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January, 2025

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Housing market is so messed up.

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snowfinder
Posts: 2893 - Karma: 34,294
Been looking at homes for the past 8 months and still haven't found anything worthwhile and if I do some investment group swings in and buys it for cash over asking price so they can't rent it out with Airbnb. Just looked at a house for the price should be turnkey and up to date. Instead walked into a house and that has been a rental for the past four years by a foreign investment group and the people living there have literally destroyed it.

To sum this up fuck investment groups buying signal family homes and completely destroying the housing market. That shit be illegal.
Feb 19 2022 5:06PM
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PeppermillReno
Posts: 4879 - Karma: -788
snowfinderBeen looking at homes for the past 8 months and still haven't found anything worthwhile and if I do some investment group swings in and buys it for cash over asking price so they can't rent it out with Airbnb. Just looked at a house for the price should be turnkey and up to date. Instead walked into a house and that has been a rental for the past four years by a foreign investment group and the people living there have literally destroyed it.

To sum this up fuck investment groups buying signal family homes and completely destroying the housing market. That shit be illegal.


I'd have no problem disbanding something like Blackrock and giving all the houses away to people for free.
Feb 19 2022 5:13PM
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Lonely
Posts: 6870 - Karma: 64,404
Lighthouse for sale on the shores of superior for 550K

https://www.zillow.com/homedetails/38740-N-Jacobs-St-Lake-Linden-MI-49945/2068623925_zpid/
Feb 19 2022 5:38PM
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theabortionator
Posts: 52146 - Karma: 168,471
Yeah it's bleak these days
Feb 19 2022 5:45PM
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Casey
Posts: 7899 - Karma: 25,064
We were looking on Redfin or whatever like a month ago and came to the shocking discovery that there was not a single home for sale in our town of over 70,000 people.


Additionally I was looking at a Seattle times article that the median home price in Bellevue, WA just hit 1.56 million dollars, it’s on pace to beat San Fran as the most expensive city in the country, people are literally moving to the shitty parts of south Seattle because they can’t afford Bellevue.


The median home price in Monroe, WA is at 930k - up 30 percent in the last year. This is a tired old logging town that the state decided was enough of a dump to build a massive prison decades ago… now you literally need a mil to move there.
Feb 19 2022 7:23PM
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IHatePedophiles
Posts: 714 - Karma: -6,986
That's why I plan on spending a 5th of the cash, for something equally as nice. I'm buying a 35 foot RV for around 250k and living in it as well as driving around to resorts all over north America and surfing. The bigger rvs are so fucking nice the one I'm getting has a bath and quartz floors and shit.
Feb 19 2022 10:02PM
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freestyler540
Posts: 13150 - Karma: 19,451
West kootenays is like that too bud. Last year was a record for houses being bought and sold. Over a thousand houses exchanged hands, basically 1/10th of the population of town in houses got bought.

That drove up housing by 30% this year. What makes it worse is a landlord will buy up as much houses as possible, rent each place out to 4 or 5 people and not include a parking lot. Now the streets are enormous parking lots and every snow day is hell. Traffic is insane and accidents are out of control, not to mention hit and runs.

I just grew accustom that the fact of owning a house wont be possible until the market takes a dump
Feb 20 2022 9:54PM
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DrZoidberg
Posts: 5676 - Karma: 4,297
Hey at least they're building more $3000/month apartments by where I work so I can ensure I'll never save enough to buy a house.
Feb 22 2022 12:57PM
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snowfinder
Posts: 2893 - Karma: 34,294
DrZoidbergHey at least they're building more $3000/month apartments by where I work so I can ensure I'll never save enough to buy a house.


how many homes did they knock down to make those apartments?
Feb 22 2022 1:17PM
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DrZoidberg
Posts: 5676 - Karma: 4,297
snowfinderhow many homes did they knock down to make those apartments?

No homes actually. I forget what it was even but I'm pretty sure it's been vacant for a long time, at least ten years. Some sort of commercial property. At least around here, there's a lot of this going on. New "luxury" apartments either targeting people who wanted to get out of NYC or young 30 something couples who don't have a kid and are each remote software devs or whatever and make like 100k each.

In the nearby areas that are desirable to live in, that's where you have companies or otherwise people buying houses solely to rent them out, so it becomes impossible to own a home in that area since there's either none for sale or the minimum price is way too rich for most people. It's getting to be like art.
Feb 22 2022 2:49PM
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BigPurpleSkiSuit
Posts: 9472 - Karma: 69,797
PeppermillRenoI'd have no problem disbanding something like Blackrock and giving all the houses away to people for free.


Feb 22 2022 2:50PM
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skierman
Posts: 8452 - Karma: 8,102
Investment groups only make up for 10% of the market sales, the rest are rich fucks taking advantage of the low interest rates to purchase multiple houses so they can rent them out to families for $2,500 a month that cannot find an affordable 1st house and now they'll never be able to save up to afford one if the opportunity does come up. "You'll own nothing and you'll be happy."


Yet another reason why the rich are destroying this country.
Feb 22 2022 3:01PM
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Lemuel
Posts: 14535 - Karma: 11,045
Anyone who rents / Airbnb’s a house that is not their primary residence needs to be taxed to hell. That’s the only way this will stop. Anyone who “invests” in real estate for the sole purpose of making money off of overcharging people for rent and taking away a potential residence for a local is a scum bag.

Also, if you stay in an Airbnb instead of a hotel / bed & breakfast / inn / etc you are only helping this problem grow bigger. When I’m vacationing or visiting somewhere, I’m not doing it to sit around in some house. All I need is a place to sleep.
Feb 22 2022 6:13PM
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twinkle_toes
Posts: 812 - Karma: 9,686
LemuelAnyone who “invests” in real estate for the sole purpose of making money off of overcharging people for rent and taking away a potential residence for a local is a scum bag.

Agreed^

And the best part is the buyers are probably already filthy rich. Apparently owning 20 other rental properties isn't enough passive income for them to live comfortably ha
Feb 22 2022 11:47PM
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Jems
Posts: 7593 - Karma: 98,774
I LOVE RICH PEOPLE WHO LIVE IN THEIR SKI TOWN HOME FOR 2 MONTHS OUT OF THE YEAR
Feb 23 2022 12:15AM
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Biffbarf
Posts: 7008 - Karma: 74,153
Imma retire off investment properties and it's likely half the nerds complaining about them will too when they grow up. Skiers feel so damn entitled to the beautiful areas they enjoy while there's so much property in developing less desirable areas on the cheap.
Feb 23 2022 1:50AM
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IHatePedophiles
Posts: 714 - Karma: -6,986
JemsI LOVE RICH PEOPLE WHO LIVE IN THEIR SKI TOWN HOME FOR 2 MONTHS OUT OF THE YEAR


No problem 👍👍 I enjoy daddys home and skiing on my 189 atomic red racers, dick.
Feb 23 2022 4:19AM
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snowfinder
Posts: 2893 - Karma: 34,294
JemsI LOVE RICH PEOPLE WHO LIVE IN THEIR SKI TOWN HOME FOR 2 MONTHS OUT OF THE YEAR

more like 2 weeks tops.
BiffbarfImma retire off investment properties and it's likely half the nerds complaining about them will too when they grow up. Skiers feel so damn entitled to the beautiful areas they enjoy while there's so much property in developing less desirable areas on the cheap.

Less desirable areas tend to have less than desirable job markets. Hard to move to an area where there is a lack of work. Personally I'm not looking for at cheap homes or in areas that would be considered close to ski resorts. Sounds more like you are trying to justify being part of the problem, which you failed to do so.
Feb 23 2022 7:30AM
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Biffbarf
Posts: 7008 - Karma: 74,153
snowfindermore like 2 weeks tops.

Less desirable areas tend to have less than desirable job markets. Hard to move to an area where there is a lack of work. Personally I'm not looking for at cheap homes or in areas that would be considered close to ski resorts. Sounds more like you are trying to justify being part of the problem, which you failed to do so.

The job market is irrelevant when you can work remote, and even then job market and desirability aren't always exclusive to each other. Plenty of money to be made in the south or midwest where the cost of living is very reasonable for most professionals. It's not like people flock to mountain towns or beachfront properties for the career prospects anyways.
Feb 23 2022 10:15AM
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DrZoidberg
Posts: 5676 - Karma: 4,297
skiermanInvestment groups only make up for 10% of the market sales, the rest are rich fucks taking advantage of the low interest rates to purchase multiple houses so they can rent them out to families for $2,500 a month that cannot find an affordable 1st house and now they'll never be able to save up to afford one if the opportunity does come up. "You'll own nothing and you'll be happy."


Yet another reason why the rich are destroying this country.


This basically. Everybody shits on the investment people, but it's largely just a bunch of multimillionaire people doing exactly this. You get one, rent it out, when it's paid off you use the profits to get the next one. A few years of that and you move into one of them then buy a third by borrowing against your assets, knowing they'll never be worthless and you have zero chance of losing this game. A few more years and these people own like five properties for their one family within a 3 block radius.

I know most of NS doesn't live near the beach, but it's especially bad as you get closer to the coast.
Feb 23 2022 10:18AM
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snowfinder
Posts: 2893 - Karma: 34,294
BiffbarfThe job market is irrelevant when you can work remote, and even then job market and desirability aren't always exclusive to each other. Plenty of money to be made in the south or midwest where the cost of living is very reasonable for most professionals. It's not like people flock to mountain towns or beachfront properties for the career prospects anyways.


Don't think you quite understand how the world works. Not everyone can up and move across the country and not everyone works from home.
Feb 23 2022 11:52AM
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Biffbarf
Posts: 7008 - Karma: 74,153
snowfinderDon't think you quite understand how the world works. Not everyone can up and move across the country and not everyone works from home.


Sounds like you're making excuses because most people can at least move for better job prospects.
Feb 23 2022 11:56AM
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snowfinder
Posts: 2893 - Karma: 34,294
BiffbarfSounds like you're making excuses because most people can at least move for better job prospects.

Getting high school vibes from you.
Feb 23 2022 12:00PM
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Biffbarf
Posts: 7008 - Karma: 74,153
snowfinderGetting high school vibes from you.

Sure man
Feb 23 2022 12:02PM
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snowfinder
Posts: 2893 - Karma: 34,294
BiffbarfSure man


Not everyone is in the position to leave their current job to move to a complete different area just for a nice house. People have families, ties to communities, good jobs, kids in good school systems ect... To say just up and move to a different area and find a better job sounds like someone that is either a student that hasn't experienced real work life, a rich kid that doesn't understand how the world works for the majority of people. By your statement that you plan to retire of investments you could be a combo of the two.
Feb 23 2022 12:07PM
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Biffbarf
Posts: 7008 - Karma: 74,153
snowfinderNot everyone is in the position to leave their current job to move to a complete different area just for a nice house. People have families, ties to communities, good jobs, kids in good school systems ect... To say just up and move to a different area and find a better job sounds like someone that is either a student that hasn't experienced real work life, a rich kid that doesn't understand how the world works for the majority of people. By your statement that you plan to retire of investments you could be a combo of the two.


All valid points why someone won't want to move. But won't want to =/= can't.
I love how people paint a picture of me, it is super entertaining.
Feb 23 2022 12:31PM
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snowfinder
Posts: 2893 - Karma: 34,294
BiffbarfAll valid points why someone won't want to move. But won't want to =/= can't.
I love how people paint a picture of me, it is super entertaining.

You were painting a picture of my situation and it wasn't what you assumed it was.
Feb 23 2022 12:54PM
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Biffbarf
Posts: 7008 - Karma: 74,153
snowfinderYou were painting a picture of my situation and it wasn't what you assumed it was.


You're probably right. My mistake. Where are you looking to buy?
Feb 23 2022 1:03PM
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Biffbarf
Posts: 7008 - Karma: 74,153
BiffbarfYou're probably right. My mistake. Where are you looking to buy?


Crickets
Feb 24 2022 10:26AM
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snowfinder
Posts: 2893 - Karma: 34,294
BiffbarfYou're probably right. My mistake. Where are you looking to buy?


north east
Feb 24 2022 11:32AM
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GrandThings
Posts: 3220 - Karma: 32,778
Ive been working a corporate office job for the past 7 years, am debt free, drive a shitty car, live quite below my means in an attempt to save money, and don't spend money on frivolities and I'm still years away from sniffing a down-payment house anywhere within an hour of Boston and it fucking sucks.
Feb 24 2022 2:21PM
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deadhead420
Posts: 1921 - Karma: 17,113
IHatePedophilesThat's why I plan on spending a 5th of the cash, for something equally as nice. I'm buying a 35 foot RV for around 250k and living in it as well as driving around to resorts all over north America and surfing. The bigger rvs are so fucking nice the one I'm getting has a bath and quartz floors and shit.


Quartz floors aren’t very scum core
Feb 28 2022 11:53AM
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