Somehow, things continue to get even more nuts. Recent homes we've seen have gone for 25% and 59% over asking.
Things should get as summer approaches
Somehow, things continue to get even more nuts. Recent homes we've seen have gone for 25% and 59% over asking.
Somehow, things continue to get even more nuts. Recent homes we've seen have gone for 25% and 59% over asking.
Brrrrrrrrrrrrrrrrttt23.6% of All US Dollars Were Created in the Last Year
Money Supply Up Over $3 Trillion Since March Greatest Year-Over-Year Money Supply Surge in Historywww.thestreet.com
Almost 1/4 of all US dollars were printed last year.
Assets (houses, stocks) will continue rising as long as the money supply keeps going.
Its sustainable as long as the US can export its inflation, which appears it can still do after the latest brrrrrtttt.Seems... unsustainable. Also shows how utterly immoral and arbitrary it is for people to be denied things like healthcare, a functioning home, because they are ‘poor’.
Seems... unsustainable. Also shows how utterly immoral and arbitrary it is for people to be denied things like healthcare, a functioning home, because they are ‘poor’.
good riddance fuckwits!Portland real estate investment startup moves HQ to Austin
“Austin has a number of benefits such as pro-growth economic policies."www.oregonlive.com
Median house price here is now more than DOUBLE what we paid in 2004, and I thought we got ripped off at those prices. I know I've been saying it for more than a decade now, but I do not understand how any of this is sustainable.
Colorado Springs cost of living surges to 23-year high | OutThere Colorado
The cost of living in Colorado Springs surged to a 23-year high in the first quarter as home prices continue to climb amid a hot housing market, a national surveywww.outtherecolorado.com
Somehow, things continue to get even more nuts. Recent homes we've seen have gone for 25% and 59% over asking.
2bd 1 bath 900 sq ft rancher next door has sold twice in the last year, second time being just a couple weeks ago for a flabbergasting (at least in my little working class hood) for 24K over asking price. Damn near 25% increase in 8 months. I *still* do not understand how any of this is sustainable.Things should get as summer approaches
I assume.not people buying homes
investors buying properties
Don't give me that shit, you guys are just down the hill from CANON CITY! Those prisons are gorgeous. Was just a matter of time before the sprangs sprung. I'm familiar with the springs. Some of the most poorly lit and trash laden parks in the west because taxes are satan (who you can incidentally have removed from your soul in one of many arenas of the lord as seen on tv). With the churches and bases it's actually really similar to where I grew up.I assume.
But jesus, what's rent gotta be on that place to make an "investor" even break even? 1800 bucks a month, to rent? This isn't Tahoe. It's a shitty military town with some small amount of secondary tourism thrown in and no other real economy. I don't know who these people are and where they work that they can afford that as rent, never mind a mortgage on such a tiny little shit box of a house.
My point was only that I don't believe this town has the sort of economy to support such inflated housing and rental prices.Don't give me that shit, you guys are just down the hill from CANON CITY! Was just a matter of time before the sprangs sprung. I'm familiar with the springs. Some of the most poorly lit and trash laden parks in the west because taxes are satan (who you can incidentally have removed from your soul in one of many arenas of the lord as seen on tv). With the churches and bases it's actually really similar to where I grew up. Just because I bitch about tahoe doesn't mean I've never been anywhere else.
It's not necessarily someone like a family buying places to rent the mortgage. Could be an investment firm, could be a trust. Might just be a family with too much money just buying it to sit on like the other two.
My domestic non-platonic partner's mom lives in canon city btw. I'll holler next time I'm out
Proximity to monarch pass/salida always seemed equivalent to denver-summit county with traffic concerns. I was being sarcastic but the 'just a matter of time' thing I really do believe. Denver has become almost unlivable if you moved there for outdoor access. Everyone wants to do the same shit at the same times.My point was only that I don't believe this town has the sort of economy to support such inflated housing and rental prices.
I mean, it's no Penrose!
Hit me up, yo.
You're becoming a bedroom community for the Denver Tech Center. Congrats.My point was only that I don't believe this town has the sort of economy to support such inflated housing and rental prices.
El Paso county still shows the POMost cities have a GIS system that lets you look up who the owner is.
It's me.Most cities have a GIS system that lets you look up who the owner is.
It's getting to be that way here, real fucking fast. It's a huge part of the reason I chose the schedule I do. Do anything outside on a weekend? Fuuuuuuuucck that.Denver has become almost unlivable if you moved there for outdoor access. Everyone wants to do the same shit at the same times.
This. It's rare I try to do any outdoor shit on the weekend any more, at least as far as "day trip" stuff goes.It's getting to be that way here, real fucking fast. It's a huge part of the reason I chose the schedule I do. Do anything outside on a weekend? Fuuuuuuuucck that.
We weren't gonna tell you because it's more enjoyable to watch than real estateOops, wrong thread
The trajectory of housing prices defies logic and continues to do so. *Supposedly* prices are up 20% over last year, with another 10% increase expected in 2021. It has gotten to the point where my wife and I, who would be considered solidly middle class, have more or less been priced out of the single family home market, and even the price of a 3 bd/2ba townhomes/condo will consume 45% of our take home pay. I have no idea how these people are buying these homes for $80K over asking AND still have enough for a down payment.2bd 1 bath 900 sq ft rancher next door has sold twice in the last year, second time being just a couple weeks ago for a flabbergasting (at least in my little working class hood) for 24K over asking price. Damn near 25% increase in 8 months. I *still* do not understand how any of this is sustainable.
Zillow is showing estimates on my street that are starting to approach mid 400k. Half million dollar home on my street? Fuck right off with that shit. Jesus Christ......
Wouldn't surprise me one bit. Just another way to shovel wealth upward.not people buying homes
investors buying properties
Either way, this can't be healthy for the future of our economy. You can't have the grand majority of the populace spending 50% of their money on housing and still expect a consumer driven economy to grow or sustain itself.
hehheh
burn bitch burn
I gotta wonder who specifically is gonna crash with this next one and which welfare queen bank we're going to bail out with entitlements.
The trajectory of housing prices defies logic and continues to do so. *Supposedly* prices are up 20% over last year, with another 10% increase expected in 2021. It has gotten to the point where my wife and I, who would be considered solidly middle class, have more or less been priced out of the single family home market, and even the price of a 3 bd/2ba townhomes/condo will consume 45% of our take home pay. I have no idea how these people are buying these homes for $80K over asking AND still have enough for a down payment.
Then again who knows, maybe I'm just deluded and far less financially stable than I believed. Either way, this can't be healthy for the future of our economy. You can't have the grand majority of the populace spending 50% of their money on housing and still expect a consumer driven economy to grow or sustain itself.
Wouldn't surprise me one bit. Just another way to shovel wealth upward.
I mean.....seattle/bellvue is just as bad as the bay area aint it? Maybe not silicon valley but everything else. And manhattan, and los angeles and fill in the blank________ mountain town. I think of seattle being like top 3 concentrations of wealth just like the bay.How many times does rideit scream hello into
When I was looking for a house I was shocked by how little was being borrowed to buy one. I think the local average was 50% down. The first house I bid on was beat by $100,000 with a cash offer. The 20 something couple that moved in then gutted the house I assume spending the $100k they had left over.
Can only guess someone's parents mortgaged their home in the bay area and gave the kids their inheritance early. Or perhaps just rich AF.
KId I work with parents bought his house for him with cash.
Must be nice. I've been saving my whole life expecting to have to take care of my parents at some point.
Now Skeeter, they ain't hurtin anyone.Just sit on my porch with a rifle and shoot at california plates as they drive by on their way to moab. I hear that's actually a county job in some of the places out there.
But they IS jesse! they IS!!Now Skeeter, they ain't hurtin anyone.
Seattle is a bargain compared to say San Jose or Boston or hell even Bellevue. It would piss him off, but I am confident Tim could find a place here.I mean.....seattle/bellvue is just as bad as the bay area aint it? Maybe not silicon valley but everything else. And manhattan, and los angeles and fill in the blank________ mountain town. I think of seattle being like top 3 concentrations of wealth just like the bay.
If I could convince my significant other to quit worrying about stupid things like "medical care" and "food" I'd already live out in the middle of nevada by now. Just sit on my porch with a rifle and shoot at california plates as they drive by on their way to moab. I hear that's actually a county job in some of the places out there.
Just because I know it pisses off people in seattle who seem so obsessed with what's "REAL SEATTLE"..................bellevue is seattle. Yeah I said it. Come at me bros.
We just came up with the general douche zone "bay area". What do you guys use? Seatac? Tacoma isn't a city though it's just a traffic jam that smells like low tide next to an applebees. What do you call that mess up there that includes you know, the whole mess?