/biz/ - Business & Finance

>>29355530
They might actually hyperinflate lmao

>>29355530
Not with modern immigration levels, no.

>>29355530
there's no housing shortage if you move out of socialist hellholes

>>29355587
I want to fucking die

>>29355530
Don't you enjoy housing prices increasing by 10% every year?

There is nothing to correct into. You can get a house with a 3% down payment at 3% apr right now as long as you have gap insurance. Housing has been in U.S. history been so accessible.

>>29355759
>live in small Midwest city
>still $200k for a moldy piece of shit that some boomer hasn't updated in 30 years
>linoleum fucking everywhere

>>29355877
Objectively wrong.

Source: https://www.longtermtrends.net/home-price-median-annual-income-ratio/

>>29355912
i didn't say they were good houses. anyway you buy that shit house then renovate for 10k and flip it for 350k

>Banks release 60 year mortgage options
>Everyone's mortgage payments go down dramatically
>Prices of houses double
>Only option is to literally remain in debt to banks for ever
Could this happen?

This IS the correction. Humans were allowed - even ENCOURAGED - to have their own homes, their own land, and their own families for thousands of years. Was that not enough?

>>29355530
>Governments splashing free money everywhere
Signs point to no.

>tfw 0% down, no mortgage insurace, VA loan at 2.25% (((interest)))
I guess that's pretty good for me. The problem is houses are like 50% overpriced and getting literally bought by chinks sight-unseen within like 2 days of listing in my area anyway so it's impossible to find housing.

>>29355530
yea when rates go up

>>29356236
who cares? they can't kill you
pack a bag and flee to malaysia anytime you want nigga. become an amish

>>29356428
>Who cares
The price of every house in the US just doubled.
>Move to Malaysia
Banks are pretty universal at this point desu

>>29355530
Dunno about the US, but in Canada real estate is the biggest contributor to our GDP post-covid. It's too big to fail, our fed money printer will never let it happen because it would kill the banks and bankrupt anyone with outstanding mortgages.
I suspect the case is probably similar in the US although likely less extreme with quite a few red states having few or no covid restrictions.

>>29356869
Yeah it's getting stupid. Average homes 2 hours commute from Toronto are going for $1 mil+

Since a lot of people aren’t paying rent right now I figured land lords would be selling and fleeing houses, but number go up

>>29355530
foreclosure unfreeze and rates correcting back up will help keep demand a bit more in check over the next couple years.
but after that im pretty sure it's gonna fly way the fuck up, between hyperinflation and biden's everyone gets a mortgage plan (lol 2008), the bubble will be insane.
my plan is to buy a fixer upper either later this year or next and fix it up and hold the fuck on tight

>>29357064
>foreclosure unfreeze and rates correcting back up will help keep demand a bit more in check over the next couple years.
i'm thinking of selling before the moratorium ends and inventory goes up making prices drop. it's in june but could be later if biden extends it

qrd on getting a builders loan right around now? They’re not going to let the bottom fall out of the housing market, most of us are priced out of buying in already and it’s only getting worse. Can we leverage the low interest rates to build right now?

>Multi-level with segregated areas; main level with upstairs, basement apartment suite, garage apartment suite
>As soon as construction is finished you rent out or AirBnB the main house and basement apartment while moving yourself into the garage apartment
>Live there 2 years to avoid capital gains tax, use rent + Airbnb money to repay builders loan, cost of land, property taxes, upkeep
>Your own rent is now subsidized
>Sell entire property at 2 year mark, cash in on the newest inflated home prices

Thoughts?

>>29356236
Europoors have 50, and sometimes even 100yr loans. I think theres even interest only for life "loans"

>>29356869
Canada is one of the few countries in the world where there are no barriers to buying land as a foreigner. There are entire real estate agents who dont speak a lick of english whose entire career has been based around selling homes to Chinese nationals. That combined with a very high immigration rate means basic supply/demand is all fucked up.

>>29357239
Wow they are truly cucked. I should buy a house before the states get this out of hand. How do eurocucks afford rent? Doesn’t even seem profitable to own a house unless rent is unbelievable there

>>29357156
i would demand is ridiculous right now, i just gave up shopping until the unfreeze. open houses with lines down the block and people getting into bidding wars over $400k townhomes that were $200k a couple years ago. problem is there's probably millions of people thinking the exact same thing so who knows the demand might just increase with the supply. june is the 2nd biden extended date already but i honestly wouldn't be surprised at a 3rd extension

>>29357188
If you've never built a house before, or at the very least contracted work on a house you are going to get burned and end up with a money pit. IF you can keep building & maintenance costs down then you are in good shape.
Although, finding empty affordable land to build a house might be tough. You don't want to rent to niggers after all

>>29357188
Sounds cool if you can swing it. I live in coastal Cuckifornia and would love this option but the permitting and admin costs make it just as expensive to build as buying an already-built home.

>>29357064
Thanks for the tip anon

>>29356088
Is this the housing golden bull run?

>>29357324
Chinks are a big part of the problem but it's not just them, the market is also fucked up outside of the chink province.

>>29355530
Just buy an empty lot and build your own house. You obviously can't do this in a giant city but you shouldn't be living in a major city if you care about finances.

>>29355530
You can't just build more housing when the infrastructure can't handle it.

>>29357064
>>29357156
>>29357370
psh, I will be surprised if the the moratorium ever ends during this administration. I predict they will keep it going, whether through endless extensions or just codifying some shit about it into law, because they are afraid of looking bad by kidney-punching the economy through unleashing a national wave of foreclosures (y'know, more than they already did with the hoaxvirus shutdowns...)
They painted us all into a corner where the only solution that doesn't cause pain and suffering to tons of people near-term is to just endlessly print funny money and shit, ensuring pain and suffering for all people later.

>>29355530
No way. The next big recession and housing bubble burst the banks are just gonna hold on to all the property.

>>29357770
This, anyone who stops the foreclosure & eviction ban is going to end their career and most like be blamed for a lot of issues. This will already be extended to the fall of 2021.
After Biden's hot mess of policies come into play I figure the unemployment numbers will be higher than during peak pandemic. With pandemic and really messed up job market many dont want to change the home situation if they already have a house they can put into forbearance.

>>29357983
How much Yuan should I buy?

>>29355759
Yeah fuck those places, I want to move to a libertarian dream city called Libertyville and privatize everything. We can have electricity run by ercot and a water system run by Veolia. There won't be any roads, public transportation, police, fire departments or any of that other socialist horseshit.

>>29358096
I wouldnt worry about Yuan winning anytime soon. Australia, India and Japan all are basically giving the finger to Biden and his policies. They are all increasing military and working together. Biden is also is losing just about all the support possible in Europe in just the first month. It is going to be an absolute shit show of a year for him.

I feel awful for people priced out of homes right now. It's like Bitcoin if you had to buy an entire coin. Left in the dust.

>>29357368
parrents bought a house around 2000 and paid it of around 2015
t. german

>>29355530
The price controls lady would actually be thrown out the window. Can't have the best solution actually be put into effect, because that's what the ebil nazis did. Literally just set limits on housing costs per the average income of an area, it shouldn't be allowed to exceed 1/3rd of said income for a reasonable amount of square footage for a small family. But do we give a shit about the small family? The worker? No, we give more of a shit about jew/joomer "investors." Investment in housing should be illegal if not much more strictly regulated. You should enjoy a massive tax increase for owning properties that you do not live in. Let's be honest, if your "making it" includes fucking over the economy for the working class, fuck you.

>>29355759
Shit tons of houses for sale in Cali, none for sale in AZ and CO. It's the opposite my dude. BLM/antifa/JoeFraudin pushed out the last remnant of reasonable working class whites. They pumped the small towns to the point there's simply no houses left. Pic related from my town, looks like old Joe's vote count ffs. That's 100k overpriced and they're still going up, it's not feasible. No job in this shithole town even pays enough to keep up with the rise.

>>29359515
>Let's be honest, if your "making it" includes fucking over the economy for the working class, fuck you.
Bingo.

>>29359656
Oy vey!!!

>>29359637
It's all remote work now, they're 100 miles from the office and it doesn't matter anymore. Nobody needs to live near san fagcisco to work in silicon valley anymore

>>29360009
Nigger not everyone in California is working for Silicon Valley! Those also aren't the ones who are leaving, it's blue and even white collar working class, not the techie retards who live in fortified mansion enclaves.

>>29355530
>"housing shortage"

This is code for "the state has to pay for more gibs".

>>29355912
this, been renovating for a month

>>29359515
price controls just mean no incentive to build, buy, or maintain property. it's good for about 2 years for all the welfare renters until they realize no one is maintaining the homes anymore and then infrastructure just falls apart because the rich whites leave lol. but you'll find this out soon enough, democrat.

>>29359515
Price control only works if you leave in a town with a small number of habitants, where only a minority is below the middle class and need cheap housing. In reality countries with big populations only make things worse, mostly because they're controlling the price and the amount being built.

>>29355912
you can buy a small house and 4 acres of land in rural ms for like 25k

>>29360781
>Duude just buy a trailer in the middle of nowhere with no water or electricity or phone coverage or jobs whats the problem haha