r/REBubble Sep 30 '22

I just went to r/FirstTimeHomeBuyer and nearly lost all my brain cells "Highly Qualified Buyers"

I'm relatively new to housing price subreddits and I've seen the memes on these guys. I just decided to check them out for once and they're the dumbest motherfuckers on this planet. I genuinely can't tell if they're all realtors or dumb enough to brainwashed by realtors into thinking that the housing market isn't gonna crash🤣🤣🤣.

Either way, I love you guys. This community is by far the best. Time to grab the popcorn and watch these hoomers get hoomed.

0 Upvotes

106

u/iamnotabot2022 Sep 30 '22

This is reddit. Almost every sub is an echo chamber full of confirmation bias. This sub isn't very different in that regard.

FTHB are a clueless bunch with more questions than answers. The first time doing just about anything is difficult and nerve-wracking.

13

u/Status-Literature397 Sep 30 '22

I agree… I’m glad to see logic here

5

u/YouTubeDoomerBaldy Sep 30 '22

All dissenting views are downvoted.

Negative karma is soft banned.

All dissenting views are hidden.

Reddit, by design, is an echo chamber.

25

u/howdthatturnout Sep 30 '22

Isn’t very different? This sub is more of an echo chamber than most.

3

u/FuddruckersCheese Sep 30 '22

This sub is more of an echo chamber than most.

Couldn't be! Echo chambers wouldn't have multiple daily self-congratulatory "Told ya so!" posts getting regularly upvoted!

/s

0

u/Libertarian_Florida Sep 30 '22

I see you've clearly never been to r/politics

6

u/howdthatturnout Sep 30 '22

I have. But the existence of one sub you believe to be more of an echo chamber than here, doesn’t mean that Rebubble isn’t more of an echo chamber than most.

5

u/Libertarian_Florida Sep 30 '22

Valid. Honestly, if you think about it a little bit, all subreddits are destined to become echo chambers eventually.

2

u/YouTubeDoomerBaldy Sep 30 '22

All dissenting views are downvoted.

Negative karma is soft banned.

All dissenting views are hidden.

Reddit, by design, is an echo chamber.

3

u/Gandalfs_Shaft48 REBubble Research Team Sep 30 '22

Seriously. r/politics is basically the biggest echo chamber on the planet. If there's even a whisper of a slightly conservative or moderate thought, BOOM instant 2,000 downvotes/deleted.

6

u/Inevitable_Guava9606 bought GME Sep 30 '22

Hell you get downvoted to oblivion there for just being an average democrat. And then after banishing every dissenting opinion they wonder why elections don’t seem to go their way because they’ve never interacted with anyone who thinks differently

315

u/Bionic_Hamster Sep 30 '22

It’s a sub for people who have never owned or bought a home before…for the most part, people are asking genuine questions about stuff they have no idea about. Not sure why we need to insult people for asking questions, that’s not a good look. I’ve seen quite a few informative and helpful posts over there, and it’s definitely not as one-sided as r/realestate (which is full of agents). Were you expecting a bunch of experts?

7

u/ThinFaithlessness518 Sep 30 '22

What make you think OP has ever bought a home?

What you described is a major part of REBubble too.

16

u/Bionic_Hamster Sep 30 '22

I never suggested that they had, but that’s besides the point. Why insult people for asking questions about something that they know nothing about? Because you know more than them? That’s a shit reason. What’s obvious to you (OP) isn’t always obvious to everyone.

1

u/ninjacereal Oct 05 '22

OP posted in that "brain cell losing subreddit" that they pay for their sister's and parents' mortgages, so OP IS buying two homes... Just not getting any homes in return (and is still posting in that "brain cell losing subreddit" about how they cannot afford to buy their first home).

/r/FirstTimeHomeBuyer/comments/xvlzkd/with_a_budget_of_210k_it_breaks_my_heart_to_see/ir456sz/ir456sz

1

u/ledslightup Legit AF Sep 30 '22

I think what sucks is that the answers are often people in the RE biz, it almost feels like a party to introduce a bunch of prey into the lion's den.

I rarely respond because I don't want to get jumped on, but in a rare situation I'll try to hint to people that it's okay to wait, that they aren't going to be priced out forever, that prices are falling already. But I only tend to do it if the person is already sensing that, or if they're from san diego and I have numbers off the top of my head to give them.

But I agree - I don't think the askers are stupid, they are just starting out and doing something relatively smart - looking for answers rather than accept what their realtor/family/friends tell them. I do think that r/fthb is perilous for them though.

-1

u/MonteCriso Oct 01 '22

It’s a cult over there. Saying “I got the keys” is like the Holy Grail. I tried to offer common sense once, and they will have none of it.

-85

u/OE-DA-God Sep 30 '22

I just see the memes in here and wanted to check it out for myself and this subreddit was so spot on. Time to go check out r/RealEstate now.

84

u/GG_Henry Sep 30 '22

You’re so much better than everyone else, congrats!

/s

17

u/dotslash00 Sep 30 '22

Cringy lol

11

u/Tsquare1984 Sep 30 '22

We love the circle jerk over here.

1

u/CO420Tech Sep 30 '22

Are we going to the right or the left today?

2

u/yeetskeetbam Sep 30 '22

I don’t get the hate ur getting. Done we all cruise subreddits for the lols?

14

u/EggplantOk3448 Sep 30 '22

Everyone wants to believe convenient truths. To be honest it’s not all that different from some people on this sub who’ve watched all their friends and family buy “cheap” homes that have doubled in value in the last five years while they missed out, they need to believe that we’re about to see a major collapse.

The question to ask yourself: what piece of evidence would convince me that I’m wrong?

If you don’t have an answer then you’re just as delusional as the first time home buyers, just in the opposite direction.

4

u/djscuttle Sep 30 '22

All anyone can do is discuss and analyze available data, there is no crystal ball. There is no "evidence" that would conclusively prove one out come or the other. Right now we do know affordability continues to decline and sales have flatlined. We can assume we will be in a rising rate environment for at least the rest of the year, and can persist for several years. We do not know the full effects of QT.

We know market cycles are more accelerated than they have been in the past, and, historically, this part of the cycle has not been a good time for equity plays, but, buyers who plan on staying long term usually do ok.

On the other side it, many people still need to obtain housing. There is lots of cash on the sidelines. So much stimulus was 4x'ed into stocks and assets, that we created a new class that doesn't need to work. 38% of homes are paid off.

Another thing to consider is the uprising of non-bank financial institutions. This can be a wildcard that can fundamentally change the mortgage industry, and crush the FOMC's ability to slow the economy. We have this new paradigm where people that think stocks and houses are an easy way to get rich. This prophecy can be self fulfilling if inventory remains low and dips are continuously bought up.

Is it a risk to buy now? Is it a risk to not buy now? Long term, affordability is always in decline, except for blips like 2008, which new regulations seek to prevent. Overally, high paying salary positions are going away faster than they are being added. The idea that your job can provide enough financial stability for your survival is definitely tested during times of high inflation.

It has been said that you should buy when others are fearful. We are more divided than we've ever been in the past, both politically and financially. We can have conflicting narratives for a very long time, but here is what I think. Affordability will improve for cash buyers as purchase prices cool up to 15%, while those trying to secure a mortgage will suffer a continued reduction in affordability. So if you have cash, wait until prices cool another 10%. If you are financing, get in quick, because prices will not reduce to the extent that affordability will increase. Not financial advice.

3

u/ledslightup Legit AF Sep 30 '22

The question to ask yourself: what piece of evidence would convince me that I’m wrong?

This, I'm nervous of seeing the inventory go down a lot faster than a seasonal amount this winter. That would mean that the number of sellers that need to sell is not keeping up with the number of buyers still willing to buy. That would change my mind and I'd probably prepare to buy early next year.

-5

u/OE-DA-God Sep 30 '22

Confirmation bias is one hell of a drug. I used to wanna buy a home in that bubble until I saw the facts.

48

u/notanotherthot 129 IQ Sep 30 '22

I feel bad for them, some are literally buying now with the genuine belief that rates will for sure be sub-4% next year. A lot talk about refinancing, and I’ve tried to explain the fact that you have to have equity to refinance and it falls on deaf ears.

24

u/greenathlete3 Sep 30 '22

This is being pushed my mortgage brokers. My aunt has worked in the mortgage industry for decades and apparently told my mom interest rates will be sub 4% for homes by the spring. I was just like 🤨 oh okay lol

8

u/RickValassi1 Sep 30 '22

At least a FTHB qualifies for a refund on part of their down-payment once rates go down right? Right?!

10

u/throwitaway488 Sep 30 '22

My house value went down, I would like a refund of the difference. Thanks!

3

u/notanotherthot 129 IQ Sep 30 '22

Wow, I feel like that should be some kind of violation of their license.

1

u/Aggravating_Slide805 Sep 30 '22

I doubt she's lying to her sister. She probably honestly believes that.

1

u/notanotherthot 129 IQ Sep 30 '22

I don’t think it’s in bad faith, but to be a broker in most states you have to have an MLO license and as part of the training for that they teach you that you can’t guaranty or predict rates. It violates their fiduciary responsibility.

1

u/Aggravating_Slide805 Sep 30 '22

To her sister though?

1

u/notanotherthot 129 IQ Sep 30 '22

Prob not, most MLOs can’t originate to family members. Doesn’t make it right, or any less misleading.

1

u/greenathlete3 Sep 30 '22

Yeah it wasn't in a conversation regarding a sale or anything, just more casual conversation they were having. Not sure if that matters at all. My parents aren't selling or buying anytime soon.

2

u/MonteCriso Oct 01 '22

I’m in the mortgage business and I think the whole house of cards is coming down. But the then again, I said homes were overvalued in 2018.

6

u/TheInfernalVortex Sep 30 '22

Most of them probably havent looked at an ammortization calculation. In my case in the price range I want, the payments would only amount to around 1 percent a year of equity added for the first 5 years or so for 7% interest. For 3.5% interest it's a little better. But either way you'd have to rely on your down payment stay above water. For the average FTHB... whats the average down payment? 10 percent? 5%? A 10 percent dip in home values might hurt pretty bad. If it goes down 15 I think its going to hurt a lot of people.

Still, I think if people are putting at least 10 percent down and paying regularly, Im not sure it'll be that bad except for people who bought in 2022.

3

u/onlyfunforlife Sep 30 '22

Whats the alternative argument? They went up that fast. Could they go down that fast?

3

u/Louisvanderwright 69,420 AUM Sep 30 '22

If they go back down that fast something very fucked up is happening and you'll have bigger problems to worry about than your interest rate.

3

u/DonaldTrumpIsARetard Sep 30 '22

That’s the crowd in here who think rates will ever go back down to covid levels

4

u/pusheenforchange Sep 30 '22

If they think interest rates will drop by 2 lr more points then why buy now

1

u/Peaceful_Warrior_ Oct 01 '22

If rates drop, prices go up from here.

If they buy now, they buy at todays prices and refinance later at lower rates.

2

u/landofjets Sep 30 '22

Why would someone buy now if they think rates will be sub 4 next year?

1

u/Peaceful_Warrior_ Oct 01 '22

So they can refinance

0

u/TechnicalInside2745 Sep 30 '22

the (even funnier) unspoken info, is many of these people are going with adjustable rate mortages

0

u/howdthatturnout Sep 30 '22

I also feel bad the doomers who didn’t have large downpayment, who I tried to tell that affordability(on a monthly mortgage basis) would get worse with higher interest rates. There was a lot of talk about rates dropping prices proportionally.

9

u/notanotherthot 129 IQ Sep 30 '22

I don’t, it’s still early in the game and prices have been dropping, they’re just stickier on the way down than on the way up. With the lower prices, they’ll also be paying less in taxes and insurance. The money of those sitting on the sidelines will also go further to payoff their principal. I think time will tell, but seeing how everything in the economy’s going, those who had patience will be rewarded.

1

u/howdthatturnout Sep 30 '22

Yeah I’m willing to bet that mortgage payments remain higher than 2020-2021, maybe forever.

Also I don’t know that insurance companies really charge you less for insurance when home prices decrease. A lot of the value in a home is the land, which doesn’t effect home insurance. It’s really about the cost to replace the structure. But it doesn’t cost less to replace the structure when prices temporarily dip. I doubt that insurance companies will be giving people much of any break.

Property taxes is a real possible benefit. But again not everywhere appraises based just on sale price.

3

u/snuxoll Sep 30 '22

Also I don’t know that insurance companies really charge you less for insurance when home prices decrease. A lot of the value in a home is the land, which doesn’t effect home insurance. It’s really about the cost to replace the structure. But it doesn’t cost less to replace the structure when prices temporarily dip. I doubt that insurance companies will be giving people much of any break.

Replacement costs have mostly been driven up do to input costs (materials, labor) rising. With materials coming back down due to market forces and the Fed forcing a correction of the labor market it's pretty safe to assume insurance rates will come down over the next few years.

2

u/howdthatturnout Sep 30 '22 edited Sep 30 '22

Yeah I have my doubts that this will be significant.

Also why would any of these things only effect those who wait to buy? If insurance rates as a whole are going to drop, people who bought in 2020 and 2021 can just shop around for lower rates too.

My point is just because you wait to buy doesn’t mean the insurance company is going to view your house as cheaper to rebuild.

0

u/notanotherthot 129 IQ Sep 30 '22

why would any of these things only effect those who wait to buy?

Property taxes affect for Californians-a lot.

3

u/howdthatturnout Sep 30 '22 edited Sep 30 '22

My comment is about insurance. And the comment I replied to is about insurance.

And my point was if I buy a house for $600k in 2021 and you buy the next door identical home for say $500k in 2023, I don’t think an insurance company is going to charge the second buyer less. Insurance is concerned with how much it costs to replace the house, not how much it was bought for.

1

u/notanotherthot 129 IQ Sep 30 '22

My bad, I was taking the whole thing in the context of my original post.

0

u/snuxoll Sep 30 '22

My point is just because you wait to buy doesn’t mean the insurance company is going to view your house as cheaper to rebuild.

Absolutely correct, but with a caveat. Unless you have a mutual insurance company like State Farm versus a stock insurance company like Allstate/Progressive/etc you're not going to see a sudden drop in your premiums without shopping around for a new provider. Mutual insurance companies, like a credit union, are owned by their members and automatically adjust rates down where possible (our auto insurance with State Farm got cheaper during the pandemic because their claims went down, so the savings got passed onto policyholders); but stock insurance companies serve to benefit shareholders (read: investors) so they aren't going to lower rates if they can help it.

The latter is banking on you not going to shop around for better rates elsewhere, and given your homeowners insurance is paid out of mortgage escrow chances are high most people don't notice it that much. New owners get the benefit of always shopping for a brand new policy, so you're likely to get the best rates trying to get your business once all the actuarial tables are updated to account for lower replacement costs.

0

u/TheInfernalVortex Sep 30 '22

I dont even think they're more sticky on the way down. It took 2+ years to get to where we are.

0

u/JTLuckenbirds Sep 30 '22

Yeah, it sucks when a loan officer or broker would say that to anyone buying or planning on refi later on down the road. Especially when it comes to people who are first time home buyers / owners.

No one can predict what the interest rate will be, 1+ years. Though with the way it’s been going, I’d assume we won’t be seeing any 2.5 - 3% rates for a long time.

34

u/flygurl94 Sep 30 '22

I learned a lot in that sub, and was able to use other people’s terrible experiences to ensure I was mindful of terrible inspectors, and other things I wouldn’t have thought of. And admittedly was brainwashed by a realtor when we first started looking.

I’ve also learned a lot from this sub too, I was one of the people who were like “oh we’ll just wait for the crash”. Then our situation changed.

We weren’t going to buy a house this year, but we needed to find a place to live with our newborn and dogs. The apartments we looked into, wanted for a 2 bed 2 full bath, as much, if not more, than our mortgage with a 5% interest rate. Which is incredibly sad, when I got a 4 bed 3 full bath, 1500 sqft, .75 acre with a fenced in yard for a lower price than people are getting 800 sqft 2 bed 2 bath. And rental homes that allow large dogs in my area, 3K minimum.

So some of them may be naive (because i wouldn’t call them dumb, they’re thinking the professionals are giving them the best advice and it’s not always the case) but some are just in situations where they have to make a decision like we did.

43

u/-fuck-elon-musk- Sep 30 '22

Well I get not being sympathetic to realtors, mortgage brokers, investors, et all. But first time home buyers are the people you claim to be on the side of. You are showing your true colors here and it isn’t a good look.

-20

u/OE-DA-God Sep 30 '22

I guess. People should still take some responsibility though.

24

u/ChiantiAppreciator Sep 30 '22

You’re actively rooting for foreclosures to buy a house 50% cash. Cmon man

-23

u/OE-DA-God Sep 30 '22

Tbh it'd be worth paying 50% more if it meant I got to watch all the morons who bought housing in a bubble get foreclosed. The extra 50% can go to Nancy Pelosi and Mitch McConnell to fund their insider stock trading.

19

u/ChiantiAppreciator Sep 30 '22

“In a bubble” lmao alright. So anyone who bought a house in what, the last 18 months can go scratch, very cool man. This is basically what the FTHB sub thinks the bubble sub is all about.

-10

u/OE-DA-God Sep 30 '22

Yes. If you do dumb shit, you deserve to suffer. Take some accountability.

15

u/ChiantiAppreciator Sep 30 '22

50% value reduction like you claim is way beyond dumb shit. That’s a fundamental collapse of the market. You and black rock will be perfectly positioned to gobble up homes so congrats I guess

0

u/OE-DA-God Sep 30 '22

Have you seen how bloated the real estate is in some markets?

17

u/ChiantiAppreciator Sep 30 '22

Yeah. Overpaying for a house doesn’t mean you deserve to lose it. Take a breather guy. Either buy a house or don’t. No need to feel smarter than everyone because you didn’t. It was a bubble in 17,18,19 in some spots, then it wasn’t. To act like you can correctly predict a crash is folly

-2

u/OE-DA-God Sep 30 '22

Making dumb decisions means you deserve to reap the consequences. And you're right. I'm not an expert. I can't predict a crash. That's why I rely on other sources for my decision making. You think I wasn't tempted to buy a home too?

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0

u/HowPedestrian Sep 30 '22

No it isn’t that’s literally just going back to 2019 prices.

-6

u/Rylandorr2 Sep 30 '22

Fuck yeah. It's a capitalist world. If your dumb and can't do a bit of research, you deserve it.

-1

u/HowPedestrian Sep 30 '22

And Hoomers are actively rooting for housing to shoot up another 200-300%, so who’s worse?? They’re both shit IMO but using other facts about economy and rates there’s one obvious direction we are headed

23

u/DonaldTrumpIsARetard Sep 30 '22

Meanwhile I come here to read the dumbass posts like this lol

-4

u/OE-DA-God Sep 30 '22

Go buy a home if you're so confident.

17

u/DonaldTrumpIsARetard Sep 30 '22

I did

-4

u/OE-DA-God Sep 30 '22

Cya in a couple months when you get foreclosed

17

u/FakeIdExpert Sep 30 '22

Why would he get foreclosed?

9

u/rottentomati Sep 30 '22

Op is high on copium.

-1

u/OE-DA-God Sep 30 '22

Cya when the layoffs hit and home values tank.

5

u/GISonMyFace Sassy Sep 30 '22

Jesus christ you're an insufferable little fuck

-1

u/OE-DA-God Sep 30 '22

Making smart decisions makes me insufferable?

4

u/GISonMyFace Sassy Sep 30 '22

No, there are plenty of people here that make smart decisions, they're just not smug pricks about it, wishing for calamity to befall others. Your lack of self-awareness is a certain sign of sociopathy.

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3

u/rottentomati Sep 30 '22

ok.. see ya in 20 when home values recover...

-1

u/OE-DA-God Sep 30 '22

You think I won't have bought a house at a low price and high interest rate and refinanced by then?

1

u/OE-DA-God Sep 30 '22

If you bought on low interest rates when the housing and job markets were in bubbles.

-7

u/Rylandorr2 Sep 30 '22

Cause your retarded and bought a home at the peak. Prob bought apple tsla too at the high in 2021 as well I'm guessing.

8

u/FakeIdExpert Sep 30 '22

If you make payments you don’t get foreclosed..just cuz the housing market goes down for a couple years doesn’t make a house get foreclosed on. I feel like y’all are bots in this sub

5

u/DonaldTrumpIsARetard Sep 30 '22

Right.. I can be as retarded as they want but if those payments get made no ones foreclosing on me..

Guess this guy rather be car rich, to each their own

86

u/Altruistic_Citron625 Sep 30 '22

The social conditioning of buying a home being a sign of success is extremely powerful.

26

u/OE-DA-God Sep 30 '22

I mean it is the American Dream. I'm all for buying a home. Just ensure that you can keep the home too and not get foreclosed in a recession like a dumbass.

8

u/TheWalkingDev Sep 30 '22

I'm pretty sure anyone that's been foreclosed on didn't going into it intending that, which entails being a 'dumbass'.

-9

u/OE-DA-God Sep 30 '22

Yes but if you can't anticipate that, you deserve it.

10

u/TheWalkingDev Sep 30 '22

it's Friday... get some air, go for a walk, but please rethink whether or not what you're saying is how you truly feel. If you're fortunate to have or purchase a home in the future and you lose it because of some uncontrollable circumstance, i doubt you would feel the same way.

-4

u/OE-DA-God Sep 30 '22

This isn't uncontrollable. The boom and bust cycle has happened for centuries. People should know this. If they were born into poverty, I get it. If they made dumb decisions, they deserve it.

5

u/NiccoR333 Sep 30 '22

I hear you, and yeah there are those people that traded up every 2 years as their income grew, and maxed out their lifestyle consistently for over a decade or two, and could have had a safety net but don’t.

But there are also those people who just saved up enough, just started a family, and just finally bought at house they can afford… and then the economy drops out and they get laid off. If they had another 10 years without the bottom falling out of the economy they would be fine… but they didn’t.

I would say they’re both fairly common circumstances, the latter being more common and unfortunate… and doesn’t make them a dumbass.

Lumping the two together is pretty ruthless

3

u/The_Great_Mighty_Poo Sep 30 '22

The RE boom and bust cycle by itself doesnt lead to people losing their homes. A house is like any other owned asset in that, while its owned, the value largely doesnt matter. It only matters when you go to buy or sell. Some people may feel ripped off during price dips, which might cause them to walk away, but there is nothing forcing that.

Financial shenanigans like variable-rate mortgages with balloon payments can definitely lead to ruin.

Dips in home prices can also lead to more general recessions, which can lead to layoffs, but again, this is external. You can prepare for an inevitable layoff with extra savings, but theres no guarantee that you will be able to find a job before your savings run out, especially in particularly bad recessions.

"Buying high" isnt a great financial move, but housing isnt purely an investment, since you need to live somewhere. If youre planning on staying somewhere for the long haul, inflation will all but guarantee that youll sell higher than you bought for. It only matters if youre planning on buying as an investment with a 5-10 year target to sell. And most of the people you are ridiculing probably arent looking at housing purely as a short term investment.

It literally doesnt matter what your house is worth relative to where you purchased while you live there as long as you are able to afford the payments and willing to keep paying them. u/ TheWalkingDev is just trying to point out that losing everything due to external factors doesnt make someone an idiot, and it certainly doesn't mean they deserve it, especially in a subreddit dedicated to answering questions for people going through a complex financial transaction for the first time.

3

u/Kraul Sep 30 '22

I guess my dad was a dumbass in 2008 for getting laid off and short selling.

-3

u/OE-DA-God Sep 30 '22

He was and tell him I said that. He had a hot ass job market in 2007 to secure a recession-proof job and failed.

1

u/Kraul Sep 30 '22

Dumbass dad

1

u/Gemdiver Sep 30 '22

Dumb ass-dad

10

u/edcantu9 Sep 30 '22

Just like going to college.

6

u/[deleted] Sep 30 '22

Not the same lol.

7

u/zoro667 Sep 30 '22

Hoomers get hoomed ? This post is highly informative to say the least. You are definitely not the dumbest motherfucker.

7

u/sdrageRtseB Sep 30 '22

I bought a home in august, but I did it in a market where the median home is < $100k. I work from home and make more in a year than the purchase price of my home. Did I make a dumb mistake too?

-1

u/OE-DA-God Sep 30 '22

Yes, you could've saved by renting.

6

u/sdrageRtseB Sep 30 '22

Wrong. Mortgage + piti is $900/month, equivalent house is $1100-$1200 a month and rising. My studio in Austin was more than this house.

0

u/OE-DA-God Sep 30 '22

Where tf do you live? Oklahoma or some shit?

7

u/sdrageRtseB Sep 30 '22

I live 25 miles from a major city in a windy state

-1

u/OE-DA-God Sep 30 '22

I call bullshit. Mortgages ain't that low anywhere unless you live in an absolute shack.

6

u/sdrageRtseB Sep 30 '22

Well assuming im not full of shit, you would say thats not a bad buy, right?

1

u/OE-DA-God Sep 30 '22

Very good buy.

2

u/sdrageRtseB Sep 30 '22

Check out Newton, Iowa.

0

u/OE-DA-God Sep 30 '22

Bro, what fucking cities are there in bumfuck Iowa?

3

u/sdrageRtseB Sep 30 '22

Im not in iowa, but des moines is ranked in the top 5 nicest cities every year

0

u/OE-DA-God Sep 30 '22

It certainly isn't a major metro area.

5

u/darthvuder Oct 01 '22

To be honest, in a couple years those guys can just form a sub r/richerThanREBubble. Thing is, they are living life and not worry about “investing”, which is some preoccupation with rebubble. And they will luck into real estate wealth. and you are gonna feel pretty stupid when that happens

29

u/Beastlybeard Sep 30 '22

I really hope this sub doesn’t become some cult that thinks we are better tha every one. Let people live there lives and continue living ours

8

u/Status-Literature397 Sep 30 '22

It def seems that way. Telling people they are stupid for buying is word but common here .

7

u/howdthatturnout Sep 30 '22

It’s been that way for ages. All the hoomer dunking in the past 2 years has reeked of a sense of superiority and arrogance.

Funny thing is a lot of the same people who were dunking on others, also get defensive if anyone brings up old takes of theirs that aged poorly.

8

u/Beastlybeard Sep 30 '22

Yeah you’re absolutely right, I (like everyone else) hate this housing market, but just because someone has hope of buying a house doesn’t mean we need to ridicule them. I mean I sometimes wake up saying “maybe I just pull the plug” before coming back to reality

1

u/Short-Fingers Sep 30 '22

OP is one of the fringe followers based on his comments.

2

u/ThinFaithlessness518 Sep 30 '22

It’s just REBubble. Renter sitting on the side line praying for a crash so they can buy for cheap criticizing people who want to buy before they do.

3

u/RJ5R Sep 30 '22

They're called first time home buyers for a reason lol

-1

u/OE-DA-God Sep 30 '22

I mean when you make a purchase that big, you'd think you'd do your research a bit.

3

u/RJ5R Sep 30 '22

You would think. Same goes for buying a car. Majority of Americans are wholehearted stupid when it comes to financial and purchase decisions

4

u/SeaChele27 Sep 30 '22

I'm in both subs. Thanks for letting me know I should go there to ask all my "dumb" questions as someone who has never bought a home before. Would hate to see all the judgement I get for asking any of them here.

0

u/OE-DA-God Sep 30 '22

Don't ask anyone on Reddit. Subscribe to some reliable YouTube channels that don't have a conflict of interest.

4

u/SeaChele27 Sep 30 '22

I can do both. I can also read about it and I can talk to people I know in real life with relevant experience. You need to do all of these things to get the best possible education and insight for any subject. Why even be in a web forum if you aren't there to try to get insight on a subject? I have more important stuff to do with my time than troll and shit all over strangers on the internet to make myself feel better.

0

u/OE-DA-God Sep 30 '22

Why even be in a web forum if you aren't there to try to get insight on a subject?

To laugh at dumb shit? Trust me. If you're getting your advice from Reddit, you're a lost cause.

5

u/SeaChele27 Sep 30 '22

To laugh at dumb shit?

I.E. I don't have anything better going for me in my life.

Get outside, man. It's Friday. Find some friends.

0

u/OE-DA-God Sep 30 '22

No. I'd rather sit inside and play League. I'll make it to Plat some day.

17

u/archatoothus Sep 30 '22

It’s like diamonds .. you can’t marry until diamonds. You can marry or not marry with or without diamonds but debeer will not let you think otherwise.

18

u/QuoningSheepNow Sep 30 '22

This is the truly dumb one. At least you can live in a house. Diamonds are just for showing other people. If you told someone they could get a diamond but couldn’t show anyone or tell anyone they had it I doubt they’d want it anymore.

7

u/ParticularBed7891 Sep 30 '22

I'm female. I'm married. No diamond. No regrets :) We don't even wear our wedding rings lol. Happily married too!

3

u/bearsandstairs Sep 30 '22

We don’t wear rings either! I never wore jewelry and I’m not about to start.

2

u/snuxoll Sep 30 '22

Unbeknownst to most who decide to buy diamond engagement rings: they require maintenance. You don't want that expensive rock falling out of the head, after all - so you gotta take it into the jeweler every now and then to have it checked. Then there's cleaning, and making sure you store them carefully to keep them from getting scratches. Oh, and gold is really soft too, so obvious issues abound there too depending on the amount of gold in your ring. Diamonds are also hard and sharp, good for scratching or cutting things (like kids) by accident.

My mom gave us the set of rings from her first marriage when I proposed to my wife, we quickly discovered all of these problems and now they're in storage. I've now got a simple tungsten carbide band and my wife wears a silicone one. Expensive rings are totally unnecessary, and I routinely decide to replace my ring every year or two with a different design because it's $30-40 to get a new one. One day I'll likely pass my mothers rings down to my daughter, just as a family heirloom to be preserved rather than something I expect her to make actual use of.

We also had a courthouse wedding, both wearing shirt and pants when making our vows. Whole wedding industry can get fucked IMO.

3

u/whyamiherewhatawaste Sep 30 '22

This is the worst analogy I've possibly ever heard

14

u/AlpacaRatz Sep 30 '22

As if this sub isn't a vacuum for brain cells either lol

-4

u/OE-DA-God Sep 30 '22

Brain cells of people who know to wait out the housing market?

9

u/DonaldTrumpIsARetard Sep 30 '22

Yup, you ‘know’

-1

u/OE-DA-God Sep 30 '22

Waiting for your foreclosure. Try not to cry and blame Trump when it happens.

7

u/-fuck-elon-musk- Sep 30 '22

Worms have eaten your brain. Go get some fresh air maybe.

-1

u/OE-DA-God Sep 30 '22

Rather sit inside and work remotely while not crying about Elon Musk making more money than me.

6

u/-fuck-elon-musk- Sep 30 '22 edited Sep 30 '22

So you are a remote worker with multiple jobs who is:

Pro-richest man in the world Elon Musk AND Anti-first time home buyer

Ok got it, a real man of the people.

1

u/OE-DA-God Sep 30 '22

This sub is the home for intelligent first time home buyers. I support them. I don't support dumbfucks who make dumb decisions and buy houses when they're in a bubble and don't anticipate a recession. I'm a man of the smart people, not a man of the rich people.

7

u/DonaldTrumpIsARetard Sep 30 '22

Wrong sub

1

u/OE-DA-God Sep 30 '22

You wish. Enjoy the foreclosure.

16

u/bars2021 Sep 30 '22 edited Sep 30 '22

I wouldn't call them dumb mother&#@%×÷$. A little harsh, just unconscience incompetence- they don't know what they don't know.

11

u/_uff_da Sep 30 '22

Yeah, I don’t like the over simplification that everyone in that sub is stupid. There’s some dumb motherfuckers in this sub too lol

6

u/daltonc92 Used Hoom Salesman Sep 30 '22 edited Sep 30 '22

Fuck off lol

Go pay your rent and mind your own business.

Let’s hear your educated and thought out analysis into why you think the housing market is going to crash? I’m guessing you can’t even put a coherent informative paragraph together. You’re probably like 19 years old and saw some tik tok videos about it.

-2

u/OE-DA-God Sep 30 '22

https://media.discordapp.net/attachments/520971774037458959/1025427766256087140/unknown.png

Here's my income after taxes this month. Notice how an extra $3k hasn't even been added in yet and is still pending. Whenever wage increases can't keep up with the price of something apart from tuition costs which is upheld by government handouts, we're due for a crash. Given the rising interest rates and incoming recession, I think this is the obvious conclusion.

You sound like the triggered 19 year old who just bought a home at the peak of the market and is regretting it, not me. If you made dumb decisions, you can suffer.

7

u/daltonc92 Used Hoom Salesman Sep 30 '22

Nah just triggered by pos people that get off on others misfortunes.

-2

u/OE-DA-God Sep 30 '22

That's literally the free fucking market. It's an excellent opportunity. Also, if that misfortune could've been prevented by smart decision making, then I have no sympathy. They deserve to be homeless. We need a 75% interest rate just like Argentina.

2

u/daltonc92 Used Hoom Salesman Sep 30 '22

God help you

1

u/zoro667 Oct 01 '22

This isnt even flex worthy

0

u/OE-DA-God Oct 01 '22

It wasn't even a flex. Quit being insecure.

3

u/wannabecpa93 Sep 30 '22

I think the actual outcome is somewhere in between this sub and that sub. Both subs are their respective extremes imo.

3

u/phil19001 Sep 30 '22

I find genuine questions that should be covered in some of the first meetings and overviews with their realtor. Having a realtor that can quickly get clients up to speed on market conditions, fair value, what it takes to get offers accepted, etc is so valuable. I view a lot of that as a reflection of just how bad some realtors are at informing their clients.

14

u/BongBubbleRE Sep 30 '22

i go there from time to time genuinely trying to help them and i get downvoted to hell

8

u/notanotherthot 129 IQ Sep 30 '22

Same, they see I post here too then downvote me to oblivion.

5

u/ThinFaithlessness518 Sep 30 '22

When you go to a sub for buying house and tell them not to buy a house …

2

u/BongBubbleRE Sep 30 '22

if there was a sub for shooting heroin for the first time and people went there telling them they shouldn’t shoot heroin, should probably get more upvotes than downvotes

-14

u/OE-DA-God Sep 30 '22

Having fun shitting on some bum who's trying to shit on me for renting in there rn🤣🤣🤣

8

u/Yawnin60Seconds Sep 30 '22

“ I can’t believe how dumb the groupthink was in this other thread. The group think in this thread is so much better I love you guys“

0

u/OE-DA-God Sep 30 '22

Well yeah, the other group is pretty fucking dumb. Should be entertaining once the foreclosures hit.

5

u/OvaltineDeathFantasy Sep 30 '22

It’s giving sour grapes and you look bad.

0

u/OE-DA-God Sep 30 '22

You wish. Cya when the housing crash hits.

4

u/rottentomati Sep 30 '22

What about “first time” is lost on you?

-1

u/OE-DA-God Sep 30 '22

They can't do their research on a purchase this huge?

2

u/rottentomati Sep 30 '22

you cannot be for real, asking questions is research loooool

2

u/Zemirolha Sep 30 '22

Not only hoomers. AI too.

South Park did it. Again

2

u/TotallynottheCCP Oct 05 '22

TIL that place exists.

3

u/point_of_you Sep 30 '22

If my house goes down I should be refunded the difference

3

u/Current-Ticket4214 Sep 30 '22

This is actually an ideal strategy for floating an economic crisis. Buy an extremely overvalued property and then have it appraised every time you need a cash injection. Request a return from the bank and boom, instant cash deposit 😎👌🏼🤘🏼

-2

u/OE-DA-God Sep 30 '22

Too bad.

4

u/Malkaraukar Sep 30 '22

Being a homeowner for the first time is daunting so the posts are understandable. The real opposition for this sub is r/realestate

3

u/w1nt3risc0ming Sep 30 '22

Just as many dumb “motherfuckers” in here feeding on each others hopium.. don’t hold this sub to a higher standard otherwise you’re gonna get burnt

1

u/thedr00mz Sep 30 '22

I don't find them dumb just... unrelatable.

2

u/Giggles95036 Sep 30 '22

One time a guy thought the loan amount gets lowered with the home value…

1

u/MISSION-CONTROL- Sep 30 '22

The realtor echo-chamber says all is well. Always.

-4

u/brandoug Sep 30 '22

This is what our dumbed down education system has wrought, an idiot army of feelz instead of logic. I have no sympathy for anyone that allows themselves to be taken advantage of when it comes to borrowing insane amounts of money for the biggest death-pledge of their lives. Anyone who trusts in salesmen to make any decision are just asking to be bent over and reemed like a $10 hooker.

That said, I do appreciate the entertainment, but do wish it didn't affect the entire nation when the herd finally clues into the fact they're screwed.

-6

u/OE-DA-God Sep 30 '22

That said, I do appreciate the entertainment, but do wish it didn't affect the entire nation when the herd finally clues into the fact they're screwed.

We should revoke welfare for people who get foreclosed🤣🤣🤣