Housing market trash

awheelterd

Well-Known Member
Joined
Oct 18, 2007
Location
Kenly, NC

jeepinmatt

..l.
Joined
Mar 24, 2005
Location
On the internet
"While Moody's Analytics own research finds 96% of housing markets are overvalued, Zandi won't call this a housing bubble. In order for it to be a housing bubble, it would need both home price overvaluation and speculation in the market. Unlike the FOMO driven 2000s housing market, Zandi doesn't think speculation is driving our ongoing boom."

Where do they even get their data then? There are more institutional investors now than ever before. And they have greater market percentages than ever before.
 

Jody Treadway

Croc wearing fool
Moderator
Joined
Mar 20, 2005
Location
Hendersonville, NC
I'm just glad we're not buying anything right now. Like everyone else, we could sell and make a ton of profit. But that profit will be eaten up quickly in the cost of a replacement home. We refinanced last year at 3% and keep knocking down the priciple with extra $$$ each month.
I really can't imagine starting out/over/etc and looking down the barrel of a starter home in WNC being in the $300k at 6%+ range.
 

RatLabGuy

You look like a monkey and smell like one too
Joined
May 18, 2005
Location
Churchville, MD

RatLabGuy

You look like a monkey and smell like one too
Joined
May 18, 2005
Location
Churchville, MD
I really can't imagine starting out/over/etc and looking down the barrel of a starter home in WNC being in the $300k at 6%+ range.
The thing is, if inflation truly is universal, and it is 8+%, then it also means that your income will be going up by the same amount (in theory on average).
You'll be able to afford 8% more house and mortgage [once it catches up to you.. .the only question is when that happens]
Thats one of the points of the article @shawn posted.
 

Jody Treadway

Croc wearing fool
Moderator
Joined
Mar 20, 2005
Location
Hendersonville, NC
The thing is, if inflation truly is universal, and it is 8+%, then it also means that your income will be going up by the same amount (in theory on average).
You'll be able to afford 8% more house and mortgage [once it catches up to you.. .the only question is when that happens]
Thats one of the points of the article @shawn posted.
I see that 100%.
I'm of the persuasion of not to be in debt when shit hits the fan. That's where my perspective comes from.
 

RatLabGuy

You look like a monkey and smell like one too
Joined
May 18, 2005
Location
Churchville, MD
I see that 100%.
I'm of the persuasion of not to be in debt when shit hits the fan. That's where my perspective comes from.
And its a very sensible perspective.
The point is simply that if inflation increases both prices and income, then the income-to-debt ratio doesn't change much and there isn't any real risk.
Of course if you're in a profession that gets canned, then you're fucked. But that would be the case no matter how much of a mortgage you have.
 

benXJ

Well-Known Member
Joined
Dec 5, 2005
Location
Raleigh NC
Just lost out on another house (6th one) after offering $22k over asking with a nice due diligence fee and 30 day closing 🙃


Bring on the recession
Is it 100% necessary for you to buy a new house now? The prices now are massively over inflated and not based on reality. If you buy you are part of the problem.
 

VortecJeep

Powered by Uranium-235
Joined
Aug 24, 2005
Location
Concord, NC
The thing is, if inflation truly is universal, and it is 8+%, then it also means that your income will be going up by the same amount (in theory on average).
You'll be able to afford 8% more house and mortgage [once it catches up to you.. .the only question is when that happens]
Thats one of the points of the article @shawn posted.
Do most companies provide raises that keep up with inflation of this magnitude? I cannot imagine that my company (I work for a large utility) will give across the board 8% raises.
 

RatLabGuy

You look like a monkey and smell like one too
Joined
May 18, 2005
Location
Churchville, MD
Do most companies provide raises that keep up with inflation of this magnitude? I cannot imagine that my company (I work for a large utility) will give across the board 8% raises.
On average, probably not immediately. I have no idea what the typical lag is between rises in the cost of goods & living, and average wages. I'm quite sure that data exists.
But bc of supply and demand they eventually HAVE to some extent. if you don't pay enough, people quit. If an industry doesn't catch up, it dies off. The only question really is, for any particular industry what is that lag time?

As a government employee I can guarantee you my pay wont go up nearly enough to catch up. Last I saw the proposal was 4.6%, which in any other year would be huge, but now is like half what would be appropriate.
 

VortecJeep

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Joined
Aug 24, 2005
Location
Concord, NC
People are getting double-digit annual raises.
By changing companies, or staying where they are? I hope so, but I don’t foresee it happening at the power company any time soon. And I understand it from their perspective, until they are seeing lots of top talent leave without being able to fill the roles, they don’t have to.
 

shawn

running dog lackey of the oppressor class
Administrator
Joined
Mar 13, 2005
Location
Raleigh, NC
By changing companies, or staying where they are? I hope so, but I don’t foresee it happening at the power company any time soon. And I understand it from their perspective, until they are seeing lots of top talent leave without being able to fill the roles, they don’t have to.
Standard annual review

If you're not getting a big raise, you need to go find a new job.
 

CarolinaHD

Well-Known Member?
Joined
Dec 2, 2008
Location
Concord
Is it 100% necessary for you to buy a new house now? The prices now are massively over inflated and not based on reality. If you buy you are part of the problem.


Screenshot_20220510-153652_DuckDuckGo.jpg


Yes I need to buy a house
 

RatLabGuy

You look like a monkey and smell like one too
Joined
May 18, 2005
Location
Churchville, MD
Standard annual review

If you're not getting a big raise, you need to go find a new job.
Please tell this to Congress on my behalf.
 

RatLabGuy

You look like a monkey and smell like one too
Joined
May 18, 2005
Location
Churchville, MD

UTfball68

Well-Known Member
Joined
Jul 18, 2008
Location
Granite Quarry
If you're not getting a big raise, you need to go find a new job.

This^^^

Unless you suck at your job and should be grateful you're even employed. Frankly, I've had more than one person chase a dollar because they thought they were better/more qualified than they were (which I don't blame them for)...get fired, then come ask for their job back. Not everyone is a rock star...and not every business is going to have the patience to manage around an employee's short comings.
 
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