(05-03-2022 10:16 AM)JMUDunk Wrote:  

(05-03-2022 09:30 AM)EverRespect Wrote:  

(05-03-2022 08:39 AM)JMUDunk Wrote:  They’re gonna get burned, as will the banks (again) and eventually all of us.

Home prices through the roof, housing “shortage”, interest rates once at 2.25% now more than double that and gonna keep climbing.

People buying into these $600,000 houses @5.75% when they’re really worth about $325,000 are gonna get stuck yet again. Same as we saw in around 1987?, 2008 and soon to be again.
15 months. Gee, what changed?




Y’all starting to figure this out yet?







Suckers

Funny thing is vacant land itself is actually pretty cheap right now. If I didn't have 3 kids, I'd seriously consider buying land and living in a trailer until economic conditions allow for building.

Buy the land.
They’ll grow more trees at some point. Can’t really produce more land.

We seriously considered buying a canal front lot(s) in this weird, off the beaten path, never heard of wasteland with wild horses and not much else in a place called Corolla back in ‘92-3 or so.
Water access lots for 16,500-25,000 or so…

They’d go for 10x’s or more today.

Dum de Dum Dum

I'm looking at 20 acres in King & Queen County for ~$50k. It's already in the woods. Close enough to go into the office (Newport News) or find a job in Richmond. I just don't have the extra cashflow right now to finance the purchase, sit on the land, and pay taxes on it. If I had the cash to buy it with no mortgage, I would. Only place I have that kind of cash is my 401k. Not worth the risk. I've even bounced around the idea of investing in a sawmill and selling off the lumber. Just too much debt for this economy.

(05-03-2022 11:28 AM)EverRespect Wrote:  

(05-03-2022 10:16 AM)JMUDunk Wrote:  

(05-03-2022 09:30 AM)EverRespect Wrote:  

(05-03-2022 08:39 AM)JMUDunk Wrote:  They’re gonna get burned, as will the banks (again) and eventually all of us.

Home prices through the roof, housing “shortage”, interest rates once at 2.25% now more than double that and gonna keep climbing.

People buying into these $600,000 houses @5.75% when they’re really worth about $325,000 are gonna get stuck yet again. Same as we saw in around 1987?, 2008 and soon to be again.
15 months. Gee, what changed?




Y’all starting to figure this out yet?







Suckers

Funny thing is vacant land itself is actually pretty cheap right now. If I didn't have 3 kids, I'd seriously consider buying land and living in a trailer until economic conditions allow for building.

Buy the land.
They’ll grow more trees at some point. Can’t really produce more land.

We seriously considered buying a canal front lot(s) in this weird, off the beaten path, never heard of wasteland with wild horses and not much else in a place called Corolla back in ‘92-3 or so.
Water access lots for 16,500-25,000 or so…

They’d go for 10x’s or more today.

Dum de Dum Dum

I'm looking at 20 acres in King & Queen County for ~$50k. It's already in the woods. Close enough to go into the office (Newport News) or find a job in Richmond. I just don't have the extra cashflow right now to finance the purchase, sit on the land, and pay taxes on it. If I had the cash to buy it with no mortgage, I would. Only place I have that kind of cash is my 401k. Not worth the risk. I've even bounced around the idea of investing in a sawmill and selling off the lumber. Just too much debt for this economy.

About the Sawmill, I was thinking about that also. I'm just not sure.

Soon we'll be living in stone houses like the Flintstones.

(05-03-2022 12:11 PM)Bear Catlett Wrote:  Soon we'll be living in stone houses like the Flintstones.

in ~8.4 yrs., nuts zongo’s gonna be in #costa … I don’t give a shite if it’s in a mud hut …

@bestSaltOnThePlanet

(05-03-2022 12:11 PM)Bear Catlett Wrote:  Soon we'll be living in stone houses like the Flintstones.

A game changer if true. No need for gasoline or EVs since the background will move for you.

(05-03-2022 09:57 AM)b2b Wrote:  

(05-03-2022 09:25 AM)Niner National Wrote:  Im about to start building a house unfortunately. In the plus side my builder is a client of mine and he’s building it with not a lot of markup for himself.

I got the land for a steal (water front 15 mins from downtown Charlotte for $70k).

In all I’ll have $400,000ish in it, and it should appraise for $600k at current market conditions.

Can you not wait?

You’re assuming prices will drop soon and so will interest rates. If they dont then what do I do? Live in an apartment for $2000/mo indefinitely?

My gf and I make $400k + combined income. Even if the market goes down, and I go underwater (unlikely IMO), it’s not such a high price that we’d be ******. We can afford (and I by myself can afford) the mortgage payment easily. It’s not worth waiting.

(05-03-2022 12:38 PM)miko33 Wrote:  

(05-03-2022 12:11 PM)Bear Catlett Wrote:  Soon we'll be living in stone houses like the Flintstones.

A game changer if true. No need for gasoline or EVs since the background will move for you.

The USA in 2022 has the best housing stock of any nation in history.

That's an indisputable fact (although Canada and Australia are close).

The average American home is twice the size of the average European home. With considerably more modern plumbing & electrical & insulation.

Anyone crying about the lack of quality homes in the USA simply has no frame of reference.

(05-03-2022 12:46 PM)Niner National Wrote:  

(05-03-2022 09:57 AM)b2b Wrote:  

(05-03-2022 09:25 AM)Niner National Wrote:  Im about to start building a house unfortunately. In the plus side my builder is a client of mine and he’s building it with not a lot of markup for himself.

I got the land for a steal (water front 15 mins from downtown Charlotte for $70k).

In all I’ll have $400,000ish in it, and it should appraise for $600k at current market conditions.

Can you not wait?

You’re assuming prices will drop soon and so will interest rates. If they dont then what do I do? Live in an apartment for $2000/mo indefinitely?

My gf and I make $400k + combined income. Even if the market goes down, and I go underwater (unlikely IMO), it’s not such a high price that we’d be ******. We can afford (and I by myself can afford) the mortgage payment easily. It’s not worth waiting.

Building a home with a girlfriend is a bolder move than building at these prices when the market is going to tank within a year, Cotton.

(05-03-2022 09:29 AM)fsquid Wrote:  

(05-03-2022 08:57 AM)umbluegray Wrote:  

(05-03-2022 08:29 AM)rath v2.0 Wrote:  Went to Home Depot for sheets of 1/2" BCX plywood for a project around the house. Last time I bought this exact sheathing was early 2020 and at this same store it was $18 per 4x8 sheet. It's $57 a sheet today.

How in the hell is anyone in their right mind building homes right now?

I must be getting old.

We bought a house back in 2019 that needed significant repair. We've been gradually doing the work ourselves (and I've realized I've gotten too old to keep doing this, but that's another topic).

Believe me... I've been watching lumber prices rise over the past 2.5 years.

Our house has a pool. Last year I paid $89 for a 35 lb bucket of chlorine tabs. That was a slight increase from the year before. This year that same 35 lb bucket is $199.

From $89 to $199... that's 123.6% increase.

Given that a 40lb bag of pool salt is $8 it makes converting to a salt system very enticing. Of course, the Salt Chlorine Generator system we need for our pool is $1,300.

I love the saltwater. Converted right before the pandemic.

Thx for sharing that you're happy with it. I understand the maintenance is different than for a chlorinated pool. Which system maintenance routine do you prefer?

(05-03-2022 03:21 PM)umbluegray Wrote:  

(05-03-2022 09:29 AM)fsquid Wrote:  

(05-03-2022 08:57 AM)umbluegray Wrote:  

(05-03-2022 08:29 AM)rath v2.0 Wrote:  Went to Home Depot for sheets of 1/2" BCX plywood for a project around the house. Last time I bought this exact sheathing was early 2020 and at this same store it was $18 per 4x8 sheet. It's $57 a sheet today.

How in the hell is anyone in their right mind building homes right now?

I must be getting old.

We bought a house back in 2019 that needed significant repair. We've been gradually doing the work ourselves (and I've realized I've gotten too old to keep doing this, but that's another topic).

Believe me... I've been watching lumber prices rise over the past 2.5 years.

Our house has a pool. Last year I paid $89 for a 35 lb bucket of chlorine tabs. That was a slight increase from the year before. This year that same 35 lb bucket is $199.

From $89 to $199... that's 123.6% increase.

Given that a 40lb bag of pool salt is $8 it makes converting to a salt system very enticing. Of course, the Salt Chlorine Generator system we need for our pool is $1,300.

I love the saltwater. Converted right before the pandemic.

Thx for sharing that you're happy with it. I understand the maintenance is different than for a chlorinated pool. Which system maintenance routine do you prefer?

Salt. Other than doing the normal cleaning you do for any pool (Surface, Skimmer, etc.) It's mainly checking the chemistry every week. Do it with coffee on SAturday mornings when we aren't at a tennis court. Now, I have a screened one, so maybe the maintenance you've heard about would be different if I was in the open.

(05-03-2022 03:13 PM)rath v2.0 Wrote:  

(05-03-2022 12:46 PM)Niner National Wrote:  

(05-03-2022 09:57 AM)b2b Wrote:  

(05-03-2022 09:25 AM)Niner National Wrote:  Im about to start building a house unfortunately. In the plus side my builder is a client of mine and he’s building it with not a lot of markup for himself.

I got the land for a steal (water front 15 mins from downtown Charlotte for $70k).

In all I’ll have $400,000ish in it, and it should appraise for $600k at current market conditions.

Can you not wait?

You’re assuming prices will drop soon and so will interest rates. If they dont then what do I do? Live in an apartment for $2000/mo indefinitely?

My gf and I make $400k + combined income. Even if the market goes down, and I go underwater (unlikely IMO), it’s not such a high price that we’d be ******. We can afford (and I by myself can afford) the mortgage payment easily. It’s not worth waiting.

Building a home with a girlfriend is a bolder move than building at these prices when the market is going to tank within a year, Cotton.

Eh it’s all in my name only and we have been together for 16 years, so not exactly what you’re thinking.

Really don’t see the market tanking as much as I see it simply slowing down. Charlotte is still exploding in population and people have to live somewhere.

Water front property is also traditionally more insulated from property crashes because there is a very finite amount of it.

I need to replace my 15 year old privacy fence on one side of my house, 250 pickets. When I built it I think the pickets were 1.99, maybe 2.25 apiece, They're now right at or just over 4 bucks a pop. I haven't checked it that much but if I need to replace 2x4's and posts it could get much more expensive.

(05-03-2022 12:11 PM)Bear Catlett Wrote:  Soon we'll be living in stone houses like the Flintstones.

LOL, they have those in the Hill Country around San Antonio where there was a quarry. They have survived from a hundred plus years ago and are found throughout the area.

(05-03-2022 09:25 AM)Niner National Wrote:  Im about to start building a house unfortunately. In the plus side my builder is a client of mine and he’s building it with not a lot of markup for himself.

I got the land for a steal (water front 15 mins from downtown Charlotte for $70k).

In all I’ll have $400,000ish in it, and it should appraise for $600k at current market conditions.

mountain island lake?

~$330k for a house right now is crazy good.

(05-03-2022 12:46 PM)Niner National Wrote:  

(05-03-2022 09:57 AM)b2b Wrote:  

(05-03-2022 09:25 AM)Niner National Wrote:  Im about to start building a house unfortunately. In the plus side my builder is a client of mine and he’s building it with not a lot of markup for himself.

I got the land for a steal (water front 15 mins from downtown Charlotte for $70k).

In all I’ll have $400,000ish in it, and it should appraise for $600k at current market conditions.

Can you not wait?

You’re assuming prices will drop soon and so will interest rates. If they dont then what do I do? Live in an apartment for $2000/mo indefinitely?

My gf and I make $400k + combined income. Even if the market goes down, and I go underwater (unlikely IMO), it’s not such a high price that we’d be ******. We can afford (and I by myself can afford) the mortgage payment easily. It’s not worth waiting.

yeah you're good. I don't know what you're borrowing at but ~3% i use other peoples money but ~6% i'd use my own money, and i'm assuming you probably have enough sacked away to pay cash.

Talk about sticker shock $5.29 for diesel fuel this morning. Gasoline is back to $4 and all our reserves are being sucked dry. Ol Joe what a hero you are.

(05-03-2022 10:08 AM)JMUDunk Wrote:  

(05-03-2022 09:21 AM)stinkfist Wrote:  this is the why in stink-speak…

when the USD carries differing weight based on geo and a mass exodus occurs fleeing the obese, the bloviated swoop upon their next prey…

cost avg. capitalism…

Not sure if I’m extraordinarily proud, extremely worried, or plum crazy that I understood that perfectly…

May God have mercy on my soul.

Hey Dunk, don't go patting yourself on the shoulder. Sometimes, I have to go and check if it was you or Stink who posted. You two must be related...or went to the same high school. Hee, hee.

(05-03-2022 12:37 PM)stinkfist Wrote:  

(05-03-2022 12:11 PM)Bear Catlett Wrote:  Soon we'll be living in stone houses like the Flintstones.

in ~8.4 yrs., nuts zongo’s gonna be in #costa … I don’t give a shite if it’s in a mud hut …

@bestSaltOnThePlanet

Hmmm, I don't know Stink, I hear Costa is getting pretty picky. You should put your papers in right now because they might get much more exclusive later.

(05-04-2022 08:18 AM)TigerBlue4Ever Wrote:  I need to replace my 15 year old privacy fence on one side of my house, 250 pickets. When I built it I think the pickets were 1.99, maybe 2.25 apiece, They're now right at or just over 4 bucks a pop. I haven't checked it that much but if I need to replace 2x4's and posts it could get much more expensive.

Why don't you just use pallets, in some places they're free.

(05-04-2022 01:26 PM)olliebaba Wrote:  

(05-04-2022 08:18 AM)TigerBlue4Ever Wrote:  I need to replace my 15 year old privacy fence on one side of my house, 250 pickets. When I built it I think the pickets were 1.99, maybe 2.25 apiece, They're now right at or just over 4 bucks a pop. I haven't checked it that much but if I need to replace 2x4's and posts it could get much more expensive.

Why don't you just use pallets, in some places they're free.

I don't think he's Homeless.