Lets keep it 100. It isnt a housing "crisis" if you already own a house and have a second one.

[Scustin Bieburr]

This is what no politician will talk about.

They won't talk about the boomers that spent what is the modern equivalent of 2 years worth of rent on a down payment, then got a house now worth over a million dollars which they hope to sell and combine with the revenue from their 401k.

They want those people's votes but also want the votes of the young people that don't have tens of thousands to afford a down payment because rent, healthcare, and groceries are eating into the few savings they can muster. They can't go back to school to get a degree and make a transition to a higher paying career because the cost of college is going up. They're too busy working to stay up and write scholarship applications as 30 or 40 something year olds and that's all assuming they don't have kids or a chronic health issue.

It ain't a crisis if you're benefiting from it. Somethings going to have to give eventually. The cycle will only continue if those boomers die and pass their houses down to young people who want those houses to increase in value.

The whole approach to housing needs to change. It needs to stop being seen as an investment vehicle

 

[Wiseborn]

People who are up have way fewer problems than people who are down.

There’s no housing crisis it’s a zoning location and migrant crisis.

 

[Geek Nasty]

I watch a few real estate channels. They claim there isn't a housing shortage. All those private equity firms that bought up housing post-GFC are sitting on properties. They can't sell because real price discovery will destroy their valuations.

One of them said she saw 10 condos for rent in some Florida complex online, she went to check it out and there were over a hundred available not listed on rental sites.

 

[Wiseborn]

I watch a few real estate channels. They claim there isn't a housing shortage. All those private equity firms that bought up housing post-GFC are sitting on properties. They can't sell because real price discovery will destroy their valuations.

I heard the same but also they don’t have even 0.1% of housing stock. They bought up shytboxes in selected markets and try to flip them. Outside of certain markets there’s plenty of land and houses looking for buyers. I seen a house literally falling down in the red hot DC market in the hood surrounded by “luxury” apartments and rehabbed condos.

House could probably be had for 40K.

 

[Scustin Bieburr]

People who are up have way fewer problems than people who are down.

There’s no housing crisis it’s a zoning location and migrant crisis.

If someone tries to change the zoning laws, guess who's going to turn up and sue to avoid that change happening? People who are concerned that the "character" of the neighborhood will change and who don't want the property prices going down.

If the supply of housing increases, it is less rare which means if you were used to your house continuing to appreciate significantly in value, you'll be expected to accept that someone won't buy your 1 million dollar 2.5 bedroom shack when they could get a new apartment or townhouse for a quarter of that price in the same neighborhood.

Migrants don't control interest rates and real estate investment trust revenues. Latinos that are undocumented aren't showing up with tailored suits and inking deals at the bank to buy a bunch of houses and jack up the price.

Now I can understand the argument about rent going up because a landlord would rather rent to foreigners who can barely speak English and won't put up a fight if the landlord wants to raise the rent dramatically or just evict them on some trumped up bullshyt, but the people buying these houses are rich people and institutions. The kind of foreigners Republicans like are the kind they can deport easily while underpaying(H1B) or the ones who are already rich in their home countries and will come here to use our housing market as an extension of their portfolio. American housing has become another item like a mutual fund or ETF that the wealthy use to cement their social power.

 

[Wiseborn]

If someone tries to change the zoning laws, guess who's going to turn up and sue to avoid that change happening? People who are concerned that the "character" of the neighborhood will change and who don't want the property prices going down.

If the supply of housing increases, it is less rare which means if you were used to your house continuing to appreciate significantly in value, you'll be expected to accept that someone won't buy your 1 million dollar 2.5 bedroom shack when they could get a new apartment or townhouse for a quarter of that price in the same neighborhood.

Migrants don't control interest rates and real estate investment trust revenues. Latinos that are undocumented aren't showing up with tailored suits and inking deals at the bank to buy a bunch of houses and jack up the price.

Now I can understand the argument about rent going up because a landlord would rather rent to foreigners who can barely speak English and won't put up a fight if the landlord wants to raise the rent dramatically or just evict them on some trumped up bullshyt, but the people buying these houses are rich people and institutions. The kind of foreigners Republicans like are the kind they can deport easily while underpaying(H1B) or the ones who are already rich in their home countries and will come here to use our housing market as an extension of their portfolio. American housing has become another item like a mutual fund or ETF that the wealthy use to cement their social power.

I was referring to the cheap labor that Migrants who build houses do.

The zoning laws are the main issue and can’t be fixed people count on Housing prices going up as appreciation is most people’s retirement plan.

 

[cyndaquil]

I watch a few real estate channels. They claim there isn't a housing shortage. All those private equity firms that bought up housing post-GFC are sitting on properties. They can't sell because real price discovery will destroy their valuations.

One of them said she saw 10 condos for rent in some Florida complex online, she went to check it out and there were over a hundred available not listed on rental sites.

You are correct.

https://www.wsj.com/real-estate/wall-street-thinks-u-s-homes-are-overpriced-1fc1c18d

 

[Wiseborn]

You are correct.

https://www.wsj.com/real-estate/wall-street-thinks-u-s-homes-are-overpriced-1fc1c18d

REIT investments been a thing. Them REIT EFT’s crumble and we got another Great recession on our hands.

 

[cyndaquil]

REIT investments been a thing. Them REIT EFT’s crumble and we got another Great recession on our hands.

There's a lot of things stacking this house of cards. I wonder how long it can last?