I remember when 7% was good.
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wrote on 5 May 2023, 12:56 last edited by
A regular home wasn't over $300,000, though...
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wrote on 5 May 2023, 13:17 last edited by
I’m just waiting for prices to drop. Hasn’t happened much yet.
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wrote on 5 May 2023, 13:19 last edited by
Still pent-up demand, but with real wages down, I don't see how people can afford what they want. I think as inventory increases and rates stay high, prices will come down. More in some areas than others.
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wrote on 5 May 2023, 13:21 last edited by
I’m figuring I’ll have to resign my lease one more time.
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wrote on 5 May 2023, 13:23 last edited by
I think we're idiots in Louisiana. Land in some parishes is still fairly reasonable. Keep the value of a home below a certain amount and there is NO property tax. I don't think we tax 401a government pensions, either.
What we could do with a bit of leadership....
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wrote on 5 May 2023, 13:53 last edited by
@jon-nyc said in I remember when 7% was good.:
I’m just waiting for prices to drop. Hasn’t happened much yet.
It's hard to see any prices drop, even with basic economics and demand decreasing.....don't tell my Econ 101 professor I said that. But houses, Big Macs, groceries... I just don't see the prices retracting to where they "should" be.
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@jon-nyc said in I remember when 7% was good.:
I’m just waiting for prices to drop. Hasn’t happened much yet.
It's hard to see any prices drop, even with basic economics and demand decreasing.....don't tell my Econ 101 professor I said that. But houses, Big Macs, groceries... I just don't see the prices retracting to where they "should" be.
wrote on 5 May 2023, 14:03 last edited by@89th said in I remember when 7% was good.:
I just don't see the prices retracting to where they "should" be.
Over the long-ish term (5 years?), have housing prices ever dropped?
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wrote on 5 May 2023, 14:50 last edited by
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@89th said in I remember when 7% was good.:
I just don't see the prices retracting to where they "should" be.
Over the long-ish term (5 years?), have housing prices ever dropped?
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wrote on 5 May 2023, 17:12 last edited by
@jon-nyc said in I remember when 7% was good.:
I’m just waiting for prices to drop. Hasn’t happened much yet.
I was planning on looking at a rental property investment next spring. Either a 3 bedroom condo down at Lucas’ school that would be rented out to students or a 4 season vacation house that could be rented out. I am thinking that those plans are changing.
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wrote on 5 May 2023, 18:33 last edited by Jolly 5 May 2023, 18:35
Handy with a hammer?
Had a buddy who bought a house in the garden district within walking distance of LSU, for the purpose of renting out two bedrooms while his daughter lived in the third bedroom. House needed some TLC.
He went in and fixed a few small things on the outside, then painted the exterior. Next, he tackled the kitchen, repainting the walls,cabinets and laying builder's quality ceramic tile on the floor. That was followed by some bathroom work I don't think was too expensive. Don't know what he did in the front room, but I know he painted the bedrooms after doing some sheetrock repair and then had FHA carpet (it was faster and cheaper) laid down.
He sold the house after his daughter graduated. I don't think he made a huge profit, but his daughter's housing expenses in college were pretty low.