- Forum Clout
- 2,460
You've got to be very stealthy as you rig a giant extension cord in front of a camera.
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- Forum Clout
- 31,461
Use the current property to finance a second. Doesn't matter if there's a crash because it won't actually make much of a dent in prices in the long run. You lose some of the added value you built up for a few years maybe and then it starts picking up again. A house you bought for $300k rises to $500k, then becomes $400k when you lose $100k in a "crash" and you're supposed to cry? Meanwhile inflation is eating the shit out of your mortgage too so you're effectively paying less than zero interest anyway. Then take your son out for McDonalds after he's competed in all his sports and eaten all his eclairs.
- Forum Clout
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- Forum Clout
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Looks like Freddie Mercury late stage aids era there.
- Forum Clout
- 47,448
Tranth Groomia?
- Forum Clout
- 25,923
At least back then he was skinny. Now he can’t even button that top shirt and his head got Barry Bonds level big.
Nice diet of beer and T-shots, stupid.
- Forum Clout
- 47,448
I never left the Mew alliance tbchwy.Pat-approved!
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We're about to buy around covid and held off....fucking oops. Don't think I'll ever get into it with the way things are going. It's pretty depressing. Kikes fault, not mine.
- Forum Clout
- 6,909
I'm starting to think they won't let the bubble burst. Too many old boomer voters will be pissed if the housing market resets. Better off to print a few trillion, call it quantative easing and lumber the next generation with the problems. Democratic economics is great.
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I think 'the next generation deal with it' thing is rn, (whenever the bubble pops).
- Forum Clout
- 575
Joe Cumia post incoming:
Home ownership is pretty much over for anyone who doesn’t already have one.
It was really expensive before but the pandemic kicked it into over drive. The low rates made it easy for companies like BlackRock and foreign investors to buy up whole neighborhoods; single family homes are safe assets because of the steady returns through rent or appreciation and fairly low risk. On top of that local zoning laws make it tough to build new homes in desirable neighborhoods; anyone who already owns a home is not going to lower its value by voting for new construction. Even if they do build new units, tariffs on Canadian lumber artificially inflate the price.
Oh and if you think the rising rates now will dramatically lower the prices, you’re kidding yourself; so many millennials want a home and never had a chance between the 2008 crash and where we are now. Prices may dip marginally but they’ll pick back up real quick.
It sucks but I think renting is going to be even more normalized. I saw a couple op-eds a few months back pushing the idea that, “America should become a nation of renters.” We’re gonna get to a point where the only people that own homes were born into money and everything in your life will be a subscription service. Your car, your home, everything. Unless you were born rich, enjoy paying a fee for everything until you die.
Home ownership is pretty much over for anyone who doesn’t already have one.
It was really expensive before but the pandemic kicked it into over drive. The low rates made it easy for companies like BlackRock and foreign investors to buy up whole neighborhoods; single family homes are safe assets because of the steady returns through rent or appreciation and fairly low risk. On top of that local zoning laws make it tough to build new homes in desirable neighborhoods; anyone who already owns a home is not going to lower its value by voting for new construction. Even if they do build new units, tariffs on Canadian lumber artificially inflate the price.
Oh and if you think the rising rates now will dramatically lower the prices, you’re kidding yourself; so many millennials want a home and never had a chance between the 2008 crash and where we are now. Prices may dip marginally but they’ll pick back up real quick.
It sucks but I think renting is going to be even more normalized. I saw a couple op-eds a few months back pushing the idea that, “America should become a nation of renters.” We’re gonna get to a point where the only people that own homes were born into money and everything in your life will be a subscription service. Your car, your home, everything. Unless you were born rich, enjoy paying a fee for everything until you die.
- Forum Clout
- 9,317
There's a deficit of housing supply the likes of which our construction industry can't keep up with. While we might see prices change based on interest rates or the bigger economy, there won't be a crash, at least not for WAY in the future. If you live around a major city, best to lock in a house; the earlier, the better.
- Forum Clout
- 9,317
Plus if you have a renter who's covering your mortgage, who gives a fuck what the value of your house is, so long as that guy is paying off your investment?
And if you don't have a renter and you're living there yourself, it's so unlikely you'll experience a pay cut; more likely than not, your salary will increase with inflation which slowly eats away at the real cost of a fixed rate mortgage.
I know I'm in the minority saying this, but there won't be a dramatic crash. There may be price corrections coming because houses were overvalued, but there's too much demand for housing for us to see an 08 style crash.