Redfin is new depression app
Location: Seattle Thinking of having a kid so started looking around for a house. I just realized what a huge mistake I did by not buying a house back in Oct 2020 where houses were going for $750k and below 3% interest rates. I did not buy obviously coz of job loss fear and also wanted to live close to the office building. Also, I was single back in 2020. Now the same is going for $1.2M now at 7+% interest rates were sold at in Bothell for reference. Never realized Housing market would get this batshit crazy in a couple of years. Redfin should add a filter like “lol” #housing #seattle #mortgage
+1
Don't buy a house until you have a kid and they are 1 year old and starting to move. Kids are potatoes until 4months and after that they are just smiling potatoes until 12 months. They can be fine in 1 bedroom apartments until they are like 14months old and starting to really move around. After that you need some space and a little yard if possible. Do you have some time. Too many people try and project what they will need. Just buy what suits your life now and when that changes move and sell. In this market I would keep renting until you have to buy.
I was planning to buy this year but surely can do next year easily.
I'll have to disagree with this advice. Buying a house is a complex process with multiple uncertainties. You have to go out at odd hours to see houses. Things can be managed from home once your offer is accepted but till then you have to be on your toes. Post closing is when the real work starts. Vacating/Moving and then setting up a new house. From the router to the lawn - everything is needed to be fixed at the same time. On top of it you'll buy furniture and then assemble it. Imagine doing this with a pregnant wife or a baby. We made a conscious decision to have a fully functional house before we had a baby. Worked out really good for us. When my in-laws came over to help with the baby, extra bathrooms and space helped a lot.
Imagine this: You're not at the beach while everyone else is having a great time. You see their pictures on Instagram and feel a pang of sadness. Then, suddenly, you're jolted awake from an afternoon nap by the rumbling of a massive earthquake, and you hear news of approaching tsunami waves. In that moment, would you still feel sad about missing the beach, or would your perspective change? May be the rumbling has already started.
That’s why I always say buy now or be priced out forever. This same year same house will be 1.4 in 2024 and people who got at 1.2 at 7% will refinance it. Keep on listing to perma bears and renters.
You do realize that 10% year over year increases are an anomaly and not the usual rate of increase for real estate. It’s usually inflation + 1% over the last 100+ years. Prices are expected to grow slower than normal while wages catch up. Outside of dual tech income or staff+ housing on the east side is really unaffordable
Mkt can stay irrational longer than you can stay solvent. S&P and nasdaq had a best year in decades and tech stocks all time high. Housing can easily gain 5-10% this year. People said the same thing in 2020/21 lol.
lol .. I presume you don’t have a wife? If you know what I mean
BuscuitMan you never want to have kids? Casual sex gets boring after a while
Redfin should really have a "lol" reaction button. Some sellers are still stuck in 2021
It’s easy to say it now. During the COVID nobody knew if everyone will move out of cities permanently. And in general everyone was scared prices will collapse 1000%.
Yep people who aren’t decisive will always find an excuse to stay on the sidelines. Mkt corrected at lot of places in 2023, that was still not a bad time to get in.
Seattle area is so affordable! Anything that starts with a 1 or 2M a dream. Bay market is nuts.
I grew up on the east side. I can't afford the houses I grew up in. My parents bought multiple houses over time owning a donut shop and came to the US as refugees in the 1970s. House in Kirkland $78K (worth 1mil + today), House in Woodinville $160k (worth 1.5m + today) etc. I have a graduate degree and doubled my TC in the 2010s and can't really afford anything more than the house I bought in Lynnwood in 2017 due to appreciation spike during covid eclipsing my buying power by a lot!. I can't imagine trying to buy a house with an average or median wage around here. How could you ever afford it?
Just wait 1 more year, it’ll come down
Because you say it ? 🤣
Waiting since 1990