Anonymous wrote:Funny- I managed to find an unrenovated house.

In what neighborhood? Any tips? We found a (mostly) unrenovated house as well, but I think that's only because the difference between renovation and the actual market price would be to little for flippers to mark up.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't think there's a bubble per se, but I do think flippers are essentially stripping the equity out of some neighborhoods by charging up to the very limit of what the market will bear.

That's what always happens, what do you suggest, they lower prices?

They are inflating prices by doing needlessly expensive flips on houses that may not need all that work.

You sound like a cry baby.

lol. the question is whether DC housing costs are inflated. I think that in some neighborhoods, flippers essentially have a monopoly on unrenovated houses that they buy in the 300-400 range, then flip and sell in the 700 range. I think this inflates the price of the home. FWIW I can actually afford an $800k home, but I did not want to buy a house that someone else had decided to throw away/strip away the equity on with a crappy flip.

Houses sell for what they are worth.

lol

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't think there's a bubble per se, but I do think flippers are essentially stripping the equity out of some neighborhoods by charging up to the very limit of what the market will bear.

That's what always happens, what do you suggest, they lower prices?

They are inflating prices by doing needlessly expensive flips on houses that may not need all that work.

You sound like a cry baby.

lol. the question is whether DC housing costs are inflated. I think that in some neighborhoods, flippers essentially have a monopoly on unrenovated houses that they buy in the 300-400 range, then flip and sell in the 700 range. I think this inflates the price of the home. FWIW I can actually afford an $800k home, but I did not want to buy a house that someone else had decided to throw away/strip away the equity on with a crappy flip.

Houses sell for what they are worth.

Funny- I managed to find an unrenovated house.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't think there's a bubble per se, but I do think flippers are essentially stripping the equity out of some neighborhoods by charging up to the very limit of what the market will bear.

That's what always happens, what do you suggest, they lower prices?

They are inflating prices by doing needlessly expensive flips on houses that may not need all that work.

You sound like a cry baby.

lol. the question is whether DC housing costs are inflated. I think that in some neighborhoods, flippers essentially have a monopoly on unrenovated houses that they buy in the 300-400 range, then flip and sell in the 700 range. I think this inflates the price of the home. FWIW I can actually afford an $800k home, but I did not want to buy a house that someone else had decided to throw away/strip away the equity on with a crappy flip.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't think there's a bubble per se, but I do think flippers are essentially stripping the equity out of some neighborhoods by charging up to the very limit of what the market will bear.

That's what always happens, what do you suggest, they lower prices?

They are inflating prices by doing needlessly expensive flips on houses that may not need all that work.

You sound like a cry baby.

NP I wouldn't mind flippers if they were just traders buying and selling; but they actively destroy value and commit fraud with dangerous and illegal renovation. They are like penny stock scammers -- using lies and inflating a modest value to unsustainable levels which ends in ruin for all parties but them.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No people buying homes can afford to pay without strange loans

But then, why are prices so high?

High incomes, good economy. We made 550k last year, 100k more than the previous.

But you still havent learned that your experience isnt the experience of the collective?

GDP is flat, wages are flat.

Wage growth is up 2.8% YoY.

And rents and housing have far out paced that.

Listen, Fed rates have been near 0 for about a decade -- completely unprecedented

https://fred.stlouisfed.org/series/FEDFUNDS

It's clear they were propping up asset prices as for most Americans, housing is Largest component of net worth. Having housing drop after the bubble would have a cascading effect on spending and economic activity leading to deflation and depression.

They have made it VERY clear they will not allow housing to drop again in nominal dollars; they are trying to stoke inflation so that income increases and then housing can return to a reasonable value be income in real dollars. They have had limited success because of all the debt sloshing around, but in a generation things should be back to 'normal' with housing/rent to income.

Considering their skittishness to events or rates and letting stock market devalue, it's clear that extraordinary measures would be on the table if housing 'bubble' popped

tl;dr there are powerful forces allied to prop up housing prices indefinitely; you can't beat them and trying to time the market is a fools game.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't think there's a bubble per se, but I do think flippers are essentially stripping the equity out of some neighborhoods by charging up to the very limit of what the market will bear.

That's what always happens, what do you suggest, they lower prices?

They are inflating prices by doing needlessly expensive flips on houses that may not need all that work.

You sound like a cry baby.

Anonymous wrote:

Anonymous wrote:I don't think there's a bubble per se, but I do think flippers are essentially stripping the equity out of some neighborhoods by charging up to the very limit of what the market will bear.

That's what always happens, what do you suggest, they lower prices?

They are inflating prices by doing needlessly expensive flips on houses that may not need all that work.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No people buying homes can afford to pay without strange loans

But then, why are prices so high?

High incomes, good economy. We made 550k last year, 100k more than the previous.

But you still havent learned that your experience isnt the experience of the collective?

GDP is flat, wages are flat.

Wage growth is up 2.8% YoY.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No people buying homes can afford to pay without strange loans

But then, why are prices so high?

High incomes, good economy. We made 550k last year, 100k more than the previous.

But you still havent learned that your experience isnt the experience of the collective?

GDP is flat, wages are flat.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No people buying homes can afford to pay without strange loans

But then, why are prices so high?

High incomes, good economy. We made 550k last year, 100k more than the previous.

Anonymous wrote:

Anonymous wrote:No people buying homes can afford to pay without strange loans

But then, why are prices so high?

High incomes, good economy. We made 550k last year, 100k more than the previous.

Anonymous wrote:I don't think there's a bubble per se, but I do think flippers are essentially stripping the equity out of some neighborhoods by charging up to the very limit of what the market will bear.

That's what always happens, what do you suggest, they lower prices?

I don't think there's a bubble per se, but I do think flippers are essentially stripping the equity out of some neighborhoods by charging up to the very limit of what the market will bear.