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MDPhotog

Thanks for reminder


UTDoctor

Did you know Middle Tennessee home prices are some of the highest in the whole state? Thanks for signing up for ~~Cat Facts~~ TN Real Estate Facts!


follnomenal

I want to get off Mr. Bones’ Wild Ride.


S0_Crates

Good thing I got that 2% raise every year. Phew!


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TheToddAwesome

You guys are getting paid?


S0_Crates

Just looked at the Green Hills apt I lived in from 2008-2011 (2 bed, 2.5 bath). It cost us $1150/mo back then. Now $2490. JFC I dunno how new graduates survive now. And we had it rough in the recession.


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S0_Crates

remodel or not that's insanity.


KevinCarbonara

Not from my employer. Only from job hopping.


ZeldaZealot

2.5% here! I’m Mr. Money Bags, living it up in my cheap-ass condo I couldn’t afford to buy now!


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ayokg

I do this all the time when I want a good cry


ADTR9320

You'll own nothing and be happy! /s


ayokg

We actually are pretty happy with our current rental situation. Landlords leave us alone. We have cheap rent for East Nashville. I can garden. We can paint the walls as long as we paint them white before we move out. Just, ya know, that constant black cloud of "when will the landlords decide they want to sell the house?" hanging over our heads hehe hoho


ProbablyInfamous

> "when will the landlords decide they want to sell the house?" This is happening to me after years of being in the same location. After having as much freedom as my former situation allows, looking for my own property (or even a new rental) right now is disheartening. Hopeful that in a few months the market has cooled off even more.


ZeldaZealot

If you are in the position to buy (lol, in this economy?), you might be able to get first dibs on the sale, that’s how my friends were able to buy their house.


OGtigersharkdude

100 ... 100 ... 100 ... 600 Tf?


BeetsBy_Schrute

I’m over in Knoxville. Exact same. 100 in 2016, currently 500, what the actual fuck


McShovin91

Yup. My wife’s grand parents bought their house for 180k in Brentwood in the 90s. Now valued at 1.2MM. No updates or upgrades. If only I weren’t a small child in the 90s.


fakeDIY

My parents bought my childhood house in Brentwood for $180k in 1995. Sold in 2005 for $250k. Current (likely low) estimate is $700k. 🙃


notleonardodicaprio

was hoping to buy a house when my lease runs out next year but that's looking less and less feasible :/


Stopmadness99

Glad the Legislature used most if the session to address culture War b.s. and not work on increasing supply of affordable housing.


beer_geek

Affordable housing? That's what brings *them* here... we can't have that... -state legislature, probably


0Bubs0

Who's them? Transplants from Cali and NY? That's exactly why they are coming because our housing is [more] affordable lol.


prophet001

Hilariously, the only *them* I've met thus far have been chucklefuck ideological refugees from the red areas of those states (also Oregon) who say shit like "drugs and homelessness have destroyed Portland!" and "schools here are so much better than the ones there!" (while motioning around at the brand-spanking-new Green Hill High). These people are fucking embarrassing.


agentile1990

I lived in and around Nashville / Murfreesboro from 2009 - 2022, and moved to Portland in October. There are homeless here just like there are in Nashville and the surrounding areas. I sold my car before I left, so I’m on foot / public transit all the time, so I’m in close proximity often. Not once in the 7 months of being here have I heard gun shots. I’ve never felt unsafe walking a mile down the road to Fred Meyer or waiting on a bus late at night. In my experience, Nashville has way more violent crime and feels way less safe than anywhere I’ve been up here.


tn_jedi

Statistics support this. TN is a poor state and Nashville a poor city no matter what the home prices say. Poverty brings crime.


TPWALW

I’m almost 100% sure beer geek was implying non-white people


beer_geek

No. The implication was that "them" can honestly be whoever Republicans are hating more at the moment in their idiotic onion of hate. It could be non-white, it could be poor white, it could be "woke suburban white housewives" or whatever their flavor du jour is. But their reliance on "them" is constant through it all.


TPWALW

dig it


nopropulsion

Can we talk about the color choice on the graph included in the article? Why are all the colors various shades of pink/purple?!


Not_Paid_Just_Intern

Because it's ~☆aesthetic☆~ Who needs informative readable graphs anyway?


puttzzznnnbluntzzz

They sure as fuck did - Dave Ramsey - Gary Ashton - another 10k realtors developers


sapiounicorn

If you look, most was from 2020 to mid-2022


Keekoo123

My neighbor has bought 5 houses in our little neighborhood of 44 houses. As soon as one goes up for sale he starts haggling. Used to have a lot of people that bought and stayed for years and now it's just mainly renters who don't care about the neighborhood. Dude is in his 70s. I just don't get it. How much money do you need?


Wildog27

“Just a little bit more…”


Shillen1

If you have an HOA you could establish a no rentals policy that grandfathers current owners but any future home purchases would not be eligible for renting. That's assuming the renters aren't already the majority. This is the type of thing that HOA's are great for but you don't hear a lot about. They stop your neighborhood from going to shit.


le_shrimp_nipples

I bought in 2017 and it has and will be one of the best things ive ever done. Im very lucky. Ive been trying to help coworkers buy homes too. It's just so rough now with the intrest rates as well. And TN completely gutted our first time homebuyer program. I really wish there could be a 1st time home buyer program that could allow buyers to include rental income from rooms they'd rent in the house to count toward their debt to income ratio.


v0gue_

I'm in a similar boat. I finally stopped listening to people telling me to wait out for a bubble pop. My mortgage payment in East is a few hundred less than the cheapest rent prices I can find in shittier areas of town. I honestly don't know how people can afford to live here. I would paycheck to paycheck and skipping meals if I were renting right now.


jlingram103

We bought in 2018 and I feel the same. If we were entering the market today, we couldn't even enter the city of the ballpark with the prices, especially the price we paid for our first home.


PreppyAndrew

I bought in 2020. I don't think I could buy my own house. Between the value going up 25% and interest rates.. I would basically have to choose between home or food.


Time2Nguyen

That type of program would make the market even worse. Look at what low interest rate did to our market, and add on the fuel of not actually even having the income to qualify for the mortgage alone


[deleted]

Not that it matters but a few caveats: 1) 2011 is the lowest the market has been in 20 years. The previous bubble peak was 2008 and prices didn't really recover until 2013. So if you measured this since 2008 you'd have the exact same data. It's a stupid difference but 10% year over year growth over 15 years sounds a lot better than 15% annually over 10 years. 2) Nationally over all markets, home prices are up 102%. The 20-City Composite Home Price Index is up 120% - this doesn't include sunbelt cities like Austin, Raleigh, Tampa and some of the other giant growers and includes cities like Cleveland.


Dame_Milorey

When's that bubble gonna pop, again?!


kudra_bandaloop

Idk been reading about it popping on this sub since at least 2015


tn_jedi

It's definitely become overvalued since then. Prices have risen way faster than services and infrastructure so ROI has been dropping. And if we raise taxes to increase ROI then Nashville won't be as cheap to transplants which will reduce demand.


McShovin91

It ain’t lol still high demand and they aren’t handing out loans to sub 500 fico scores like in the early 2000’s. It may dip, but don’t be a crash like ‘08.


tn_jedi

Things always change. East Bank was nice homes, then industrial, now stadium and soon expensive condos. I fully expect that when the next migration happens a lot of the condo blocks will become low income housing, because the next generation of young people may not go that route. We had white flight in the post war era, now we're seeing inward migration. But the population isn't growing so in 20 years who knows. We may get an influx of Florida climate refuges to fill the condo blocks.


infinitevalence

sadly never, unless Nashville and/or the US make a massive policy shift away from single family homes, and driving suberbs. Current zoning wont allow for the density of construction and types of construction needed to make constructing anything but "luxury" homes and condos.


modsarethebeesknees

Clarksville is still relatively affordable and nice


fruitybrisket

Out of state buyers are looking for those Wilco public schools or Nashville/Brentwood/Franklin private schools though.


modsarethebeesknees

Wealthier buyers do to a point. I myself went to a super high $$ private high school in the SF bay, and quite frankly the education wasn't what I'd want for my kids. Lot of spoiled trust fund kids, just as many if not more drugs/partying, and a massive sense of entitlement. Clarksville has schools from 5-9 in the greatschools rating system, so a happy middle ground for me. I want my kid around "regular folk", so they don't get too delusional about the reality of the world. All a matter of preference of course.


KevinCarbonara

But my stellar real estate agent Kaighleighie Notabubble told me this was a great time to buy


plinkaplink

Bought 2500sf in 2001 for $150k. Standard mid-century ranch. Comps now put it at $450k. I couldn't buy it now, but it'll help me retire.


Stitch_K

I bought a house in 2020 when things were just about to really go crazy. I bought a 3BR, 2Bath 1100 square foot home built in 2001 for 189k. A month afterwards, the market just went nuts and stayed nuts. I remember getting letters from those real-estate companies that just scoop up property not even 6 months in, asking to buy the house for 250-270k. Then a year later was getting letters for 320-350k. There wasn't any point in selling because even if i sold the house for 350k and made 100k+ in profit, I couldn't buy anything to replace it because most homes that suited my needs were in the 400k range, or there just wasn't any other smaller sized home. Which that is the thing that I really notice, no one builds smaller homes anymore. They're all Mcmansions, all brick, 2000+ square ft homes that far exceed what someone needs as a "starter home". I still get letters now wanting to buy the house for 270k. So when the time comes to resell, I don't think i'll have any issues making a profit to put into my next home, just more worried about what the hell I can buy afterwards.


WhiskeyFF

And yet half the people come in here complaining about the tall skinnies. Some of the bigger ones are around 2500 but for the most part they're around 1600-2000sq ft and I don't believe that's excessive. And they're an efficient use of space. Imagine the cluster fuck if all those lots were 1 home ranch 1/4 acre.


PreppyAndrew

I had this argument with my dad. He pointed out that size of house growth being a result of Gen X/Mel wanting bigger things. Which doesn't seem to line up. As most new construction is bigger. Also if you are building yourself. Why would you choose to get a smaller house for basically the same price.


37214

I'd need to pay 50% more to move and have exactly what I have today.


[deleted]

Here are the roadblocks to affordability: NIMBY: In Nashville's case means more tall and skinny builds, more Belle Meade shopping centers, and more "luxury apartments." We need high density in the city ASAP. Short term rentals: Metro needs to do whatever they can to slow them. Set a cap, change the zoning, raise the fees, anything and everything they can do to stop new STR development. Short term rentals chew up areas that were designed to be dense and would serve as fantastic transit hubs. Building costs: these likely aren't coming down and there's nothing we (the city) can do about it. But it impacts the price you pay. Higher land costs, higher construction costs, higher labor costs are all roadblocks to affordable housing. The problem that almost every city is facing is that we have an affordability crisis that's the result of an inventory crisis worsened by ultra cheap credit. The solution to that is to build as much as possible, as quickly as possible. Meanwhile, locals are too busy complaining about taxes, developers, and traffic. Frankly, it will take all 3 to create affordability...if we can ever get it back.


lilithsbun

Realizing the only way I’ll be able to afford to stay in Nashville is if I find a partner for that double income life. Speaking of, any men in the 35-45 age range want to get married?! We can learn to like each other while we decide on paint colors for our overpriced home 😄


fintheman

Wait, single men around that age range can't afford a house? You gotta be kidding me.


OGtigersharkdude

We all knew this ..


kwiffy88

Yeah we know.


Granulesz

My parents bought the farm I grew up on in 1995 for $72k. It’s 67 acres. Currently, with it just being fenced and one barn with a single wide trailer is $750k. Tobacco base was obliterated in the early 2000s and the way it’s laid out you might have 15 farmable acres. Hour and a half from Nashville. Just blows my mind


PM_ME_YOUR_BOBBLES

Thanks, I’ve already accepted the fact I’m not going to own a house anytime soon.


Vbogdanovic

Thanks California and NY folks 🙏much appreciated


ehmboh

They aren’t the problem, just a symptom of it


Vbogdanovic

Mhmm…..


mrdobalinaa

[Take a look at some data](https://stacker.com/tennessee/states-sending-most-people-tennessee). CA and NY are <10%. The majority are from the south.


MenuOwn

That’s normal, right?


sweet_milk1

It’s crazy more and more people are moving here driving up the prices. I guess they don’t want to pay state taxes.😂😂