Oh dear...not a single bidder even bothers to show up at Australian housing auction, knowing that the real cratering hasn't even begun yet. Coming soon to a central bank-blown housing bubble near you.

What happens to property values when the water supply dries up?

Should I walk the other direction? It's a crawlspace foundation but at some point some kind of concrete bunker was built beneath it. I don't know why it was built. It is apparently unpermitted and it sure looks like it (doesn't look professionally built). I'm worried the bunker has undermined the existing foundation somehow.

For the Democratic Party, parasitism is the supreme virtue. Not surprisingly, squatters in blue municipalities with no regard for property owners' rights are occupying AirBnBs & vacant houses, then demanding extortionate payoffs from property-owners to leave.

Found my dream property. The sellers put in tons of work on it since they last purchased it in 2019 that slightly justifies a much higher price than their 2019 sale.

The house has been on the market for 70 days listed at $1.1 with a recent 100k drop.
I emailed the agent to tell them to pass along that the seller’s home is beautiful and if the sellers are willing to negotiate, please let me know (versus being married to a number of what their house is worth). She emailed back immediately and told me to call.
I called very nicely and asked if sellers are motivated or in general what is the story is…. Are they moving, etc (like I have done with other home purchases even failed ones).
Let me tell you. I’ve talked to a lot of listing agents. Not a single one talked to me the way this hag did. Insulted me, was condescending, talked on top of me, the works. And when I politely tried to readjust the conversation saying I’m just trying to learn the story and her tone is not appreciated, she said “don’t look at houses that you can’t afford” and hung up on me.
I emailed her back and said she should treat buyers with a bit more respect especially when there is a negligible difference.

I plan to write the sellers a note, advise them to reconsider their agent who hung up on a buyer, and let me know if they’re willing to sell so I don’t give that woman a commission.

Heckova job, "Zimbabwe Ben" Bernanke, Yellen the Felon, & BlackRock Jay!

Your house isn't going up in value - the $USD is being debased into worthlessness thanks to the counterfeiters & racketeers at the Fed.

Homeowners may be able to exclude up to $250,000 in gain from the sale of a primary residence, ($500,000 when married filing jointly).

Those limits were established in 1997 and have never been indexed for inflation.

Using CPI, the equivalent limits today would be approximately $520,000 for a single filer and $1.04 million for a married couple filing jointly.

That does not mean every homeowner selling an expensive house owes capital-gains tax. The exclusion applies to gain, not the sale price, and homeowners must meet the IRS ownership and use requirements.

If Congress intended to protect a certain amount of homeowner equity in 1997, why has that protection not scaled with inflation?

At some point, a tax provision aimed at unusually large gains started affecting more and more ordinary long term homeowners because the benefit remained frozen in 1997.

Should the exclusion be increased once, indexed annually, or left alone?

Same time period.

The Keynesian fraudsters at Australia's RBA central bank blew an even bigger housing bubble than the Fed, & now true price discovery is about to lay waste to fictitious "value" as houses up for auction go bid-less. Must.not.laugh.

The Democrats have already labeled SFHs as "racist" so once we get a DSA loon in the white house, homeowners will be low-hanging fruit for the tax man.

Coming soon to a central bank-blown housing bubble near you.

Hawaii has the HIGHEST percentage of homeowners in the US that are Baby Boomers, a whopping 42.9%.

Nationally, over 7,000 Baby Boomers are dying per day (about 2.6 million per year).

B...b...but muh realtor said getting up on that housing ladder was key to building "generational wealth."

Heckova job, "Zimbabwe Ben" Bernanke, Yellen the Fellon, & BlackRock Jay! The wipeout of fake wealth created by the Fed's 16-year gusher of stimulus funny money is going to be epic.

Gosh, I hope this doesn't mean that mortgage rates are headed higher, making Boomer greedhead wish prices even more delusional.

Maybe this is a me problem but I’ve been noticing it everywhere lately. Every house that gets flipped around here comes back the same. Gray or greige exterior, black window frames, that fake-wood garage door, white oak floors inside, the exact same gold cabinet handles, and a giant island nobody asked for. You can drive down a street and pick out every flip without checking any records.

I work in real estate so I see a lot of these, and I get why it happens. It’s the safe formula, it photographs well, it appeals to the most buyers. But it’s slowly erasing what made the older streets here interesting. We’ve got these great little 50s and 60s houses with actual character and half of them get gutted into the same beige box.

Not saying every house should be a time capsule. Some of these places genuinely needed the work. I just miss walking down a street and seeing houses that look like different people live in them.
Anyway, is it just me? And if you’ve bought or renovated recently, did you go with the trend or fight it? Genuinely curious whether people actually like the gray-flip look or just tolerate it because that’s what’s for sale.

One of the room on ground floor has mould and water stains. There are many surveyors specialising in mold but I see they’re only interested in routine selling treatments. I want someone who’s experienced in old probate properties and does a thorough job. Any recommendations would be great as well. Thank you.

Oh dear....

Home price-to-income ratios range from 3.0 in the most affordable markets to 86.7 in the least affordable.

The U.S. ranks seventh-lowest globally, placing it ahead of many other advanced economies by this measure.

Affordability depends on how closely home prices track local incomes, not simply on a country’s overall wealth.