Will housing ever be affordable again?

[Insensitive]

What is the plan for your biz? Buy and hold, single/multi family? I wonder how that looks in this day and age with high prices, interest rates, taxes and insurance.. These numbers dont even make sense nowadays.. I remember getting in and the buy and hold guys used to turn their nose at anything under 2% rule.. Now people will take 1% with a smile..

I actually need to go bump the real estate thread in 6 fig

Focus completely on buy and hold.
My holding period is until the long sleep. lol.
I'm willing to eat the high expenses and take on the interest under the belief that at some point the interest rates will go down.
And likely whenever those interest rates do take a hit, then I expect my property (ies) to appreciate, around that time, I'll refinance
and either purchase more or hold onto the cash and continue with debt paydown.

My goal is to have it grow substantially while I'm still investing in stocks (Index Funds and Individual Companies).

I want to keep my strategy as simple as possible while staying in my W2 as long as possible.

 

[TrifeGod]

shyt crazy, my sister bought her home in pittsburg and she’s givin’ it to me, just gotta make that leap across some states…i love loft type housing but shyt is redic…lowkey people be jumpin from hotel hotel smh

 

[Sir ZDuke]

Don’t see the fed funds rate coming down anytime soon with inflation being so sticky. Markets are still pricing in two rate cuts this year, but I suspect we won’t see a rate cut until 2025 especially with the election. That said, we probably won’t see 2-3% rates unless there’s another world shaking event

 

[Dipsey Doo]

I wonder if some people live in reality. Starter homes are available if you aren’t living on the West Coast (coastal) and parts of the Northeast. Two houses in my sub division outside of Atlanta have been on the market for months.

You just need 3.5 percent down plus closing to cop a home. The seller will sometimes even cover a portion of the closing.

It’s not easy but it doable. I just want to see us win.

 

[HabitualChiller]

Build more housing in general and ban corporate ownership of single family housing.

That’s why they are building so many apartments and large corps are buying up mobile home parks.

Big money makes moves before the rest of the world and they know the majority of folks who aren’t already homeowners will be renters throughout the foreseeable future

While we're at it, ban foreigners from owning US property. Why the fukk does China own land over here? So we can ban TikTok, but taking land back from China is a step too far?

 

[skyrunner1]

Focus completely on buy and hold.
My holding period is until the long sleep. lol.
I'm willing to eat the high expenses and take on the interest under the belief that at some point the interest rates will go down.
And likely whenever those interest rates do take a hit, then I expect my property (ies) to appreciate, around that time, I'll refinance
and either purchase more or hold onto the cash and continue with debt paydown.

My goal is to have it grow substantially while I'm still investing in stocks (Index Funds and Individual Companies).

I want to keep my strategy as simple as possible while staying in my W2 as long as possible.

Good plan. When I started I came in flipping everything and took awhile before started holding stuff.. If I had your mindset from beginning holding on to sfh was picking up for 30-50k and now worth 400k+.. Cant complain tho, still made out decent..

Will also add since you have good income, the quicker you can go multi family.. The better.. Thats the other thing I have learned in recent years..

 

[CouldntBeMeTho]

 

[Pegasus Jackson]

I wonder if some people live in reality. Starter homes are available if you aren’t living on the West Coast (coastal) and parts of the Northeast. Two houses in my sub division outside of Atlanta have been on the market for months.

You just need 3.5 percent down plus closing to cop a home. The seller will sometimes even cover a portion of the closing.

It’s not easy but it doable. I just want to see us win.

What city you in?

 

[Gritsngravy]

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.

The question is, who is the gov trying to protect

Who basically hurts the most with falling property values

I think it’s the banks and that’s why the gov been hands off with this situation and why folks was bailed out years ago

 

[Ghost Utmost]

Think about it.

If the AVERAGE PERSON can't afford a house? Who is gonna live in all the houses?

This is why houses are dirt cheap in Detroit. They are largely empty. The longer that masses of houses sit empty, the lower the price will go.

 

[Gritsngravy]

People love blaming corporations or investors for the current situation but honestly, it's American homeowners and their attitude towards home ownership that's the real problem.

Americans treat homes like investments. everyone expects or wants their home to appreciate, to either sell at a profit or borrow against the appreciation.

This leads to nimbyism, classism, and racism which is the real reason why more houses (especially starter houses) are not being built where they are needed. The shortage attracted big investors who normally ignored the housing market.

So it’s not the banks, corporations, and hedge funds who treat homeownership like investing, and a mechanism for making profits

But it’s the regular ass citizens, people who been working they asses off for years to be able to save enough money so they can get a bank to help them pay for a house, a house they more likely than not plan on keeping in they family for generations, you saying they the problem for why certain people been manipulating prices of land

The same people who openly been conducting red lining practices stilling trillions from black folks because of fugazi pricing

 

[CashmereThoughts]

I think it’s the banks and that’s why the gov been hands off

The cold and disgusting truth.

 

[Forsaken]

Going to be some sad people when them interest rates don't drop.


The government doesn't step in until things go completely off the rails. Property investors losing money is of little concern.

 

[richbosszar]

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.

would have to cut off all the spending and reallocate capital,

 

[richbosszar]

Copying ideas from a failed state like the Soviet Union, brehs

its either a temporary period of soviet union or a long term period of weimar republic, which one you want? both were awful,pick your poison