I’m all about being transparent so let me be just that. I am a member of the RE bubble sub. I don’t believe there’s a bubble. Didn’t ever think there was a bubble. Just felt there was a correction coming and, at the time, a lot of things that were being posted over there made a lot of sense. I even had a few choice things to say myself that I saw locally.
Almost three years later, and I see people there still claiming a burst is going to happen. And here my husband and I sit…..having missed out on amazing rate opportunities on houses (in our area) that were only slightly overpriced. Now rates are high and we’re completely priced out of the market, even at the very lower end of our budget. (For reference – our budget at the start of looking for a home was $750,000 and now our budget is around $400,000-450,000 max due to rates). Sadly we’re not finding anything in our budget these days because prices haven’t come down the way some are claiming. Not in our area, at least. We’ve seen maybe $10-15k price drops but that’s all. Unless you’re looking at homes in the 1.5million range – then you’re seeing somewhat drastic drops. (We’re looking for our forever home, not just something for a few years)
I saw some funny things happen in our area I will admit. People buying houses then listing them as AirBnB only to be told that wasn’t allowed in specific neighborhoods. I saw prices go up and then stay up albeit another sub saying they’ll come crashing down. I’ve now learned the hard way that I was wrong and so was that sub. At least for our specific area. Heck, even the mods over there made my flair a “bubble denier” which, fine…..
Curious if anyone else is in this position where they feel they lost out on an opportunity to own their forever home at historically low rates bevause of doom and gloom they read. We currently own a home and took advantage of the lower rates when they came around – but we’re still sitting here watching rates go up and prices remain the same. All the while, kicking ourselves in the behinds because we didn’t make moves when the getting was good.
I feel defeated and I am a huge reason for listening to click bait articles being posted in certain areas of that sub, but I am curious if anyone else is feeling the same way.
submitted by /u/luxelaughter
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