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'Is there a bright side to today's housing market?' Potential homebuyers, first-time homebuyers, and current homeowners discuss

Could've, should've, would've—you just have to live in the present when it comes to today's housing market.

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Posted by Elna McHilderson
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  • There's a reason people throw out the “in this economy?!” as the punchline in today's humor. With inflation going up due to corporate greed and the 1%, the working class grapples more and more with the serious potential that they will never be able to own a home. The gravity of it all is unbearable and weighs heavy on the shoulders of many. However, it's not impossible to own a home right now. Sure, it takes a lot more effort, some more than others, but it's not completely out of reach to everyone. 

    So those venturing into the darkness that is the housing market in hopes of finding their perfect home are having trouble staying optimistic. What do you do to find the bright side in such a dark and dreary place? Well, in t his day and age, you can turn to the Internet! Online can too be a dark place, but sometimes it can be a beautiful place that brings people together and makes you feel a little less alone. So if you're feeling pessimistic about your house hunter, feel free to join the club! 

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    Cheezburger Image 9886809856
    Via zinkevych via freepik
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    How to deal with depression of purchasing power being so much weaker than a few years ago? It bothers me constantly looking at houses I am priced out of that only a few years ago were cheaper and lower rates. People say go make more money...here's my story I was making 30k as a teacher in 2018ish I switched to IT and make three times as much with a few years exp. Yet I could have gotten a better house then then what I can afford now. I am one of the lucky ones(increase wise )and still priced out
    Via EX-FFguy
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    fettuccine8080 - 19 hr. ago Right there with you, man. Houses I'm looking at that are $550k-$600k, which are still below median house prices around here, were purchased for low $300k just 5 years ago. If I bought a house right now for $300k my mortgage would be absolutely nothing and I'd be able to go hard on my retirement and savings accounts, buy a new car, go out to eat more often, invest, the whole shebang. All of a sudden these houses that have hardly improved are worth almost double..and I
    Via fettuccine8080
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  • 4
    It but that's the way it is nowadays. My mortgage payment is going to a unless I miraculously come across a huge chunk of money for a down payment, which ain't happenin. But I figure just get in house, maintain it, and though it may not double in value in 5 years it will still absolutely appreciate and I'll be earning equity and have a stable place to live. По 81 B Reply Share
    Via fettuccine8080
  • 5
    KayJac97 19 hr. ago I could've bought something really on the cheap in my area in 2008. Unfortunately I was 11 years old. It that we weren't ready until now, but it's the way the cookie crumbled for us. I just now got into a job where I feel like I have a comfortable amount of extra. My fiance got some debt paid off. Sure, we would've spent a lot less on a house even in 2020 a year after we met, but we weren't ready yet. And it took us 2 years of looking to find the one we're closing on Thursday
    Via KayJac97
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    I try not to think about what we could've bought for the same money a couple years ago because we simply weren't at that point yet. All we can do is the best with what we have now. We're fortunate to be in a lower cost of living area and we can still afford my dream home. All things considered, we're still incredibly lucky to be able to buy a home together in the city where we work. 0⁰ 62 Reply Share :
    Via KayJac97
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    GemLong28 16 hr. ago edited 14 hr. ago . Yes! To add to your point, the right time to buy a house is when you're ready to. The real estate market is exactly that, a market. It is always best not to time markets. There's a saying when talking about investing and markets. It goes, “time in the market beats timing the market." Also, you could say you wish you bought the $600,000 2024 house in 2018 when it was $350,000. But what are you going to say in 2030?? It'll probably be something along the li
    Via GemLong28
  • 8
    Pqwen2016 hr. ago I joke with my parents they should have bought me a house instead of helping me pay for college. Houses were so cheap after the bubble burst in my area that I could have bought 4 decent houses for the same price as one now. Reply Share 13
    Via pqwen20
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    Wooden_Albatross_832 22 hr. ago Comparison is the thief of joy Reply Share ПО 67 PharmDeeeee - 22 hr. ago buy a house...shut off all Zillow notifications. 31 Reply Share
    Via Wooden_Albatross_832
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    The_Void_calls_me · 22 hr. ago edited 22 hr. ago Logically, you should then be just as depressed that you didn't buy Bitcoin when it was cheaper, or Tesla stock or Nvidia stock. Or depressed you didn't hit the lottery. But depression isn't logical. You're making three times as much as you were five years ago. You're making moves, you're doing better than before. You haven't let your family down. no . 118 Reply Share
    Via the_Void_calls_me
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    Europasplanet. 15 hr. ago I feel for you. I've been a mortgage broker for nearly 8 years. I had so many borrowers that were qualified and theoretically ready to buy a home in 2020 and 2021. But they actively chose to wait, hoping prices would come down. But prices only leveled off, and rates sky rocketed, which drastically changed the monthly payment. We will likely never again see those super low interest rates, but we should start seeing relief on rates starting Q2 2025. Hopefully, mid 5s on t
    Via Europasplanet
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    reOst92mg 19 hr. ago You accept reality instead of fantasizing about what you could have done, adjust, and then act in your best interest. That's all you can do. no 21 Reply Share
    Via re0st92mg
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    ahraysee 20 hr. ago Honestly about it. I just do my best to not think I could have bought 5 years ago but didn't because we were focused on paying off student debt first. I thought I was being responsible by doing that but turns out given the pandemic pricing chaos, it would have been far smarter to buy. !! Can't do anything about now, so just trying to ignore it and enjoy the small home I just closed on. 5 Reply Share
    Via ahraysee
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    insomniacandsun - 19 hr. ago It's frustrating. The market is pretty unpredictable, and there's no way you could've known what it would be like now. What you can do is look at what your options are right now. You may not have the same purchasing power as you did a few years ago, but you still have purchasing power. See what's on the market. If you find something you like, that's great. If you don't, then wait.
    Via insomniacandsun
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    It's hard to say what the market will look like in another year or two. All you can do is look at what's available, as well as what you can afford. From there, you either jump into the market or not. It's hard when things are so unpredictable. We're all in the same boat, and just trying to make the right decision with the information we have. 4 Reply Share
    Via insomniacandsun
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    Sofiwyn 18 hr. ago I mean, regret just keeps you from enjoying your present life. Understand that you made the best decision for the time and don't wallow in it. 5 Reply Share
    Via Sofiwyn
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    SmokinSweety. 15 hr. ago I'm sitting in a $350k house that I could have gotten ten years ago for $60k. I had a decent paying job and could have bought a house, but I wanted to wait to buy until I made more money, so I could afford to live in a "nicer" area. Jokes on me. I ended up in what used to be a terrible area if town but is now "up and coming". I was lucky to get ahold of something in this economy. Do 3 Reply Share
    Via SmokinSweety
  • 18
    fabianiam 16 hr. ago I'm right there with you, my friend. At 37 I too feel like I've let my family down. I often feel like I'm 3 or 4 years behind on every meaningful life changing step. Let's hope things get better and prices/rates somehow drop. Reply Share 3
    Via fabianiam

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mortage housing crash what to do house hunting new homeowners selling a home advice real estate buying a home first-time homeowners How To support group first-time hombuyers homebuyers new homebuyers Reddit refinancing housing market homeowners

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