Zillow, who had aBsOLuTeLy NoTHiNg tO Do WiTh ThEsE pRiCeS now has some thoughts on it huh
Yeah it’s always wild when we get comments like this. It’s like interviewing a serial killer about the uncontrollable violence people feel over [insert their MO]
Break even? That’s not even a concern. I just wanna have a place to live where I don’t have neighbors on the other side of the wall.
This is legitimately something I fantasize about. All I want is a small standalone structure to myself, nothing too big or fancy. I’m so damn sick of being held hostage by my neighbors ridiculously odd sleep schedule and lack of basic human decency.
Even though I’m single with a decent job, it’s never gonna happen. But I can dream. Well actually I can’t dream, because my neighbors don’t let me stay asleep long enough to reach a REM state.
A single tiny home on a small property would be amazing at this point.
What’s that Zillow? Buying real estate isn’t profitable? Does that mean you’re going to diversify? Maybe sell some of your property?
Didn’t think so.
Zillow hasn’t bought homes in over a year after over leveraging by a few billion. Focus your attention where it’s due, on all the institutionally funded SFR companies.
Nah. They deserve as much negative attention as black rock.
Buying it isn’t profitable, holding large masses of it though, it’s literally impossible to lose money, and if you do the government will do things like push employees back into overpriced office buildings to continue to justify the price.
Just holding isn’t that valuable. Most real estate doesn’t outpace inflation. If you get to live there for basically free or collect rent it’s a good deal.
If prices are going up, then it’s going to be less than 13.5 years because the value of the house will grow on the meantime and you will own more than you owe
There wouldn’t even be a payback period at all if they weren’t calculating for anticipated value growth.
That’s not true, you eventually win due to not paying rent in perpetuity
Nah the 13.5 accounts for a continued increase in home prices. If it didn’t it would be more than that.
Oh, that’s surprising, then
But then again, I would not be surprised if the rates fell in the future, so if your mortgage is a few years locked in rates and then goes floating this may be still fine
I’m talking more likely 7 years in the future, not like one or two, though
