/biz/ - Business & Finance

>>22903832
They can get a lot higher.

try melbourne

Phoenix metro is getting flooded with filthy Californians thus driving the price up.

I don't think there will be a crash anymore, at least not here in Texas where Californians keep moving in.

I live in chile. here prices seem to keep increasing as well. even rent has gone up, though they try baiting people by halving rent for 3 months and then rising it again... at higher prices than the starting point.
this fucking crisis will make inflation explode.

>>22903832
Ease of access to credit on an inelastic product (you either buy or rent to pay someone else's mortgage). The real shit sandwich is that when it fails anyone looking to buy at a reasonable price will be outbid by foreign investors looking to off-shore their money, companies cornering the rental markets and lenders who would rather a house sit vacant than take a loss.

>>22903914
>average wage - $37,000
>average house price increase year-on-year - $43,000
there is literally no way to buy a house here. Even if you use 100% of your income on mortgage payments you won't make it.

>>22904400
How is crypto in chile ? I always wanted to go there

It will never crash again sadly. Buy now or cry later.

Companies like this keep buying up any decent houses.
openhousepm (.) com
They share the rent with foreign investors. This is a Japanese real estate company that has expanded into Dallas. They purchase HUNDREDS of homes each month. The chinks are your landlords now.

>>22903832
Letting them crash would cause massive immediate short-term problems, whereas letting them slowly rise increases the dependency of the average normie on the government and increases the power of those in control.

>>22904745
How do you check which ones are foreign owned? I'm doing a little snooping and it's confusing. The person of contact listed is a (white) Joshua Edward DeShong, but he looks young and sources are saying he's only 27. Is this some kind of shell?

>>22903832
>live in Phoenix

Why? You can move somewhere else and it'll be better. Even NM is better than AZ at this point. Thanks CA.

>>22905012
>Even NM is better than AZ at this point
Its not

>not renting
lmao

>>22905068
NM is AZ but cheaper.

>>22903914
Totally been considering regional Vic when I finish uni. Can get a three or four bed house in Traralgon for under $300,000

>>22903832
>housing prices increase 10% every year
I came to /biz/ right now because I was hoping a thread like this.
I figure it has to be inflation. I see so many houses for sale here in Los Angeles. I looked at Zillow and Houston was covered with red dots too. NYC looks like a red blotch.
I figure this can't stay like this forever. I've been following the housing market for a long time and after the riots houses started going up like crazy. The way I see it, we're in some weird pre-panic phase before the market really tanks.
The election, the pandemic, and the Fed's generous deferral of rent has just pushed everything down the creek for a bit.

Unless investor confidence that their assets will continue to appreciate, or if the Fed injects TONS more cash for people paying mortgages, then I don't see how this will play out well in the near future for those who already own.

>>22903914
>>22904584
If that's Melbourne, then I really do feel bad for you Aussie anons.

>house prices increase 10% per year.

Exactly the same rate as the stock-market. Really makes you think.

>>22905178
>NM is AZ
There's no constitutional carry in NM. Nice try.

>>22905337
Oh man, this.
Mortgages and rent being deferred until the new year only compounds the amount owed. I honestly don't know how this house of cards remains standing once those payments come due, and eviction is back on the menu.

Priced in faggot

>>22903832
Best part is (at least in So Cal) all their "gains" and "appreciation" is almost exactly the amount of property tax these cattle pay.

>look anon my house went up another 20k!
Ok zillow says you pay 22k a year for browns to get free everything and brand new schools for your nonexistent children
>angry npc noises

>>22905361
yet they didnt crashed in March.
REALLY MAKES YOU THINK

>>22905513

stock market have recovered already.
of course people dont instantly sell their houses when things look bad. it's a slower process.

tfw only own one house

>>22905350
It is. Also the average house price in Auckland New Zealand is 1 million NZD and the average house increases 1000 NZD per week in value.

Truly the biggest of clown worlds

>>22905337
The problem is, as some anon stated earlier, if the prices try to tank these huge institutional investors come in and scoop up the discounted homes. It might be even worse so that these buyers are for example chinese and so you have to pay rent in America to chinese investors. LOL. The housing market is so absurdly fucked.

>>22905570
but if the housing market crashes, then normal people can buy the houses at a discount from the chinamen right?

>>22905582
>discount from the chinamen

Prices are never tanking because interest rates are never going up.
As long as interest rates are zero then it doesn't matter if houses are affordable or not. You borrow money and buy one and that's that.

>>22905582
Well it would basically turn into a bidding war. And I don't think the china men are selling easily. You see the problem is that everything is correlated to the demise of the US dollar. Chinese used to buy treasuries with their dollars. However, now treasuries yield nothing so they don't want to buy them anymore and instead they are buying other assets such as real estate and stocks. Like any other investor they want return for their money and because of the FED policy you cannot make money if you are not involved in the stock market or housing market because yields are artificially low and way below inflation.

I think another thing to look at is population growth has started to flatten. What this gives us is basically landlords and the like are sucking the resources out of classes, and keeping classes poor or generally forced to pay up unless they're willing to move elsewhere. It's normal cyclicality. The issue is, so many people and classes are gathering power now, the most efficient way to do it is with a team of people, not just on your own.

Rents in my area seem to have stagnated, slightly climbed, or similar. The lower priced ones are much harder to find. I live approximately 2-3 hours West of Philly.

Part of it is area dependent. Some people are willing to drive 1-2 hours to work just for a few hundred cheaper a month. Pair that in with all the muh wealth arrogance, the fact that information is far more easily available, and you have a hedging in of the moderately upper middle to the bottom of the barrel classes.

What will cause prices to fall is lack of sales, lack of population growth, over abundance of product (homes), and quite apparently a number of other factors.

What data tells us is that houses are still being built quite considerably, at a pace that may far outpace the population growth. Population growth, as stated earlier, has been generally tapering off in many countries. China has already started economic warfare on so many fronts and I'm hearing stories, even in my neighborhood of them buying up properties here, the middle East, Canada, and elsewhere. They're playing the long game.

Remember, buying power is a form of power, not power in and of itself. It's just a derivative form.

You can really tell and pull the research to see if there's going to be another pricing downturn. My guess is the .gov would rather blow the dollar out than have houses float down. The USA pop. is too financially out of control to stop buying on debt, and seemingly, the population is so engrossed in other unimportant issues, this won't change.

>every securities and commodity market has crashed
>unemployment at all time high
>1 million people dying and rising
>eviction not allowed through the end of the year
i wonder what happens next to the housing market

>>22905706
Eviction being slammed at the end of the year causes price high, not drop.

This virus isn't as bad as the news makes it out to be. They're milking it.

>>22905706
Nothing. It literally does not matter anymore if anyone even lives in the houses. They will be bought up by big money anyway and the more time goes by the harder it gets to own your own home even if the number of vacancies are increasing.

>>22905654
Being a rentier parasite only works if your debt slaves actually have an income to give you 40% of. There are now too many rentiers and not enough debt slaves, and the debt slaves are going broke. Landlords will accordingly have to start lowering rent to fill their empty houses, as people can no longer afford to give away 40% of their income, and will just move back in with family instead. We might see rents "only" being 20% of average income again in the next few years, and house prices should fall accordingly.

>>22905706
>real estate investment trusts increasingly own property
>only goal is to maximise profit for shareholders
>mass evictions Jan 2021
>some people refuse to leave but suddenly the percentage of vacant houses skyrockets
>squatting becomes normalised as nobody can afford rent
>real estate trusts don't care because they write it off as a tax loss
>the united states becomes germany in the 80s where it is perfectly normal for annual rent to be a grand total of $0.00 and everyone in the situation being okay with it while the government gets shafted

>>22905743
Big money will buy all the houses, but I fully expect to see revolutionary sentiment regarding land becoming normalised within our lifetimes. The idea that in 30-40 years, only 10-20% of people will actually own land is unsustainable. Everyone left of Ayn Rand has become increasingly against the vice grip that capital has held over labour since the 70s. People will either emigrate en masse to countries where they can afford to survive, or more likely, simply revolt and take the house they live in by force.

>>22905363
Injuns and beans and cowboys don't give a fuck. NM is the last of the old west without a metro area as disgustingly overcrowded as Maricope-a.

So you guys are saying, come Nov.-Dec. short REITs, the ones you think will be hit the hardest, and what can we put calls on... lawyers?

>>22903832
The Fed is printing money and interest rates are historically low. Capital is flowing like hotcakes, and retarded normies are taking out loads of debt. IF the government ever decides to grit and bare the real fiscal impact of Lockdowns, they'll crash.

>>22905582
Have you ever seen the Chinese at a housing auction? They would more readily cut their only child's throat than lose and auction to a white man

>>22905832
Not to mention the cessation of evictions that most states are engaged in.

I've lived in Phoenix my entire life, I have a well-paying 6 figure job, and I am SO fucking ready to get the fuck out of this shithole.

>used to enjoy the outdoors, fishing, hiking, biking, you name it
>the people used to be nice and talk to each other, you knew your neighbors and felt safe

cue the shithole californians...

>literally cannot go to a lake or river without an infestation of dirty spics throwing their kid's diapers on every bush they see
>fuckheads at game & fish have done everything in their power to disallow people to go into wilderness areas that used to be free
>literally 10$ to hike in a non-infested area which was free 5-10 years ago
>oh, you want to go to the lake? which one? Doesn't matter, they all cost 80$ a year to go to and are filled with trash. Oh and good luck parking.
>now have to pay $400k to live in a cookie-cutter house that looks the same as everyone else in your soviet bloc
>climate change coupled with the concrete jungle of phoenix has made everything unbearably hot, even for my standards (literally 115+ regularly)
>city refuses to upgrade their infrastructure unless it's for a "liberal arts center" which looks great while bridges over Tempe lake literally fucking collapses a mile away
>dumbfuck californians are now trying to get high-earners like myself to pay more in taxes

myself, and all my family including my parents and grandparents, want to leave. We've all lived here for virtually our entire lives and this mexican shit is too much.

>inb4 "aNoN bUt ThE fOoD iZ SooOooOOoo gOoD"

Fuck off, it's not worth being blasted by an oven while watching my 12th spic kid sneeze on the Filiberto's counter and then have his mother order in Spanish. Fuck you

Anyone who chooses to move here is a fucking retard and all the smart people are really looking to get out and go somewhere that's either cheaper, or somewhere where the taxes you pay actually benefit you. Stay far away.

How long till shtf

>>22905823
>niggers don't care about the law
You're bragging about this?
>caring about a metro
Fucking cityfags.
>Maricope-a
kek
>>22905906
>surrendering to califags and retreating
Coward.

>>22903832
Anon if you want a house in Arizona get one in Maricopa.

Only a retards want to live in fucking Phoenix anyway. Like forget just the prices,the population is a slum with prostitutes,homeless people and drugs and Phoenix typically has shitty little condos or townhouses going for the same price as actual houses do in Maricopa.

>>22905906
>somewhere where the taxes you pay actually benefit you
and where would this magical place be?

>>22905959
>coward
Have fun fighting a losing battle, dumbfuck. Enjoy paying 40% income tax (you probably won't because you likely make shit fucking money) and having niggers bust in your window just for a laugh. I'll be enjoying my wealth in a cabin in Montana's Bitterroot.

>>22905987
Do you share your food with others? :)

>>22905987
Wyoming, Montana, Idaho. At least taxes there go towards keeping the land open and free to hunt and fish, even if they still aren't allocated properly.

>hurr durr nowhere has a good tax system so you should stay in your shithole

>>22906007
>Have fun fighting a losing battle
The statement of a defeatist coward. It's expected.
>40% income tax
Just gonna lie about shit, huh?
>you likely make shit fucking money
Now you're projecting.
>my wealth in a cabin in Montana's Bitterroot
Then immediately move to fantasy.
kys, coward

>>22903832
>wanting mr. goldberg's real estate company to lose money

>>22904584
>fags mortgaged to their eyeballs in melb are trying to get people in with discounted rent due all the chinese students and shit leaving
>houses going up for sale all across the state at an alarming pace due to people losing their jobs and scomo taking away jobkeeper
its literally on the cusp of collapse bros im keen

>>22906062

>>22906078

>>22905764
>calling landlords parasites

>lives off government gibs

ask me how i know you're voting for biden lol

>>22905805
I know well that it is far from sustainable and starts to resemble slavery very fast if we have no option but the rent from our capital overlords at their terms. However, I am less convinced that people ever revolt. A lot of things have already turned to shit and there's very little reaction. The normies won't even know what hit them, they don't even know what to revolt against. So I am sceptical.

>>22906048
>The statement of a defeatist coward. It's expected.
ahh...I should've recognized that you were a spic earlier. My b
>Just gonna lie about shit, huh?
can't lie about the future since it hasn't happened yet, dumbfuck
>Now you're projecting.
even if I were, makes no difference. You still work for shit pay.
>Then immediately move to fantasy.
closing on my cabin in a month, so done. You can have my leftovers like the gutter rat you are.

>>22903832
JUST GET A SOFTWARE ENGINEERING JOB BRO
ITS NOT HARD BRO
JUST MAKE 6 FIGURES BRO

>>22905906
climate change has nothing to do with the temperature in your city, because average temperatures are no higher than they were long before you were born. jesus fuck you zoomers and millennial's, indoctrinated to the hilt.

>>22903832

Immigrants.

>>22906102
>I'll call him a spic
I'm a wop, you ignorant nigger.
>I can tell the future
Nigger voodoo?
>even if I were, makes no difference
Poorfag projector confirmed.
>closing on my cabin in a month
Sure you are.
>Niggers in a Montana cabin
lmao

>>22903832

Mexican drug cartels.

>>22906026
not just there. i've gone ahead and marked the no-go zones in the USA in red here. outside of those, good place to live.

>>22906136
Lmao look at this dood

>>22906156
>the deep south
>good
enjoy your niggers

>>22906332
i blurred out the areas where they're in control. but you're right, Louisiana/Mississippi, Alabama, and south Carolina, are likely to be the next to need to be colored red.

Crashes don't happen anymore, the value of your money just gets inflated away instead.

>>22903832
>people don’t want to live in nice houses anymore

Try living in your car for a week. I bet you won’t last. Or try living in a shitty neighborhood where they blast psytrance at 4am every night.

>tfw Oh, you thought the police give a fuck?

>>22906456
problem neighbors are easily dealt with. had to deal with some problem neighbor dogs awhile back. dont hate me, i sleep better now, and that's what matters.

>>22903832
Where I live in New England, housing prices are up 17% since the pandemic started.

17%. I attribute that to those leaving the cities for the countryside.

>>22905972
Casa Grande,Coolidge, and Florence all work too.

But still don't try to buy a house in Phoenix. If you're thinking about it because of your job then get a different damn job in another area. If it's because you know you'll get easy pussy with all the homeless/prostitutes wanting a place to stay then (seek help). If it's because of the drugs,there's other dealers out there. If it's because of the vareity of stores you aren't gonna be visiting them every day dude.

>>22906508
it's more likely simply due to landlords, banks, home builders, etc, raising prices, due to the increased prospect of non-payment from tenants/buyers. you can offset months or even years of non-payment, by raising the cost to begin with.


it's just common sense.

>>22906487
You can also sue loud neighbors dependent on ordinances, political layout, etc. Make sure to have a reward for the .gov and see how they may be unreluctant to prosecute.

>>22906456
>living in a shitty neighborhood where they blast psytrance at 4am every night.
based

>>22905543
B-but "free" healthcare!

This 2008 housing bubble burst happening all over again

>>22904763
This. Its over

Phoenix fag here. Check out this picture I just took while night mountain biking. It didn’t come out too good but there was like 5 or six coyotes with their eyes shining back at me. I ride with my piece on my hip til I get to the trail cause I ride by some of these homeless people and I look into their eyes and it seems like they’re waiting to push me into a car so they can steal my expensive bike. This one guy called me a punto as I rode by him. I was like a foot taller than him too, I should’ve kicked his ass but I am a punto I guess. Lost my job, trying to join AF. Not sure what the plan is. I was hoping to buy a house cheap when the market crashes but you guys bring up good points that big money will beat me to it. I want to live in a super red hick state before they go extinct

>have been told the market would crash for 8 years now
>"don't buy now, prices are at an all-time high" - said every year
>finally decide to buy an apartment last year
>prices of apartments in my area are already up roughly 5,5 % percent from last year

Is it really that easy/comfy if you can actually manage to buy property?

>>22906845
I did the same thing in crypto on Dec 2017 and got cocky, by the next month I had lost everything I made. Bubbles bait you and lull you before rug-pulling.

>>22903832
Me and my partner have been on the market for a while and what I’ve found is that the chinks bought a tone of land right before this covid thing happened, and in aus the introduced a 25k grant to help the building industry if you build your first home. So what do dumb chinks do, hike up the price of land because they know young dumb Borneo’s are going to rush into it. Actually hate chinks with a passion

it’s kind of hilarious that people are resorting to racism instead of just simply blaming banks and corporations. why is it easier to be xenophobic?

>people living longer
>old people have more disposable income
>old people holding properties to rent out
I live in a rented house that some bricklayer owns, he owns 10 other properties

>>22905570
I agree with your assessment. There are both large domestic and international investors that are salivating to buy properties cheap. Chinese millionaires have been buying expensive houses in Orange and Los Angeles county for many years, and since they're smart, I'm sure they'll know when to strike.
>>22905582
As the other anon said to you, by the time prices drop, most normies will keep telling themselves to wait a little longer, but by then, the big fish will have already started getting the decent middle class properties in Torrance, Fountain Valley, New Port, that would otherwise go to upper middle class families. This happens with the general public during market cycles too. I've heard one Chinese billionaire bought a house in New Port for around 15 million without visiting it just so he has a place to stay while he was doing some business here in the US part time. They come in with full cash offers all the time and beat many people out.
There is a wildcard though, and that's the election. There is a *slight* chance that there will be so much chaos coming from it that housing price would drop anyways and large investors would just wait to see if there's a tolerable point where the dust settles.

>>22906456
>psytrance at 4am every night

Wait so where’s this? I’d like to move to Basedville, please

>>22906802
>trying to join AF
>Not sure what the plan is
Anon. Let me reassure you—that is actually a good enough plan because there are so many opportunities that come from joining the Air Force.
Almost every vet I've talked to has said joining the Air Force (Chair Force many have called it) is the best military decision. You get all the benefits of being a vet; free university, fraternity, and get the chance to gain real life professional skills that can transfer after you're done in the military.

Keep this in mind when you're there, trying getting a MOS/job there that will transfer to an in demand skill outside of the military as well.
In fact, I would google "what job can I do in the Air Force that would help me in my professional life/work after the military"
Air plane mechanic jumps out to me at first (my Great Grandpa was one), but I'm sure there are many many others.

>>22906279
>>22906136
Both of you are irredeemably massive fucking faggots. When you're done sucking each other off, can we get back to expelling the long nose usurpers, and their brown horde that caused all of this?

>>22903832
>live in third world country
>earn in dollar through comfy off shore job
>buy land like im playing monopoly
Why haven't you guys moved to easier countries where you could be making real estate left and right

>>22905834
kek

>>22906845
Inflation alone is at least 3%

>>22906067
I'm a lending banker at one of the big 4 and have upwards of 25 clients personally who are planning to purchase this month as they can now inspect properties. The Aussie mentality of property ownership at all costs is literally unstoppable. I don't see it dropping more than 5% from beginning of this year when all is said and done.

>>22908557

If the countries become failed countries you will lose everything.

>>22903832
They wont crash till you buy in. You just know it dont you?

>>22903832
Rich get richer, poor get poorer fagget

i would be willing to completely violate all of my political principles if it meant the government would seize all residential real estate from foreign investors and force IRs back up

>look at a house
>look up historical sales prices
>they bought it in 2012 for several thousands less than its listed for today
>the owners have do nothing but live in it

>>22909171
done*

>>22909195
imagine falling for the meme that real estate crashes regularly lol. 2008-2011 recession was the definition of buy the dip, once in a lifetime opportunity. boomers bought in and became landlords because boomers understand economics, their ability to send an email or create a new folder, nonwithstanding.

- people bitch how its all too expensive and cant afford it.
- people are full of shit.
The rise of housing proces proves it.

People, being bitches full of shit, will come up with 10 excuses why the rise of prices doesnt mean theyre full of shit
All while they're in the process of buying a house. The one which is too expensive and they cant afford it.

You people must be legit retarded if you don’t get why prices are going up.

Answer: People fuck like rabbits, population goes up, kids grown up and need somewhere to live and there are only a limited amount of houses available.

>>22908654
What's going to happen when 30% of the country can't pay their mortgages after all the stimulus falls off?

>>22906117
Read a fucking book you nigger

>>22909241
Population growth has been slowing down.

>>22909237
Look up housing prices for past decades and adjust for inflation.

>>22903832
Central banking.

Fiat is losing value and at the same time there are a plethora of market-retardant regulations supporting the housing "market".

When it does crash, it will crash really fucking hard.

As long as there are central banks, the crash will be delayed.

>>22905293
I moved back to my parents farm in regional Vic. Worth it.

Big luxurious old property, no metropolitan faggots pozzed with French philosophy by the globo-homo Jewish pedophile aristocracy, fresh air, no rent, etc.

I live half the year overseas anyway so it was already a bit retardo that I was renting a house in Melbourne. I don't even party anymore.

>>22903832
People get greedy when they sell and you cant blame them. Who doesnt want an extra $40k in pocket money when the banks are lending out to goy simps willy nilly.

>>22903832
>housing prices increase 10% every year

thats just inflation anon.