about owning.
So I go buy some 2.5 million house, or whatever, because I can finance it rather easily with the down pmt. I'll have to apply to the problem. Ok.
Then the Fed corrects (assuming that happens in my life-tim), and we all know housing is going to take it in the ass. Now, I own a, what, 2 million house? 1.8? IDK what the correction will be. But my fucking loan doesn't change. That's what the payments mentality gets you.
@RaceBannon has it right: sell now, rent and wait. I just don't have the balls for that.
There is a disconnect alright. I have not seen one single credible attempt by anyone to argue otherwise. You called this one early Houston.
Shit's getting worse by the day. My daughter and SIL offered on a house in Magnolia last week ... small, modest home. $1.2. ONE POINT FUCKING TWO. JFC. I like Magnolia, but come on.
Two things: when I was 29 years old, I didn't have the stomach for that kind of reach. These kids these days. Also, they were outbid w/in an hour and they knew it would happen. They called me about the offer and I said, "WTF are you doing buying a million dollar house?" They said, "Shut up old man. And don't worry; someone else is going to buy it." They absolutely knew they'd be outbid.
But then they remind me selling would require me to move out of the basement so I shut up.
In any case, I haven’t seen this kind of FOMO in real estate in awhile.
Also, Benny wouldn't know what to do with you if he had the chance. I see you leading him into a room and him slobbering on himself, shaking at the knees and blowing his junk in his pants before you even begin to unbutton you blouse. I'm afraid the you're too much woman for him @Doog_de_Jour .
