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Housing markets are absolutely bananas across most of the country right now. My parents just sold their house in Raleigh and had a full price cash offer the day after it was listed. One of my close friends just bought a condo out in San Francisco ($1.3mm for 1,100 square feet) and he said that places there were getting 15-20 offers.
 
Meanwhile the accountant in me can't pull the trigger to even start looking for one myself. The interest deduction not being worth as much just really favors renting vs buying. The only reason to even consider buying in my neighborhood is fear of missing out on price appreciation. There's a huge shortage of supply driving up prices but more developers trying to develop which could cool them off. On the flip side, all these tariffs are making construction costs skyrocket, so there's a lot of different forces pulling in different directions, very hard to get a read on the situation.
 
There are definitely a ton of factors in the rent vs buy discussion. What prompted us to buy were the following:

-Desire to stay in the area and our specific house long term. We won’t be incurring realtor fees in the near term by selling.
-Opportunity for appreciation in the Triangle. Housing prices are projected to increase 3-5% annually in the near term.
-No HOA which can be a significant expense.
-Taxes are modest.
-Our discretionary and retirement savings is well funded and we don’t have student loans or other debt.
-Our house is new which will reduce near term maintenance expenses which are covered by the landlord in a rental situation.

I think it would be pretty hard to justify in a superheated market like SF or LA unless you make bucket$ money.
 
Yeah, LA is hard to gauge. HOA fees keep me out of the condo market, however there are tons of condos coming online, and if they depress prices, its possible. The HOA fees from $400 on the cheap side to $800 on the higher side really make the math rough.

On the flip side, there's just so many people with money and so little land in desirable places, it's hard to see prices coming down too much. Ultimately I think I'll end up saving for 10 years and just building my dream home from scratch, as I can probably leverage my job to get the A/E work done at a significant discount.
 
Yeah HOA fees for these high end condos are nuts. Routinely $10k+ annually and lots have NOTHING in the way of amenities. My friend’s place has a roof deck and that’s it. New apartments have pools, roof decks, dog play areas, lounges, etc.
 
Got a 4th offer. The revised first is still the best and we're accepting it.

Not a lot of room to counter, since they're offering more than asking and want to turn around quickly.
 
Got a 4th offer. The revised first is still the best and we're accepting it.

Not a lot of room to counter, since they're offering more than asking and want to turn around quickly.

Please post the love letters you received with the offers!
 
There are definitely a ton of factors in the rent vs buy discussion. What prompted us to buy were the following:

-Desire to stay in the area and our specific house long term. We won’t be incurring realtor fees in the near term by selling.
-Opportunity for appreciation in the Triangle. Housing prices are projected to increase 3-5% annually in the near term.
-No HOA which can be a significant expense.
-Taxes are modest.
-Our discretionary and retirement savings is well funded and we don’t have student loans or other debt.
-Our house is new which will reduce near term maintenance expenses which are covered by the landlord in a rental situation.

I think it would be pretty hard to justify in a superheated market like SF or LA unless you make bucket$ money.

And you got in before interest rates went up.

Bought a spot on the fringe of the hood and my HOA dues are almost as high as my mortgage.
 
it rarely makes sense to buy a house in LA imo
 
Almost forgot to mention that my fiancée got me season tickets to Deacs football this year for my birthday! Pumped to see some games in person after living outside of NC for the last 10 years.
 
So I rarely eat sweets, but had a sugar craving around 3 PM and bought a bag of peanut butter M&Ms. Somehow, I did not realize these even existed, and wow, they are incredible - better than Recees Pieces for sure.

Everything would be fine, except HR bought everyone Klondike bars to help "stay cool" in the heat and came around around 4. I couldn't resist and ate a Heath flavored one. Basically, I now have a brutal headache and think I have diabeetus.
 
Man, I did the free month of YouTube Premium so I could watch Cobra Kai and had gotten used to not having to sit through ads before watching anything. Just ended yesterday, so back to Wells Fargo and State Farm for 30 seconds anytime I want to watch anything you people link to
 
666956854bcd237cc7924c1d8feda6ab.jpg


For your foot fetish edification.
 
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