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What did you get in the mail or bring home for your MKVII today?

daconchslop

Autocross Champion
Location
SC
Car(s)
ACS SE/Tech
Here in the Colorado area. Shit is crazy. People are buying as high as 150k over perceived value post inspection
In some instances they're doing it sight un-seen. It's crazy.
 

Acadia18

Autocross Champion
Location
The Greater Boston Metropolitan Area
Car(s)
2019 Golf R
We canā€™t get the vultures, I mean realtors, to leave us alone. We could pocket a ton on this place, but then weā€™d be in very much a sellers market, fighting over the scraps.

I told my wife we should sell our house for way more than we paid for it 3 years ago, and temporarily move in with her mother who lives alone in a house made for a family of 5. Then when the bubble bursts and goes back to normal, buy a new place.
 

Keehs360

Autocross Champion
Location
Denver
Car(s)
Mk7.5
I told my wife we should sell our house for way more than we paid for it 3 years ago, and temporarily move in with her mother who lives alone in a house made for a family of 5. Then when the bubble bursts and goes back to normal, buy a new place.
U have chosen violence
 

Acadia18

Autocross Champion
Location
The Greater Boston Metropolitan Area
Car(s)
2019 Golf R

U have chosen violence

My thoughts exactly

Nah man. I love my MIL. I'll take her over my mother.

She keeps a stock of Portuguese bread and cheese for me.

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GTIfan99

Autocross Champion
Location
FL
Bought a new house this weekend so got a new 3rd garage bay for the GTI to hang out in šŸ˜Ž lol just gotta wait another 4 months for it to be finished
5 years ago we bought a house with 3 car garage. I will never go back to 1 or 2 car. It's a life changer.
 

oddspyke

Autocross Champion
Location
Delaware
Car(s)
2016 GTI, 2018 ZL1
I told my wife we should sell our house for way more than we paid for it 3 years ago, and temporarily move in with her mother who lives alone in a house made for a family of 5. Then when the bubble bursts and goes back to normal, buy a new place.
I know everything seems insane, but I'd be worried it's not a bubble. The prices will probably stop going up, but it's not like 2008/2009 where there were loose lending standards and foreclosures waiting to happen that will lead to a big crash. This is all pent up demand. Millennials are the largest generation ever (bigger than boomers) and they're finally buying houses, it just happened to coincide with reduced supply and increased material costs. Housing prices were basically flat for a decade and now they're making up for lost time.
 

Daks

Autocross Champion
Location
Toronto
Car(s)
GTI PP
I know everything seems insane, but I'd be worried it's not a bubble. The prices will probably stop going up, but it's not like 2008/2009 where there were loose lending standards and foreclosures waiting to happen that will lead to a big crash. This is all pent up demand. Millennials are the largest generation ever (bigger than boomers) and they're finally buying houses, it just happened to coincide with reduced supply and increased material costs. Housing prices were basically flat for a decade and now they're making up for lost time.
I agree - I think a structural shift is happening. Hell, I'm in Toronto, it's bananas here.
 

Ridebjj

Autocross Champion
Location
lasVegas
I know everything seems insane, but I'd be worried it's not a bubble. The prices will probably stop going up, but it's not like 2008/2009 where there were loose lending standards and foreclosures waiting to happen that will lead to a big crash. This is all pent up demand. Millennials are the largest generation ever (bigger than boomers) and they're finally buying houses, it just happened to coincide with reduced supply and increased material costs. Housing prices were basically flat for a decade and now they're making up for lost time.

Probably true.

Also, in many places the houses being bought for incomprehensible amounts over asking are not by individuals as an actual home. It's by enormous equity corporations who want to acquire things which will retain/increase in value (while the dollar continues to lose value from the last year+ of just printing them and giving them away) and at the same time, perhaps turn much of the USA into single family rental homes which will never again be for sale, for the middle class.

I had been trying to buy a home around December. I may have given up kind of quickly, but after multiple full list, no concession offers were rejected from the pile of 20 others - I decided I may as well wait. For where I live, I make way way more than the median family income. But I'm being outbid by Californians, very desperate locals (who may or may not regret overpaying down the road) and/or perhaps the corporations.

The house price bubble may not really burst, but the rental bubble very well could. When the moratorium on rent paying/evictions finally ends, a lot of places are going to open up and those prices could fall quite a bit. I'd be fine with very cheap rent and investing what would have otherwise gone towards buying a house. I don't really care that much about home ownership per se, beyond it being an investment vehicle. There's other ways.
 

Raguvian

Autocross Champion
Location
Bay Area, CA
Car(s)
2019 GSW 4MO 6MT
My wife and I are trying to decide if we should buy a house in Denver. Obviously we're worried because even compared to last year prices have spiked, and we don't know if it's a temporary thing we should wait out or if we'll end up paying for it even more down the road.

I would love a 3 car garage but even that might be out of our price range. I'd like more space though because replacing two clutches on two cars at the same time in a two car garage was tight.
 
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