Remember all the dorks spamming last year real estate was going to crash?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Except rent keeps going up year after year, to keep up with the market.

Still better than buying at the current interest rates and having 80% of your mortgage payment go to interest. Plus the transaction costs of buying and maintenance costs. Rents don't increase at this rate. It is much smarter financial decision to rent and invest any potential downpayment right now for those who do not own. Owning is way overrated in general and massively more so in the current scenario.

No, sharing walls and owning nothing is not better at all. It's demoralizing. And life is short.

We share a wall and barely hear anything even when our neighbors have contractors working in their house.

You're coping. Classic defense mechanism.

[Anonymous]

Home prices will not just keep going up, indefinitely uninterrupted. All asset classes go up and down. There’s no such thing as always going up.

For the record, I’ve made over 1M in capital gains on multiple properties in the last 4 years and own my own house, which I’m sitting on 30% appreciation on over purchase price and own a rental with about 20% appreciation and cash flow covering expenses. I fundamentally don’t want prices to decrease, but a dispassionate objective analysis dissuades me from buying more real estate, or even investing significantly in my current properties.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Except rent keeps going up year after year, to keep up with the market.

Still better than buying at the current interest rates and having 80% of your mortgage payment go to interest. Plus the transaction costs of buying and maintenance costs. Rents don't increase at this rate. It is much smarter financial decision to rent and invest any potential downpayment right now for those who do not own. Owning is way overrated in general and massively more so in the current scenario.

No, sharing walls and owning nothing is not better at all. It's demoralizing. And life is short.

What is demoralizing about a growing investment account, no maintenance headaches and the flexibility to move wherever you want whenever you want? Renting has a lot of advantages. At the current rates people mostly just own a giant debt to the bank. The only appealing things are the stability and the ability to do whatever renovation/decoration decisions you want. Not everyone cares about that though.

[Anonymous]

Real estate agents are busy on DCUM today.

[Anonymous]

In retrospect of course it now seems that it was a good decision to buy. However, when you see a house increase from $1.2 to $1.8 in a matter of just a few years, it is hard not to wonder if the buyer could be overpaying. This does not seem to be a normal rate of increase for housing - especially when mortgage rates went up at the same time.

[Anonymous]

Anonymous wrote:In retrospect of course it now seems that it was a good decision to buy. However, when you see a house increase from $1.2 to $1.8 in a matter of just a few years, it is hard not to wonder if the buyer could be overpaying. This does not seem to be a normal rate of increase for housing - especially when mortgage rates went up at the same time.

agree. this isn't a normal market at all. i don't really see any reason that prices will come down (at least not right now) but this certainly isn't the norm.

[Anonymous]

It's not always about the quality of the investment. If you'd like to own a home, you have to make a decision about whether it makes sense to buy now lest you get priced out later on.

Yes, you can always rent, but rents go up, landlords decide to sell, etc. -- you are not in charge of your fate, which matters if, say, you've got kids in the local schools.

[Anonymous]

Just came here to say thanks for using the term "dorks" OP. Totally took me back to the 80's and made me smile.

[Anonymous]

I’m up 6.7% YoY since I bought my house. Below inflation. This is the “crash” in the land of housing shortages

[Anonymous]

Anonymous wrote:Anyone who waited on the sideline made a disastrous decision. Home values are up from year-ago levels in 47 of the 50 largest metro areas, per Zillow.

Annual price gains are highest in Hartford (12.2%), San Diego (9.6%), Providence (8.3%), Boston (8%), and Los Angeles (7.4%).

These predictions have been like an annual event here going back at least a decade.

[Anonymous]

Anonymous wrote:It's not always about the quality of the investment. If you'd like to own a home, you have to make a decision about whether it makes sense to buy now lest you get priced out later on.

Yes, you can always rent, but rents go up, landlords decide to sell, etc. -- you are not in charge of your fate, which matters if, say, you've got kids in the local schools.

Buy now or be priced out forever!!! Prices never do down!!! Marry the house, date the rate!!!

[Anonymous]

The people without a pot to piss in are always the most vocal “experts.”

[Anonymous]

Anonymous wrote:It's not always about the quality of the investment. If you'd like to own a home, you have to make a decision about whether it makes sense to buy now lest you get priced out later on.

Yes, you can always rent, but rents go up, landlords decide to sell, etc. -- you are not in charge of your fate, which matters if, say, you've got kids in the local schools.

Even aside from being priced out, life is short. You, your spouse and kids are not getting back those 12 24 36 48 60 plus months you’ve flushed down the drain in a crummy living situation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's not always about the quality of the investment. If you'd like to own a home, you have to make a decision about whether it makes sense to buy now lest you get priced out later on.

Yes, you can always rent, but rents go up, landlords decide to sell, etc. -- you are not in charge of your fate, which matters if, say, you've got kids in the local schools.

Even aside from being priced out, life is short. You, your spouse and kids are not getting back those 12 24 36 48 60 plus months you’ve flushed down the drain in a crummy living situation.

I agree with this, but be careful not to buy a s***shack that's going to make you want to move again in 12 24 36 48 60 plus months.

[Anonymous]

Anonymous wrote:Home prices will not just keep going up, indefinitely uninterrupted. All asset classes go up and down. There’s no such thing as always going up.

For the record, I’ve made over 1M in capital gains on multiple properties in the last 4 years and own my own house, which I’m sitting on 30% appreciation on over purchase price and own a rental with about 20% appreciation and cash flow covering expenses. I fundamentally don’t want prices to decrease, but a dispassionate objective analysis dissuades me from buying more real estate, or even investing significantly in my current properties.

In general, sure.

But when you're talking about SFHs in desirable DC locations it's about as sure a bet as you can get. Considering even 2008 was but a momentary blip for NW/Arlington/Bethesda there would have to be a complete and utter collapse of the entire US economy to crash home prices there and if that happens your house value is going to be the least of your worries.