Home Buying / Housing Market Griefing Thread - You're going to rent until you die.

[Burned CDs]

I bought a Condo, and plan on refinishing it after finishing school, selling it for more, and then moving south.

In a city about two hours south of mine, a two story home is the same price as a one bedroom condo in my current city. And there's less of the undesirables and more growth in the south city.

 

[Uncle June]

I bought a Condo, and plan on refinishing it after finishing school, selling it for more, and then moving south.

In a city about two hours south of mine, a two story home is the same price as a one bedroom condo in my current city. And there's less of the undesirables and more growth in the south city.

Generally speaking, most of the market corrections will be in the cities. Suburbs and rural areas, while they too shall see drops, won't be as extreme. The cost of city living is simply absurd, and people are starting to realize it with the growing rates.

If you're willing to make a hell of a commute or strike a deal with per diem, moving to a less expensive area but continuing to work in the city is an excellent idea.

 

[mindlessobserver]

After the market gets corrected and supply costs for construction go down to a normal level, more people should hire local architects and construction to build a real home. Growing up I lived in a neighborhood of mostly historic homes with 2-3 beds and half baths (1920-30s) and they are all different in layout and design. It creates a more human looking setting with places people would feel at home with. Nowadays, we have suburban hellscapes that come in 4 layout options, built by mexicans who can't give a shit to make the exterior concrete smooth. Imagine looking at an angle to your house during sunrise and the walls look lumpy.

Ngl, the house I am living in was built in the 50s and was clearly made by one dude in the woods out of cinderblocks. It got renovated in the early 2000s and the prior owners did their own work before I bought. For example, the electrical outlets have USB ports. That little detail was what convinced me to gamble all my marbles on the place.

Literally living in a house built by 3 generations of good Ole boys on their own. Nothing is broken, everything is solid and works, if a bit unconventional. The AC repair guy (the one pro I had to call in) commented he could not make heads or tails of the set up. Clearly an Amateur DIY.

Somehow I think I am coming out ahead of every other mcmansion property. It's occurred to me that after I Pay off my mortgage, this house will be over 100 years old.

 

[Burned CDs]

Generally speaking, most of the market corrections will be in the cities. Suburbs and rural areas, while they too shall see drops, won't be as extreme. The cost of city living is simply absurd, and people are starting to realize it with the growing rates.

If you're willing to make a hell of a commute or strike a deal with per diem, moving to a less expensive area but continuing to work in the city is an excellent idea.

This is also a city, far from rural. It's slightly smaller, but the inner city is also smaller so there's a lot less crime and less tech bros. Most of the work there right now is blue collar but that's because it's expanding.

 

[Zbk3VmLfujjzjxBd43tL]

After the market gets corrected and supply costs for construction go down to a normal level, more people should hire local architects and construction to build a real home. Growing up I lived in a neighborhood of mostly historic homes with 2-3 beds and half baths (1920-30s) and they are all different in layout and design. It creates a more human looking setting with places people would feel at home with. Nowadays, we have suburban hellscapes that come in 4 layout options, built by mexicans who can't give a shit to make the exterior concrete smooth. Imagine looking at an angle to your house during sunrise and the walls look lumpy.

A lot of pre-WWII homes pretty much anywhere in the US have a lot of character. Even the ones falling apart on the outside you can at least imagine they'd be nice on the inside. Sometimes they go for cheap but I think it would feel awkward living where generations of the same family lived even if you spent 50-100K on renovations. All those old farmhouses no matter where you are have something houses built in the past few decades don't.

Problem is how much extra money you'd spend trying to build a home like they did 100 years ago compared to just picking a design from the catalog.

 

[Monkey_Fellow]

I just bought my first apartment, I live in a very closely populated country that can not keep up with demand. As of now, there are >100,000 starters waiting for a home.
So if you take that into account, buying a house really isn't a bad investment, even in this over saturated market.

 

[Post Reply]

After the market gets corrected and supply costs for construction go down to a normal level, more people should hire local architects and construction to build a real home. Growing up I lived in a neighborhood of mostly historic homes with 2-3 beds and half baths (1920-30s) and they are all different in layout and design. It creates a more human looking setting with places people would feel at home with. Nowadays, we have suburban hellscapes that come in 4 layout options, built by mexicans who can't give a shit to make the exterior concrete smooth. Imagine looking at an angle to your house during sunrise and the walls look lumpy.

I almost bought a newly built house in mid 2020 until I toured the neighborhood and saw the goofy shit the Mexican contractors were doing on other lots.

 

[Catler]

I bought an old house in 2020, just before COVID for ~75k on a few acres. It's not an amazing house and I'm very, very rural, but everything works, it's solid, and it's water tight. I could have done a lot worse and back then no one wanted this house, it sat on the market for half a year or more with multiple price reductions before I bought it, but today it'd be sold before it hit MLS.

At the time I thought I was making a giant mistake buying and deeply regretted it, but there was absolutly nowhere to rent so I was left with basically no option. In retrospect buying this house has been the best financial decision I ever made. The mortgage costs almost nothing, upkeep is minimal, and while house prices and rents have skyrocketed, I'm in the best financial shape of my life.

Thanks to this house my cost of living is so low I could survive on part time minimum wage if I absolutely had to with no issues. I worried I'd have less freedom owning a house and I do in terms of moving, but I have way more financial and day to day freedom.

 

[Puff]

I see these comments more as cope than anything else.

Mainly because the cost of purchasing a house is so far out of reach for most young people.

To not pl too much, while this is often true, it's in a lot of guys heads that it shouldn't be.
My mid 20s coworkers make about what I do and bitch how they'll never afford a home and are broke. This is only true because they spend their money on stupid shit and want homes in places their senior manager couldn't afford.
I realize I'm probably making lots of money for my age, but I bought a house this year and everyone around me makes what I do but can't afford it.
Prioritize and look at your budget before you rule it out. Look at different options, wait for a deal or a market retraction. Unless you live in one of the biggest cities in the US you can probably get something in the boonies you can do and commute.

 

[Just Some Other Guy]

This is only true because they spend their money on stupid shit

This is pretty much it for most people. They pay their essential bills and then blow most of what's left. Then they complain "I can't afford X" because "afford" means not budgeting a single cent of their fun money.

 

[♦️ King of Diamonds ♦️]

Home Ownership is a boomer scam regardless. You just enslave yourself to the bank for 30 years, you can't even do what you want with the property because of both homeowners associations and zoning laws, and at any time for any reason the bank can call in the loan in full and foreclose you.

Unironically the Soviet system of krushevskas (aka "commie-bloc apartments") was better. Housing was guaranteed and issued by the state to all adults and rent was covered by your taxes. Certain people who contributed to society in immense ways like veterans, politicians, and scientists got more square feet- as well as those with families. The apartments were lacking in many things- but at least nobody was homeless.

 

[DeadwastePrime]

Home Ownership is a boomer scam regardless. You just enslave yourself to the bank for 30 years, you can't even do what you want with the property because of both homeowners associations and zoning laws, and at any time for any reason the bank can call in the loan in full and foreclose you.

Unironically the Soviet system of krushevskas (aka "commie-bloc apartments") was better. Housing was guaranteed and issued by the state to all adults and rent was covered by your taxes. Certain people who contributed to society in immense ways like veterans, politicians, and scientists got more square feet- as well as those with families. The apartments were lacking in many things- but at least nobody was homeless.

congrats youve just triggered a&n autists who will disagree with what you just said

 

[Monkey_Fellow]

Debt max and try to make enough money, so you can buy your house in cash.

 

[Colloid]

Home Ownership is a boomer scam regardless. You just enslave yourself to the bank for 30 years, you can't even do what you want with the property because of both homeowners associations and zoning laws, and at any time for any reason the bank can call in the loan in full and foreclose you.

The average American wage can easily pay off the average suburb/non-inner city home in less than 30yrs time if they aren't fiscally inept. You'll have plenty of freedom to play around with a property if you avoid HOAs and states/counties with autistic zoning rules. A bank isn't going to recall a mortgage 99% of the time if you're current on it since they make more money off of you paying the loan+interest vs foreclosing, maintaining/touching up the property, and reselling to someone else.

Commieblocks sound good on paper if you don't care about privacy or don't own much of anything, but are complete ass otherwise. Thin walls means you can hear your neighbors constantly and vice versa so you never have any real sense of privacy. Limited floorspace means little room for personal belongings which becomes a problem when you get to the point in life where you have enough stuff to fill a proper house. Maintenance and logistics like parking/plumbing are a more expensive and invasive nightmare because you're cramming too many people into too little space. No yard so no space for anything that could make you better prepared/more independent like husbandry, personal septic systems, etc.

Good for you if you don't mind living like that, but you couldn't pay me to live in one of those shitty broom closets. I like having my own space and not having to live shoulder to shoulder with niggers, druggies, and other such invalids.

 

[Least Concern]

Home Ownership is a boomer scam regardless. You just enslave yourself to the bank for 30 years,

Enslaved how? You have to pay them? You have to pay a landlord too.

you can't even do what you want with the property because of both homeowners associations and zoning laws,

You can still do more than you can do in an apartment.

and at any time for any reason the bank can call in the loan in full and foreclose you.

…and at any time for any reason your landlord can kick you out. And actually they can't foreclose "for any reason;" only if you're in arrears. Finding buyers for foreclosed houses is annoying; why would they foreclose on someone who's not in arrears when they instead could just sit back and let the checks continue to come in?

You've done a real poor job of showing how this is really worse than renting. I won't even entertain your suggestion of Soviet-style housing.

 

[Grotesque Bushes]

I've bought my place 5 years ago, and it's been a wild ride. In that time prices in my area have doubled as demand skyrocketed, so now I'm paying off my mortgage for ~70% of what I'd have to pay to rent this home while knocking off years till the place will be truly mine, and the only costs will be insurance and utility bills. Even with the current hellish condition of the housing market I'm convinced that I want to eventually buy 1-2 more properties for rent to start building generational wealth, cause the leg up this can give to my kids is enormous.

Also, someone was talking shit about laminate floors a couple pages back, and I'll defend my lady's honor. My bathroom threshold wasn't put in right and water was seeping into the hallway, noticed it when the floor started buckling. Tearing out the affected section took maybe 15 minutes, cutting new panels to size and putting them in after the floor was dried up was another hour of work, and the overall repair cost was maybe fifty bucks. Sure, it doesn't look as good and isn't as durable as hardwood, but it costs a fraction of the price, is easier to repair and even a retard can't fuck up laying it down.

 

[Never Scored]

Home Ownership is a boomer scam regardless. You just enslave yourself to the bank for 30 years, you can't even do what you want with the property because of both homeowners associations and zoning laws, and at any time for any reason the bank can call in the loan in full and foreclose you.

This is a retarded never lived outside a major American metro area take.

You can buy land or a house someone more rural, not even have a mortgage and not have to deal with any of the other shit you mentioned either.

I agree that people who buy houses only to be under a HOA are retarded, but I'm pretty sure most places outside US metropolitan areas don't even have them.

 

[eternal dog mongler]

Also, someone was talking shit about laminate floors a couple pages back, and I'll defend my lady's honor. My bathroom threshold wasn't put in right and water was seeping into the hallway, noticed it when the floor started buckling. Tearing out the affected section took maybe 15 minutes, cutting new panels to size and putting them in after the floor was dried up was another hour of work, and the overall repair cost was maybe fifty bucks. Sure, it doesn't look as good and isn't as durable as hardwood, but it costs a fraction of the price, is easier to repair and even a retard can't fuck up laying it down.

Takes a bit longer with click lock engineered hardwood (since you need to start pulling from the room edge) but it's basically the same concept

Except it doesn't look fake

 

[Grotesque Bushes]

Takes a bit longer with click lock engineered hardwood (since you need to start pulling from the room edge) but it's basically the same concept

Except it doesn't look fake

Alright, I might be getting lost in the terminology here, but as far as I'm concerned engineered wood is laminate flooring.

 

[heathercho]

I bought an old house in 2020, just before COVID for ~75k on a few acres. It's not an amazing house and I'm very, very rural, but everything works, it's solid, and it's water tight. I could have done a lot worse and back then no one wanted this house, it sat on the market for half a year or more with multiple price reductions before I bought it, but today it'd be sold before it hit MLS.

At the time I thought I was making a giant mistake buying and deeply regretted it, but there was absolutly nowhere to rent so I was left with basically no option. In retrospect buying this house has been the best financial decision I ever made. The mortgage costs almost nothing, upkeep is minimal, and while house prices and rents have skyrocketed, I'm in the best financial shape of my life.

Thanks to this house my cost of living is so low I could survive on part time minimum wage if I absolutely had to with no issues. I worried I'd have less freedom owning a house and I do in terms of moving, but I have way more financial and day to day freedom.

I've been looking at buying houses for a few years, but the homes even in the shitty parts of where I live are nearly $1mAUD.
For a mildly decent suburb - not a great one, but good enough, are over $1mAUD for 3 bedrooms. New builds are way over that.

Apartments are not an option,. they're either full of Indians and Africans or cost more than the houses.

You absolutely made the right choice, $75k- on a few acres sounds amazing, no matter where you are.
We sold my grandparents home which was on 1/2 acre recently and it went for well over $3mAUD last year. Their original buy was a few acres for $100kAUD 25 years ago. Yours will no doubt rise in value too. As more people spread out over the world, rural areas will be sort after.