2023 Real Estate Observations (Boston, Lynn, Newton: comparable, sink, agents)

[jayrandom]

Originally Posted by massnative71

Not sure your point exactly? The bailing out of individuals and corporations from the consequences of their own reckless behavior, has (2008 was no exception) contributed substantially to the national debt. And it's also indisputable the consequences our debt has on everything, from inflation to our economic future and ability to maintain things like a safety net and a strong military.

You brought up the recent default crisis, which it seems you did not understand. It is a political event that happened for the reasons I mentioned.

That is separate from the national debt, which you seemed to be implying is the result of people spending too much on housing. Certainly the debt is something to be worried about, but focusing on individual homeowners is not going to produce a substantial change. It's the equivalent of the moral panic over plastic straws.

Originally Posted by redplum33

Not really a fair analogy. It wouldn't be appropriate to single out specific fat people and make derogatory comments.

We're talking about houses. Houses that some people think the buyer paid too much for.

You aren't criticizing the houses you are criticizing the people who bought the houses. Not only that, there seems to be a legion of people who do further research on those people, trying to find just about as much about their financial situation as is available in public record.

A better analogy would be that you aren't just criticizing fat people, you are waiting for them to take out their trash and figuring out what they've been eating so that you can feel even more justified in your criticism.

I can't do anything to stop you, as you don't seem to think your behavior in this regard is antisocial, either because you think you are criticizing "the house", that the records are publicly available and so fair game, or maybe because you think are providing a valuable public service that will be the difference between national economic collapse and fiscal security.

My main question still remains, "is the choice to overpay for a house all that irrational to the people making it". The options right now are still:

1) Overpay
2) Continue renting
3) Move

[matrix5k]

Originally Posted by jayrandom

You brought up the recent default crisis, which it seems you did not understand. It is a political event that happened for the reasons I mentioned.

That is separate from the national debt, which you seemed to be implying is the result of people spending too much on housing. Certainly the debt is something to be worried about, but focusing on individual homeowners is not going to produce a substantial change. It's the equivalent of the moral panic over plastic straws.



You aren't criticizing the houses you are criticizing the people who bought the houses. Not only that, there seems to be a legion of people who do further research on those people, trying to find just about as much about their financial situation as is available in public record.

A better analogy would be that you aren't just criticizing fat people, you are waiting for them to take out their trash and figuring out what they've been eating so that you can feel even more justified in your criticism.

I can't do anything to stop you, as you don't seem to think your behavior in this regard is antisocial, either because you think you are criticizing "the house", that the records are publicly available and so fair game, or maybe because you think are providing a valuable public service that will be the difference between national economic collapse and fiscal security.

My main question still remains, "is the choice to overpay for a house all that irrational to the people making it". The options right now are still:

1) Overpay
2) Continue renting
3) Move

This 100%. Couldn't have said it better!

[msRB311]

Well the people who chose to over pay are keeping the prices the way they are. If there was some sort of revolt against paying 100k over asking maybe prices would normalize again. Plenty of people weren't thrilled to pay 100k over asking but they did it anyways

[Saguarogirl507]

Originally Posted by jayrandom

My main question still remains, "is the choice to overpay for a house all that irrational to the people making it". The options right now are still:

1) Overpay
2) Continue renting
3) Move

We chose to over pay in order to move back to Mass. We paid $340,000 for an over 55 condo in western Mass. That is high for out here but we had no choice. We had to get back to Mass. We could not afford anything east of here. So we bit the bullet. Are we happy about it? We are making peace with it. We have 2 bedrooms and 2 baths and a garage in a recently built condo complex.

[redplum33]

Originally Posted by redplum33

This thread is for posting real estate observations (see thread title). If you disagree with an observation, state why. But it's not your place to tell others which observations they can or cannot post.

Originally Posted by jayrandom

There’s a difference between worrying about the obesity epidemic and posting pictures of specific fat people and saying “boy, I’d never let myself get that disgusting”. This thread has recently veered so far into that the latter that it’s become hard not to say something.

Originally Posted by redplum33

Not really a fair analogy. It wouldn't be appropriate to single out specific fat people and make derogatory comments.

We're talking about houses. Houses that some people think the buyer paid too much for.

Originally Posted by jayrandom

You aren't criticizing the houses you are criticizing the people who bought the houses. Not only that, there seems to be a legion of people who do further research on those people, trying to find just about as much about their financial situation as is available in public record.

A better analogy would be that you aren't just criticizing fat people, you are waiting for them to take out their trash and figuring out what they've been eating so that you can feel even more justified in your criticism.

I can't do anything to stop you, as you don't seem to think your behavior in this regard is antisocial, either because you think you are criticizing "the house", that the records are publicly available and so fair game, or maybe because you think are providing a valuable public service that will be the difference between national economic collapse and fiscal security.

My main question still remains, "is the choice to overpay for a house all that irrational to the people making it". The options right now are still:

1) Overpay
2) Continue renting
3) Move

Why is this being directed at me?

I have not done any of those things. I am simply saying that one of our posters doesn't get to decide which 2023 real estate observations can or cannot be posted.

There was even a new real estate thread started because they didn't like some of the 2023 real estate observations being posted here. This is extremely childish behavior, IMO.

[jayrandom]

Originally Posted by redplum33

Why is this being directed at me?

I have not done any of those things. I am simply saying that one of our posters doesn't get to decide which 2023 real estate observations can or cannot be posted.

There was even a new real estate thread started because they didn't like some of the 2023 real estate observations being posted here. This is extremely childish behavior, IMO.

It’s not being directed at you. Poor use of pronouns on my part. I am sorry.

And if you’ve seen, no one has been able to decide which observations aren’t allowed. We just say “this is antisocial” and then move on.

[redplum33]

jay, I agree with you that there are 3 options (overpay, continue renting, move) right now. But people should be allowed to express their frustrations about only having those 3 options.

[massnative71]

Originally Posted by jayrandom

You brought up the recent default crisis, which it seems you did not understand. It is a political event that happened for the reasons I mentioned.

That is separate from the national debt, which you seemed to be implying is the result of people spending too much on housing. Certainly the debt is something to be worried about, but focusing on individual homeowners is not going to produce a substantial change. It's the equivalent of the moral panic over plastic straws.

There is no part of it I do not understand, sir. You really think we would have been discussing default if our debt was still 50% of the GDP, the way it was not even two decades ago? Now it is significantly LARGER THAN OUR ECONOMY.

[massnative71]

Originally Posted by jayrandom

My main question still remains, "is the choice to overpay for a house all that irrational to the people making it". The options right now are still:

1) Overpay
2) Continue renting
3) Move

There may be more or fewer options, depending on the buyer. Some of those additional options could include remaining in the home one already owns, staying with family or roommates, or simply lowering one's standards (condos don't seem as prone to the overbidding craze, for example). "Moving" or "Continuing renting" may not be feasible for all. And the best option out of those, will change from person to person.

[massnative71]

Originally Posted by msRB311

There are plenty of people who also choosing not to spend 100k over asking on homes. I know folks who wanted to move post 2020 and they said forget it decided to stay put after seeing what they'd be paying.

Originally Posted by msRB311

Well the people who chose to over pay are keeping the prices the way they are. If there was some sort of revolt against paying 100k over asking maybe prices would normalize again. Plenty of people weren't thrilled to pay 100k over asking but they did it anyways

This to both. A big part of the problem is the increasing number of those treating real estate as an investment vehicle vs. a place to live. We also saw that in the 2000s and it didn't end well, and likewise hurt a lot of people who weren't even direct participants.