Offside (General Discussion)

boldfox88 said:Other than that? That is simply a fundamental principle of a market economy. ☕

Yeah, they're all five stars, but it's not really the same thing. I mean, you have new construction where everything has concrete lintels and stuff, versus this place which is basically dry stone without any binding or lintels. I guess you can't really say the square footage is identical, and maybe using the argument that labor costs are higher up there doesn't quite work since the price per square foot is almost the same anyway. 😁

I don't really care, personally. I don't own one, and even if I did, I probably wouldn't pay the same because they aren't worth the same value. But, I suppose there are plenty of people out there willing to pay for it—either because they don't know any better or just because they want to. It seems obvious, since the price stays steady and mostly just keeps climbing. 😁

Yeah, it’s pretty rough. I spent seven years living in rentals—you know how it goes, just moving from one spot to the next—and you really can't build a life like that. So, I finally pulled the trigger two years ago. I dropped 120,000 bucks, plus another 40k just to get things sorted. It’s a ground-floor place in Miami, about 1,100 square feet, plus a 200-square-foot garage that's already legal and attached to the house, so there's potential to expand the layout whenever. On top of that, there's a decent 2,700-square-foot yard.

Now I’m planning to do some landscaping and exterior work—add a 270-square-foot patio, two parking spots, a terrace, and maybe some perimeter walls. Basically, a first pass at making it look decent. But honestly? The cost of materials has me terrified—prices have gone absolutely insane lately. I've got a contractor coming by in a few days to walk through what needs to be done, and we'll see, but I'm seriously worried about what the final damage is going to be.

Adam Williams2 said:Yeah, they're all five stars, but it's not really the same thing. I mean, you have new construction where everything has concrete lintels and stuff, versus this place which is basically dry stone without any binding or lintels. I guess you can't really say the square footage is identical, and maybe using the argument that labor costs are higher up there doesn't quite work since the price per square foot is almost the same anyway. 😁

I don't really care, personally. I don't own one, and even if I did, I probably wouldn't pay the same because they aren't worth the same value. But, I suppose there are plenty of people out there willing to pay for it—either because they don't know any better or just because they want to. It seems obvious, since the price stays steady and mostly just keeps climbing. 😁

The masses are packed in there like fans at a Real Madrid game; God knows where they get the cash, but everyone seems to be popping up out of nowhere with new real estate. Paid for in cold, hard cash. Notaries over the last six months have been working harder than ever—so much paperwork, buying, and notarizing that it’s actually wild. At this rate, I'm just waiting for someone to show up and buy Chelsea FC.

San Diego hit the 3,000 dollar mark🤣🤣

Adam Williams2 said:Yeah, they're all five stars, but it's not really the same thing. I mean, you have new construction where everything has concrete lintels and stuff, versus this place which is basically dry stone without any binding or lintels. I guess you can't really say the square footage is identical, and maybe using the argument that labor costs are higher up there doesn't quite work since the price per square foot is almost the same anyway. 😁

I don't really care, personally. I don't own one, and even if I did, I probably wouldn't pay the same because they aren't worth the same value. But, I suppose there are plenty of people out there willing to pay for it—either because they don't know any better or just because they want to. It seems obvious, since the price stays steady and mostly just keeps climbing. 😁

When things go south economically, everyone seems to dump their money into real estate. It's not just us. I remember when the pandemic hit—I was totally clueless, just sitting there thinking, "Man, I wish we'd bought an apartment a few months earlier." Then, after two years of COVID, my place from 1960 actually outpaced inflation and is worth 10% more now.

But man, there are so many people here who say they're selling, but they aren't actually selling—they're just waiting for some sucker to throw an extra 30-40% over the actual market value. And yeah, there are plenty of those folks.
I have a vacation house out where I live; out of the ten closest neighbors, maybe six of them have been trying to sell for 10 or 15 years. You can't just sell a piece of your life, right? So you aren't really selling—you're just gambling against the walls.

Seriously, can someone actually drop $120k-$150k on something that’s fifty years old? Like, who in their right mind is handing over that kind of cash??

I’ve been scrolling through Craigslist for a bit, looking at a few apartments for sale in my neighborhood, and absolutely nothing is listed under $120,000. Most of these buildings were put up around '65. I just saw one—it's 560 square feet on the fourth floor, and honestly, looking at the photos, the last time anyone touched it was back in the Yugoslavia era. We're talking outdated trim everywhere, old hardwood floors, vintage furniture, ancient windows... and they want $160,000.

coastalheron12 said:When things go south economically, everyone seems to dump their money into real estate. It's not just us. I remember when the pandemic hit—I was totally clueless, just sitting there thinking, "Man, I wish we'd bought an apartment a few months earlier." Then, after two years of COVID, my place from 1960 actually outpaced inflation and is worth 10% more now.

But man, there are so many people here who say they're selling, but they aren't actually selling—they're just waiting for some sucker to throw an extra 30-40% over the actual market value. And yeah, there are plenty of those folks.
I have a vacation house out where I live; out of the ten closest neighbors, maybe six of them have been trying to sell for 10 or 15 years. You can't just sell a piece of your life, right? So you aren't really selling—you're just gambling against the walls.

But hey, whatever. I’ve got this little windfall from my kids—money that piled up from family stuff, birthdays, christenings, you know, bits and pieces sent their way—and it ended up being something like 30,000 bucks over a few years. What am I supposed to do? Leave it in a bank account for 20 years until they stop breathing? Inflation would eat half of it. So, I’m looking at picking up a plot of land. Her folks will chip in another 10 or 15k, and that should be plenty.

For instance, my parents picked up some land near Miami less than 20 years ago for 20,000 bucks, and it sold two years ago for 40,000.

Generally speaking, the construction industry here seems to struggle with volume, and when they actually do manage to build something, the prices are frankly astronomical; I suppose that’s why those older buildings remain so highly valued. If they were to develop a massive new district over by the Kopilica area, you'd likely see property values in San Diego, near Solin Hill, start to dip significantly. At least, that’s my way of looking at it—I don't think anyone in their right mind would pay 3,000 square feet for an old unit if there was shiny new construction available nearby. 🤷

What’s your take on property taxes? To me, it looks like a solid remedy for fighting up inflated prices. It's far too easy nowadays to sit on overpriced land or a vacation home just for the sake of it when it doesn't cost you a dime to hold onto it.

Americans and real estate—honestly, it’s the greatest love story ever told.

Anthony Wright30 said:Generally speaking, the construction industry here seems to struggle with volume, and when they actually do manage to build something, the prices are frankly astronomical; I suppose that’s why those older buildings remain so highly valued. If they were to develop a massive new district over by the Kopilica area, you'd likely see property values in San Diego, near Solin Hill, start to dip significantly. At least, that’s my way of looking at it—I don't think anyone in their right mind would pay 3,000 square feet for an old unit if there was shiny new construction available nearby. 🤷

Construction is absolutely exploding in my neighborhood right now. It feels like you can't walk a block without seeing a crane. Right now, there are three massive apartment buildings just about finished, and they’ve already broken ground on three more. On top of that, they wrapped up four entire buildings last year alone. That’s ten new buildings in just over a year. It's moving incredibly fast.

Take a look at some of those newer developments popping up around here, built since about 2015. It’s honestly wild. Half the apartments are just sitting there totally empty. You look at the intercoms, and there aren't even names listed—just blank spaces. And don't even get me started on the ground floor retail spots. Half of those commercial spaces haven't seen a single customer since the contractors packed up and left. It's eerie.

Nobody is buying apartments right now, and nobody is renting out commercial space either. The people who actually try to lease something get absolutely hammered because the rent is astronomical, and there’s zero chance of seeing that money again. At this point, the only businesses staying afloat are bakeries and betting shops.

Justin James10 said:Americans and real estate—honestly, it’s the greatest love story ever told.

My German sister has completely corrupted my worldview. She approaches life with this mindset where owning a car is considered "unnecessary," and she thinks spending an entire lifetime as a renter with roommates is perfectly fine. To her, having a car or owning a home is viewed as nothing more than an indulgence. Listening to her honestly brings me to the brink of a nervous breakdown. These people up there don't need anything; they label everything as a luxury. Then they have the audacity to claim they are living well while saving money. Of course they are, because they buy groceries on sale, obsess over how much cheaper things are than they are here, split all their housing costs down the middle, and decide that nothing else in life is essential. I personally cannot fathom a life where I am not the owner of my own vehicle and my own home. I think I would lose my mind. They call it luxury, but I tell them it is a necessity in the modern age.

Most of you probably live in actual, functioning cities.

Down in places like Petrinja and Sisak, real estate prices have gone absolutely insane, yet since the earthquake, there hasn't been any real reconstruction. It feels like they’re just winging it when it comes to basic medical facilities, social services, schools, and pretty much every other essential institution.

I mean, things might be somewhat stable in Sisak, but in Petrinja, you're basically left with nothing despite the skyrocketing costs. You've got contractors working under the table trying to squeeze "employers," there's a massive shortage of laborers, and finding building materials is a total nightmare...

Kyle Campbell4 said:My German sister has completely corrupted my worldview. She approaches life with this mindset where owning a car is considered "unnecessary," and she thinks spending an entire lifetime as a renter with roommates is perfectly fine. To her, having a car or owning a home is viewed as nothing more than an indulgence. Listening to her honestly brings me to the brink of a nervous breakdown. These people up there don't need anything; they label everything as a luxury. Then they have the audacity to claim they are living well while saving money. Of course they are, because they buy groceries on sale, obsess over how much cheaper things are than they are here, split all their housing costs down the middle, and decide that nothing else in life is essential. I personally cannot fathom a life where I am not the owner of my own vehicle and my own home. I think I would lose my mind. They call it luxury, but I tell them it is a necessity in the modern age.

Total Alkar Fury 😁 The real issue isn't that people don't want their own homes; it's that here in America—due to a century of historical instability in this region—real estate is used as a massive vehicle for investment (and let's be honest, money laundering) because we aren't traditionally inclined to invest in actual businesses. This drives prices through the roof and makes it nearly impossible for "regular" folks to actually buy a home.

Justin James10 said:Total Alkar Fury 😁 The real issue isn't that people don't want their own homes; it's that here in America—due to a century of historical instability in this region—real estate is used as a massive vehicle for investment (and let's be honest, money laundering) because we aren't traditionally inclined to invest in actual businesses. This drives prices through the roof and makes it nearly impossible for "regular" folks to actually buy a home.

That is certainly a valid point. I also find myself disliking the other extreme that Kyle Campbell4 describes—that forced lifestyle of constant nomadism where people claim you shouldn't tie yourself down to anything. However, what you're saying holds weight: for most people, the only reliable investment strategy they know is to buy property and rent it out.

boldtiger7 said:That is certainly a valid point. I also find myself disliking the other extreme that Kyle Campbell4 describes—that forced lifestyle of constant nomadism where people claim you shouldn't tie yourself down to anything. However, what you're saying holds weight: for most people, the only reliable investment strategy they know is to buy property and rent it out.

Why? Because the American Dream for the average American is to own real estate and live off the rental income! 🎉 😵

It’s our ultimate goal and the standard we strive for. Isn't it true that as soon as anyone makes a bit of money, their very first instinct is to buy some property and start renting it out?

Say whatever you want, but real estate is never going to fail. It’s nothing like those stocks or cryptos you guys obsess over. When the market takes a dive, half the people holding those assets end up in therapy just watching their entire stake evaporate into nothing. With a house, you always have the option to rent it out or sell it.

Kyle Campbell4 said:Say whatever you want, but real estate is never going to fail. It’s nothing like those stocks or cryptos you guys obsess over. When the market takes a dive, half the people holding those assets end up in therapy just watching their entire stake evaporate into nothing. With a house, you always have the option to rent it out or sell it.

So then people act surprised when they realize why housing prices have become so inflated! 👍

Kyle Campbell4 said:Say whatever you want, but real estate is never going to fail. It’s nothing like those stocks or cryptos you guys obsess over. When the market takes a dive, half the people holding those assets end up in therapy just watching their entire stake evaporate into nothing. With a house, you always have the option to rent it out or sell it.

Where the hell were you in 2008?

Kyle Campbell4 said:Say whatever you want, but real estate is never going to fail. It’s nothing like those stocks or cryptos you guys obsess over. When the market takes a dive, half the people holding those assets end up in therapy just watching their entire stake evaporate into nothing. With a house, you always have the option to rent it out or sell it.

Sure, it can. Maybe we're talking about property in an area that's basically ghosting itself through massive depopulation—or maybe there's a war or some massive natural disaster hitting the exact spot where the building stands. In that case, yeah, real estate can absolutely tank. There are actually places where all three of those things have hit at once.