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ISO
by Big Game Hunter. 06/04/24 09:19 PM
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Iso
by AustinC. 05/21/24 05:01 PM
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9 registered members (Okalona, RCHRR, MTeague, Tree Dweller, Bowhunter2011, bhammedic84, brassmagnet, 2 invisible),
581
guests, and 0
spiders. |
Key:
Admin,
Global Mod,
Mod
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Re: Could you afford to buy your house??
[Re: AU7MM08]
#3989574
10/01/23 06:03 PM
10/01/23 06:03 PM
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Joined: Oct 2009
Posts: 5,777 Henry county
coldtrail
12 point
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12 point
Joined: Oct 2009
Posts: 5,777
Henry county
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He'll no, it's sitting on almost a hundred acres. I have less than 200,000 grand in it and the land. Built the house my self, its all paid for. If I cashed out everything I could but would have no retirement
Last edited by coldtrail; 10/01/23 06:05 PM.
"And the days that I keep my gratitude Higher than my expectations Well, I have really good days" Ray Wylie Hubbard
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Re: Could you afford to buy your house??
[Re: AU7MM08]
#3989577
10/01/23 06:05 PM
10/01/23 06:05 PM
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Joined: Oct 2006
Posts: 7,802 Montgomery, AL
Hunting-231
14 point
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14 point
Joined: Oct 2006
Posts: 7,802
Montgomery, AL
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No - bought in 2002. At my age, I couldn’t afford it in today.
"The struggle you're in today, is developing the strength you need for tomorrow."
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Re: Could you afford to buy your house??
[Re: AU7MM08]
#3989578
10/01/23 06:06 PM
10/01/23 06:06 PM
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Joined: Jul 2011
Posts: 39,465 Marshall County
FurFlyin
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 39,465
Marshall County
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Yes. I feel sorry for most who answer no. Don't plan for the good times, plan for the bad times. Many young people have gotten themselves in a pickle the last 10 years, borrowing way above their means.
If my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then will I hear from heaven and will forgive their sin and will heal their land. 2 Chronicles 7:14
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Re: Could you afford to buy your house??
[Re: geeb1]
#3989586
10/01/23 06:18 PM
10/01/23 06:18 PM
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Joined: Jul 2011
Posts: 39,465 Marshall County
FurFlyin
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 39,465
Marshall County
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I bought ours in 2013 when houses sat vacant for years after 2008 crisis. Got 3.25% rate, and paid off in 8.5 years. Busted my arse and doubled up on the payments. Glad I am not having to buy one today. Very smart thing to do.
If my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then will I hear from heaven and will forgive their sin and will heal their land. 2 Chronicles 7:14
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Re: Could you afford to buy your house??
[Re: AU7MM08]
#3989588
10/01/23 06:20 PM
10/01/23 06:20 PM
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Joined: Nov 2015
Posts: 878 Winston Co Al
Tupi
6 point
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6 point
Joined: Nov 2015
Posts: 878
Winston Co Al
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Yes but God has been really good to us and we live pretty modest . I’m about to have to dump some $ into it tho .
Last edited by Tupi; 10/01/23 06:21 PM.
If your gonna be stupid you gotta be tuff
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Re: Could you afford to buy your house??
[Re: coldtrail]
#3989591
10/01/23 06:21 PM
10/01/23 06:21 PM
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Joined: Jun 2015
Posts: 14,090 Some Marriott/Auburn
AU7MM08
OP
Booner
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OP
Booner
Joined: Jun 2015
Posts: 14,090
Some Marriott/Auburn
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He'll no, it's sitting on almost a hundred acres. I have less than 200,000 grand in it and the land. Built the house my self, its all paid for. If I cashed out everything I could but would have no retirement Ya I feel similar on the hell no. My condo is worth $165,000+/-, the mortgage on it today would be $950…it’s currently rented for $940. With everything factored(HOA, proptax, ins) in it would be negative $385ish per month in cash flow with nothing accounted for upkeep/maintenance. Currently have 14.5yrs remaining, $58,XXX at 4%. What the condo has really got going for it is that there is effectively nothing on the market less than $200,000(aside from mobile homes) so it is very price point protected.
Last edited by AU7MM08; 10/01/23 06:37 PM.
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Re: Could you afford to buy your house??
[Re: FurFlyin]
#3989592
10/01/23 06:22 PM
10/01/23 06:22 PM
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Joined: Oct 2009
Posts: 5,777 Henry county
coldtrail
12 point
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12 point
Joined: Oct 2009
Posts: 5,777
Henry county
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Yes. I feel sorry for most who answer no. Don't plan for the good times, plan for the bad times. Many young people have gotten themselves in a pickle the last 10 years, borrowing way above their means. Maybe some of us made a really good investment.
"And the days that I keep my gratitude Higher than my expectations Well, I have really good days" Ray Wylie Hubbard
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Re: Could you afford to buy your house??
[Re: coldtrail]
#3989596
10/01/23 06:28 PM
10/01/23 06:28 PM
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Joined: Jul 2011
Posts: 39,465 Marshall County
FurFlyin
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 39,465
Marshall County
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Yes. I feel sorry for most who answer no. Don't plan for the good times, plan for the bad times. Many young people have gotten themselves in a pickle the last 10 years, borrowing way above their means. Maybe some of us made a really good investment. I'm sure you did, as did others.. I tried to write that so it didn't sound so inclusive, but I couldn't figure a better wording. My point is, there's a lot of people out there who are about to be in a mess. They bought houses they wouldn't normally be able to afford, when the housing market was sky high. They were able to do that because interest rates were so low. Their houses have depreciated now, because interest rates are up. If they have to sell, they're going to be in a tight spot.,
If my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then will I hear from heaven and will forgive their sin and will heal their land. 2 Chronicles 7:14
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Re: Could you afford to buy your house??
[Re: geeb1]
#3989610
10/01/23 06:52 PM
10/01/23 06:52 PM
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Joined: Oct 2009
Posts: 5,777 Henry county
coldtrail
12 point
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12 point
Joined: Oct 2009
Posts: 5,777
Henry county
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Do you guys think there will be another housing crash anytime soon? It will be a while, it's a supply demand market. No one is selling due to interest rates. So supply will be low. There is also 5 million more people that need housing due to the open border so demand is up.
"And the days that I keep my gratitude Higher than my expectations Well, I have really good days" Ray Wylie Hubbard
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Re: Could you afford to buy your house??
[Re: AU7MM08]
#3989611
10/01/23 06:53 PM
10/01/23 06:53 PM
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Joined: Feb 2013
Posts: 8,422
Atoler
14 point
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14 point
Joined: Feb 2013
Posts: 8,422
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Yes, I’m sure we could “qualify” for a home worth several times the house we live in. But we base all of our financial commitments, off the ability to make ends meet, from my wife’s income alone. This does two things. 1. If something ever happens to me, she can make ends meet, without touching insurance, savings, investments, or retirement. 2. Gives us a lot of financial freedom and removes a lot of financial stress.
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Re: Could you afford to buy your house??
[Re: geeb1]
#3989614
10/01/23 06:55 PM
10/01/23 06:55 PM
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Joined: Jun 2015
Posts: 14,090 Some Marriott/Auburn
AU7MM08
OP
Booner
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OP
Booner
Joined: Jun 2015
Posts: 14,090
Some Marriott/Auburn
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Do you guys think there will be another housing crash anytime soon? Yes I think there will be but it will be different. 1. Covid Boomtowns like Austin, Boise, Nashville. 2. Short term rental heavy markets like Gatlinburg/Destin. 3. McMansions as a category. Family sizes are shrinking, so 4,200sqft on a 0.35Ac lot isn’t too appealing. 4. Commercial and specifically commercial office space. Read on Twitter Wells Fargo Bought a building in the San Francisco financial district in 2005 for $105,000,000…it sold last month for $40,000,000
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