Posted on 04/09/2023 12:18:26 PM PDT by millenial4freedom
Twenty-somethings who have been frozen out of buying a home are eagerly anticipating a potential housing crash in 2023 in the hopes that they’ll finally be able to afford a place of their own. A number of economists have noted that the combination of high inflation, rising interest rates to fight that inflation, the continued effects of Russia’s invasion of Ukraine and continuing pandemic-related supply chain bottlenecks are likely to bring about a recession sometime next year. If that happens, it could be enough to finally burst the decade-long housing bubble that sent home prices to record levels. And that’s exactly what Gen Zers are rooting for.
(Excerpt) Read more at finance.yahoo.com ...
The FBA declaring 40 year mortgages robe conforming this week was a bail out for the housing market. Don’t hold your breath on priced decreasing anytime soon
Banana republic we are
I paid $1200 to have a backflow device put in, something Florida law does not allow me to do myself.
It took the plumber slightly over two hours.
My neighbor the roofer can expect to become a multi-millionaire within a few years.
Haha that is way too much sacrifice for millenials. One of my kids has already vacationed in all continents, next week she is off to Hawaii. Still rents an apartment with her long time boy friend/fiance for $3000/month. The other kid bought a home 3 years ago for $750k when mortgage rates were at 2.75%. she and her husband are now house poor.
Nope! Land speculators HIRE construction companies to irreversibly convert irreplaceable countryside into permanent poverty factories. There are probably a few here who will be along shortly to spout some idiot Randian theory about how creating a permanent underclass for short-term profit is actually a conservative policy based on sound economic principles.
So. I’m guessing that these are the same ones who demand all their student loan forgiveness.
This country has become a nation where many of its younger denizens EXPECT the rest of us to support them. And, if that means chaos and devolution then they don’t care. It’s all about them.
My advice is to be kinder to your parents; maybe they’ll take you in. Or at the very least find some other losers to bunch up on an apartment lease (IF you actually have a job, that is). If that’s not a workable option move to SF and get a tent. You can sh!t in the street like the rest of them out there.
Muslims don’t believe in interest.
One might buy 20% of a house and rent 80%, then buy 4% per year (say at 106% of the latest property tax assessment) for 20 years.
In the first year, the buyers would pay 80% of the normal rent and the owner of 80% 80% of the repair costs.
In the second year, the buyers would pay 76% of the normal rent and the owner of 76% 76% of the repair costs.
Under this system, there is never a bad time to buy a house and interest rates never matter.
Says the generation that bought houses for cheap, went to college for cheap, received health care for cheap, and gets to retire comfortably.
Gen-Z, for all their faults, received a giant sh*t sandwich from the older generations who enjoyed low costs and job security. Little wonder they now occupy themselves with debauchery and idle pursuits.
And parents be kind to your kids, because one day you may need them to take you in.
And it’s much better than have grandparents to take care of the kids than pawning them off on some daycare where they don’t give a crap about your kids.
In 1990, the Virginia building code for my Reston townhouse was the size of a typical book.
In 2023, the Florida Building Code is a multi-volume set that would rise to about the height of my countertops.
So true. Lol. Wait till they have to pay for a 24,000 roof. They wish the housing market didn’t crash.
I remember paying on a 12% mortgage.
Many young people pay less than 3%.
The house to the east of me sold for less than $200,000 less than eight years ago.
Not really. We bought new home 4 years ago. Came complete with landscaping, automatic sprinklers, window blinds, ceiling fans in every room, crown moldings, garage door opener in finished garage, stainless steel fridge, microwave, dish washer, washer & dryer, screened Lanai, white quartz counters and heat pump A/C. Every other house before this we had to buy and install all that ourselves. Except for mowing the lawn, there has been no other maintenance or repairs.
My gosh. In leesburg (lake county), you can get a Backflow (PVB) put in for 175 total!!!!
The plumbing company didn’t want to do the job on a time and materials basis.
Their hourly rate is $187/hour.
The plumbing company that put in the original plumbing now charges $255/hour allegedly. I paid them $60/hour about 20 years ago.
Indeed.
Is this Florida? If so, the expenses begin in year 15!!!!!!! Beware!
The basic backflow device itself Wilkins-Zurn 950XL2? 3/4th of an inch runs about $200.
I believe double-check “no lead” devices for potable water use are required for the main hookup to prevent house supply line water -> water utility line backflow..
Cheaper devices are to prevent irrigation->house potable water backflow.
There’s a guy named Dave Ramsey who makes a living preaching this on a radio show every weeknight. And 70-80% of what he says is the simplest advice in the world. Some of the rest is a bit more sophisticated, and a small amount of it I disagree with, on a tactical, rather than a strategic, level, but none of it is rocket science.
Except every night he gets calls from people who can’t do it.
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