The most prestigious law school admissions discussion board in the world.
|
 |
 
|
someone explain how so many people are buying $3-4 million houses
Poast new message in this thread
Date: August 15th, 2018 2:45 PM Author: Chocolate office codepig i dont understand this, there aren't that many people who can afford this even with family help
but these new construction houses keep being build and sold left and right |
Date: August 15th, 2018 2:46 PM Author: diverse duck-like rehab elastic band lots of people can afford that. most people are rich, bro (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36621597) |
|
Date: August 15th, 2018 2:49 PM Author: Citrine Zombie-like State Around 20-25% of them are in fact all cash buyers.
I'd guess another large portion have gigantic mortgages, most likely ARMs, and qualify based on lawyer/doctor type dual incomes. |
 |
Date: August 15th, 2018 2:50 PM Author: Chocolate office codepig jfc (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36621624) |
|
Date: August 15th, 2018 2:50 PM Author: Aromatic tanning salon personal credit line are you not familiar with ACCB (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36621617) |
|
Date: August 15th, 2018 2:51 PM Author: Maize knife interest-only loans (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36621628) |
|
Date: August 15th, 2018 6:07 PM Author: Vibrant purple kitty Smart (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36622791) |
|
Date: August 15th, 2018 2:52 PM Author: arousing slate area lettuce I used to drive around west Los Angeles and marvel at the sheer number of people who have the money to purchase a 2m+ home. (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36621632) |
|
Date: August 15th, 2018 2:53 PM Author: Chocolate office codepig it doesnt make any sense (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36621644) |
|
Date: August 15th, 2018 2:52 PM Author: Slimy Bright Lay Brethren http://ontheworldmap.com/china/china-location-on-the-asia-map.jpg (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36621640) |
|
Date: August 15th, 2018 6:06 PM Author: Topaz Comical Institution (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36622783) |
|
Date: August 16th, 2018 12:46 AM Author: Avocado whorehouse (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36624976) |
|
Date: August 15th, 2018 6:05 PM Author: Swashbuckling Keepsake Machete Kitty Cat They're all going to be sold for much cheaper in the next recession. (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36622780) |
|
Date: August 15th, 2018 6:06 PM Author: Vibrant purple kitty You bought a house a while ago, you sold it for $1 million. You roll that into the new house and your HHI is $500k. (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36622787) |
|
Date: August 15th, 2018 6:16 PM Author: Chocolate office codepig congrats! your property taxes alone are now $50k. (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36622832) |
|
Date: August 15th, 2018 6:16 PM Author: Vibrant purple kitty Spreadsheet says you can afford it! Here are the keys! (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36622836) |
|
Date: August 15th, 2018 6:07 PM Author: mildly autistic domesticated private investor they're all egeneral contractors who made their money building houses for other millionaires. once somebody realizes what's up the whole thing is gonna topple (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36622790) |
|
Date: August 16th, 2018 12:51 AM Author: greedy aphrodisiac lodge (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36624996) |
|
Date: August 15th, 2018 6:08 PM Author: grizzly nowag can confirm at least a thousand of these homes near me and all are bought and sold like flapjacks by boomers from new jersey and arizona. (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36622794) |
|
Date: August 15th, 2018 6:16 PM Author: Transparent Abnormal Regret Indian Lodge (((leveraged))) to the hilt (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36622834) |
|
Date: August 16th, 2018 12:41 AM Author: Chocolate office codepig (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36624943) |
|
Date: August 16th, 2018 12:50 AM Author: Insane partner there are tens of thousands of big law attorneys, tens of thousands of doctors, tens of thousands of tech sector bros, tens of thousands of rich kids with rich parents, tens of thousands of people with 1m+ equity in their current homes that need to move.
the population is increasing and that includes the rich.
also, the economy is doing well so people have more money on paper right now. in theory the relative price of a million dollar house is much cheaper given inflation, stock growth, etc. |
|
Date: August 16th, 2018 8:05 AM Author: Aromatic tanning salon personal credit line Salarycucks cant really afford 3m dollar homes. (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36625622) |
|
Date: August 16th, 2018 8:44 AM Author: cracking stubborn garrison alpha In general you’re right but it depends what you mean by “afford” (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36625667) |
|
Date: August 17th, 2018 1:44 PM Author: Swashbuckling Keepsake Machete Kitty Cat Retarded to take significant debt to pay for a house like that.
a) no one needs a 7 figure house anywhere, let alone a 7 figure house several times over.
b) anyone with a brain realizes the economy is doing well but it won't last forever. People who are stretching themselves to get these houses will be losing them in the next downturn. |
|
Date: August 16th, 2018 8:43 AM Author: cracking stubborn garrison alpha My friend lives near Fort Lauderdale which is fine but not super fancy and you can drive around and pass canal after canal filled with 1 million+ dollar boats. And this is just what these people are spending on BOATS. Always try to figure out what all these people do for a living (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36625665) |
|
Date: August 16th, 2018 10:35 AM Author: arousing slate area lettuce Boat salesmen? (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36626020) |
|
Date: August 16th, 2018 8:46 AM Author: Pontificating turdskin quadroon (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36625669) |
|
Date: August 17th, 2018 1:49 PM Author: Charcoal At-the-ready Hall santa monica is now basically all .01%-rich or elite foreigners. it's absurd. like $6m for a 2000 sq ft place that isn't total shit. (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36633438) |
|
Date: August 17th, 2018 1:51 PM Author: supple station All cash Chinese buyers (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36633453) |
|
Date: August 17th, 2018 1:53 PM Author: floppy metal theater 30 year old boomers (http://www.autoadmit.com/thread.php?thread_id=4052657&forum_id=2#36633463) |