Housing in Phoenix

jereseib

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Nov 12, 2015
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Des Moines
Sold my townhome in Des Moines about a year ago. All it took was one weekend on the market and a Sunday open house and I had 3 offers to choose from. Five years ago I would have been lucky to get $90,000 out of, sold it for $126,000 after I paid $120 for it back in 2006.
 
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Gunnerclone

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Jul 16, 2010
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Californians looking to move away from what the California mess

The same thing is happening in CBus and I doubt it’s from Californians moving away from a mess, whatever that means.

This is simple supply and demand stuff. The supply is at historically low levels in almost every big city. No one wants to sell because it’s hard to buy so the cycle self perpetuates. The only people selling are either leaving the area completely or building new.
 

Drew0311

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Nov 7, 2019
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Norwalk, Iowa
The same thing is happening in CBus and I doubt it’s from Californians moving away from a mess, whatever that means.

This is simple supply and demand stuff. The supply is at historically low levels in almost every big city. No one wants to sell because it’s hard to buy so the cycle self perpetuates. The only people selling are either leaving the area completely or building new.


I think a lot of it has to do with States high taxes on business's and those business's move to a lower tax state.
 
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Gunnerclone

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Jul 16, 2010
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I think a lot of it has to do with States high taxes on business's and those business's move to a lower tax state.

That’s certainly not true in Ohio or Iowa, both high tax states. People are fleeing the rural areas and moving to cities where there are actual jobs and schools that aren’t dying.
 

Drew0311

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Nov 7, 2019
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Norwalk, Iowa
That’s certainly not true in Ohio or Iowa, both high tax states. People are fleeing the rural areas and moving to cities where there are actual jobs and schools that aren’t dying.


Iowa may be a high tax state. However, they will give you a 5-10 year tax break to move your company to Iowa.
 

KnappShack

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May 26, 2008
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Parts Unknown
Still in Chi-town Knappster?

Yep. My wife keeps talking about leaving, but then keeps getting pregnant

We'd love to hit the coast again, but prices are pretty high in areas we want to be. I sold my condo in 2017 and it just sold again for an additional $150k. (If everyone is escaping California then how are home prices spiking?)

Thinking we'll be out of here by 2023 at the latest.

If we're still here by 2024 we'll just have to accept that we're pretty much stuck here.
 
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Cyched

CF Influencer
May 8, 2009
25,777
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Ankeny
Yep. My wife keeps talking about leaving, but then keeps getting pregnant

We'd love to hit the coast again, but prices are pretty high in areas we want to be. I sold my condo in 2017 and it just sold again for an additional $150k. (If everyone is escaping California then how are home prices spiking?)

Thinking we'll be out of here by 2023 at the latest.

If we're still here by 2024 we'll just have to accept that we're pretty much stuck here.

Need to have a word with the guy that keeps knocking her up :p

Hopefully this is a short term sugar high from the pandemic and you can find a good deal out in Cali. Worst case scenario you’re stuck a few hours from Trice.
 
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iowastatefan1929

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Oct 26, 2006
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We are coming to the end of a 40 year epic bull run for USA assets. Long bond was as 16% in 1980 and has travelled all the way to zero. Next phase is called the doom loop, long bond market yields rise due to supply chain and commodity inputs rising, central banks panic and buy the long bond, currencies go down, long bond market yields rise due to supply chain and commodity inputs rising, central banks panic and buy the long bond, currencies go down. See how that works? The only way out of the doom loop is raise interest rates which will crash equity and housing markets, and we all know the central bankers and the politicians dont have the guts.

Just look at what is happening to the Yuan, its rising like it never has and its just getting started. Bad omen.
 
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iowastatefan1929

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Oct 26, 2006
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You may be able to get a house at a cheap rate, but you will pay for it with rising food and base metal inflation and energy inflation,

Yes of course CPI is not going anywhere fast, its called a margin squeeze and a liquidity trap. But the CPI is mostly service prices, the Fed will have a heck of time getting inflation up like they are trying because technology is deflationary. The jobs arent coming back and the UBI payments will crash the currency, not because of those themselves, but because of 40 years of fiscal policy.

The party is over folks sorry to break it to you, China trapped us, and they didnt even have to do the anything, more like we trapped oursevles and now China is like, yes, lets go ahead and and start allowing our currency to rise (cheaper to import) and will use those 800b in Treasuries to force the central banks hand at our most vulnerable moments.
 
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clonechemist

Well-Known Member
Apr 3, 2007
721
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Philadelphia
Yep. My wife keeps talking about leaving, but then keeps getting pregnant

We'd love to hit the coast again, but prices are pretty high in areas we want to be. I sold my condo in 2017 and it just sold again for an additional $150k. (If everyone is escaping California then how are home prices spiking?)

Thinking we'll be out of here by 2023 at the latest.

If we're still here by 2024 we'll just have to accept that we're pretty much stuck here.

'Nobody goes there anymore. It's too crowded' - Yogi Berra
 

Gunnerclone

Well-Known Member
Jul 16, 2010
58,079
53,547
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DSM
We are moving from Iowa to the Twin Cities are are currently looking at houses in the $400k-$500k range. They still go fast even though our realtor says we're one price-point about the hottest market. Haven't made any offers yet but I'm interested to see how fast anything we do offers goes.

$400k is the cut off point for total insanity in CBus. Will be interesting to see how you get along in that price range.
 

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