Comment on Houses in my area increases 82% in just 4 years

shalafi@lemmy.world ⁨1⁩ ⁨month⁩ ago

• OsrsNeedsF2P@lemmy.ml ⁨1⁩ ⁨month⁩ ago

  If Big Macs, houses, gas and college tuition all went up, it’s time to realize these are not all in bubbles and instead realize due to inflation your salary has been halved.

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• Buttflapper@lemmy.world ⁨1⁩ ⁨month⁩ ago

  Y’all realize this is a bubble, right?

  Can you explain why you feel that way?

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• rauls4@lemm.ee ⁨1⁩ ⁨month⁩ ago

  Not really. The system will instead keep finding ways to get people to rent at higher prices or take out low down payment loans with ever larger monthly payments taking a lot more of take home salaries and making it harder than ever to save and invest.

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• chiliedogg@lemmy.world ⁨1⁩ ⁨month⁩ ago

  The rental aspect isn’t a bubble. Until they start viciously taxing single-family home rental, home prices are going to stay high because they’re not being bought as homes but as assets for rent-seeking.

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• WanderingVentra@lemm.ee ⁨1⁩ ⁨month⁩ ago

  Shout out to housing_bubble2@lemmy.world

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• this_1_is_mine@lemmy.world ⁨1⁩ ⁨month⁩ ago

  I feel sorry for any one whose bought a house over the last couple years.

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  • BigTrout75@lemmy.world ⁨1⁩ ⁨month⁩ ago

    Bought a house 5 years ago. Cheaper than renting and equity says I made 100k. It’s good.

    It’s just lame how expensive they are now. BTW, they were to expensive 5 years ago too.

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  • Mojave@lemmy.world ⁨1⁩ ⁨month⁩ ago

    I don’t, it’s strictly better than renting

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    • moseschrute@lemmy.world ⁨1⁩ ⁨month⁩ ago

      Is it though? My understanding is it’s more complicated than “simply better”. You need to account for property tax, home repairs, lack of mobility, housing market, etc.

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      • Rekorse@sh.itjust.works ⁨1⁩ ⁨month⁩ ago

        The main downside is you have to pay closing costs to move. That means you should plan to stay in the home at least a handful of years or else you’d lose money likely. But with the market the way it is, get a house ASAP cause its going up like a roller coaster.

        I bought mine 5 years ago and its gone up 50% in value since then.

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      • EndlessNightmare@reddthat.com ⁨1⁩ ⁨month⁩ ago

        It’s more along the lines of “buying is generally better than renting, but there are about 100 different factors to consider.”

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      • Mojave@lemmy.world ⁨1⁩ ⁨month⁩ ago

        My mortgage is significantly less than my last apartment down the road. $2700 vs $2100. And I get equity instead of throwing away my income to a faceless real estate corporation for no gain. Owning a house is 100% better in every way, unless you need to quickly move for some reason.

        But when you do move, you sell your house for ✨ profit ✨ because the housing market only goes UP for some retarded reason.

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    • this_1_is_mine@lemmy.world ⁨1⁩ ⁨month⁩ ago

      There are advantages I’m not actually culpable for all of the maintenance of my property my actual rent right now is just about on par with anybody who is going to be paying to purchase their house and granted I’m not actually gaining anything as far as property value I also didn’t have to come up with a down payment or jump through hoops and try and get the house in the first place and very safe in my position and I’m very capable at this point after having lived here for many years landlord hasn’t asked for a new lease in the last couple years so I could actually walk away at any moment… there are benefits but they’re few

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• possiblylinux127@lemmy.zip ⁨1⁩ ⁨month⁩ ago

  It depends on the area. Some places are actually gowning that fast in population

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