I am currently searching for a) a new (read: as opposed to “current” - not “brand new”) cheap, home, b) a new (read: see previous) condo, or c) a place to rent, and I am running into a slew of problems.
First problem: The housing market is too damn overweight right now. People with $60,000 homes are selling them - or at least trying to sell them - for $160,000. Interest rates are going up, and home prices are eventually going to drop. Still, people think that because their neighbors paid a $100,000 premium on their home that they should be entitled to receive that same premium when selling theirs. I want to buy a home, but my purchasing power has decreased due to the new, higher interest rates, and the super inflated home prices.
Second problem: Condos are going through the same cycle that houses are going through. The only difference is that with a condo you have to pay for condo dues. I love condo life - but now most condominiums are going for a premium. If you find a condo that is not in an apartment-like complex - good luck getting it for a fair price. Still, you can get “more” of a house with a condo for the same price of a house. That, of course, means you give up your rights to having any feeling of true homeownership - and in some cases it feels no different than living in an apartment.
Final problem: WTF is the deal with “income-restrictive housing?” It seems like everywhere I look, the nice apartments have an “income restriction.” Meaning - if you make more than $32,000, you can't live here. I have found 4 apartments that I like in West Bend… all of which are income-restrictive. If you know of a good 2 or 3 bedroom apartment in the WB that allows people who make a little bit more money to live there - please, point me in the right direction. I feel like a lost pup at this point.
If you see the 92.5 truck parked on your street with a bunch of clothes doubling as window blinds… that's just me waiting for the housing market to crash.