/biz/ - Business & Finance

>in Austin, Texas
Lol! Lmao even!

>>49934916
If you can live in it and can afford the payment then what's the problem?

>Austin, Texas
lol

>>49934916
Where the fuck did you buy in Austin? I had to buy in one of the outer areas because Austin proper is too expensive

>>49934916
I really hope you didn't sign the dotted line. If you did, then I'll pray for you.

>>49934960
Asking prices are coming down already… you can see that it is a bit of a bubble at least for the next year until interest rates come down at least, but how long will that be…a few years or never coming down this low again

>>49934969
I haven’t signed yet the final docs.
Have 5 days. What do?

>>49934960

>>49934996
what's the price + the interest rate you have for your mortgage?

>>49934968
Far south, off Menchaca near the bars over there. It on the smaller side and in the 450s range. I almost went further too desu

>>49934916

housing market won't crash anon. Why are you worry? Not you got a cheap deal. Its still cheap. Buy more or get outpriced.

>>49934916
You bought the near top of a massive local bubble. That's all I know.

>>49934996
I'm just yanking your chain. You're probably fine. People on /biz/ are overly alarmist and reactive to even minor fluctuations in the market. As long as your job isn't in utter jeopardy and you can afford your new home, you shouldn't have much to worry about. And getting into the Austin housing market now is smart. The prices are going to go up in the next ten to twenty years. You're gonna make it.

>>49935018
$445k @ ~4.75-5%

>>49935027
Yeah that is further south but it's not so bad. I'm bought in Round Rock in December because Austin was too expensive for me. I had a 3% interest rate for 400K mortgage and it was pretty ok at the time but idk how much it is now

Do you plan to stay there for at least 5 years? If yes then you should be fine.

>>49935096
I mean that sucks but it is what it is anon you have to live somewhere. It's your home not a shitcoin or P&D stock.

I seen you post this on /pol/.

>>49934996


lol you don't want to get advice from this board. Like the anon above >>49935095 said, as long as your job isn't in jeopardy and you can comfortably make the payments, you're probably fine. This isn't like 2008 where tons of people had mortgages that they were not actually qualified for. Are we at the peak for Austin home prices? I'm not sure but in my neighborhood, there's been more and more people moving in and developers are still building. Can't predict the future but as long as you are financially ok with the purchase and mortgage you should be fine

>>49935279
>>49935202
>>49935187
Thank you for the advice frens

>>49934916
i just left Austin cause my rent went up 50% in 2 years for the same shitty 1 bedroom i was in.

My friend pays the same amount for a brand new apartment downtown denver lol

>>49935344
I'm always amazed at the mobility of americans, if I left my city I'd be out of a job yet I see a bunch of mericans moving from cali to florida and instantly finding a home and a job

>>49934916

>>49935344
That was my biggest fear of not buying in Austin… average rent is almost $2k now

>>49934916
congrats bro fuck poorfag rentards

>>49935308
Dont forget, REFINANCING IS A THING.

If your home suddenly loses 50-200k in value, you can refinance for both a lower total payment/mortgage AND for a lower rate. You're a land-owning elite now anon. The world bends for you.

>>49935581
Kek what? I mean maybe under certain circumstances, but I can't think of a reason why you wouldn't have already refinanced before it lost value?

>>49935656
You can refinance then too. But you tend to get the refinancing options when it loses value when a housing bubble bursts. Back in 08, my parents were able to refinance their 300k house because it lost like 100k of its value and they only ended up having to pay 200k instead of the 300k AND at a lower rate

>>49935779
That’s not how refinancing works retard.

>>49935921
>not being old enough to remember the 2008 financial crisis
>not realizing that 99% of banks allowed refinancing in they way I just described

>>49934916
>the second most inflated market

What's the first?

>>49934960
Imagine yourself 2 years from now when every single house around you is marked down 30% and you're still paying for the mortgage you signed today but it doesn't matter because "I can afford to make the payments and be frivolous with the money". Imagine for one second this is how markets work? Learn to basic behavioral economics, nigger.

>>49936076
yo momma's ass

about to find an apartment in austin. :)

>>49935921
I vaguely remember my parents doing something like that also. It got to the point where every house was for sale and my parents told the bank they could either work with them or foreclose another house. They worked with them

>>49936092
houses will be down 30% but interest rates will be up 3%+

>buys in Texas
>goes to a democrat shithole
NGMI faggot.

>>49935779
Are you trolling or this stupid?

>>49936864
The person you're replying to is a retard, but I do remember shit like this happening in 2008 where banks would just write down $100k rather than dealing with yet another foreclosure/eviction/auction/losing the $100k anyway.

>>49936076
Boise idaho