Home buying market

[pdx1]

I did the same thing last year, liquidated some guns and bought my first house.
Best decision I've made in a while.. I only wish I would have done it sooner.
Interest rates are on their way up, but when the money is more expensive to borrow, the prices will come down.
But the more money they print, the less your dollar is worth.... double edged sword

80% of all US money in existence was printed in the last 22 months

So yes, million dollar homes will be the norm, but so will a $50 minimum wage

 

[Savage Jav]

Here's how that goes:
You can post a list here.
Whatever people offer you for any particular item on this board, assume they're offering about half of what it's actually worth
Then take it to GunBroker, compare, and sell for what you want to get out of it.

Prefer to sell local, gives me a chance to buy them back when I have spare cash.

 

[Savage Jav]

I did the same thing last year, liquidated some guns and bought my first house.
Best decision I've made in a while.. I only wish I would have done it sooner.
Interest rates are on their way up, but when the money is more expensive to borrow, the prices will come down.
But the more money they print, the less your dollar is worth.... double edged sword

80% of all US money in existence was printed in the last 22 months

So yes, million dollar homes will be the norm, but so will a $50 minimum wage

Surprisingly difficult to narrow down what I want to keep. I guess I have good taste.

 

[pdx1]

Lol, I kept the good stuff

 

[Savage Jav]

Nice. I think ill keep my RPKs but my Zentico "Alpha" AK is on the chopping block

 

[Savage Jav]

Lol, I kept the good stuff

View attachment 1149373

I listed some bakes and a slab if your interested.

 

[Savage Jav]

Looks like its all going to go through. Id like to find a couple roommates that are more like minded about firearms ownership. Not sure this forum is the right age range for that (assuming most on here have families or no longer wish to live with roomates) but if you know anyone looking for a room in the Clackamas area that would be great. Especially other military/Vets/ first responders/ medical workers.

 

[ma96782]

I'm curious if anyone thinks interest rates will come down in which case I should wait or snatch it up while I can.

Well.......Yes, I noticed that this thread was started a couple of days ago.

BUT, But, but.......I don't think HE cares that you're thinking of buying a home. Besides.....he has been sort of "telegraphing" his intent for awhile.

Fed Raises Interest Rates for First Time Since 2018

The U.S. central bank signals the quarter-point increase will be followed by six more increases this year to stop the economy from overheating and combat inflation.

www.wsj.com

Aloha, Mark

 

[Devneck]

If you're looking at buying, I would suggest not trying to time a dip or crash. About 6 years ago we were thinking the same thing. Wait a couple years and hope for a correction to buy. But what's the effect of that? How far do you realistically think a correction would drop?

Do the math. If you bought today for 100k and it increases an average 10% a year then by the 4th year a 35% correction basically breaks even. Anything longer than 4 years and even a 35% drop and you're still in the black. Even if you were under water. As long as you aren't trying to flip the house then you'll get ahead (likely) at some point.

 

[UnderFire]

I see no reason to wait to buy. The market has largely evolved since the 2008 crash, in a way that an ever-growing percentage of single family homes are owned by massive corporations. These corporations will be deemed "too big to fail" if a crash does come, that's if they haven't attained that status before then.

In the event of a crash I would estimate that most of the "good deals" will be swept up by these types of corporations off market.

There are multiple things that make me think this. The government is already heavily pushing in favor of a renter's market, along with the use of real estate as a primary investment vehicle for not only individuals, but large companies as well soaks up a lot of supply.

Demand stays high with the now industry standard 30 year mortgage the payments on an average home will match up almost exactly to half of the average annual income of a two income household, the only thing I can see driving demand down would be interest rate hikes, but I doubt that would do much to property values with so much money coming from investors.

The only way the housing market will ever go back down significantly is if something really big, and really bad for your average homeowner happens, and there will be a lot of people upside down if that happens.

 

[Savage Jav]

Well.......Yes, I noticed that this thread was started a couple of days ago.

BUT, But, but.......I don't think HE cares that you're thinking of buying a home. Besides.....he has been sort of "telegraphing" his intent for awhile.

Fed Raises Interest Rates for First Time Since 2018

The U.S. central bank signals the quarter-point increase will be followed by six more increases this year to stop the economy from overheating and combat inflation.

www.wsj.com

Aloha, Mark

Too late i locked in a 3.75% interest rate. The numbers add up and im ok with them

 

[Provincial]

I see no reason to wait to buy. The market has largely evolved since the 2008 crash, in a way that an ever-growing percentage of single family homes are owned by massive corporations. These corporations will be deemed "too big to fail" if a crash does come, that's if they haven't attained that status before then.

In the event of a crash I would estimate that most of the "good deals" will be swept up by these types of corporations off market.

There are multiple things that make me think this. The government is already heavily pushing in favor of a renter's market, along with the use of real estate as a primary investment vehicle for not only individuals, but large companies as well soaks up a lot of supply.

Demand stays high with the now industry standard 30 year mortgage the payments on an average home will match up almost exactly to half of the average annual income of a two income household, the only thing I can see driving demand down would be interest rate hikes, but I doubt that would do much to property values with so much money coming from investors.

The only way the housing market will ever go back down significantly is if something really big, and really bad for your average homeowner happens, and there will be a lot of people upside down if that happens.

In this case, the definition of "investors" is pension money channeled through the likes of Blackrock. Huge amounts of that money is coming from public sector pensions, which have promised large (and unrealistic) returns that will probably have to be made up with higher taxes.

For the middle class, this means that the pension funds are competing with them for housing, and will be reducing their available income with the higher taxes. The public sector is reducing the buying power of the private sector. Few realize that this is going on. Those who do get ridiculed if they speak out.

Meanwhile, a large segment of the threatened middle class votes for politicians that are all in with the "investors" bent on their destruction. "The government is already heavily pushing in favor of a renter's market" as you say above, because it is enriching the government employees.

 

[ma96782]

RE : Post #31

Congratulations.
Since you're OK with the rate.....that's GOOD.

Aloha, Mark

 

[Savage Jav]

RE : Post #31

Congratulations.
Since you're OK with the rate.....that's GOOD.

Aloha, Mark

Ty. Id love to have gotten in on those under 3% but 3.75 isnt bad

 

[Lilhigbee]

Ty. Id love to have gotten in on those under 3% but 3.75 isnt bad

In a few years when we start seeing 1980's-style interest rates of 13% or more you are going to be really happy with 3.75%. Just DON'T refinance!!

 

[ma96782]

Those bygone days of Jimmy Carter.

Aloha, Mark

 

[Savage Jav]

In a few years when we start seeing 1980's-style interest rates of 13% or more you are going to be really happy with 3.75%. Just DON'T refinance!!

I planned on keeping it for a bit so I dont plan to. Now I just need sell off a few guns so that I have more cash on hand. Thats my only worry is the "what ifs" that may come up.

 

[bkroger86]

Depending on where you're buying, you have at least 50-100 years of property value history to base your decision on.

But in general, the best time to buy was 5 years ago (or 10 years, or 20 years). The second best time is now.

I know my property has doubled in value since I bought it 6 years ago.

 

[frank linkh]

Nowadays you can't buy a doghouse for 100k. Do your research. That ship has sailed and it's not coming back

 

[bkroger86]

Nowadays you can't buy a doghouse for 100k. Do your research. That ship has sailed and it's not coming back

Not in Oregon. But in Nebraska, Arkansas, Alabama, and West Virginia, housing prices are about 50% less per square foot than here.