The housing bubble
03-09-2016, 12:22 AM
#1
Member
Thread Starter
The housing bubble
Anyone else feel like its 05 06 again?
Last 2 yrs most home prices have almost doubled, out this way most places that come up are snapped up immediately by large Chinese corps then using them as rentals. Have been watching this very closely as I am desperately trying to find something with a garage. You cannot touch anything without bars on the windows for under 400k
(Im going to wait obviously but affording rents til that happens....)
Avg working guy cant even qualify unless the banks fudge something.
Even rent :whistle:
Allllll over again
Being as Chinas economy from what I hear isnt doing that great and lotsa $ here what do you all foresee happening? Anyone else feeling the pinch?
Discuss
Last 2 yrs most home prices have almost doubled, out this way most places that come up are snapped up immediately by large Chinese corps then using them as rentals. Have been watching this very closely as I am desperately trying to find something with a garage. You cannot touch anything without bars on the windows for under 400k
(Im going to wait obviously but affording rents til that happens....)
Avg working guy cant even qualify unless the banks fudge something.
Even rent :whistle:
Allllll over again
Being as Chinas economy from what I hear isnt doing that great and lotsa $ here what do you all foresee happening? Anyone else feeling the pinch?
Discuss
10-10-2018, 07:21 AM
#2
Senior Member
My in-laws house was a total mess. Had not been painted or updated in 40 years. Prime location and great land value. They paid in the 30,000 range.
We sold it to a "flipper" for 550,000. Good profit. They were a group of investors. My guess is they put about 200,000 into renovations, new appliances, and new heating/air conditioning .
The house never made it to the open market. It was sold for 830,000 a good profit for the investors.at The neighbors are complaining that we sold for too little. Until they saw the new house and the resale price. My real estate agent says this is the new norm in the older home market.
We sold it to a "flipper" for 550,000. Good profit. They were a group of investors. My guess is they put about 200,000 into renovations, new appliances, and new heating/air conditioning .
The house never made it to the open market. It was sold for 830,000 a good profit for the investors.at The neighbors are complaining that we sold for too little. Until they saw the new house and the resale price. My real estate agent says this is the new norm in the older home market.
