So when’s the housing bubble bursting?
- Thread starter Dr. Truth
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Priced Out: Sedona, AZ. Workers Sleeping In Cars
The Sedona City council has given the green light to a controversial project to let some workers sleep in their cars overnight. The plan, which aims to ease an affordable housing issue in the growing tourist town, was approved on Wednesday after a long and contentious city council meeting.
The Sedona City council has given the green light to a controversial project to let some workers sleep in their cars overnight. The plan, which aims to ease an affordable housing issue in the growing tourist town, was approved on Wednesday after a long and contentious city council meeting.
3 Mortgage Tips to Save Money
These totally doable hacks could save you thousands over the years.
Helped dad do his taxes earlier this month. He has a rental property up at Whistler. He's owned it since just before the mid-90s. Small place - 1 bedroom - under 400 square feet - at one of the condos there. Bought it 30 years ago at $100k-something. It's assessed at just over 500k now. Building staff maintain the place when you're not there, and also ready it for when guests arrive (either yourself or friends you've lent it out to / strangers who are renting it).
Only rents it out part-time and it still proves profitable ... rental income just under 41,000 last year.
Mostly during the peak season months when people want to visit the mountain. Other times it's just vacant.
en.wikipedia.org
Only rents it out part-time and it still proves profitable ... rental income just under 41,000 last year.
Mostly during the peak season months when people want to visit the mountain. Other times it's just vacant.
Whistler, British Columbia - Wikipedia
Talked to a friend of mine the other day. His neighbor's currently selling their condo.
2 bed, 2 bath - 966 square feet - $798,000.
The assessed value as of July 2003 is listed at $748,000.
They bought it for $562,450 in June 2017.
The previous buyer purchased it for $370,000 in May 2008.
2 bed, 2 bath - 966 square feet - $798,000.
The assessed value as of July 2003 is listed at $748,000.
They bought it for $562,450 in June 2017.
The previous buyer purchased it for $370,000 in May 2008.
So Vancouver housing must be expensive
The property brothers were on CNBC yesterday and was saying Canada has a lot of home buying programs for citizens
@DC_Dude
Did the bulk of my work in the 2000s ... working like crazy trying to save as much for a downpayment. Working doubles regularly. Multiple employers, etc. Even then I thought sales / purchase prices weren't good, and that was 15 years ago.
Went to open houses over the course of 6 months from the fall of 2008 until the end of the 1st quarter of 2009.
Pretty much every weekend ... primarily in the following areas - Vancouver, Richmond, Burnaby, New West, Port Moody, Coquitlam, Port Coquitlam, Maple Ridge, and Langley.
Looking at places that were brand new to about 35 years old. Trying to get a feel for everything that was out there.
It's crazy looking at assessed values now ... home included ... which are nearly 2.5 times assessed value at how much I paid back then. Definitely feel for everyone in the rental & home-buying markets. First-time buyers, etc. Renters who are being spread thin with their finances. It's all a shit show really ...
Did the bulk of my work in the 2000s ... working like crazy trying to save as much for a downpayment. Working doubles regularly. Multiple employers, etc. Even then I thought sales / purchase prices weren't good, and that was 15 years ago.
Went to open houses over the course of 6 months from the fall of 2008 until the end of the 1st quarter of 2009.
Pretty much every weekend ... primarily in the following areas - Vancouver, Richmond, Burnaby, New West, Port Moody, Coquitlam, Port Coquitlam, Maple Ridge, and Langley.
Looking at places that were brand new to about 35 years old. Trying to get a feel for everything that was out there.
It's crazy looking at assessed values now ... home included ... which are nearly 2.5 times assessed value at how much I paid back then. Definitely feel for everyone in the rental & home-buying markets. First-time buyers, etc. Renters who are being spread thin with their finances. It's all a shit show really ...
Yeah - there's some stuff like first-time home buyers program, etc. But even still ... quite expensive.
Put it this way ... my late grandparents purchased their house in 1959 for x amount. Something small. They passed in 2006 and 2008 respectively. My dad and aunt sold the home in 2009 in the low-600s. The couple that bought the place looked to do a number of renovations and put 200 - 300k into the property. Nice couple - they invited my dad and aunt to stop by anytime to take a look at the changes & updates / renos (as the house was in our family for 50 years). Nice gesture from them. As of summer 2022 the assessed value was 1,848,000.
The assessed value now as of July 2023 is 1,911,000.
DC,
Property Brothers are good guys ... friend of mine from high school was on their Buying & Selling show in the early-2010s with his wife and kids. They came in and helped them update their kitchen, living & dining rooms. Made the home much more livable.
Property Brothers are good guys ... friend of mine from high school was on their Buying & Selling show in the early-2010s with his wife and kids. They came in and helped them update their kitchen, living & dining rooms. Made the home much more livable.
What is a halal mortgage? How interest-free home financing works in Canada - National | Globalnews.ca
As part of the 2024 federal budget released last week, Ottawa said it is 'exploring new measures to expand access to alternative financing products, like halal mortgages.'
globalnews.ca
Can Highrises Be Neighbourly? It’s Complicated | The Tyee
As Vancouver changes, so do the ways people can choose, or reject, community.
Calgary Has Big Housing Plans. Residents Would Like a Word | The Tyee
When cities stifle citizen engagement, it’s not just bad for democracy. It can backfire.
Did you mean 2023 instead of 2003?
That thing will be worth $1M before the end of the decade.
Yes - my bad. Their assessed value in July 2023 = 748,000.
Currently (friend's neighbor) looking to sell it for 798,000.
Fergus, Ont. man feels nickel-and-dimed for $0.05 property tax bill
A property tax bill is perplexing a small townhouse community in Fergus, Ont.
What is a 'halal mortgage'? Does it make housing more accessible?
The 2024 federal budget announced on April 16 included plans to introduce “halal mortgages” as a way to increase access to home ownership.
Build your own shit, quit flooding into another group area to live. Redline out areas for yourself to live. They have the companies that can pick up and leave with ease. They can bankrupt their company and start over with another company in a white area.
The same thing with these colleges being overtaken by Indian and Asians, start your own University, why do you desperately need to attend their school.
If you start respecting other cultures, not trying to take it over, it is less likely to cause a backlash. I don't want to live with fourth grade savages.
These are the California cities where $150,000 still buys you a home. Could you live here?
Amid California's housing crisis, some small communities persist with property values well below the statewide norm.
www.latimes.com
Lmbaooo ain’t nobody trying to live in those hell holes . Might as well say marsThese are the California cities where $150,000 still buys you a home. Could you live here?
Amid California's housing crisis, some small communities persist with property values well below the statewide norm.
Muhammad Ali’s Knockout Former Los Angeles Mansion Is Going to Auction
The boxing icon bought the home in 1979 and lived there until 1984
www.mansionglobal.com
Home in Exclusive Golf Community in Florida Popular With Sports Stars Lists for $18.5 Million
The 12,000-square-foot mansion is one of 48 estate homes within The Bear’s Club
www.mansionglobal.com
Luxury Real Estate News - Mansion Global
Get the latest real estate news on luxury homes. Mansion Global produces original articles, data analysis, and insights on the international prime property market
www.mansionglobal.com
Warren Buffett’s real estate brokerage to pay $250mn over commission lawsuits
Settlement resolves second of Berkshire Hathaway’s three big legal entanglements over the past year
Warren Buffett’s Real Estate Brokerage Agrees to $250 Million Settlement
HomeServices of America, the largest residential real estate brokerage in the United States, will settle the claims brought by home sellers who said they were forced to pay inflated commissions, pending court approval.
Florida real estate agent discovers terrifying dungeon in home
Jessica Law posted a TikTok video of a 1958 house with a mysterious dungeon. Viewers have since speculated on the purpose of the room
This Vancouver mansion just hit the market for $48M. Take a look inside.
One of Vancouver's "finest private estates" – perched on a Point Grey property with ocean views – has hit the market for the staggering asking price of $48 million.
Florida real estate sellers slashing home prices as inventory surges to uncomfortable levels
Real estate inventory in parts of Florida is surging to uncomfortable levels — and sellers are beginning to slash prices, according to a report.
nypost.com
Why I Don’t Invest in Real Estate
Real estate has been a great investment all your life, so you think it will continue. But your life experience has been an outlier. Housing prices might stagnate or shrink in the coming decades.
unchartedterritories.tomaspueyo.com
Ontario, BC, and Nova Scotia Real Estate Prices Have Corrected The Most - Better Dwelling
Most Canadian real estate markets have seen prices decline, but they aren’t nearly as large as many may assume. Canadian Real Estate Association (CREA) data shows the composite benchmark (typical) home price declined significantly at the national level. However, breaking those numbers down shows...
betterdwelling.com
Home Prices Stagnate in Florida and Texas as Supply Soars
Housing supply in Cape Coral, FL and North Port, FL surged roughly 50% from a year earlier in March—more than anywhere else in the U.S.
www.redfin.com
Now might be the time to move to Florida as inventory levels surge and sellers slash prices
It may only be worth it, though, if you’re willing to pay higher insurance rates.
residential real estate | New York Post
Get the latest residential real estate news, articles, videos and photos on the New York Post.
nypost.com
Housing Market
Stay up to date on the latest housing market news and research about affordability, luxury housing, new construction homes, and more.
www.redfin.com
Nearly 40% of Homeowners Couldn’t Afford Their Home If They Were to Buy It Today
Many U.S. homeowners couldn’t afford to buy their home if they were to purchase it today because home prices have doubled over the last decade, and monthly housing costs are at an all-time high due to elevated mortgage rates.
www.redfin.com
Nearly 40% of Renters Think They’ll Never Own a Home, Up From 27% Last Year
Rising home prices and mortgage rates are making it harder to believe in the American dream of homeownership. Lack of affordability is the most commonly cited reason renters don’t believe they’ll ever own a home.
www.redfin.com
Nearly 20% of San Francisco Home Sellers Take a Loss on Their Sale, More Than Four Times the National Share
The share of San Francisco sellers losing money on their home sale is sitting near its highest level in more than a decade, largely because prices have come back down to earth after skyrocketing during the pandemic. Nationwide, the share of sellers losing money is much smaller (4%) because home...
www.redfin.com
Skipping Meals and Working Overtime: The Sacrifices Americans Make to Afford Housing
Roughly 1 in 5 people who struggle to afford housing have skipped meals and/or worked extra hours, while about 1 in 6 have delayed medical care.
www.redfin.com
Can’t Afford a House? Buy a Piece of One Instead
In a chaotic housing market that has shut many buyers out, fractional home ownership and investing trends are taking off.
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