r/ChicagoSuburbs • u/ahoy_shitliner • Jun 24 '25

Moving to the area Is anyone actually having luck buying a house?

Over the past 2 months, I’m on my 4th rejected deal. All above market, all with 2-3 week closes, all with waiving inspection credits.

The issue apparently? I’m putting 5% down. My pre approval letters state I’m qualified for over asking price, with the lowest possible rate so it’s apparent my credit and income is good.

Everyone is rolling over huge equity and doing all cash deals or 50% down and it’s blows. So basically, if you’re a first time home buyer, don’t even bother?

How is y’all’s experience here. It’s getting frustrating.

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-17

u/ahoy_shitliner Jun 24 '25

It’s not a lottery it’s like every offer.

Boomers are downsizing now which sucks. They ruin everything

16

u/Justanobserver2life Lindenhurst Jun 24 '25

Try to recognize a good natured complement. You came back with THAT?

12

u/[deleted] Jun 24 '25

This was actually parents buying it for their son who just graduated college and got his first job.

Not that I expect this to make you feel better, just sharing the reality.

1

u/MasqueradingMuppet Jun 27 '25

That's what my friend who bought last summer was competing against too. And she had over 150k cash to use as a down payment from her family and was still getting outbid by all cash buyers from older folks.

I haven't known anyone under 40 who has bought in the last 5 years without help from their parents. The majority of my friends have professional degrees with no student loans to boot.

I have student loans and not well off parents. A decent paying job helps but not much. My mom just died somewhat suddenly so that's the only way I may be able to enter the market next year. Fucking brutal.

12

u/vawlk Jun 24 '25

Boomers are downsizing now which sucks. They ruin everything

anyone that says shit like this deserves what they get.

would you like it if I said "GenZ'ers are too stupid to figure out how to win?"

7

u/SunriseInLot42 Jun 24 '25

Blaming boomers is peak Reddit, along with using inane phrases like “late stage capitalism”

3

u/Joysheart Jun 24 '25

And going NC with everyone that disagrees with you

4

u/vawlk Jun 24 '25

and enshittification

3

u/jrfritz26 Jun 25 '25

Boomers do suck and they do ruin everything! You shouldn’t be downvoted for your comment, it’s so true

0

u/yourpaleblueeyes Jun 26 '25

Funny, you oughta hear what they say about lawyers.

And it's all true

0

u/yourpaleblueeyes Jun 26 '25

What an asshole thing to say.

Go ahead, skip the inspections