NFR How's the housing market where you live?

[Dustin Chromers]

How many of us that own a home could afford to buy it at the current price? I certainly could not...

So when I do sell it, after taxes/fees and capital gains what could I buy? About half the house I live in now in a less desirable location. So why sell?

I'm lready in an "undesirable" locale. It's a shit hole paradise though if you look through the right lens and I do. It's the kind of place folks from Seattle scoff at when mentioned and beneath them. In that light I could do it again. I would actually like to own more property at this point. It has to be a deal or require some crazy scheme though. I've seen opportunities. I just haven't mustered the balls yet though especially in light of where I see things going.

I think the market is going to go down. I'm waiting. I think by next spring or even winter there's going to be far more homes and property on the market along with other things at far more agreeable prices. I mean you may be able to buy a home with a couple truckloads of gasoline. It will be like the petro but less portable.

 

[swimmy]

There is a home that just listed in Ennis for $145k.

Sure it needs a little love but I can think of worse places to live.

 

[Dustin Chromers]

There is a home that just listed in Ennis for $145k.

Sure it needs a little love but I can think of worse places to live.

That's cheap even by my shit hole paradise standards.

 

[Mossback]

One mans shithole is another mans paradise.
Theres about zero inventory out here, raw land is available, most listings are sky high. What homes are listed go pretty fast.
Theres high end waterfront, and single wides.
Not much in between.
10 years ago there was lots of stuff for sale, land, houses, all price ranges....all sorts of stuff.
Now stuff that doesnt stand a chance in hell of passing an inspection is 300k.
Lol

 

[cody-]

Silly me - why didn't I just consider bringing my work home? Bless you for the suggestion.

 

[Porter2]

Hopefully people start rethinking making fun of people for 'Living with their parents still..' it's getting to be one of the only smart options. My family had to move in with my parents, and I'm mid thirties in age, we got plenty of space though with an inlaw apartment on the lower level, so we are quite lucky considering... At least we invested in a business, and are pretty much debt free outright owners, so we own something! I've only been doing $300k ish in sales a year average though and with profit margin were only making about 60k a year, for a family of 4, with 10k a year towards a private school, cause no f-in way they are going to public there's not much left for saving. At this pace we will have our down payment in 20 years and then we can start saving for retirement . Could be worse, and I'm afraidhttps://www.ebay.com/itm/225019970244?hash=item34643c42c4:g:Jt0AAOSwBGRinj-F we might just see it.

Can I add, and maybe things have changed, and I’m sure it’s different for elementary age students, but a lot of the F-ups in Jr. High and High School back in the 80’s that were expelled could only find homes in private schools. No other public school would take them unless maybe they went out of district which a few did.
Blanchet received a copious amount of them.

 

[JS]

You been to Missoula recently? It's what Portland was right before things got REALLY weird. No bueno.

Unfortunately, yes! It’s bizarre, and I don’t recognize it anymore. We stopped two summers ago on our way back from the park and it was nutty. Also, just got done looking at a 1200sq foot 3br/1ba for 499 lol. Fucking crazy

 

[Dustin Chromers]

Silly me - why didn't I just consider bringing my work home? Bless you for the suggestion.

I'm here to help. Speaking of help. You may want to consider house boating. You can live bayou cool in the most upscale neighbourhoods in Seattle and if you don't like your neighbors you can simply sail away. Folks in my shit hole paradise area are living tax free and like kings of their own water world. One even has a crystal chandelier and piano in it that would make any gambling casino paddle wheeler jealous. The only way in legally to this floating refuge of personal opulence is by jet sled and you're always first to the best fishing.

 

[swimmy]

I'm here to help. Speaking of help. You may want to consider house boating. You can live bayou cool in the most upscale neighbourhoods in Seattle and if you don't like your neighbors you can simply sail away. Folks in my shit hole paradise area are living tax free and like kings of their own water world. One even has a crystal chandelier and piano in it that would make any gambling casino paddle wheeler jealous. The only way in legally to this floating refuge of personal opulence is by jet sled and you're always first to the best fishing.

In college I lived in a shack in the woods south of Mt Vernon. I put a lot of work into that place but it was rustic. Didn’t have plumbing but I had access to a couple trout ponds. I loved it.

One of my friends saw what I was up to and built his own little shack on a barge type thing. He used his little Boston whaler to haul it somewhere on the lower Skagit. His shack was also bad ass.

Those were good times.

 

[Matt B]

In college I lived in a shack in the woods south of Mt Vernon. I put a lot of work into that place but it was rustic. Didn’t have plumbing but I had access to a couple trout ponds. I loved it.

One of my friends saw what I was up to and built his own little shack on a barge type thing. He used his little Boston whaler to haul it somewhere on the lower Skagit. His shack was also bad ass.

Those were good times.

Need pics of shack. Please.

 

[swimmy]

Need pics of shack. Please.

Actually I might have a few lying around somewhere. I’ll see if I can dig em up.

 

[Dustin Chromers]

Need pics of shack. Please.

I feel like if shack life was glorified as much as van life it might lead to a second wave of micro homesteading.

 

[cody-]

help

There has now been 30 pages and 4 months of what people are calling "help" and "advice" for folks hoping to purchase a home for the first time. None of it has fallen close to either, and it all falls into one of two categories. The first category is basically to have money to buy property for the first time, you should have previously had bought a property before the first one. Examples include:
- "House prices are up everywhere but buy a house somewhere where that isn't true."
- "Just buy a condo or townhouse, despite the fact that they're also skyrocketing in price and inventory is way lower because nimbys in mid-sized cities and small towns nationwide have effectively criminalized middle density and mixed use zoning."
- "Get something that's already quadrupled in price in the past ten years that needs some work and then renovate it. I'm certain that bathroom reno I did fifteen years ago is the reason the property value is up four-fold in ten years. It's all my valuable renovations and design taste."

Next is the bootstrapping:
- "I only took vacations within the USA."
- "I worked a normal amount of hours each week but feel that I'm pretty special for it."
- "Damn mellinnials. They're all so lazy"
- "I worked really hard to have my real estate agent front me half of the down payment for my first house that I sold at a profit because I'm Bob Villa. " (doubles with the first category)

These also known as the walking up hill, both ways, in the snow category. Typically accompanied by commentary on how every minor inconvenience to them was incredibly thoughtless and noble, and anything that someone else does is insufficient and half-assed. Actual circumstances don't matter. If you bought a house 30 years ago then sacrifices were made, and if the haven't in 2022 then no sacrifices were made.

The solution is, and has been, zoning. If people didn't want middle density apartments and condos to be built then developers wouldn't be trying to build them. @Dr. Magill, I agree with your comment about zoning being the only solution. My "yes, and" was more about (the what I saw as) pro-SFH and anti-MFH portions that followed. Everyone else: you aren't as helpful or informative or insightful as you're pretending to be.

 

[JACKspASS]

There is a home that just listed in Ennis for $145k.

Sure it needs a little love but I can think of worse places to live.

 

[Porter2]

Just a little TLC at the most huh?

 

[Anonymous member 148]

"help" and "advice" for folks hoping to purchase a home for the first time. None of it has fallen close to either, and it all falls into one of two categories. The first category is basically to have money to buy property for the first time, you should have previously had bought a property before the first one. Examples include:
- "House prices are up everywhere but buy a house somewhere where that isn't true."
- "Just buy a condo or townhouse, despite the fact that they're also skyrocketing in price and inventory is way lower because nimbys in mid-sized cities and small towns nationwide have effectively criminalized middle density and mixed use zoning."
- "Get something that's already quadrupled in price in the past ten years that needs some work and then renovate it. I'm certain that bathroom reno I did fifteen years ago is the reason the property value is up four-fold in ten years. It's all my valuable renovations and design taste."

Next is the bootstrapping:
- "I only took vacations within the USA."
- "I worked a normal amount of hours each week but feel that I'm pretty special for it."
- "Damn mellinnials. They're all so lazy"
- "I worked really hard to have my real estate agent front me half of the down payment for my first house that I sold at a profit because I'm Bob Villa. " (doubles with the first category)

These also known as the walking up hill, both ways, in the snow category. Typically accompanied by commentary on how every minor inconvenience to them was incredibly thoughtless and noble, and anything that someone else does is insufficient and half-assed. Actual circumstances don't matter. If you bought a house 30 years ago then sacrifices were made, and if the haven't in 2022 then no sacrifices were made.

The solution is, and has been, zoning. If people didn't want middle density apartments and condos to be built then developers wouldn't be trying to build them. @Dr. Magill, I agree with your comment about zoning being the only solution. My "yes, and" was more about (the what I saw as) pro-SFH and anti-MFH portions that followed. Everyone else: you aren't as helpful or informative or insightful as you're pretending to be.

 

[cody-]

View attachment 17343

And vice versa, buddy. The free market wants middle density. Why should zoning boards get to block it?

 

[Coach Potter]

For much of the country, this wasn’t a problem until all the funny money was printed. That money is being sucked out of the system as we speak. The FED didn’t even start quantitative tightening until last week. It took a few years to create the problem and the solution will likely take the same amount of time.

Unfortunately the solution is preceded by pain. A good old fashioned recession will depress prices…you might also lose your job in the process but we’ll have another recession and prices will come down, they always do. Be patient and save while you wait. You will want to have your shit in order when it‘s time.

In 2006 I had clients taking distributions from their retirement accounts in order to give their kids down payments for houses because “at this rate“ they would never be able to afford a house. We all know what happened 2 years later….you will get your shot.

 

[Coach Potter]

Has anybody seen a chart (I can’t post it) that shows home prices/median income ratio since 1950? Maybe somebody can find it on the google machine and post it up. We are in uncharted waters and it’s pretty telling of what has happened every other time we have come close to where we are now.

 

[RCF]

There has now been 30 pages and 4 months of what people are calling "help" and "advice" for folks hoping to purchase a home for the first time. None of it has fallen close to either, and it all falls into one of two categories. The first category is basically to have money to buy property for the first time, you should have previously had bought a property before the first one. Examples include:
- "House prices are up everywhere but buy a house somewhere where that isn't true."
- "Just buy a condo or townhouse, despite the fact that they're also skyrocketing in price and inventory is way lower because nimbys in mid-sized cities and small towns nationwide have effectively criminalized middle density and mixed use zoning."
- "Get something that's already quadrupled in price in the past ten years that needs some work and then renovate it. I'm certain that bathroom reno I did fifteen years ago is the reason the property value is up four-fold in ten years. It's all my valuable renovations and design taste."

Next is the bootstrapping:
- "I only took vacations within the USA."
- "I worked a normal amount of hours each week but feel that I'm pretty special for it."
- "Damn mellinnials. They're all so lazy"
- "I worked really hard to have my real estate agent front me half of the down payment for my first house that I sold at a profit because I'm Bob Villa. " (doubles with the first category)

These also known as the walking up hill, both ways, in the snow category. Typically accompanied by commentary on how every minor inconvenience to them was incredibly thoughtless and noble, and anything that someone else does is insufficient and half-assed. Actual circumstances don't matter. If you bought a house 30 years ago then sacrifices were made, and if the haven't in 2022 then no sacrifices were made.

The solution is, and has been, zoning. If people didn't want middle density apartments and condos to be built then developers wouldn't be trying to build them. @Dr. Magill, I agree with your comment about zoning being the only solution. My "yes, and" was more about (the what I saw as) pro-SFH and anti-MFH portions that followed. Everyone else: you aren't as helpful or informative or insightful as you're pretending to be.

Ahhh grasshopper

You have a lot to learn...