/biz/ - Business & Finance

>>29437568
never

>>29437568
>maryvale houses cost 300k
what the fuck is happening anon

I got a house east of glendale last year around 260k for 2000 sq ft. Two blocks from me some dude just paid 270k for 1000 sq ft. Good luck fren. It's getting worse out there

>>29437568
>homes are sold within a day or two
same here in CA fucking gooks

>live in austin
>prices are gay
>californians are gay
>homeless are gay
>freeze to death

>>29437568
probably when inflation stops being 15-20%

>>29437568
The nonwealthy are forever being priced out right now. Thanks Biden + Great Reset

class consciousness soon.
land hoarders will get the rope.

>>29438702
no such thing is class
only caste

Wife dragged me kicking and screaming to buy a house in 2014. It's increased in value like 65% since. Only financially smart thing I've ever been a part of. At this rate I could just refinance every year and live the neet life.

>>29437568
Is this the twink-succubus doujin?

It's like this in northern VA too
>house prices increased 20%+ just in the past 4 months
>literally 95%+ of sales (confirmable by looking at county property sales data) are to indians, arabs, and chinks
>most houses solid within 1-3 days of listing
>the chinks/indians who bought them paid $20-50K over-ask without ever physically seeing the house
>every week or two the new construction's prices get raised 4-5K arbitrarily
>80% of houses for sale / being built are unnecessary McMansions
It's pretty fucking bad. My wife's a gubmint worker, we have a VA loan, and a combined salary of $250K and we're still priced out of half the places and/or beat out by magic indians and chinks who are willing to buy every property for 50K more than its listed price within hours of it going on the market.

Phoenix is a booming city. I moved there from Tulsa and Ive never seen so much money. Never seen a Tesla before then. That being said I eventually moved back because of the cost of living. Id rather buy a trailer and pay it off in <10 years than be stuck paying off a Mcmansion for 30 years.

There are lots of lovely towns in northern AZ worth checking out if you have the ability to move.

>>29437568
>>home prices increase 15-20% every year
Really? Holy fuck.

>>29437568
I'm so happy I bought my first home last year lmao

It will never end. My neighbour sold his 3 bed, average house for 1.3. Listed for 800.

t. North of toronto fag

>>29437568
Full image please desu

>>29437568
This is happening all over the country. It’s totally fucked. Even worse than the peak in 2007. Either a crash is coming or we will soon be priced out of ever owning a home.

>>29437568
Time for more immigration!

>>29438900
I saw an entire neighborhood that was 50k in early 2010s now at 250k+. its bad

>>29437568
when your pos government stops fucking with the financial system.

>>29438811
yeah until the bubble pops you fucking retard.
If you have an adjustable I'm going to laugh at you.

>>29438945
For real. Anyone who was lucky enough to buy last year, or basically literally at any point between 2012 and 2020, basically won the lottery as far as being able to afford a house.

>>29439322
Also thanks to the coof tanking interest rates I was able to refi at 2% from 4% kek

>>29438860
It's a cute wholesome succubus anon.

>>29439596
Yep, that's what my boomer dad just did. He was able to buy for like fucking $400K less than what we'll be forced to pay for literally the same square footage in literally the same area like 8 years ago, AND now he gets to refinance at like 2% while we're stuck getting sniped by chinks and fucking indians on literally every house we even so much as look a listing for.
AND the fucking rates JUST went up like over the weekend and we can't even get 2.25% anymore cause it's up to 3% and rising.

>>29438999
>grew up poor
>drug addict from late teens to mid 20s
>zero savings and racked up debt
>28 now, clean, debt free and ~£5k net worth
>finishing master's degree with £32k/yr job lined up next year
>realised lately i will NEVER own a house unless there is a miraculous crash

the "you will own nothing" meme is real for some of us. i am probably going to relapse like the cuck i am. i pray everyday that the love and light of christ will give me strength

Phoenix realtor/investor here

The current clusterfuck is really a compounding of many different problems. To start, the Phoenix real estate market is seeing around 300 people move in net per day. As of today, there are around 2990 residential properties listed for sale on the MLS total. To put this in perspective, we ought to have around 18,000 in inventory to have a "balanced" market where neither seller nor buyer has the advantage. As it stands now, we are currently experiencing the most intense seller's market in history.

Secondly, consider basic economics. Demand is going up. Supply is down, and will remain low for the foreseeable future. New builds are more expensive due to logistical problems with materials such as lumber or copper. Labor is in short supply due to Covid, and construction crews are moving slower than normal. This drives up the price of new builds.

Then we get into the problem of buyer competition. It really isnt unheard of for people to have to compete with 20 others for 1 house. I recall seeing a residential starter home in Gilbert receive 16 offers the first day it was listed. This means that sellers can really pick whatever offer suits them best. No negotiating. As a result, if you need financing, you're going to get beaten out buy the all cash offer waiving contingencies and shortening the time to close.

>>29437568
> Step 1) Gas the jews
> Step 2) Gas the chinks

Problem solved

>>29440957

Cont.

Then you have to consider the current issues with our economy. People really want to hedge against inflation from all the money printing, and investors are coming from around the country to get a piece of Phoenix. With current interest rates as low as they are, this increases demand by encouraging more people to get into the market for a home. Investors are buying with cash and then just planning on refinancing and pulling out the money while maintaining low rates. This is a rare opportunity and a good investor isn't letting it go to waste.

Lastly, Covid and the lockdowns have made people think twice about their living condiitons. People want to live in different places, they want more room, less room, a home office, a backyard, etc. Especially peple moving here from teh West coast. As people flee high cost of living areas with draconian lockdown regulations, they require a place to live here in Phoenix. Psychologically, the need to find a place to live when moving from out of state is greater than that of a local who already has a place to live in the Valley but wants to move. Also if you sell an expensive california home and leverage it with Arizona prices, you'll be happy with what you can get. This has created a really imbalanced market.

I'm keeping it simple because it gets a bit more in depth than that, but those are more or less the basic factors causing this madness. The information I use tells me that this trend will likely continue into 2022, possibly 2023, barring some sort of black swan/ economic disaster.

>>29438702
I'm pretty sure America is huge. Just buy some land in the middle of nowhere and build a hut. Probably will cost like 5 bucks.

>>29437568
Can somebody for the love of god make some normie friendly easy to digest charts/memes with our laws in regards to non citizens buying real estate vs other countries?
Inb4, das racist
The general public are pretty much all in agreement that housing costs are not reasonable for the average person anymore, and unfortunately are dumb but if spoonfed the reason why could help
The chinked and ME foreign investors and management companies buying up all our real estate are an even bigger problem than boomers hoarding real estate that are on their death beds anyway
Seriously, there's no excuses for this, it's not like we're allowed to buy property in China and if you check the immigration laws on places like Dubai and Saudi Arabia you're not allowed to immigrate there even if you wanted to
Why the fuck are we expected to be every other country's dumpster for excess people?
Why are people and corporate entities that don't even live here allowed to buy our land or real estate at all?

>>29441403
I make 200k per year anon, would now be a good time to enter the real estate market or no? I’ve been sitting back because this shit makes no sense.

>>29437568
>When will shit like this end?
it won't as long as the money printing continues

>>29440330
Hmm. Time to reconsider your location anon.

>>29441549
I can rarely find an acre that doesn't cost atleast 5k

>>29440594
call me gay idgaf but praying for you

>>29437568
No joke. My house jumped up twenty thousand dollars in one week. I’m so happy I own it outright

>>29437568
Cheaper than CaliWali. That's why I bought a houserino there and downgraded to a condo.

>>29437568
Wtfhappenedin1971.com

>>29441936
Second. My man's the exact sort of person they're victimizing and preying upon with the globalist shit. "Your life is already a piece of shit with no prospects, anon. What's it matter if we control literally every aspect of your life in exchange for a commie bloc place to live and eat your free gruel?"

>>29441628
As with most financial decisions, the answer depends. If you're looking to buy a primary residence to live in, all the indicators and information I pay good money for say that these current trends will continue. So if you are sure that you'll want to own in the next few years, then now is better than later because if you wait you'll just pay more down the road. If you're looking to invest, the same also applies (assuming you're trying to invest in my market -Phoenix- or at least a market that is seeing net increase in population and other important stats.) You have 200k, that could be spread across a few down payments for real estate properties. You could finance them (assuming you have good credit/ job), find properties that need to be fixed up, and then add equity through improving value. That would be the best bang for your buck.

>To answer your question because I feel that I'm rambling, yes you should buy now, but take some time to do the research because I'm a realtor and of course I think now is a good time to buy.

>>29440957
Why would anyone want to live in s cultureless suburban sprawl based in a hellish desert?
That's like paying shitloads of money to live in Egypt or Libya.

>>29437568
Before you guys start blaming Jews, keep in mind this is really an issue with Californians

>>29438354
I’ve never seen housing so bad, there’s literally nothing out there. Stuff will sell within hours. I’m just glad I bought something 2 years afo

>>29442561
Funny thing about that is you can't even immigrate to Egypt if you don't have a decent amount of savings, are invited to work there specifically by the Egyptian government, or are married to an Egyptian/have Egyptian parents
BUT WAIT THERE'S MORE
Even with a residency permit, you still have to renew it every 3 to 5 years
Egypt has stronger immigration policies than the US and guess what?
That means they probably wouldn't take you even if you wanted to move there

>>29437568
i live in texas but do not understand wanting to live in phoenix

115 degrees being a regular temperature is a little much lmao

>>29442561
Arizona is a lot more than just 8 months of 115 degree heat anon. I can drive to mexico and be on the beach in 3 hours, and can be up in the mountains camping or skiing in the same amount of time. Relatively low cost of living, good "night life" (though that's not my cup of tea), among other issues. Plus we get a lot of snowbirds. I imagine after living in Northern Michigan for 6 decades, you might want to move to a place called the Valley of the Sun. I've lived here my whole life. I don't like how all the suburban subdivisions are all alike, but the heat really isn't that bad. You get used to it and eventually enjoy it.

>>29438870
>It's pretty fucking bad. My wife's a gubmint worker, we have a VA loan, and a combined salary of $250K and we're still priced out of half the places and/or beat out by magic indians and chinks who are willing to buy every property for 50K more than its listed price within hours of it going on the market.

Shit I should sell my place then. With telework, I've been meaning to move down to the Carolinas. I love me some bbq.

>>29440594
You got this anon, I believe in you

>>29442898
That doesn't surprise me at all actually, considering Mexico is the same way. Most countries represent a people and not just businesses; when Pax Americana is dead for good I hope i'm not alive for it, cause our citizenship will be worth less than an old pump and dump shitcoin.

>>29442997
I mean, if you have a house up there you could unironically list it as-is AND at a premium, and still get a 20K earnest offer within a week. Shit's that bad.

>>29443081
>our citizenship will be worth less than an old pump and dump shitcoin.
It already is

>>29442561
Weak commiefornians can't handle a season other than summer, and the third worlders that make up a majority of that state's "New Americans" all come from tropical or desert shitholes, so the idea of a fall chill or winter rain (to say nothing of snow and icy roads) scares their lemming brains and makes them react with visceral horror. It's always the southern 'murricans that react with shock and wonder upon meeting a Canadian, asking "How could you ever live THERE!?" even though I'm in a mild coastal area and it still gets as hot as Southern California in the summers sometimes. To them, anywhere it might conceivably get cold is a blasted hellscape of frostbite and desolation.

Warm environments make you weak and pathetic. Embrace Winter-chan.

>>29442875
you'll be rich soon friend (provided, yknow)

>>29441936
>>29442153
>>29443006
thanks frens, it means a lot. WAGMI

There's no way that all of these homebuyers will keep stable employment over the next 5-10 years. They may have a house now but they won't have enough equity to weather through hardship.

At minimum, employers are gonna fuck over homeowners when they tell them to return to the office because they're slacking too much.

>>29443519
Thoughts --> Feelings --> Actions

Positive Mental Attitude.

Never, Ever Give Up.

>>29441980
Why, you going to do anything?

>>29442561
>Why would anyone want to live in s cultureless suburban sprawl based in a hellish desert?

As a resident of AZ: The crime.

I don't live in Phoenix myself,I live in Casa Grande and occasionally visit to fuck a bitch or three and goddamn man let me tell you there's such a fucking huge and diverse crime scene going on in the Phoenix area(Except for maybe in Scottsdale which is a nice area) that I don't doubt it's majorly embarassing for the LE in the city. Drugs roam around like candy, chicks don't bat an eyelash about selling themselves for cash, entire fucking GROUPS of people hang out at gas stations, there's beggars, clearly mentally ill people just wandering around and tons upon tons of shitty housing developments and cases of theft that goes on with the people who live in it.

It's straight up just a degenerates fucking paradise. Shit look up the Phoenix Inn on Black Canyon Highway. The place is fucking ridiculous. It's a fucking 1:1 of those slummy broken down apartments you see in movies with creepy fuckers and hookers wandering around selling drugs and creeping staircases.

>>29438354
I swear man. Is Ft. Worth any better?

>>29443835
How do so many people hang outside without dying of dehydration? It seems like it would be lethal to be homeless or mentally ill in AZ.

>>29443835
Militias north of Phoenix talk of setting up road blocks and or taking out bridges to "keep them blm gang types out"

>>29437568
moving to the bay area
>End me now

>>29437568
unironically will not end until chinks are explicitly banned from owned property in the US, and any shell company that attempts to sell land to chinks will have the owners guillotined

>>29438811
if you put that money into bitcoin in 2014 you could have been worth 50 million anon.

>>29444491
This, until this stops and only until this stops we are fucked

>>29444040
Towels over their head,they drive or sit around in their car or they just come out at night.

>>29438870
Arlington chad reporting in

>>29437568
Just buy land and sit on it.

It's bloody painful and I hate it. I hate that I have to borrow hundreds of thousands of dollars that I will have to spend 30 years repaying, regardless of boomers saying I should be grateful because
>muh low interest rates
I would rather pay 10% interest and be able to have no debt in 7 years than 3% interest and be in debt for the rest of my damn life with the bank staring over my shoulder and me hoping and praying my work remains stable. I hate central bankers so damn much.

>>29443911
ft worth has more niggers, but it's cheaper. the state will just keep growing so there isnt much of a way to go wrong unless you go houston

>>29437568
I also live in Maricopa county. Do I fucking need to leave this state? Jesus Christ at this rate we're going to be annexed by California.

>>29440594

Accumulate a solid crypto on a week by week basis. Set aside a certain amount to spend on that per week and let it sit there. Thousands of poorfags did this with LINK a few years ago and are in 6 or 7 figure hell now. Godspeed anon.

>>29438126

stay mad poorfag

>gook

>>29446950
i've been DCAing into AVAX and RSR since december. the launch bug didn't shake me out; i believe in emin and the team

>>29437568
I'm coming to your city to buy a house in a week

>>29447136

Solid choices. Even if AVAX underperforms from now on you got some nice gains. RSR will explode if RSV gains a foothold in the target markets. Look into FLOW and BNT if you haven't already.