Housing where you don’t want it is fairly affordable. Housing where you really want it is near hysterical.I live in the Napa Valley. Hysterical. Can’t afford to dine out here, The French Laundry, I here in the paper it is nice. Never eaten there, drove by a few times, when I win the lottery.
I spend less than $100 per month on gas and electric. And I will tell you PG&E electric and gas are probably as expensive as Paradise. It is not cheap. And should be.
We have sun, we have wind, we have natural gas. And then we have PG&E, the problem. Legacy, they live a hundred years in the past.
I have not turned on the heater or AC for over a month. Later in the summer, for sure. Then the smoke from all the wild fires. I would leave on vacation but my 102 year old dad does not want to leave the house. You know, pandemic, everything he knows about, the town.
And then the earthquakes. Last big one was like 2 AM.
Not perfect wherever you live. And yes, 1.6 million is not expensive around here. Put it on the market and you might get 2 million.
And that could be for tear down and rebuild. Nuts.
One thing. Remember what happened the last time cost of new/used home went up and banks starting lending to folks who had less then adequate funds to cover the high mortgages ? Think Bush.
Once upon a time, developers built STARTER houses: a two-story cape with an unfinished second floor, and no garage, no porch. They were made so young married couples could afford it. Not today, though. I read that the big MacMansions are much more profitable. My older sister & her husband bought such a starter home back in the early 1960’s. She once told me that after the purchase, she & hubby couldn’t sleep for about a week, worrying “How are we going to pay back $16,000?” Today, with addition and other upgrades, they could get close to a mil!
It is crazy. Two weeks ago, we put my late brother’s house for sale online Thursday evening. In 48 hours, Zillow showed over three thousand views and over 275 saves (according to my broker, that is phenomenal). He had already booked over twenty appointments. That Sunday we had a two-hour Open House and more than thirty parties showed up. With Covid-19 rules, only one party at a time so it took almost four hours. By Monday afternoon, there were 17 offers, ranging from asking price up to $60K over. $60K! And yesterday, I signed a contract to sell at $45K over what we asked, which is a full $100K more than what the house value was just one year ago.
The thing, this is just a normal house. A nice house, but hardly a luxury property. It comes down to supply and demand, the basis of the American free market economy. Which means the GQP has nothing to whine about. If anywhere, the blame goes to the Orange Menace who ignored the pandemic for months and months before finally doing a piss-poor job of reacting to it, trashing our economy.
I am so glad that my little house and 3 acres of riverfront property here in Kentucky are fully paid for, with no mortgage…it’s no palace, but IT’S MINE!
we just bought a house. My lady friend is a retired mortgage banker and knows the ropes. We saw the listing, liked it, and called the realtor. He already had three offers, but we made ours higher than asking price, with no stipulations. Fortune favored us and we’re moving now. We were only lucky in that this house, in this neighborhood and price range, was listed when it was. The rest was speed and skill. Lesson learned by me: “He who hesitates is lost”. Good luck to all.
I wonder if statistics are available as to how many of those purchases are from corporate speculators, how many are from foreign investors, and how many are from people actually living in the house.
Not good, but at least interest rates are still low. My first home purchase was at %15.9 rate and that was the lowest at the time through a local bond.
My parents bought a beautiful new construction home in the suburbs 1969 for $42,000. By the late 1970s it was worth over $100,000. My mother, a child of the Great Depression, told me that she thought if she ever lived in a $100,000 home it would be a mansion and have servants. That came after Nixon’s Admin, reducing taxes, making inflation, recession and the economic mess that lasted through Reagan’s recession, and into his ‘trickle down’ 2nd term, and finally controlled by Paul Volcker. Volcker left and Bush1 was left holding the Reagan bag and had his own recession.
Every Republican/conservative president since 1929 has had a depression or recession, some had two. They prove over and over that Republican/conservatives cannot manage a budget or govern.
Concretionist almost 3 years ago
It’s insane out there.
Daeder almost 3 years ago
Seems weird to me that it would be that much of a seller’s market right now.
pepwine almost 3 years ago
Housing where you don’t want it is fairly affordable. Housing where you really want it is near hysterical.I live in the Napa Valley. Hysterical. Can’t afford to dine out here, The French Laundry, I here in the paper it is nice. Never eaten there, drove by a few times, when I win the lottery.
I spend less than $100 per month on gas and electric. And I will tell you PG&E electric and gas are probably as expensive as Paradise. It is not cheap. And should be.
We have sun, we have wind, we have natural gas. And then we have PG&E, the problem. Legacy, they live a hundred years in the past.
I have not turned on the heater or AC for over a month. Later in the summer, for sure. Then the smoke from all the wild fires. I would leave on vacation but my 102 year old dad does not want to leave the house. You know, pandemic, everything he knows about, the town.
And then the earthquakes. Last big one was like 2 AM.
Not perfect wherever you live. And yes, 1.6 million is not expensive around here. Put it on the market and you might get 2 million.
And that could be for tear down and rebuild. Nuts.
Vivi <333 almost 3 years ago
Welcome to the real world.
William Bednar Premium Member almost 3 years ago
One thing. Remember what happened the last time cost of new/used home went up and banks starting lending to folks who had less then adequate funds to cover the high mortgages ? Think Bush.
moosemin almost 3 years ago
Once upon a time, developers built STARTER houses: a two-story cape with an unfinished second floor, and no garage, no porch. They were made so young married couples could afford it. Not today, though. I read that the big MacMansions are much more profitable. My older sister & her husband bought such a starter home back in the early 1960’s. She once told me that after the purchase, she & hubby couldn’t sleep for about a week, worrying “How are we going to pay back $16,000?” Today, with addition and other upgrades, they could get close to a mil!
kentmarx36 almost 3 years ago
The Repulsican Crime Family has their defense of the coming economic crash already planned out" IT’S ALL THE DEMOCRATS’ FAULT./s
Zev almost 3 years ago
It is crazy. Two weeks ago, we put my late brother’s house for sale online Thursday evening. In 48 hours, Zillow showed over three thousand views and over 275 saves (according to my broker, that is phenomenal). He had already booked over twenty appointments. That Sunday we had a two-hour Open House and more than thirty parties showed up. With Covid-19 rules, only one party at a time so it took almost four hours. By Monday afternoon, there were 17 offers, ranging from asking price up to $60K over. $60K! And yesterday, I signed a contract to sell at $45K over what we asked, which is a full $100K more than what the house value was just one year ago.
The thing, this is just a normal house. A nice house, but hardly a luxury property. It comes down to supply and demand, the basis of the American free market economy. Which means the GQP has nothing to whine about. If anywhere, the blame goes to the Orange Menace who ignored the pandemic for months and months before finally doing a piss-poor job of reacting to it, trashing our economy.
michealc Premium Member almost 3 years ago
California maybe but not where I live.
Masterskrain Premium Member almost 3 years ago
I am so glad that my little house and 3 acres of riverfront property here in Kentucky are fully paid for, with no mortgage…it’s no palace, but IT’S MINE!
ImDaRealAni almost 3 years ago
Yup, house prices are sadly booming.
Packratjohn Premium Member almost 3 years ago
we just bought a house. My lady friend is a retired mortgage banker and knows the ropes. We saw the listing, liked it, and called the realtor. He already had three offers, but we made ours higher than asking price, with no stipulations. Fortune favored us and we’re moving now. We were only lucky in that this house, in this neighborhood and price range, was listed when it was. The rest was speed and skill. Lesson learned by me: “He who hesitates is lost”. Good luck to all.
ferddo almost 3 years ago
Soon to create another subprime housing market bubble?
Cerabooge almost 3 years ago
I wonder if statistics are available as to how many of those purchases are from corporate speculators, how many are from foreign investors, and how many are from people actually living in the house.
pamela welch Premium Member almost 3 years ago
It’s a nightmare
grumpypophobart almost 3 years ago
‘The real world’…………..brought to you by Capitalism, ponzi schemes, and over inflated egos with fat wallets.
apfelzra Premium Member almost 3 years ago
SUCH a deal!
IndyW almost 3 years ago
Not good, but at least interest rates are still low. My first home purchase was at %15.9 rate and that was the lowest at the time through a local bond.
ncorgbl almost 3 years ago
My parents bought a beautiful new construction home in the suburbs 1969 for $42,000. By the late 1970s it was worth over $100,000. My mother, a child of the Great Depression, told me that she thought if she ever lived in a $100,000 home it would be a mansion and have servants. That came after Nixon’s Admin, reducing taxes, making inflation, recession and the economic mess that lasted through Reagan’s recession, and into his ‘trickle down’ 2nd term, and finally controlled by Paul Volcker. Volcker left and Bush1 was left holding the Reagan bag and had his own recession.
Every Republican/conservative president since 1929 has had a depression or recession, some had two. They prove over and over that Republican/conservatives cannot manage a budget or govern.
History is simply repeating itself.