(no subject)

[wickedcherub]

There's nothing that makes me more ill than looking at property prices. The area I want to buy - some of those houses have risen in price by 200k in the last eighteen months while I've been looking and my house value has gone up maybe 40k? Like I don't understand how the value of my house could have gone up a paltry $180k in the past ten years when other suburbs have gone up almost $500k in that time period. I'm being priced out of the market and it's making me ill.

I then worry that if I just shut my eyes and buy these expensive houses in that area that I want, then the market will drop instead of rise and I will have made a loss. Because surely the market cannot sustain 3bedroom houses 40 min drive from city centre at $700k. Surely.

I hate adulting so much.

Comments

[skittish-derby.livejournal.com]

I wouldn't trust it, definitely not. It sounds like a speculative growth value that isn't sustainable. 18 months is literally nothing in the lifetime of a house, to go up so extravagantly is.. well, its dangerous. I would wait it out. There has to be better options, more affordable options. Less risky ones anyway.

course, I am in the US and have literally no idea how house values are or have been where you are, except through your little entries occasionally. We saw a huge market bubble burst back in 2008 and apparently people have learned nothing because prices are back where they were and people are going nuts.

The house we bought was reasonably priced when we bought it in 2012, has only gone up a small amount in the last 3 years... I try not to pay attention to it since I know we got a good deal. if we had paid as much as it was worth back before the bubble burst then I would probably be dismayed by the drop.

you're right though, adulting sucks.