New homeowners won’t see a profit for over a decade

[CherryGaru]

https://www.axios.com/2023/10/22/us-home-sales-profit-years

 

Time to break even on a typical U.S. home purchase, by down payment amount

Assuming a 30-year loan at 7.045% and purchase price of $376k

Bar chart showing the time to break even on a typical U.S. home purchase, with varying down payment amounts, assuming a 30-year loan at 7.045% and a purchase price of $376k. The time to break even would be 13.5 years for a 3% down payment, 13.3 years for 5%, 12.6 years for 10% and 11.3 years for 20%.

Get comfy, homeowners: It can take up to 13.5 years to break even on your purchase, per Zillow data exclusively shared with Axios.

Why it matters: You'll have to stay in your house for more than a decade before you can sell and make a profit.

Context: Historically, experts have said you need to stay in your home at least five years to break even. But with mortgage rates inching toward 8%, new homeowners will need to stay put longer to avoid going underwater.

[Sixers]

800K house ki 30 year mortgage payments anni kalipithe 2.5 million vasthundi. 30 years ki same property 2.5 million ki ammochcha?

[baabaa]

11 minutes ago, Sixers said:

800K house ki 30 year mortgage payments anni kalipithe 2.5 million vasthundi. 30 years ki same property 2.5 million ki ammochcha?

TX lo aiyte bongu koda radu after 30 yrs. All the Austin/Dallas hype is very recent. Okka sari remote work cut cheste cinema ardam avutundi. TX has lots of land and historically houses don’t make much money at end of 30 years. New construction vasta ne untundi unless govt maari they don’t allocate new land like in California. 

[Sixers]

22 minutes ago, baabaa said:

TX lo aiyte bongu koda radu after 30 yrs. All the Austin/Dallas hype is very recent. Okka sari remote work cut cheste cinema ardam avutundi. TX has lots of land and historically houses don’t make much money at end of 30 years. New construction vasta ne untundi unless govt maari they don’t allocate new land like in California. 

California Newyork thappisthe migatha chotla antha money venakki raadhaninpisthundi meeru cheppedhi choosthunte.

[jpismahatma]

3 minutes ago, Sixers said:

California Newyork thappisthe migatha chotla antha money venakki raadhaninpisthundi meeru cheppedhi choosthunte.

North east major cities are decent. Boston is very expensive.

[Ryzen_renoir]

37 minutes ago, baabaa said:

TX lo aiyte bongu koda radu after 30 yrs. All the Austin/Dallas hype is very recent. Okka sari remote work cut cheste cinema ardam avutundi. TX has lots of land and historically houses don’t make much money at end of 30 years. New construction vasta ne untundi unless govt maari they don’t allocate new land like in California. 

Also high property taxes act as a Barrier for hikes , million dollar homes would cost a lot every year 

[venkappa]

2 hours ago, CherryGaru said:

https://www.axios.com/2023/10/22/us-home-sales-profit-years

 

Time to break even on a typical U.S. home purchase, by down payment amount

Assuming a 30-year loan at 7.045% and purchase price of $376k

Bar chart showing the time to break even on a typical U.S. home purchase, with varying down payment amounts, assuming a 30-year loan at 7.045% and a purchase price of $376k. The time to break even would be 13.5 years for a 3% down payment, 13.3 years for 5%, 12.6 years for 10% and 11.3 years for 20%.

Get comfy, homeowners: It can take up to 13.5 years to break even on your purchase, per Zillow data exclusively shared with Axios.

Why it matters: You'll have to stay in your house for more than a decade before you can sell and make a profit.

Context: Historically, experts have said you need to stay in your home at least five years to break even. But with mortgage rates inching toward 8%, new homeowners will need to stay put longer to avoid going underwater.

What is the best region in America to live in?

Northeast, South, West coast, Midwest, Pacific Northwest, etc.

[KothaKurrodu]

2 hours ago, baabaa said:

TX lo aiyte bongu koda radu after 30 yrs. All the Austin/Dallas hype is very recent. Okka sari remote work cut cheste cinema ardam avutundi. TX has lots of land and historically houses don’t make much money at end of 30 years. New construction vasta ne untundi unless govt maari they don’t allocate new land like in California. 

Ante ee frisco, prosper hype antha thaggipothadha soon

[Joker_007]

most of the property buying is a emotional investment.. Only 10% are seeing for investment purpose... 

[baabaa]

10 hours ago, venkappa said:

What is the best region in America to live in?

Northeast, South, West coast, Midwest, Pacific Northwest, etc.

Best region anedi is different for different ppl. Uppudu, we have lot of ppl in TX moving from NE/chicago because kids ki asthma/cold issues undeyi ani. I have a North Indian friend who went away from TX because he wants cold and didn't like heat here.

Also, job koda big factor. SAP valaki TX used to be good till now [not anymore]. Core tech valaki CA is best. So it all depends.

[LungiLingaraju]

Asalu eee Raleigh lo enduku antha prices perigi sastunnayo telyadu 

[pakeer_saab]

12 hours ago, Sixers said:

California Newyork thappisthe migatha chotla antha money venakki raadhaninpisthundi meeru cheppedhi choosthunte.

CA NY lo money return vastada

asalu 30 yrs lo those states will be what IL is today

TX is the new CA

[Sixers]

6 minutes ago, pakeer_saab said:

CA NY lo money return vastada

asalu 30 yrs lo those states will be what IL is today

TX is the new CA

Naakemi theiyadu bhayyo. Land real estate value peruguthundemo ani anukunna anthe. 2.5 million 30 years lo konna illu ayithe ok. Lekapothe money ni drainage lo vesinatte kada.

[pakeer_saab]

1 minute ago, Sixers said:

Naakemi theiyadu bhayyo. Land real estate value peruguthundemo ani anukunna anthe. 2.5 million 30 years lo konna illu ayithe ok. Lekapothe money ni drainage lo centre kada.

rising cities vs dying cities

all the blue states/cities are dying

Red ones are rising, 30 yrs ki better returns from red states than blue