The earliest of that has already started in some areas.
I bought a second house in Maryland in 2012 for $235,000The earliest of that has already started in some areas.
Here is one of them.
Though the prices of homes here are still unconscionably high... they are just starting to lower.
But there is a long-long-long way to go.
Example - we bought the home we live in, in 2019.
The price we paid was right at what it valued at then, now it is valued 69% higher. One more time... 69% more than just 3 years ago.
The next 2008 began on 2020. All of the millions of people who have bought homes, especially in the past 18 months - are going to be significantly under water with their mortgages. WAAY underwater.
That is going to cause problems sooner than later.
Just curious, why a second home in Maryland?I bought a second house in Maryland in 2012 for $235,000
Its value remained the same for eight years. in the last two years it has increased in value to $370,000.
Just curious, why a second home in Maryland?
You spending the summers there? And winter south?
One of the things Bonzi and I are contemplating. Instead of buying one home further south, buy two smaller homes - one north, one south.
My first home was a 950 sq. ft. 3B 1B rancher on a crawlspace. I built it for 29K in '77.Starter homes just down the highway from my modest house are now starting at 300K. Literally the cheapest you can find for new homes.
I wouldn't want that monthly payment.
Ft Dix?I worked for the Army for 28 years when DoD in its infinite wisdom decided to close the base in NJ and move to MD
I wanted to keep my house in NJ and buying another house was cheaper than renting.
So I bought a house a hundred yards from the Chesapeake Bay. I liked it so much I decided to keep both when I retired
i am not sure. seems nobody is building "starter homes" any longer. This will be a problem for years to come
I know by me they have been building developments of McMansions and senior housing for decades
What do you want to approve? 45 McMansions or 200 starter homes?
Nobody wants to have to pay for kids
Just wait....things will get worse.
Billions of Dollars and MaoMoney is being smuggled into the US from china by private citizens who do not trust their government and their chinese banks
Making California real estate the worst investment at the moment. Buy low, sell high. Not buy high and hope to sell higher.Billions of Dollars and MaoMoney is being smuggled into the US from china by private citizens who do not trust their government and their chinese banks
California real estate is a smart investment for them
Teal estate is overpriced but its not ever going down againMaking California real estate the worst investment at the moment. Buy low, sell high. Not buy high and hope to sell higher.
Real estate is a commodity that tends to hold its value. But if bought at market peak it lags every other investment opportunity available while it drops or stays at the same price. That ties up money that could be invested elsewhere earning better returns.