NeptunePenguins Posted January 11 Share Posted January 11 The bolded are place that could see numbers below their current lowest since 2004. Was curious to see how Kansas City's upcoming cold snap compares to ones in the past and other NFL and sport cities. Quote Link to comment Share on other sites More sharing options...
TVScout Posted January 11 Share Posted January 11 19 hours ago, D82 said: Had the door opened for them and they shut it for the rest of us. That door that opened was Levittown. That door closed when local governments effectively outlawed building small cheap houses in the high population coastal states. Quote Link to comment Share on other sites More sharing options...
TVScout Posted January 11 Share Posted January 11 16 hours ago, AkronsWitness said: I want to know how much of this is because AirBnB ruined the housing market. Almost none. The housing market is perverted because local governments have banned construction of small cheap houses. 2 Quote Link to comment Share on other sites More sharing options...
AkronsWitness Posted January 11 Share Posted January 11 20 minutes ago, TVScout said: Almost none. The housing market is perverted because local governments have banned construction of small cheap houses. Facts. We just bought not too long ago--every single new neighborhood being built around the city starts at 450k-600k. They all have signs out from that say "Starting at 500k" There are no such thing anymore as a newer neighborhood with 250-400k houses. 1 Quote Link to comment Share on other sites More sharing options...
Malfatron Posted January 11 Share Posted January 11 If housing costs go way up but nobody can afford them are they really that high? Quote Link to comment Share on other sites More sharing options...
NeptunePenguins Posted January 12 Share Posted January 12 i thought my ex getting married just a few months after breaking up with me was nuts but my mom was watching this tv show in which this dude got marreid within 24 hours after getting to know a lady and I be like "damn that might be what happened yeah" Quote Link to comment Share on other sites More sharing options...
NeptunePenguins Posted January 12 Share Posted January 12 17 hours ago, NeptunePenguins said: The bolded are place that could see numbers below their current lowest since 2004. Was curious to see how Kansas City's upcoming cold snap compares to ones in the past and other NFL and sport cities. Someone in the general channel said something about Bemidji, Minnesota being cold af so I looked that up (I also spent time there) and while Bemidji had a bit of missing data, a site south of it recorded a high temp of -21F/-29.4C so there's that. Quote Link to comment Share on other sites More sharing options...
TVScout Posted January 12 Share Posted January 12 20 hours ago, Malfatron said: If housing costs go way up but nobody can afford them are they really that high? Yes, that is a housing bubble. 1 Quote Link to comment Share on other sites More sharing options...
AkronsWitness Posted January 12 Share Posted January 12 (edited) 42 minutes ago, TVScout said: Yes, that is a housing bubble. I always thought when housing prices go up, interest rates go down to encourage buying because the market usually becomes stale with high prices--we are in a weird spot where prices are through the roof AND interest rates are high. At least thats how it works in my pea brain. I thought this was going to stop 1-2 years ago, but here we are....still here doing it. I read that there was a forecast for rates to drop in 2024 back to 4%....Im praying for that. Refinance SZN baby. Edited January 12 by AkronsWitness Quote Link to comment Share on other sites More sharing options...
skywindO2 Posted January 12 Share Posted January 12 13 minutes ago, AkronsWitness said: we are in a weird spot where prices are through the roof AND interest rates are high That's because there's a supply issue. I think rate hikes have stopped prices from continuing to climb too fast but it'll take more time for them to come down. More realistically, I expect prices to continue to go up at a much slower rate than the last few years as wages catch up with inflation. Quote Link to comment Share on other sites More sharing options...
AkronsWitness Posted January 12 Share Posted January 12 (edited) 14 minutes ago, skywindO2 said: That's because there's a supply issue. I think rate hikes have stopped prices from continuing to climb too fast but it'll take more time for them to come down. More realistically, I expect prices to continue to go up at a much slower rate than the last few years as wages catch up with inflation. Makes sense. Talking with our realtor earlier this year he said that builders in the city (Columbus) have enough work that if they stop taking any more new jobs, they would have 4 years of home building work basically through 2027. Its such a big problem here. The city is one of the fastest growing in the country, projected to surpass 1M in population by next year and they just dont have housing for everyone. There are new neighborhoods going up everywhere outside of downtown. On my developments street alone there are 4 new neighborhoods being built (All Starting at 450k+) all with 300+ houses. I dont think it was ever something the city was expecting 10 years ago, so the infrastructure is not even close to being ready to support 1M residents and rates are still 7% Edited January 12 by AkronsWitness Quote Link to comment Share on other sites More sharing options...
adamq Posted January 12 Share Posted January 12 My son, telling me a saying he heard at school today "kill two chicks with one stick".. after some pressing, his teacher did actually say "kill 2 birds with 1 stone" so I don't know where that came from Quote Link to comment Share on other sites More sharing options...
TVScout Posted January 13 Share Posted January 13 Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted January 13 Share Posted January 13 On 1/12/2024 at 10:36 AM, skywindO2 said: That's because there's a supply issue. I think rate hikes have stopped prices from continuing to climb too fast but it'll take more time for them to come down. More realistically, I expect prices to continue to go up at a much slower rate than the last few years as wages catch up with inflation. I know what you mean, but from my perspective if I end up having to pay more in interest to own a home, the price has gone up. It just means the bank is getting a bigger cut instead of the person selling. On 1/12/2024 at 10:47 AM, AkronsWitness said: There are new neighborhoods going up everywhere outside of downtown. On my developments street alone there are 4 new neighborhoods being built (All Starting at 450k+) all with 300+ houses. I dont think it was ever something the city was expecting 10 years ago, so the infrastructure is not even close to being ready to support 1M residents and rates are still 7% If yours are like mine they're all HOA'd too, so at like $200/month fee on top of that interest rate. If that was included in mortgage interest it'd take my rate on a fairly normal sized 3 bedroom type home to much closer to 10% 1 Quote Link to comment Share on other sites More sharing options...
AkronsWitness Posted January 13 Share Posted January 13 (edited) 40 minutes ago, ramssuperbowl99 said: I know what you mean, but from my perspective if I end up having to pay more in interest to own a home, the price has gone up. It just means the bank is getting a bigger cut instead of the person selling. If yours are like mine they're all HOA'd too, so at like $200/month fee on top of that interest rate. If that was included in mortgage interest it'd take my rate on a fairly normal sized 3 bedroom type home to much closer to 10% Absolutely. $275 every 3 months in HOA just for them to tell me if I don't take down our xmas lights by Jan. 10th then I will receive a notice and my grass has to be maintained at a certain length... But we have 2 overcrowded pools and a golf course that we get no discount on compared to the general public! 🙄 When we were looking we tried our best to get into a non-HOA home that sits off the road a bit with a bigger yard/more privacy from neighbors since those homes are spaced out further....good luck. Those type of homes, despite being built in the 80s/90s were going for 500k-700k for a 3/4 bdrm. People know that those type of houses are the creme of the crop and they dont give em up for fair value. People are basically being forced into newer housing developments with HOAs because they are somehow cheaper. Edited January 13 by AkronsWitness 1 Quote Link to comment Share on other sites More sharing options...
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