Housing market is too far gone.

2000GT

Well-Known Member
Jan 21, 2001
5,427
It would take 1.2 million on deposit in a bank to net $12,000 a year in interest income at 1% so look at it that way.
It’s been a great investment, but I need the cash to make the next move.

Right now it’s empty, so it’s costing me money unfortunately.

Realtor suggested advertising it next week for rent July 1 in parallel to the sale.
 
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stevezissou

OT Supporter
Jul 15, 2009
37,646
US
It’s been a great investment, but I need the cash to make the next move.

Right now it’s empty, so it’s costing me money unfortunately.

Realtor suggested advertising it next week for rent July 1 in parallel to the sale.
Let us know what happens
 
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couchlock

digital nomad
OT Supporter
Apr 8, 2002
71,625
The Highway
Bought this old 1924 house back in 2014, and every time some fucking New Yorker cuts me off on the Palmetto I just grin and thank him for padding my retirement account.
Was a cool place to grow up but motherfuck that joint nowadays, wayyyy too many bozos on the road
 
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Muddy Waters

Pronouns: They/Them
OT Supporter
Dec 12, 2007
39,057
Southern California

One in two homes purchased in Tarrant County in 2021 was bought by a company or corporation. Tarrant County’s share of institutional buyers ranked third nationwide among counties with a population over 50,000. Companies and corporations made up 52% of home purchases in the county in 2021, according to a new report from the National Association of Realtors. The report outlined characteristics of areas with a share of investors higher than 30%. In those areas (including Tarrant County):

Read more at: https://www.star-telegram.com/news/business/growth/article262123032.html#storylink=cpy
 
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stevezissou

OT Supporter
Jul 15, 2009
37,646
US

One in two homes purchased in Tarrant County in 2021 was bought by a company or corporation. Tarrant County’s share of institutional buyers ranked third nationwide among counties with a population over 50,000. Companies and corporations made up 52% of home purchases in the county in 2021, according to a new report from the National Association of Realtors. The report outlined characteristics of areas with a share of investors higher than 30%. In those areas (including Tarrant County):

Read more at: https://www.star-telegram.com/news/business/growth/article262123032.html#storylink=cpy
Increasing interest rates will hopefully "tamp down" this problem
 

Boudreaux

OT Supporter
Aug 26, 2002
63,046
DFW, Texas

One in two homes purchased in Tarrant County in 2021 was bought by a company or corporation. Tarrant County’s share of institutional buyers ranked third nationwide among counties with a population over 50,000. Companies and corporations made up 52% of home purchases in the county in 2021, according to a new report from the National Association of Realtors. The report outlined characteristics of areas with a share of investors higher than 30%. In those areas (including Tarrant County):

Read more at: https://www.star-telegram.com/news/business/growth/article262123032.html#storylink=cpy
Dat my county :hsd:
 
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DasVWBabe

OT's Diamond and Gemstone Tutorial Creator
OT Supporter
Sep 25, 2002
60,199
Frisconia
I’ve seen someone bitch on Facebook on my city’s page because they bought a home in the town but are in a different ISD :slap: like why announce to the world you are stupid
Sometimes it's not totally clear that all of one city isn't part of the city & ISD you're buying in. I am in a zip code that recently got rezoned 3 miles further than the nearest high school. Not a big deal because we are more than 6 years away, but it's a pain in the ass if you have two kids of high school age and one gets grandfathered to the nearest school and the other has to start at the further high school. Both excellent schools, just a complete rip when activities and everything have to be coordinated.

That being said, those who bought in Frisco ISD in the south west (nearest to the Star) have always been zoned for Lewisville. Seems like an odd thing to intentionally do, but people do it all of the time.
 
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stevezissou

OT Supporter
Jul 15, 2009
37,646
US
Sometimes it's not totally clear that all of one city isn't part of the city & ISD you're buying in. I am in a zip code that recently got rezoned 3 miles further than the nearest high school. Not a big deal because we are more than 6 years away, but it's a pain in the ass if you have two kids of high school age and one gets grandfathered to the nearest school and the other has to start at the further high school. Both excellent schools, just a complete rip when activities and everything have to be coordinated.

That being said, those who bought in Frisco ISD in the south west (nearest to the Star) have always been zoned for Lewisville. Seems like an odd thing to intentionally do, but people do it all of the time.
It comes from bureaucracy.

Back before all these houses were built it was just land, school districts drew their boundaries wherever the hell they wanted since everywhere had to be covered by some school district, even places that weren't in the "city limits" at the time the boundaries were drawn.

Fast forward to today and school districts didn't want to give up their boundaries "because of tax collections property and sales tax revenues" so you get where we are today of people living in one city and going to another city's schools.
 
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stevezissou

OT Supporter
Jul 15, 2009
37,646
US
Or think about it another way…homeowners priced out with higher rates are now forced to be renters. That puts more pressure on rental rates, which encourages institutional investors to keep buying up properties.
I agree with your first point, but investors make different decisions as well as interest rates rise just like potential homeowners/renters do.
 

zizi

OT Supporter
Jan 11, 2005
6,917
We finally closed on our first home purchase but I won't even see it in person for the first time until late July.

Getting new flooring put in though we're going to need to repaint the entire interior including kitchen cabinets ourselves as flooring took our and my wife's parents budget they had for us.
 

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