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More real estate doom and gloom

Brian HCM#1

MMMMMMMMM BEER!!!!!!!!!!
Sep 7, 2001
32,000
286
Bay Area, California
Who doesn’t know or inform themselves, even in passing, about maintenance costs going into home ownership. Especially after waiving the inspection. I mean, really?!
Its stupid! Market has shifted in the sellers favor and they're holding all the cards. Sellers in my area are all doing presale inspections, however buyers are coming in well over asking waving all contingences including the appraisal. Yes, they can see what's wrong upfront, but have no clues in what the costs of repairs will even be. With labor & material costs going through the roof, they'll be in for a rude awakening, and once the market settles........ Ouch!
 

dump

Turbo Monkey
Oct 12, 2001
7,476
2,930
i have issues with our house, but it's already worth almost 50% more than what we bought it for 9 years ago.
Is that a good thing?

Most of us just want a place to live, not really a rapidly appreciating investment, appreciating at the same rate as all the other housing around, increasing the taxes along with it, not to talk of the cost of rennovations.
 

jonKranked

Detective Dookie
Nov 10, 2005
76,868
17,302
media blackout
Is that a good thing?

Most of us just want a place to live, not really a rapidly appreciating investment, appreciating at the same rate as all the other housing around, increasing the taxes along with it, not to talk of the cost of rennovations.
its just an observation. i'm certainly not complaining about it. our property taxes are like 1.5%
 

Westy

the teste
Nov 22, 2002
48,004
13,376
Sleazattle
I was very interested in tracking my home value after I bought it as I was terrified of going in the red if a "correction" took place. That clearly wasn't going to be a problem after a year so I no longer care. I need a place to live so as long as values go up or down similarly than the rest of the country so I can move my investment from one house to another without getting screwed I don't care.
 

Toshi

Harbinger of Doom
Oct 23, 2001
33,346
4,732
I was very interested in tracking my home value after I bought it as I was terrified of going in the red if a "correction" took place. That clearly wasn't going to be a problem after a year so I no longer care. I need a place to live so as long as values go up or down similarly than the rest of the country so I can move my investment from one house to another without getting screwed I don't care.
you'll have to pay capital gains for the amount of your realized appreciation over $500k, tho
 

Westy

the teste
Nov 22, 2002
48,004
13,376
Sleazattle
Have to love how many ways there are to dodge taxes, or pay a lower rate unless you are getting a paycheck or it is an "investment home".

I need to do a better job of saving receipts for improvement costs.
 

Toshi

Harbinger of Doom
Oct 23, 2001
33,346
4,732
Have to love how many ways there are to dodge taxes, or pay a lower rate unless you are getting a paycheck or it is an "investment home".

I need to do a better job of saving receipts for improvement costs.
That said, the $500k capital gains exemption (and the $11M estate tax floor) are very generous as it is.
 

Fool

Turbo Monkey
Sep 10, 2001
2,176
768
Brooklyn
Here is my mayor and a bunch of b-squad celebs at a party for a credit card you use for paying your rent.

Things are going great, here, thanks for asking
 

jonKranked

Detective Dookie
Nov 10, 2005
76,868
17,302
media blackout

Key first sentence.
re: Maine empty houses in that article. Maine has a lot of summer camps (my family has one). sits vacant the vast majority of the year. but it also aren't suitable as a year round residence (eg no insulation, etc). this style is very popular. i wonder if that's reflected in those numbers.
 

kidwoo

Artisanal Tweet Curator
Aug 25, 2003
32,321
7,413
The old timey times
February statistics from Redfin show Portland’s median home price was $511,150. Almost all of our suburbs blow right past that number: Median home prices in Tigard, Milwaukie, Beaverton, Hillsboro, Wilsonville, Happy Valley and Oregon City are all more expensive than in Portland proper. (And, obviously, in Lake Oswego and West Linn, at $902,000 and $765,000, respectively.)