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Comment by browningstreet | Hacker News Reader

Where?

Three years ago, I could've bought a house at 60% of current market rate now in my town of 700K. I wasn't in a position to buy that house (under median) then, and I don't want to buy it now given market conditions. The other issue is that the median housing price in my city is now above the FHA limit for this area... so no 10% down mortgages. Again, that wasn't the case 3 years ago.

I also need to replace my lease vehicle next year, so there are two challenging life purchase decisions pending at the moment, and market/global conditions are putting pressure on both.

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Where? Almost everywhere except for a few high cost cities. Take your pick.

There are currently 71 homes for sale in Nashville, TN at or under $175K.

Well, if Nashville is like Tucson... or any other similarly sized city, those houses are likely not in a great part of town. We have 203 houses and condos under $175k in Tucson right now. I wouldn't live in any of them for their location(s) alone. Suckers from out of state have been buying... and I am sure regret the decision when they have homeless, tweakers and other ne'er-do-well's sleeping in the back yard or stealing anything that isn't bolted down.

Zillow has been buying in my neighborhood, and they overpaid... plain and simple. The offers my neighbors received were too good to be true. I mean, $50k to $150k over the z-estimate. Everyone in Tucson is laughing at Zillow all the way to the bank. Prices are going to crash here and its going to be brutal.

Are there? I'm seeing two, one of which is 1b1b 588 square feet and not connected to water/sewer and the other looks rather rough.

[1]https://tinyurl.com/t27bjyej

Ahh, you see, I have an ex-wife and a child I share custody with. I'm in the place that I'm in. Others are probably similarly constrained geographically.

I do WFH -- someday, I may head away from my current place, but I'm not that flexible yet.

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