Bought my first house in 1978. It, also, was 900 sq ft. It was a 30 ft x 30 ft box with THREE bedrooms, a living room, a dining area, a kitchen, and a single car garage. Take away that garage and you had about 680 sq ft of living space. Paid $100,000 for it back then. Sold it five years later for a 50% profit and thought I did ok. Should have held on to it but needed to cash out to move to the next place.
“Worth it” is entirely subjective. That’s the beauty of free markets. “Worth it” means what somebody will pay, nothing more, nothing less.
“House is 900 SQ. Not worth it. Taxes are 6K”
That was true in the past. Still true for families trying to buy a home.
But that’s not who is buying up the supply of America’s single family homes.
You’re seeing the impact of institutional investors. Wall Street. Wealthy foreign investors. Hedge funds fronting for China’s sovereign wealth fund.
We’ve seen this in California for years. Average Americans won’t have a prayer of being anything but renters.
“Hartford”
Lol—one big ghetto.
The reality is that the metro area is 90% outside of the city.
They must be using a rolling average over 6 or 12 months. Zillo and Reventure have houses down 3%-10% since Jan 2022 in the top 100 markets.
https://www.beta.reventure.app/dashboard
30% of sales had a 10k price cut last month in my state.
I dont know how anyone signs up for a new mortgage that is going to cost them 3 times what the old one did. I got 16 more years at 3%.... Ill move out to the trailer on the driveway and the wife and her boyfriend can stay in the master bedroom when financed at 3% vs 7% and the property tax adjustment.
They have started going up in my neighborhood. The worth of my house has gone over the million-dollar mark again.
Atlanta is still a hot market. Very low inventory.
If I may ask, what might the approximate Insurance be a year as well for such a place?
Commies at The Hill think this is great news for Biden, I’m sure.
It’s not so much that houses are worth more as that the dollar is worth less.
I have lived in my current home for 31 years and completely paid for for the past 25 years, I’ve never thought of it as an investment, just home and I have no plans to move. I’m 78 and hope to die in my own bed and my own home on earth.
This home belongs to me and the tax assessor, nobody else. After I’m gone, it will belong to my daughter and the tax assessor and what she does with it will be her bidness.