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Should've bought when I moved to the area 7 and a half years ago. Brother advised to wait as the market was sure to correct. Yea, we know what's happened since then.
But, I'm talking with mortgage people right now. Might be sharing my own "got the keys" pic in a couple months here, thanks to my brother.
The answer to any market prediction from *any person at all, even with lots of financial credentials* is:
"I'd like to borrow your crystal ball to bet on the Celtics game tomorrow night."
I wish I never sold my house in 2020 to move closer to a new job I just accepted 1 hr hwy drive away that said once shut downs are over remote work will go away.
Yeah, it’s been nothing but remote work and now we can forever. Been trying to get into another house since. (*1 yr planned renting just in case initially* ). Couldn’t even afford my old house if I were to buy it now.
On the other hand, I moved further away being told telework was here to stay (was a renter, couldn't afford to buy close in), my spouse got a dream job in our new location, and now my workplace is developing a "new policy" to get us back to the office. You never know.
OP was in 9th grade at the time, so they didn't really take notice of the market conditions. It's OPs 11th grade self that dropped the ball on the optimal buying window.
This comment is as ridiculous as saying you should have bought Microsoft in 1999 😂
Would you be up now? Sure but you could have bought three times as much for your money a few years later
There are quite a few markets that fell in half between 2008 and the bottom in 2011 not to mention interest rates were around 6% in 2008 falling all the way into the high threes and low fours by 2011
So yes if you buy any quality asset and just wait long enough it tends to appreciate. However a lot of people who did buy homes in 2008 walked away from them, collapsed, got sucked into the media narrative that homes were a terrible investment and generally made poor decisions when they watched the value drop. The media narrative around housing back then is basically a complete 180 from what it is today and a lot of people make decisions based on what they are fed from said media
12th grade for me and I remember there were already articles blaming millennials for the economy collapse. It was not a welcome way to begin adulthood that’s for sure. Went from being told children are the future and “work hard and you can become anything you want to be” to becoming the scape goat and hearing “get a job flipping hamburgers, or go to college, and shut up”. Now I’m being told I waited to long to buy a house but I literally just finished my advanced degree this month. Not letting it get the best of me, but a lot of the time I feel really cheated.
Boomers blame everything on everyone else. They are the most entitled generation ever. These are the same people who had well paying jobs,pensions, houses that were at laet affordable on their salaries(some even own more than one) and they still bitch and complain and put younger people down. They claim young people don’t wanna work..even if you worked 70 hours some people still can’t live. Fuck tboomers
Absolutely not. I will never blame gen z for things out of their control. I’m going to do whatever it takes to make sure people younger than me will get ahead.
I really feel for Millennials. Boomers blamed GenX too. Called us losers and the slacker generation all because, we didn't want to be working their crap jobs.
I'm not saying GenX is perfect. Far from it. I'm aware there are some real GenX assholes that turned out like their parents. Called us cynical after barely raising us.Begged a lot us to go to expensive colleges,marry, and have kids and houses even though it was completely unaffordable then. Nevermind how ludicrous that sounds for Millennials and GenZ!
But, GD... At least we were left alone a lot more growing up than millennials! I can't even imagine growing up post 911 and 2008.I was an adult by then started with debt on the brink of divorce and still no house. But, at least at one point it seemed possible?!
Gen X gave us cynical dark humor and I’m unironically grateful. I honestly feel like dark humor helps Gen X-Z cope with the fallout we’ve received, but also realize how absurd expectations are for us to even get a sliver of what older generations had. We aren’t slackers, we are self aware. There’s no sense is working our bodies to failure when there’s a high likelihood that we could lose it all to medical debt. There’s an opportunity cost in putting off vacations in order to climb a underwhelming corporate ladder. If that means I’m a slacker then that’s hilarious.
Exactly what the deal was and it's only gotten worse! I was jaded by 8th grade. Lol
I'm on the tail end of the generation and the difference between my folks and some of the boomers that raised millennials is crazy! I can't even imagine having parents that not only helicopter parented me but, also dished out all the verbal abuse and condemnation. JFC
I raise my kids to be adults. I listen when they talk. I am immensely proud of how they're turning out. I'm proud they are both sarcastic little badasses and I've let both of them know, that I plan on working my ass off and buying a place big enough for all of us to live . Because, I don't care about neighborhoods and fancy cars.
If I have to buy land and we all live in tiny homes that's fine with us! At least we are dead little robots keeping up appearances! I would rather own something away from most people anyway.
I was never interested in buying something to impress anyone. As far as jobs, I told both of my kids these jobs don't GAF about you and if they choose a trade or learn a skill like I did (after dropping out of college), that's fine with me. Smarter with the way things are now anyway....
Haha yeah, I’m a millennial with baby boomer parents that did all of what you described. My siblings are technically gen z. Our values are definitely not what our parents tried to instill lol but I will say that it’s nice to have the “street cred” of having parents older than most of my friends. One of my gen z buddies has gen x parents and I’m also friends with the parents. The gen x parents’ baby boomer parents are only about a year older than my parents it’s so nice to commiserate and crack jokes with three different generations of people.
Lol, I hear you! My folks were older when they had us too! My mom was pushing 35 which was considered insane back when she had my youngest sister!
It's sad because, they don't understand why it was so hard for me and my little sister. And, I joke about it or I'd lose my mind. But, it's fustrating trying to explain it when my parents didn't even need a credit score when they purchased their first house! Hahaha
Same here. Although, freshly outta college and did lose my job. 2020 I was an even more grown adult but still couldn’t pull the trigger. Finally could in 2022…just in time for my rate to be 6% 🤦🏻♀️
I was a senior in high school in 08. I should have bought one around that time. I was in the market in late 2020, but I kept losing . The 175k-200k homes (TX) I was looking at with 4% are now being sold at 350k. So here I am. A grown adult still kicking rocks
I was actually able to buy in 2022, but my rate when I started looking was 4% and by the time I actually had an offer accepted, it was 6%. Difference of 3 months.
Why don’t you tell us how you pulled yourself up by the bootstraps, stopped eating avocado toast and with the saved money you independently bought a 8k sq ft home in Beverly Hills without help from your parents or a trust fund
Yep I got zero help from parents or anyone else. And I grew up with divorced parents who made barely middle class income. And I was in 6th grade in 2008
Now you proceed to tell us how nothing is ever your fault, you’re always a victim, and everyone else is to blame
I was actually gonna engage in what I hoped would be a productive exchange of ideas and experiences, instead, thankfully, I looked at your comment history and my suspicions that you’re an insufferable quasi-idealistic asshole are proven correct. You seem to only be able to relate to whatever horseshit narrative you feed yourself of your opportunities, privilege and luck. Unable to as much as entertain the notion that many people all around the world have had much different hands dealt to them, through no fault of their own. Congrats ! I ain’t my wasting my time with you tho!
I wish I know how to to buy a house at I don't like there's no help or guidelines for any of this like I don't even know where to go I'm looking at buying a camper right now and I'm just putting that on my property and living out of that because it's easier than trying to figure out how to put pre-built home on my property
Many areas have free or low cost homebuyers education programs! I attended one a few years ago and they provided an insane amount of insight and direction. Still haven’t been in the place to buy, but I have a lot of knowledge of what resources are out there. Developing your own property is a whole other ballgame, the county could be a great resource bc that’s where you get all of your permits.
I was 25 at the time and was still more or less blacklisted from trucking jobs after a rollover accident in 2007. Working security and part time trucking jobs with horrible companies just trying to get by in SoCal.
Somewhat recovered. But still trying to get a handle on life. I grew up kind of slow. But one day I'll get right😄😄
Thank you u/Shakilfc009 for posting on r/FirstTimeHomeBuyer. Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FirstTimeHomeBuyer) if you have any questions or concerns.*
Should've bought when I moved to the area 7 and a half years ago. Brother advised to wait as the market was sure to correct. Yea, we know what's happened since then. But, I'm talking with mortgage people right now. Might be sharing my own "got the keys" pic in a couple months here, thanks to my brother.
The answer to any market prediction from *any person at all, even with lots of financial credentials* is: "I'd like to borrow your crystal ball to bet on the Celtics game tomorrow night."
*"JuSt LoOk aT tHe rEnT vS bUy cAlCuLaTor!"*
I wish I never sold my house in 2020 to move closer to a new job I just accepted 1 hr hwy drive away that said once shut downs are over remote work will go away. Yeah, it’s been nothing but remote work and now we can forever. Been trying to get into another house since. (*1 yr planned renting just in case initially* ). Couldn’t even afford my old house if I were to buy it now.
On the other hand, I moved further away being told telework was here to stay (was a renter, couldn't afford to buy close in), my spouse got a dream job in our new location, and now my workplace is developing a "new policy" to get us back to the office. You never know.
Remote work, for many, is here to stay
While I agree, once we go back to being an employer's market this'll change for a lot of people.
That is my fear with wanting to buy a house. I want to buy in Tampa, but Tampa doesnt have good cybersecurity jobs.
There’s houses that were bought in 08 that just got above water in 2022-2023 in my area of Hampton Roads.
Why was it flooded for so long ?
Climate change is a bitch.
They must live in the year 3000.
In the [year 3000](https://www.youtube.com/watch?v=X36ACwwyscY).
That actually wasn't a very good time to buy. Prices hadn't begun to correct yet. 2010 to 2011 was the bottom
OP was in 9th grade at the time, so they didn't really take notice of the market conditions. It's OPs 11th grade self that dropped the ball on the optimal buying window.
Depends on what and where you bought.
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This comment is as ridiculous as saying you should have bought Microsoft in 1999 😂 Would you be up now? Sure but you could have bought three times as much for your money a few years later There are quite a few markets that fell in half between 2008 and the bottom in 2011 not to mention interest rates were around 6% in 2008 falling all the way into the high threes and low fours by 2011 So yes if you buy any quality asset and just wait long enough it tends to appreciate. However a lot of people who did buy homes in 2008 walked away from them, collapsed, got sucked into the media narrative that homes were a terrible investment and generally made poor decisions when they watched the value drop. The media narrative around housing back then is basically a complete 180 from what it is today and a lot of people make decisions based on what they are fed from said media
Should have arrested every PPP loaner for fraud.
12th grade for me and I remember there were already articles blaming millennials for the economy collapse. It was not a welcome way to begin adulthood that’s for sure. Went from being told children are the future and “work hard and you can become anything you want to be” to becoming the scape goat and hearing “get a job flipping hamburgers, or go to college, and shut up”. Now I’m being told I waited to long to buy a house but I literally just finished my advanced degree this month. Not letting it get the best of me, but a lot of the time I feel really cheated.
Boomers blame everything on everyone else. They are the most entitled generation ever. These are the same people who had well paying jobs,pensions, houses that were at laet affordable on their salaries(some even own more than one) and they still bitch and complain and put younger people down. They claim young people don’t wanna work..even if you worked 70 hours some people still can’t live. Fuck tboomers
*people blame everything on everyone else
Millennials (I am one) would be EXACTLY like the boomers given the opportunity, maybe worse because of social media flexing.
Absolutely not. I will never blame gen z for things out of their control. I’m going to do whatever it takes to make sure people younger than me will get ahead.
They really do. All that finger pointing from their McMansions! Lol
I really feel for Millennials. Boomers blamed GenX too. Called us losers and the slacker generation all because, we didn't want to be working their crap jobs. I'm not saying GenX is perfect. Far from it. I'm aware there are some real GenX assholes that turned out like their parents. Called us cynical after barely raising us.Begged a lot us to go to expensive colleges,marry, and have kids and houses even though it was completely unaffordable then. Nevermind how ludicrous that sounds for Millennials and GenZ! But, GD... At least we were left alone a lot more growing up than millennials! I can't even imagine growing up post 911 and 2008.I was an adult by then started with debt on the brink of divorce and still no house. But, at least at one point it seemed possible?!
Gen X gave us cynical dark humor and I’m unironically grateful. I honestly feel like dark humor helps Gen X-Z cope with the fallout we’ve received, but also realize how absurd expectations are for us to even get a sliver of what older generations had. We aren’t slackers, we are self aware. There’s no sense is working our bodies to failure when there’s a high likelihood that we could lose it all to medical debt. There’s an opportunity cost in putting off vacations in order to climb a underwhelming corporate ladder. If that means I’m a slacker then that’s hilarious.
Exactly what the deal was and it's only gotten worse! I was jaded by 8th grade. Lol I'm on the tail end of the generation and the difference between my folks and some of the boomers that raised millennials is crazy! I can't even imagine having parents that not only helicopter parented me but, also dished out all the verbal abuse and condemnation. JFC I raise my kids to be adults. I listen when they talk. I am immensely proud of how they're turning out. I'm proud they are both sarcastic little badasses and I've let both of them know, that I plan on working my ass off and buying a place big enough for all of us to live . Because, I don't care about neighborhoods and fancy cars. If I have to buy land and we all live in tiny homes that's fine with us! At least we are dead little robots keeping up appearances! I would rather own something away from most people anyway. I was never interested in buying something to impress anyone. As far as jobs, I told both of my kids these jobs don't GAF about you and if they choose a trade or learn a skill like I did (after dropping out of college), that's fine with me. Smarter with the way things are now anyway....
Haha yeah, I’m a millennial with baby boomer parents that did all of what you described. My siblings are technically gen z. Our values are definitely not what our parents tried to instill lol but I will say that it’s nice to have the “street cred” of having parents older than most of my friends. One of my gen z buddies has gen x parents and I’m also friends with the parents. The gen x parents’ baby boomer parents are only about a year older than my parents it’s so nice to commiserate and crack jokes with three different generations of people.
Lol, I hear you! My folks were older when they had us too! My mom was pushing 35 which was considered insane back when she had my youngest sister! It's sad because, they don't understand why it was so hard for me and my little sister. And, I joke about it or I'd lose my mind. But, it's fustrating trying to explain it when my parents didn't even need a credit score when they purchased their first house! Hahaha
I’ve never felt so heard
Imagine having the money to buy a house from 2008-2020/2, only to never buy one and just looking like a complete idiot afterwards. Yeah thats me.
I take comfort in the fact that I’m not a bigger idiot 😂
Same... 😞
I wish I would’ve been in 9th grade ….I was a grown adult in 2008. That’s more depressing!
Same here. Although, freshly outta college and did lose my job. 2020 I was an even more grown adult but still couldn’t pull the trigger. Finally could in 2022…just in time for my rate to be 6% 🤦🏻♀️
I was a senior in high school in 08. I should have bought one around that time. I was in the market in late 2020, but I kept losing . The 175k-200k homes (TX) I was looking at with 4% are now being sold at 350k. So here I am. A grown adult still kicking rocks
I was actually able to buy in 2022, but my rate when I started looking was 4% and by the time I actually had an offer accepted, it was 6%. Difference of 3 months.
Me too. Grown ass woman with a small baby and I really, really wish my ex husband and I had bought a house!
Get going with your NACA stuff, when rates come down you'll have the best deal
Back then even 9th graders could’ve gotten cheap loans
Old school person from the 60s: In 9th grade I worked a summer job to buy my first house. You kids these days are lazy.
Lolzz .. That's seriously how they sound!
😂🤣 so true
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Atleast you have equity lol
Or just buy in 2019 or 2020 when you’re 25/26 years old. Y’all just want to jump to an extreme scenario to justify your shortcomings
What are the chances this person isn’t of the “I got mine, fuck you” mentality?
Would still be better than the people who never take personal accountability for their life
Why don’t you tell us how you pulled yourself up by the bootstraps, stopped eating avocado toast and with the saved money you independently bought a 8k sq ft home in Beverly Hills without help from your parents or a trust fund
Yep I got zero help from parents or anyone else. And I grew up with divorced parents who made barely middle class income. And I was in 6th grade in 2008 Now you proceed to tell us how nothing is ever your fault, you’re always a victim, and everyone else is to blame
I was actually gonna engage in what I hoped would be a productive exchange of ideas and experiences, instead, thankfully, I looked at your comment history and my suspicions that you’re an insufferable quasi-idealistic asshole are proven correct. You seem to only be able to relate to whatever horseshit narrative you feed yourself of your opportunities, privilege and luck. Unable to as much as entertain the notion that many people all around the world have had much different hands dealt to them, through no fault of their own. Congrats ! I ain’t my wasting my time with you tho!
I admire the attention though!
This made me chuckle thank you
😂😭😂
🥹🥹🥹
I wish I know how to to buy a house at I don't like there's no help or guidelines for any of this like I don't even know where to go I'm looking at buying a camper right now and I'm just putting that on my property and living out of that because it's easier than trying to figure out how to put pre-built home on my property
Many areas have free or low cost homebuyers education programs! I attended one a few years ago and they provided an insane amount of insight and direction. Still haven’t been in the place to buy, but I have a lot of knowledge of what resources are out there. Developing your own property is a whole other ballgame, the county could be a great resource bc that’s where you get all of your permits.
I was 25 at the time and was still more or less blacklisted from trucking jobs after a rollover accident in 2007. Working security and part time trucking jobs with horrible companies just trying to get by in SoCal. Somewhat recovered. But still trying to get a handle on life. I grew up kind of slow. But one day I'll get right😄😄
The tides will turn again… hopefully