Alcun Atirutan BBS

Was discussing house-buying with my dad and it sounds like it may already be too late to not spend an outrageous fortune to acquire one.

@Moon Isn't it always like that? Everyone was crying like babies about 2008 "crisis", but even the houses only settled by 30% off an absurd peak a year before. I remember that because mine was underwater and I sold it as soon as it recovered in 2011.

@stuff we were in another bubble because nothing really got fixed, but now investment firms are buying them so they're not going to default so the prices aren't going to normalize probably.

@Moon Indeed, perhaps I spoke too soon. I checked at Zillow (which was very accurate for many years for me, even if some people like to mock its "algorithm"), and my house jumped 60% since 2017. That is definitely not normal and you're at disadvantage buying right now, as you said. I'm just wondering if the general inflation spilling into those. I saw other things getting very expensive recently, such as lumber and agriculture products.

@stuff I want a three car garage, one for my car and two for my projects.

@Moon @stuff if you just want garages maybe you should just buy a self-storage business

@hakui @stuff sometimes they have power in them, sometimes they don't. need power and internet.

@Moon @hakui Did you consider what the electricity bill is going to be? If you're going to mine 10grains in your garage in Tucson heat, it can get old very fast, at residential rates.

@stuff @Moon the climate controlled ones are indoors so you can't park your car in them but

@hakui @Moon I know a gentleman who lives in the area north of Tanque Verde Rd., he has a detached stable. Not sure if it's within your budget, but they seem like having relaxed rules there and you can easily build a free-standing workshop structure.

@stuff @Moon Mine crashed a bit harder than that, but I bought it about a month before it crashed here, and it dropped 50% and took about 10 years to recover back to its original level. (185k down to about 120k) This area of colorado had a delayed crash though. Because our natural gas industry was booming, our housing held its value while the rest of the country crashed, but as soon as Gov Ritter passed the oil and gas regulations, everything here crashed harder.

@kazriko @Moon Mine was within commuting distance of SV and SF, so it went from 300k to 200k. Unfortunately, it was my first house and my loan conditions were extremely disadvantageous with zero down. I just barely got rid of PMI in 2006 or about that. But the refi was obviously postponing the break-even. So I had to become a landlord for a few years. There was basically no other way aside from a personal bankruptcy.