- cross-posted to:
- housing_bubble_2
- cross-posted to:
- housing_bubble_2
My salary didn’t change at all, but homes went up 82%. The money I saved for a down payment and my salary no longer are good enough for this home and many others. This ain’t even a “good” home either. It was a 200k meh average ok home before. Now it’s simply unaffordable
House down the st was 94k in 2015, it sold for 195500 last year.
Bought our cottage for 50k at the peak of the rural movement in 2020 after it had been on the market for months, just sold it while the second property market has completely crashed for 130k after putting 10k in it and cleaning the fuck out of the lot (the place was disgusting, I’m talking 90 industrial garbage bags of crap, mostly beer bottles, a couple tons of wood and concrete and so on)…
Sometimes you’re just lucky and people don’t want to do what’s required to get what their property is worth!
What I’m hearing is that houses have the ability to be a great investment.
Work to get a house and then when you are old and ready to retire you sell and then have a great retirement.
Where tf do you live then? You’re just gonna need to buy another home
You downsize to a small apartment for older folks.
Those cost more than a house! The one my friends dad lived in where it was all in the same building and the staff was there just in case you fell was 4k a month.
It depends on where you go. You probably don’t need much in terms of space and features.
…until you realize that you still need a place to live after retirement, and any house you’re buying will have the same average increase across the board.
I’m talking much later in life when some of the basic things become a little harder but still doable. You move into an apartment that is for older folks.