# Do You Think The Housing Bubble Will Burst Soon?



## Lee (Jul 30, 2021)

Not sure about the USA but here in Canada some areas are experiencing record levels of rising real estate.

I consider myself fortunate that I bought when I did a little under two years ago and could sell today and make a substantial profit.

Cash out and go into a nice apartment? Or move to a different area where real estate is still affordable. Would like to wait a little bit, just not quite ready but worry about a crash.

Your thoughts.


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## OneEyedDiva (Jul 30, 2021)

I think it's hard to tell when the housing bubble will burst, especially with the affects rising COVID cases are creating. The USA has definitely seen an increase in housing prices. Someone posted in another thread how not only are prices higher, people are paying more than the asking prices.  If you sold would you be considering a condo or senior housing? Have you started researching where prices might be more affordable?


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## Aunt Bea (Jul 30, 2021)

When interest rates go up the real estate market will cool and prices on existing homes will stabilize or drop.  New construction will be out of reach for many.

IMO most people focus on the monthly payment they can qualify for and don’t really concern themselves with the value or cost of the property.

High interest rates translate into high payments and less home for the money.

Renting won’t be much different. If people can’t buy a home they will rent and those rents will go up as the demand for apartments increase.

IMO the only way to ‘win’ is to cash out and move to a cheaper part of the country.

Good luck!


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## fmdog44 (Jul 30, 2021)

I get this finance/investment newsletter that always says invest conservatively and save your money. This edition said inflation should continue through 2022. Add that to the Delta virus impact things could get crazy.


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## Alligatorob (Jul 30, 2021)

Lee said:


> Do You Think The Housing Bubble Will Burst Soon?​


Yes, absolutely.  In fact I am surprised it has not yet burst.  I believe all housing bubbles burst, its just a question of when and how much things will turn down.

One caveat, I am no expert and am usually wrong on things like this.  So you are welcome to pay me little mind...


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## Lee (Jul 30, 2021)

Diva, yes, I have started looking online. Before I bought this place I was worried sick about becoming homeless. Hubby and I were living in a summer trailer as we did not research and sold our home without thinking of the consequences. Our thought was an apartment and a summer trailer.

Apartments were impossible to find, hubby had just had major surgery and October was approaching when the summer park would close. I got in touch with a realtor who took pity on me (tears helped) and bought a mobile home in a mostly senior park for $87,900 and watched with disbelief 6 weeks later when an identical unit sold for $130,200 so timing was perfect.

I did put around $30,000 into it, and a lot of sweat equity. 

Today it is no exaggeration this place would sell between $210,000 to $220,000 and in this park they sell often the same day, no kidding, but I hesitate as apartments are still hard to find.

I am thinking the Atlantic provinces of Canada or Thunder Bay or perhaps Manitoba.


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## Alligatorob (Jul 30, 2021)

The Florida real estate bubble of the 1920s is a good lesson (https://en.wikipedia.org/wiki/Florida_land_boom_of_the_1920s ). 

It was probably the worst bubble in US history.  Prices in the 1920s rose to levels that did not recover for many years.  I understand some of the land still has not recovered to what it sold for almost 100 years ago.  Probably swamp originally sold as "waterfront".

I grew up in Florida in the 50s and 60s, and the impacts were still being felt.  The town I grew up in was still paying off debts incurred in sewer and street expansions that were never used.  I lived in a neighborhood with old decaying brick streets most of which never had houses built on them.  It must have appeared lovely (or potentially lovely) when first built...  I had a great uncle who was a developer and went bankrupt in the bust.  Got to hear lots of stories from him when I was growing up.


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## Don M. (Jul 30, 2021)

At some point, perhaps in a couple of years, this housing "bubble" will certainly burst.  When this pandemic eases, and supply begins to catch up with demand, there will be thousands of people who are paying ridiculous prices for houses today, that will be left with huge mortgage payments on a house that is worth a fraction of what they paid.


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## officerripley (Jul 30, 2021)

I would love to get out of this house and into something even just a tiny bit smaller. My main concern is to get somewhere within walking distance of stores, bank, etc. (The only thing within walking distance--and it's a *long* walking distance--of us now is a tiny gas station convenience store.) And I'd love to do it soon before the bubble bursts and since I don't drive much anymore (I feel kind of stranded). But Huzz abso refuses to move; says he's gonna have to be carried out of here feet-first, sigh.

Speaking of mobile homes, Lee, a mobile home up for sale here in a rundown (I mean there is literal garbage lying there in a lot of the spaces) park that's within walking distance of nothing is listed for $250,000! They probably won't get that much for it, but I bet they get more than what it cost new.


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## Colleen (Jul 30, 2021)

When we moved 7 years ago from PA to AZ, we paid $240,000 for a 2200 SF home on 1/2 acre, 4 bathrooms, pool, etc. Today, it would sell for $450,000. Hind-sight is always 20-20, right, because we did sell it 4 years ago and made a little money and bought a smaller house with less upkeep for $156,000. We're in the process of relocating back to PA (probably in the Spring) and our house has doubled in value in 4 years. We hope that holds. A lot of people come here from CA and pay way too much for houses and that drives up prices and inventory. The builders can't build homes fast enough here. That's good for the seller but when the bubble bursts like in '08, the houses aren't going to be worth what they paid for them. We saw that when we came here. People had paid way too much but then couldn't get rid of them and many had to sell them at a loss.


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## Nathan (Jul 30, 2021)

> Do You Think The Housing Bubble Will Burst Soon?



Doesn't really matter to me, not moving anytime ever.     I'll be glad when prices go back down so I can petition the county tax assessor to lower my property taxes back down.   Also, my homeowners insurance had taken a 50 % increase just this past year...will have to fight the insurance company to back the rates down again.


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## Packerjohn (Jul 30, 2021)

Building houses is probably the number 1 industry here in Canada.  I was to the city last week and the new Canadians were everywhere.  The only English I heard in 5 hours was at the check out counter.  Makes an "old timer" like me wonder about the future?  By the way, with the rising price of housing there are going to be more homeless everywhere.  There is going to be a price to be paid for all those silly bidding wars for houses and even bidding wars for apartments.  Too bad that the real estate agents got so greedy.  Too bad for young people going over their financial heads for big MacMasion types of houses.  Too bad for the average person looking for affordable housing.


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## Aneeda72 (Jul 30, 2021)

Lee said:


> Not sure about the USA but here in Canada some areas are experiencing record levels of rising real estate.
> 
> I consider myself fortunate that I bought when I did a little under two years ago and could sell today and make a substantial profit.
> 
> ...


I am in the USA.  I owed our house for 1 year 4 months.  With the rising prices and a sure certainty of a crash, IMO, I sold.  I got a nice check and paid off all my bills and am buying a new car.  I can’t advise you what do to, but I was worried about ending up, upside down on the house.


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## Aneeda72 (Jul 30, 2021)

OneEyedDiva said:


> I think it's hard to tell when the housing bubble will burst, especially with the affects rising COVID cases are creating. The USA has definitely seen an increase in housing prices. Someone posted in another thread how not only are prices higher, people are paying more than the asking prices.  If you sold would you be considering a condo or senior housing? Have you started researching where prices might be more affordable?


I got more than the asking price and a cash offer as well.  Housing Prices are insane in Utah right now.


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## Aneeda72 (Jul 30, 2021)

Aneeda72 said:


> I got more than the asking price and a cash offer as well.  Housing Prices are insane in Utah right now.


Dup


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## mellowyellow (Jul 30, 2021)

It’s the same in Sydney, interest rates are so low, people have gone mad overextending themselves and it’s not much good selling at a profit today when you have to buy another property tomorrow.


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## Aneeda72 (Jul 30, 2021)

mellowyellow said:


> It’s the same in Sydney, interest rates are so low, people have gone mad overextending themselves and it’s not much good selling at a profit today when you have to buy another property tomorrow.


Yes, but we have rented an apartment and decided not to buy anytime soon.  Maybe after the bubble bursts and properties are much lower.  About 7 years ago we tried to sell a house for 80,000 and no buyers.  Today that house would sell for 350,000.  Go figure.


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## oldmontana (Jul 30, 2021)

Aneeda72 said:


> I am in the USA.  I owed our house for 1 year 4 months.  With the rising prices and a sure certainty of a crash, IMO, I sold.  I got a nice check and paid off all my bills and am buying a new car.  I can’t advise you what do to, but I was worried about ending up, upside down on the house.


Nice but where are you going to live or did you own a rental?


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## Aneeda72 (Jul 30, 2021)

oldmontana said:


> Nice but where are you going to live or did you own a rental?


We rented an apartment.  We do not own a rental house if that is what you mean.


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## Don M. (Jul 30, 2021)

Aneeda72 said:


> We rented an apartment.  We do not own a rental house if that is what you mean.


Renting, at this time, is probably a wise move.  In a couple of years, you might be able to buy a nice house for half of today's prices.


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## Jules (Jul 30, 2021)

Our housing market is red hot too.  There is absolutely nothing to rent and because this is a tourist area, there aren’t even hotel rooms to rent.  Less than 1% vacancy and people are offering an extra payment to the landlords if they’re the ones accepted.


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## Aneeda72 (Jul 31, 2021)

Jules said:


> Our housing market is red hot too.  There is absolutely nothing to rent and because this is a tourist area, there aren’t even hotel rooms to rent.  Less than 1% vacancy and people are offering an extra payment to the landlords if they’re the ones accepted.


We were very lucky with the rental.  All the decent apartments were rented, but I was checking  every day and we made the decision to pay double housing costs if one came up because I knew our house could be sold.  We were limited in choices because he insisted on having Comcast.

Someone had reserved an apartment but changed their mind.  We put a deposit down that day. Luckily the times worked out and we only paid 1/2 month double rent.  We had lived in these apartments twice before so we had no problems.  They didn’t even require us to show proof of income.


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## Lee (Jul 31, 2021)

I have fallen in love with this place on paper  Something to do with the little brook out back.

To buy this place is less than half of what I would get for the one I have now. Pay off small mortgage, commission, etc and still leave me enough to ensure that I have adequate funds for cat food.

https://www.realtor.ca/real-estate/23380780/7-kingfisher-road-saint-john


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## Aneeda72 (Jul 31, 2021)

Lee said:


> I have fallen in love with this place on paper  Something to do with the little brook out back.
> 
> To buy this place is less than half of what I would get for the one I have now. Pay off small mortgage, commission, etc and still leave me enough to ensure that I have adequate funds for cat food.
> 
> https://www.realtor.ca/real-estate/23380780/7-kingfisher-road-saint-john


I LOVE it.  You would have to really investigate that the brook does not overflow it’s bank, and make sure to take out flood insurance cause you never know.  But I would buy it.  Those stairs on the back patio could be changed to a ramp.


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## Liberty (Jul 31, 2021)

Alligatorob said:


> The Florida real estate bubble of the 1920s is a good lesson (https://en.wikipedia.org/wiki/Florida_land_boom_of_the_1920s ).
> 
> It was probably the worst bubble in US history.  Prices in the 1920s rose to levels that did not recover for many years.  I understand some of the land still has not recovered to what it sold for almost 100 years ago.  Probably swamp originally sold as "waterfront".
> 
> I grew up in Florida in the 50s and 60s, and the impacts were still being felt.  The town I grew up in was still paying off debts incurred in sewer and street expansions that were never used.  I lived in a neighborhood with old decaying brick streets most of which never had houses built on them.  It must have appeared lovely (or potentially lovely) when first built...  I had a great uncle who was a developer and went bankrupt in the bust.  Got to hear lots of stories from him when I was growing up.


Where in Florida was that Alligatorob?


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## Alligatorob (Jul 31, 2021)

Liberty said:


> Where in Florida was that Alligatorob?


The town I grew up in (mostly) was Dunedin, we lived on Scotland street.  That street is still nicely maintained brick and our old house still there looking much the same.  Dunedin was the town still paying off the debts from the 20s.  The old subdivision that never got finished was one in Tarpon Springs, right on Lake Tarpon, we lived there for a while. 

The Tarpon Springs subdivision was planned as a glorious waterfront community, a brick boulevard complete with fountains and granite curbs got built to the lake, and other streets were laid out.  The only houses that got built were on the lake, on a dirt street that never got paved.  There were piles of street bricks and granite in the woods that were never used.  When we lived there the fountains in the boulevard were overgrown and hard to see.  I went back recently and found things much changed, all the lots have now been built on and the original brick boulevard remains, but the other streets were paved with blacktop.  The old lake house we lived in is still there, but expanded and updated almost beyond recognition.  The most notable change is that when we lived there this was relative high ground, a sand ridge to the lake, both sides were swamp and low lying ground.  That low lying ground has now been drained and/or filled and multi-story condos built, kind of depressing.

It was a great place to grow up.  Our family moved away in 67 and I made my first trip back to see things just 2 years ago.  Amazing how much things changed in that time, it was hard to find much recognizable...


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## Liberty (Jul 31, 2021)

We stayed overnight in Dunedin on the way to the   Ft. Myer's Beach condo we used to spend the month of January in for years.  It is a nice "tightly populated" little town.  Very unusual for Florida.  Must have been a great place to grow up in.  Loved the bike trails they have there now.  Oh, the memories, huh!


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## Aneeda72 (Jul 31, 2021)

Alligatorob said:


> The town I grew up in (mostly) was Dunedin, we lived on Scotland street.  That street is still nicely maintained brick and our old house still there looking much the same.  Dunedin was the town still paying off the debts from the 20s.  The old subdivision that never got finished was one in Tarpon Springs, right on Lake Tarpon, we lived there for a while.
> 
> The Tarpon Springs subdivision was planned as a glorious waterfront community, a brick boulevard complete with fountains and granite curbs got built to the lake, and other streets were laid out.  The only houses that got built were on the lake, on a dirt street that never got paved.  There were piles of street bricks and granite in the woods that were never used.  When we lived there the fountains in the boulevard were overgrown and hard to see.  I went back recently and found things much changed, all the lots have now been built on and the original brick boulevard remains, but the other streets were paved with blacktop.  The old lake house we lived in is still there, but expanded and updated almost beyond recognition.  The most notable change is that when we lived there this was relative high ground, a sand ridge to the lake, both sides were swamp and low lying ground.  That low lying ground has now been drained and/or filled and multi-story condos built, kind of depressing.
> 
> It was a great place to grow up.  Our family moved away in 67 and I made my first trip back to see things just 2 years ago.  Amazing how much things changed in that time, it was hard to find much recognizable...


I had the same problem a couple years ago.  Hardly recognized the place I grew up.


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## Alligatorob (Jul 31, 2021)

Liberty said:


> Loved the bike trails they have there now


Used to be train tracks, we took the train from Dunedin to St Pete several times on what is today a bike trail.  It all seems so long ago now... Downtown Dunedin looks much the same superficially, most of the buildings are still there.  But what used to be small hardware, clothing, or the like are now upscale restaurants, breweries, or things like yogurt shops.  Could be worse I guess...

I agree the old part of Dunedin is still a "nicely populated" area.  That is how a lot of Florida towns once looked, downtown Tarpon Springs and Clearwater were much the same, even Tampa and St Pete to some extent.  Its the newer suburban sprawl that has drastically changed things...


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## Liberty (Jul 31, 2021)

Alligatorob said:


> Used to be train tracks, we took the train from Dunedin to St Pete several times on what is today a bike trail.  It all seems so long ago now... Downtown Dunedin looks much the same superficially, most of the buildings are still there.  But what used to be small hardware, clothing, or the like are now upscale restaurants, breweries, or things like yogurt shops.  Could be worse I guess...
> 
> I agree the old part of Dunedin is still a "nicely populated" area.  That is how a lot of Florida towns once looked, downtown Tarpon Springs and Clearwater were much the same, even Tampa and St Pete to some extent.  Its the newer suburban sprawl that has drastically changed things...


Do you ever think about moving back?  Have extended family that live In Utah and want to move to Ft. Walton Beach, Florida.


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## Alligatorob (Jul 31, 2021)

Liberty said:


> Do you ever think about moving back?


I would prefer living in Florida, but my wife is a native Utahan and the grandkids are here.  I also like Utah, if it only had the Gulf of Mexico and less winter it would be great!!

I would not go back to Dunedin or Pinellas County though, far too developed and crowded for me.  The last 25 years or so I lived in Florida was in Franklin County, Alligator Point, I like that area a lot better now.  I find Ft. Walton something in-between.  A very nice place, and less crowded than Pinellas, but still too crowded for me...


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## Aneeda72 (Jul 31, 2021)

Alligatorob said:


> I would prefer living in Florida, but my wife is a native Utahan and the grandkids are here.  I also like Utah, if it only had the Gulf of Mexico and less winter it would be great!!
> 
> I would not go back to Dunedin or Pinellas County though, far too developed and crowded for me.  The last 25 years or so I lived in Florida was in Franklin County, Alligator Point, I like that area a lot better now.  I find Ft. Walton something in-between.  A very nice place, and less crowded than Pinellas, but still too crowded for me...


We used to have a LOT more snow.  We had a Ford pinto decades ago.  Snow would be up to the lower part of the windows and this was in SLC.


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## Alligatorob (Jul 31, 2021)

Aneeda72 said:


> We used to have a LOT more snow


I prefer the snow we got in Florida, none!

A couple of years ago we did get snow that deep here, but we are a bit colder and snowier than SLC.


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## Jules (Jul 31, 2021)

@Lee, too bad @Keesha hasn’t been around. She bought a home in NS, sight unseen.


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## Uptosnuff (Jul 31, 2021)

Lee said:


> I have fallen in love with this place on paper  Something to do with the little brook out back.
> 
> To buy this place is less than half of what I would get for the one I have now. Pay off small mortgage, commission, etc and still leave me enough to ensure that I have adequate funds for cat food.
> 
> https://www.realtor.ca/real-estate/23380780/7-kingfisher-road-saint-john


I like it too.  I was impressed with the pictures.


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## Liberty (Aug 1, 2021)

Alligatorob said:


> I would prefer living in Florida, but my wife is a native Utahan and the grandkids are here.  I also like Utah, if it only had the Gulf of Mexico and less winter it would be great!!
> 
> I would not go back to Dunedin or Pinellas County though, far too developed and crowded for me.  The last 25 years or so I lived in Florida was in Franklin County, Alligator Point, I like that area a lot better now.  I find Ft. Walton something in-between.  A very nice place, and less crowded than Pinellas, but still too crowded for me...


We came from Ohio and certainly wouldn't want to have to move back up north.  Never ever missed the snow...lol.  So know what you mean - privacy rules, also.  Nice to have land. Nothing beats a nature surrounding  warm weather climate.


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## Ken N Tx (Aug 2, 2021)

Liberty said:


> We came from Ohio and certainly wouldn't want to have to move back up north.  *Never ever missed the snow...lol.  So know what you mean - privacy rules, also.  Nice to have land. Nothing beats a nature surrounding  warm weather climate.*


Ditto....Moved out of Illinois back in the 80's,never looked back!! Currently live on 4.5 acres 15 miles from the bigger town..


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## Aneeda72 (Aug 2, 2021)

Ken N Tx said:


> Ditto....Moved out of Illinois back in the 80's,never looked back!! Currently live on 4.5 acres 15 miles from the bigger town..


Do you raise and sell dogs?  I notice dog run and puppy shed.  What kind of dogs?


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## Liberty (Aug 2, 2021)

Ken, looks great.  If I posted an aerial view of this 12 acres all you would see was trees, a circular drive  and a big house with a red roof...lol.  Its not dense woods but looks that way from a plane view.
How long have you lived where you live now?  We've lived here since 1985.


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## Remy (Aug 2, 2021)

As someone looking to buy, I wish it would but I'm doubtful. My area has had increases due to fire lost homes also.

I never did it right. Bought a house in another town in my county in late 2001 when prices were going up. Then put it up for sale right when the crash started in 2008. That area was cheaper. I should have bought in this town. I could have afforded it. I was looking at condos then but everything was also selling in a second. I think about a loft style condo I looked at in probably 96 or 97 when prices were low but interest rates were high. I thought it was too much for me in size and affordability. I could have afforded it. I would have paid it off a long time ago.


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## Alligatorob (Aug 2, 2021)

Remy said:


> I never did it right.


I understand, I am the master of buying high and selling low, LOL.  For me predicting the real estate market is no better than the roulette wheel.  I have bought and sold lots of houses, in the end I did make a net profit, but probably no greater than inflation...


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## Aneeda72 (Aug 2, 2021)

Alligatorob said:


> I understand, I am the master of buying high and selling low, LOL.  For me predicting the real estate market is no better than the roulette wheel.  I have bought and sold lots of houses, in the end I did make a net profit, but probably no greater than inflation...


I think I’ve broken even


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## mellowyellow (Aug 2, 2021)

Aneeda72 said:


> Yes, but we have rented an apartment and decided not to buy anytime soon.  Maybe after the bubble bursts and properties are much lower.  About 7 years ago we tried to sell a house for 80,000 and no buyers.  Today that house would sell for 350,000.  Go figure.


I hope it works out for you Aneeda72


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## Ken N Tx (Aug 3, 2021)

Aneeda72 said:


> Do you raise and sell dogs?  I notice dog run and puppy shed.  What kind of dogs?


The wife bred Siberian Huskies,all gone now.. 


Liberty said:


> Ken, looks great.  If I posted an aerial view of this 12 acres all you would see was trees, a circular drive  and a big house with a red roof...lol.  Its not dense woods but looks that way from a plane view.
> *How long have you lived where you live now?*  We've lived here since 1985.


Built here in 1998...


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## StarSong (Aug 3, 2021)

Aunt Bea said:


> When interest rates go up the real estate market will cool and prices on existing homes will stabilize or drop.  New construction will be out of reach for many.
> 
> IMO most people focus on the monthly payment they can qualify for and don’t really concern themselves with the value or cost of the property.
> 
> ...


I agree with Aunt Bea. 
I think the housing market will cool off a bit, but not a lot.  To the detriment of human happiness, a lot of big corporations will likely continue purchasing single family houses as future rentals.           

Two of my children bought their first homes within the last 18 months. (The third bought 10 years ago.) 

They took out 30 or 40 year loans and will not pay them off early - with fixed mortgage interest rates in the 2-1/2% range, why would they? They looked at their monthly payments versus escalating rents and took the plunge. It's a different world than the 20% down, 13% interest rate that DH and I were dealing with when we first bought a home.


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## officerripley (Aug 3, 2021)

Aunt Bea said:


> When interest rates go up the real estate market will cool and prices on existing homes will stabilize or drop.  New construction will be out of reach for many.
> 
> IMO most people focus on the monthly payment they can qualify for and don’t really concern themselves with the value or cost of the property.
> 
> ...


I totally agree but unfortunately, some people are unable for various reasons to move to a cheaper part of the country, family, espec. elderly parents maybe, that they can't leave (or convince to come with them), lack of jobs in the cheaper area (that'll support you anyway), etc. And unfortunately, people in that position are members of a large club; there are a lot of people (including yours truly) in this country who are stuck living in undesirable places but can't, and never will be able to, move. Just not feasible for too many people.


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## Aneeda72 (Aug 3, 2021)

StarSong said:


> I agree with Aunt Bea.
> I think the housing market will cool off a bit, but not a lot.  To the detriment of human happiness, a lot of big corporations will likely continue purchasing single family houses as future rentals.
> 
> Two of my children bought their first homes within the last 18 months. (The third bought 10 years ago.)
> ...


There is a 40 year housing loan?


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## StarSong (Aug 3, 2021)

Aneeda72 said:


> There is a 40 year housing loan?


They've been around for a long time now.  (Actually all of my kids have 30 year mortgages.)  But yes, there are 40 and even 50 year mortgages.


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## mathjak107 (Aug 4, 2021)

Aunt Bea said:


> When interest rates go up the real estate market will cool and prices on existing homes will stabilize or drop.  New construction will be out of reach for many.
> 
> IMO most people focus on the monthly payment they can qualify for and don’t really concern themselves with the value or cost of the property.
> 
> ...


There is no seesaw effect between interest rates and home prices …..rates have to go way way high to see a direct effect .

2007 had real estate soaring at 6-7% mortgages .

real estate was soaring here in nyc in 1987 and I bought my first investment property . I was happy to get 8-1/4%.

real estate is effected mostly by the local economy , jobs and demand ..

in fact rising rates usually spur the market as those on the fence go we better buy now before we can afford even less house .

almost 40% of all deals lately are all cash so rates don’t even matter


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## StarSong (Aug 4, 2021)

mathjak107 said:


> There is no seesaw effect between interest rates and home prices …..rates have to go way way high to see a direct effect .
> 
> 2007 had real estate soaring at 6-7% mortgages .
> 
> ...


I disagree.  Rates affect payment affordability for anyone who takes out a loan.  If 40% of recent deals are all cash that means 60% need financing.  When the combination of home price and interest rates are too high, buyers won't qualify for them.


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## mathjak107 (Aug 4, 2021)

StarSong said:


> I disagree.  Rates affect payment affordability for anyone who takes out a loan.  If 40% of recent deals are all cash that means 60% need financing.  When the combination of home price and interest rates are too high, buyers won't qualify for them.


All that happens is people step down a notch ..it has always put pressure on he lower end when rates rise


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## StarSong (Aug 4, 2021)

mathjak107 said:


> All that happens is people step down a notch ..it has always put pressure on he lower end when rates rise


I guess we'll see how everything spins out. Nobody has a crystal ball.


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## Aneeda72 (Aug 4, 2021)

StarSong said:


> I guess we'll see how everything spins out. Nobody has a crystal ball.


Well, some people have crystal balls, just saying.


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## WhatInThe (Aug 9, 2021)

Sooner or later those capable of paying inflated pricing will fade. The money will run out.

 Sold a house as is in a hot market and got more than a full renovation would've got during the first bubble. Like most other recent sales in the neighborhood it was out of state working couples that purchased it(out of staters don't realize they are in one of the highest property tax rates in county) Nearby city money will either go to more luxary type neighborhoods or can't afford the burbs.


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## Aneeda72 (Aug 9, 2021)

WhatInThe said:


> Sooner or later those capable of paying inflated pricing will fade. The money will run out.
> 
> Sold a house as is in a hot market and got more than a full renovation would've got during the first bubble. Like most other recent sales in the neighborhood it was out of state working couples that purchased it(out of staters don't realize they are in one of the highest property tax rates in county) Nearby city money will either go to more luxary type neighborhoods or can't afford the burbs.


Saw a real estate sign on the way back from our short trip “sell to a Californian” .  A lot of people buying houses in Utah are Californians, Texans, and a few New Yorkers.


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