Will housing ever be affordable again?

[MegaTronBomb!]

Yall better go join the military.

I live in a new housing community, homes 400k. Just opened last year in August. Every house (around 70-90) is sold and/or occupied, and they're building more. Sold signs in front yards within weeks.

All or say 95% of the owners are military or veterans. That VA loan is a cheat sheet .

Thing is, depending on the state you're stationed/retire/separate in... that's still not doing you any favors. Especially in Hawaii and Southern California.

But places like the Phoenix and Vegas suburbs

But for all the shyt you see on this board about blacks joining the military and why you shouldn't, they overlook that a lot of the post WW blacks who bought homes in many cities and made the black communities they wish would come back did so because of the VA.

But because of how we view housing, your neighborhood is guaranteed to have a solid portion of them homes being rented out, or as a easy opportunity for a short-term rental....which only exacerbates the problem.

 

[Gritsngravy]

Yeah you're right, i don't think housing will get better when I really think about it.

It does not excuse these ridiculous prices at all. But if it does, all you can do is prepare yourself you know.

I'm not denying that we have it way harder and things and things are getting worst. I'm not saying "pull up your bootstraps" because life's already not fair, and usually ppl who say that were born with leg up.

I’m just saying, I wish citizens actually could stand together on issues

Housing is one of them issues

 

[Prince.Skeletor]

I just wanna say that I would be living a completely different life if housing wasn't insane.

 

[winb83]

Rents are high and rents can go up yearly.

We know how this is going to play out in the end. People will be stuck in their low interest homes upside down on their mortgages. Not an issue if you can afford it and plan on living in the house long term.

When you rent thats all you really pay. When you buy a home your monthly payment is the floor not the ceiling. You make the case that rent can go up. Property tax and insurance can go up. If the furnace or air go out and you rent it's a phone call to the landlord. Own a home and that's a hit to your bank account. Need a new roof. That's on you.

There's a legitimate argument to be made that you will always need more money to buy and own a home than you will to rent.

I have an interest in buying a home just like I had in buying a brand new car. In both cases I believe it to be a poor decision the difference being I refuse to buy a home in market conditions that means I have to rush into it and bid up the price against other buyers. If I can't take my time and buy at a reasonable price then I guess I never will own one.

 

[Mass]

Fine or just powerless?

A combination of both. If people truly, and I mean truly came together change could occur but societal distractions lead to infighting so you end up with pockets of people trying to make moves, and those individuals or groups of individuals are largely powerless.

 

[Forsaken]

When you rent thats all you really pay. When you buy a home your monthly payment is the floor not the ceiling. You make the case that rent can go up. Property tax and insurance can go up. If the furnace or air go out and you rent it's a phone call to the landlord. Own a home and that's a hit to your bank account. Need a new roof. That's on you.

There's a legitimate argument to be made that you will always need more money to buy and own a home than you will to rent.

I have an interest in buying a home just like I had in buying a brand new car. In both cases I believe it to be a poor decision the difference being I refuse to buy a home in market conditions that means I have to rush into it and bid up the price against other buyers. If I can't take my time and buy at a reasonable price then I guess I never will own one.

Renting would be ok if yo to could guarantee you had a decent landlord. But a lot of landlords suck. They want maximum rent and do the bare minimum. I prefer being my own landlord.

HVAC and Roof replacement is expensive but that's what home inspections are for. Need to factor that into your cost.

 

[Geek Nasty]

I’ll never understand how a basic human right became an “investment” to be bought and sold.

Like go find the cure for cancer or something. Think of an ingenious way to easy gridlock. Innovate. But na it’s just a big game of musical cheers and you hope there’s a seat for you when the music stops. Nasty work.

This all probably started with ARMs, they created loans explicitly to ensure you move out in a few years. So high turnover, high volume. Then mortgage-backed securities came along and Wall Street could trade tranches of mortgages easily.

Then corporations got into single family real estate post-GFC.

I’ve seen some analysts saying there’s not really a housing shortage. It’s just investors sitting on property trying to drive up prices. In my Zillow searches that’s exactly what I see in KC. Houses empty for months to years with prices that never drop.

 

[Action Mike]

The cure for high prices is high prices

Might need to reach a critical point..

 

[Json]

It’s kinda crazy how most shyt is “let’s manipulate shyt to the point where we only ahead”

My YouTube algorithm has turned into a flood of housing videos and it’s crazy how we have basically forced ourselves into no choice.

The types of apartments and housing we now refuse to build is basically causing a lot this.


This videos is what started me on seeing how builders have basically cornered the system

 

[Richard Glidewell]

This is the shyt they need to be focused on.......foreign and corportae interests that are devastating to the so caked American dream..........

 

[Arizax2]

Move to states like SC where they are building houses left and right in all price ranges. It's the only way to get in early cause these house prices up north is nuts. I left NJ not going to pay 15k in property taxes fukk that.

 

[Geek Nasty]

Move to states like SC where they are building houses left and right in all price ranges. It's the only way to get in early cause these house prices up north is nuts. I left NJ not going to pay 15k in property taxes fukk that.

I had a repair guy here he said that the dude in KC who shot some cops did it because they revalued his house 3X as much and he couldnt afford property taxes anymore.

Missouri police officer, process server killed in shooting, police say | FOX 10 Phoenix

A court employee who was serving an eviction notice and a police officer were shot and killed outside Kansas City on Thursday.

www.fox10phoenix.com

 

[Arizax2]

I had a repair guy here he said that the dude in KC who shot some cops did it because they revalued his house 3X as much and he couldnt afford property taxes anymore.

Missouri police officer, process server killed in shooting, police say | FOX 10 Phoenix

A court employee who was serving an eviction notice and a police officer were shot and killed outside Kansas City on Thursday.

www.fox10phoenix.com

Taxes up north is ridiculous. Only reasonable place for taxes up there is PA. Taxes are only going to get higher just image what it will be at by the time you retire. Cost of living pay adjustment at your job not gona cover the real percentage of inflation. Might as well take my retirement and social security and live in Cancun .

 

[winb83]

What Is the Median Household Income? - NerdWallet

Median household income declined from 2021 to 2022 by 2.3%, according to 2022 U.S. Census Bureau data.

www.nerdwallet.com

The national median household income is $74,580

NAR Finds Typical Home Buyer's Annual Household Income Climbed to Record High of $107,000 in Wake of Rising Home Prices and Mortgage Rates

Buyer income annual increase of 22% is largest on record (from $88,000 in 2022 report); down payments jumped to highest percentages in two decades.

www.nar.realtor

The median household income for home buyers jumped to $107,000

That's a $32,420 difference. The median income in United States of America was $34,429

United States of America - Place Explorer - Data Commons

Data Commons aggregates and harmonizes global, open data, giving everyone the power to uncover insights with natural language questions

datacommons.org

That means the median family needs almost a whole additional income from a person to buy a median home.

 

[CashmereThoughts]

Corporations are buying single family homes and turning every room in the house except kitchen, dining and bathrooms into rentals

Population in America has jumped from 225 million to 350 million in my lifetime

These people need to live somewhere

Supply and demand says these prices never go down unless the population goes down

This can easily be solved in a decade. The federal government can build masses of apt buildings for the working class. This will put Americans to work and put billions into hands of those needed good work. The Soviet Union did this.

If the govt decided to compete with greedy developers and establish a new “market rent” value in these markets where it’s artificially inflated the housing crisis would end.