I'm a young single adult with a fairly well paying remote job. I've been in my career for almost 4 years now and have saved up a decent chunk of money through investing and saving.

My game plan was to use the "market crash" that everyone was predicting in 2023 to try and make a stab at purchasing a home. When the interest rates spiked I thought it was a great sign for me because I thought for sure that housing prices would fall accordingly, jokes on me though because several months later homes in my area have barely gone down in price at all and even closer to town in nicer areas prices continue to climb.

Not only that but the only real thing the rate hikes have done for me personally is make what was looking like a modest mortgage payment suddenly become far less affordable, even with my very low personal spending.

Is anyone else in a similar situation? Are we doomed to rent forever? Should I move out to the boonies where it seems like that's the only place left with non-insane housing prices?

I look at Zillow and houses in my area that sold for 200k~ less than 5 years ago are now on the market for 400k-500k. It feels like anyone who didn't get in back then is just completely screwed

/rant

After my lease is up in my current apartment, I am hoping to purchase a home somewhere in the US and am just now in the beginning stages. I'm not too far into my search but am generally looking for 2-3 bedroom with 1.5 bath, a basement, and a decent backyard. My budget is <$250k and I am looking at east Tennessee, North Carolina, Virginia, and maybe Michigan. Fortunately, I work from home and am not terribly dependent on being near a job, but unfortunately it seems like all houses have exploded in price the past 3 years in pretty much every area. It is crazy to look at a house that sold in 2019 for $100k being listed now at the top of my budget at $250k! It kind of makes me want to put in an offer at 65% of the listing price for some of these egregious increases. Especially as the higher interest rates making the house way more expensive than what they originally purchased at when the rates were at all time lows. It seems like the market for a $150k starter home is non-existent for most parts of the country these days.

• Anyways, I was curious who here is a homeowner?

• What is your experience like going from renting to buying, or if you were a homeowner and went back to renting?

• What are some things you wish that you had known to do prior and what advice would you give yourself back then?

• How long did you search and how long are you planning to stay in your home?

• What do you think of the current market dynamics? Is there any hope for prices to come back down to Earth?

• Any other thoughts you want to share?

My dad died a couple years ago and I inherited a farm in the central EU. Some of the land is farm land, some zoned residential. My plan was to rent this house out Airbnb style. The surroundings are very pastural. This is the appeal for “agro-tourism.” We are also very close to ski resorts.

My farm plot is the smallest of all the neighbors, but it is dead center in the planned farm. They want a 30 year lease for our land. One neighbor has already agreed. They are offering about $2500/hectare/year.

My neighbors are actually farmers, and to them this is a big chunk of money. Especially as they have 10+ hectares each, I only have 1.25. For me the money is less than one month’s salary and is not that appealing. Also, this is about 15% of what I expected to make off of the Airbnb which would pay for my retirement. Yes, this is a privileged position.

1. I don’t know what questions to ask in negotiations. One thing I verified is that inflation is included, year after year. What else?
   Note: Yes I will have a lawyer look at this, but honestly this is the first thing of its kind in our area.

2. If you were renting out a house in ski-resort/farm country, would you care if there were a bunch solar panels in the fields instead of farm land? Would you like it more, or less?
   Note: I can upload photos or video to give you an idea of the area.

3. Will this raise or lower the value of my home for resale?

4. Any other general thoughts?

Thanks!

Edit: I should add that I am super-anti CO2, so my default position is “hell yes!” But I am just trying to be pragmatic about this. Of note is that this is the first time in my life I am experiencing a bit of NIMBY-ism. Also, I am extremely thankful for this opportunity.