You are not logged in. Please register or login.
- Topics: Active | Unanswered
Re: Buying a house fucking sucks!!!
That's a fucked up situation
Its fucked here in Australia too:
* median house prices have risen 340% since 1990.
* Weekly earnings have gone up by 87% in the same time frame. So what we earn hasn't even doubled yet house prices have more than trebbled.
* 37.7% per cent of median weekly family income will now be required to service the average home loan. (and that was in november theres been more rate rises since).
* New buyers need around $40,000 saved up before they can even enter the market.
Don't worry, those statistics will be a memory within a year. Your country is about to face a reality check.
Re: Buying a house fucking sucks!!!
Our economy doesn't depend as much on the US as it used to. I can't see housing prices falling in Canada until oil prices decline and most of the oil is out of Alberta (about 30 years) and the North Atlantic (unknown at this point). Sure, the US buys a lot of our oil, but that's not going to change in the short term, recession or not. Our economy as a whole might suffer, but with demand for oil continually rising, oil companies will constantly be hiring people to drill oil faster and pay them ridiculous salaries, causing the cost of living to rise for everyone else.
Re: Buying a house fucking sucks!!!
Our economy doesn't depend as much on the US as it used to. I can't see housing prices falling in Canada until oil prices decline and most of the oil is out of Alberta (about 30 years) and the North Atlantic (unknown at this point). Sure, the US buys a lot of our oil, but that's not going to change in the short term, recession or not. Our economy as a whole might suffer, but with demand for oil continually rising, oil companies will constantly be hiring people to drill oil faster and pay them ridiculous salaries, causing the cost of living to rise for everyone else.
Agreed, but a domino effect is inevitable. Canada will eventually feel the sting of a failing US economy. It depends on how Canada reacts to the crisis regarding how bad you might suffer from it.
- DoubleTalkingJive
- Rep: 74
Re: Buying a house fucking sucks!!!
My wife and i have been looking since december and prolly close to 50 or 60 properties and there has been about a half dozen that we've really liked...
but
whenver we go to put an offer on the fucking thing sells before we get a chance
in 2 cases where we've put an offer in we've been out bid, the most recent was today and we offered asking price with a condition on inspection...thats all
some fucking investor came in offered $5000 over asking and no conditions, like how can i win against that? thing is the house went on the market only yesterday...its not fair these fucking real estate agents shouldnt be able to buy house jsut to turn around and flip them, if its worth more they should actually tell their client that its worth more, they are driving real estate up and screwing over the small guy like me
I'm so bummed out right now its not funny...and the best part we're looking at 2 more tonight
but i mean really one house we looked at last time it sold was in 2001...in 2008 the value had doubled, that ain't fucking right the gov't should step in and regulate this
That's exactly how it was here when me and my husband were house hunting in 2000. It was a major sellers market, so much so that people that were selling their house without real estate were actually having people walk into their house and write down a bid on a sign in sheet, can you believe that!!! I was disgusted and then our real estate agent was able to get us in to see a house first in the town we wanted.
The woman was having a house built and needed to wait a couple months and since we were living in my parents basement at the time, we were willing to wait 8 months, plus she didn't want alot of people walking through her house so we lucked out big time.
Now here it's a buyers market but houses aren't selling at all really. The prices are sky high, higher then they were in 2000 but no way near the bidding wars like it was.
Get this, a house that is one house away from me is up for sale, the real estate agent had a key and thought the owner wasn't home to show this couple the house, they walk in and the owner is dead in the bathroom from a heart attack. Can you believe that. So sad and so fucked up for that couple as well as the real estate agent all at the same time.
Re: Buying a house fucking sucks!!!
Don't worry Neemo, the house you find will be the house you wanted, so in the end I'm sure it'll work out positive.
As for the Investors, it'll probably come back to bite them in the ass. The same thing happened here in the US. People would buy a house, rent it for a year or two (or keep it vacant) then flip it & resell at a higher rate. Only problem is some probably didn't see when this housing bust would finally come, so they might have had 10 houses at the time of the bust, unable to sell them, certainly not at a higher value. As for paying a 40 yr mortgage, I look at my parents (Granted my future outlook may not be so well as the past 30 years they had) but they bought in like 1970, to them, their mortgage was probably high, but after 20 years the monthly payments were almost nothing. I don't know what they paid monthly but it was something like $30,000 for the house. So, in 20+ years your mortgage payment will not be so high, because (hopefully) you're salary will increase. Unless you live in America, where you salary will go up about 3% a year, but the value of the dollar will drop about 10% a year ;-)
Re: Buying a house fucking sucks!!!
place any money you have anywhere BUT in the USA,
or bring it down here....do a google search for property in SA....Cape Town in particular...
to give you an indication....a house that Axl lives in....in an equivalent suburb....would cost you about US$500.000...and chances are pretty good that George Clooney would be your neighbour down here too...
Re: Buying a house fucking sucks!!!
We're having a hard time getting a mortgage though, and we have what it is considered "good" credit, on the verge of "excellent." The mortgage lenders are so strict now, there's no way the housing market is gonna recover. If I'm having a hard time getting a mortgage, people on the bubble don't have a chance.
Re: Buying a house fucking sucks!!!
My only advice to anyone young out there is STAY AWAY FROM PERSONAL DEBT like credit cards, student loans, car loans, etc. If you can't pay for it, don't buy it. America has built a complete house of cards economy on the Illusion of prosperity when in reality the majority of Americans are in debt up to the eyeballs. It is disgusting and will lead to the destruction of our economy and way of life.:flame:
Re: Buying a house fucking sucks!!!
My only advice to anyone young out there is STAY AWAY FROM PERSONAL DEBT like credit cards, student loans, car loans, etc. If you can't pay for it, don't buy it. America has built a complete house of cards economy on the Illusion of prosperity when in reality the majority of Americans are in debt up to the eyeballs. It is disgusting and will lead to the destruction of our economy and way of life.:flame:
amen...my debt ratio is so high i'm having a hard time finding a decent price range for purchasing a house...so we're gonna buy small and upgrade after we get some equity....but its hard, debt sucks too
Re: Buying a house fucking sucks!!!
madagas wrote:My only advice to anyone young out there is STAY AWAY FROM PERSONAL DEBT like credit cards, student loans, car loans, etc. If you can't pay for it, don't buy it. America has built a complete house of cards economy on the Illusion of prosperity when in reality the majority of Americans are in debt up to the eyeballs. It is disgusting and will lead to the destruction of our economy and way of life.:flame:
amen...my debt ratio is so high i'm having a hard time finding a decent price range for purchasing a house...so we're gonna buy small and upgrade after we get some equity....but its hard, debt sucks too
I've got some debt, but it's hard to avoid. Student loans? How the hell are you supposed to pay for college? It's not affordable for most people. My credit report is clear, so the "pros" don't see a problem with my debt, but I have more than I like.
