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  1. #22426
    Join Date
    Aug 2016
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    关你屁事
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    8,140
    Quote Originally Posted by sirbumpsalot View Post
    Inventory artificially held back by local governments and their NIMBY like slow growth laws. "We got ours....now close the gates"
    arent you for single family zoning cuck?

  2. #22427
    Join Date
    Mar 2006
    Posts
    19,217
    Rates will go back down. How long have the Central Banks been fighting deflation? Those forces will return. The new home builders are already starting to discount prices and mortgages. It will be cheaper to buy new soon and that will put pressure on resale prices.

  3. #22428
    Join Date
    Mar 2006
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    19,217
    Quote Originally Posted by Cono Este View Post
    I though I was going to sell my St Louis place, but with a 3.125% mortgage I think I’ll be renting it out for 28 more yrs instead.


    Sent from my iPhone using TGR Forums
    You can get a 20 year bond at 3.20%. Muni yields will get you a 6% equivalent. If you are going to get another mortgage somewhere else why risk lower prices on rental?

  4. #22429
    Join Date
    Jun 2020
    Location
    in a freezer in Italy
    Posts
    5,680
    Plus managing the rental from a distance. Think hard.

  5. #22430
    Join Date
    Dec 2009
    Location
    in a box on the porch
    Posts
    5,020
    Quote Originally Posted by 4matic View Post
    Rates will go back down. How long have the Central Banks been fighting deflation? Those forces will return. The new home builders are already starting to discount prices and mortgages. It will be cheaper to buy new soon and that will put pressure on resale prices.
    Gotta agree with this. Builders have a good bit of margin to play with.


    Sent from my iPhone using TGR Forums

  6. #22431
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    17,528
    Quote Originally Posted by ötzi View Post
    Plus managing the rental from a distance. Think hard.
    Depends, newer property, no deferred maintenance and really good insurance that covers plumbing issues, I would have a property mgr and go for it.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  7. #22432
    Join Date
    May 2020
    Posts
    31
    Quote Originally Posted by dan_pdx View Post
    I'm surprised people down there still have pools and lawns; my aunt and uncle in the Bay Area filled in their pool due to water restrictions.
    FIFY


    Sent from my iPhone using TGR Forums

  8. #22433
    Join Date
    Jun 2020
    Posts
    2,585
    Quote Originally Posted by Jen View Post
    FIFY


    Sent from my iPhone using TGR Forums
    Fixed what now?

  9. #22434
    Join Date
    Sep 2006
    Posts
    6,910
    Quote Originally Posted by J. Barron DeJong View Post
    Fixed what now?
    "it"
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  10. #22435
    Join Date
    Mar 2006
    Posts
    19,217
    It’s over in my hood: 95762. I can’t even count all the price reductions. A few are capitulating with second reductions way below average sf price for the area.

  11. #22436
    Join Date
    Aug 2006
    Posts
    7,512

  12. #22437
    Join Date
    Oct 2003
    Location
    slc
    Posts
    16,211
    Salt Lake County housing sales hit 10-year low
    https://www.ksl.com/article/50440360...ces-will-lower

  13. #22438
    Join Date
    Jun 2020
    Location
    in a freezer in Italy
    Posts
    5,680
    Quote Originally Posted by Dantheman View Post
    Salt Lake County housing sales hit 10-year low
    https://www.ksl.com/article/50440360...ces-will-lower
    Somewhat surprising, from that article, "It marks the 13th consecutive month of falling sales year over year,..".

  14. #22439
    Join Date
    Sep 2010
    Location
    Shuswap Highlands
    Posts
    3,823
    Somehow I don’t see prices to drop significantly across the market here for a bit for two reasons: first is that the underlying issues with supply are still there with new start permits, construction supply issues and the type of homes being built still not meeting market demand; and second that the recent rush of purchases that ran up the market in the first place - that being the cash sales for those seeking different locations for whatever reason coupled with the investment money now stuck with holding their investments - will avoid selling at a loss/until the cost of servicing the mortgage or maintenance of the property hit that magic number.

    Our hope is to find that sweet spot over the next year or so where a place comes up that has dropped enough that in relation to our current home, the difference in price between ours and theirs gets a bit more palatable. We are in a good position, but holding onto that cash down payment we’ve been holding from other long-term investment vehicles sure does cause an itch that is hard to keep from scratching.

  15. #22440
    Join Date
    Jan 2010
    Location
    2 hours from anything
    Posts
    10,119
    Quote Originally Posted by 4matic View Post
    It’s over in my hood: 95762. I can’t even count all the price reductions. A few are capitulating with second reductions way below average sf price for the area.
    Same in 95603. I’m hoping it keeps going, my parents are about to buy here, likely this fall. Luckily they will not need much financing.

  16. #22441
    Join Date
    Oct 2007
    Posts
    11,456
    Inventory up 60% here over last year. Which is a good thing. Shaking out the investors. I hope it continues. I just hope that a downturn doesn't stop or delay any affordable new builds in this area. Lots in planning.

  17. #22442
    Join Date
    Mar 2006
    Posts
    19,217
    The percentage US home for sale that have cut their asking price over the last 4 weeks is at the highest level we've seen since Redfin started tracking the data in 2015.

  18. #22443
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    27,996
    Quote Originally Posted by BCMtnHound View Post
    Somehow I don’t see prices to drop significantly across the market here

    Our hope is to find that sweet spot over the next year or so where a place comes up that has dropped enough that in relation to our current home, the difference in price between ours and theirs gets a bit more palatable.
    not sure what significant means or where you sit in the market but i think more be more like 2 yrs for the market to tank
    Lee Lau - xxx-er is the laziest Asian canuck I know

  19. #22444
    Join Date
    Sep 2010
    Location
    Shuswap Highlands
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    3,823
    Quote Originally Posted by XXX-er View Post
    not sure what significant means or where you sit in the market but i think more be more like 2 yrs for the market to tank
    That’s just it, I don’t think the market is going to ‘tank’ in the traditional sense. The underlying economic conditions that contributed to the general rise in prices are still there, especially in this small community - that primarily being inventory, and those buyers coming from the city to either retire, or work remote from a larger home/property in the sticks.

    We are also staying in that same market as a seller, so that also contributes to the equation. Thankfully, a 10% correction in prices affects those selling a higher valued property greater than it does us with a slightly lesser valued place. And we are not ‘investing’ per se as this is not a 2nd home, but will be our primary residence.

    We don’t need to wait until the absolute bottom of the cycle; market stability is the greater desire (and finding that place that tics all the boxes). Plan is to be mortgage free prior to my retirement in a decade or so.

  20. #22445
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    27,996
    till RE goes to the bottom & starts back up might be a better way to put it, even with rates rising I think that being in the position of selling/ buying is better in a falling market than in a rising market especialy a stupidly rising market

    junior is actualy doing much the same thing trying to trade up a little on the RE and I may have to help him with some interm financing

    AKA borrow some money to borrow some money
    Lee Lau - xxx-er is the laziest Asian canuck I know

  21. #22446
    Join Date
    Dec 2009
    Location
    The Mayonnaisium
    Posts
    9,827

  22. #22447
    Join Date
    Apr 2010
    Posts
    792
    Quote Originally Posted by Mazderati View Post
    Needs a dock


    Sent from my SM-G998U using Tapatalk

  23. #22448
    Join Date
    Sep 2010
    Location
    Shuswap Highlands
    Posts
    3,823
    Quote Originally Posted by VTeton View Post
    Needs a dock


    Sent from my SM-G998U using Tapatalk
    Jetty and mooring. That beach doesn’t look sheltered enough for a dock.

  24. #22449
    Join Date
    Sep 2006
    Posts
    6,910
    Quote Originally Posted by Mazderati View Post
    11 bdrm and only 6.5 bathrooms spells disaster. Otherwise not too bad for someone with a large family.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  25. #22450
    Join Date
    Feb 2008
    Posts
    2,165
    Quote Originally Posted by Toadman View Post
    11 bdrm and only 6.5 bathrooms spells disaster. Otherwise not too bad for someone with a large family.
    6.5 bathrooms is plenty as long as they add the jetty

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