I was so close and now I’m shut out

[Anonymous]

Anonymous wrote:They’re all nice. The only thing wrong with them is the price tag. There is no way any of these places should be more than $750-800K, it’s the disconnect between how long and how much it takes to bay & finance a place like this now, vs the value for that cost. These are clear started homes that now cost as much as a move up home.

1. 750-800k is not “starter home” territory for most.

2. These are all well-maintained homes that can comfortably fit a family, and in good locations.

3. Supply, demand, and the overall market would suggest these may be priced what they “should” be.

Listen, it’s not like I don’t understand frustration with the market we live in. We moved here from Texas and waited far “too long” to buy because we were flabbergasted at the prices/options. (We probably just would have…died if life took us to LA or the Bay Area, I guess.) But then we realized the housing market is what it is and we found a place we were happy to call home. We made some compromises, some that we never envisioned making when we first moved here. But we love our home and are thankful for it.

As a society, we need to invest in a lot more affordable housing as well as densely populated communities with a lot of different types of housing. And we need to disrupt the idea that one is lesser for renting or living in a condo or townhouse. There are obviously a lot of structural changes that need to occur—but shaking one’s fist at the current market will just lead to misery.

[Anonymous]

People! Inflation ticked along at a steady ~2% for literally twenty years, then *tripled* in two years. If you’re not dumbstruck and blindsided you’re eithe sitting on a <3% mortgage or not paying attention.

[Anonymous]

Anonymous wrote:They’re all nice. The only thing wrong with them is the price tag. There is no way any of these places should be more than $750-800K, it’s the disconnect between how long and how much it takes to bay & finance a place like this now, vs the value for that cost. These are clear started homes that now cost as much as a move up home.

Well, they are homes OP can afford if she really wants to buy!

[Anonymous]

Anonymous wrote:

Anonymous wrote:They’re all nice. The only thing wrong with them is the price tag. There is no way any of these places should be more than $750-800K, it’s the disconnect between how long and how much it takes to bay & finance a place like this now, vs the value for that cost. These are clear started homes that now cost as much as a move up home.

1. 750-800k is not “starter home” territory for most.

2. These are all well-maintained homes that can comfortably fit a family, and in good locations.

3. Supply, demand, and the overall market would suggest these may be priced what they “should” be.

Listen, it’s not like I don’t understand frustration with the market we live in. We moved here from Texas (We probably just would have…died if life took us to LA or the Bay Area, I guess.) But then we realized the housing market is what it is and we found a place we were happy to call home. We made some compromises, some that we never envisioned making when we first moved here. But we love our home and are thankful for it.

As a society, we need to invest in a lot more affordable housing as well as densely populated communities with a lot of different types of housing. And we need to disrupt the idea that one is lesser for renting or living in a condo or townhouse. There are obviously a lot of structural changes that need to occur—but shaking one’s fist at the current market will just lead to misery.

Haha, we experienced the same thing when we moved here 20 years ago. My spouse was insulted by what he could get for the money at the time and told me he would “not play this game.” Lol, we ended up buying something of lesser quality for 50% more than if we have gotten it two years prior. This has cost us housing wise in more ways that one ever since. Meaning, although we live in the neighborhood we wanted but not the house in size and quality we desired. Lesson learned.

[Anonymous]

I have some sympathy. If we bought our house today, the rate increase coupled with the price increase would increase our monthly payment by 3500. Granted, we bought in 2014, but it does put in perspective the difficulty of breaking into the market at the moment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:They’re all nice. The only thing wrong with them is the price tag. There is no way any of these places should be more than $750-800K, it’s the disconnect between how long and how much it takes to bay & finance a place like this now, vs the value for that cost. These are clear started homes that now cost as much as a move up home.

1. 750-800k is not “starter home” territory for most.

2. These are all well-maintained homes that can comfortably fit a family, and in good locations.

3. Supply, demand, and the overall market would suggest these may be priced what they “should” be.

Listen, it’s not like I don’t understand frustration with the market we live in. We moved here from Texas (We probably just would have…died if life took us to LA or the Bay Area, I guess.) But then we realized the housing market is what it is and we found a place we were happy to call home. We made some compromises, some that we never envisioned making when we first moved here. But we love our home and are thankful for it.

As a society, we need to invest in a lot more affordable housing as well as densely populated communities with a lot of different types of housing. And we need to disrupt the idea that one is lesser for renting or living in a condo or townhouse. There are obviously a lot of structural changes that need to occur—but shaking one’s fist at the current market will just lead to misery.

Haha, we experienced the same thing when we moved here 20 years ago. My spouse was insulted by what he could get for the money at the time and told me he would “not play this game.” Lol, we ended up buying something of lesser quality for 50% more than if we have gotten it two years prior. This has cost us housing wise in more ways that one ever since. Meaning, although we live in the neighborhood we wanted but not the house in size and quality we desired. Lesson learned.

My DH did something similar when we bought in 2017. He was deadset on a 15 year mortgage at 2k per month. That landed us in a small TH that we quickly outgrew. Had he stretched a bit to maybe 2500 on a 30 year, we could have bought a nice SFH. Now that nice SFH is way out of budget.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:They’re all nice. The only thing wrong with them is the price tag. There is no way any of these places should be more than $750-800K, it’s the disconnect between how long and how much it takes to bay & finance a place like this now, vs the value for that cost. These are clear started homes that now cost as much as a move up home.

1. 750-800k is not “starter home” territory for most.

2. These are all well-maintained homes that can comfortably fit a family, and in good locations.

3. Supply, demand, and the overall market would suggest these may be priced what they “should” be.

Listen, it’s not like I don’t understand frustration with the market we live in. We moved here from Texas (We probably just would have…died if life took us to LA or the Bay Area, I guess.) But then we realized the housing market is what it is and we found a place we were happy to call home. We made some compromises, some that we never envisioned making when we first moved here. But we love our home and are thankful for it.

As a society, we need to invest in a lot more affordable housing as well as densely populated communities with a lot of different types of housing. And we need to disrupt the idea that one is lesser for renting or living in a condo or townhouse. There are obviously a lot of structural changes that need to occur—but shaking one’s fist at the current market will just lead to misery.

Haha, we experienced the same thing when we moved here 20 years ago. My spouse was insulted by what he could get for the money at the time and told me he would “not play this game.” Lol, we ended up buying something of lesser quality for 50% more than if we have gotten it two years prior. This has cost us housing wise in more ways that one ever since. Meaning, although we live in the neighborhood we wanted but not the house in size and quality we desired. Lesson learned.

My DH did something similar when we bought in 2017. He was deadset on a 15 year mortgage at 2k per month. That landed us in a small TH that we quickly outgrew. Had he stretched a bit to maybe 2500 on a 30 year, we could have bought a nice SFH. Now that nice SFH is way out of budget.

He's stupid, always stretch as much as possible to buy a sfh in a good school district especially when you are before 50

[Anonymous]

Anonymous wrote:I have some sympathy. If we bought our house today, the rate increase coupled with the price increase would increase our monthly payment by 3500. Granted, we bought in 2014, but it does put in perspective the difficulty of breaking into the market at the moment.

OP could afford the 3500 today, or even more. OP is upset that she can no longer get the $1.2 mil SFH she wanted because it's now $1.7 mil. She would instead have to take the $1.2 mil house today (that used to be less a couple years ago), and that just won't do, so she'll rent forever and never make it to the UMC.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have some sympathy. If we bought our house today, the rate increase coupled with the price increase would increase our monthly payment by 3500. Granted, we bought in 2014, but it does put in perspective the difficulty of breaking into the market at the moment.

OP could afford the 3500 today, or even more. OP is upset that she can no longer get the $1.2 mil SFH she wanted because it's now $1.7 mil. She would instead have to take the $1.2 mil house today (that used to be less a couple years ago), and that just won't do, so she'll rent forever and never make it to the UMC.

She can’t get that either because interest rates are twice as much.

If you wanted a $50k car and saved $40,000 for it and when you went to the dealership they said “oh, now it’s actually $120,000”, how would you feel? Let this woman grieve for a bit. No need to be mean.

[Anonymous]

Oh brother.

[Anonymous]

I hope none of you OP bashers ever complain about anything in your life ever. I guarantee you every single one if you has a better standard of living than 90% of the people on this planet. There is always someone who is worse off than you. if the rule is you can't be sad about anything if you are richer than someone else, don't ever be sad.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have some sympathy. If we bought our house today, the rate increase coupled with the price increase would increase our monthly payment by 3500. Granted, we bought in 2014, but it does put in perspective the difficulty of breaking into the market at the moment.

OP could afford the 3500 today, or even more. OP is upset that she can no longer get the $1.2 mil SFH she wanted because it's now $1.7 mil. She would instead have to take the $1.2 mil house today (that used to be less a couple years ago), and that just won't do, so she'll rent forever and never make it to the UMC.

She can’t get that either because interest rates are twice as much.

If you wanted a $50k car and saved $40,000 for it and when you went to the dealership they said “oh, now it’s actually $120,000”, how would you feel? Let this woman grieve for a bit. No need to be mean.

I think we all acknowledge it would be disappointing. I think we also can agree that she is still better off being able to buy a car of some sort, when many, many others are now ACTUALLY priced out and will have to keep taking the public bus.

Her post was tone deaf and entitled.

[Anonymous]

Anonymous wrote:I hope none of you OP bashers ever complain about anything in your life ever. I guarantee you every single one if you has a better standard of living than 90% of the people on this planet. There is always someone who is worse off than you. if the rule is you can't be sad about anything if you are richer than someone else, don't ever be sad.

You can be sad, but you can also realize that verbalizing your complaints to those who have much less and would love to have your "problems" will not gain you much sympathy.

[Anonymous]

Anonymous wrote:I hope none of you OP bashers ever complain about anything in your life ever. I guarantee you every single one if you has a better standard of living than 90% of the people on this planet. There is always someone who is worse off than you. if the rule is you can't be sad about anything if you are richer than someone else, don't ever be sad.

Tell that to OP

[Anonymous]

Anonymous wrote:They’re all nice. The only thing wrong with them is the price tag. There is no way any of these places should be more than $750-800K, it’s the disconnect between how long and how much it takes to bay & finance a place like this now, vs the value for that cost. These are clear started homes that now cost as much as a move up home.

The physical house itself is largely irrelevant. You could build the most beautiful house in rural Kentucky and it’d sell for $300k max.

Land has value.