America's Looming Housing Crisis

CouldntBeMeTho

CouldntBeMeTho

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Slangtonomo said:
Currently trying to buy a new house in Florida. Prices are double to triple what they were.

I'm bidding against zillow, open door, and a bunch of people moving here from other States.

I'm talking houses being snatched off the market in one day, two days max. Everyone is paying way over the asking price.

The thrifty in me, is telling me this is temporary. But something is telling me this is bigger than we think. This is a wealth transfer!

If you're not making at least 30-40 per hour type money...you're not going qualify for a home loan! You will be a permanent renter.

These HF and investors are buying all these houses, and they're not renting them for $800 anymore like you were able to find just last year. $1200 minimum.

It's going down!
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I suspect something big is going down as well. Now with what Zillow Is doing is going to forever change the game. American property is going to be bought up by the wealthy and corporations exclusively.
 
Oldschooler

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Biggest scam are HOA fees. At the end of the day the number one thing people look at is how much can i afford to pay per month with my lifestyle. HOA takes a huge chunk out of affordability and they don't bring much to the table. I don't think it's wealth transfer i think it's inflation from all the debt we are in. Housing is one issue where I'm for more government controls such as not allowing foreign buyers, higher taxation for multiple properties, etc. Housing shouldn't be looked at as an asset to speculate on.
 
Dzali OG

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Oldschooler said:
Biggest scam are HOA fees. At the end of the day the number one thing people look at is how much can i afford to pay per month with my lifestyle. HOA takes a huge chunk out of affordability and they don't bring much to the table. I don't think it's wealth transfer i think it's inflation from all the debt we are in. Housing is one issue where I'm for more government controls such as not allowing foreign buyers, higher taxation for multiple properties, etc. Housing shouldn't be looked at as an asset to speculate on.
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Naw, this isn't inflation as far as the housing market goes. This is point blank investors buying every house they can.

I had a house that was only worth 80k last year, I just sold for 180k. And I can honestly say it was only worth 80k lol. It needs complete rehab, roof and all. Them buying it for 180k let's me know they plan on selling it for 250k minimum. They didn't even do a good inspection on the house.

This is something else breh...I feel it.
 
EffYou

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Slangtonomo said:
Naw, this isn't inflation as far as the housing market goes. This is point blank investors buying every house they can.

I had a house that was only worth 80k last year, I just sold for 180k. And I can honestly say it was only worth 80k lol. It needs complete rehab, roof and all. Them buying it for 180k let's me know they plan on selling it for 250k minimum. They didn't even do a good inspection on the house.

This is something else breh...I feel it.
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Damn....
 
Oldschooler

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Slangtonomo said:
Naw, this isn't inflation as far as the housing market goes. This is point blank investors buying every house they can.

I had a house that was only worth 80k last year, I just sold for 180k. And I can honestly say it was only worth 80k lol. It needs complete rehab, roof and all. Them buying it for 180k let's me know they plan on selling it for 250k minimum. They didn't even do a good inspection on the house.

This is something else breh...I feel it.
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I get it an investor group buying everything up colluding to sell for more is definitely real. But the number has to work from the next buyers perspective too. Let me give you a real example... I can't just go to Detroit buy up the whole block throw a bunch of money in it to renovate and then find me a seller who will pay my price because there's not many people that can afford it to make the numbers work from my perspective. Why can't they afford it? Because there's not enough good jobs there to sustain it.
 
Wild self

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Uitomy said:
If the government don’t step in and regulate these corps and criminals then most people only hope is a revolution and a messy one at that.
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Nah, the landlords gotta get beheaded
 
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