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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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55150376 No.55150376 [Reply] [Original]

Zestimate sisters... we got too zesty...

>> No.55150402

>>55150376
>Prices decreased by 3.4% in the 12 months to May compared with 12 months earlier
It's so over

>> No.55150403

>>55150376
UK mortgage approvals fell too.

>> No.55150413

zoomers are priced out, zoomers are going to buy my house

>> No.55150441
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55150441

>>55150376
Don't care, my deanobox is up 30% since I purchased it in 2020

>> No.55150458

Just bought a flat

>> No.55150605

>>55150441
Not bad. +40% since 2018 for me.

Bit silly really.

>> No.55150701

>>55150605
Not surprising when both parties are hell bent on flooding the country with migrants to prop up the housing market though

>> No.55151092

>>55150701
>flooding the country with migrants to prop up the housing market though
You think that's why? It's the Kalergi jew kike plan.

>> No.55151213

In australia house prices have gone up for the last 2 months

This shit is retarded.
>low interest rates make house prices go up because of larger borrowing capacity
>high interest rates are making prices go up because people don't want to sell limiting the number of of properties for sale and pushing prices back up

>> No.55151268

>>55150376
gonna slurp so hard in dec 2023

>> No.55151666

>>55150441
>>55150605
I bought for 649 in 2019 now my Zesty is 938, as high as 1.02M
Never selling, will eventually rent it out if I have to. Going to leave it to my kids and let them skip saving for a house

>> No.55151693
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55151693

My house is still at an all time high on Zillow, nice try

>> No.55151837
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55151837

>>55151666
>Never selling, will eventually rent it out if I have to
unrealized gains that you still get taxed on. sounds like a scam

>> No.55151877

>>55151693
They're probably manipulating the price in your area because they have some property to offload.

>> No.55151887
File: 35 KB, 1056x464, median home sales price.png [View same] [iqdb] [saucenao] [google]
55151887

Here's the real story. Two straight months of trend reversal now. I was actually hoping for something of a dump, but the inventory is simply not there. No one has built anything for like 15 years and now the housing market is utterly bulletproof.

>> No.55151891

>>55150376
Lmfao. $180k homes are still selling for 300k. Keep coping rentoids

>> No.55151923

>>55151877
Yes selling my house and moving to a cheaper area to rent.

>> No.55151949

>>55151887
Just wait until student loan repayments are turned back on

>> No.55151962

>>55151949

Won't even make a dent, if monthly payments surging by 40-50% in the span of a few months (thanks to rapid rate hikes) didn't. It's surreal.

>> No.55151969

>>55151949
Average student loan payments are $200 a month. Cope harder

>> No.55151975
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55151975

RETURN
TO
NORMAL

>> No.55151988

>>55151969
>$200 a month.
>Cope
you know the rationale for 40 yr mortgages is to reduce monthly mortgage payments by... two hundo.
so he's actually far more intelligent then he appears.

>> No.55152000

>>55151837
Yeah its super gay but what else can you do in this country the tax man always comes for you. Is the best thing to do sell it and just give the kids the capital?

>> No.55152004

>>55151988
Wow you sure a fucking idiot huh?
So they'll take the 40 year mortgage instead if the 30. So they can also pay off their student loans.
Almost like.... they factored that in.

>> No.55152007

>feels good to be a rentoid in Europe
>rent control in place for most existing apartments
>can change apartment at a months notice, lease agreement is strongly in renters favor

>> No.55152019

>>55152007

rent control is horrid, true sign of a totally warped housing market. Last gasp effort. Our most expensive cities have "rent control." They're basically telling you you will never have anything because they aren't addressing the supply issue.

>> No.55152034

>>55152004
is $200 alot of money to you?

>> No.55152043

>>55152034
It's 2023. $200 is pennies to anyone in the west. Cope harder rentlet. Houses are not coming down in price.

>> No.55152053
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55152053

What's the point of cheaper property values if the only time prices ever drop is when interest rates skyrocket too? Yeah I got 75k off the seller's delusional initial asking price, but any 'savings' are completely eroded by how much interest rates have increased

>> No.55152072

>>55152053

You can refi whenever rates drop again. The ideal scenario is: rates rise, prices crash, you buy cheapies, when rates drop again you refi and you have low payments on properties that have just surged in value.

But this isn't going to be like 2008 I don't think. Values are holding. I sold my two rentals in a bit of fear this past year for reference, I'm looking to buy back in if I can get a deal but they simply don't exist anymore.

>> No.55152094

>>55152072
That's true, but there's also no guarantees of lower rates any time soon.
When rates eventually do lower though, I'll definitely refinance. If low enough probably switch to a 15yr mortgage, at which point the payments would be about the same or marginally worse than now, but at least I can be debt free earlier and not have to worry about having a figurative gun to my head for the rest of my life.

>> No.55152120

>>55152094

Mortgages don't scare me whatsoever. They're deliberately state-backed baby shit in the US. Your debt gets eaten alive by inflation year by year. If ever comes a time where you really can't pay then you can just let it foreclose and move on with your life. They aren't going to throw you in debtor's prison... lol. Mortgages are a weapon not a prison.

>> No.55152121

>>55152043
so you understand $200 is nothing.
then you understand how fragile the housing market has become, given you increase the loan duration by 10 years in order to... increase cashflow by *pennies*.

>> No.55152158

>>55152120
based debtmaxxer

>> No.55152219

>>55152158

I mean look at the current market... such a severe paradigm shift SHOULD be tanking home values in a huge, huge way. And they aren't. They're already recovering in fact. This entire thing is a warped, artificial market and you have to learn to play the game. Mortgages are deliberately dumbed down to ensure every retard in this country can manage a home, for enterprising individuals that's an opportunity to get easy leverage.

>> No.55152301

>>55152219
>such a severe paradigm shift SHOULD be tanking home values in a huge, huge way. And they aren't.
they stopped hiking interest rates 3 months ago.
you still have a reported sub 4% unemployment.
we've been in a recession for 2 years now.
the entire cycle takes 4 years.
such a severe paradigm shift WILL be tanking home values in a huge, huge way. And you're 3 - 9 months early.

>> No.55152313

I build deano boxes how will I be affected?

>> No.55152385

>>55152313
build 3 beds 2 baths instead of the higher margin mcmansions and you'll have more business then you can manage.
>work harder for less money
yea, I know, but it's what people will be able to afford.

>> No.55152609

>>55152313
Guess you might need to go back home to Poland or Romania.

>> No.55152770

>buy house in 2020 for 350k with huge down payment
>lock in basically the low tick in rates for 30 years
>house valued at 500k last year
>now only valued at 480
>I owe 260k on mortgage still.

How will I ever recover from this catastrophic deterioration in my homes value?

>> No.55152882

>>55152770
You sound like someone who bought btc at 35k after it dropped from 60k to 53k.
Market cycles are a real bastard.

>> No.55153568

>>55151887
Look at the seasonal trend. This is the highest prices will be all year. Question is whether or not we see another decline from this local top

>> No.55153650

>>55151666
Das rite Satan. I'm glad for not being rentoid anymore, but totally can see Zestimate wealth tax incoming

>> No.55153698
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55153698

>mfw people thought they were on the property ladder with tons of equity
rip bozo

>> No.55153817

>>55151092
Its to keep propery prices high and its to create surplus labour so that people have a harder time demanding pay increases during a time of high inflation.

>> No.55153838

>>55152007
Rent control brought into my city. Now there is nowhere to rent. The landlords sold up. Rent is higher than ever and criminality is higher than ever. Pay in cash or live on the street.

>> No.55153857

>>55152385
He is already building tiny homes.

>> No.55154258

>>55150376

>Falls fucking 3.4%

>falling for that lie

>> No.55154259

which megadicked permabull is going to slam in the buy order that sends nvda over 400? you know it's going to happen today.

>> No.55154491

>>55151887
lmao are you retarded, housing crashes when employment cracks

>> No.55154527

>>55151887
>No one has built anything for like 15 years
Maybe where you live.