Will housing ever be affordable again?

[Armchair Militant]

Not on the coasts

 

[UpNext]

It will never change. There's no political incentive to seriously attack this issue as people will vote for you regardless as to whether or not you address it.


All the complaints about real estate are lip service. People are largely fine with the system the way it is.

 

[GetSomeMoney]

It's unfortunate that fully remote work didn't stick as that did increase options for many people. With the focus on hybrid, many of the cities that benefited from remote work have started to see declines (Boise and other mountain west cities). Remote work did open up some real estate in major cities and the surrounding area. The only option now is to buy when you see an opportunity, don't wait. You aren't just competing with people in the US but international investors as well so supply just can't keep up.

 

[ItsPeople]

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.

 

[PatCake]

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

 

[Loose]

You pretty much better off buying now and waiting for a refinance if rates ever come down. The people who bought before COVID and refinanced into 2-3% rates made a killing. I see people saying they're waiting for rates to come down to buy. I say you and everyone else and when that happens you gonna be in a worse position than right now.

Yup there's a large population of people waiting, right now arguably the best time to buy

 

[Buckeye Fever]

I think houses need to depreciate like cars.

Why should a house be worth the same or even more after 100 nuts have been bust in it, when simply just driving a car off the lot knocks a few thousand off its worth?

 

[Sly Cookin]

Well considering 44% of homes were purchased by corporations last yr, I think it's a wrap.

The high end estimate before the numbers came out was supposed to 28%. If it was 28% it was projected that 60% of total homes would be owned by corporations by 2030.

Well now that it's 44% that timeline has sped up

 

[Formerly Black Trash]

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

Another issue is America has decimated, infiltrated, and now makes their own fake movements

No way for ppl to seriously mobilize

 

[beenz]

I mean mortgage rates are 7% and the prices of houses are still fairly high. Whenever those rates come down the house prices will just continue to climb higher. If rates ever got back to 5% people would lose their damn minds bidding up the price of houses. Outside an economic meltdown I think we're here to stay on housing prices the average person can't afford.

the only thing that would help would be to increase the supply of housing. we have waaaayyyy more people here in the united states than we did even in 2010. in 2010, there were only 308M people here and now we have 331M people here in 2024. there hasn't been any significant increase in the amount of available housing, yet there are way more people. I don't see housing becoming affordable until there's a drastic increase in supply.

 

[DaPresident]

Nope. And neither is gas

 

[Drip Bayless]

If the American government decides to actually regulate corporations and the ultra wealthy
Which will probably never happen again

 

[Hoodoo Child]

It will never change. There's no political incentive to seriously attack this issue as people will vote for you regardless as to whether or not you address it.


All the complaints about real estate are lip service. People are largely fine with the system the way it is.

Fine or just powerless?

 

[UpNext]

Fine or just powerless?

They're fine with it. If it's the other way around, you might as well not even waste your time engaging politically

 

[Shadow King]

Yes.

It will have to involve significant regulations on real estate investment trusts(REIT) and barriers on private equity firms to keep them from buying any property that is not used as a residence. In essence, companies will be kept out of buying homes.

A few big banks will also need partial ownership by government. If the government is a major shareholder and has veto power, it stops housing speculation dead in its tracks.

Elected officials will also have to be prohibited from trading stock and must have their assets put in a blind trust. They can only access their funds in the event of a personal emergency but otherwise they must live off the salary they make as an elected official which cannot exceed more than 1.5x the national average income.

Lobbying itself will have to be made expressly illegal, and cities will have access to federal funds for affordable housing if their zoning laws show a clear prioritization for housing as many people as possible.


We will get these reforms only after a gigantic war pops off or the tech bubble bursts and takes 2 or more big companies or VC firms down with it. The good(or bad depending on your perspective) news is that is going to happen in the next 15-30 years. If you can wait, you will get to spend your 40s 50s or 60s in your own home.

So in other words no.

not in the big cities everybody tries to cram into.

Supply and Demand.

Housing still cheap af in the majority of the country. Just gotta commute a lil further

Doesn't solve the issue and perpetuates it.

Threads full of doom and gloom lol.

You can buy, it's just not how we all think it's gonna happen. Yesterday's world is yesterday, and today is today. Gotta adapt, or get left behind tbh.

I know guys who get frustrated about how expensive life, which is okay. But idk where they get this idea that they life wasn't going to be hard especially when they didn't pick up a trade, go to school or grind out at a job for minute.

The Situation depends, like where I'm from you have to leave the city and move to some bumfukk town. The good news about that is they're developing areas pretty quickly.

Bootstrap babble.

None of this deals with the issue of homes being north of 10x what people earn.