Prices?

[Overwatch]

And now there is a push to use one space instead of two between a period and a new sentence. The world is going f!#*ing crazy man!!

No, That's just wrong...and hurts my head. When will the computer overlords take over, I'm ready any day?

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[Deleted member 59498]

I was thinking the Lizard Overlords would show themselves any day now. Everyone is ready for it.

 

[Heimkehr]

 

[BullMoose1776]

Now imagine being young and trying to start a family. It's bullshit.

It cost me $23,000 for a 4yr business degree in 98 and I got a job making $30,000. Bought a 2 yr old Acura for $21,000. 2 yrs later built a very nice 3/2/2 for $130,000.

Same 4 yr degree now costs $80,000 (on the extremely low side) and you're lucky to find a job making $50,000. A 2yr old Acura is $50,000 and that same house is $250,000.

It's easy to see why the younger generation HATES boomers and resents Gen X.

Don't tell me they should all be plumbers. Some should! But, America needs a well rounded workforce. The deck is stacked against the little guy.

 

[RagTopDeluxe]

And now there is a push to use one space instead of two between a period and a new sentence. The world is going f!#*ing crazy man!!

I have a book that is a typographical style guide from the 90s that specifies a single space, as God intended. So get with it!

 

[zrickety]

So, I’m at the stealership yesterday fr an oil change/tire rotation and I’m wondering around a very thinly stocked lot. Well, there’s a Compass— $37,900?. Oh and over here is a Wagoneer for a paltry $110k??. The world has lost it’s collective mind. I bought a darn nice house for less than the Compass costs, and I built a beautiful one for less than the Wagoneer. I feel like we’re playing with Monopoly money (and we kind of are since it now has zero intrinsic worth). Never ever thought I’d see this stuff ?

I like your style.
IBTL

 

[CT_LFC]

We have been in the market to upsize our home but every month it just gets worse and worse with house prices going up a ridiculous level and that not even being enough as then they are bid well over asking price. Now prices are high and rates are way up so double whammy.

Yes, our current home has appreciated, but so has every other one to an even greater extent so it makes it difficult. Being a first time home buyer must be demoralizing unless you come from money.

At some point something has to give. With rates now approaching 5% demand has to cool down at some point, but what will happen to supply? will people sell? why would they? tons refinanced into lower rates (we did into a 20yr loan @ 2.6%) so why sell to go buy at high prices, higher rates with few options? If the market starts whispering words of a bubble, will that trigger FOMO and make people sell to cash in before a market decline?

With prices so damn high i wonder if banks were giving out loans at a high debt to income ratio where now those people are in a financial bind due to inflation, which could increase supply but not in the near term.

What a mess.

 

[Spank]

We’d like to downsize, but we’d wind up paying a fortune for less home. Crazy times. Son is trying to buy a house and people are actively bidding thousands (and tens of thousands) of dollars MORE than the asking price?.

We have been in the market to upsize our home but every month it just gets worse and worse with house prices going up a ridiculous level and that not even being enough as then they are bid well over asking price. Now prices are high and rates are way up so double whammy.

A lot of these massive bids are from investment firms looking to turn as many single family homes into rentals as possible. You'll own nothing and like it.

 

[FiveBoro]

What's blown me away recently is the price of older sports cars. I'm 42 and have been nostalgia shopping for a mid 90s to mid 2000s sports car. Here's some of what I've found:

2004 Mustang Cobra Conv (5k miles) - $49,999
1995 Viper (34k miles) - $48,000
2002 Trans Am WS6 (18k miles) - $44,900
2008 Honda S2000CR (91k miles) - $45,999
2006 S2000 (56k miles) - $29,000
2006 Z06 (36k miles) - $42,999

I know some of these may be considered collector cars, but damn.

Tell me about it, I went deep the other day looking for a nostalgia car and discovered I can't even afford a Ford Probe!

 

[smokeythecat]

(I’m sure this will be me in 20 years)

Ha! These days it's young people yelling at contrails.

 

[Uncommon Sense]

We have been in the market to upsize our home but every month it just gets worse and worse with house prices going up a ridiculous level and that not even being enough as then they are bid well over asking price. Now prices are high and rates are way up so double whammy.

Yes, our current home has appreciated, but so has every other one to an even greater extent so it makes it difficult. Being a first time home buyer must be demoralizing unless you come from money.

At some point something has to give. With rates now approaching 5% demand has to cool down at some point, but what will happen to supply? will people sell? why would they? tons refinanced into lower rates (we did into a 20yr loan @ 2.6%) so why sell to go buy at high prices, higher rates with few options? If the market starts whispering words of a bubble, will that trigger FOMO and make people sell to cash in before a market decline?

With prices so damn high i wonder if banks were giving out loans at a high debt to income ratio where now those people are in a financial bind due to inflation, which could increase supply but not in the near term.

What a mess.

I work in mortgages. There is going to be some pull back. People will adjust their budgets with rates being much higher (along with property taxes).

I'd love to upgrade our house but everything is substantially more expensive but only moderately better than our current home. House will be paid off in less than 10 years. We can't justify the cost of the newer homes in our area relative to what we pay now. Rather just keep saving and retire earlier at this point.

 

[Wbino]

Well… if you don’t agree, that doesn’t take away from the truth… If it costs more to run a business, the cost will NEVER come out of the corporations pocket… it’s going to come out of yours… So yes, the burger flipper is contributing and his $$$ is still worth the $8 per hour equivalent. See how that works?

Most burger joints are franchises.
The local MD'S has recently changed owners, the new owner has fifteen Md's.
These are the same Md's where you have to ask for napkins. ?

 

[Wbino]

We have been in the market to upsize our home but every month it just gets worse and worse with house prices going up a ridiculous level and that not even being enough as then they are bid well over asking price. Now prices are high and rates are way up so double whammy.

Yes, our current home has appreciated, but so has every other one to an even greater extent so it makes it difficult. Being a first time home buyer must be demoralizing unless you come from money.

At some point something has to give. With rates now approaching 5% demand has to cool down at some point, but what will happen to supply? will people sell? why would they? tons refinanced into lower rates (we did into a 20yr loan @ 2.6%) so why sell to go buy at high prices, higher rates with few options? If the market starts whispering words of a bubble, will that trigger FOMO and make people sell to cash in before a market decline?

With prices so damn high i wonder if banks were giving out loans at a high debt to income ratio where now those people are in a financial bind due to inflation, which could increase supply but not in the near term.

What a mess.

What are you asking for ? Your house to decrease in value?
The suburbs were/are created to find a place in the price range you can afford.
When I was in my twenties I remember trying to save a thousand dollars only to see prices for home out of my reach.
Somehow with lots of time, and work was I able to scratch out enough to put a meager pittance down on my first home.

 

[Windshieldfarmer]

Better Buckle your seatbelt. With mortgage rates dramatically increasing and the Fed downsizing its balance sheet beginning next month you are going to see RE values decline beginning this summer…in many areas. The 2022 bust is about to start. The Fed waited too long to move and now they will over react. Time to sell…not buy.

 

[smokeythecat]

I have a book that is a typographical style guide from the 90s that specifies a single space, as God intended. So get with it!

Yeah, but the real debate is the Harvard comma. Yes or no?

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