Crash? That doesn't make sense. Look at inventory, prices aren't falling even though demand has gone down but supply is incredibly low. Very few people are selling. Prices have stalled out meaning they aren't rising as fast as they were the past 5 years. Only way waiting makes sense is based on the belief that if you are financing you expect interest rates to fall this year or next. I'm so glad I bought my home in 2018 and was able to build equity, cash it out and use it to buy a second home. Now I rent out my first property

I've always thought it was a good way to demonstrate a grasp the spatial awareness of the vehicle.

On the flip side, I had to back up like 100ft in a straight line during my driving test. I haven't come close to doing that since.

At the time, I figured it made sense. What if I'm trying to get away from a bad guy and I go down an alley, but then the bad guy is at the opposite end of the the alley because he anticipated my move? Now, I realize that I overestimated the likelihood I'd ever need to do that. Total waste of time.

Urban planning in general in the States is dog shit. And the few areas that are dense in homes, businesses, walkable you have to be making close to or six figures +. Realistically speaking, this notion that everybody should and will live in a single family house is absurd and environmentally unsustainable. I would love to see new construction based on grid designs you would find in Europe

Your recommendation has better reviews than the other. If you want to privately send me your name I will tell them you referred me. Not sure what that would get you.

I’m singing that in my head as I read this thread

Honestly I’ve given up as it looks like every car is flashing me.

Agreed with all of this.

Some good news here: https://www.eastbayri.com/east-providence/stories/commercial-residential-developments-continue-to-rise-around-east-providence,110106

I bought a 2 family in 2014 for $190k. Renter upstairs paid half the mortgage, so I was able to save a lot more. Had our first kid there. Sold for $250k in 2018 to buy a much bigger, more permanent house. The $60k we made on the sale went a long way towards our down payment.

That house sold again for $400k last year. If you can find an affordable multi-family in good shape, I would definitely recommend it.

What I don't understand is that RIs population is basically unchanged from 2000, so where is the demand coming from? Now it's possible there has been a structural housing deficit all that time, but what is different about this moment in time that it is rising to the level of a "crisis"? Even if the demand is coming from outside the state (Boston commuters?) it's still being offset by people leaving the state, because, again, the population isn't changing. Unless the overall housing stock has eroded I don't understand how the state as a whole can be too expensive. Certain pockets, sure, we'd all love to live on Rumstick Point or Ocean Drive, but the whole state? I'm not saying it's not true, necessarily, but there's a piece of the puzzle I'm missing.

Oh yes! Good example - this is a good reason to do it too. Or Turkeys

Thank you ❤️

Thank you :)

Oh wow okay, thank you. I didn’t know that :)

I went out and got salt. :) thank you

Supply and demand. Little supply means they usually get what they ask for. And now that the COVID rent moratorium is over, landlords are being really picky about new tenants.

💀 my bad dopey nip nips

It brings me great displeasure to read about you and your friend's misfortune. I hope your complaints get handled with care but from the looks of it the whole process appears very muddled and difficult to navigate with any form of earnest fact finding.

Hope you stay ok.

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I think I got lucky when I took my test. The instructor only had me reverse in a straight line along the curb.

I didn’t have to parallel park.. but that was back in 2013

Yes. And homes were much cheaper. When I said the cost to buy has never been higher, I meant it literally.

Take a home that was valued at $250K at the peak of the last RE bubble. Even if that home were on sale for $250K today, the actual cost of that home is significantly higher than it was at the height of the last bubble because interest rates are significantly higher today than they were then. Prices are higher too. And if you add the impact of interest rate increases to the price increases the housing market has seen over the last 12-18 months on monthly cost to buyer (instead of just focusing on asset price inflation), the rate of change is just unprecedented.

Parallel parking wasn't on the test for me and gotta say I wish it did. It's a useful skill and knowing how to do it before you're trying to Parallel park on a busy street with pissed off drives would save a lot of stress and a lot of people hitting parked cars

I am also hoping for a bubble pop but unfortunately I do not think it will come, at least not in the same way that it did back in 08. Sure the rate at which prices have increasing will have to stop but it doesn't mean that prices are going to crash.

The 08 bubble was mostly driven by the subprime loans being given out and interests were not as low as what we had for the past few years. That means that when prices decreased people were quickly underwater with big loans that they were already too stretched to pay. So as people got foreclosed or had to sell supply increased as demand decreased since it became an overall economy crash and people and institutions were not buying as much.

But the run up on prices during COVID is not subprime. It is mostly people that could afford it or just went a bit over budget but given the low interest rate a modest decrease in price will not be a problem for them. Unless we have a massive wave of layoffs and people cannot pay anymore we will not have the same level of foreclosures that drove prices down las time. Also, this time so many houses were bought by big corporations as investments so they will not default the same way an idividual might.

We are seeing layoffs but they seem to be concentrated in the tech sector so on higher-paid individuals so even if we see some foreclosures they are going to be in the upper range of the market. So unless the whole economy collapses I don't think we will have a drastic bubble pop.

This! Before I knew how to parallel park, I side swiped a car being to close in a parking lot when I first got my license. This is so true. I wasn’t taught how to parallel park, I taught myself