It Started: 93% Of People Regret Buying A Home

#housingmarketcrash #realestate #housingmarket

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[Theholmesreport]

I had 200k for a home deposit, and instead of buying a home i invested it and now it looks like i can buy a house for cash 4 years later . Greatest decision of my life

[rathelmmc]

Something to add. People poorly plan the cost of utilities. Like if you're going from a 1000 sqft apartment to a 2500 sqft house your utility bills could be 3 or 4 times more instead of 2.5 times since you're heating and cooling volume and not area.

[Raymondjohn]

In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.

[janmarine]

A house is not an investment, it’s buying your place to live. Yet, people are taught that it’s an investment and it’s not, unless you are in the business of buying and selling houses.

[brooklynfinest]

They were biddin on houses like an eBay auction 😅😂😂

[Demthorshie]

I guess I'm in the 7%. I bought my 4 bed 2 bath house for $230k in 2020 at a 2.9% mortgage interest rate. Monthly mortgage is cheaper than what renters pay for a studio apt in my area. House is now worth almost 400K. No regrets here.

[jaycube]

To be fair. Taxes and insurance has never gone up this fast. Sooner or later these sharp increases are going to put the hurt on just about everyone.

[CoderDiva]

This is why everyone should take a homeowner’s workshop. I attended and thought it was silly, but it saved me so! By the time I purchased I learned how to budget, I understood how taxes, mortgage insurance, and home insurance could change my note. Lastly, they also taught me not to buy as much house as I qualified for. It was given by a faith-based organization at a nominal fee for the materials.

[oiuytv]

I'm not one of the 93%, but I bought mine in 07, and it beats an apartment

[eplugplay]

Yup homeownership is not cheap. Unexpected maintenance always pops its head.

[edaaronearthchannel]

I must be in the 7%. Don't buy big, live comfortably in a affordable house.

[benton-benton]

The people who paid too much made the state/county reappraisals double the price of houses, and double the property

[stormvet]

I’m very blessed to have a house i can afford and a very comfortable mortgage. I can’t imagine the stress worrying about losing my house. I am wondering who would buy a house without an inspection? And my bank required an appraisal.

[jcaf]

Bought a year and a half ago. No regrets as i paid 100% cash and didnt have to pay high rent the past 18 months. So even if my home looses 10-15% in value i am still ok (break even). I also bought a modest home despite being able to afford a bigger one.

Now if i only did a small downpayment....yeah, i would be sweating it a little

[donkramer]

I bought my place for 350k in 2016, it’s worth about 3.5milkion now, which is too much, a fall will bring it back down a lot but not wipe me out. I recommend buying a broken house and fixing it yourself

[jenflores]

Bought my house 11/2019 before covid, dirt cheap and under 3% boy did I luck out

[Enki]

In first minute and having to pause, trying hard to remember who kept warning about this and it is bugging me. If I recall correctly, he does look a lot like you, though. 🤔😕🤪

[mitchhedberg]

Problem is.... renting keeps getting more expensive too.

The people that bought before the price spike made out best.

[ReynaDPerez]

I honestly believe even if those that bought into the FOMO saw Orlando’s video, they still would fall for the bidding war. That’s how crazy things got.

[PaoAFul]

I closed in Dec 2020. I guess I’m in the 7%. We love our home and location. Unfortunately we spent more on our Reno but we are living on our forever home so it will pay off in a few years. Our home appreciated without even doing a Reno.