The prices of houses are more inflated than they've ever been in human history

[Remodeling Maidiac]

Wrong lol

Says dumbass who doesnt live here

I've lived all over the country and the same housing principles apply everywhere.
You're just wet behind the ears kiddo

Youre old and out of touch....dumbass

I'm more in touch than most of this board dummy. I work in the industry to boot.

Shockingly ignorant if thats true

Yeah, ignorant...

Yet I remodel & flip houses regularly.

You're out of your league kid

 

[Indeependent]

Says dumbass who doesnt live here

I've lived all over the country and the same housing principles apply everywhere.
You're just wet behind the ears kiddo

I got 3 times the house. With quality. For 1/2 the price. Scramming out of Cali with my loot. I was looking in the rear view mirror for the sheriff to pull me in for robbing the place all the way to the Arizona border.. It's not all equal. And thank the Constitution for that..

you werent the only one....saw lot of similar stories...never did find where the avg person lives in San Diego......just money as far as eye could see

Mostly "funny money" -- UNLESS you cashed out and went out of State. It's hysterical to see my 1st Cali home going for even $600K recently. It was WW2 TEMPORARY housing for war vets. They promised to move them OUT in 10 years. That was like 40 YEARS after I paid something like $240K for it in the late 80s.. It was just silly. If you had ever lived elsewhere. Honestly -- the housing stock is old and decrepit and should mostly be redone..

Why I think a blue book for real estate would put an end to this crap

Loan officers and Underwriters would ignore the Blue Book.

 

[Manonthestreet]

Says dumbass who doesnt live here

I've lived all over the country and the same housing principles apply everywhere.
You're just wet behind the ears kiddo

I got 3 times the house. With quality. For 1/2 the price. Scramming out of Cali with my loot. I was looking in the rear view mirror for the sheriff to pull me in for robbing the place all the way to the Arizona border.. It's not all equal. And thank the Constitution for that..

I didn't say the prices from region to region are the same. I said that housing principles are the same EVERYWHERE. If you want to live in the cities you're gonna pay for that location whereas you can get a similar house for less by getting out of the city.

Then you find a city that RISING -- rather than falling. And within a decade -- you got everything "urban" that you need. Nashville for instance has absolutely BOOMED since I got here. And it's now new and flashy and trendy living for ALL incomes.

Play the statistical bulges and trends. Just like on the stock market. You'll find the differences.

Nothing you said disproves my point. The only situations in which you can get a better deal in the cities is if you buy in the shitty neighborhood or foreclosures or under special urban development plans. Otherwise you will always get more for your dollar by moving "out"

Nothing you said disproves what I said...........I'm third tier suburb....nicely outside the beltway....there are at least 2 more past me.......probably six seven in opposite direction......suddenly 60 miles isnt that far outside of main metro......When we were looking just before the crash must have viewed 400 properties in person. Even after the crash 190 got you a piece of shit fixer upper.......

 

[flacaltenn]

I've lived all over the country and the same housing principles apply everywhere.
You're just wet behind the ears kiddo

I got 3 times the house. With quality. For 1/2 the price. Scramming out of Cali with my loot. I was looking in the rear view mirror for the sheriff to pull me in for robbing the place all the way to the Arizona border.. It's not all equal. And thank the Constitution for that..

you werent the only one....saw lot of similar stories...never did find where the avg person lives in San Diego......just money as far as eye could see

Mostly "funny money" -- UNLESS you cashed out and went out of State. It's hysterical to see my 1st Cali home going for even $600K recently. It was WW2 TEMPORARY housing for war vets. They promised to move them OUT in 10 years. That was like 40 YEARS after I paid something like $240K for it in the late 80s.. It was just silly. If you had ever lived elsewhere. Honestly -- the housing stock is old and decrepit and should mostly be redone..

Why I think a blue book for real estate would put an end to this crap

Loan officers and Underwriters would ignore the Blue Book.

Real Estate Agents and some Loan Officers might. But not the actual loan Underwriters. They'd look at the big picture using those more realistic valuations. Comes a point where "the view" just ain't worth $200K.

 

[Remodeling Maidiac]

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

 

[sakinago]

Due to a lack of halfway decent topics on USMB once again, and after being unhappy with how much I spent on groceries for only 2 people...I got to thinking about how much I pay on property taxes...on land that I freaking own. I was in a position to buy a historical house that needed A LOT of work done to it. Sure I bought it for a steal, but the work to get it livable was not at all a steal (thank god my family is in construction and excavation). Not many were in my fortunate position to get heavy equipment necessary for cheap.

To those who want to make fun of millennials living in their parents basement, fuck off. I wish I still did. The prices for houses and housing is more inflated than it's ever been, on top of that, we all encouraged our kids to go to college, where those prices are even more inflated than housing prices. No shit millennials are stuck in their parents basement. They're paying more for school loans than they are a mortgage. My school loans are relatively low...but my girlfriends aren't, and she's on the lower end of what most millennials are paying for school loans. It's nuts...why is it nuts.

Housing: too big to fail...no such thing in capitalism. The big fail all the time when they practice insane business strategies. But since we've instituted too big to fail (both bush and obama), now after the housing crash all the financiers practicing insane strategies knows it's a money maker since govt got their back when it all falls down. And now prices are worse than they were before the crash...not a good sign.

Schooling: Duh...I shouldn't have to mention this, but federal loans. Since many (including our universities) associate federal money with free money...obviously they think they can charge more...and get away with it...which they very clearly have. Guess what, it's not free money. Just like pensions, someone's going to be footing the bill down the road. Most people think hey, it's not going to be me, so fuck it, let's make some money off of it. If you're parents racked up their credit card bills before they were ready to croak, would that not piss you off?? Seriously, do some simple math. Obviously what have going on isn't working. And don't blame capitalism, because it's government intervention causing this.

2007 called, they said you were fulla shit.

About what? Have you looked at the market prices compared to 2007, when they were at their highest ever. If I didn't love my place so much, I'd be selling it now. The worked I've put in included, I've doubled equity vs what I actually bought the place. But now I've done the work, like it a lot, and don't want to sell it...but I also like money. Have you looked at what college costs now vs even the year 2000, let alone the 90s 80s 70s. It's out of control.

 

[Manonthestreet]

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Doesnt matter......shouldnt be able to charge same price for shit as ya do for new......called fraUD

 

[Indeependent]

I got 3 times the house. With quality. For 1/2 the price. Scramming out of Cali with my loot. I was looking in the rear view mirror for the sheriff to pull me in for robbing the place all the way to the Arizona border.. It's not all equal. And thank the Constitution for that..

you werent the only one....saw lot of similar stories...never did find where the avg person lives in San Diego......just money as far as eye could see

Mostly "funny money" -- UNLESS you cashed out and went out of State. It's hysterical to see my 1st Cali home going for even $600K recently. It was WW2 TEMPORARY housing for war vets. They promised to move them OUT in 10 years. That was like 40 YEARS after I paid something like $240K for it in the late 80s.. It was just silly. If you had ever lived elsewhere. Honestly -- the housing stock is old and decrepit and should mostly be redone..

Why I think a blue book for real estate would put an end to this crap

Loan officers and Underwriters would ignore the Blue Book.

Real Estate Agents and some Loan Officers might. But not the actual loan Underwriters. They'd look at the big picture using those more realistic valuations. Comes a point where "the view" just ain't worth $200K.

I don't buy it.
Nassau County just happens to be evicting people when these Jumbo Mortgages are being handed out left and right.
I simply can't justify the handing out of 600K mortgages to children.
The mortgage lenders too big to fail got their fees, commissions and houses.

 

[Remodeling Maidiac]

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Doesnt matter......shouldnt be able to charge same price for shit as ya do for new......called fraUD

It's called SUPPLY & DEMAND

Just because you can price it there doesn't mean it's worth that price UNLESS you have interested parties. Houses like every other commodity sell for what a buyer is willing to pay.

 

[Remodeling Maidiac]

I'm getting a DISTINCT entitlement vibe from this thread.

 

[Indeependent]

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Doesnt matter......shouldnt be able to charge same price for shit as ya do for new......called fraUD

It's called SUPPLY & DEMAND

Just because you can price it there doesn't mean it's worth that price UNLESS you have interested parties. Houses like every other commodity sell for what a buyer is willing to pay.

It's more than Supply & Demand...someone has to approve a loan that can't possibly be paid back.

 

[Remodeling Maidiac]

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Doesnt matter......shouldnt be able to charge same price for shit as ya do for new......called fraUD

It's called SUPPLY & DEMAND

Just because you can price it there doesn't mean it's worth that price UNLESS you have interested parties. Houses like every other commodity sell for what a buyer is willing to pay.

It's more than Supply & Demand...someone has to approve a loan that can't possibly be paid back.

Different subject. I'm talking housing & you're talking bankers. And besides, I've seen no evidence of mass defaults again.

 

[Manonthestreet]

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Doesnt matter......shouldnt be able to charge same price for shit as ya do for new......called fraUD

It's called SUPPLY & DEMAND

Just because you can price it there doesn't mean it's worth that price UNLESS you have interested parties. Houses like every other commodity sell for what a buyer is willing to pay.

Legal fraud...wonderful.......aided and abetted by govt......btw having a blue book wouldnt prevent supply and demand anymore than it does in auto business

 

[Manonthestreet]

I'm getting a DISTINCT entitlement vibe from this thread.

Consumer protection....how bout that

 

[Remodeling Maidiac]

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Doesnt matter......shouldnt be able to charge same price for shit as ya do for new......called fraUD

It's called SUPPLY & DEMAND

Just because you can price it there doesn't mean it's worth that price UNLESS you have interested parties. Houses like every other commodity sell for what a buyer is willing to pay.

Legal fraud...wonderful.......aided and abetted by govt......btw having a blue book wouldnt prevent supply and demand anymore than it does in auto business

Cars are mass produced daily. Spec homes are produced but nowhere near as much as custom builds. Point being there is a MASSIVE surplus of cars on EVERY street corner. Houses are essentially a finite product that is produced much slower.

And calling supply & demand a fraud has earned you a trip to the kiddie lounge.

Bye bye now

 

[Remodeling Maidiac]

I'm getting a DISTINCT entitlement vibe from this thread.

Consumer protection....how bout that

No one is forcing you to buy a house you deem over priced. The only protection you need is COMMON SENSE.

Jesus

 

[sakinago]

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Doesnt matter......shouldnt be able to charge same price for shit as ya do for new......called fraUD

It's called SUPPLY & DEMAND

Just because you can price it there doesn't mean it's worth that price UNLESS you have interested parties. Houses like every other commodity sell for what a buyer is willing to pay.

It's not supply and demand, it's called dealerships getting the government to force people to only buy new only from them, and then getting government to force out any other dealerships in their region, eliminating ALL competition...and then making a killing off of it. That whole depreciation "once you drive off the lot" its complete bullshit. What's really going on is you on average overspent by at least 8 grand, so of course once you actually buy it for 8 grand more than it's actually worth, at that moment, you move drastically closer to what it's actually worth. Buy a new car and try to sell it back the next day with only putting 10 miles on it, see what happens. That's not depreciation, that's you getting duped. And because we inflate so much initially, that price stays inflated for about 5 years...probably loner when you factor in that if cars were on average 8 grand cheaper, many more people would be going for newer cars vs older ones.

 

[Manonthestreet]

I'm getting a DISTINCT entitlement vibe from this thread.

Consumer protection....how bout that

No one is forcing you to buy a house you deem over priced. The only protection you need is COMMON SENSE.

Jesus

Nice platitude....obviously flawed though otherwise we wouldnt have had the type of crash we did......which I avoided......

 

[Manonthestreet]

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Doesnt matter......shouldnt be able to charge same price for shit as ya do for new......called fraUD

It's called SUPPLY & DEMAND

Just because you can price it there doesn't mean it's worth that price UNLESS you have interested parties. Houses like every other commodity sell for what a buyer is willing to pay.

Legal fraud...wonderful.......aided and abetted by govt......btw having a blue book wouldnt prevent supply and demand anymore than it does in auto business

Cars are mass produced daily. Spec homes are produced but nowhere near as much as custom builds. Point being there is a MASSIVE surplus of cars on EVERY street corner. Houses are essentially a finite product that is produced much slower.

And calling supply & demand a fraud has earned you a trip to the kiddie lounge.

Bye bye now

Which I didnt do...I said selling crap for same price as new is fraud,,,,,,lie much

 

[Remodeling Maidiac]

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Blue Book works for cars because they are not a finite product. Very seldom do you have buyers for cars competing unless it's a limited production vehicle. At that point KBB goes right out the window.

Doesnt matter......shouldnt be able to charge same price for shit as ya do for new......called fraUD

It's called SUPPLY & DEMAND

Just because you can price it there doesn't mean it's worth that price UNLESS you have interested parties. Houses like every other commodity sell for what a buyer is willing to pay.

It's not supply and demand, it's called dealerships getting the government to force people to only buy new only from them, and then getting government to force out any other dealerships in their region, eliminating ALL competition...and then making a killing off of it. That whole depreciation "once you drive off the lot" its complete bullshit. What's really going on is you on average overspent by at least 8 grand, so of course once you actually buy it for 8 grand more than it's actually worth, at that moment, you move drastically closer to what it's actually worth. Buy a new car and try to sell it back the next day with only putting 10 miles on it, see what happens. That's not depreciation, that's you getting duped. And because we inflate so much initially, that price stays inflated for about 5 years...probably loner when you factor in that if cars were on average 8 grand cheaper, many more people would be going for newer cars vs older ones.

I'm assuming you must ride a moped to work in protest then.

You know, putting your money where your mouth is and all that?