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Thread: Housing market

  1. #1
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    Housing market

    Saw an article today that firms like blackrock are buying houses for 20-50% over asking. I think it’s time to ban single family home investments if you have an AUM of over $100,000,000. When people are being forced to rent because they can’t compete with these mega firms, you have a problem

  2. #2
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    These home buying parasites are awful.
    "You people have too much time on your hands." - scottryan

  3. #3
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    All part of the Great Reset. You’ll nothing and you’ll like it.


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  4. #4
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    This kind of market never ends well. Unless you're standing on the sidelines with cash when the meltdown happens.

  5. #5
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    Yep.

    Sitting on a modest pile of cash now, waiting for reality to hit.

  6. #6
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    Houses in my area are selling 20 to $50K over asking in two days, or 2 hrs. It's so out of control. My real estate buddy said "people want to sell their houses but can't imagine trying to buy the following week. Ads say, "sell us your house and live in it another 6 months if you want".

    Its just nuts

    PB
    "Air Force / Policeman / Fireman / Man of God / Friend of mine / R.I.P. Steve Lamy"

  7. #7
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    Got a buddy trying to find his first house in the median range price market.

    He's put in offers $10k above the ask price and is still losing out. It's crazy.

    Glad I bought mine when I did. Great time to sell if you plan to downsize or whatever. Terrible time to attempt any kind of lateral move.

    Those sitting on houses since the 2008 crash are gonna be happy. But wall street will probably create another bubble and break it.
    It's hard to be a ACLU hating, philosophically Libertarian, socially liberal, fiscally conservative, scientifically grounded, agnostic, porn admiring gun owner who believes in self determination.

    Chuck, we miss ya man.

    كافر

  8. #8
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    Probably?!


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  9. #9
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    I hope to leave my house feet first so the value doesn't much matter as far as selling. Unfortunately, the county is assessing property values for tax purposes.

    Building materials aren't cheap. April 28 2021: National Association of Home Builders, lumber prices have tripled over the past 12 months and have caused the price of an average new single-family home to increase by $35,872

  10. #10
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    I am trying to build a house. Tried last year but had financing issues due to a bottom dwelling knuckle dragger low bid appraiser the bank chose -- full of factual error and when challenged on it said "not debatable." Anyway, so had to up my budget at least 10% but we got approved in 7 weeks and close this Friday. Trying tos et up with my contractor friend who is running the job to get stuff done and it is hard to find people to do things. For example, his normal excavator is normally 2 weeks notice but is hopelessly behind right now and so we are trying to find someone else who can dig. We are doing ICF externally but framed internally and my framer says that manufactured stuff like TJI joists are impossible to get now. He is talking with the engineer to re-engineer parts to use parallel chord trusses in the floor and roof (home is airtight with ventilation system, no attic, all vaulted, so normal roof trusses are not used)... Normal lumber is 3-4 months or maybe more.

    We'll see how it goes.
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