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Millenials the new Boomers?

Yeah, I am in Hamilton County and locked into buying right at the tail end of the 2008 downturn, got my house at the time for around $150,000 and comps are currently going for twice that. They have gone up about $75k just since last fall.

The original house I built in 2004 for like $110,000 I have seen comps to it listed for $220,000 now...and we are talking a no frills 1250 sq ft starter house.

I think a bunch of people purchasing right now are going to find themselves upside down soon. If you are a seller and you can do it, sell now, rent, and buy later.
Kid's 14. I'm hoping to time the market just right for when I can sell my overpriced house when she goes to college and get the hell out of where i'm at to a more non-overpriced area.
 
It is certainly possible that race was an issue, but there is no way of knowing. Appraisal seems more an art than a science.

I recall in the lead up to 2008 a company calling us to sell us a mortgage. I wasn't interested in a new mortgage and frankly didn't have a tremendous amount of equity since we had pulled money out a few years before. The vulture, uhm, upstanding lender said, "we know who to use for appraisals to get you the maximum amount". I still said no but that has stuck with me.

There are plenty of studies that show homes in mostly Black neighborhoods appraise for less. It may be that seeing a Black homeowner with Black photos and the like could lead a buyer to conclude they are looking at a Black neighborhood. But overall, I am someone skeptical this is happening. There are comparable stories in Florida and in California. In the Florida example, the person refused to file a complaint with the appropriate board which seems strange.

I don't doubt it has happened, and it can happen, but I'm not convinced the proof is there that this isn't some other variation. I don't know how to make it a more serious experiment though.
This is the right take. But our media is quite quick to continue to point out minority “victims” of perceived injustice. I cannot fathom how insulting and insane it must be to those adults who take responsibility for their lives and work hard and try to improve them to have to constantly listen to dipshit woke millennials constantly tells how oppressed they must be.
 
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No need to "upgrade". That's where you people screw up, always wanting more/bigger/better. I'm content with what I have.
Nah I'm not that way at all but I know what you mean. I drive around and see these huge houses with 2 people living is some and ask "Why?". I'm more like you... we could afford a lot more than we have but like you said I'm content with what I have. If a person spends all their life wanting more they'll never be happy.
 
If you’re around Indiana, drive to Jasper to their Toyota dealership. Its MILES better than Bloomington. I don’t deal in Indy so I can’t talk much.
I live in Jasper - got my wife’s Highlander in Indy as Uebelhors wouldn’t match the price, but got the best deal I could find on my Tacoma when I bought it in 2016 at Uebelhors. Haven’t dealt with Bloomington. I only kept it for a year, they ain’t what they used to be. I was surprised at our most recent purchase. We went shopping for a used car & ended up buying a new Volvo for 14% under sticker. I threw an offer out there I didn’t think they’d accept but they did, much to my chagrin. Not my first choice in vehicle, but wifey is happy...
 
Nah I'm not that way at all but I know what you mean. I drive around and see these huge houses with 2 people living is some and ask "Why?". I'm more like you... we could afford a lot more than we have but like you said I'm content with what I have. If a person spends all their life wanting more they'll never be happy.
Remember that real estate is also an appreciating investment when done properly. McMansions in good locations will return a hefty gain at sale.
 
Yeah, I am in Hamilton County and locked into buying right at the tail end of the 2008 downturn, got my house at the time for around $150,000 and comps are currently going for twice that. They have gone up about $75k just since last fall.

The original house I built in 2004 for like $110,000 I have seen comps to it listed for $220,000 now...and we are talking a no frills 1250 sq ft starter house.

I think a bunch of people purchasing right now are going to find themselves upside down soon. If you are a seller and you can do it, sell now, rent, and buy later.
We had a house in our neighborhood where a realtor knocked on the door and told the owners that she had clients who wanted to buy the house for more than any house in the neighborhood has ever sold for. They are now unexpectedly moving.
 
We had a house in our neighborhood where a realtor knocked on the door and told the owners that she had clients who wanted to buy the house for more than any house in the neighborhood has ever sold for. They are now unexpectedly moving.
I warn my wife everyday that if someone came and offered us our Zillow value of the house we are gone the next day.
 
I warn my wife everyday that if someone came and offered us our Zillow value of the house we are gone the next day.
I thought it was a bullshit rumor then I looked it up on Zillow and it said sold for the ungodly amount I heard. I think I’d probably be in your camp if that happened to us.
 
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We had a house in our neighborhood where a realtor knocked on the door and told the owners that she had clients who wanted to buy the house for more than any house in the neighborhood has ever sold for. They are now unexpectedly moving.
Yeah, I get calls regularly, "Want to sell?"

Yes, I really do, the problem is I don't want to buy right now. Also, with elementary age kids, that mobility is a little less than it has been in my past. (We don't want to yank the kids to a new school).

I told my wife if it was just the two of us I would sell right now and get an apartment until the correction drops.
 
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Yeah, I get calls regularly, "Want to sell?"

Yes, I really do, the problem is I don't want to buy right now. Also, with elementary age kids, that mobility is a little less than it has been in my past. (We don't want to yank the kids to a new school).

I told my wife if it was just the two of us I would sell right now and get an apartment until the correction drops.

Thats the rub. Now you have to buy a new house in the same overheated market. Plus you have to move. Which is truly a horrible experience.
 
Remember that real estate is also an appreciating investment when done properly. McMansions in good locations will return a hefty gain at sale.
Yeah that is true but there's also a lot of expense in having a huge house. As a house gets bigger the more it cost so property taxes are higher and utilities are more expensive and there are fewer that can afford it. Of course I think there's a sweet spot where a lot of people can afford a house and it doesn't cost a fortune to own it.
 
Thats the rub. Now you have to buy a new house in the same overheated market. Plus you have to move. Which is truly a horrible experience.
Only good thing about moving is that it gives you a chance to get rid of the stuff that you've kept stored for years but never used.
 
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On good thing about moving is that it gives you a chance to get rid of the stuff that you've kept stored for years but never used.
**Puts an arm around NPT**

"Let me tell you a little tale about my last move....."

**Camera pans to numerous dusty and unopened cardboard boxes with a woman's handwriting on them**

///Scene
 
Yeah, I get calls regularly, "Want to sell?"

Yes, I really do, the problem is I don't want to buy right now. Also, with elementary age kids, that mobility is a little less than it has been in my past. (We don't want to yank the kids to a new school).

I told my wife if it was just the two of us I would sell right now and get an apartment until the correction drops.
That’s the problem. It’s simple economics. If you are selling into an overheated market you have to buy back in to an overheated market.
 
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I saw photos from Kentucky of thousands of trucks that have been built but are missing their computer chips because of the shortage. I imagine that's playing into the pricing big time, and it may be a couple of years before the chip industry catches up.

I don't know if people watched the 60 Minutes episode this week on chips. Flat out Intel admitted they are a couple of generations behind Taiwan in chip technology. Simply put, we can't buy American because we can't make them. Now Intel is promising to catch up, Or more likely they are promising ketchup because I doubt the other is going to happen.

The story spoke of China investing heavily in chips in an effort to catch Taiwan, the program failed. There is fear that China may just conduct a hostile takeover of Taiwan. Now I know the main reason for these comments about a likely war between China and Australia involves their trade, but I imagine fears of Taiwan come in somewhat https://www.dailymail.co.uk/news/ar...ralia-China-tensions-reach-boiling-point.html.

Apple and Toyota are coming out of this looking like masters of supply chain management, both saw this crunch coming a lot earlier than their competitors and acted really aggressively to get ahead of it. Apple by taking control of their full lifecycle and moving to their new M1 chip and in the process locking up huge chunks of fab capacity dedicated only to them. Toyota learned from the disruption to their just-in-time philosophy after the tsunami and selectively built excess capacity (or forced their suppliers to do so) of certain parts including the chips they need. Always interesting to see the big companies that have enough agility to not get caught flat-footed by these types of situation.
 
I saw photos from Kentucky of thousands of trucks that have been built but are missing their computer chips because of the shortage. I imagine that's playing into the pricing big time, and it may be a couple of years before the chip industry catches up.
A couple times in the past month or two I've logged into Newegg and tried to spec out a new computer, just for grins. Since I'm an AMD guy, I went to see how hot of a Ryzen I could get without blowing the bank. None were available except for the $1000 Threadrippers.

Thankfully, my current rig is still perfectly serviceable after going on nine years. When I spec'd it out then, I did my darndest to make it as obsolescence proof as possible, and so far so good. It's had a memory bump from 4G to 8G and I'm using an SSD, but otherwise it's the same machine that would have been considered a high midrange back then.
 
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Toyota learned from the disruption to their just-in-time philosophy after the tsunami and selectively built excess capacity (or forced their suppliers to do so) of certain parts including the chips they need.
JIT sure does keep the beancounters happy but will play hell with you when there's a disruption. I walked that tightrope really well when I ran the dealership parts department, but there was hell to pay when there was a backorder upstream.
 
A couple times in the past month or two I've logged into Newegg and tried to spec out a new computer, just for grins. Since I'm an AMD guy, I went to see how hot of a Ryzen I could get without blowing the bank. None were available except for the $1000 Threadrippers.

Thankfully, my current rig is still perfectly serviceable after going on nine years. When I spec'd it out then, I did my darndest to make it as obsolescence proof as possible, and so far so good. It's had a memory bump from 4G to 8G and I'm using an SSD, but otherwise it's the same machine that would have been considered a high midrange back then.

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A couple times in the past month or two I've logged into Newegg and tried to spec out a new computer, just for grins. Since I'm an AMD guy, I went to see how hot of a Ryzen I could get without blowing the bank. None were available except for the $1000 Threadrippers.

Thankfully, my current rig is still perfectly serviceable after going on nine years. When I spec'd it out then, I did my darndest to make it as obsolescence proof as possible, and so far so good. It's had a memory bump from 4G to 8G and I'm using an SSD, but otherwise it's the same machine that would have been considered a high midrange back then.
Try out pcpartpicker.com if you get a chance in the future. Does a good job weeding out compatability issues and sources from multiple vendors (including newegg). Lots of reviews as well. I mean you’re not going to find much right now of course.
 
Try out pcpartpicker.com if you get a chance in the future. Does a good job weeding out compatability issues and sources from multiple vendors (including newegg). Lots of reviews as well. I mean you’re not going to find much right now of course.
Thanks. I'll check it out. Was just doing it for grins anyway, I don't need and really couldn't justify a new rig. Just was taken aback that there weren't any processors available.
 
Appraisers have become very conservative... particularly when it comes to refinancing/cash outs. Also a lot of them are just stupid, from what I can tell... pulling comps from neighborhoods 2 miles away..... which within Indy might as well be a different state.

I've had ones come in $100k lower than expected/reasonable.... also have had ones come back $75k+ more than I expected.....
As usual, it’s a complicated issue with a lot of complicating factors, but it’s always easier for the simple minded and the have-to-be-oppressed to simply cry Racism! And the usual suspects swallow it hook, line, and sinker.

 
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