Property Market is going WILD
- Thread starter Professor Emeritus
- Start date
eastside313
Superstar
A hard working black man tryin to come up for his family and has 2 or 3 income properties isn’t the ltttle guyNotice how you completely ignore renters and people who don't even own wealth or property while pretending to defend the little guy.
It'll be a great day in America when the people who own real estate businesses are the definition of "the little guy".
You think everybody That owns properties is a damn real estate company or something.
tell me how you felt about the small business owners that got shut out of ppp money. Is it to hell with their businesses and they need to go get a job too.
What % of people who own 2-3 income properties are black? And no, they're not "the little guy" at that point, the little guys are all the people writing the rental checks that go to them.A hard working black man tryin to come up for his family and has 2 or 3 income properties isn’t the ltttle guy
You think everybody That owns properties is a damn real estate company or something.
You clearly aren't following the conversation nor do you know me as a poster. I'm a huge fan of small businessmen, farmers, and working people of all types, because they produce something of value for someone else. They don't live off of economic rents - leveraging their capital advantage over other people because they can afford to buy property and the person paying them for it cannot. If you make money solely off the fact that you have greater ability to leverage capital than the other person does, then you're helping show what's wrong with capitalism.
The funny thing is, all the get rich quick books that promote real estate acquisition and income properties make this point constantly. "If you work for a living you're a loser! People who earn salaries that they have to work for are losers! A real winner buys up property and makes other people work for them! If you want to get rich, invest in real estate!" They're not shy about it at all.
That's not to say there's no work involved. But the work is only the cost of enforced dependency, you're not doing anything that a regular homeowner doesn't do for themselves every day without getting a cent of pay for it. Meanwhile, the tenant is dumping 30-40% of their entire paycheck into your bank account every fukking day solely because they're too poor to buy the property themselves.
Smoking With Cigarettes
Superstar
If you got a solid deal you can find buy it but as far as real estate goes when sellers aren't selling to meet the demand of buyers, we get situations like we have here. Near where I live businesses and snowbirds are paying crazy prices for houses going up and its got the market super fukked up
BaileyPark31
Love, Peace, Health, and Wealth
I'm looking to buy....
And the housing inventory in my area is trash.
The house sells as soon as it hits the market.
And the housing inventory in my area is trash.
The house sells as soon as it hits the market.
GnauzBookOfRhymes
Superstar
Just about any economic/financial transaction could be boiled down to one party "leveraging their capital advantage" over other people.
Someone providing a professional service is leveraging the advantage of their education/credentialing.
Also many people CHOOSE to rent because it makes more sense financially. What is so wrong about providing that flexibility to them?
The fact that someone may be paying 40% of their total income in rent is definitely a problem. But that is a structural/socioeconomic issue that has to do with wage stagnation, lack of educational opportunities etc etc.
GnauzBookOfRhymes
Superstar
Sellers aren't selling to meet the demand of buyers?
What do you mean breh.
GnauzBookOfRhymes
Superstar
The move is whatever makes sense for you and your family. A lot of the ppl in here have no idea what they're talking about (with all due respect). The market isn't "wild" it's just that we're in a sellers market. There are more buyers for homes than homes available. There are a lot of reasons why but it's nothing like what happened in 07/08.
The basic assumption of trade and barter in history was that it was mutually beneficial. You provide me with something I need and I provide you with something you need. The issue of "leveraging capital advantage" doesn't even enter the picture until large disparities between people become the motivation behind the transaction.
The example you give isn't exploitative at all. Not everyone can be doctors - it wouldn't make sense for everyone in the population to go through that level of training because you don't need that many doctors. So one person goes through the work to become a doctor, and they provide that service in exchange for money. Meanwhile someone else becomes a plumber, and the doctor gives the plumber money for their service just like the plumber gave the doctor money for their service. Division of labor isn't necessarily exploitative, its pretty natural.
And most importantly, the doctor provides a service that benefits society. The plumber provides a service that benefits society. The car factory worker provides a service that benefits society. They all provide something concrete with their labor.
The difference between providing a service and profiting off a renter is that the the landlord does not give the good to the buyer because they know they can profit more from holding onto the good. Money flows from the poor person to the rich person solely because the poor person is too poor to own outright. It not only is an example of the economic disparity in society, it increases this disparity, because the rich person keeps getting richer while the poor person loses a huge portion of their hard-earned income while not building wealth at all. And the landlord did not create the land, it was already there. In most cases the landlord does not even build the house, it was already there. The landlord simply uses their capital advantage to take possession of the land and the house, and then profits off of their ability to take that possession without adding anything substantial to the equation at all.
Like I said, if you look at the people who promote real estate investment, they constantly brag that "real rich people" make money without having to work. They say, "MAKE THE MONEY WORK FOR YOU SO YOU GET RICH IN YOUR SLEEP". Bullshyt, the money isn't doing any work, money is completely inert. What they are actually saying is they force poor people to work for them, and draw in the profits to themselves solely by taking advantage of the inefficiencies in our economy that allow the rich to leverage their capital advantage to exploit the poor.
That would be just fine if it was a choice. In Old Testament Israel, for example, it was legal to rent, but it was also required that every family be allowed to own their own property and that right could never be taken from a family. And it was considered a horrific sin and exploitative if a landlord began to buy up too much land such that others could no longer own their own or did anything to keep others from owning their own.
We're in a world where people can't afford to own their own home because so many rich people own 2-3-4-10 homes. In many cities something like 35-40% of dwellings are not owned by the resident. That is the fundamental driver behind high property costs and the lack of most families (especially black families) to be able to invest in their own future.
It's wild to me that we're in a community where so many people can see the value of reparations, and so many people can see the terrible injustice of the large majority of Black families not having enough wealth to own their own home (and nearly half of Black families having virtually no net worth at all), and yet people can turn around and cape for the systems that inevitably KEEP most Black families without wealth.
So long as "real estate investors" buying up homes to force others to rent is a major thing, most Black families will never build up wealth. It is an inevitable fact of devoting such a large portion of your own income to someone else's bank account.
So long as "real estate investors" buying up homes to force others to rent is a major thing, most Black families will never build up wealth. It is an inevitable fact of devoting such a large portion of your own income to someone else's bank account.
UserNameless
Veteran
Shyt is BOOMIN . Feel like it low key boomed more especially during second half of the pandemic
getting more and more tempted to sell 
estimated value is up 33% since i bought in sep 18
take the bag of cash and gtfoh
estimated value is up 33% since i bought in sep 18 take the bag of cash and gtfoh
rightfultoefinger
All Star
Then you’d probably never be able to get back. Well that’s the case with me if I want to buy in the same neighbourhood as I am right now. Bought in 11 for 650k and now it’s worth 1.5+ million. I’d sell if I could even find a place to downsize but I’m still young with a family. I’m actually looking to buy an investment property in the range of 1 million and there’s nothing out there.getting more and more tempted to sell
take the bag of cash and gtfoh
i know, i said that early in this thread i think
id either go back in with the rents or just flee the country altogether
Eye Cue DA COLI GAWD
<--- Cleveland Browns winning that many, boi!
White collar America back to treating the housing market like the stock market by using stock assets to buy housing acquisitions. US never learns 