D&D and the rising pandemic

[Deset Gled]

Real estate: 'Cause they ain't making any more of it

I think this was meant to be a joke, but my understanding is that this is literally the problem. We, as a people, stopped making as many new homes last year. We're starting to make more, but there are lots of parts shortages (lumber got a lot of attention, but it's not the only one) and labor issues. The end result is that demand is much greater than supply.

folks who just don't want to pay taxes but still want to reap all the profits

Just quoting this. No particular reason.

 

[FitzTheRuke]

I know right now that the house I just bought three months ago will be worthless by the time I retire. It's not a nice feeling.

Correct me if I'm wrong about any of this (I have friends who live in Japan and I've been there six or seven times) - As a gaijin, you don't ever even have the option of owning the land, you just have the rights to the house and its use?

 

[Dannyalcatraz]

here in the land of Texas, once I get to be OldEnough, property taxes freeze. That number is 65 or some higher number I can only hope to aspire to. Like very retiremed old people age. Haven't looked it up.

Definitely not 50, and I can assure you, the rate has gone up, year over year from when I was a younger home owner to the much, much closer to 50 home owner. A punk buying a home now is paying the same interest I am.

As I recall from discussions with my folks, 65 is indeed the magic number.

 

[Dannyalcatraz]

Correct me if I'm wrong about any of this (I have friends who live in Japan and I've been there six or seven times) - As a gaijin, you don't ever even have the option of owning the land, you just have the rights to the house and its use?

That’s not unheard of. I believe Mexico has a similar rule.

 

[Ryujin]

I think this was meant to be a joke, but my understanding is that this is literally the problem. We, as a people, stopped making as many new homes last year. We're starting to make more, but there are lots of parts shortages (lumber got a lot of attention, but it's not the only one) and labor issues. The end result is that demand is much greater than supply.

It both was and wasn't a joke. I was paraphrasing Mark Twain: "Buy land, they're not making it anymore".

 

[Cadence]

New student convocation is on, bring your parents, pack the coliseum! (And don't worry, the state says we can't require masks or immunizations).

 

[Maxperson]

Yet another reason to live in Texas: even our pricey real estate is cheaper. I live in one of the upper middle class suburbs of Dallas, and $520k will get you a house somewhere around 2200sq ft.

There are suburbs here where that will get you closer to 5000 sq ft.

(There are also suburbs here where that will get you living in someone’s pool cabana…)

We just spent $940k last year here in Los Angeles for 2700. It's pricy here as well.

 

[Snarf Zagyg]

We just spent $940k last year here in Los Angeles for 2700. It's pricy here as well.

Average (just average) price of a house in my area has gone from $580k (2015) to 800k (now).

But single family homes went from 700k to 1 million in the same time. More impressively, they went from $900k at the beginning of this year (2021) to July, which is an increase of 100k in this time. On average. That's not just "expensive subdivisions."

And even that's understating the market. It's driven by cash- people who want to buy with financing? Ha. Good luck with that. I knew someone who secured financing for up to $1.2 million, and they've been shut out of the market completely. They cannot compete with people (or ... entities) swooping in and offering cash. At that level.

 

[Cadence]

Average (just average) price of a house in my area has gone from $580k (2015) to 800k (now).

But single family homes went from 700k to 1 million in the same time. More impressively, they went from $900k at the beginning of this year (2021) to July, which is an increase of 100k in this time. On average. That's not just "expensive subdivisions."

And even that's understating the market. It's driven by cash- people who want to buy with financing? Ha. Good luck with that. I knew someone who secured financing for up to $1.2 million, and they've been shut out of the market completely. They cannot compete with people (or ... entities) swooping in and offering cash. At that level.

The trick feels like it would be to get pay like your area's, in a place like cost of living like my area's.... (well, trick for helping oneself).

 

[Maxperson]

Average (just average) price of a house in my area has gone from $580k (2015) to 800k (now).

But single family homes went from 700k to 1 million in the same time. More impressively, they went from $900k at the beginning of this year (2021) to July, which is an increase of 100k in this time. On average. That's not just "expensive subdivisions."

And even that's understating the market. It's driven by cash- people who want to buy with financing? Ha. Good luck with that. I knew someone who secured financing for up to $1.2 million, and they've been shut out of the market completely. They cannot compete with people (or ... entities) swooping in and offering cash. At that level.

Yep. We got lucky to get ours. We had been losing out on house after house after house. Once we got this one and were doing the final walk-through, we asked the other agent why we were picked and found out that we only got it because the former owners were racist