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Old 01-26-2017, 05:45 PM
 
1,054 posts, read 1,049,620 times
Reputation: 567

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Quote:
Originally Posted by Rombus View Post
All housing in our area is richly priced. If I was a young person starting out I would seek out another area to live. There are many fine areas in the USA that have good economies, good life styles and do not have the high housing costs of the Seattle area.

Go East, young person! Check out fly-over country. Heck, I may do that myself when I retire. No point in squandering my IRA money on high housing costs.
Depends on if you already bought before housing skyrocketed.
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Old 01-27-2017, 03:19 PM
 
412 posts, read 389,666 times
Reputation: 228
Quote:
Originally Posted by hellopity View Post
Well, at least we aren't HK, Sydney or Vancouver BC! The least affordable places to live in 2017 - CNN.com
True.
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Old 01-27-2017, 05:38 PM
 
1,499 posts, read 1,787,332 times
Reputation: 2033
It's a joke. A true joke. I don't care if we are bringing in $500k or a million annually. The houses that they are trying to sell for $900k are not something I would pay more than $400k for. A house built in 1985, 2000 sqft and they have the gumption to ask for $900k. Who are these people that are actually paying this?

I just don't understand it. Maybe it's because we've lived in a handful of states and we know what you can buy for $900k. Considering our jobs and salaries will remain consistent no matter where we live, we definitely would never pay for what they are asking.
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Old 01-27-2017, 06:16 PM
 
412 posts, read 389,666 times
Reputation: 228
It's about the influx of money. Don't think it is in any way related to the relative utility of the residence. This is exactly what happened in the housing bubble that popped 9 years ago. It is about leverage. Some people are going to get badly hurt if they pay these prices.
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Old 01-27-2017, 07:44 PM
 
235 posts, read 271,907 times
Reputation: 407
Quote:
Originally Posted by OneTimeSEALover View Post
It's about the influx of money. Don't think it is in any way related to the relative utility of the residence. This is exactly what happened in the housing bubble that popped 9 years ago. It is about leverage. Some people are going to get badly hurt if they pay these prices.
Don't think it's really about leverage this time. Mortgage origination volume is much lower vs 10 years ago and that's despite housing prices actually being higher in many cities than pre-crisis peak. Way more all cash transactions as well.
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Old 01-28-2017, 08:12 AM
 
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,973 posts, read 82,102,147 times
Reputation: 58525
It's about supply and demand. Way overpriced in your opinion or not, multiple offers over asking price will continue to drive values up as long as people want to move here, and there are very few homes for sale. People like us are in our mid 60s and with low payments from late 1980s prices, are content to stay. For those homes that do go up for sale, there is no shortage of people making $200k and more that are happy to pay whatever it takes to live in such a desirable are with natural beauty, low crime, and great schools.
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Old 01-28-2017, 09:36 AM
 
Location: Hollywood and Vine
2,078 posts, read 2,033,936 times
Reputation: 5020
Quote:
Originally Posted by Minntoaz View Post
It's a joke. A true joke. I don't care if we are bringing in $500k or a million annually. The houses that they are trying to sell for $900k are not something I would pay more than $400k for. A house built in 1985, 2000 sqft and they have the gumption to ask for $900k. Who are these people that are actually paying this?

I just don't understand it. Maybe it's because we've lived in a handful of states and we know what you can buy for $900k. Considering our jobs and salaries will remain consistent no matter where we live, we definitely would never pay for what they are asking.
Yeah , I have to agree with you there . Like it says I have had the great privilege of living worldwide and I got here 10 years ago . I love it here but with this last lay off won't stay . VERY sad because it's a perfect fit but like you , I do not care if I had 1-2 million annually coming in I would not pay that or most of these prices for a house here . I don't have too .

I was raised in a banking family in Texas circa 1962 and I just cannot fritter away what I do have on housing alone . I've recently had to send home for the first time EVER to ask my long gone late dads estate for some extra $$ to stay afloat until we can leave and my banker is extremely suspicious over why "I need so much to live"- while here that amount - $3000 - is chump change.

As sad as I am to leave this $1400 a month 2-2 apt ( up from $1070 last year ) , reading over this thread , I have to say that there are other very desirable places with beautiful scenery with things to do where people would not think of casually plunking down 900,000 on one house unless it was just out of this world.

I just spent a good while explaining what a bidding war over a house is to my euro husband who looked at me like I was nuts .

We just didn't get here in time .

Plus my husband sustained a BIZARRE medical accident during drug testing for 3 different jobs last week. You don't even want to know . It's for another thread .. jeez o matic, I need a break.
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Old 01-28-2017, 12:56 PM
 
412 posts, read 389,666 times
Reputation: 228
Wonderful wonderful part of the country. But maybe just too popular. Unreasonable to pay this much to get out of the weather. Enjoy it, those of you who can easily afford it or are willing to be heavily mortgaged.
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Old 01-28-2017, 04:20 PM
 
Location: Alamogordo, NM
7,940 posts, read 9,583,168 times
Reputation: 5695
Plus my husband sustained a BIZARRE medical accident during drug testing for 3 different jobs last week. You don't even want to know . It's for another thread .. jeez o matic, I need a break.

Sorry to hear of that. Yikes, life can be a huge bearcat at times. And...when it rains it does seem ta pour, eh?
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Old 01-28-2017, 04:52 PM
 
Location: Hollywood and Vine
2,078 posts, read 2,033,936 times
Reputation: 5020
Quote:
Originally Posted by elkotronics View Post
Plus my husband sustained a BIZARRE medical accident during drug testing for 3 different jobs last week. You don't even want to know . It's for another thread .. jeez o matic, I need a break.

Sorry to hear of that. Yikes, life can be a huge bearcat at times. And...when it rains it does seem ta pour, eh?
YES !! As it ended up with a catheter in the ER twice in one day !!! He has to see the Uro on Monday. Its been in since last Friday morning a week ago . Holy C%*#. We don't know how it happened. Not even our reg Dr understands how it happened .
Pro tip to all men : I do not care how bad you need that job -do not "hold it " if you have more than one drug test to go through in a day . DON'T
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