So when’s the housing bubble bursting?

LordSinister

One Punch Mayne
Super Moderator
Take a look at this home I found on Realtor.com
4339 Metropolitan Ave, Dallas
$200,000 · 3beds · 2.5baths


Take a look at this home I found on Realtor.com
4015 Metropolitan Ave, Dallas
$200,000 · 3beds · 2baths

Both of these shits already have pending offers. There's not an abundance of homes at that price. And you notice there are no pictures of the inside of the first listing or the other one. Immediate red flag.
 

A to Dah K

Rising Star
BGOL Investor
Both of these shits already have pending offers. There's not an abundance of homes at that price. And you notice there are no pictures of the inside of the first listing or the other one. Immediate red flag.
 

tebriel69

Rising Star
BGOL Investor
Interesting thanks for that info. I actually purchased a condo back in 2006 right in downtown Oakland . I had two mortgages. One fixed the second was an Arm. The ARM went from 4% to like 7.6% or something. I ended up foreclosing on that when I tried to do a short sale I was getting low balled like crazy and the bank wasn’t going for the offers and it ended up foreclosing. The worst part of the condo were my monthly HOA’s were $500 and I had no pool or anything
Isn’t it bad when u foreclose? How are u able to still sell and flip? Wont this affect ur credit?
 

Dr. Truth

GOD to all Women
BGOL Investor
Isn’t it bad when u foreclose? How are u able to still sell and flip? Wont this affect ur credit?
That was in 2011 during the whole melt down from 2008/2009 after 7 years your credit is repaired and there’s no record of it but yes it’s not a good thing.
 

Hey Julian!

Rising Star
BGOL Investor
Both of these shits already have pending offers. There's not an abundance of homes at that price. And you notice there are no pictures of the inside of the first listing or the other one. Immediate red flag.
Yeah, I was just doing a quick search for new homes in Texas under $200k. I’m honestly surprised to find any new construction in Dallas for $200k, but my point was starter homes are available widely in Texas for $200k. A major city like Dallas is gonna have a higher cost of living though. Y’all get my point. Hope your son finds a good deal. I imagine if these two were on the market at $200k if he looks a little further up the price range around $250k he’ll find more deals. :cool:
 

moblack

Rising Star
BGOL Investor
I can never exist in that place called Cali. Someone told me that my home in Atlanta would be a $7m home in Cali. If that’s the case I’d be homeless. Fuck the beaches.

Alabama got better beaches imo if you into fishing.
 

Dr. Truth

GOD to all Women
BGOL Investor
Just went off shore last weekend for 12 hours. Caught hella Red Snapper, and Vermillion Snapper.
We don’t even have red snapper out here. They try to fool Niggas calling Rock Fish red snapper. I used to go fishing in the inter coastal down in Florida and go to family Fish Fry’s in Miami so I know what a real snapper tastes like. Lawd it’s so got damn good with some lime crystals hot sauce and pigeon peas and rice!!!
 

Day_Carver

Rising Star
BGOL Investor
Never get a Variable rate. Always go fixed. Variable rates or for people usually doing flips. If you plan on staying there always go fixed. Variable rates and ARMS are what fucked mad people during the 2008 collapse. Start off low then after 5 years their rate shot up double causing their mortgage rate to go crazy.
Rich people always used, in the past, variables and different types of ARMS; because most of them have 2nd and 3rd etc homes and only be in those spots for 10 or less years. Those different types of products didn't fuck up the market. When banks started giving those products, a long with no docs loans, to flippers, builders, investors, and non rich people; that's what fucked shit up; but hey the banks and the rich got bailouts so....
 

blackbull1970

The Black Bastard
Platinum Member
Vegas Residents Worry About Housing Recession As Home Sales Fall

Sales of homes are dropping across the country and economists now believe we are heading into a housing recession because builders just aren't building!

 

DC_Dude

Rising Star
BGOL Investor
What goes up must come down.

Housing prices in Atlanta and the metro are unrealistic right now.

Seeing cookie cutter townhomes in Tucker for "low 800s."


Is Tucker in the city limits or something? I thought DC was one of the only places where you can see townhomes range from $700,000 up to over $1 million and be on the out skirts (10 min.) from downtown....
 

blackbull1970

The Black Bastard
Platinum Member
Average Monthly Rent In Manhattan Hits Record $5000/month

Anybody paying this shit and struggling to pay it, definitely needs to get slapped silly.

I pay just over $900/month on a 1600sq ft, 3 bedroom home, 2 baths, 3 car garage that was built brand new back in 2003.

Straight up stupidity paying $5000/month rent.

I would take next month’s rent and haul ass one-way out ASAP.

 

Dr. Truth

GOD to all Women
BGOL Investor
Average Monthly Rent In Manhattan Hits Record $5000/month

Anybody paying this shit and struggling to pay it, definitely needs to get slapped silly.

I pay just over $900/month on a 1600sq ft, 3 bedroom home, 2 baths, 3 car garage that was built brand new back in 2003.

Straight up stupidity paying $5000/month rent.

I would take next month’s rent and haul ass one-way out ASAP.


You think 2 million people can just uproot their whole family and job and move to where they can pay what you pay? Not everyone wants to live in the Midwest or south. Besides that’s Manhattan. You can find reasonable prices in Brooklyn, queens, Long Island etc. Manhattan is rich people shit
 

havelcok

Rising Star
Platinum Member
Vegas Residents Worry About Housing Recession As Home Sales Fall

Sales of homes are dropping across the country and economists now believe we are heading into a housing recession because builders just aren't building!



vegas is full of half built "luxury" apartments

i kept asking my wife, who are they building all these apartments for?
i moved here 4.5 years ago
rented a 1 bed 1 bath for 800 a month

looked it up last week it snow 1700
 

DC_Dude

Rising Star
BGOL Investor
vegas is full of half built "luxury" apartments

i kept asking my wife, who are they building all these apartments for?
i moved here 4.5 years ago
rented a 1 bed 1 bath for 800 a month

looked it up last week it snow 1700
Yup same here in DC. Every new building being built is luxury apartments and condos. I’m like where are these new people coming from or what do they know I don’t know.

I even read recently that a lot of buildings that are now empty because of businesses going out of business are thinking of converting their space into condos.

Downtown DC is a ghost town during the day even now.
 

blackbull1970

The Black Bastard
Platinum Member
You think 2 million people can just uproot their whole family and job and move to where they can pay what you pay? Not everyone wants to live in the Midwest or south. Besides that’s Manhattan. You can find reasonable prices in Brooklyn, queens, Long Island etc. Manhattan is rich people shit

Even in Brooklyn/Queens like the video stated, the price is outrageous.

And remember, this is rent. What the Fuck do you get in return for $5000 a month?

You can’t deduct on your taxes like mortgage insurance.

And when you do the math, it equates to $60/k a year. That’s a yearly income for majority of Americans….and a lot of them have a mortgage.

Then you got to add on your monthly living expenses just to live in that unit that could push it up more than $80k/yr.

And it’s not just NYC. Other large metropolitan cities across the USA are robbing tenants blind on rent.

It’s why in earlier posts I have made in this thread on alternative residential living like tiny homes and RV’s.

You paying $60k/yr in rent…..that’s a Fucking down payment on one of these mofos with all the bells and whistles brand new right off the assembly line.

1084_stacked-2-400x402.jpg

White folks are getting smart on these mofos along with tiny homes.

White folks will profit in the long term on alternative residential living. By the time Black folks get smart on it, the ship has sailed on benefiting from it.

Like I pointed out earlier you gotta think outside the box. Folks are stuck in the “20th Century” way of living and need to move forward in how they look into residential living.

The same way residential living changed from farm living to city living at the start of the 20th Century.

You paying $5k month rent….you really need to sit down and put some serious thought in what you are doing when you write that check and hand it over.

Do you cats understand what you can do with $5000 and how much that is?
 

Dr. Truth

GOD to all Women
BGOL Investor
Even in Brooklyn/Queens like the video stated, the price is outrageous.

And remember, this is rent. What the Fuck do you get in return for $5000 a month?

You can’t deduct on your taxes like mortgage insurance.

And when you do the math, it equates to $60/k a year. That’s a yearly income for majority of Americans….and a lot of them have a mortgage.

Then you got to add on your monthly living expenses just to live in that unit that could push it up more than $80k/yr.

And it’s not just NYC. Other large metropolitan cities across the USA are robbing tenants blind on rent.

It’s why in earlier posts I have made in this thread on alternative residential living like tiny homes and RV’s.

You paying $60k/yr in rent…..that’s a Fucking down payment on one of these mofos with all the bells and whistles brand new right off the assembly line.

1084_stacked-2-400x402.jpg

White folks are getting smart on these mofos along with tiny homes.

White folks will profit in the long term on alternative residential living. By the time Black folks get smart on it, the ship has sailed on benefiting from it.

Like I pointed out earlier you gotta think outside the box. Folks are stuck in the “20th Century” way of living and need to move forward in how they look into residential living.

The same way residential living changed from farm living to city living at the start of the 20th Century.

You paying $5k month rent….you really need to sit down and put some serious thought in what you are doing when you write that check and hand it over.

Do you cats understand what you can do with $5000 and how much that is?
LOL I agree paying that much in rent is cray but most people can’t afford to save enough for a down payment on a crib. Even if 3% down is an option.
 

Day_Carver

Rising Star
BGOL Investor
What goes up must come down.

Housing prices in Atlanta and the metro are unrealistic right now.

Seeing cookie cutter townhomes in Tucker for "low 800s."
Is Tucker in the city limits or something? I thought DC was one of the only places where you can see townhomes range from $700,000 up to over $1 million and be on the out skirts (10 min.) from downtown....
Bay Area and LA area
Ok gotcha. I was thinking townhomes in ATL. No way! Lol
In Buckhead on the street East Andrews,, they have town 1 million plus! They nice but not a million nice. In Brookhaven they starting at million. Seen some for 1.5 million or more :eek2: :smh: go into Vinings and then shit is stupid!! Parts of metro Atl is ridiculous...
 
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