New homeowners living in denial

[krishnaaa]

5 minutes ago, Sonu_Patel said:

key point to consider is ppl are migrating from other countries like us.. 

Population growth is Zero in US in 2021 taking into account migration from other countries.

All developed countries are facing people shortage. Very less wants to have 2 kids.

Forget advanced countries, even Telangana fertility rate is below replacement rate. 

Only African countries have fertility rate >2.1

How many people come from there?

 

https://www.google.com/search?q=us+population+growth&rlz=1C1RXQR_enUS930US930&oq=us+population+g&aqs=chrome.1.69i57j35i39j0i512l8.10351j0j7&sourceid=chrome&ie=UTF-8

 

Also, majority of houses in US are owned by old people. Home prices will drop like a rock when they start going to retirement homes and supply chain eases.

[Sonu_Patel]

24 minutes ago, krishnaaa said:

Population growth is Zero in US in 2021 taking into account migration from other countries.

All developed countries are facing people shortage. Very less wants to have 2 kids.

Forget advanced countries, even Telangana fertility rate is below replacement rate. 

Only African countries have fertility rate >2.1

How many people come from there?

 

https://www.google.com/search?q=us+population+growth&rlz=1C1RXQR_enUS930US930&oq=us+population+g&aqs=chrome.1.69i57j35i39j0i512l8.10351j0j7&sourceid=chrome&ie=UTF-8

 

Also, majority of houses in US are owned by old people. Home prices will drop like a rock when they start going to retirement homes and supply chain eases.

Agree but metropolitan areas.. there is no problem.. all millenials wants to stay closer to the city. 

[Sonu_Patel]

With the hybrid work models, people are giving equal importance for space and houses are getting apprciated with the competition. Any home which is in good condition, just goes like a snap. 

[krishnaaa]

3 minutes ago, Sonu_Patel said:

With the hybrid work models, people are giving equal importance for space and houses are getting apprciated with the competition. Any home which is in good condition, just goes like a snap. 

You are talking near term.

Long term, they will all go bust.

Focus on fundamentals.

[Sonu_Patel]

1 minute ago, krishnaaa said:

You are talking near term.

Long term, they will all go bust.

Focus on fundamentals.

Long term means what, who know what is going to happen after 10 years ? enjoy every moment and dont think about trends of world population. 

[krishnaaa]

24 minutes ago, Sonu_Patel said:

Long term means what, who know what is going to happen after 10 years ? enjoy every moment and dont think about trends of world population. 

That is what I am saying as well. 

Enjoy every moment and not buy houses thinking that they would appreciate long term.

And then they spend time maintaining it instead of enjoying their life.

If you just take into account the enjoy factor, people would have bought smaller houses. Lot of people enjoy better with renting.

People having no kids also buying big houses now....due to FOMO....not because they want to enjoy.

Also, is it good to enjoy every moment of chain smoking if you know that it would cause cancer long term?

Big Houses are cancer.

[Thokkalee]

22 minutes ago, krishnaaa said:

That is what I am saying as well. 

Enjoy every moment and not buy houses thinking that they would appreciate long term.

And then they spend time maintaining it instead of enjoying their life.

If you just take into account the enjoy factor, people would have bought smaller houses. Lot of people enjoy better with renting.

People having no kids also buying big houses now....due to FOMO....not because they want to enjoy.

Also, is it good to enjoy every moment of chain smoking if you know that it would cause cancer long term?

Big Houses are cancer.

this is all about affordability…. If a family can afford to buy their primary house with monthly mortgage payments of less than 35% of their monthly income, it is a no brainer… bigger or smaller house depends on their taste and budget… why pay rent when you can afford to buy a house… rents are very high too now… in many places, rents increased by upto 50% in the last 2 years.. 

[Pavanonline]

12 minutes ago, Thokkalee said:

this is all about affordability…. If a family can afford to buy their primary house with monthly mortgage payments of less than 35% of their monthly income, it is a no brainer… bigger or smaller house depends on their taste and budget… why pay rent when you can afford to buy a house… rents are very high too now… in many places, rents increased by upto 50% in the last 2 years.. 

ade kada enduku chimpukuntunaru evado illu konte? rate perugutadi ani evadu primary house konadu, oka vela konna if he can afford it it's fine doesn't matter what happens to home value. daniki cancer endo, fomo endo. evadi perspective and life vadidi, ee class peekatalu apandra ayya.

[krishnaaa]

19 minutes ago, Pavanonline said:

ade kada enduku chimpukuntunaru evado illu konte? rate perugutadi ani evadu primary house konadu, oka vela konna if he can afford it it's fine doesn't matter what happens to home value. daniki cancer endo, fomo endo. evadi perspective and life vadidi, ee class peekatalu apandra ayya.

Primary house....initially out of need.

Then once they start seeing bigger houses, most of them would be like ...its ok it will anyways increase long term ani kontaru.

If they know that it is going to decrease long term, they will still buy but will be little conservative. This will impact everyone.

[krishnaaa]

38 minutes ago, Thokkalee said:

this is all about affordability…. If a family can afford to buy their primary house with monthly mortgage payments of less than 35% of their monthly income, it is a no brainer… bigger or smaller house depends on their taste and budget… why pay rent when you can afford to buy a house… rents are very high too now… in many places, rents increased by upto 50% in the last 2 years.. 

How many are restricting it to 35% of their monthly income?

Builders aren't building enough affordable homes because people like to showoff big houses.

[Pandubabu]

4 hours ago, Pavanonline said:

ade kada enduku chimpukuntunaru evado illu konte? rate perugutadi ani evadu primary house konadu, oka vela konna if he can afford it it's fine doesn't matter what happens to home value. daniki cancer endo, fomo endo. evadi perspective and life vadidi, ee class peekatalu apandra ayya.

If you have enough savings and live in the house for 5-10 years and you are in affordability zone , it is ok to be aggressive and buy house . But let's talk about FOMO and affordability. 

Whenever friend recommends to buy a home,  I say it is probably not worth now .the first thing that comes out is you won't afford it after 1 year . If you can't buy it,  you can't buy ever . This is called FOMO and if anyone denies it, they are just living in denial 

 

Second one, affordability . Bcos of FOMO , people are not giving a about 35% and , kompe jeevitham annattu, salary mortgage ki saripothe chalu, peratlo Tomato pala koora tho pappu cheskoni bathikeyachu annattu kontunanru.

And , for h1b , affordability is not just monthly mortgage to income ratio, how stable is your kooli job.  Can a recession through you into darkness. If so, do you have enough to back up.

Please talk with white people who faced 1999 and 2008 . It is not rosy .

There were people who paid money to get out of their mortgages in 2008.

[Thokkalee]

16 hours ago, Pavanonline said:

ade kada enduku chimpukuntunaru evado illu konte? rate perugutadi ani evadu primary house konadu, oka vela konna if he can afford it it's fine doesn't matter what happens to home value. daniki cancer endo, fomo endo. evadi perspective and life vadidi, ee class peekatalu apandra ayya.

2021 lopu illu konaleni vallantha ee threads vesthunnaru… they cannot buy a home any time soon now… so they are trying to convince themselves that everyone else took a wrong decision.. and they took(??)  the right decision.. 

whoever closed the homes are happy… some who are yet to close the home (in construction or builder yet to start construction) have to revise their affordability due to high interest rates.. iddaru jobs aithe most people can still afford.. 

[KaipuRaja]

Currently living in Austin.. last year apt rents 1800 unde ipudu 2000 chillara.. inka kotta vaalaki aite 2100+ anta

too much unadi ankunte vere degara ilane perugutunai antunaru friends

[krishnaaa]

On 4/29/2022 at 6:45 PM, KaipuRaja said:

Currently living in Austin.. last year apt rents 1800 unde ipudu 2000 chillara.. inka kotta vaalaki aite 2100+ anta

too much unadi ankunte vere degara ilane perugutunai antunaru friends

Same with property taxes and maintenance 🙄