Average sale price in our town for a single family house over 1500sf finished is now over $ 570,000.

Despite 7% interest.

And when the largest production builder sells out I have no doubt prices will increase for resale houses.

If interest rates ever drop below 6% prices here will skyrocket even more.

KaiBear said:

---

Average sale price in our town for a single family house over 1500sf finished is now over $ 570,000.

Despite 7% interest.

And when the largest production builder sells out I have no doubt prices will increase for resale houses.

If interest rates ever drop below 6% prices here will skyrocket even more.

---

If it is like most places, the entitlements are already approved and the required improvements already included, so they can build at will. Where I live, there are over 10k homes approved that is just pasture land right now. They keep approving and moving the Urban Service Boundary out further and further. That is not an issue in a State like the NE which is small, but the Southern and Western States the Counties are the size of those States.

We will have another 2008, too much stock and too high prices and it will crash. Hell, in 2005 I remember Cities were big on waterfront residential condos, they were approving by the thousands when there was a 30% occupancy. Doesn't change.

KaiBear said:

---

Porteroso said:

---

Wangchung said:

---

KaiBear said:

---

Wangchung said:

---

The massive influx of illegals taking up all cheap property does not help.

---

Illegals can't aquire mortgage loans.


So unless they have some substantial cash in their travel bags.....it ain't happening.

---

They fill rentals of all types and then some.

---

There is a lot of merit to this. Though it is not the entire basis of the problem. I live in a neighborhood where at least 50% of rentals are inhabited by Hispanics. Few speak good English, but their kids speak perfect English, so I figure some are illegals. It enables investors to have guaranteed renters imo. You subtract illegals from the rental market in Southern cities, and all the sudden you have a vacancy crisis rather than a not-enough-housing crisis.

I am not one to cry about illegals too much. Hispanic illegals work so hard and generally are just trying to provide a better life in a better place for their kids, than what they had. But there is no point in ignoring their market presence and its effect.

---

So bloody clueless.

We never rent to illegals and don't know anyone who does.
For the simple reality they sub rent rooms to their associates and almost always tear the **** out of the property.

The damages always exceed the security deposit and then THEY LEAVE and it is impossible to track them down.

---

could not be farther from the truth from my experience. My experience is they may have several people in the unit, but they (don't know if legal or not). Never, ever had an issue with things getting torn up.. To the contrary . We had 2 complexes across the street from each other in predominantly Hispanic town. (800 units) One of the best deal we ever did. oh, and they pay on the first with money orders for the most part. Never had to chase anyone.

J.R. said:

---

KaiBear said:

---

Porteroso said:

---

Wangchung said:

---

KaiBear said:

---

Wangchung said:

---

The massive influx of illegals taking up all cheap property does not help.

---

Illegals can't aquire mortgage loans.


So unless they have some substantial cash in their travel bags.....it ain't happening.

---

They fill rentals of all types and then some.

---

There is a lot of merit to this. Though it is not the entire basis of the problem. I live in a neighborhood where at least 50% of rentals are inhabited by Hispanics. Few speak good English, but their kids speak perfect English, so I figure some are illegals. It enables investors to have guaranteed renters imo. You subtract illegals from the rental market in Southern cities, and all the sudden you have a vacancy crisis rather than a not-enough-housing crisis.

I am not one to cry about illegals too much. Hispanic illegals work so hard and generally are just trying to provide a better life in a better place for their kids, than what they had. But there is no point in ignoring their market presence and its effect.

---

So bloody clueless.

We never rent to illegals and don't know anyone who does.
For the simple reality they sub rent rooms to their associates and almost always tear the **** out of the property.

The damages always exceed the security deposit and then THEY LEAVE and it is impossible to track them down.

---

could not be farther from the truth from my experience. My experience is they may have several people in the unit, but they (don't know if legal or not). Never, ever had an issue with things getting torn up.. To the contrary . We had 2 complexes across the street from each other in predominantly Hispanic town. (800 units) One of the best deal we ever did. oh, and they pay on the first with money orders for the most part. Never had to chase anyone.

---

If you have 'several people in the unit ' that is almost always a violation of HOA guidelines.

If you have more people in a unit that is allowable, damage is common if not inevitable.

With respect, I doubt you are aware of the damages some of your properties have endured. Suspect you employ a property management company .

Renting to illegals is wrong and short sighted.

boognish_bear said:

---

These little tricks don't help

Walmart, $WMT, cut the number of sheets in its Great Value paper towel rolls from 168 to 120 but did not reduce the price, per CNBC.

— unusual_whales (@unusual_whales) July 16, 2024

---

Helps convince the masses that the official inflation rate maxed out at 7% after covid and is staying at a cool 3% recently. The new inflation, you pay a little bit more for less, you just don't know you're getting less.

New data shows which grocery items have been hit the hardest by shrinkflation 👀https://t.co/FRxtyKctDF

— Daily Hive Toronto (@DailyHiveTO) July 17, 2024

boognish_bear said:

---

Hopefully the kids they are taking are not under five years old… Because they won't even remember the trip

45% of Disney-going, $DIS, parents with young children have gone into debt for trip, per LendingTree.

— unusual_whales (@unusual_whales) July 9, 2024

---

That. is just the dumbest thing ever. Disney land. We told our kids when they were little that we will travel a lot, but NO Disney. Why people think that Disney is a MUST for kids. Save your $15K and go somewhere else . My kids missed nothing. Another big issue I have seen with the young folks not being able to afford home. Firstly, they have to live in a budget which will dictate where you live. They can't have it all. If you want to live downtown in an apt as that is your lifestyle and spend money on restaurants, bars and just being kick ass. As far as student debt is concerned, that is on them. If you have to take out a loan, why in the world would you go to your basic BU, TCU, and SMU for $70K per year. Just foolish. Go to a state school, get your education, kill it, then go to post grad if that is your thing. Hell , go to your OU, Arky, OSU who offer in state tuition if you have the grades.

KaiBear said:

---

J.R. said:

---

KaiBear said:

---

Porteroso said:

---

Wangchung said:

---

KaiBear said:

---

Wangchung said:

---

The massive influx of illegals taking up all cheap property does not help.

---

Illegals can't aquire mortgage loans.


So unless they have some substantial cash in their travel bags.....it ain't happening.

---

They fill rentals of all types and then some.

---

There is a lot of merit to this. Though it is not the entire basis of the problem. I live in a neighborhood where at least 50% of rentals are inhabited by Hispanics. Few speak good English, but their kids speak perfect English, so I figure some are illegals. It enables investors to have guaranteed renters imo. You subtract illegals from the rental market in Southern cities, and all the sudden you have a vacancy crisis rather than a not-enough-housing crisis.

I am not one to cry about illegals too much. Hispanic illegals work so hard and generally are just trying to provide a better life in a better place for their kids, than what they had. But there is no point in ignoring their market presence and its effect.

---

So bloody clueless.

We never rent to illegals and don't know anyone who does.
For the simple reality they sub rent rooms to their associates and almost always tear the **** out of the property.

The damages always exceed the security deposit and then THEY LEAVE and it is impossible to track them down.

---

could not be farther from the truth from my experience. My experience is they may have several people in the unit, but they (don't know if legal or not). Never, ever had an issue with things getting torn up.. To the contrary . We had 2 complexes across the street from each other in predominantly Hispanic town. (800 units) One of the best deal we ever did. oh, and they pay on the first with money orders for the most part. Never had to chase anyone.

---

If you have 'several people in the unit ' that is almost always a violation of HOA guidelines.

If you have more people in a unit that is allowable, damage is common if not inevitable.

With respect, I doubt you are aware of the damages some of your properties have endured. Suspect you employ a property management company .

Renting to illegals is wrong and short sighted.

---

We have NO HOAs. We have and in house management company and an in house construction company for refurbs. You do you and I do me. I have no problem with it. , none. If they pay on time, take care of the unit, I'm good. Furthermore , it is really hard to ascertain their status. I stay out of it.

J.R. said:

---

KaiBear said:

---

J.R. said:

---

KaiBear said:

---

Porteroso said:

---

Wangchung said:

---

KaiBear said:

---

Wangchung said:

---

The massive influx of illegals taking up all cheap property does not help.

---

Illegals can't aquire mortgage loans.


So unless they have some substantial cash in their travel bags.....it ain't happening.

---

They fill rentals of all types and then some.

---

There is a lot of merit to this. Though it is not the entire basis of the problem. I live in a neighborhood where at least 50% of rentals are inhabited by Hispanics. Few speak good English, but their kids speak perfect English, so I figure some are illegals. It enables investors to have guaranteed renters imo. You subtract illegals from the rental market in Southern cities, and all the sudden you have a vacancy crisis rather than a not-enough-housing crisis.

I am not one to cry about illegals too much. Hispanic illegals work so hard and generally are just trying to provide a better life in a better place for their kids, than what they had. But there is no point in ignoring their market presence and its effect.

---

So bloody clueless.

We never rent to illegals and don't know anyone who does.
For the simple reality they sub rent rooms to their associates and almost always tear the **** out of the property.

The damages always exceed the security deposit and then THEY LEAVE and it is impossible to track them down.

---

could not be farther from the truth from my experience. My experience is they may have several people in the unit, but they (don't know if legal or not). Never, ever had an issue with things getting torn up.. To the contrary . We had 2 complexes across the street from each other in predominantly Hispanic town. (800 units) One of the best deal we ever did. oh, and they pay on the first with money orders for the most part. Never had to chase anyone.

---

If you have 'several people in the unit ' that is almost always a violation of HOA guidelines.

If you have more people in a unit that is allowable, damage is common if not inevitable.

With respect, I doubt you are aware of the damages some of your properties have endured. Suspect you employ a property management company .

Renting to illegals is wrong and short sighted.

---

We have NO HOAs. We have and in house management company and an in house construction company for refurbs. You do you and I do me. I have no problem with it. , none. If they pay on time, take care of the unit, I'm good. Furthermore , it is really hard to ascertain their status. I stay out of it.

---

Not remotely hard to evaluate their legal status.
As we manage our own properties.
No illusions about damages here, we have seen the mistakes of others .

KaiBear said:

---

J.R. said:

---

KaiBear said:

---

J.R. said:

---

KaiBear said:

---

Porteroso said:

---

Wangchung said:

---

KaiBear said:

---

Wangchung said:

---

The massive influx of illegals taking up all cheap property does not help.

---

Illegals can't aquire mortgage loans.


So unless they have some substantial cash in their travel bags.....it ain't happening.

---

They fill rentals of all types and then some.

---

There is a lot of merit to this. Though it is not the entire basis of the problem. I live in a neighborhood where at least 50% of rentals are inhabited by Hispanics. Few speak good English, but their kids speak perfect English, so I figure some are illegals. It enables investors to have guaranteed renters imo. You subtract illegals from the rental market in Southern cities, and all the sudden you have a vacancy crisis rather than a not-enough-housing crisis.

I am not one to cry about illegals too much. Hispanic illegals work so hard and generally are just trying to provide a better life in a better place for their kids, than what they had. But there is no point in ignoring their market presence and its effect.

---

So bloody clueless.

We never rent to illegals and don't know anyone who does.
For the simple reality they sub rent rooms to their associates and almost always tear the **** out of the property.

The damages always exceed the security deposit and then THEY LEAVE and it is impossible to track them down.

---

could not be farther from the truth from my experience. My experience is they may have several people in the unit, but they (don't know if legal or not). Never, ever had an issue with things getting torn up.. To the contrary . We had 2 complexes across the street from each other in predominantly Hispanic town. (800 units) One of the best deal we ever did. oh, and they pay on the first with money orders for the most part. Never had to chase anyone.

---

If you have 'several people in the unit ' that is almost always a violation of HOA guidelines.

If you have more people in a unit that is allowable, damage is common if not inevitable.

With respect, I doubt you are aware of the damages some of your properties have endured. Suspect you employ a property management company .

Renting to illegals is wrong and short sighted.

---

We have NO HOAs. We have and in house management company and an in house construction company for refurbs. You do you and I do me. I have no problem with it. , none. If they pay on time, take care of the unit, I'm good. Furthermore , it is really hard to ascertain their status. I stay out of it.

---

Not remotely hard to evaluate their legal status.
As we manage our own properties.
No illusions about damages here, we have seen the mistakes of others .

---

I don't manage daily. I'm an LP and GP

Average 401(k) balance, per Vanguard:

Under 25: $7,351
25 to 34: $37,557
35 to 44: $91,281
45 to 54: $168,646
55 to 64: $244,750
65 and up: $272,588

— unusual_whales (@unusual_whales) August 1, 2024

boognish_bear said:

---

Average 401(k) balance, per Vanguard:

Under 25: $7,351
25 to 34: $37,557
35 to 44: $91,281
45 to 54: $168,646
55 to 64: $244,750
65 and up: $272,588

— unusual_whales (@unusual_whales) August 1, 2024

---

I'm at $282k at 35 thanks to every dollar being matched up to 10% by my employer.

Not sure how much it will be worth when I'm 65 though.

JUST IN: 🇺🇸 Warren Buffett now holds $277 Billion in cash and has been selling stocks like never before, including Apple.

He's getting ready for a crash... pic.twitter.com/7gNrDmsX97

— Radar🚨 (@RadarHits) August 4, 2024

Doc Holliday said:

---

boognish_bear said:

---

Average 401(k) balance, per Vanguard:

Under 25: $7,351
25 to 34: $37,557
35 to 44: $91,281
45 to 54: $168,646
55 to 64: $244,750
65 and up: $272,588

— unusual_whales (@unusual_whales) August 1, 2024

---

I'm at $282k at 35 thanks to every dollar being matched up to 10% by my employer.

Not sure how much it will be worth when I'm 65 though.

---

That is very cool.

Good for you.

The average American feels they need to earn over $180,000 to live comfortably, per USA Today.

Do you agree?

— unusual_whales (@unusual_whales) August 4, 2024

boognish_bear said:

---

The average American feels they need to earn over $180,000 to live comfortably, per USA Today.

Do you agree?

— unusual_whales (@unusual_whales) August 4, 2024

---

Family or Individual?

Family, yes.

Individual no.

FLBear5630 said:

---

boognish_bear said:

---

The average American feels they need to earn over $180,000 to live comfortably, per USA Today.

Do you agree?

— unusual_whales (@unusual_whales) August 4, 2024

---

Family or Individual?

Family, yes.

Individual no.

---

Also depends on where you are living

boognish_bear said:

---

FLBear5630 said:

---

boognish_bear said:

---

The average American feels they need to earn over $180,000 to live comfortably, per USA Today.

Do you agree?

— unusual_whales (@unusual_whales) August 4, 2024

---

Family or Individual?

Family, yes.

Individual no.

---

Also depends on where you are living

---

True. Looked up difference between Seattle and Milwaukee. 92k vs 60k in Milwaukee.

My condo cost $350K. Our mortgage is $1000, plus $250 in condo dues. My daycare bill is $0 because DC has free pre-K. We do two vacations a year and long weekends once a month, eat out regularly, and still max out our IRAs, 401Ks, and 529s. Suburban homeownership is a scam. https://t.co/lPrHwTPQAD

— Dan Riffle (@DanRiffle) August 5, 2024

Per inflation the home I bought in 1991 should be $147,800 today.

Instead it would sell for well over twice that amount.

That is is biggest issue. The other of course is the interest rates compared to just a few years ago.

boognish_bear said:

---

My condo cost $350K. Our mortgage is $1000, plus $250 in condo dues. My daycare bill is $0 because DC has free pre-K. We do two vacations a year and long weekends once a month, eat out regularly, and still max out our IRAs, 401Ks, and 529s. Suburban homeownership is a scam. https://t.co/lPrHwTPQAD

— Dan Riffle (@DanRiffle) August 5, 2024

---

$350k with a 7% interest rate is not remotely the same as when he got it.

He's out of touch wondering why people can't afford to pay 3 times as much as he does and have the same lifestyle.

Florida's housing market is seeing 'nightmare scenarios' as buyers back out due to affordability concerns, Redfin has said.

— unusual_whales (@unusual_whales) August 7, 2024

boognish_bear said:

---

Florida's housing market is seeing 'nightmare scenarios' as buyers back out due to affordability concerns, Redfin has said.

— unusual_whales (@unusual_whales) August 7, 2024

---

We are not seeing that in Tampa. Average Price is up 4.5% from last year and goes Pending in 19 days.

We are seeing growth through the roof. We are seeing 1.1% Annual Growth Per Year, forecasted to continue through 2050.

Sounds like a South Florida issue, they always have a volatile market.

boognish_bear said:

---

My condo cost $350K. Our mortgage is $1000, plus $250 in condo dues. My daycare bill is $0 because DC has free pre-K. We do two vacations a year and long weekends once a month, eat out regularly, and still max out our IRAs, 401Ks, and 529s. Suburban homeownership is a scam. https://t.co/lPrHwTPQAD

— Dan Riffle (@DanRiffle) August 5, 2024

---

I couldnt disagree more. I live in a quiet neighborhood where kids can play safely, nobody is cutting through your neighborhood checking for cars to rob or knocking on doors, you dont even have to lock your doors, neighbors are friends and we get together for bbq & football etc and it's worth every penny. Of course I moved in prior to covid so I got my house for half its current appraised value but I would never want to live somewhere like DC or NY to raise kids. I can visit those places then go back home to my nice, quiet, safe neighborhood.

The average 30-year fixed rate is now at 5.92%, finally under 6%, per Zillow.

— unusual_whales (@unusual_whales) August 8, 2024

muddybrazos said:

---

boognish_bear said:

---

My condo cost $350K. Our mortgage is $1000, plus $250 in condo dues. My daycare bill is $0 because DC has free pre-K. We do two vacations a year and long weekends once a month, eat out regularly, and still max out our IRAs, 401Ks, and 529s. Suburban homeownership is a scam. https://t.co/lPrHwTPQAD

— Dan Riffle (@DanRiffle) August 5, 2024

---

I couldnt disagree more. I live in a quiet neighborhood where kids can play safely, nobody is cutting through your neighborhood checking for cars to rob or knocking on doors, you dont even have to lock your doors, neighbors are friends and we get together for bbq & football etc and it's worth every penny. Of course I moved in prior to covid so I got my house for half its current appraised value but I would never want to live somewhere like DC or NY to raise kids. I can visit those places then go back home to my nice, quiet, safe neighborhood.

---

Good post, muddy! Agree with you here. No way in Hell would I even think about risking the safety of my family in a lawless s***hole city like Washington, D.C.

Average consumer now carries $6,329 in credit card debt, per CNBC

— unusual_whales (@unusual_whales) August 12, 2024

New construction sales are stalling here.

The mass production neighborhoods are beginning to resemble ghost towns with only about 25% of their spec homes occupied.

That is what 7.5% interest rates, low paying jobs and runaway inflation do to real estate sales.

The next two quarters could be real nightmares.

KaiBear said:

---

New construction sales are stalling here.

The mass production neighborhoods are beginning to resemble ghost towns with only about 25% of their spec homes occupied.

That is what 7.5% interest rates, low paying jobs and runaway inflation do to real estate sales.

The next two quarters could be real nightmares.

---

Yep total Marxist catastrophe but elections have consequences don't they

KaiBear said:

---

New construction sales are stalling here.

The mass production neighborhoods are beginning to resemble ghost towns with only about 25% of their spec homes occupied.

That is what 7.5% interest rates, low paying jobs and runaway inflation do to real estate sales.

The next two quarters could be real nightmares.

---

Yep, the dam is going to break either under this president our the next. Question is will the Fed be able to keep it controlled into November.
Next president is inheriting a very troubled economy. May be the reason that the Dems have such a weak ticket, they do not want to sacrifice anyone else that may otherwise have a bright future in the DNC.

TinFoilHatPreacherBear said:

---

KaiBear said:

---

New construction sales are stalling here.

The mass production neighborhoods are beginning to resemble ghost towns with only about 25% of their spec homes occupied.

That is what 7.5% interest rates, low paying jobs and runaway inflation do to real estate sales.

The next two quarters could be real nightmares.

---

Yep, the dam is going to break either under this president our the next. Question is will the Fed be able to keep it controlled into November.
Next president is inheriting a very troubled economy. May be the reason that the Dems have such a weak ticket, they do not want to sacrifice anyone else that may otherwise have a bright future in the DNC.

---

Or they have nobody worth a crap. Newsom and Whitmer would seem to be the best they have neither of them are very likeable.

muddybrazos said:

---

TinFoilHatPreacherBear said:

---

KaiBear said:

---

New construction sales are stalling here.

The mass production neighborhoods are beginning to resemble ghost towns with only about 25% of their spec homes occupied.

That is what 7.5% interest rates, low paying jobs and runaway inflation do to real estate sales.

The next two quarters could be real nightmares.

---

Yep, the dam is going to break either under this president our the next. Question is will the Fed be able to keep it controlled into November.
Next president is inheriting a very troubled economy. May be the reason that the Dems have such a weak ticket, they do not want to sacrifice anyone else that may otherwise have a bright future in the DNC.

---

Or they have nobody worth a crap. Newsom and Whitmer would seem to be the best they have neither of them are very likeable.

---

Shapiro is good. He showed it in Phil.

Someone posted a map showing the difference in age of first time homeowners by decade. In the early 80s it was like 32 yo for California and 29 for Texas. With such small difference, it certainly explains why you can't throw a rock in California without hitting a Texan.
If you could get a house in a place like California at almost the same age, why wouldn't you. The weather and geography are ten times better. Actually the geography...maybe 100 times better.
And that was when we were still getting Republican governors too. So even that was covered pretty well.
It's only fairly recently that Californians have been pushed out of California in search of other places to get their first homes now. Including places like Texas which remained relatively cheap until just recently.
Unfortunately, everybody just had to move out here and it priced California out.
I suppose for those of us who are from here though, it turned a $250,000 home bought and paid for in the early 90s into a $2.25 million home now. So I guess some things good did come out of it.
As much as I dislike the politics out here, it's pretty hard for me to leave. If I can afford to live here, I may as well. I like places like Texas, Tennessee and Idaho okay but that would be a hard trade to give up that house and the weather and the geography I have here.

TrojanMoondoggie said:

---

Someone posted a map showing the difference in age of first time homeowners by decade. In the early 80s it was like 32 yo for California and 29 for Texas. With such small difference, it certainly explains why you can't throw a rock in California without hitting a Texan.
If you could get a house in a place like California at almost the same age, why wouldn't you. The weather and geography are ten times better. Actually the geography...maybe 100 times better.
And that was when we were still getting Republican governors too. So even that was covered pretty well.
It's only fairly recently that Californians have been pushed out of California in search of other places to get their first homes now. Including places like Texas which remained relatively cheap until just recently.
Unfortunately, everybody just had to move out here and it priced California out.
I suppose for those of us who are from here though, it turned a $250,000 home bought and paid for in the early 90s into a $2.25 million home now. So I guess some things good did come out of it.
As much as I dislike the politics out here, it's pretty hard for me to leave. If I can afford to live here, I may as well. I like places like Texas, Tennessee and Idaho okay but that would be a hard trade to give up that house and the weather and the geography I have here.

---

The last time I went to Yosemite National Park ( approximately 6 years ago ) the filthy air pollution stretched from the mountain ridges continuously down the valley hundreds of miles to the LA airport.

Can't imagine dealing with that for weeks at a time.

Car insurance is a disaster right now.

The average premium has already risen *15%* in 2024 to an annual price of $2,329.

But that's not all -

Average premiums are forecasted to cost $2,469/yr by 2025 — $450 more annually than in 2023.

The worst state of all?

Maryland — cost…

— Car Dealership Guy (@GuyDealership) August 13, 2024