1234nameuser

1234nameuser t1_j5tfg8s wrote

Reply to comment by KindaEgotistical in The inventory of houses suck by KindaEgotistical

Inventory is really all that matters. The pandemic was easily the largest demand pull our economy has seen in history (unsustainable low rates) so we know recent prices are entirely unsustainable on demand alone.......which has now cratered to all time record lows, naturally.

With money literally raining down from the sky (PPP loans being the scam of the century) everything escalated quickly and it's literally guaranteed there will be a long painful hangover. Let's all enjoy the ride.

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1234nameuser t1_j5tdt6n wrote

Reply to comment by silasmoeckel in The inventory of houses suck by KindaEgotistical

Even if rents are up 1000/mo above normal (they're not) that's still just 12k/yr. Everyone expects New England to fall around 10% in 2 years time.

Even with a $300k home that means it's better to rent at excessive prices for 3yrs in order to buy once prices / interest rates have aligned.

Date the rate, marry the house. Inventory is what matters most though to ensure a good purchase and there's simply not enough around to bother.

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1234nameuser t1_j5td0rg wrote

Reply to The inventory of houses suck by KindaEgotistical

People, do NOT buy a house right now. Is anyone listening to the Fed? They've literally guaranteed they will keep rates high until asset prices continue to fall.

This is the lowest point of the season for inventory in New England. Couple that with the lowest recorded volume of both homes being sold / homes being listed = no go. There is no trust in the recent price / sqft at this low of inventory, it's smoke and mirrors.

Other states are already seeing drops up to 15% in 8mo times from the mid-2022 peaks. That's simply unheard of historically. As other states cheapen more people can spread out frm the New England area and inventory will increase. Sit on your lease and wait for inventory.

"Date the rate, marry the house" means your entry price is what matters for long term asset growth.

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1234nameuser t1_j1yzhdk wrote

Reply to Thoughts on Bridgeport? by Neckties-Over-Bows

I've enjoyed the parts I've been through. A more low key commuter city in general these days I guess.

Fewer drivers trying to kill folks between the office & distant exurbs. Can actually afford to eat out on middle class salary (not just italian / seafood). Decent rents for CT.

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1234nameuser t1_j1u53fb wrote

Reply to comment by IndicationOver in Tiny homes for Ct? by Redsmedsquan

that article literally states 3 reasons to not buy right now, the exact opposite of it's headline

1.) catching a falling knife

2.) buying immediately after the peak

3.) record low inventory + record low sales = unstable prices

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1234nameuser t1_j18bxus wrote

Reply to State Police officer involved in crash on Rt 6 in Chaplin by Prime_Cat_Memes

Well these comments did not age well with more detail in the morning. Condolences to the victim, but they really should be more explicit in their public notices for the sake of public safety......which is by far the priority here.

This sounds like speeding + no seatbelt and would be good for public to be aware of any of the dangers with both of these in this immediate area.

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1234nameuser t1_j0yth4p wrote

Reply to Heat Pump Cost by raidflex

Shop around, but I'd warn be prepared to delay it until mid-2023 / 2024.

Everything is overpriced right now no matter how many quotes you get.

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1234nameuser t1_j0g5p9k wrote

Reply to CT electricity prices are spiking this winter. What's going on? by ctkyle

Long-term failure to plan for and build out local energy supplies that would prevent CT from being held captive by international oil & gas cartels.

Greed may be a factor, but there's tons of investor owned utilities all throughout the US with far lower rates of generation & supply than Eversource.

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