Price gouging ?

[dantheman]

So , if I bought my house for 175k years ago and I listed it today for 250k , would I be price gouging ?

 

[Bigchillin83]

So , if I bought my house for 175k years ago and I listed it today for 250k , would I be price gouging ?

depends... does it come with alot of accessories like forks and plates? Is it a high capacity house? Is there a threat of that style not being built and sold anymore?

 

[davidd]

If sold on BayouRealtor.com, yes. If sold on GunRealtor.com, no. Any questions?

 

[krotsman]

It also depends on if the house you are selling is in an area where they are about to ban the sale of houses all together and/or cut off all utilities that supply and run said house.

Seriously though, philosophically, I don't think it's price gouging if the market will bear it and it's an item that we can choose to buy or not buy (guns ain't food and water). However, from a practical standpoint, it annoys me because I'm cheap...

There's also a big difference between asset appreciation and price inflation over time vs. trying to quickly flip things for a ridiculous markup. In the end, though, we're a capitalist society and today's secondary firearm/ammo market is just a microcosm of the system working the way it's supposed to.

 

[Bigchillin83]

its really only price gouging if the following apply:

I didnt get it when the getting was good
I want it now
I dont have enough money
I sold one 15 years ago for alot cheaper

 

[krotsman]

its really only price gouging if the following apply:

I didnt get it when the getting was good
I want it now
I dont have enough money
I sold one 15 years ago for alot cheaper

Zackly!

 

[DaggerBlade]

This pretty much sums it up!!!!!

 

[Xeon64]

No. Market Drive prices are not gouging. I paid 188 for my house in 2007 and could sell it now for $375

 

[DaggerBlade]

I didn't get it when the getting was good
I want it now
I don't have enough money
I sold one 15 years ago for alot cheaper

If sold on BayouRealtor.com, yes. If sold on GunRealtor.com, no. Any questions?

I don't think it's price gouging if the market will bear it and it's an item that we can choose to buy or not buy (guns ain't food and water). However, from a practical standpoint, it annoys me because I'm cheap...


I think the above hit the nail on the head!!!! This is as true as it gets.

 

[iomg8]

Good luck buying another house under 275k lol

 

[kingfhb]

Well with that mentality you should never invest in the stock market. Is your goal to break even and never turn a profit on anything? Your home value increased... benefit from it. Following Katrina, I know a number of people who sold their home for 3x what they paid for it even months prior because the demand for housing skyrocketed... Supply and demand applies to homes also.

 

[AustinBR]

I'm currently in the market to buy a house and all of the houses we are looking at keep selling for 30k - 100k over asking. One of them sold for $1M more than asking. Like what?!

 

[flyboy]

I'm currently in the market to buy a house and all of the houses we are looking at keep selling for 30k - 100k over asking. One of them sold for $1M more than asking. Like what?!

I hear that. My in-laws listed there home on the market last week and within 3 days of the listing and showing of their home, they got an offer for $25,000 more than their asking price for it. Of course they agreed to the offer for it and sold it.

 

[JBP55]

Reasonable priced houses are selling in days at list price.
Lumber prices are up 40%.

 

[Fordfella]

So , if I bought my house for 175k years ago and I listed it today for 250k , would I be price gouging ?

I hope not. I pretty much did just that several years ago.

 

[shrxfn]

Well you also have historically low interest rates fueling the purchases. Once interest rates go back up home prices will settle back down and people overpaying will drop unless you live in a historically hot market.

 

[southerncanuck]

We really need to stop abusing the term price gouging just because we get emotional about things. Please click here for a meditative commentary on emotional response to prices.

It's very important to distinguish between price gouging, high prices and dudes asking for more than they probably should.

Price gouging is when a seller raises a product's price above fair-market values when the buyer has no alternatives and has to pay whatever ransom is being held because the purchase is a necessity. In most states price gouging is against the law.

High prices are simple economics. Price is the great equalizer of supply and demand. Market prices go up and down for all things, whether it's bologna, barns or bullets. I've posted this before but I'll share it again, because we like having the same six conversations over and over again (we really do need some new material, guys):

Dudes asking for more than they probably should is just... dudes asking for more than they probably should. Dreams are not price gouging. Requests are not price gouging. Asks are not price gouging. Putting a dream, request or ask in print and sticking it to a classified ad does not make it price gouging.

 

[Jstudz220]

No. Market Drive prices are not gouging. I paid 188 for my house in 2007 and could sell it now for $375

Without even looking at it I’ll give you $375 for it right now lol

 

[whbonney26]

Property values are up just about everywhere. Its a great time to sell but unfortunately, you'll have to buy somewhere also, usually.

 

[jessopher]

Hyper inflation is going to start making the concept of price gouging a moot point lol got some interesting times ahead that is for sure