Who are the buyers in this market and economy?

[nostradamus]

I’ve often wondered who the heck would buy now as well.

People wouldn’t buy because homes are still overpriced. Give me as many incentives as you like, a lemon is still a lemon.

Having money or having a job does not mean you would or should throw money away buying a house.

Renting is cheaper. You can rent the average $500k crap shack in SD for what, $2k max per month? That’s being generous of course. In 1 year you paid $24k for rent then. Say you buy it instead. IMO you will lose at least 10% in one year. That’s $50k. Plus insurance, upkeep, tax, etc. etc. etc. Sure you might get a few thousand out of tax deductions (again being generous). Still doesn’t compensate for the difference.

I say if you’re on the fence, rent a house with just your *minimal* living requirements. Cheap. Re-evaluate buying in the winter. If not, wait tell next winter. Repeat. You’ll be happy you did.

[Eugene]

You can rent the average $500k crap shack in SD for what, $2k max per month? That’s being generous of course. In 1 year you paid $24k for rent then. Say you buy it instead. IMO you will lose at least 10% in one year.

So you should wait till your expected 10% yearly drop is less than a year worth of rent, is that your position?

[Eugene]

You can rent the average $500k crap shack in SD for what, $2k max per month? That’s being generous of course. In 1 year you paid $24k for rent then. Say you buy it instead. IMO you will lose at least 10% in one year.

So you should wait till your expected 10% yearly drop is less than a year worth of rent, is that your position?

[Eugene]

You can rent the average $500k crap shack in SD for what, $2k max per month? That’s being generous of course. In 1 year you paid $24k for rent then. Say you buy it instead. IMO you will lose at least 10% in one year.

So you should wait till your expected 10% yearly drop is less than a year worth of rent, is that your position?

[Eugene]

You can rent the average $500k crap shack in SD for what, $2k max per month? That’s being generous of course. In 1 year you paid $24k for rent then. Say you buy it instead. IMO you will lose at least 10% in one year.

So you should wait till your expected 10% yearly drop is less than a year worth of rent, is that your position?

[Eugene]

You can rent the average $500k crap shack in SD for what, $2k max per month? That’s being generous of course. In 1 year you paid $24k for rent then. Say you buy it instead. IMO you will lose at least 10% in one year.

So you should wait till your expected 10% yearly drop is less than a year worth of rent, is that your position?

[SD Realtor]

The buyers I am working with right now are a mix of people. All are owner occupied, some are first timers some are people who sold within the past few years and have been renting. A few a military, some are teachers and other state/county employees. Some are engineers, some are biotech, a couple in legal and medical as well. Most have 20 percent down, a couple are fha.
Some want to buy immediately and others are hoping for more depreciation. All of them are very frustrated by the market right now. Making a generalization about the purchasing power of potential buyers is a huge error. People don’t even need to ask out loud who is buying as we have had many posters on this very board make purchases in the last year. After all, we are spposed to be the smart ones right?

[SD Realtor]

The buyers I am working with right now are a mix of people. All are owner occupied, some are first timers some are people who sold within the past few years and have been renting. A few a military, some are teachers and other state/county employees. Some are engineers, some are biotech, a couple in legal and medical as well. Most have 20 percent down, a couple are fha.
Some want to buy immediately and others are hoping for more depreciation. All of them are very frustrated by the market right now. Making a generalization about the purchasing power of potential buyers is a huge error. People don’t even need to ask out loud who is buying as we have had many posters on this very board make purchases in the last year. After all, we are spposed to be the smart ones right?

[SD Realtor]

The buyers I am working with right now are a mix of people. All are owner occupied, some are first timers some are people who sold within the past few years and have been renting. A few a military, some are teachers and other state/county employees. Some are engineers, some are biotech, a couple in legal and medical as well. Most have 20 percent down, a couple are fha.
Some want to buy immediately and others are hoping for more depreciation. All of them are very frustrated by the market right now. Making a generalization about the purchasing power of potential buyers is a huge error. People don’t even need to ask out loud who is buying as we have had many posters on this very board make purchases in the last year. After all, we are spposed to be the smart ones right?

[SD Realtor]

The buyers I am working with right now are a mix of people. All are owner occupied, some are first timers some are people who sold within the past few years and have been renting. A few a military, some are teachers and other state/county employees. Some are engineers, some are biotech, a couple in legal and medical as well. Most have 20 percent down, a couple are fha.
Some want to buy immediately and others are hoping for more depreciation. All of them are very frustrated by the market right now. Making a generalization about the purchasing power of potential buyers is a huge error. People don’t even need to ask out loud who is buying as we have had many posters on this very board make purchases in the last year. After all, we are spposed to be the smart ones right?

[SD Realtor]

The buyers I am working with right now are a mix of people. All are owner occupied, some are first timers some are people who sold within the past few years and have been renting. A few a military, some are teachers and other state/county employees. Some are engineers, some are biotech, a couple in legal and medical as well. Most have 20 percent down, a couple are fha.
Some want to buy immediately and others are hoping for more depreciation. All of them are very frustrated by the market right now. Making a generalization about the purchasing power of potential buyers is a huge error. People don’t even need to ask out loud who is buying as we have had many posters on this very board make purchases in the last year. After all, we are spposed to be the smart ones right?

[nostradamus]

No, you should wait until the cost of owning is equal to or less than the cost of renting. So rents have to rise or home prices have to fall.

I bought in 1998.

[nostradamus]

No, you should wait until the cost of owning is equal to or less than the cost of renting. So rents have to rise or home prices have to fall.

I bought in 1998.

[nostradamus]

No, you should wait until the cost of owning is equal to or less than the cost of renting. So rents have to rise or home prices have to fall.

I bought in 1998.

[nostradamus]

No, you should wait until the cost of owning is equal to or less than the cost of renting. So rents have to rise or home prices have to fall.

I bought in 1998.

[Author]

Posts