“Guess How Much It Is Now?”: Guy Shows How Delusional House Flippers Are
This month, TikTok user @baviddoughy shared a video of a Zillow listing for a single-family house in Beacon, just 55 miles north of New York City.
In the clip, he explained that the original Cape Cod-style home was sold in June 2020 for $260,000.
Recently, after the buyer had renovated the property, it has once again hit the market, only this time the price is much, much higher.
So the TikToker did a virtual tour of the premises, inviting everyone to try and guess the new amount.
“Welcome to a game called ‘Guess how much it is now'”
Image credits: baviddoughy
“This video goes out to all the greedy, delusional house flippers and corporations in my area who are buying houses like this and doing too much”
Image credits: baviddoughy
“This is a photo of a house in Beacon, New York about 55 miles north of New York City, and it was taken in 2019”
“Here’s a quick look at the other houses in the neighborhood.”
Image credits: baviddoughy
“You see, it’s here, a typical small Northeastern town, and a year later, the house was sold to someone or something for $260,000 and this is what it looks like now”
Image credits: baviddoughy
“As you can see, whoever or whatever bought it gutted it completely and started over”
“Here are some pictures of the inside. You can see, completely redone, it’s giving midlife crisis, recently divorced. And here’s the fun part. Shocker.”
Image credits: baviddoughy
“It’s on the market again after all of these renovations, and I want you to guess how much they put it on the market for. I’ll give you two seconds. You’re wrong”
Image credits: baviddoughy
“The answer is $1.25 million. Yep. Uh huh. That’s what I said”
@baviddoughy Excuse me what ….🥹#greenscreen #fypシ #house #ny #home ♬ original sound – BavidDoughy
This example is a vivid illustration of the fact that home prices have gone through the roof in the United States in recent years.
But recent research by Boulder Home Source revealed that New York is among the states showing the lowest percentage of value increase.
The data shows that several states have seen record-high jumps since 2018. Those states include Idaho, where prices rose by an unbelievable 91.9%, Montana, which saw a 79.4% increase, and Georgia with a spike of 76.5%. Rounding out the top five were New Mexico at 76.2% and Tennessee with a 75.8% increase in sale prices.
And in New York, there has been a 39.3% rise in house prices over the past five years, with prices in the state currently sitting at an average of $629,516.
“Only the wealthy are essentially buying homes”
However, new real estate data also revealed that nearly a third of U.S. homebuyers are sidestepping a mortgage and purchasing property via cash-only transactions. (According to the stats, 31% of home sales in NYC were loan free.)
The rise of all-cash buys comes at a time when the average home buyer is increasingly likely to be white, wealthy, and older, and the proportion of first-time buyers is at its lowest in over 40 years.
“Only the wealthy are essentially buying homes,” Lawrence Yun, chief economist at National Association of Realtors, told The Washington Post, commenting on the numbers provided by the realty company Redfin. “If this trend was to continue, that means something fundamentally is wrong with society.”
And “greedy” house flippers are part of the problem.
After hearing the number, people were flabbergasted
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Can we PLEASE stop these crappy, useless, annoying tikfuck rant videos? I mean, can we PLEASE stop these crappy, useless, annoying tikfuck videos altogether? It's not even a video, it's some screenshots with poorly transcribed text. That's not content, that's cheap filler.
People wanting to buy a house can't afford any better filler.
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I hate this. People buy houses with no intention of living in them, just using them as an asset to embellish and re-sell. Now there are no crappy cheap starter homes available for young people who just want somewhere affordable to live and make their own.
I feel the pain. Husband and I saved up for years (and we're middle-aged, not young) and finally closed on our first home this Friday. It took us an entire year to find one we could afford that wasn't a complete dump. Even so, it's around 60 miles from work. All because of investors gobbling up all the affordable homes closer to town.
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These renovations are often extremely shoddily done, because these people are just buying the house and renovating it to maximize profits. This takes away affordable housing from other people. And it doesn't even help other people on the housing market either, because these renovations are done *so* cheaply, you can't be surprised if the kitchen lasts you only 5 years before it's falling apart, or you get random leaks etc. A houseflippers goal is to make the house *look* expensive, not to make it worth the price.
yup this happened with our house, but we needed a place to move into asap so we had to take what we could get. multiple problems, quarter round coming up, floors shifting, walls bowed out, doors cut so wrong you can fit a whole hand under them... but again, we had to find a place asap and had to pick what was going to get us housed. wish we had more time honestly
Load More Replies...
Can we PLEASE stop these crappy, useless, annoying tikfuck rant videos? I mean, can we PLEASE stop these crappy, useless, annoying tikfuck videos altogether? It's not even a video, it's some screenshots with poorly transcribed text. That's not content, that's cheap filler.
People wanting to buy a house can't afford any better filler.
Load More Replies... I hate this. People buy houses with no intention of living in them, just using them as an asset to embellish and re-sell. Now there are no crappy cheap starter homes available for young people who just want somewhere affordable to live and make their own.
I feel the pain. Husband and I saved up for years (and we're middle-aged, not young) and finally closed on our first home this Friday. It took us an entire year to find one we could afford that wasn't a complete dump. Even so, it's around 60 miles from work. All because of investors gobbling up all the affordable homes closer to town.
Load More Replies... These renovations are often extremely shoddily done, because these people are just buying the house and renovating it to maximize profits. This takes away affordable housing from other people. And it doesn't even help other people on the housing market either, because these renovations are done *so* cheaply, you can't be surprised if the kitchen lasts you only 5 years before it's falling apart, or you get random leaks etc. A houseflippers goal is to make the house *look* expensive, not to make it worth the price.
yup this happened with our house, but we needed a place to move into asap so we had to take what we could get. multiple problems, quarter round coming up, floors shifting, walls bowed out, doors cut so wrong you can fit a whole hand under them... but again, we had to find a place asap and had to pick what was going to get us housed. wish we had more time honestly
Load More Replies...
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