New England B.S. Thread

All from the same person. I've almost finished the SW one.

YMMV, but I myself don't want a sleeve. I like having each one stand out on its own.

 

yeah my sleeve is planning to be one coalescant idea so each part will hold something on its own and then as a whole picture too. I have other ideas for my left arm too as a sleeve, otherwise I’m in the same boat I like to have them broken up.

 

My right arm has an evil theme, as you have noticed

 

Yep. Some landlords ARE getting their buttons kicked. I'm gonna toe the line, and state this, just like anything else, investment carries risks. Real-estate is no different, you HAVE to plan on not making any money. In fact, due to repairs, etc. You have to plan on a loss.

Yep. I've been cut here in the US(Texas, Virginia, Florida, CT), and Singapore.
Last one was a shop in in Stafford. Dude does great work

 

Zillow has my house 50% higher than what I paid for it four years ago. Based on what I see things selling for, it may not even be that crazy. No way would I pay that for the house I have now, though. I can't see those numbers lasting either.

I keep seeing 5-10 acre lots pop up for 20-30k and that's tempting. That's the size I'd eventually like to build on.

 

Whatever Zillow has, add $40k MINIMUM over that foolish price (and you'll have 40 offers within 3 days). My buddy who owns a real estate firm says he had the all time jaw dropper last week... a $450k house sold for $200K OVER ASKING PRICE!!!! Boggles the mind.

 

Mine went 235 to 310 ish. Sep 2017 to today. It would probably go.

Two things are happening:

1. Rates down, prices up. That's the normal cycle. When rates go up, prices go down. If you can nail these cycles, you win. We (me and you I guess) kind of did. We nailed the highest interest rates for the lowest prices on this cycle, and then the rates went kablooie and prices went up.

2. Pandemic effects - you had a lot of people leaving the cities, which I do think had a hand in a lot of the general market uptick, but was only a minor player, not the major factor. Along the same line, lumber prices went up for new construction, which raised demand for not new-construction houses, since the new-construction was so expensive, they'll look for a "used" house instead.

I think #1 is the major player here, where as #2 is just what you'll see on the news. Definitely factors but not the major root cause, only minor root causes.

 

Rates have an effect for sure, but demand is what’s the driving force on prices. And I believe it’s those that are becoming new home owners thats dwindling the supply. Folks with money buying quarantine homes didn’t help either.

 

I want a quarter sleeve, cause i'm a "professional" but still want to be able to wear short sleeve polo's once i'm back in the office.

 

There was a thing on the news this morning about how if you wanted a house now you either need full asking price in cash money, or forego the home inspection with an offer over asking price. Fucking crazy pants McGee either way. Who's got $650k cash in hand (low price for decent house in town here), definitely not this guy or most anyone besides Bezos. And foregoing a home inspection is straight special needs short bus retarded.

In summary, I'm old, get off my lawn and keep the noise down.

 

I'm in the same boat, I don't care though. I'm probably just doing blacks, no colors. I have a color on my left shoulder and it's good, but I don't want to keep that going. My skin tone washes out a lot, and I spend a lot of time in the sun

 

My parents live in upstate NY and they're seeing that sort of craziness. With COVID, a lot of companies based in NYC are allowing people to work from home or have shifted to working from home full time. So now, all these people have done the mass exodus, sold off their multi-million dollar shoe box condo in the heart of NYC and can come upstate and pay $6-800k in cash like it's nothing because it's a fraction of what their place just sold for. Just wait until this bubble bursts and we have all these people upside down on their houses again, just like 2008.

 

Just wait until this summer when they learn there are mosquitoes, and raccoons.

 

I've been preaching this is 08' all over again... Sucked last time and probably won't be any better this time

 

We got our house at the tail end of that fiasco in 2011. Which was good cause we'd never have been able to afford it otherwise.

 

Yep, that's what I'm waiting for to buy again. Banking cash until that time comes, and it will!

 

There's no way it can't with all the houses going for more than asking.

 

Same here, we bought in 2011. We're trying to move this year which I'm seriously hesitant about. We may try to sell, rent for a bit, then buy again but that's tough with kids moving them around. I don't mind the whole sell high, buy high thing, but the market is absolutely nuts right now.

 

Yeah so, what will happen in ~5 years, is that the rates will go back up, and values will go down. Down bigly. So, a house that's going for 400k right now will have 5 years on a 30 year note, meaning in about 5 years the note will still have 320k or so, but the house will go back down to 300k. There's going to be a looooot of people underwater when that happens.

Fortunately, this won't be as bad as 2008, it's not nearly as much a bank risk this time. People are paying so much in cash this time around that the notes are MOSTLY going to be 50% of the cost, so most won't be underwater once this all shakes out, but a lot will.

 

Same, we also bought in 11' . Thought about moving to New Hampshire beginning of covid and decided against it so that the kids would not have to move. Wife was Air Force brat and I moved a lot as a kid. So far all three of our kids 7, 12, 19 all got to be in the same schools and it would be pretty cool to not move them