When Will Houses Go Back To Fukkin Normal Prices????

[The_Sheff]

I think we are at the point of permanent have nots. People who have shyt now are passing it down to their kids, whether that’s real estate, life insurance policies, retirement savings, trust funds, etc……….

So if your family is coming up poor and cant pass you anything you looking at being a permanent renter or living check to check trying to buy a 800k house.

We bought our house in 2018, right before the explosion. Straight up if we didn’t buy then we couldn’t afford to live in this neighborhood. I’ve spoken to plenty of neighbors and we all feel like that.

My dad and aunt are passing me and my sister homes and retirement money so we will be good and so will my kids. But people starting from scratch, it’s fukked up out here.


The next big crash will be when older people start retiring with no savings and default on loans and debt.

 

[Scustin Bieburr]

1.The federal government buys a controlling interest in the biggest banks in America and develops a powerful team for the IRS focused purely on corporate compliance with federal laws around speculation. Reps of this team are present in all share holder meetings and can veto any move that would risk damaging the bank and causing layoffs whilst enriching investors.

2. Private equity firms are banned from owning housing except if for exclusive use as an office to conduct business and they have to prove that the work cannot be done remotely. Their existing properties are re-appropriated and given to the banks described above.

3. A federal law is passed prohibiting people from being able to pass down their homes as investments/inheritance. You can buy your parents home from them and the government will take 30% of a cut if the home is valued at more than 1.5M or is valued at a price 25% or more higher than the national average.

4. All short term rentals are banned and single family housing must have at least one person living there. In Canada they have a tax on people who don't prove they are living at the house or have a long term tenant in the house. We need something like that here.

Do those things and you've killed the financial incentive inherent in using housing as a commodity that can appreciate and be sold like stock. It also means that older housing gets renovated similar to what Japan does by bulldozing old housing and replacing it with something new.

That won't happen though as long as the economy is controlled by less than 20 CEOs. The economy needs to be controlled by labor and the only way for that to happen is with collective power. Unions can completely shut down a country if they want to and with the internet, global worker solidarity is possible as a worker in Canada can send money to the strike fund of a worker in New Zealand or America aiming to unionize an Amazon warehouse. When you get global worker solidarity, you force big capital to move in the ways that benefit the worker and the customer instead of the shareholders who just want to see the line go up and will dip once they stop seeing constant returns. Infinite growth is impossible on a planet with finite resources. They know that but don't care.

 

[maxamusa]

Good luck OP.....aint no place like home

 

[maxamusa]

This nikka @Mike Nasty is about complaining ... not solutions

thats half the threads in TLR

 

[maxamusa]

Lol

People been saying this for years. It ain’t happening.

Its not gonna happen. What they're doing is gentrifying everything and getting rid of public housing.

America will make "affordable" housing out in the boonies where there is 0 economy. Thats been the plan.

 

[WesCrook]

1.The federal government buys a controlling interest in the biggest banks in America and develops a powerful team for the IRS focused purely on corporate compliance with federal laws around speculation. Reps of this team are present in all share holder meetings and can veto any move that would risk damaging the bank and causing layoffs whilst enriching investors.

2. Private equity firms are banned from owning housing except if for exclusive use as an office to conduct business and they have to prove that the work cannot be done remotely. Their existing properties are re-appropriated and given to the banks described above.

3. A federal law is passed prohibiting people from being able to pass down their homes as investments/inheritance. You can buy your parents home from them and the government will take 30% of a cut if the home is valued at more than 1.5M or is valued at a price 25% or more higher than the national average.

4. All short term rentals are banned and single family housing must have at least one person living there. In Canada they have a tax on people who don't prove they are living at the house or have a long term tenant in the house. We need something like that here.

Do those things and you've killed the financial incentive inherent in using housing as a commodity that can appreciate and be sold like stock. It also means that older housing gets renovated similar to what Japan does by bulldozing old housing and replacing it with something new.

That won't happen though as long as the economy is controlled by less than 20 CEOs. The economy needs to be controlled by labor and the only way for that to happen is with collective power. Unions can completely shut down a country if they want to and with the internet, global worker solidarity is possible as a worker in Canada can send money to the strike fund of a worker in New Zealand or America aiming to unionize an Amazon warehouse. When you get global worker solidarity, you force big capital to move in the ways that benefit the worker and the customer instead of the shareholders who just want to see the line go up and will dip once they stop seeing constant returns. Infinite growth is impossible on a planet with finite resources. They know that but don't care.

What kind of shackle law is this?

 

[AAKing23]

Sorry, but i disagree. As long as politicians are at the mercy of big time donors and corporations, nothing will fundamentally change. That Citizens United ruling by the SC years ago will be the undoing of a lot of things in this country. Donors and big corporations have their hands in the pockets of everything. Big time real estate companies and property development companies make sure to get people of their choosing into office, and then they pull the strings to make sure that they pass laws that they approve of, or oppose laws that hurt their bottom line.

The American population is too weak and timid to ever make enough noise to change things. As long as crappy politicians keep getting elected into office, nothing will fundamentally change.

Everything you said is true but I'm thinking more long term impacts.

Births going down, marriages going down, military recruitment down, home affordability down, overall quality of life down

People are gonna be bytching like a motherfukker when there's no one making families anymore or that no one wants to work or sign up for the military because people largely are just gonna be like " fukk it, I don't have shyt to lose"

When these things happen it creates an environment where people become radicalized. You already have mass shootings every day in this country and it's only gonna get worse as the wealth divide widens

 

[desjardins]

Yall don't listen. Buy whatever you can afford when you can afford to do so. Trying to time the market is a L and will only lead to you paying more money.
Interest rates ain't even lowering prices and if rates go down then demand will only sky rocket. If there is a real crash in the real estate market then people like me who have been stock piling money waiting for deals will be buying everything up

People need to seriously look at relocation or if you must stay where you are do what real estate investors do and try to find off market deals. Anything that's on the MLS is already "overpriced". Go meet some whole salers, look into tax lien properties, explore the potential of houses that need full rehabs. Real estate investors are still making money on whatever deals they find so it's opportunities for people to buy below market, just got to be creative

 

[FishNGrits]

I think we are at the point of permanent have nots. People who have shyt now are passing it down to their kids, whether that’s real estate, life insurance policies, retirement savings, trust funds, etc……….

So if your family is coming up poor and cant pass you anything you looking at being a permanent renter or living check to check trying to buy a 800k house.

We bought our house in 2018, right before the explosion. Straight up if we didn’t buy then we couldn’t afford to live in this neighborhood. I’ve spoken to plenty of neighbors and we all feel like that.

My dad and aunt are passing me and my sister homes and retirement money so we will be good and so will my kids. But people starting from scratch, it’s fukked up out here.


The next big crash will be when older people start retiring with no savings and default on loans and debt.

yea it’s inherit or bust. My mom married rich so I’m straight and my girl is getting two passed down to her. Most home owners I know got a lot of help from parents with assets. Ain’t many people boot strapping these houses.

 

[Scustin Bieburr]

What kind of shackle law is this?

Serious problems need serious solutions. Nothing I'm proposing isn't something someone else hasn't already done successfully

 

[RageKage]

 

[desjardins]

Brehs might also want to look into duplexes and "house hack". Gives you more leeway to spend towards the top of your budget knowing you'll have a tenant helping to cover the costs
Off market property that needs some work + house hacking == nice deal

 

[Fill Collins]

shyt, with the way foreign and domestic corporations are STILL allowed to buy out neighborhoods bit by bit with priority, there needs to be an Evergrande situation everywhere

It ain't looking good ngl

A Biden America. This is what yall wanted

I hope your fakkit ass gets your shyt kicked back in by some rethugs

 

[AAKing23]

Yall don't listen. Buy whatever you can afford when you can afford to do so. Trying to time the market is a L and will only lead to you paying more money.
Interest rates ain't even lowering prices and if rates go down then demand will only sky rocket. If there is a real crash in the real estate market then people like me who have been stock piling money waiting for deals will be buying everything up

People need to seriously look at relocation or if you must stay where you are do what real estate investors do and try to find off market deals. Anything that's on the MLS is already "overpriced". Go meet some whole salers, look into tax lien properties, explore the potential of houses that need full rehabs. Real estate investors are still making money on whatever deals they find so it's opportunities for people to buy below market, just got to be creative

What if what's available and affordable ain't worth the prices they're asking for?

Ain't no way I'ma be making the biggest financial transaction of my life and not get exactly what I want and be on the hook for paying for the shyt too

I rather be flexible and move around as a renter with no ties or live in my damn car

 

[dora_da_destroyer]

This is the new normal. Folks will have to lower their standards, accept the renter life, or move.

Or start getting married again. I can’t for the life of me understand the GMB mentality, the I can’t afford to be married excuses, or on the women’s side, I’m not going 50-50. People rather pay a whole rent/mortgage on their own, or not be able to afford to own, rather than find someone to partner and build with