3 ms·
In my metro, the median listing price for a home just peaked. Driven by low supply, high demand - stemming from a variety of factors. I've made competitive offe
by crisdux 4y ago
In my metro, the median listing price for a home just peaked. Driven by low supply, high demand - stemming from a variety of factors. I've made competitive offers on many homes, only to be beaten by all cash offers or people putting more cash down for an appraisal gap. I get angry when I think about neighboring properties that sold for 50% less only 3 years ago, financed at 2.5% interest rates - while I must make a decision to pay 50% more and pay 7%. My wage increases during this time do not fill the gap. I feel I must accept a lower standard of living than my neighbor. This is a massive source of inequality that I feel does not get enough attention. I am quietly feeling the stress of despair and fomo in regards to my housing situation. How can a society function like this?
- nojvek 4y agoEven on a software eng salary in Seattle area, housing 40m away from city took many many years of saving to afford downpayment. As we were saving, the price went up faster than we could meet 20%. The rents also went up. It feel like the bar kept on moving faster than we could catch up. This was 5 years ago. At current >1M prices, that would not be possible. 2 bedroom rents in Bellevue are > $2500/month. Kind of nuts.
- thunkshift1 4y agoWhy the insistence on 20% down? Avoiding pmi is not worth the upfront cash
- danuker 4y agoWith so much of the tech sector going remote, how do prices still keep going up? Why is there still so muh demand? Is there anyone living in those expensive places? Or is it just speculation/investment?