America's Looming Housing Crisis

[Conan]

Barely a double up?!!!!


Breh are you crazy?! Whoever bought that house in '98 has been paying a mortgage on it. Probably a 30 year loan, so that shyt is probably close to being paid off. That's almost a million dollar come up after 20 years....

You would have made way more with that money in the stock market, even accounting for paying rent during that period.

 

[Prolific]

You would have made way more with that money in the stock market, even accounting for paying rent during that period.

Banks ain't giving you a $500K+ loan to play with it in the stock market.

 

[Thatrogueassdiaz]

Excuses Excuses Excuses

People need to get out of their comfort zone coc00n if they want to live a better life. Everyone rushing to a comfort zone area, and wonder why the prices are skyrocketing
Do you want to buy a home at a cheaper price, never have to rent, easier mortgage, and land? Ok then

nikka...cost of living and wage (usually) go hand in hand. Want to live in those areas with limited social scene, healthcare scene, social justice issues, go ahead. It's not that simple as just moving to those areas. Do you know how racist those spots can be as well? How about opportunities for advancement? And then you are leaving out that people would have to leave their families. Sone people don't want to do that.

 

[Conan]

Banks ain't giving you a $500K+ loan to play with it in the stock market.

They aren't. They also ain't giving you a $500K+ loan without getting at least $250K back in interest over the life of the loan... Plus you paying taxes, maintenance, closing costs... All money you won't see again.

I'd rather put that in the market

 

[DropTopDoc]

Nah be American allows foreign investors. Before the housing crisis foreign land lords were snapping up property over here buying whole blocks sometimes. This is what created the problem. America letting none American citizens buy houses over here driving up prices. It's not just the California people driving up prices.

that has led to issues, but the avg American can not afford to live on either coast up in the bay they got apts renting for 4K that’s ridiculous and calling it an apt is being generous

 

[Prolific]

They aren't. They also ain't giving you a $500K+ loan without getting at least $250K back in interest over the life of the loan... Plus you paying taxes, maintenance, closing costs... All money you won't see again.

I'd rather put that in the market

You paying taxes on stocks too.

And you're assuming a person won't pay extra towards the principal to keep from paying so much interest. Insurance will cover big ticket maintenance items. It is what it is with closing cost...

 

[Htrb-nvr-blk-&-ug-as-evr]

They aren't. They also ain't giving you a $500K+ loan without getting at least $250K back in interest over the life of the loan... Plus you paying taxes, maintenance, closing costs... All money you won't see again.

I'd rather put that in the market

You’ll have to pay all of that regardless if you buy any house. That’s a great return on that house and was a good buy. Hell, my own house is up $120k after only 2 yrs of ownership…if it finishes out at $800k by the time I retire, I’m fine with it. I got no one to leave it to so I’m cashing out…

 

[Rekkapryde]

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.

FayCo don't know about our basement we finished back in 2016. Our records still have the crib at 2900 square feet. We at 4200 with the finished basement

And I'm keeping it that way until we sell

 

[LiveFromLondon]

Might be right, post 2008 a lotta hedge funds and other finance entities weighed in heavily in to real estate to the point the economy is tied even moreso now to the housing market. Doubt a crash is gonna happen.

 

[Rekkapryde]

Prices will have to drop in order to make it affordable, especially on the two coast

problem is you have investors/business/corporations buying homes in neighborhoods now. That's what needs to be stopped and is driving up housing costs ridiculously.

 

[The_Sheff]

FayCo don't know about our basement we finished back in 2016. Our records still have the crib at 2900 square feet. We at 4200 with the finished basement

And I'm keeping it that way until we sell

Them fakkits increased my shyt based on a finished basement and we didn't finish a damn thing yet.

 

[Chrishaune]

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.

You're not seeing the reality of this capitalistic society you live in.

They will try to make everything they can an asset and tax it.

It's going to collapse though. They are already trying to change the way the world works through the World Economic Forum. Literally nobody will own anything except the ultra rich. You really don't own anything now, miss paying taxes and see how long you last.

 

[bourgeoisie tall freak]

Barely a double up?!!!!


Breh are you crazy?! Whoever bought that house in '98 has been paying a mortgage on it. Probably a 30 year loan, so that shyt is probably close to being paid off. That's almost a million dollar come up after 20 years....

da hell are you on bro. you paid 500k, so if you get 1 mil, you gotta account for the 500k you put in.
either way like i said if you put 500k in the stock market you can probably make a mil in a few years if not right away, rather than wait 20 years. so like i said there are better investments if you are just looking at it from a "come up" pov, but yeah if you need a place to stay that's a different factor

 

[bourgeoisie tall freak]

You’ll have to pay all of that regardless if you buy any house. That’s a great return on that house and was a good buy. Hell, my own house is up $120k after only 2 yrs of ownership…if it finishes out at $800k by the time I retire, I’m fine with it. I got no one to leave it to so I’m cashing out…

even that is a much better example than what that guy posted. what he posted didn't even double in value in 20 years which is something that you think would happen even without a quirky market. my house has tripled in price in less than 5 years lol.

i get what yall sayin, he just didn't post the best example

 

[JNew]

Everyone has to pay higher taxes for the lower class. It’s cheaper to be poor, if that makes any sense.