Desi Young Couples buying homes beyond the Means

[yemdoing]

48 minutes ago, Aquaman said:

ma dosth frisco lo 15 years old house ni last year peak time lo 30k over bid chesi konnadu... already emo repairs vasthunay...stuck ayina feeling undhi vadiki

15 years ante.. manchi location lo untundhi. repairs are expected for that age. 

[pakeer_saab]

29 minutes ago, kittu_123 said:

do you think they are that much dumb? I knew a couple (both are working) no kids.... with in last 3 years they bought 2 homes here in US and 1 in India. 

those days are gone. every one is very active in the market. moreover if they are comfortable on EMIs.....manam evaram comment cheyadaaniki.....

 

2 homes 4 jobs seems the new norm for nibbis and nibbas, one serious recession can get them onto streets

But it is still good to see people on H1 risking way more than those green cards, probably they have not seen recession before.

 

[venkappa]

Owning property is very important for manavallu. Even if they are cash poor and struggle to find funds. Land is sign of prestige. Real estate scams flourish from this obsession. 

[sureshkonda]

1 hour ago, Aquaman said:

ma dosth frisco lo 15 years old house ni last year peak time lo 30k over bid chesi konnadu... already emo repairs vasthunay...stuck ayina feeling undhi vadiki

Frisco la ippudu crime rate increase aythundi. There were two shootings yesterday in frisco.

[Aquaman]

8 minutes ago, sureshkonda said:

Frisco la ippudu crime rate increase aythundi. There were two shootings yesterday in frisco.

also traffic

[kittu_123]

33 minutes ago, pakeer_saab said:

2 homes 4 jobs seems the new norm for nibbis and nibbas, one serious recession can get them onto streets

But it is still good to see people on H1 risking way more than those green cards, probably they have not seen recession before.

 

one side jobs lay off and all.. other side people are buying homes....

 

recession vaste andaram same situation...

[Sonu_Patel]

One of my friend bought a 780K home last year.. both of them were working when they signed home..

now his wife project got ended and also planning for kids.

he is saying 70% of his paycheck is going towards the EMI (Monthly mortgage payment). 

[JaiBalayyaaa]

6 minutes ago, Sonu_Patel said:

One of my friend bought a 780K home last year.. both of them were working when they signed home..

now his wife project got ended and also planning for kids.

he is saying 70% of his paycheck is going towards the EMI (Monthly mortgage payment). 

Location? 

[Sonu_Patel]

2 minutes ago, JaiBalayyaaa said:

Location? 

Prosper 

[Sonu_Patel]

2 hours ago, tables said:

10galeka managalavaram anattu… people who did not buy house are crying on people who already did. 

people who bought this year and last year are crying 1st day of every month ba.

[CanadianMalodu]

1 hour ago, kittu_123 said:

do you think they are that much dumb? I knew a couple (both are working) no kids.... with in last 3 years they bought 2 homes here in US and 1 in India. 

those days are gone. every one is very active in the market. moreover if they are comfortable on EMIs.....manam evaram comment cheyadaaniki.....

 

Possibly dumb. The current prevalent thinking among young couples is that, real estate means only up and not down. Low interest rates, and money printing pushed inflation and cash circulation, but if the era of the low interest rates is over then Fed tries to get back it's money in circulation through steady high rates., which then pushes for more job cuts as companies need to service their debts and slow consumer demand in the market. Right now it's more of stagflation as rates are being held steady instead of more hikes but don't rule them out yet. In such a case, they may end up in sort of negative equity and get struck in the trap of mortgages. Say if the $750 k house slumps to $650k, your $100k equity disappears magically and yet you pay interest on that $100k. To earn $100k after taxes will take at least good 2 years for a decently paid(not talking of VP, Directors, Doctors or architect level guys)  person living minimally. Say if one looses job, then the mortgage stresses the family far more. 

[FrustratedVuncle]

3 hours ago, Sonu_Patel said:

New Age Desi Couples buying 3300+ sft homes and 5 bedrooms are stretching their home purchase budget beyond 750k+ or beyond to keep up with their peers. 

This is causing lots of regrets in Young couples after home purchase to plan for kids education, day care, Investment and vacation planning. 

Basically people are ending up paying more than 60-70% towards the mortgage payment leading to No Savings. 

 

 

anna patel perutho post padithe fake annattu aipoindi anna db.  

[Sonu_Patel]

2 hours ago, Tellugodu said:

Young couple antunav at the same time planning for kid’s education, which only comes up after (+2). Em bada ra ayya niku. Let them buy and be bankrupt. Whom are we to care about.

prosper chuttu pakkala manchi day care prices ranging from 1200 - 1500 per month, Kids formula, diapers, pediatrician, clothes, toys etc etc..  expenses all gets added up..

70% mortgage payment potundi ani anadu.. migatha expenses anni 30% balance tho manage chestunnadu antunna.

[Sonu_Patel]

1 minute ago, FrustratedVuncle said:

anna patel perutho post padithe fake annattu aipoindi anna db.  

defame chestunnaru anna.. 

Sonu ante genuine and patel ante brand anna. 

[Sonu_Patel]

1 hour ago, Paamu said:

Happy thanksgiving and cyber monday ki  deals em levva houses meeda. 

lots of incentives istunnaru ba if you are willing to get loan. They are financing with just giving benefit with rates for first year.. 

2 nd year nundi variable rates vestunnaru... which is taking monthly payment to the roof.