Author Topic: I can't believe up to $1m only buys you this kind of "house" in Irvine:  (Read 1330 times)

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Offline irvinehomeowner

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I only picked "House" as the property type:

https://www.redfin.com/city/9361/CA/Irvine/filter/sort=lo-price,property-type=house,max-price=1M

Mostly older and nothing over 2000sft.

This is crazy.
Once you go 3-car garage... your junk can never go back.
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Offline fatduck

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Re: I can't believe up to $1m only buys you this kind of "house" in Irvine:
« Reply #1 on: September 08, 2021, 06:32:36 PM »
It is not that much better outside of Irvine tbh

Offline Compressed-Village

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Re: I can't believe up to $1m only buys you this kind of "house" in Irvine:
« Reply #2 on: September 08, 2021, 08:29:13 PM »
Welcome to the NEW WORLD DISORDER, where a million dollar is a starting point.

Offline akula1488

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Re: I can't believe up to $1m only buys you this kind of "house" in Irvine:
« Reply #3 on: September 08, 2021, 10:17:01 PM »
El Camino Real and Deerfield. The ghetto villages of all villages in Irvine.

Offline Compressed-Village

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Re: I can't believe up to $1m only buys you this kind of "house" in Irvine:
« Reply #4 on: September 14, 2021, 09:31:50 PM »
Is this transitory? I can see inflationary pushes everything up and the FED sticking to transitory, so it is temporary? Whatever the case may be, the pain is, forwheel.

Looking back early 2020 was so uncertain, with lockdown and covid breakout but so is now. As the steam of FED and government put slowly fading and pulling away, the crazy thing is people sentiment for big purchase like a home is completely opposite. Now you gotta come in with your game full on and prepare to bid up for the home that you like. What a turn around. Can this last and for how long?

Offline irvinehomeowner

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Re: I can't believe up to $1m only buys you this kind of "house" in Irvine:
« Reply #5 on: September 15, 2021, 07:41:33 AM »
Does this mean in an uncertain times… housing, stocks, cars and collectibles become the safe havens? :)
Once you go 3-car garage... your junk can never go back.
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Offline ThirtySomethingWEquity

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Re: I can't believe up to $1m only buys you this kind of "house" in Irvine:
« Reply #6 on: September 15, 2021, 10:34:31 AM »
Is this transitory? I can see inflationary pushes everything up and the FED sticking to transitory, so it is temporary? Whatever the case may be, the pain is, forwheel.

Looking back early 2020 was so uncertain, with lockdown and covid breakout but so is now. As the steam of FED and government put slowly fading and pulling away, the crazy thing is people sentiment for big purchase like a home is completely opposite. Now you gotta come in with your game full on and prepare to bid up for the home that you like. What a turn around. Can this last and for how long?

The money is printed, it exists.  The question is if you can get better returns elsewhere, like if interest rates are raised, if the FED stops buying everything, does money drift from RE to other asset classes like treasury bonds?  Probably some, but that's not going to 'pop' anything, that's just going to take the wind out of the sails so to speak. 

The most likely scenario is at a certain point prices are likely to hit a peak and then stay flat for a while (hopefully long while?) as incomes catch up.

Most people want to buy homes, so even if all the investment properties were to be put on the market you'd still see a ton of buyers, they just might be able to afford a bit less.   

Offline test

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Re: I can't believe up to $1m only buys you this kind of "house" in Irvine:
« Reply #7 on: September 21, 2021, 08:42:31 PM »
Is this transitory? I can see inflationary pushes everything up and the FED sticking to transitory, so it is temporary? Whatever the case may be, the pain is, forwheel.

Looking back early 2020 was so uncertain, with lockdown and covid breakout but so is now. As the steam of FED and government put slowly fading and pulling away, the crazy thing is people sentiment for big purchase like a home is completely opposite. Now you gotta come in with your game full on and prepare to bid up for the home that you like. What a turn around. Can this last and for how long?

When has inflation ever been transitory?

https://fred.stlouisfed.org/series/M1SL

Offline Compressed-Village

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Re: I can't believe up to $1m only buys you this kind of "house" in Irvine:
« Reply #8 on: September 21, 2021, 09:48:50 PM »
Look at that jacked up straight up line. Lovely... just lovely.

 

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