All Hokie, All the Time. Period. Presented by

The Lounge Board

hokiehunter07

Joined: 01/01/2005 Posts: 4140
Likes: 2021

What's this?

Our culture in the US focuses on payments...


SO short-sighted. Right now this insane demand is driving home prices through the roof. What people don't seem to understand is that eventually interest rates are going to rise, likely sharply. At that point, demand is going to CRASH. When demand crashes, so will prices.

Suddenly you lose your job. That house you paid $550,000 for is now only worth $330k. You get a job offer in another town or out of state. You're hosed. You're likely underwater and unable to take a promising new position b/c you can't take the bath.

This crash is coming. I'm just going to sit back in the house I paid a reasonable price for 9 years ago upgrade to a McMansion when the price falls 60% in 4-5 years.

(In response to this post by Chris Coleman)

Posted: 11/03/2021 at 12:11PM


+3

Insert a Link

Enter the title of the link here:


Enter the full web address of the link here -- include the "http://" part:


75
Hide This

Current Thread:
 
  Is this crazy - the town next to me ... -- DaveVT 11/03/2021 10:41AM
  Belmont is nice but yeah, that's crazy...appears a flipper may be out in -- ME Hokie 07 11/03/2021 11:13AM
  Walls made of gold? ** -- fordham 11/03/2021 11:12AM
  Drop that sucker in Christiansburg and it's way under $200K... ** -- JoesterVT 11/03/2021 10:59AM
  Sometimes I think about listing my house... -- Chris Coleman  11/03/2021 10:53AM
  I could make $200k after investing $50k in 18 months -- Vienna_Hokie 11/03/2021 1:17PM
  It's a fantastic time to sell any extra real estate you've got -- Tafkam Hokie 11/03/2021 12:58PM
  Our culture in the US focuses on payments... -- hokiehunter07 11/03/2021 12:11PM
  Just sold the house I bought 8 mos ago for $70k+ -- YardBird 11/03/2021 11:54AM
  We've appreciated 30+% in 2 years owning our current house -- hoosnowahokie 11/03/2021 11:38AM
  50% in 3 years here ** -- HokieMacDaddy 11/03/2021 12:03PM
  If you sold, I would rent until circumstances change… -- BG Hokie 11/03/2021 11:34AM
  Ehh... REnt has gone up too, thought not a terrible idea... -- hokiehunter07 11/03/2021 1:24PM
  Not necessarily ... -- Nova Hokie 95 11/03/2021 11:01AM
  Houses in my neighborhood get sold immediately and torn down -- Happy Dog 11/03/2021 10:59AM
  People have lost their dang minds. ** -- YardBird 11/03/2021 10:50AM

Tech Sideline is Presented By:

Our Sponsors








vm307