Home Buying & Real Estate Thread

[Mark Antony]

That's dope.

 

[MakeNTGreatAgain]

Speaking of 2020 and Southern California– salute to all y’all who didn’t have no handouts along the way and made it on your own. I respect whatever it took for you to get here especially the ones who did it single

I know the sacrifices

Can’t believe it’s been 3 years already, beyond thankful everything fell into place how it did

bruh why i think those r onion rings

 

[Vincent Van Goat]

bruh why i think those r onion rings

That sounds amazing rn

 

[B Sox]

When is it gonna be a good time to buy a house. Someone tell me

Everything is still getting multiple offers around here, but the rates have definitely scared off some buyers. So you’re likely only competing with a couple other buyers for a property instead of 10+. Will be a bloodbath if/when rates dip back down into the mid 5-low 6 range.

If you have the money saved up and can afford the payment, it really isn’t a terrible time to jump in now and begin building equity.

Depending on how long you plan on living in the home, you could always refi if/when those rates do come down.

 

[spizike231]

bruh why i think those r onion rings

What are those if not onion rings

 

[sneakaprince]

Everything is still getting multiple offers around here, but the rates have definitely scared off some buyers. So you’re likely only competing with a couple other buyers for a property instead of 10+. Will be a bloodbath if/when rates dip back down into the mid 5-low 6 range.

If you have the money saved up and can afford the payment, it really isn’t a terrible time to jump in now and begin building equity.

Depending on how long you plan on living in the home, you could always refi if/when those rates do come down.

I hate to say it but this is a good time to consider ARM loans. The rate we're beating 30 year fixed rates and hopefully the economy is better in 5 years and the refinance will be easy enough.

 

[MakeNTGreatAgain]

What are those if not onion rings

idk but i know onion rings aren't packed in plastic, they gotta breathe!

 

[lovehateself]

What are those if not onion rings

Y’all ain’t ever seen cookies

 

[spizike231]

Y’all ain’t ever seen cookies

You’re gonna look me dead in my eye sockets and tell me you didn’t think those were onion rings at first glance?

 

[mplsdunk]

looks like fried green tomatoes to me.

 

[lovehateself]

You’re gonna look me dead in my eye sockets and tell me you didn’t think those were onion rings at first glance?

You got that right bud

 

[Raji Lowenthal]

You’re gonna look me dead in my eye sockets and tell me you didn’t think those were onion rings at first glance?

You got anymore of what you were smoking

 

[cs02132]

This is amazing. Beautiful af

 

[had pants]

 

[sneeker]

This is amazing. Beautiful af

 

[spizike231]

Seen a few TikTok’s now I guess rates are projected to start dropping in the next year.

Feel like we’ve heard this before but also feel like it may be time for things to simmer a bit.

If rates drop though isn’t that just going to jump prices and cause a feeding frenzy for all those who missed the train a few years back?

 

[you go boy]

thats why I wouldnt even consider flipping my place... even if I sell for profit the interest rates are ridiculous right now...I was lucky to get below 3 for my APR in 2021...

 

[ballinsam23]

Seems like we'll have a much higher supply now with more AirBnb bans going into place.

 

[oh you mad]

Lol my buddy bought his house in 2011 for 180k.. he refinanced at 2.8% in 2021 homes on his street sell for 700k+

really happy for him

Spoiler

 

[アミーゴ]

The kids born in 90, 91, 92 and 93 is the largest population surge in history (bigger than the baby boom).

Rates come down, supply will dwindle now that they have cash and are prepared to buy.

 

[lovehateself]

The kids born in 90, 91, 92 and 93 is the largest population surge in history (bigger than the baby boom).

Rates come down, supply will dwindle now that they have cash and are prepared to buy.

 

[MakeNTGreatAgain]

no cap

 

[アミーゴ]

Eye mean everyone I know that age is ready to go - just waiting on rates or so they say.

If you want to call them liars, idk what to tell you

Millennials now have the most wealth in America.

 

[spizike231]

My head hurts after reading that, then thinking of my millennial friends who half live at home with their parents and can’t afford an apartment or to make a car payment, and the other half just recently moved into their own apartment but their biggest priority is finding a girlfriend and that is proving to be a massive task.

Most millennials I know aren’t ready for a home purchase, financially or life stage wise. I think the idea of owning their own house obviously sounds amazing but they don’t know the first thing about buying a home.

 

[s0lefunk]

It makes me cringe when I hear prospective buyers waiting on a “crash” or rate drops. If you have the cash and there is a property you like then buy now. Do an ARM, buy points, plan to refinance later, etc. There are things you can do to limit the damage of high rates today.

The sub 3% rate is something we’ll likely never see again in our lifetime. Relying on pure speculation on one of if not the biggest purchase of your life doesn’t sound wise to me.