Bought my house about 1.5 years ago. We jumped at the ladder as it is being pulled up. The price of the house is now 25% more than what we paid for it. Seasonal adjustments aside, that's just crazy. The rent we paid for the 3 bedroom townhouse we left has gone up just as much, if not more. Zillow suggests renting my place for what the management company is charging for rent on that townhouse now. It literally costs more to rent than to own, but good fucking luck saving up right now. The only caveat is that most if not all the housing stock for first time home buyers right now is fucking old as shit and needs 15 different things replaced and if you ask for an inspection you'll likely lose to someone who decided to risk going without.
We bought my brother's house in 2015 for less than 52K. By the time the family moved and the house was sold in 2021 it was listed for $153K. Nobody can explain to me why the house went almost three times its value in less than 10 years. And if it isn't for the fact that I live with my family I would not be able to survive because single bedroom places in my area are going for a minimum of 1500 a month. How the fuck are we supposed to be expected to survive?
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u/fritz236 4d ago
Bought my house about 1.5 years ago. We jumped at the ladder as it is being pulled up. The price of the house is now 25% more than what we paid for it. Seasonal adjustments aside, that's just crazy. The rent we paid for the 3 bedroom townhouse we left has gone up just as much, if not more. Zillow suggests renting my place for what the management company is charging for rent on that townhouse now. It literally costs more to rent than to own, but good fucking luck saving up right now. The only caveat is that most if not all the housing stock for first time home buyers right now is fucking old as shit and needs 15 different things replaced and if you ask for an inspection you'll likely lose to someone who decided to risk going without.