Anonymous wrote:Listings climbing every weekend in the zips i follow. More than double now and prices falling. I am not a bubble guy. Just saying.

Anonymous wrote:

Anonymous wrote:I am not sure why folks are saying that prices are decreasing. I am seeing that houses are sitting in the market for longer time but selling at the listing price or above. Yes, number of offers are less now as compared to earlier.

Did you not see the data above your post?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The home is OVERPRICED and AFFORDABLE at same time.

Right now for average first time buyer given economy and super low mortgage rates homes are Most affordable since 1984.

But someone like me looking to sell and pay cash as near retirement I think it is widely overpriced.

If borrowing a primary the super low rates are great!!!

If like me looking to buy a place in Florida or beach area to retire second home prices are sky high! I am not borrowing so I just get High price. I used to have arbitrage of sorts sell my desirable close in to city home top dollar and buy a cheap place to retire. Plus the low mortgages are not much help old people. My fathers in-laws just retired to Florida at 78. House became too much. A low low mortgage won’t have any where near the payback of a 38 year old.

Bottom line the 5 percent down starter home crowd may be overpaying by month to month lowest cost since 1984.

You have absolutely zero idea about what you're talking about.

Starter/retirement and vacation homes way up in price. My home not that much. I say that as my vacation beach condo worth 1/3 the cost in 2019 went up more in value than my primary. It is garden apt style so popular as more like a house than apt

Like I was saying....no freakin clue...

Smoking during pregnancy does effect some children. Homes are most affordable since 1984 for folks taking out large mortgages. However, since at all time highs price wise overpriced for cash buyers.

So starter home buyers with big mortgage great. Someone buying retirement home cash bad.

I recommend prenatal vitamins and no smoking and drinking when you have children

NP but you're not making sense to me either.

If someone has $1000 per month to spend on a home, then a house selling for $200,000 at 5% has the same $1000 payment as a house that sells for $250,000 at 3%. Now imagine those are both the same house. That's the current situation and it's pretty much a wash for buyers.

Of course, the rates are as low in places with lower price appreciation, so there's a better case there for increasing affordability. But not universally, and darn tootin' not in DC.

The difference is....

Interest rates cannot go below zero (yeah yeah, I know about negative rates that are even happening now, in certain places, but that's a very unique situation). So, you're taking on a much bigger liability in "raw dollars", than if rates were high and the asset (house) price was low. If incomes kept pace with this, it'd be perfectly fine. But they are not. So, guess what happens? Your property taxes are higher, your HOI is higher, your flood insurance (if applicable) is higher, and a number of other things, that have NO correlation to interest rates. And with the SALT rules, you're paying a lot more with after tax dollars. So each dollar you pay towards after tax costs is actually a lot more than $1.

Take a look at Illinois and NJ. Look at house prices vs property taxes vs income tax rates. That's where almost every Blue state and a number of Red states are headed. You really think the states are not gonna come after every dollar they can squeeze out of you with these elevated home prices??

Mortgage interest/interest rates are but one factor in a house purchase. It is one of the most illiquid assets with the highest carrying cost there is.

This reads like mumbo jumbo. The PP is correct.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The home is OVERPRICED and AFFORDABLE at same time.

Right now for average first time buyer given economy and super low mortgage rates homes are Most affordable since 1984.

But someone like me looking to sell and pay cash as near retirement I think it is widely overpriced.

If borrowing a primary the super low rates are great!!!

If like me looking to buy a place in Florida or beach area to retire second home prices are sky high! I am not borrowing so I just get High price. I used to have arbitrage of sorts sell my desirable close in to city home top dollar and buy a cheap place to retire. Plus the low mortgages are not much help old people. My fathers in-laws just retired to Florida at 78. House became too much. A low low mortgage won’t have any where near the payback of a 38 year old.

Bottom line the 5 percent down starter home crowd may be overpaying by month to month lowest cost since 1984.

You have absolutely zero idea about what you're talking about.

Starter/retirement and vacation homes way up in price. My home not that much. I say that as my vacation beach condo worth 1/3 the cost in 2019 went up more in value than my primary. It is garden apt style so popular as more like a house than apt

Like I was saying....no freakin clue...

Smoking during pregnancy does effect some children. Homes are most affordable since 1984 for folks taking out large mortgages. However, since at all time highs price wise overpriced for cash buyers.

So starter home buyers with big mortgage great. Someone buying retirement home cash bad.

I recommend prenatal vitamins and no smoking and drinking when you have children

NP but you're not making sense to me either.

If someone has $1000 per month to spend on a home, then a house selling for $200,000 at 5% has the same $1000 payment as a house that sells for $250,000 at 3%. Now imagine those are both the same house. That's the current situation and it's pretty much a wash for buyers.

Of course, the rates are as low in places with lower price appreciation, so there's a better case there for increasing affordability. But not universally, and darn tootin' not in DC.

The difference is....

Interest rates cannot go below zero (yeah yeah, I know about negative rates that are even happening now, in certain places, but that's a very unique situation). So, you're taking on a much bigger liability in "raw dollars", than if rates were high and the asset (house) price was low. If incomes kept pace with this, it'd be perfectly fine. But they are not. So, guess what happens? Your property taxes are higher, your HOI is higher, your flood insurance (if applicable) is higher, and a number of other things, that have NO correlation to interest rates. And with the SALT rules, you're paying a lot more with after tax dollars. So each dollar you pay towards after tax costs is actually a lot more than $1.

Take a look at Illinois and NJ. Look at house prices vs property taxes vs income tax rates. That's where almost every Blue state and a number of Red states are headed. You really think the states are not gonna come after every dollar they can squeeze out of you with these elevated home prices??

Mortgage interest/interest rates are but one factor in a house purchase. It is one of the most illiquid assets with the highest carrying cost there is.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The home is OVERPRICED and AFFORDABLE at same time.

Right now for average first time buyer given economy and super low mortgage rates homes are Most affordable since 1984.

But someone like me looking to sell and pay cash as near retirement I think it is widely overpriced.

If borrowing a primary the super low rates are great!!!

If like me looking to buy a place in Florida or beach area to retire second home prices are sky high! I am not borrowing so I just get High price. I used to have arbitrage of sorts sell my desirable close in to city home top dollar and buy a cheap place to retire. Plus the low mortgages are not much help old people. My fathers in-laws just retired to Florida at 78. House became too much. A low low mortgage won’t have any where near the payback of a 38 year old.

Bottom line the 5 percent down starter home crowd may be overpaying by month to month lowest cost since 1984.

You have absolutely zero idea about what you're talking about.

Starter/retirement and vacation homes way up in price. My home not that much. I say that as my vacation beach condo worth 1/3 the cost in 2019 went up more in value than my primary. It is garden apt style so popular as more like a house than apt

Like I was saying....no freakin clue...

Smoking during pregnancy does effect some children. Homes are most affordable since 1984 for folks taking out large mortgages. However, since at all time highs price wise overpriced for cash buyers.

So starter home buyers with big mortgage great. Someone buying retirement home cash bad.

I recommend prenatal vitamins and no smoking and drinking when you have children

NP but you're not making sense to me either.

If someone has $1000 per month to spend on a home, then a house selling for $200,000 at 5% has the same $1000 payment as a house that sells for $250,000 at 3%. Now imagine those are both the same house. That's the current situation and it's pretty much a wash for buyers.

Of course, the rates are as low in places with lower price appreciation, so there's a better case there for increasing affordability. But not universally, and darn tootin' not in DC.

Anonymous wrote:I am not sure why folks are saying that prices are decreasing. I am seeing that houses are sitting in the market for longer time but selling at the listing price or above. Yes, number of offers are less now as compared to earlier.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The home is OVERPRICED and AFFORDABLE at same time.

Right now for average first time buyer given economy and super low mortgage rates homes are Most affordable since 1984.

But someone like me looking to sell and pay cash as near retirement I think it is widely overpriced.

If borrowing a primary the super low rates are great!!!

If like me looking to buy a place in Florida or beach area to retire second home prices are sky high! I am not borrowing so I just get High price. I used to have arbitrage of sorts sell my desirable close in to city home top dollar and buy a cheap place to retire. Plus the low mortgages are not much help old people. My fathers in-laws just retired to Florida at 78. House became too much. A low low mortgage won’t have any where near the payback of a 38 year old.

Bottom line the 5 percent down starter home crowd may be overpaying by month to month lowest cost since 1984.

You have absolutely zero idea about what you're talking about.

Starter/retirement and vacation homes way up in price. My home not that much. I say that as my vacation beach condo worth 1/3 the cost in 2019 went up more in value than my primary. It is garden apt style so popular as more like a house than apt

Like I was saying....no freakin clue...

Smoking during pregnancy does effect some children. Homes are most affordable since 1984 for folks taking out large mortgages. However, since at all time highs price wise overpriced for cash buyers.

So starter home buyers with big mortgage great. Someone buying retirement home cash bad.

I recommend prenatal vitamins and no smoking and drinking when you have children

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The home is OVERPRICED and AFFORDABLE at same time.

Right now for average first time buyer given economy and super low mortgage rates homes are Most affordable since 1984.

But someone like me looking to sell and pay cash as near retirement I think it is widely overpriced.

If borrowing a primary the super low rates are great!!!

If like me looking to buy a place in Florida or beach area to retire second home prices are sky high! I am not borrowing so I just get High price. I used to have arbitrage of sorts sell my desirable close in to city home top dollar and buy a cheap place to retire. Plus the low mortgages are not much help old people. My fathers in-laws just retired to Florida at 78. House became too much. A low low mortgage won’t have any where near the payback of a 38 year old.

Bottom line the 5 percent down starter home crowd may be overpaying by month to month lowest cost since 1984.

You have absolutely zero idea about what you're talking about.

Starter/retirement and vacation homes way up in price. My home not that much. I say that as my vacation beach condo worth 1/3 the cost in 2019 went up more in value than my primary. It is garden apt style so popular as more like a house than apt

Like I was saying....no freakin clue...

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The home is OVERPRICED and AFFORDABLE at same time.

Right now for average first time buyer given economy and super low mortgage rates homes are Most affordable since 1984.

But someone like me looking to sell and pay cash as near retirement I think it is widely overpriced.

If borrowing a primary the super low rates are great!!!

If like me looking to buy a place in Florida or beach area to retire second home prices are sky high! I am not borrowing so I just get High price. I used to have arbitrage of sorts sell my desirable close in to city home top dollar and buy a cheap place to retire. Plus the low mortgages are not much help old people. My fathers in-laws just retired to Florida at 78. House became too much. A low low mortgage won’t have any where near the payback of a 38 year old.

Bottom line the 5 percent down starter home crowd may be overpaying by month to month lowest cost since 1984.

You have absolutely zero idea about what you're talking about.

Starter/retirement and vacation homes way up in price. My home not that much. I say that as my vacation beach condo worth 1/3 the cost in 2019 went up more in value than my primary. It is garden apt style so popular as more like a house than apt

Anonymous wrote:

Anonymous wrote:The home is OVERPRICED and AFFORDABLE at same time.

Right now for average first time buyer given economy and super low mortgage rates homes are Most affordable since 1984.

But someone like me looking to sell and pay cash as near retirement I think it is widely overpriced.

If borrowing a primary the super low rates are great!!!

If like me looking to buy a place in Florida or beach area to retire second home prices are sky high! I am not borrowing so I just get High price. I used to have arbitrage of sorts sell my desirable close in to city home top dollar and buy a cheap place to retire. Plus the low mortgages are not much help old people. My fathers in-laws just retired to Florida at 78. House became too much. A low low mortgage won’t have any where near the payback of a 38 year old.

Bottom line the 5 percent down starter home crowd may be overpaying by month to month lowest cost since 1984.

You have absolutely zero idea about what you're talking about.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our neighbors are selling but we won’t be ready to sell for a few years. If this is a unique situation or a bubble, how do neighborhood price comps work then?

That "market" doesn't care about comps. What it cares about is what someone is willing to pay.

A "bubble" by definition means, more buyers than sellers, hence the frenzy. If and when you decide to sell, the buyer/seller ration will dictate what someone's willing to pay in your neighborhood.

p.s. Wait till all these "new" buyers get property tax assessments, once they close. The shock and awe will be hilarious to watch. "OMG!!! my property taxes went up by...the previous tax bill was only...I can't afford to pay that much....what should I do...."

You find the prospect of someone being unable to afford their recently purchased house "hilarious"? You must be fun at parties...

Anonymous wrote:The home is OVERPRICED and AFFORDABLE at same time.

Right now for average first time buyer given economy and super low mortgage rates homes are Most affordable since 1984.

But someone like me looking to sell and pay cash as near retirement I think it is widely overpriced.

If borrowing a primary the super low rates are great!!!

If like me looking to buy a place in Florida or beach area to retire second home prices are sky high! I am not borrowing so I just get High price. I used to have arbitrage of sorts sell my desirable close in to city home top dollar and buy a cheap place to retire. Plus the low mortgages are not much help old people. My fathers in-laws just retired to Florida at 78. House became too much. A low low mortgage won’t have any where near the payback of a 38 year old.

Bottom line the 5 percent down starter home crowd may be overpaying by month to month lowest cost since 1984.