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My salary didn't change at all, but homes went up 82%. The money I saved for a down payment and my salary no longer are good enough for this home and many others. This ain't even a "good" home either. It was a 200k meh average ok home before. Now it's simply unaffordable
Keep in mind that inflation has risen over 30% in just the last 4 years, which explains at least part of the rise in prices. I wouldn't be surprised if inflation is even higher in certain areas of the country. I'd also not be surprised if Georgia is getting a lot of natural disaster refugees from places like Florida.
Keep in mind that 4 years ago was COVID times when everything was shit.
My lucky ass bought a house in late 2019. I'm happy I'm making money on it but this doesn't seem healthy
You're right. It's not healthy to profit so much from corporations greed.
Therefore, it's only right that you sell me your house for $1
Didn't think I'd ever see Waleska on Lemmy... but, yeah. This is just the story all over North Georgia right? No one wanted to live in the mountains until all of the sudden you could work from anywhere. Now everyone earning city and suburb pay is happy to live an hour farther out than they were before.
Being able to buy a $200,000 house in the town I live in would change my life so much.
82%, feel lucky. I bought my house in 2015 for $85k. Last assessment was almost $300k
My janky duct tape together house I bought in 2010, that was built in '58 was 98k. In 12 years I sold it at 280k, with it still technically being out of code. My house was the cheapest sold in the neighborhood, some selling for 320k. It's insane.
Friend of mine was saving up for a house 5 years ago. Prices have gone up almost 150%
Yeah that was me too... I FINALLY got to the point where I could realistically start looking, got the pre-approval and everything just after COVID started... People had already starting WFH and moving away from where they worked and investment companies kept buying and now I'm still living in someone else's garage because prices went through the roof pretty much as I was looking...
Of course once you mention WFH everyone gets defensive and claims this was a trend, but those charts are the same everywhere. Houses in 2018-19 were often less than half of what they cost now...
Y'all realize this is a bubble, right? I almost feel sorry for these investors, gonna have their ass handed to them in the coming decade.
The rental aspect isn't a bubble. Until they start viciously taxing single-family home rental, home prices are going to stay high because they're not being bought as homes but as assets for rent-seeking.
About everywhere... In Toronto it's now 1 million+. In Vancouver it's now 2 millions+
Right but OP is talking about a house in Waleska, Georgia, which has a population of 921 (as of 2020 census). Not really on the same level as Toronto or Vancouver!
Houses in my neighborhood are up 150-200%.
If it makes you feel any better, that house would sell for at least double that price where I live.