My Closet, My Office, My Nursery
How five New Yorkers turned their closets into extra rooms.
www.curbed.com
So when’s the housing bubble bursting?
- Thread starter Dr. Truth
- Start date
www.curbed.com
Who doesn’t know this?
Ontario woman in 'shock' by $2,500 vacant home tax bill for condo she lives in
An Ontario resident said she got a 'bit of shock' when she opened up a piece of mail from the City of Toronto last month, informing her that she owed more than $2,500 in taxes for the 'vacant' Scarborough condo where she currently resides.
$250 parking spot? Kitchener tenants battle landlord over parking price pressure
An ongoing battle between a landlord and tenants in Kitchener has sunk to a new low – a price hike for underground parking.
Perspective.
In 2022, wifey and I tried to purchase a house. We put in a couple of offers, but lost out because we couldn’t compete with people that was dropping +$30k in due diligence. Houses in my area at $400k were about $2400 a month (mortgage and every included) at interest rates around 5%.
In 2024, a house for $400k in my area is about $3250 a month.
I make about $20k more than I did in 2022 and it doesn’t seem to make much of a difference. I had to battle with my loan officers because their debt to income ratio is set at 43% giving me a loan of $365k.
Once I included my assets, they boosted back to $400k, but the reality still stands that we are in a housing shortage. I’m not buying anything for the sake of it, but now I’m conflicted with “should I drop +$40k of my savings as a downpayment towards a home that is over my pre-qualification offer?”
It is working tapping into your life savings to buy a house when the market is volatile? I’ll be 40 this year, and my career and business is doing well. However, I fear instability in the market. Any advice is appreciated.
In 2022, wifey and I tried to purchase a house. We put in a couple of offers, but lost out because we couldn’t compete with people that was dropping +$30k in due diligence. Houses in my area at $400k were about $2400 a month (mortgage and every included) at interest rates around 5%.
In 2024, a house for $400k in my area is about $3250 a month.
I make about $20k more than I did in 2022 and it doesn’t seem to make much of a difference. I had to battle with my loan officers because their debt to income ratio is set at 43% giving me a loan of $365k.
Once I included my assets, they boosted back to $400k, but the reality still stands that we are in a housing shortage. I’m not buying anything for the sake of it, but now I’m conflicted with “should I drop +$40k of my savings as a downpayment towards a home that is over my pre-qualification offer?”
It is working tapping into your life savings to buy a house when the market is volatile? I’ll be 40 this year, and my career and business is doing well. However, I fear instability in the market. Any advice is appreciated.
Unfortunately I believe you will have to use your savings just to compete with other buyers/investors.
That’s what I was thinking. They coming with big cash too.
Yeah they are. Californians are selling their homes in Cali and coming down south buying homes cash money. It's definitely hard to compete with that. Plus these investors trying to buy the entire subdivision.....smh.
That shit is mad discouraging.
Noticed that too w/ the realtors ads boasting about all their over-asking sales in their mailed-out ads.
Yeah I think what @MemphisNigga mentioned is accurate. Probably will have to tap into your savings.
Personally and this is my opinion but look at it as an investment similar to you going to graduate school. You building equity and you can always sell when you want to get something bigger or whatever.
Yup and it’s happening down in Charleston, SC (I mean the prices down there have been high as fuck for a while now).
I met a lady that moved down there from Cali when I was looking for furniture in High Point NC. She basically saw the house online and bought it without even visiting the home in cash.
All those cities are trash . Austin would be the best out that list but fuck Texas
I’ll disagree regarding Bmore. In the county and certain parts of the city, there are some nice areas. Remember CMS and the Social Security Administration are both headquartered in Bmore county. High paying federal jobs and most of those folks live in Bmore county.
It might be time to break out your software.
You could track migration patterns, unemployment, insurance rates, property taxes, housing supply (not just single family homes but apartments and multi family homes as well), days on market, list price vs sale price, area median incomes, etc. in your area.
I know that trying to time the market is frowned upon, but if all the numbers show that you'll have to wait years for things to get better, at least you'll feel better about using the $40k.
Luckily, my wife’s stocks and our 401k is still building and I’m still saving from working. I just want to keep at least a year’s worth of mortgage payments in my bank account for emergencies. I think I’m ok with dipping in the savings, but I’ll negotiate as much as I can.
It’s aiight it’s a weird place to me. Like a mix of the south and north but those accents are horrendous . I do like that it’s on the coast and not too far from Jersey/NY
LOL
Man I have no idea, but she she was in that joint spending stupid money...
@4 Dimensional will agree that High point is the Furniture Capital of the World...
She was at this spot called Furniture Land and prices in that joint is not cheap...Most stuff is hand made...
1000% agree....Yup close to the NE and SE.....Get to Richmond VA in about 3 hours and Raleigh, NC in about 5......Close to beaches as well....
If you are ever there, drive out to Owings Mills and like Randlestown area.....You will see what I mean it's some decent spots around the area...
Downtown Bmore - Federal Hill and Fells Points (that's where the CACS live lol)
Fells Point Baltimore Real Estate - Fells Point Baltimore Homes For Sale | Zillow
Zillow has 25 homes for sale in Fells Point Baltimore. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place.
www.zillow.com
B.C. landlord must pay renter over $25,000 for illegal rent hikes, notice to end tenancy
The landlords claimed they needed the space for personal use - but the RTB did not believe them.
www.vancouverisawesome.com
1000% agree....Yup close to the NE and SE.....Get to Richmond VA in about 3 hours and Raleigh, NC in about 5......Close to beaches as well....
If you are ever there, drive out to Owings Mills and like Randlestown area.....You will see what I mean it's some decent spots around the area...
Downtown Bmore - Federal Hill and Fells Points (that's where the CACS live lol)
Fells Point Baltimore Real Estate - Fells Point Baltimore Homes For Sale | Zillow
Zillow has 25 homes for sale in Fells Point Baltimore. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place.
I like the DMV for the fact it’s like a northern Atlanta with Black wealth. It also has some bad pockets of poverty that remind me of Camden which is a place I had to get away from
Justin Bieber Quietly Spent $16 Million on a California Desert Retreat
Justin Bieber paid $16.6 million for a contemporary mansion inside the Madison Club gated community in California's Coachella Valley.
robbreport.com
Kelly Slater’s Hawaiian Hideaway Hits the Market for $20 Million
After seven years of ownership, the legendary surfer has decided to wave goodbye to his beachfront home on Oahu's north shore.
robbreport.com
Jeff Bezos Just Dropped $90 Million on a Third Indian Creek Island Property
The Amazon founder has reportedly added a third Florida home to his growing property portfolio, a six-bedroom waterfront estate with a pool and dock.
robbreport.com
Former Talk Show Host Jenny Jones Sells $8 Million Beverly Hills Mansion
Jenny Jones, a nationally syndicated talk show host in the 1990s, sold her Mulholland Estates home for $8 million.
robbreport.com
Pamela Churchill Harriman’s Onetime Georgetown Home Hits the Market for $10 Million
Before her death in 1997, the U.S. Ambassador to France entertained powerful politicians, journalists and financiers at the Victorian home.
robbreport.com
I 100% agree and if Marion Barry didn’t get set up with those crack charges, DC would have been the first black city with the most millionaires.
He was one of the last few politicians that actually implemented policies that directly help black folks. His summer employment youth program is still in effect today.
America’s Mayors Should Take Marion Barry as a Model. Seriously.
The former D.C. mayor’s pioneering efforts to provide jobs, affordable housing, and food security deserve to be remembered long after the jokes about his drug use have grown stale.
www.thenation.com
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