Home prices UP nearly 2% nationally…..once again frustrating crash predictors.

Heard a new word today. Exurbs. I guess it’s the stuff out past the suburbs? They keep building further and further out.

Yeah, here in Houston we are getting WAAYYYYYYYYY out there. Either that, or they are building these weird townhouse type things with zero yard, crazy HOA that are like 5 inches from the next house. $390K price

How the heck do you fix a siding problem????? You can't even get a person in that gap. I saw them building it, and they install the siding while the next house hasn't been sheathed in yet, so they have room to work WITHIN the next house.

This is the hood, near me. Why would I want that over a singly family house on a 1/4 acre lot?

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Yeah, here in Houston we are getting WAAYYYYYYYYY out there. Either that, or they are building these weird townhouse type things with zero yard, crazy HOA that are like 5 inches from the next house. $390K price

How the heck do you fix a siding problem????? You can't even get a person in that gap. I saw them building it, and they install the siding while the next house hasn't been sheathed in yet, so they have room to work WITHIN the next house.

This is the hood, near me. Why would I want that over a singly family house on a 1/4 acre lot?

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These are available in 64 ounce cans to solve this issue …

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People don't like to sell when they already have a low rate mortgage locked in and they are not desperate. They would be desperate if the economy is collapsing. At least in the US it is not, we may be in a cool down and recessing but not collapsing like 2008 or 2001, at least not yet.

I haven't seen bankers jumping off NYC sky scrapers yet, I also haven't seen working class being foreclosed on yet. This is happening in some Asian countries but not here.
 
How the heck do you fix a siding problem????? You can't even get a person in that gap. I saw them building it, and they install the siding while the next house hasn't been sheathed in yet, so they have room to work WITHIN the next house.
People buy townhouses all the time and they just make sure it is water proof or cover the top as much as possible. We have a lot of that in big cities and we just seal the roof from ours to our neighbors, all the way around when we are there.
 
When only rich people can afford to buy houses, of course the average can still go up.
Until it doesn't.

There is no forever going up market anywhere on earth. It may take 30 years to reach a peak then collapse, like Tokyo in the 90s, or anywhere in China right now. And it is not just the real estate market too, Taxi Medallions in NYC is also like that. When one side has all the power eventually the market will change and a collapse would happen, this is how any bubble in history ends.

We are not there yet. The only thing is people today value more things than a house with a yard in the suburb. People don't mind living in urban apartment and having kids at 35 and only 1 kid instead of having kids at 16 and give birth to 6 of them. When you look at it it make sense, the worst income and the best income can easily be 6x and having fewer higher quality family members make sense in today's world. You don't want 10 minimum wage job kids that need your retirement to fund them, you want 1 that makes 10x the income and give birth 6-10 years later than before.
 
Yeah, here in Houston we are getting WAAYYYYYYYYY out there. Either that, or they are building these weird townhouse type things with zero yard, crazy HOA that are like 5 inches from the next house. $390K price

How the heck do you fix a siding problem????? You can't even get a person in that gap. I saw them building it, and they install the siding while the next house hasn't been sheathed in yet, so they have room to work WITHIN the next house.

This is the hood, near me. Why would I want that over a singly family house on a 1/4 acre lot?

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Yep. Terrible mini houses that people are buying.

I posted a thread about small houses in Texas. I would rent something versus buying a mini house.

 
I still believe the Government is doing everything possible to keep the housing market propped up including delaying any foreclosures for many reasons.

Nick explains it much better than I could.


 
Until it doesn't.

There is no forever going up market anywhere on earth. It may take 30 years to reach a peak then collapse, like Tokyo in the 90s, or anywhere in China right now. And it is not just the real estate market too, Taxi Medallions in NYC is also like that. When one side has all the power eventually the market will change and a collapse would happen, this is how any bubble in history ends.

We are not there yet. The only thing is people today value more things than a house with a yard in the suburb. People don't mind living in urban apartment and having kids at 35 and only 1 kid instead of having kids at 16 and give birth to 6 of them. When you look at it it make sense, the worst income and the best income can easily be 6x and having fewer higher quality family members make sense in today's world. You don't want 10 minimum wage job kids that need your retirement to fund them, you want 1 that makes 10x the income and give birth 6-10 years later than before.
Tokyo is the perfect analog IMHO. 2030 here would be my guess based purely on the population pyramids. Unless we turn the immigration faucet back on. But people didn’t like that so my guess is not.
 
I've always enjoyed visiting Florida... in February. So far, every time I have gone, I have left New England in a snow storm. This past time I left with a cold, and I gotta admit, it was a really nice place to recuperate. :)

However I'm not sure what is worse, New England winter or Florida summer!
I like Florida in summer. Less crowded.

Having lived in both I’ll take wet sticky summer over solid water falling from the sky.
 
Yeah, here in Houston we are getting WAAYYYYYYYYY out there. Either that, or they are building these weird townhouse type things with zero yard, crazy HOA that are like 5 inches from the next house. $390K price

How the heck do you fix a siding problem????? You can't even get a person in that gap. I saw them building it, and they install the siding while the next house hasn't been sheathed in yet, so they have room to work WITHIN the next house.

This is the hood, near me. Why would I want that over a singly family house on a 1/4 acre lot?

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Reminds me of the Jelly Bean row condo I rented in St John’s …
Sure hope they have a better parking plan 😵‍💫
 
Yeah, here in Houston we are getting WAAYYYYYYYYY out there. Either that, or they are building these weird townhouse type things with zero yard, crazy HOA that are like 5 inches from the next house. $390K price

How the heck do you fix a siding problem????? You can't even get a person in that gap. I saw them building it, and they install the siding while the next house hasn't been sheathed in yet, so they have room to work WITHIN the next house.

This is the hood, near me. Why would I want that over a singly family house on a 1/4 acre lot?

View attachment 297861

View attachment 297862
People lose their minds for new construction and staging. Overlook tight quarters, tiny garages, no driveway, and thin walls hearing the neighbors. And one can be sure large non stop barking dogs will be living in some of those new construction homes.
 
People lose their minds for new construction and staging. Overlook tight quarters, tiny garages, no driveway, and thin walls hearing the neighbors. And one can be sure large non stop barking dogs will be living in some of those new construction homes.
I agree 100% about staging, some deceptive. We have a high end builder nearby, building a MASSIVE community. At least trying, starting to see a slow down here in the sense too many new home communities for the amount of buyers.
The model homes are beautiful in every sense of the word, well known higher end regional builder. (Chesapeake Homes) so even without what they did in misleading the public with the models homes by all means they are really nice. I have a sibling most likely will buy one. Deciding between a couple communities. (keep in mind these are not huge homes, the SC/NC coastal area in mostly retirement.

Get this, the model homes have REALLY wonderful decorating and "wall treatments" Every room just the right amount. They have used ShipLap very well placed on certain walls and hallways on the 5 models homes. For those that do not know, Shiplap are (lack of a better word) Roughly 4 inch wide planks of wood nailed in, with half inch spaces covering entire walls. Tastefully painted. Well placed throughout the homes so its not overwhelming. Get this!!!!! The Shiplap does not come with the homes AND IT IS NOT AN OPTION.
Salesman meekly said, "yeah I know" The so called designers wanted it to be known what could be done with the house, however they do not do it, you would have to get your own contractor after closing.

This would be an example, many others on the website, though you wont see Shiplap in them, yet in the model homes there are.
BTW- you are not going to get the home you see anywhere near the starting prices.
https://www.coastalclubcarolinas.com/floorplans/the-boardwalk/6096/

@GON, I just updated the above^
 
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