/biz/ - Business & Finance

>>19483366
because millennials arent getting married, and they don't make enough money to buy a million dollar home/apartment in the big liberal city where they work.

>>19483366
Well these boomers are certainly getting cucked on their property tax assessment, but I think they're going to have a hard time dumping their bags on someone else.

>>19483390
>big liberal city
>Arlington, VA

>>19483366
Wtf...that has "Bubble" all over it.

>>19483366
because the housing markets about to crash

>>19483366
Because Boomers know what they got and won't take lowballs

Live in Northern VA outside DC - can confirm housing is a bubble around here and never seems to drop in value. Very difficult to be young and afford a home in this area, most likely you will need at least 1 roomate just to split an apartment, more if getting a house.

Everyone here basically has to go further out west, sometimes even to west virginia to find a 300k house they can afford. 300k.. in west virginia

All these gov't officials and high paying IT and IT sales jobs have all the houses in good locations

That's a pretty good return, but it's not huge. Stock market with re-invested dividends probably would have done better.

>>19483366
>I know what I have and won't sell for a cent less!

>>19483616
LOL

>>19483366
Exactly because of your pic.

Deteriorating property us worth 10x more than 20 years ago when millenials were teens.

Unemployment up. Wages stagnant if not lower.

Why would we buy now? Boomer will die. Then real estate will go down. Demographics.

>>19483366
Boomers trying to get a gorillion dollars from their shitty papier mache McMansions.
>unemployment up
>pay stagnating across the board
>shit gets more expensive
>not even counting the behemoth that is meme debt
Shit isn’t hard to figure out. You’d have thought people would learn after 2008 but I guess not.

Aus government now looking at providing grants of up to 25k for home renovations, taking my FUCKING TAXES AND GIVING IT TO BOOMERS TO DRIVE UP THEIR HOUSES I CANT AFFORD FUCK

>>19483521
NOVA is a liberal shithole full of foreigners and federal employee niggers

>>19483366

We're too poor.

>>19483813

Up to 40k, only for first home owners but I aint falling for that meme. Shit is gonna DOMP

real talk, when will housing prices bottom? surely they're going down over the next 5 years, but when do we know there is a bottom?

>>19483733
No it'll just get bought by some bank and bundled into mortgage bonds with the prices supported by central banks buying the bonds and then rented out yo the goyim

You dumb fucking idiots. The prices will never go down for you to time the markets. They might grow slower but that's the best you can hope for. Stop throwing your money away on rent ffs.

>>19483813
>>19483920
lmao here in Canada 20% of homeowners are deferring payments aka bankrupt compared to only 8% in America when their bubble burst, Canada and Australia are mcfucked

>>19484003
Bump

>>19484055

Its been fucked in aus for ages, the government will go so far to prop it up its not funny. Way too many people with insane household debt

>>19484055
Nah, the chinks and poos will save us. Diversity is our strength!

>>19483670
Only if you had $190,000 in cash idiot

>>19484055
Dumb fuck ok. We're deferring payments and sticking all our wages in stock market. We'll be paying the mortgage and we both have an extra 40k stock market portfolio. Really makes you think

>>19484219
And these are the people offering financial advice here. Oof

>>19484251
I'm all ears Mr I've got $100k I know what I'm doing. There's a level there that you're behind on.

>>19483366
Don't ever post my house on this website again or I will contact the authorities.

>>19484181
But shipping containers are aesthetic if you don't just plomp it down on a slab of concrete

in the year 2100 population will peak. Housing prices will go down as population declines from there.... which means prices will peak sometime before 2100, maybe even today they are at the peak

>>19483366
They're losers. I'll only have 400k by the time I turn 35 (assuming there isn't an actual depression in the next 10 years), but that's a sizable down payment. Also, houses in my region are only 120k max. T. Chad flyover state citizen

>>19483733
>Wages stagnant if not lower
bullshit

>>19483837
except it is not a shithole by any means. you are just jealous of their wealth. stay mad.

>>19483366
Holy shit it's real I looked it up

https://www.zillow.com/homes/3227-20th-Rd-N-Arlington,-VA,-22207_rb/12065110_zpid/?

I just bought a 1.25mil house in Texas that makes this house look like shit. What the fuck.

>>19483670
They probably bought it with 10% down .

>>19483366
>>19483579
https://fred.stlouisfed.org/series/BOGMBASE

>>19483366
>10k/yr property taxes
That's fucking $200/wk. You're pretty much just renting the house from the government.

>>19483366
Too expensive
I don’t care about renting being a poor financial decision I am playing my role is stopping this boomer scam.
We are at the end of a generation that has devalued the dollar significantly, while wages have stayed stagnant.
And cost of living is more expensive than ever.

>>19484003
They will crash and then go sideways for the rest of your life. Housing is never going to be an investment again. Why would it go up? No one is having children, people are all buying tiny homes and living in tents and shit because they don't have families so don't need a house. There is literally negative demand for housing once the boomers die and 50% of the population inherits a house.

>>19486031
plz rich sirs send bitcoin

>>19484219
This. Did the same

>>19484745

Lol that can't be real. The toilets part, I mean.

>>19483366
I bought a house with my AAVE gains and i'll buy a second one in 2021.

>>19484828
Kek. Imagine actually believing this

>>19483366

Are you kidding me? a million dollars for a wood on stone house which looks like diarrhea?

>>19483616

Yea and boomers will vanish from earths face in the very soon decades and i will single handle go to the graveyeard and jizz and spit on your fking graves. Fking boomers

>>19484050
>t. increasingly nervous boomboom

>>19484219
>lets risk it all in the only market even more in a bubble than real estate
You'll lose it all you dumbfuck greedy retard

>>19483390
There are no jobs. I haven't eaten a good solid meal in two days. I apologize for my existence.

>>19484734
What are the best white flyover states?

>>19488556

Where you from anon

>>19483366
Supply and Demand

Supply
- limited number of homes on market
- limited land and housing types that can be built so new ones can't increase supply effectively
- Years of people seeing homes as investment vehicles which turned real living shelters into abstract financial interments. So more people hold/hoard them planning to wait out the expected crash to make money
- growing push to have younger generation Rent, or HOA, or Tax structure that is effectively renting. ("Get rich like I did kid. Start by just renting one of your homes out" - advice from a rich old landlord)
- many are old and/or poorly built (I am to the point I want to build my own, but it is a minefield of restrictions)

Demand
- depressed by lower wages, effective income of millennials is very low
- loan options are more predatory then in the past which give pause to taking out such loans
- millennials are staying with friend and family spreading demand over a longer time window
- they are too expensive

Everyone is holding their position trying to one up the other like this is some zero sum price war.

>>19483653
Yes, I live NOVA and coworkers drive in from other states just so they can afford a place, a few even do Van life as they can't afford things. People see me making 120,000 right out of college but don't realize I can't yet buy a home here and just barely manager to live here. 2 pay checks from default, and that is actually really good. Other are shocked that as a middle level manager live in such a tight budget, one person assumed I was a janitor given my living standards and odd work hours. I don't have streaming services, a computer less then 12 years old and I never eat out even fast food.

>>19483366
Shit better come with an umbrella corp underground city

>>19483616
Lol all of their health is failing. Cracker barrel and peanut butter and jelly sandwiches have wrecked their health.

Time to die you fucking worthless selfish pieces of cat shit.

>>19486593
You are the smartest man on biz.

>>19488637
Wisconsin is definitely a good one

>>19484037
unfortunately this is basically what will happen

>>19483803
No, they haven’t learned. In my age group (25-30) most act like they’re 13 year olds with their sense of humor and also what they consume. I am an alien in my age group because I save money like crazy. I have only a mortgage and plenty of assets

>>19484734
If you pay off your house in 30 years, technically your gains are stomped on. Interest on 30 years equals to about double the cost of mortgage rn. You pay on a $150k mortgage for 30 years, and sell it for $300k, is your profit $0 or $150k? Tell me
And don’t tell me you didn’t get a fixed rate, please
>tl;dr pay off your house within 10 years or yer fuked. Debt free is key

>>19486498

no way

>>19488637
I hope you enjoy living with rednecks and boomers who think the second coming of Jesus is around the corner

REMINDER

>>19484646

>>19484050
OK Boomer

>>19490300
Verily

>>19487770
Hope you deposited and bought with the DAI or whatever you got on margin. Imagine actually selling LEND before the golden bull.

>>19489928
You're gonna make it.

>>19490224
Better than living around a bunch of niggers that like to steal and shoot up the neighborhood.

Thanks for the listing op, just made an offer ;)