Should I get out of a fixer upper piece of shit condo before ze great reset? I can walk with enough cash for a small plot of land or a down payment on something small and rebuild. Some anon replied last night but the thread was archived before I could respond.
>>61370469Why would you buy before the crash? You could buy a lot more with the same savings by waiting a bit.
>>61370469Houses aren't overpriced at all retard, account for monetary inflation by dividing the median house price by the M2 money supply or by the price of gold.
>>61372493hello Mcfly
>>61372512CPI under reports real inflation and makes it look bigger than it actually is, like I said use either M2 or XAU. The reason it's unaffordable isn't because it's overpriced, it's because wages have stagnated compared to real inflation and no one earns shit anymore. Add in oppressive taxation of what you do earn and the economic system is quite obviously designed to make the poor income-centered working class poorer over time.
>>61372512They’re unaffordable not overpriced. The cost to build is expensive.
>>61372230I'm selling before the crash, not buying.>>61372493They may not be overpriced but market factors point toward a crash based on wage stagnation, unemployment, inventory and foreclosures.
update your chart dumbass
>>61372742It houses become priced less than the cost of the material and land investors will buy them and rent them. And they’re already not priced high
>>61372755And I could get in later at a better price instead of saving a half century old condo needing 25k in repairs. My income isn't stable either so this seems to be the best move.
>>61372493if you're pricing houses in gold then they're actually crashing right now lol
>>61372755that's not how it works
>>61372771I’ve been saying this for 10 years and I’m happy in retrospect that I bought 5 years ago. I still have a gut feeling it will crash but I could be proven wrong for another 10 years.
>>61372807That’s exactly what happened as soon as they became cheap via low interest loans.
>>61372803No its not crashing. It actually going up forever anon.
>>61372838I don't have the cash for the broken HVAC or other 20k in repairs to make it livable. What if I just cut and run and put the cash down on an investment loan later? 10% down
>>61372838>being incapable of reading
>>61372848Closing costs are expensive. You might be able to take a small equity loan on the home to fix the things that need to be fixed. People will know about the problems when they buy so pay now or lose out when you sell.
>>61372512Unaffordable for white computer science jeets
>>61372862I can't get anything financed with sub 650 credit and hardly any equity left. The market value is around 137 and I got an offer for a bit over 120 with all the repairs listed, they'll take it as is. It's actually a good exit with everything considered. There are cheaper units with newer roofs and HVAC...
>>61372874Sounds like you’ve made your mind and it makes sense to me. I’m doing that with a car j have currently. It’ll be worth it for someone that is into fixing cars or has a lift. Location is important also. Maybe not as much for you.
>>61372937A half century old condo doesn't appreciate the same as newer homes and will drop further than single family newer homes. It's an asymmetrical bet against myself to stay and wait on commissions. Unless someone can convince me otherwise. Why not park the cash in BTC, PMs and save up for a down payment, maybe buy a small plot of land innawoods?
>>61372947In my area real estate has been a great investment. I put 0 down and got 500k equity by it appreciating in value over the last five years. I am not saying that will happen again the next five years. Just like I won’t say that btc will be worth a million in five years and not 80k
>>61373032Forgot my main point. If you sell you still have to pay rent somewhere. Sometimes paying a mortgage isn’t much more than renting in today’s market.
>>613730381400 for the mortgage vs 600 for rent and storageI feel drained daily by the property just waking up in an unfinished home and being unable to do the repairsIt's also old and appreciates slowly, something like 1-3% per year on average
>>61372493You're so retarded. Only a midwit could get himself to believe such retardation.
>>61373050The 1400 is with insurance, taxes, etc
>>61373064Also it's a HELOC which will go up by about 400 a month in late 2029
>>61373057Talking to most builders he’s not wrong. It’s a tough business because the cost to build is high and people don’t have money. Sounds like Germany where even doctors can’t afford houses.
>>61373075It couldn’t hurt to look for a house you do like and list your house in the meantime. You don’t have to sell if you change your mind.
>>61370469Yes. Condos aren't a good investment. You constantly bleed money with the fees. Investing in real estate means buying land that you own.
It all comes down to how easily available credit is.As long as they keep on giving people money the prices will go up and I don't think they're done pumping quite yet. They can saturate people with a bit more debt and make the line go up more.I bet we have at least one more leg up, which will be the final bubble stage. Of course you won't lose anything by selling now, but you might miss out on the final fomo hype stage and that might be a year or two from here.Remember that from the top it'll be 4 long years on average for the housing prices to actually bottom out, so you'll be holding onto your wealth for a while if you sell now and this takes couple of years for the bubble to pop.
>>61373090I found a condo apartment sort of place for around 100k, there are a few of these in decent enough areas. No covered parking but could put 10k down with no income verification on an investment loan, rent it out for a year and move in with a roommate. I'm literally crashed out and burnt out from living here.
>>61370469Just a warning, though. There won't be a great reset. There will be a crash and an attempt to revive the economy with money printing that just leads to massive Argentina style inflation and chaos. The crash will be a deflationary event, so you should wait until that happens to slurp up land and gold. Now is a good time to sell your condo and find a cheap place to rent depending on where you live. Some real estate markets have already crashed.
>>61372512This isn't a pure speculation bubble. Home prices went up with inflation.
>>61373165Which is an even stronger case against an old fixer upper. If new builds follow inflation, older builds won't gain as much. Better to open up more options later on while liquid I think.
>>61373155>that just leads to massive Argentina style inflationIt is very difficult to go through that. I remember an Argetntina anon years ago on this board describing how he was using crypto and stablecoins instead of cash for his savings, only liquidating whatever he needed for daily expenses.>>61373124>100k condoIs this in America? How many sq feet?I sold by 75 m2 condo in a South European shithole for 135k.
>>61373184It's around 700 something sqft and not in a bad area, second floor apartment type building but says it's a condo
>>61372560>Houses aren't overpriced>>61372560>wages have just stagnated
>>61373243what's more likely, house prices going down or wages suddenly sky rocketing? hmmmm
