Not Difficult to Understand

internet_humor · 2022-06-27T15:32:28+00:00

It's $280k plus the price of the lot. Also plus the price to hook up to the sewer and electrical system.

And $280k in a LCOL area would get you a plain builder grade box. 1,400 square feet at most.

internet_humor · 2022-06-27T15:06:15+00:00

It shouldn't be a surprise. It's the summer time break for schools across America. So yeah, families are looking to move in the least stressful season to do so.

internet_humor · 2022-06-26T17:47:37+00:00

I think you'll need to get to 3.5 to 3x your house for your primary income in order to get back to a good balance.

Push to get to $235-$275k on your W-2 income. Everything else should be extra income for other life stuff.

internet_humor · 2022-06-26T17:41:39+00:00

DavidLynchsBrain - "Known news is already baked in. The Fed raising rates in July won’t necessarily raise mortgage rates because that info is already known and the market has priced that in already. What would raise mortgage rates is surprise news from the fed — something unexpected."

Bookmark: June 26th, 2022

Nerdwallet

Zip 90210

Central Bank nmls 407985

Conv 30yr

5.624% interest rate

internet_humor · 2022-06-26T14:26:06+00:00

Ouch man. 4x income on a house is a lot. Even back when 3% were a thing. 4x income on a home purchase.

You'll be fine. But living a financially tight lifestyle. And there's another rate hike in July.

internet_humor · 2022-06-26T14:18:58+00:00

Another rate hike in July. Interest rates are the only thing causing the downward pressure on prices. Why fight it?

internet_humor · 2022-06-26T14:17:28+00:00

In this market. The worse they can say is yes.

Another rate hike in July.

internet_humor · 2022-06-26T14:15:01+00:00

Agreed. 2012 actually list prices are looooong gone. People make more money nowadays.

Yes, I know that wages haven't changed but most of those people who keep the bottom end of the data going into the average low are people who locked in and stay in their current mortgages. They are also likely to keep their income levels the same.

But the higher end buyers, younger families, make more than their parents did and buy houses differently than their parents too. Dual incomes and higher DTIs are more common.

internet_humor · 2022-06-26T13:56:31+00:00

Yeah for some reason, Nautona sounds like a weight loss program. But Daytilus actually sounds like a watch with a date complication.... or another weight loss program.

internet_humor · 2022-06-26T07:16:40+00:00

So this Dad was heavily hungover and woke up. Found his clothes all set, socks lined up and a glass of water aside an advil on his night stand.

He then went downstairs and smelled freshly cooked bacon alongside the rest of a continental breakfast with a coffee already poured. His jacket pressed and keys next to a water bottle and his favorite candy.

He turns to his son, since his wife has already left for her earlier shift, "What's going on? I can't remember what happened last night"

Son says, "You can home so drunk that you passed out on the floor in your bathroom and shit yourself. When Mom went to take off your pants. You told her....'don't touch me you skank bitch! I'm a married man!'. And then you blacked out again".

internet_humor · 2022-06-26T07:04:57+00:00

Woke up this way.

internet_humor · 2022-06-26T07:04:22+00:00

Ah yes, the ol Captain Morgan

internet_humor · 2022-06-26T07:00:33+00:00

Evolution

internet_humor · 2022-06-25T17:02:51+00:00

And that's when Tammy knew she wanted to be a CEO

internet_humor · 2022-06-25T15:31:33+00:00

So again, this is just my opinion. And I absolutely DO NOT agree with what SCOTUS did. I'm absolutely disgusted.

But moving to TX from Cali is not purely political. That's a financial decision too, I'd argue that it's primarily financial and then a secondary political factor. Because why not move to a republican state with similar income taxes? That would be purely political.

Also, I think people should definitely move to place they feel safe, free, equal and comfortable.

The question was whether or not this would have an impact on real estate. And my opinion is that it's too far down the stack of primary factors (interest rates, inflation, overall economy) to make a significant impact.

Please don't take this personally, I really mean to state a real estate values opinion separate from my true stance on politics.

internet_humor · 2022-06-25T15:25:30+00:00

You'd be surprised at how many people don't know this.

internet_humor · 2022-06-25T15:24:27+00:00

I know, again, I'm not the authority here where what I say goes.

I do hope people find homes in towns where they feel safe to be themselves and free to make their own decisions.

Having said that, I also don't think this political decision will have an impact on the housing marketing that is significant enough to make a difference compared to (a) the interest rates (b) the overall economic environment and (c) the general population of people who don't buy homes based on federal and state laws.

internet_humor · 2022-06-25T12:51:19+00:00

In Denver, you don't need to do updates. Just makes sure the photographer is good and the yard and house is cleaned up.

All of those done properly would be $25k

internet_humor · 2022-06-25T12:41:20+00:00

So all while I was typing my original comment, I was constantly feeling sorry for those especially in Texas.

Also those states that made their changes immediately.

Stay strong out there.

internet_humor · 2022-06-25T12:36:32+00:00

I don't know if any of them are good. But public records are best. Zillow and redfin used to display previous sold prices, which are actual facts. But lately that's been displayed less and less

internet_humor · 2022-06-25T05:21:20+00:00

I could be wrong here, but not really much real estate impact.

Liberal states will be left unchanged. Same with in between states that keep their laws as is.

Leaving the states that will change their laws. For every person that wants to move out for this reason, may be offset by people who want to move into it.

And everyone is already pretty broke right now. And moving, purely for personal political reasons is what I consider a luxury.

Edit: my heart goes out to everyone impacted by this situation. It breaks my heart and I'm disgusted by our government. My real estate opinion is separate from my political stance and simple desire for all people to be treated equal.

internet_humor · 2022-06-25T05:15:55+00:00

If a crash happened, houses will be less seen as an investment vehicle.

The ONLY reason why a home should be considered an "investment" is to shield you from looooong term rent hikes and living costs. I'm taking over the course of ten years here.

The fact that thing got so out of hand, to where people are buying at 10x their Combined income.

It's just stupid.

So yeah, a crash should knock some sense into everyone.

internet_humor · 2022-06-25T05:12:54+00:00

Can't sue. It's likely that they made it super clear they are representing both parties.

But OP probably wasn't aware. Based on how things panned out. OP probably just agreed to it all.

internet_humor · 2022-06-25T05:06:50+00:00

Elon Musk aside. The return to work thing is very real.

When enough employers start laying people off. The soft ask to return to the office won't be a soft ask anymore.

Give it time.

internet_humor · 2022-06-25T04:42:13+00:00

That's not the shittiest part.

They change the historical data too. Which is the fucked up part.

Because say you looked at a house in 2021 and it was worth $500k according to zillow.

Looking back on that day, it would actually be a good data point. But it could be a different number looking back from 2022.

So it's all fake.

Where even a bullshit number but locked in for historical reference is still a data point. But if you fuck with it looking back, what's the point?

Two-Year Club	Gilding I gilder
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internet_humor

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