Median home price in San Diego is 860k right now. Rates are at 6.9%.
After a 10% down payment, the mortgage payment + taxes etc is $6000/mo or $72k a year.
That's 81% of median household income (89k) in San Diego. That's a hell of a DTI.
EncoreBubble
3,891 posts
EncoreBubble
@encorebubble
Tracking the excitement of the new Real Estate bubble, circa 2022, from the point of view of a first time home buyer.
Joined July 2022
- Replying to @cd_hooksAmericans: how chilling is it that these Germans discussed using this devastating bomb on a city, right after we actually used this devastating bomb on a city.
- Company announced layoffs. Now just waiting around until I find out if I've been laid off. Can't help being relieved I only have to cover $2500 rent instead of a $6000 mortgage, if it happens.
- Lol, so I was checking some of the local airbnbs trying to do one month rentals to avoid STR laws. Hilariously, they are approaching normal rents. Except they furnish the place, and pay all the utilities. Hey airbnb hosts, you might just be a landlord now.
- So what you're saying is, Colorado's proposed law will do the trick and create more housing overnight... Good to know!
- Replying to @GRDecterYes, all those who bought homes not to live in but to rent, Airbnb, or flip. Vacancy rates are rising, Airbnb is saturated, national home prices are negative yoy. Once they start losing money/equity every month, 4.5% in the bank is gonna start looking real good.
- Juicy - Airbnb is sending out notifications to San Diego hosts to update listings with their license #. "If you don't update ... by May 1, 2023, your listing will no longer be able to host short-term stays." Is airbnb going to de-list unlicensed strs? blog.niceneighbors.org/#/posts/2023-0…
- Low inventory won't save the housing market. Here's why. Inventory isn't a true measure of supply - it's a measure of supply and demand. It's what's left on the shelf at the supermarket at the end of the week. So why did inventory drop in 2020 and is it going to stay that way?
- "Maybe if you have a good chance to delay your purchase, it might be a good time to do so," Robert Shiller told CNBC. markets.businessinsider.com/news/stocks/ho…
- It's like people who don't have these jobs think you get these jobs by being subservient and kissing ass. "It's just a loyalty test! makes sense". No. No, it does not. It's not the Nights Watch.
- Replying to @errononline and @fasc1nateSo dramatic, she slightly startled the cub back 😂
- Replying to @ramitWhen was this recorded? Austin has declined 16% year over year currently encorebubble.com/yoy-price-decl…
