Thursday, July 22, 2021

i keep telling people

  




I have been telling people .....dont  be in a hurry to buy .....this  whole   gold rush to buy houses  is  going to  burst  again ......its simple  dynamics   .....prices  get so  high  the  average  joe   cannot buy  and the   bubble  burst ......its a  cyclical scan ........but  fools  get greedy and  get  caught ever single  time .....the  average person gets  priced  out .....and they will eventually raise the interest rate ....banks  do not get  wealthy by  being nice ......fools and their  money....you know  how  that goes  and  fools    get   greedy .......i have  been lucky in 3 places  i have bought and  sold  .....i will never  own a  place   again ......its  a complete  scam ......trust ,me.....you do not own a  property .....a property owns  you ........everything from mortgage to insurance  to upkeep to  buying shit you would not need  but have 

to  because you own the place ......then you have to work on it to  if you need  to save  money ......calling in a handyman now is  not cheap .....same price as a  mechanic now ........but as long as  people  think they  own their  castle  it  will always  be  swings and  roundabouts ........


Florida homebuyers should rent and wait out housing boom, experts say

Researchers are urging Florida homebuyers to consider renting while they wait for the state’s overheated market to cool as soaring prices in South Florida hit records in June.

Statewide, they say, homes are overvalued by 21.76%. creating a risk that buyers could get stuck with overpriced homes for significant periods of time until prices eventually ease.

“The across-the-board increase in the premiums paid for housing throughout the state is very worrisome,” Ken H. Johnson, real estate economist and associate dean at Florida Atlantic University’s College of Business, said in a report released Thursday. “Trees do not grow to the sky, and neither do home prices.

“We’re nowhere near where we were at the peak of the last housing cycle, but we do need to be careful. Walking away from an obviously overvalued home may be the best thing buyers can do in this kind of market.”

The report found home prices in the Tampa area were the most inflated in the state, selling in June for a 32% premium, up from 28.53% in May. In South Florida, prices were 16.89% above their historical norms, with the Orlando area at 21.19%.

Even though monthly rents for apartments, condos and single-family homes are rising as well, they are not increasing at the pace of the home-buying market, said Eli Beracha of Florida International University’s Hollo School of Real Estate in Miami,

He said people searching for a home are better off renting and investing the money they would have spent on home ownership elsewhere.

“Our research on buy vs. rent indicates that, on average right now, renting and reinvesting is a particularly good wealth creation strategy,” Beracha said. “More people who rent and reinvest would help alleviate current pricing pressure, which is a good thing.”

In conducting their joint monthly analysis, the two professors review more than 25 years of home prices from Zillow, the national online real estate service. The numbers include single-family homes, townhomes, condominiums and co-ops.


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