Posted on 02/22/2025 8:59:05 PM PST by SeekAndFind
I would love to buy a home, but I just can’t afford it. My husband lost his job and I don’t make enough on my own.
That and I don’t want to stay in Illinois. It’ll be a while before I have a place of my own.
The whole problem is very simple. Government has driven the price of a home out of reach. Democrats did this.
So their donors could get rich.
Guess what, the party is over.
Y’all want the people to live in Soviet style housing,
to save the environment.
Guess what, that tactic will fail just as it did
in Russia.
The average credit card debt keeps increasing. When the average homeowner is up to his neck in debt, he will have to sell his own
Similar to 2008, the housing market will crash as people MUST sell to survive. Right now, the prices are so high there are no buyers.
There’s always a buyer at the right price.
I sent you freepmail.
Sure, if you're trying to buy it in Pacific Heights or the Upper East Side of Manhattan. Rural homes are cheaper. Not impossible. Some not even difficult. Renting, and never building equity -- that's difficult!
“Rural homes are cheaper. Not impossible.”
I live in extremely rural Hawaii. Closest Costco is over an hours drive away. I’m not selling but
you would have some difficulty paying market value
for my two homes, shop, and acreage with ocean views.
Maybe in Hawaii “rural” and “ocean view” aren’t mutually exclusive, but I don’t go there. :)
“Maybe in Hawaii “rural” and “ocean view” aren’t mutually exclusive, but I don’t go there. :)”
well if you ever do visit, stay on the Big island.
Avoid Honolulu at all costs!
Squatter bait. Good luck!
100 percent correct. The average age of homebuyers today is 59 years. First time buyers average is 39.
You own a home in IL, the state and local property taxes will make you poor.
“100 percent correct. The average age of home buyers today is 59 years. First time buyers average is 39.”
When I moved to Hawaii I paid cash for my house and land
My age was 44. That was my rule when I moved to one of the most expensive places to live in the USA,
No mortgages.
I bought my first house at age 24.
VA backed loan in WA state.
profit from that house paid for my Hawaii house.
I complained the whole time I was in the military.
housing, food, crap duty stations.
But as an old man that was the best job I ever had,
long term in hindsight.
I suppose military got better because us old farts support
the young guys now serving, or Congress faces our wrath.
Supply will probably increase due to illegals being deported.
Not only the right price but the right interest rate. With Trump in office, I believe many are waiting for rates to drop.
As they say. The best cure for high prices is high prices. Demand will fall, prices will fall. I don’t believe Trump can lower rates quickly and fight inflation. If you remember the Reagan /Volcker years, it took at least 5 years of high interest rates to tame the Jimmy Carter inflation beast.
The real estate market is totally our of whack after 10 years of “monetary stimulus” and it’s going to take a while for it to re-balance.
Jimmy Carter’s devastating interest rates were between 16% and 20%, big difference between then and now. We are currently between 6.5% and 7%. When the rates drop to 5% and under, which they will, the market will adjust quickly.
I wonder if this will be a green light for squatters to move in?
I wonder if this will be a green light for squatters to move in?
*********************************
They already are.
The squatter movement/trend is just beginning, and will grow much larger as we advance through the decade.
The best way to protect your property is to have people living & working on it.
Empty real estate has neither.
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