My salary didn’t change at all, but homes went up 82%. The money I saved for a down payment and my salary no longer are good enough for this home and many others. This ain’t even a “good” home either. It was a 200k meh average ok home before. Now it’s simply unaffordable

  • Glifted@lemmy.worldEnglish
    0·
    16 days ago

    My lucky ass bought a house in late 2019. I’m happy I’m making money on it but this doesn’t seem healthy

    • Lost_My_Mind@lemmy.worldEnglish
      0·
      16 days ago

      You’re right. It’s not healthy to profit so much from corporations greed.

      Therefore, it’s only right that you sell me your house for $1

    • Björn Tantau@swg-empire.deEnglish
      0·
      16 days ago

      Same here. And my stupid ass father in-law spread the rumor that we wanted to sell and we instantly had several offers. But we like it here.

    • Fermion@feddit.nlEnglish
      0·
      16 days ago

      You’re only making money if you downsize, move somewhere cheaper, or switch back to renting. If you move and all the other houses have gone up, then you just end up having to sink any gained equity into affording your new place. Rising prices really only help developers, realtors, and REIT’s.

    • Possibly linux@lemmy.zipEnglish
      0·
      16 days ago

      Well you are set so luckily it doesn’t affect you much in theory. If it crashes so be it as you probably aren’t in a hurry to move.

    • Scrubbles@poptalk.scrubbles.techEnglish
      0·
      16 days ago

      With you there. Didn’t realize how lucky we were, and honestly thought about waiting just one more year on multiple occasions. What’s done is done, all I can do now is not feel guilty I got in, but rather just make the most of it. Pay off as quickly as I can, and vote to help others afford houses too.

    • NielsBohron@lemmy.worldEnglish
      0·
      16 days ago

      We got in on on our house in early 2016 and the price of real estate in our area increased by 20% while we were in escrow.

      Our house has more than doubled in price since then but if we had fallen out of escrow, we would not have been able to buy anything anywhere near our jobs/preferred city (and my partner and I have a combined income north of 150k/year).

      Shit is crazy these days