I bought house in bay area for 1.9 mil in March 22. I am feeling deep buyers remorse now due to flat housing market. My team is getting distributed now due to remote work and few of my colleague bought bigger/better house for 30-40% less price than what I paid with better school districts in tri-vally and Sacramento Folsom area. I am never going back to office. I love working from home because of its obvious benefits. I am not really career oriented and dont see myself climbing ladder with in-office or remote scenario above L6 at amazon. Market value of my house will never increase in next 10-15 years due to remote work(many teams becoming more scattered across US no way they are comming back, more and more people are buying house outside bay area and never planning to work in office). Now pretty much feeling stuck. TC - 350k Yoe - 7 Household tc - 550k #mortgage #housing #bayarea
Are houses depreciating that fast in value right now? How much is the estimate for your house currently?
After fees, commissions, and such, if the house hasn’t gone up 20%, he’s likely going to lose money—which was his point that he doesn’t see that happening unless we’re all forced to go back to the office and people bid up the house prices that have a shorter commute.
Losing 200K 30 years from now is a lot less than 200K today.
At least redfin is protecting your dignity by not adjusting its estimation, it is still 1.9 million if you don’t sell it.
the housing market will not take a decade to rebound
Everyone is betting on that FED will have to print money again next year. FED might be forced to stay in the current hike longer just because no one believes them.
FED painted itself in a corner. Damned if they raise rates. Damned if they don’t. They should have raised rates a few years back. But they didn’t. Now it will be more painful if they do. And if they don’t, everyone else is right.
Dont cry, if you feel you are stuck then sell it in the same price, what is the problem?
This is the dumbest shit I’ve read on here, do you know it’s going to cost 120-150k to sell a 2M house? Lol
It's okay to take the L if you're in a situation where you really don't want the house. Especially with good TC, it won't ruin your life. Moreover, it's not so black and white, OP can just brace for the next 1-2 years and then plan to sell and hope for a modest appreciation.
With 7 years of experience, you have a TC of 350K. I am not even near to it with 17 YOE. Look at the bright side of owning a house and enjoy. It’s just about how you see things!
^ This! ^
Sell it and move
He will lose 2 years of after tax income for that.
To LCOL
Lol that’s all.
Bay area will be the first to bounce back. It already started
Funny
Meanwhile... https://www.youtube.com/watch?v=2uNw85OnWn4
Never cry for what has been done past. Be happy you own a home. Earn more to compensate later
Sound advice! Always, always true.
It's a good attitude, but the OP said he's not career oriented, doesn't want to try to earn more. It's not the de facto solution to all problems. He could just sell the house.