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06-16-2021, 07:59 PM | #721 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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I think what we're concluding is that housing prices are spiking everywhere for a combination of reasons.
Low interest rates certainly play a part in that. Delayed demand plays a part as millennials didn't move into the market on a predictable basis and are now starting to catch up. Millennials are a big new population of buyers. Some people may have more cash due to stimulus stuff, though that's probably not significant. And I think there's still a lingering shortage of housing dating all the way back from the 2009-2010 recession. Investment funds are screwing over the American Dream by buying houses over what real people can pay. AirBnB corporations are buying houses so they can be fake hotels without paying taxes. Combine them all and you get this. |
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06-16-2021, 08:03 PM | #722 | |
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None of that adds up to me and it shouldn’t be this high. |
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06-16-2021, 08:26 PM | #723 |
I love your mom
Join Date: Feb 2020
Location: Sturgeon Falls, Ontario
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06-16-2021, 08:28 PM | #724 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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On a percentage basis I bet it’s some place in Colorado. I have a landlord in Golden. What he’s telling me explodes my brain.
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06-16-2021, 09:20 PM | #725 |
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06-16-2021, 09:26 PM | #726 |
The Maintenance Guy
Join Date: Sep 2005
Location: Renovated Bugeater Estate
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We paid $223k for our place a little over 2 years ago. I'm fairly certain I could get close to $300k for it right now. Part of it is because it had a horrid kitchen that has since been renovated, but even without that it would probably be an easy $280k. And that's here in freaking Omaha...where nobody really wants to live.
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06-16-2021, 09:28 PM | #727 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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We've certainly seen big increases. From what other people are saying, it may not be larger percentage-wise, but most Colorado homeowners are starting from a high base value. It adds up to a lot of appreciation.
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06-16-2021, 10:10 PM | #728 | |
MVP
Join Date: Oct 2011
Location: Chandler AZ
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If I didn't like the house so much/hate moving so much I'd sell it asap and pray for a big correction, but with the Fed printing money like a teenager with a new credit card I'm not sure that's going to happen anytime soon anyway. It would only take 30 more ounces of gold at current gold prices to buy my house at its current value than it would've taken to buy it for $415k in 2014 using Oct 2014 gold prices - so it's more the dollar losing value than it is my house gaining value. |
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06-16-2021, 10:20 PM | #729 |
Has a particular set of skills
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Location: On the water
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06-16-2021, 10:49 PM | #730 |
Banned
Join Date: Jan 2013
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06-16-2021, 10:53 PM | #731 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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I downloaded a data set here that's apparently Zillow's year over year home sales prices for 2020 versus 2019.
https://sparkrental.com/hottest-real-estate-markets/ Check it out and see how your county is doing. There's some inconsistency because you may have houses in different prices ranges selling from year to year, but it gives us a good feel. The thing that strikes me is that the appreciation isn't as high as I would expect at all. Denver posted a 6.71 percent increase according to this data, which is a great number, but anecdotally I was thinking it would be double that based on what I see in the market. The median county is about 4.45 percent. Last edited by Rain Man; 06-16-2021 at 10:59 PM.. |
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06-16-2021, 11:04 PM | #732 | |
The Maintenance Guy
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06-16-2021, 11:06 PM | #733 |
Banned
Join Date: Jan 2013
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My best friend does very well in real estate out here. His most recent deal to go under contract the other day was for one guy, two houses, over $1m each, cash, and was simply able to outbid other suiters. Chicago guy who will be snowbirding.
This boom is a supply and demand issue that is likely to linger until new home starts get going again, when lumber costs come back down. Phoenix inventory sucks right now for anything less than $500K. Probably better in Lewdog's area since nobody wants to live out there. Last edited by eDave; 06-17-2021 at 08:47 AM.. |
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06-16-2021, 11:43 PM | #734 |
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06-17-2021, 08:29 AM | #735 | |
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