Current Events > Wowsa the apartment/housing market is on fire right now.

(+) Yeah! (+)

At least in the area I was looking at. Seems like there are more people wanting to move into this city than there are places.

After like 2 months of not being able to either find something that matches our needs, or losing out to the first people to make contact, finally got a new lease on a better apartment. Was starting to get a bit stressed given the move out date of my current apartment coming up.

We contacted them within an hour of the listing going up, and they had 6 people contact interest in it within the end of the day and if it wasn't for us being able to immediately sign for the lease he'd have moved on from us to the next in line.

Glad we fuckin got there first, lmao.

The rent is Too Damn High ... in my city

specs?

The area where I live has cooled off a bit since, but I swear almost every house that went up for sale nearby was under contract within a day or two last year.

Yeah, unlike mine that's controlled by Section 8, they can raise their rent as high as they please.

I am by no means a realtor but I don't think your supposed to be buying the apartment while it's on fire.

I saw this in my nextdoor feed this morning

https://gamefaqs.gamespot.com/a/user_image/4/2/2/AAAlB_AADBN-.png

Housing market on fire is right.

yunalenne10 posted...

they can raise their rent as high as they please.

they raised NY rent. in retaliation of losses due to the pandemic.
i don't have to fear massive rental increases. if my roommate can hit retirement age.

DrizztLink posted...

I am by no means a realtor but I don't think your supposed to be buying the apartment while it's on fire.

oh shit, that makes sense.

theAteam posted...

I saw this in my nextdoor feed this morning

man I'm glad it wasn't THAT bad here, jesus christ lol

Have you been asleep for 3 years

Buying a home (with intent to keep) is the worst thing you can do with your money right now.

TheGoldenEel posted...

Have you been asleep for 3 years

I literally haven't needed to move since 2018, so yes I guess.

Market has been on fire for so long, but I wish it would just burn down already

I bought right when the interest rates started increasing.. got a house for 500, comps are now 600 after 1 day listed, with 1% higher interest rates -- it's crazy

this was 1 month ago btw

Billyionaire posted...

Buying a home (with intent to keep) is the worst thing you can do with your money right now.

People thought I was stupid to take out half my 401K to get a house 5 years ago. Yes, I paid a penalty on my taxes, but my current equity in my house FAR makes up for it. Also, no one can jack up the price of a mortgage.

kelemvor posted...

People thought I was stupid to take out half my 401K to get a house 5 years ago. Yes, I paid a penalty on my taxes, but my current equity in my house FAR makes up for it. Also, no one can jack up the price of a mortgage.

Now they probably think you're Nostradamus

Yeah its kind of nuts to see the exact same type of house that we bought in November being listed for $150k more. Im keeping an eye out to see what it will actually sell for. But I have a feeling it may be over listing based on what Ive seen.

I closed today, putting 20 percent down hurts but rather do that than give my slumlord more money.

I sort of wish my parents would downsize during this mess. They could probably get $1.5+ for their place with this market. Then again, I will probably move back there at the end of this lease because they literally raised my effing rent to $1700/month. Their reason? Everyone else is doing it.

In less than 3 years my house value went up almost 150k.

It would be great to sell! But then I couldn't afford another house.

Yeah, I paid 190k for my 3br/2.5ba 1500 sqft townhouse almost 4 years ago now.

One with the same floor plan in my neighborhood sold for 400k just a couple weeks ago

I'm trying to apartment hunt (via Section 8), it hasn't been fun.

Already 50 days down of the 120 we get to use it or lose it.

i've accepted that i'll be living in a relatively small condo if i ever want to own in the city proper or even the 2 suburb radius outside that proper

Billyionaire posted...

Buying a home (with intent to keep) is the worst thing you can do with your money right now.

granted I bought mid 2020 when the market was better but Im curious how you think buying a spot paying 2.5 for everything is worse than renting for 2.2.