America's Looming Housing Crisis

[The_Sheff]

Its getting to the point where i think "affordable" housing wont be able to be purchased. You are going to have to rent that shyt. Only homes for purchase will be on the higher end of the spectrum.

 

[Strapped]

Big companies are buying up properties & holding them creating an illusions of shortages which drives up the prices . They have been building expensive apt. & Condo's downtown which no one can afford because they priced it way out of the middle class income

 

[CrimsonTider]

My property taxes through the cot damn roof right now. I'm ready for property values to fall just to get a break on this shyt.

huh

 

[UberEatsDriver]

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.

Government in America moves to slow

 

[The_Sheff]

huh

As the "appraised value" on your home increases so do your property taxes. You may think "Sheff" why wouldn't you want your property value as high as possible. Well an inflated property value only helps if you are ready to sell. I have no plans to sell this house until my kids are out of college in about 20 years. So the only thing an inflated appraised value does for me is increase my monthly mortgage.

 

[Mindfield333]

2900 a year for me. I pay city and county taxes

What state?

 

[Knowledge]

What’s state?

Georgia

 

[Mindfield333]

Georgia

You must be in Atlanta then. My sister is in Fairburn and got her house like 2 years ago

 

[NaijaProdigy Redux]

Main issue for a lot of people selling, depending on the market, is that even if their primary home has benefited from this massive value appreciation they then have to turn around and purchase a new home in that same hot market.

If you have multiple estates, it’s great

 

[UberEatsDriver]

What people don’t realize is the ability to own property is what grants people true freedom and the ability to gain wealth or pass down wealth. Many old boomers today who are retired, no longer have to pay for much but maintenance on the house. As a renter you have no wealth, are building true wealth, and how will u retire peacefully?

This is an intentional preparation for the U.S. economy to plummet and have a society of renters. There’s also zoning law as of areas in the wilderness that they don’t want people to live. They will force people who are self sufficient to move into cities. They want most people renting and in cities by 2030. There is no escape. They offering my grandma 370k to sell and all the mail and phone calls are about her selling and with urgency.

Owning a house is not the only way to build wealth.

 

[desjardins]

I mentioned this in here before but inventory in my area is at an all time low.
It's basically impossible for a normal person to get a property at sheriff sale now and properties get cash offers with no inspection required soon as they hit the MLS
I'm not sure how someone who needs to qualify for special loans and wait 30 days for fulfillment is going to compete in this current environment

 

[CrimsonTider]

As the "appraised value" on your home increases so do your property taxes. You may think "Sheff" why wouldn't you want your property value as high as possible. Well an inflated property value only helps if you are ready to sell. I have no plans to sell this house until my kids are out of college in about 20 years. So the only thing an inflated appraised value does for me is increase my monthly mortgage.

I know how it works

property taxes are like 1% of the assessed home value in Georgia

if Your house is assessed at 250,000 then you pay about $200 a month

If it goes to 275,000, that’s like 40 extra a month

who complains about this when you’re market value went up 25000 in one year

 

[UberEatsDriver]

846 Springside Ct NE, Atlanta, GA 30342


1/17/1996 Sold $456,700
12/8/1998 Sold $540,000
9/20/2021 Listed for sale $950,000


That's one helluva investment. If that doesn't show you that homeownership is key to true wealth in this country, I don't know what will...

real estate is all about location. You can put another location in there like Flint Michigan and the numbers would different.

but owning in a healthy market is key

 

[BmoreGorilla]

It’s a sellers market right now it is what it is. It was a buyers market for a long ass time that shyt wasn’t gonna last forever. You couple that with the current inflation and here we are. But this shyt is completely different than what happened in 08 which was the direct result of predatory loans

 

[Edub]

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