America's Looming Housing Crisis

[Cobalt Sire]

Capitalism is being exposed something serious right now. I don't imagine future generations living under a system like this.

 

[RareHunter]

See, this is what I'm tryna combat. This narrative isn't accurate.

Look at the wealthiest people. Most of their money isn't in real estate or land. It's in the market.

If you like tangible assets that's one thing; but they aren't the fastest way to wealth. Not by any criteria.

Im not speaking of real estate tho. I’m speaking of home ownership which the wealthiest people have plenty of. If you don’t have atleast one peace of land/home than what happens when you have all the money but the place you rent as says you need this, this, and that. I guess what I really mean is home ownership grants freedom.

 

[Dzali OG]

when people can't afford these places, the prices will drop.

Iono about this. "Someone" can afford these prices.

I see this as a huge wealth transfer, coupled with some type of feudalism.

The prices will drop some, but not back to where they were.

 

[bnew]

A lot of you guys just waiting for the market to crash should explore other avenues because waiting for a market that still hasn’t crashed yet is just you wasting time. Explore all avenues of investments and see where you fit. If you have a skill that can make you a business owner then that’s great also.

nikkas have been singing the same "stock market is about to crash" song every year since 2018

Since COVID hit everybody and they grandma thought housing market was gonna crash this year. Oh just wait til the moratorium ends. Moratorium came and went. Market is still crazy.

It's clear the government is not going to let either market fail. It would jeopardize the economic recovery especially as so many boomers are retiring in droves

sold all their individual stocks at market highs .

 

[Heretic]

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.

They ain't going down, best you can hope for is that they stop going up. I got neighbors selling their home so fast that they don't even have anywhere to go yet. shyt is crazy. And it seems like it's investors too, they won't take losses which keeps the market inflated.

 

[Heretic]

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

Did the same thing breh. Just finished a bonus room and a man cave in the basement and didn't tell the folks that needed to know so my property taxes wouldn't go up. The contractor that did the work told me this himself. I used the money I saved to buy some niner tickets

 

[Conan]

Im not speaking of real estate tho. I’m speaking of home ownership which the wealthiest people have plenty of. If you don’t have atleast one peace of land/home than what happens when you have all the money but the place you rent as says you need this, this, and that. I guess what I really mean is home ownership grants freedom.

Freedom from what? You'll always be paying something even on a house that's paid off

There are advantages and disadvantages of home ownership vs renting but either way, you are never "free". But defining freedom as owning a house is so limited. I know people who own their house that are slaves to that house, and people who don't own property but are free to move wherever they want whenever they want. But ultimately it's not a one size fits all.

 

[Wild self]

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.

Word. Being a token c00n in a middle-of-nowhere state with a non existent social scene, just to have cheap rent and a cheap house is asking for a hate crime being done on them.

 

[DonRe]

Recently passed up a great house becuase they wanted 40k over comp prices.
I regretted it instantly when they accepted. Becuase i know it aint its real value when shyt stabilizes.

to consider it a crisis is a bit overstated also. Homelessness is a crisis. Hunger. Institutional racism. Etc.

This is a trend where the middle class wants to move to rural areas because of covid. And becuase the trend 30-40 yrs ago was to move to a big city Developers focused on that.

now they cant build fast enough and home owners have halted any efforts to have more neighbors.

Frankly speaking, this is a crisis of first world problems

 

[Wildhundreds]

Im not speaking of real estate tho. I’m speaking of home ownership which the wealthiest people have plenty of. If you don’t have atleast one peace of land/home than what happens when you have all the money but the place you rent as says you need this, this, and that. I guess what I really mean is home ownership grants freedom.

I haven't heard generational wealth and legacy being mentioned once in this thread.. Maybe people look at property differently..

 

[Jekyll]

when people can't afford these places, the prices will drop.

This would be true if this were average joes holding these properties but these are very wealthy investment groups who don’t have to sell at a loss if they don’t want to.

 

[UpAndComing]

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.

Alot of your views come from ignorance. There is a larger cost of living disparity than there is a wage disparity. Minimum wage is not that different across all 50 states. Same with Middle class jobs. And last time I checked the overwhelming majority of the US are middle class or lower

You're mentioning racism like East and West coasts are not filled with racism. It's hilarious to me. And also disrespectful to the people on the Coasts who experience racism on a daily basis. Racism is everywhere, wake up. We have been so industrialized and corporatized to think moving is now a foreign concept. Up until the 1980s, moving was a way to expand, explore career opportunities, start a new life, etc etc

Now the only time we move is for college or if it's a Top 5 city. We need to get out of our comfort zone coc00n, which is the main reason there are so many of us struggling out here

 

[Thatrogueassdiaz]

Alot of your views come from ignorance. There is a larger cost of living disparity than there is a wage disparity. Minimum wage is not that different across all 50 states. Same with Middle class jobs. And last time I checked the overwhelming majority of the US are middle class or lower

You're mentioning racism like East and West coasts are not filled with racism. It's hilarious to me. And also disrespectful to the people on the Coasts who experience racism on a daily basis. Racism is everywhere, wake up. We have been so industrialized and corporatized to think moving is now a foreign concept. Up until the 1980s, moving was a way to expand, explore career opportunities, start a new life, etc etc

Now the only time we move is for college or if it's a Top 5 city. We need to get out of our comfort zone coc00n, which is the main reason there are so many of us struggling out here

nikka I'm not talking about myself. I moved from Virginia to Oregon, by myself, so dead that noise. Wages are lower in those places mentioned, and even less opportunity. It's common sense why people don't move there. And try experiencing racism in Idaho and then experiencing it in New York and tell me you don't feel a difference with a straight face.

 

[Thatrogueassdiaz]

Word. Being a token c00n in a middle-of-nowhere state with a non existent social scene, just to have cheap rent and a cheap house is asking for a hate crime being done on them.

Everyone is looking for something

 

[the bossman]

Alot of your views come from ignorance. There is a larger cost of living disparity than there is a wage disparity. Minimum wage is not that different across all 50 states. Same with Middle class jobs. And last time I checked the overwhelming majority of the US are middle class or lower

You're mentioning racism like East and West coasts are not filled with racism. It's hilarious to me. And also disrespectful to the people on the Coasts who experience racism on a daily basis. Racism is everywhere, wake up. We have been so industrialized and corporatized to think moving is now a foreign concept. Up until the 1980s, moving was a way to expand, explore career opportunities, start a new life, etc etc

Now the only time we move is for college or if it's a Top 5 city. We need to get out of our comfort zone coc00n, which is the main reason there are so many of us struggling out here

So nothing to do with the economic climate that we live in now. Just move to Idaho and all our problems would be solved