Home Prices what the hell is going on?

1980RS

Veteran Member
Jun 17, 2006
6,631
MN
Had a guy a month ago said he would pay me $4500 for my 02 Suburban with 260K on it, the truck is pretty clean and everything is fixed but I will end up with something like a 2007-08 Sub with the same mileage that needs a bunch of work for the same money as I sold mine for. I told him nope.
 

Gary S

Administrator
Lifetime Gold Member
Apr 14, 1999
24,713
Bismarck, North Dakota
Read on a Tahoe forum people are paying $120K for an Escalade plus some dealer markup, and traveling hundreds of miles to get it before it's gone. Crazy.
There is nothing wrong with that if you can afford to pay that price, but it will raise your cost of living.
 

COPO

Veteran Member
Lifetime Gold Member
Sep 15, 1999
22,263
Ontario, Canada
Where I am you can’t find anything under 1,000,000 and that’s 45+ min east and 45+ min west of me. And Toronto, forget it. A shack will cost you $1.5 million. And you thought Vancouver was high.

The Millennials and up may never be able to afford a home unless they get in now since the bidding wars have stopped and prices and come down a bit but the interest rates have gone up. So either way your screwed.

My 1st house in ‘83 cost I think $83,000 and interest rates were 14.75 I think. I paid it off in 5 yrs. New houses in 1973 for an example a bungalow cost you $27,000.

My bungalow with 2600 sq ft finished basement, main floor all hardwood floors, huge 3 car garage and close to a 1 acre lot in 2010 cost us $600,000 and change, and today it’s worth $2.5 million.
 
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kenny77

Veteran Member
Lifetime Gold Member
Jul 31, 2001
3,377
Ft. Lauderdale, FL
The younger people at work are telling me what they're having to pay for rent, and it's like 2-3 times higher than my mortgage. They will never save enough for a down payment. The landlords and leasing people are raping everyone....just because they feel like they can.
And then the upper crust of society complain about the homeless issues?..??
 
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Bandit723

Veteran Member
Oct 1, 2016
4,441
Waupaca WI
The younger people st work are telling me what they're having to pay for rent, and it's like 2-3 times higher than my mortgage. They will never save enough for a down payment. The landlords and leasing people are raping everyone....just because they feel like they can.
And then the upper crust of society complain about the homeless issues?..??
Yep talk about being gouged.....
 

muscl car

Veteran Member
Lifetime Gold Member
Jul 8, 2001
24,036
Gallatin Tennessee
This is why I moved to to Middle Tennessee just to the East of Nashville . The cost of living here is so much more cheaper than it was in California . New construction houses are $300k or less and these houses are very nice

Here's some data I found on house pricing in Tennessee

July 2022, home prices in Tennessee were up 14.8% compared to last year, selling for a median price. On average, the number of homes sold was down 15.7% year over year and there were 7,834 homes sold in July this year, down 9,268 homes sold in July last year.

I live in a small town of 47k population about 35 minutes NE of Nashville along the Cumberland River
 

Jimmac

Veteran Member
Dec 24, 2013
872
tucson az
we inherted my moms house in sierra vista, 1900+ Sq foot red brick, ac, nice neighborhood, new roof 2 car garage, workshop in back etc. talked to the realtor trying to figure what we wanted to do. he said it's probably 180 to 190k. same house in tucson would be 350+ in worse shape. jim
 

Z28Newfie

Member
Mar 28, 2021
99
Kemptville, Ont
Moving around the country during my 30 year military career gave me some good insight in buying and selling homes. I am so fortunate to build our dream home 6 years ago before this madness started and now got it paid off. I feel terrible for the young folk trying to come up with a down payment for their first home. Average home in Canada has come down but it is still too stupid high!
 




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