General Politics Discussion VIII [ARCHIVED] • Page 1129

In Philly, the house buying market is crazy now because of low interest rates and people who are still working saving more money. Demand is far outstripping supply. The rental market doesn't seem to be doing as well. Everyone I know who rents (including myself) got rent increases waived because the landlords know they'll have a harder time filling the spot than normal

 

Same thing is happening in the county where I live. One county over is where it being "Detroit" would be considered and I just read an article that in Detroit and its surrounding counties, the housing market is going absolutely gangbusters. Prices are jumping crazy because demand is running above available supply.

 

I think with the amount of pardons he's going to hand out to the absolute worst people, the more we'll wish COVID would have given it 110%. Not that we already don't

 

Yeah if I had any confidence and guts I'd try to sell our house and get to a nicer neighborhood in the area. We've seen the same here with the housing markets, the amount of homes that have been sold recently accoding to realtor.com is crazy. Feel like we could definitely get close to 300K for our house now when we bought it for substantially less. But I Don't think even with using that money for a downpayment on a new house in a nicer neighborhood that it would bring the monthly payment down low enough for us to afford.

 

That is a good song, though.

 

I saw Snow Day in theaters

 

A realtor friend told me houses are going for 100k over asking price right now in Portland and demand is bonkers right now that none of their clients are getting their offers accepted because people are bidding so high.

 

That's so bizarre. Where I live, this year was the first in 4 years my rent didn't go up when renewing my lease and I was partly assuming it was due to lack of applicants during a pandemic, but who knows!

 

Senate hearing on promoting dictatorship today makes me think at least one of them will challenge the results on Jan 6

 

I really want to buy a house with interest rates being so low as they are but I feel like housing prices are extremely high due to demand. Really would like to time my purchase when the market is going down instead of what feels like its current climb or peaking. Not super knowledgeable on that topic so who knows if that logic is even correct.

 

I'm shocked the school my sister teaches at just announced a snow day with no remote teaching at all. I'd be so pissed if I were in NYC and that happened to me as a kid lol

 

I’m actually trying to move out for the first time and it’s super stressful looking at shitty small apartments that are $1800+

 

Move to Portland! I pay $795 for my one bedroom

 

Wait. You have to pay for Parler? Lol.

 

I would but I’m too in love with so cal haha

 

Thank god they held their ground and the liability protections seem to be gone. Only silver lining.

 

Patreon

 

I work in construction in the SE (finishing out apartments/condos/hotels/student housing) and it has not slowed down one bit. There were rumors of cancelled projects but so far, no investors have actually pulled the plug on any project that had a change of being real (some dream pie in the sky projects are gone, but most that were serious are inked in). Our pipeline is solid through mid 2022. I fully expect the bottom to fall out around that time, and we are exploring diversifying to other areas of construction (healthcare/airports/schools), but I've been doing nothing but apartments for 10 years and every year has been a substantial increase and that doesn't appear to be stopping next year. I know it varies by city, so to clarify, these are not houses or townhomes owned by smaller landlord groups, but big apartment properties that will be owned by some huge conglomerate management company. I did not expect business to be going this well when Covid ramped up early in the year, and I still don't know if that's a good or a bad thing. I can't tell if we're building beyond capacity speculatively, or if the markets I work in are still at high capacity/payment on time further have demand.

 

Rent in some places blows my mind. 1800+ for a small apartment is absolute bonkers. Though I see that was in So Cal, man it must be nice to not have winter.

 

One shinning point of the STL area is how cheap rent is out here

 

What the fuck are we supposed to do with $600?!

 

$800 for a one bedroom in the metro Detroit area.

 

What do you consider small? lol $1800 is my rent for about 825sf (1 bedroom) and it feels like more than enough room for myself/my wife and 4 animals (a dog and 3 cats)... I won't argue it's not a lot of $, but it's a market average value, but more square footage then most places and a nice open layout. I don't know if I'll ever feel ready to buy... the down payment (not necessarily saving, but parting with it) is daunting. I also like knowing that I could always find somewhere cheaper to live if I lost my job. With a house, your mortgage is your mortgage, and oh... you can't pay it? well we'll have your house back and any money you put into it is just gone.