Close
Page 3 of 6 FirstFirst 123456 LastLast
Results 21 to 30 of 52
  1. #21
    Grand Master Know It All
    Join Date
    Jun 2014
    Location
    Centennial
    Posts
    2,986

    Default

    I would never pay for my house what I could sell it for. It's not trashed by any means, 1600 sq ft including an unfinished basement, built in 1965, some updating would be nice and a fresh coat of paint and new carpet in the two areas that have carpet. It's just a nice single family home on 1/2 acre with a big back yard, great neighbors and a really great neighborhood. I hope to still be able to stay here when I retire.

    Yes, it's the down payment that people can't come up with in order to purchase their first home. I don't see how my younger son and his soon to be wife will ever be able to buy a home. Everything that goes up must go down. We've been through housing price bursts before and will again.
    Last edited by Doc45; 07-28-2021 at 16:12.

  2. #22
    Industry Partner BPTactical's Avatar
    Join Date
    Dec 2009
    Location
    North Metro
    Posts
    13,914

    Default

    I moved last November.
    My house has already picked up $100k in value.
    I am thankful that I was able put a huge amount down and the sellers sold for asked price.
    Even if the bubble bursts (and it will) the market would have to seriously tank to come close to the modest mortgage we have.
    It is nuts, 3 homes in our immediate hood have all sold in the last 3 months for $25-50k over asking.
    Last edited by BPTactical; 07-28-2021 at 16:20.
    The most important thing to be learned from those who demand "Equality For All" is that all are not equal...

    Gun Control - seeking a Hardware solution for a Software problem...

  3. #23
    Zombie Slayer MrPrena's Avatar
    Join Date
    Mar 2007
    Location
    Thornton
    Posts
    6,633

    Default

    I bought a house during financial crisis and bought it at "short"
    it was amazing to bid on a house lower than asking back then. I just cannot buy another house at a market like this.

    waiting for another 2008-2011.

  4. #24
    Zombie Slayer
    Join Date
    Sep 2009
    Location
    Pueblo
    Posts
    6,926

    Default Supply and Demand

    After the COVID quantitative easing the Federal Reserve is going to raise the prime rate. Too much money chasing too little goods and services. The price of money will go up ie borrowing will cost a lot more. Then the real estate bubble will burst. Unless there is a new form of wealth distribution, Federal Digital Currency. Then there might be a equitable solution. Until then the .gov will protect Wall Street before they protect you.
    Per Ardua ad Astra

  5. #25
    Grand Master Know It All Sawin's Avatar
    Join Date
    Aug 2011
    Location
    144th & I25
    Posts
    3,922

    Default

    If we sell, we will leave the state and buy elsewhere… we’ve just been lucky (and insightful) on timing to far. I bought in may 2008, sold it in April 2017, and rolled that huge equity over into a much larger place on the other side of I25… it’s now a quarter million more than it was when we bought it so should be able to sell and never have a mortgage again in a place like KY or TN, on some land….

    That’s my hope at least… just gonna see what happens for a few more years while the kids keep growing
    Please leave any relevant feedback here:
    Sawin - Feedback thread.

  6. #26
    Grand Master Know It All Sawin's Avatar
    Join Date
    Aug 2011
    Location
    144th & I25
    Posts
    3,922

    Default

    And in case nobody’s noticed, the prices of everything are higher as a result of all the massive cash creation over the last 6-8 years
    Please leave any relevant feedback here:
    Sawin - Feedback thread.

  7. #27
    Machine Gunner whitewalrus's Avatar
    Join Date
    Sep 2009
    Location
    Colorado Springs
    Posts
    1,869

    Default

    Quote Originally Posted by Sawin View Post
    And in case nobody?s noticed, the prices of everything are higher as a result of all the massive cash creation over the last 6-8 years
    This, but housing is beyond insane and normally accounts for a large percentage of the average persons spending.


    Sent from my iPhone using Tapatalk

  8. #28
    Gong Shooter
    Join Date
    Jan 2017
    Location
    Fort Collins, CO
    Posts
    324

    Default

    Quote Originally Posted by Doc45 View Post
    I would never pay for my house what I could sell it for. It's not trashed by any means, 1600 sq ft including an unfinished basement, built in 1965, some updating would be nice and a fresh coat of paint and new carpet in the two areas that have carpet. It's just a nice single family home on 1/2 acre with a big back yard, great neighbors and a really great neighborhood. I hope to still be able to stay here when I retire.

    Yes, it's the down payment that people can't come up with in order to purchase their first home. I don't see how my younger son and his soon to be wife will ever be able to buy a home. Everything that goes up must go down. We've been through housing price bursts before and will again.
    I see it the same way. I bought mine in 2008 for 158k. (78 build 1400 sqft on an 8k lot)a few months ago I bought a riding now down the street from me. They had moved to Florida and were asking 490k for it same floor plan just a 2 car garage vs 1 car and about 300sqft more back yard. Sold In Less than a week. I would never pay that for my house

  9. #29
    The "Godfather" of COAR Great-Kazoo's Avatar
    Join Date
    Sep 2003
    Location
    Washboard Alley, AZ.
    Posts
    48,077

    Default

    Quote Originally Posted by Sawin View Post
    And in case nobody’s noticed, the prices of everything are higher as a result of all the massive cash creation over the last 6-8 years
    Prices are higher due to demand, outpacing supply. Yes trumps time in office helped, however this clown we have now, who knows what will happen.
    The Great Kazoo's Feedback

    "when you're happy you enjoy the melody but, when you're broken you understand the lyrics".

  10. #30
    Machine Gunner clodhopper's Avatar
    Join Date
    Oct 2011
    Location
    Rural Weld County, Colorado
    Posts
    1,245

    Default

    Quote Originally Posted by BushMasterBoy View Post
    After the COVID quantitative easing the Federal Reserve is going to raise the prime rate. Too much money chasing too little goods and services. The price of money will go up ie borrowing will cost a lot more. Then the real estate bubble will burst. Unless there is a new form of wealth distribution, Federal Digital Currency. Then there might be a equitable solution. Until then the .gov will protect Wall Street before they protect you.
    That is the normal or traditional pattern. But much of the federal debt is tied to the interest rate, ie what the .gov pays in debt service. Not all of it is at a locked rate. The fed wont willy nilly raise interest rates as it also raises the debt service that comes right off the top of tax receipts. That downward pressure on rates will keep them lower than would otherwise be logical. We wont see Jimmy Carter interest rates because it will collapse the economy from the debt service. Currently the solution is to BRRRR run the money printers. Some other stupid solution will come after this. Raising the rates, the logical response, will be avoided at all costs. So this housing bubble, based on cheap money, will extend longer than it would otherwise.
    Last edited by clodhopper; 07-28-2021 at 18:09.
    14 . Always carry a change of underwear.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •