Wow the lack of affordable rent and lack of the same in housing for sale absolutely positively sucks ! Anyone else experiencing this same problem!!!? That and wanting to bury the landlord in the backyard! LMAO! Anyone finding solutions to same problem !? Anyone have ideas that have worked for finding housing!? Unfortunately the days of just putting up a cabin in the woods are gone lol And living in my cars and going to Walmut to get cleaned doesnt work for me! Thinking about building a cubicle in the warehouse at work in the pallet racks! Maybe a shipping container in the parking lot? Wouldn't have far to walk to work! Thanks for letting me vent!!!
Its really tough right now. I've been in the market a little recently. Inventory is low, interest rates are up. In spite of the rates being up, the prices havent really come down, and things are still on the market a few days tops where I am. I feel for anyone that has to make a move. I'm fortunate my housing situation is solid and I don't HAVE to move.
We will be selling our Victorian in about a year. The trick is you need to find the house you want to buy first, before you sell your home. Otherwise when your house sells you have no where to go. Duane
Prices will stay at a certain level as No or little supply! Only way they will come down if we experience something similar to a depression! What bank is going to be in business or will to lone you money if something like this would happen!? And who wants to put their house up for sale if they locked in at 3 % interest or refinanced at the same!!
No house to sell ,rent currently! Unfortunately! Have thought about building something but that’s extremely difficult to right now! The AMERICAN DREAM IS DEAD! Lol
I believe banks don’t want people to buy houses anymore, they want to own rental property and turn everyone into renters. Almost all the houses that went up for sale in my area in Missouri was sold to a Company not to an individual last year, I had mine up for sale and sure enough the first offer was an Investment company. Unfortunately the rates went skyrocket the same time so I took mine off the market and am waiting till it’s a sellers market again once buyers realize the days of interest rates below 6% is never going to happen again In our lifetime.
The problem with this in my area (Pacific North West) is that NO ONE allows a contingency in a sale anymore (ie you used to be able to write in your Purchase agreement that it was contingent on the sale of your old home). So this means unless you have enough cash to own two homes, you basically NEED to sell your home first. Tough times for sure. Rents here are insane. I feel so lucky to have purchased a home when I did (2001), because now it would not be possible.
It's a national problem. Many articles I've read talk about a severe shortage of housing, of all the homeless people, all those that can't afford the current prices. So what does our country do? Open the border and let millions more in that are going to compete for that finite resource. Make no sense to me.
You said it Duane . We have had our " GO TO " house for 20 years and finally getting out of this one by Sept . Only problem with that is you have to pay taxes on 2 school districts and 2 Boroughs or towns while you do it .
I sell a lot of airstreams to people who are relocating ..stuff there parents in em or just drop em on there property and rent em out as airbnb's.Some of them are nicer than my own home.
I know the problems, houses in our area last between 2 to 5 days before they are gone. We are part of the best school district in the area. We will be good with buying another home before selling ours off, no contingencies. Duane
I sold my second house last summer. Got over 25k of my asking price cash sale within a week and a half of listing it. While turning down an offer of over 32K of asking price, but that offer would have to finance. Wasn’t a guarantee’d offer because of the finance. among numerous other offers within that time frame! The cash sale offer is what my realtor suggested. I totally agreed but only after a counter. Being that cash sale, everything went sooo smooth, and was totally done within a couple days. It’s still a sales market, but not as well as when I sold… When I purchased my current dream home with a 30X55 dream shop, along with a 30X60 storage pole building (concrete floor), 5 beautiful acres in 2011on a “short sale” when the housing market was in the tank
I totally agree with Guy. There is such demand for real estate here in SW Florida that a friend who is a real estate agent is having a lousy two years (2022 and 2023) because she has nothing to sell and the aspiring purchasers are beating the doors down looking for housing. Home construction is going on everywhere around here because if you want a house that is remotely what you want, you are the luckiest person on Earth or you will probably have to build it. I feel badly for those who don't have a lot of money, but Will Rodgers said "Buy land - they aren't making any more of it."
That is so true John about what Will Rogers said! There’s hardly a time when land worth went down in price!
Technically, they are making more land. The big island of Hawaii is growing with each eruption though you can't build on it for quite a while. Also, the Chinese are building islands in the South China Sea, much as they did in Dubai. It's expensive land, though. My wife wants a little beach cottage in Florida but the prices are OUTRAGEOUS! I've got land, a big detached garage and the littl 1,100sqft places with no garage on a tiny log in Florida a 1/2 mile from the beach are more than my current property AND one of my Buicks.
Here’s some pics of my dream house bought on that short sale. I immediately had 50K in equity after the purchase. It was completely paid off last year after selling my other home. And left me with 80k cash. A couple pics of my current home and shop. Shop with 14’ ceiling, paint both, up stairs storage over the paint booth. I drywalled inside along with epoxy floor.
What I did… I kept my other house during the housing market crash, and rented it out until the housing market recovered, then sold it. And then some! Of where we’re at still to this day.
Lovely, Guy! I'm in a similar situation. Moved due to work, rented an apt while looking for a house. This was '06, just when things were sinking. Got a great deal on a house close to work and moved in. Trying to sell the previous home, even at a loss, was futile. Took the leap and began renting it about year later, it's been great. Both properties are now valued at over 200% what we paid, and they're both paid for. I'm considering the sale of the rental, but not in a big hurry due to having some fabulous long-term tenants. Again, nice job on the dream home! Devon
