• hactar42@lemmy.world
    701·
    11 months ago

    I did buy a house in 2008. January of 2008. Two months before the market crashed. It took me years not to be upside down.

  • LemmyKnowsBest@lemmy.world
    645·
    11 months ago

    EVERYONE NEEDS TO STOP USING HOUSES AS AN APPRECIABLE INVESTMENT. THIS IS WHY THE OTHER HALF OF THE POPULATION ARE HOMELESS. of course wealthy people don’t care about homeless people so this shitty-human-problem will never end, will it

    • rustydrd@sh.itjust.works
      23·
      11 months ago

      For individuals and families who actually live in them, a house is a perfectly valid investment with positive side-effects for the overall economy. The issue is with investment firms trading around real estate like it’s candy, which takes housing out of regular use and inflated prices for everyone who actually needs it.

    • Kalkaline @leminal.space
      241·
      11 months ago

      Houses aren’t an appreciable investment, the land is. Look at what happens to the values on mobile homes.

  • Shadywack@lemmy.worldEnglish
    54·
    11 months ago

    Just be born rich, and use Daddy’s money to start a business. It’s so easy, anyone can do it.

  • Star@lemmy.blahaj.zone
    351·
    11 months ago

    Once talked to the real estate agent that helped my mom buy in 2008 about buying a place for me around 2020. I found a decent-enough property for about 250k that i could put a house on.

    A part of their advice to me was to wait for a home around $80,000 like my mom got in 2008.

    Thanks.

    Edit: that 80k is now 460k btw

  • CrowAirbrush@lemmy.world
    25·
    11 months ago

    I was 20 and my father took all my savings a little before that year, gone was my future.

    I saved up and tried again but with the prices we needed help of some dear friends, who turned out to just be after our money and we ended up trusting then too much.

    Now should be attempt 3, but i can’t summon half a million for a house that cost 100k when i saved up for my first attempt at buying a house.

    Oppertunities have gone, life is over as far as i give a damn. It was…something…while it lasted alright.

    • LavaPlanet@lemmy.world
      111·
      11 months ago

      Be angry, also, at the people who have rigged the game, those in power, artificially inflating prices to line their own pockets. And I’m so sorry you’ve had such bad runs! I’m also a little proud of you for, not only getting as far as you did, but a few times! Well done! I say we fucking eat the rich.

      • CrowAirbrush@lemmy.world
        4·
        11 months ago

        I’ve stopped being angry, i can’t spare the energy to do so.

        I just went into: “it’s over anyway” mode. Straight up work, eat, sleep wait for death.

  • paddirn@lemmy.worldEnglish
    22·
    11 months ago

    Bought a house in 2017 and seemed to have lucked out. Got a semi-decent price at a semi-decent rate, but now the market just looks absolutely bonkers insane by comparison.

    • Nommer@sh.itjust.works
      11·
      11 months ago

      I bought my house a couple years before you. I have no idea how I’d be able to afford one now. It’s just impossible.

  • HeyJoe@lemmy.world
    181·
    11 months ago

    As someone who was 24 at the time, and probably the perfect age to buy one if it was my parents’ generation, I was nowhere near ready to buy a house still… honestly, 23-30 were the best years of my life, then I got married and brought one in 2014, which was still semi decent to buy at the time. It was super hard, though, and I have no idea how all these people today are somehow paying above asking price in cash or getting mortgages paying crazy amounts over asking with these interest rates! Either I did things completely wrong in life or these bad decisions people are making today will come full circle a few years from now.

    • Cosmonaut_Collin@lemmy.world
      8·
      11 months ago

      My wife and I just cancelled buying a home because we took a step back and realized that $2700 for living in a house is crazy. And of course the mortgage company is telling us we can afford it. After expenses, we would have no room left to budget for starting a family. Especially with medical care costs. I’m not sure how we’re gonna make it work unless prices come down significantly.

      • jaschen@lemm.ee
        31·
        11 months ago

        2700 is a lot. But if your lender thinks you can handle it, that means you have *some *deposable income. I think you shouldn’t buy a house, but invest some in the SP500 or some government bonds. Putting money away for your future greatly helps you grow some equality.

    • The_v@lemmy.world
      3·
      11 months ago

      2009 with the $8K tax credit. My wife and I purchased our first home then. Nothing but foreclosures on the market. Most prices had dropped by 50-60% from the peak.