/biz/ - Business & Finance

Yeah, its the last thing that goes

Mostly because people are gona be forced into a situation where they have to have absolutely zero life

Already down from April. Good night.

>>49588285
Yes. Inflation and job loss are going to drive foreclosure. Retards who mortgaged Airbnbs are going to be fucked when the depression brings vacation travel to a stop.

>>49588467
Airbnbs are a big part of the reason why rents skyrocketed, fuck them cunts, that whole business model needs to fucking die

>>49588527
God, a crash early summer is a death blow.

>>49588285
I found a nice fixer upper in a great area, and when I went to the open house -the agent entertained me and made small talk.

They usually ignore and avoid me, so yeah market is tethering on the end/crash.

I am debating about putting in a low end offer, because why not - but I am intrigued.

House is going for 500k, fixer upper, average in the neighborhood is about 800k. I don't forsee many offers because it looks like a half flip.

I don't need a house, honestly debating a chicago condo over a PNW house - but I was wanting to do a airbnb thing w/ the house.

But having a chicago condo empty half the year makes sense, since I travel and live abroad half the time - the house seems like alot of work while a condo should be relatively secure and I want to be by a great airport.

PNW area was nice to me, cold, but nice. For reference you can buy a sweet 1BR condo in chicago for less than 100k, with HOA's around $300. 2 bedrooms around 150k, and you want two bedrooms because "they" sell quicker, akin to a house with a lawn and bullshit.

>>49588957
I'm planning on buying a condo in my area for around 80k. Maybe I can get it cheaper since it has been sitting on the market for around 2 months now.

>>49588285
That's half of Canada's economy kek.

>>49588437
source?

would love to see it actually crash

>>49588285
>Does this mean the real estate market is going to crash now?
I'm not normally a bear. I just sold off over 50% of my stocks. Everything is going to crash.

>>49588285
hopefully. I need a place to stay soon

>>49588285
LOL, said the Scorpion, LMAO

>>49588527
They definitely don't help but no that's not why rent went up. Big companies are buying up inventory over asking to rent and zoning laws make it hard to build to meet demand. Real estate isn't crashing this time, it's just gonna stop rapidly increasing back down to normal growth as supply catches up a bit.

> He bought a starter home as a last-ditch effort to escape generational poverty?
> Doomp Eet

>>49589814
Don’t have one. We won’t see this months closing figures until July/august. And even then there will still be a lag behind the reality of the real estate market.

>>49590465

People are going to normally buy with what money? Savings rate is the lowest it's been, consumer debt is spiking as inflation forces people to put essentials on credit, car loan defaults are record levels, and we are in a recession with no sign of recovery.

No one is buying now.

>>49588285
Yes
House cucks absolutely seething

Housing takes forever to crash like 6 years. Hope this time is different.

>>49590622
>last-ditch effort
Meds

>>49588527
If the economy crashes and people can't afford to vacation. AirBnB homes are worthless. God let there be a crash. Fuck those lazy boomers.

>>49588285
I have a stable recession proof job, fixed rate mortgage and I don't plan on ever moving. I don't give a fuck if the market crashes. I also bought at the "top" in 2018 lmao

>>49589914
>I just sold

"Pump it."

>>49590690
>seething
I've been in my mother in laws basement. Lower prices is very good

I wanted to buy a house without a HOA......

I offered in April in Indianapolis and closed a few weeks ago. If I had waited until now I would not have needed to bid over asking. Still not a loss because I'm in a better market and sold my other house for a 50% gain in 4 years. But yes, it has slowed down.

>>49591108
I wanted to buy a house in a crime free neighborhood that doesn't have a 55+ cap

As someone who remembers 2007, let me tell you what will happen:
>houses plateau in value
>interest rates start rising
>even though values are steady, total cost of a mortgage is still rocketing up
>this means there are fewer and fewer buyers
>speculators, flippers, and boomers think they're at the top and all put their houses on the market at the same time to try to get as much as they can (you are here)
>they start cutting prices just to get rid of it
>vicious cycle begins
>everyone else sees values declining and rushes to get out, escalating the price war
>mortgage companies start laying off workers (already happening) and then shutting down entirely
>overleveraged development companies and property investors get margin call'd
>eventually your average joe who bought during the run-up realizes he has negative equity on his house and lets it get foreclosed on
>prices drop like a rock

>>49591108
>It's 4pm, time to mow your lawn to precisely 3 inches.
>"Yes honey..."

I own a house and I want housing prices to crash because my house is not an investment and I don’t plan on ever selling it. I want my fellow white anons to be able to get a house.

>>49590992
t. neet

>>49588285
>>49588357
>>49588437
>>49588467
>>49589814
>>49590690
>NOOOOO my internet money is crashing that means the entire economy must crash!!!!!
Is it because you're afraid of looking dumb or that you're afraid of hurting alone?

>>49591226
Chad

AAAAAAAAAAAAAAAAAAAAAAAAAA

>>49591180
>>eventually your average joe who bought during the run-up realizes he has negative equity on his house and lets it get foreclosed on
This is if he can't pay his mortgage. Inflation will make his mortgage cheaper. So if he can keep his job he is good. Otherwise he is fucked.

>>49589814
It's going to depend on the area, but in Canada Ontario/Toronto area is crashing hard right now. Prices in some areas are lower than they were a year ago. That's only after a single 50bp increase. It's only going to get worse because we can assume another 150bp increase before the end of the year.

>>49591134
no one cares about real estate in indianapolis

>>49591180
>As someone who remembers 2007
you mean like the vast majority of people on earth?

>>49591279
The NASDAQ, a legitimate stock index full of companies that were supposed to be the growth engines of the future, is currently down by around 40%

>>49591226
Also once you own a house and plan on keeping it. It is nice to not have property taxes not going up too.

>>49591358
Nobody’s wages are keeping up with inflation

>>49591180
Jokes on them, I've been paying down my mortgage aggressively.
>Bought at 240k in 2016
>85k left on the mortgage today.

With the bogus bloat in home prices, the house is now "valued" at 375k (lol). The market could tumble by 75% and I'd still be above water. Can't get me!

>>49591226
Buy more houses and only sell/rent to free white men of good character.

>>49591358
No, that was the final element of the housing crash. People who could pay their mortgage still walked away from their houses because why pay a $400k mortgage on a house that is now worth $200k?

>>49591420
90% of this board is zoomers and late millennials who almost certainly weren't paying attention to the housing market in 2007.

>>49591358
see
>>49591542

cost of goods and services increases too.

>>49588957
>For reference you can buy a sweet 1BR condo in chicago for less than 100k
There is a reason why a condo in Chicago would be cheap anon. No one wants to live there and get shot

Sorry, you're not getting cheap houses, if the price crashes they aren't selling them to you.

>>49591108
HOA's in theory are not bad but every HOA I have been a part of always is run by power tripping boomers. EVERY ONE

>>49591542
A fix rate mortgage is not going anywhere. So if inflation is 10% and your income went up 5% guess what your mortgage is still the same. That is why renting sucks. Rent can just keep going up. I moved out of an apartment because they raised my rent by $300 a month to renew my lease.

>>49591180

it's not the same as 2008, because the owner of real estate now is private equity a la blackrock et co, not lower and middle class families that took NJNA ARMs. and as other anons have pointed out, inflation will outpace the interest rates of mortgages and on the off chance that home prices do start to crash, private equity will lobby the fed to step and pump liquidity to maintain asset value, as they have previously done and continue to do despite their threats of offloading their balance sheets and raising interest rates.

>>49591646
The HOA fee in a place like that will be more than the mortgage.

>>49591665
Correct, owners will just hodl.

>>49590465
Delusional. Those big companies won't just sit on a fat loss. They're going to sell off inventory to cover loans, then to keep floating when the market doesn't bounce back. Expect a slow slide back to 2019 prices over a couple years.

>>49591279
Other way around. Crypto is crashing because of the same reasons everything else is.

>>49591698
If I every bought a house in an HOA. I would get on the HOA board.

>>49591438
Yes? That's how It's supposed to work considering the world situation you fucking retard. If it wasn't down I'd be worried.

>>49591620
you're still not special and your analysis is shit.

>>49591802
>If I every bought a house in an HOA. I would get on the HOA board.
I am literally trying that on mine and its hard. The boomers on mine have been there forever and only have their positions because we can never get enough people to vote because most people don't care. We literally caught them red handed stealing from us and no one cares.

>>49591797
Nothing else is even close to dropping 20% in a single day retard

>>49591620
If inflation is high enough peoples homes will be worth something. To buy anything new would cost more with high interest rates.

>>49591420
>>49591811
You're an idiot

>>49591279
bro, have you actually looked at the SPX?

>>49588467
My warehouse just fired half of our supervisors & said none of their positions will be coming back
It's already starting

>>49591368
I have heard of absolute horrors of the Canada housing market. I feel for your guys I hope it crashes hard.

>>49591950
Yes? It's shitting all over crypto for the last years. It's also not the housing market retard.

>1/3 of new development are slurped up my wealth management companies as investments
>niggers in biz think they’ll panic sell when they have bulletproof balance sheets
you rentcucks are so cute I will enjoy your coming cope as prices continue to rise

>>49588527
Not just airbnb, the feds are paying people to house "refugee families" in their rental. An acquaintance of mind got offered $5k/mo to let a family of 8 Syrians live in his 4bed/2bath home. Normally it would rent for $2600

>cars still overpriced
honestly bobo needs to put in some OT. I will not settle until I see cars getting repo'd daily brawls in dollar stores over ice cream prices and boomers doing vegas shooting ragie moments outside banks cause their reverse mortgage got them evicted. Doom and gloom my ass this is boring.

>>49592191
The housing market is 100% in a downturn right now. The only question is how low will it go before it bottoms. With interest rates expected to go up significantly and job loses on the horizon, you can probably expect those prices to drop a lot more before they stabilize.

The only potential saving grace for the housing market is that new constructions are low and people don't "have" to sell at the now decreasing values. It's not looking good though.

>>49592300
They won't panic sell. They will look at the houses with a soulless accountant's gaze and think, "These are underperforming and can be liquidated to cover losses in M&A" and dump them all overnight.

>>49592300
>they have bulletproof balance sheets
They don't
Many of them are crowed funded with raiser thin margins.

>>49588285
kek i was going to make this exact thread

>>49592476
el oh el upvoted!

>be me
>buy house fall 2020 for 275k
>2.25% fixed
>recession proof job(cant just close the only level 1 trauma hospital in a major metropolitan area lmao)
>100% comfy

Couldn't give a shit if housing crashes lmao

>>49592514
I'm jelly of you. I work IT for a college. Somewhat recession proof.

>>49592428
downturn =/= crash and people will be homeless like in 1929 you retard

>>49591180

who would have thought 50% DTI was unsustainable

>>49591180

Except all of that takes like 2-3 years to play out.

>>49590622
A home by itself has value if your goal isn't to flip it like piece of shit boomers do.

>>49592622
This is not 1929 retard

>>49592707
Isn't China pushing over 100% in some areas

>>49592428
Nobody knows if it's going to crash or not in till it actually happens. What we can say is that we are seeing a downturn right now, and everything on the horizon indicates that things will get much worse in the coming months. A single 50bp raise has already wiped out the gains from 2021-2022 in some areas. We expect a 150bp raise in the next few months.

>>49592768
That's my point. But all the seething cryptards wishes it was, just because they chose the wrong asset for the past few years.

>>49588285
Not until home equity loans (HELOC) and mortgages implode. Potential sellers can sit on their hands, there is no immediate mechanism to bring prices down to meet demand and mortgage availability at current rates until market-wide capitulation is set off by the involved debt.

>>49591982
>middle management being fired
Based
>>49588285
People living in their homes will probably be alright. Retards who took out a huge mortgage or are sitting on investment properties that are empty will get fucked, especially because selling a home takes much longer than stocks/gold/crypto so they will need to take whatever pittance offer is made.

>>49589914
>selling the dip
Cringe
>selling the full moon
Based
>>49590694
This is the other thing. You'll have retards claiming it'a different because housing will take a couple years to bottom and then a couple more for appraisals, tax assesments, etc.
>>49592514
Not everyone who is sitting on cash wants people homes to devalue arbitrarily. If you plan to stay put, got a good deal, and locked ib low ibterest then good for you. I was traveling intrnational for work so I was saving and just want to see things dip so I can settle down for at least a few years.
This highlights one side of the problem with /biz/: people make it personal. I dont want people with homes to be poor, but it's also foolish to ignore the coming recession.

>>49588285
No, too many institutions like Blackrock are bullish in it as a hedge against the recession to allow it to crash. No you'll sit there like a good goyim and watch as everything that could have helped you leverage wealth so you could live at least at the standard your parents had will crumble while housing continues to sky rocket.

>>49591180
Based

>>49588285
Investor bag holders will have nowhere to dump without cheap debt.
No more cheap debt means a lot of dumb money companies implode and put a lot of people out of work which causes foreclosures.
Fuck yeah

>>49591698
I WILL NEVER BUY INTO A HOA

Fucking bastards, so god damn un-American. I will paint my house however the fuck I want, put whatever the fuck I want in the front lawn and driveway, add on any fucking room I want, keep my lawn however the fuck I want, and I dont give a fuck what anyone else does with their house. Joe Biden should ban HOAs

>>49588285
Depends. How tied up is the real estate market to crypto?

>>49592730
I don't hate flippers. A good flipper will do 75% of the work himself to save money on labor. The last 25% is done by professor electricians plumpers when needed.

This issue is when a company trying to flip homes. 100% of the labor has to be hired out. Now the cost of flipping the home is ~30% to ~40% more. Or the company only paints and replaces the carpet. Ignoring everything else.

>>49591279
>the entire stock market is just "internet money"

>>49593127
Kinda... But dividends are nice

>>49593127
see >>49591892 >>49591811

>>49592392
Imagine the smell after they move out. You have to gut everything

Real Estate is the most stable market. It will never crash

>>49588527
They'll just turn them into rentals. In 2008 rent actually went up pretty significantly.

>>49592070
Be leaf. I got married at the end of 2019. Wife mid way through a PHD, me self employed. Continuously outbid on 350-450k properties, covid hits, my work slows down, decide to hold out a little. Tfw those same houses are now ~750k in just two years. Tfw parcels of land were 25k and now 200k over night. Its fucking horrid. Still renting, but saved more for when it inevitably does come down. Realistically I dont think we will be back at pre covid levels. In other news, my sister bought five or six years ago for 500k and sold the top for 1.7million. Shes renting while prices adjust. Just absolute shit show. Other facts

>30k + vacant homes in Vancouver alone
>average homeowner has 7+ properties
>volume of vacant homes in Ontario unknown but easy to spot them and they are everywhere
>5% of my neighborhood is for sale right now, weeks passing without sales

There's enough demand for housing to prevent a collapse. It won't be a red hot no-inspections-as-is market but its still not going to be affordable for most people anymore. There are more and more home buyers and less housing than ever is being built. Not an inflation problem, just a supply one. Immigrants + people growing up = new demand.

>>49591180
Good take on things

>>49593055
I have no problem with HOA as long as it help increase my property value and covers majority of maintenance.

>>49591420
I was 7 during that time anon

>>49593627
Kike

>>49593583
I agree with this for the most part. I think in desireable areas prices will stay pretty level, however in the boonies (at least in ontario) where houses doubled due to investment fomo, its going to collapse hard. No way tear downs two hours from toronto are worth 600k (250k pre covid).

>>49593627
You should be arrested.

>>49593583
>just a supply one. Immigrants + people growing up = new demand.

I agree but it isn't even these factor which ensure there will not be a collapse. It is speculators and investors with empty pockets who will not be happy until the housing stock of entire countries is in corporate hands.

>>49593663
Are you "the vast majority of people on earth", retard?

>>49591728
>he thinks large equity firms are hodlers
>he thinks blackrock will hold real estate for 3% a year instead of 10Y T-bills for 3.5% a year
>their shareholders aren't already on the phone with them right now telling them to dump their properties

>>49593784
Median age of a person on Earth is like 30, so yes.

>>49593419
I can imagine the listing
>home with character
>great investment opportunity
>needs some elbow grease
>a home for a family

>>49588285
The best reference we have for how this recession will shake out is the Volcker inflation recession of the late 70s/early 80s. If we hit 10% unemployment like that recession, yeah people will lose their homes when they can’t make their mortgage payments, and the real estate market will crash. Not as bad as 2008, but it won’t be great

If unemployment doesn’t go that high, I’d expect a minor correction. There’s no incentive for people to give up the low rate mortgages that they’ve locked into the past 12 years unless they lose their jobs and can’t make their payments

>>49593583
yup. anons need to listen to this guy and me right now. I grew up in rural texas on a peanut farm and it changed out here. I was in dallas for 10 years but came back last summer to buy 6 acres and a farmhouse. 195k.

entire area is still country but It changed and it's changing fast. lots of west coasters out here now. little supply and lots of demand. buying habits changed and people want the rural areas now. lots of people around here chopping up their land into 10 acre lots and selling for min 10k an acre. it's only going up in texas and certain desirable states. git em while you can. I got lucky. and yes I do thank God. someone is watching over me.

>>49588285
Yes

>>49593819
and being ~22 you are well outside that.
Thanks for confirming that you're retarded.

>>49593561
Those are crazy stats... God speed to the housing crash for you Canucks.

>>49588285
Money printer is slowing down. Everything is going to crash.

>>49593841

Right, 08 was a subprime lending crisis, not just a normal housing recession. People who simply couldn't afford the mortgages they were getting approved for, and had to sell or foreclose. Nobody uses ARMs anymore either. If housing slumps it will take longer and resemble the prior rising rates recessions.

>>49591180
so shit then dips 15% and recovers 2 years later? wow

Yes but it could take 2 years to find the bottom.

ALSO: People buy houses based on the monthly payment. Rates went from 4% pre-pandemic to 2.5% at the depths, and I think a lot of the reason for the housing value increase was people rolling what they saved from lower interest rates into the purchase price of the house. With rates now at 5.5% and rising, this is no longer a factor.

>>49593583
Says this while we’re at most homes under construction of ALL TIME

>>49594210
15% on a something that cost hundreds of thousands of dollars. That is a lot of money.

>>49592191
The housing market is literally crashing right now.

>>49592514
You got in before the insanity. It's unlikely that you'll end up underwater. So yeah, comfy. Congrats anon.

>>49594384
>literally crashing right now
amazing how nobody noticed except seething people on an anime forum.

>>49593583
You are right, but making a faulty assumption. There are a surplus of home buyers and a lack of supply. The problem is however, can those buyers obtain a mortgage for a 400k+ home? The reality is that most buyers are simply priced out of the market at the current prices.

At current prices, the average person cannot even get a loan for most houses. That's without accounting for interest rates (which hurt first time home buyers the most) and increasing cost of living.

>>49594319
Sorry I'm a Canadafag and talking about cities here, where basically every high density project is immediately shot down and there's nothing but red tape and municipal palm-greasing for basically every type of construction even where there is an obscene amount of space.

>>49591698
>HOA's in theory are not bad but every HOA I have been a part of always is run by power tripping boomers.

The development company in charge of the HOA didnt have it complete yet so when they finally got it legal i was exempt from their bullshit since i bought before they finished but i get to reap the benefits Every quarter more and more rules are added. When the HOA formed the only rules were
>keep lawn maintained
>keep house exterior clean (no mold/alge growth)
>no parking on the street (i agree with this one as congestion always becomes an issue later on once the development turns into a renter's haven)
today
>visible blinds must be of the 2 inch variety and must be white
>all fencing cant be higher than 4ft and must be white PVC
>all mailboxes must be purchased through the HOA
>no parking in your driveway
>mow lines must be parallel to the street
>porch lights must be kept on between dusk/dawn
>bushes against house must be trimmed to 6inchs beneath any windows.
the list goes on. They tried taking me to court several times and failed. They've towed my trucks several times out of my driveway and had to pay out massive court costs as it was ruled theft each time. I cut my grass in the most asinine way now. And they've even blocked entrance to my house. Its to the point where i dont have to work because the half dozen or so civil suits i engage with them each year nets me the worth of my house.
sadly, not everyone gets to be in such a position.

>>49588285
Your neighbor is going to try and eat you soon.

>>49594520
>The reality is that most buyers are simply priced out of the market at the current prices.
I guess it depends on which markets we are talking about but current owners (HELOC squad) and big companies and foreign investors have no problem buying up properties. When supply is limited and you have non-family buyers in the game it doesn't matter if families can afford it. The dynamics change
>blackrock can afford it
>PMGs can afford it
>existing owners can afford it (heloc)
>multi-family buyers can afford it (immigrants where multiple families live in a single family residence)
>foreign investors can afford it (canadian real estate is just a china money parking station)

>>49594544
Keep it up Anon. Just don't be a complete jerk with letting your house/yard look like complete shit.

The great thing about a house is I can always rent out a couple rooms to a few cuties and coast through the recession.

>>49594544
Thats pretty funny. HOAs are not common in leafland. I pulled all my grass out and out clover, leave my company van on the driveway, have kale and other veggies growing between my veggies, do my brakes, oil etc on my driveway. Fuck HOAs. I'm also the neighborhood guy you ask for help or tools and give my neighbors tomatoes all season so... No bad blood.

>>49594727
Living the dream. Getting payed to keep some bussy in your home.

>>49589767
85% of GDP growth is real estate
I make 100k a year and was pre-approved for 250k mortgage even though I have good credit and no debt
I can't even buy a vacant lot to build on for 250k
Being a leaf is more depressing than being black

>>49594760
Yea, but Trudeau just took all your guns.

So basically tldr currently is "do not buy rn if you can avoid it?"

Im a rentoid

>>49595055
At this point wait another couple years.

Fed gonna blow up interest rates even more.

>>49594659
>Blackrock
>PMG
>Heloc
>Foreign investors
These groups are all looking to make money. What do you think they are going to do if the housing market starts turning red? The only option they have is either sell it, rent it or hold and pray this is a small drop. Renting may not be profitable if those properties are not in good locations or if a recession happens.

I believe most investor class will leave the buyer market if things go red. Which is what seems to happening, at least in Canada. The fun times are over and the investors are running away with their profits from the low interest rates. Leaving the buyers of the last 2 years holding the bags.

>>49593812
Blackrock is never selling, it's about monopolizing the rental market, and restricting home ownership to the upper class.

>>49593583
>not going to be affordable for most people anymore.
>There are more and more home buyers
Pick one. "More people want them" does not automatically translate into "support at current prices". If most people want them but literally can't buy them, prices will drop until they can - and there won't be equilibrium/price support until they do.

Is an engineering position at a defense contractor recession-proof?

>>49595207
>most people want them but literally can't buy them, prices will drop until they can

Blackrock says hi

>>49595110
Im not in a hurry anyhwere
Just gonna save some money somehow and see what happens

Its not like i talk to women so i need a big house to impress them
I could use a comfy flat however

>>49595246
Blackrock buying up homes was a psy-op to convince normies that buying a home was "full-proof" during the biggest peak of all time, right before inflation and interest rates crash the system.

>>49588285
Lmao no. Prices wont shift to dramatically. Maybe theyll drop 10k at the most. They will never let you live.

>>49588527
Lol no. There aren't that many Airbnbs.

>>49595132
These investments are for long term gain. If they hoarde all the properties and slurp up supply why would prices fall appreciably? Why would it 'start turning red'? These are long term investment plays, rents will not drop just because the principle on a house drops with higher interest rates. Mortgage will go up in tandem.

>Leaving the buyers of the last 2 years holding the bags
Yeah 'retail' buyers, single families etc. I don't think a significant number of these people will default because we have stress tests @5%, so near term horizon I see no real change for people on the sidelines (I am on the sidelines waiting to buy in but I've given up hope and will probably make a serious attempt to just leave Canada and find work in the US ASAP)

>>49591892
You sure about that?

>>49595269
I also don't mind waiting, my only gripe is not being able to plant trees on my land, which is a life goal that takes time

>>49588285
I hope. Shits too expensive.

>>49595327

It won't crash anon. Housing market to the moon.

>>49593711
>>49593738
Sorry, but I want some quality control so my property doesn't go down in value.

>>49595376
>These investments are for long term gain.
I would agree with you if they stopped buying homes during 2021 and 2022. But they did not. If anything they turned things up.

>gas goes to $10 a gallon
>suddenly that mcmansion in the suburbs doesn't seem so good

>>49595246
The games the bankers are playing are crashing the economy as a whole and threatening to take their house of cards down with it faster than any monopoly plan is coming to fruition. The endgame you fear is literally impossible.

>>49595611
>have mcmansion in the suburbs
>can afford tesla

>>49595407
>38 days
>a single specific house
this is beyond desperate, it's just sad.

>>49595611
Long in horses.

>>49592392
This is a fairly common story. One of my friends’ moms flips houses in flyover country and was bragging about making so much money “diversifying” rural Kansas with afghan refugees.

>>49588285
It's been crashing for a while, just takes longer for people to notice. I was on a few realestate websites and there were a lot of homes that have been up for months and have had their priced reduced several times.

>>49588285
housing takes years to "crash". people dont just press the sell button like for stocks and bitcorn. sometimes it may even takes months for a home owner to finally decide to sell, and then many more months of procedures and headaches.m to follow trying to actually sell it. this is why housing is a "safer" investment, only because you got more time to get out

>>49591811
Why are young people so angry nowadays? Just no respect for anything, especially themselves.

>>49588285
Nigga it's been crashing since Feb

>>49591811
>Muh internet funny money
> Uh yeah actually... actually I'm glad the NASDAQ is down! That's a good thing!
Holy cope lmao

>>49596108
>Why are young people so angry nowadays
Everything is fucking shit, that's why.

t. not young

>>49595851
Bitch have you seen this fucking market???

I have a down payment on a new construction house but it won't be done for 3 months and I can't lock in the interest rate yet.
6.2% right now.
I can still afford the payment pretty easily even with these shit rates. Should I pull out? Kind of want to live in a house but it sucks that I could be getting a much better deal just a few months ago.

>>49592714
Yes it's already been one year

>>49596206
>4yrs
>290% increase

>>49588957
>But having a chicago condo
good luck w niggers and car jackings

>>49592392
They are a part of the problem

>>49593055
Based

>>49593419
This

>>49588285
PLEASE CRASH

>>49592392
>An acquaintance of mind got offered $5k/mo to let a family of 8 Syrians live in his 4bed/2bath home. Normally it would rent for $2600
where is this?

>>49594544
>>no parking in your driveway
lmao what the absolute fuck
plus when they tell you what you can or can't build is where it gets the most retarded

>>49591728
institutional investors own 0.2% of real estate. they're not exactly tipping the scales.

>>49596206
Yes, and I take it you're too young to realize how this happens and don't remember the other times.
Just because the foot is taken off the acceletrator doesn't mean it immediately stops and starts rolling back down the hill. It has momentum.

>>49597687
The issue is we have been on the gas for a while. The engine is running on fumes. There is a massive pot-hole called Russia Ukraine war. We won't crash this car...

Ban foreign investments of RESIDENTIAL real estate. American cities should not be gobbled up by China and Saudis. Canada already did it.

>>49591646
>>49591646
>>49591740
>>49596474

You're not wrong, but you can use justicemaps . org to find good areas. When I say "Chicago" I don't mean south, or west, I mean north, by the suburbs, where the red line/purple line go, along/near Lake Shore Drive overlooking the lake.

I don't want to own a car or go far there, I just want a cheap homebase, that costs sub $1000 a month, and can just fly in and rest, invite friends, fuck a few women, mayba bring an asian or two back from overseas and that's it - give the ole chicago tour and give them hope of being a citizen then chuck them back.

In Seattle, it's numbing the price, and, if the non citizen complains, they have more rights then a citizen like me.

In chicago, the black mammies will slap that asian hoe back pretty quickly - for some reason the black people in chicago/new york hate asians.

>>49598078
won't happen because cities governments love to see property prices skyrocket. They get to tax everyone more.

The real estate was always gonna be crashing down with the vast percentage increase climging it oftimes...

>>49596228
You can't lock in a rate till after a house is built?

>>49598803
Yep, needs to come from the federal government. Maybe they can do their job for once and help their citizens. Crazy to even type that out.

>>49595736
This was the first one I looked at when I filtered by "price reductions".
2 months ago, sellers were demanding zero contingencies with three month free rent back. Now the prices are dropping everywhere, picrel

>>49596228
50/50, it depends on *your* area. Is there plenty of new construction? IF so, make a fake email/get a burner phone and call up as a new customer and test the waters and see what's happening.

If it's a shit place, like a new suburb in Florida, I'd pull.

If it's an established area, I'd keep it.

https://www.youtube.com/watch?v=OcrKdWcxS8c

While this isn't what's happening *now* it goes to show how worthless land can be, and the initial fear of shelter leads people to do.

For me, I only want a place that's cheap, so if the market tanks, 20%, atleast I am still okay - the idiots with HELOC loans and underwater homes are going to have to cash out, because that's why they only let you do 80% LTV on a HELOC, so that if it drops 20%, the asset can be sold immediately and pay the bank back and kick out the "owner."

But the fees and such are $$$$ for sure.

>>49588285
1997 zoomer who doesn’t own a home, how do I capitalize off of this?

>>49588285
Usa real estate market very different from euro or japan, almost always mortgages are
taken fixed rate. In other parts of world people take mortgages with floating rates so rising rates impact quickly mortgage cost. This way usa real estate is safer people dont go underwater with their current mortgages only the amount of new mortgages goes down if rates raise, which is still a bit too early to tell if it's just a pump before dump to back to low rates

>>49599043
I hate santa monica and this part of LA, but, as a seattle and florida anon, same.

You go to FLorida, every other post has "RELISTED, FINACING FELL THROUGH" as if that's a lucky catch for you.

In Seattle, the prices are getting discounted, and open houses are def def reduced. Hell there's even a redditor bitching on the realestate about having ot accept a "40k" reduction because of the market.

usually it was 50-200k over price, 10-20 offers, having to send photos of your family/how desperation you were and to waive *all* contigencies.

It is now becoming a buyers market, so catch a falling knife now, OR WAIT.

A home is a neccesary, a home w/ extra rooms can produce income. You need to be able to afford and have 20% down. Any other way you are too poor to buy a house, and yes that is crued to say, but that's them facts

>>49594512
I think all the tards with their house up for 30 days with no offers, having to lower by 5% to get nibbles have noticed. I've been looking for a house since early spring and fuck buying the falling knife right now. At this point I'll wait for a poorly maintained foreclosure. We're in Q4 of 2007 and you dumb shits still think housing is somehow immune from a crash.

>>49591180
As someone who remembers 2007, let me tell you what will happen:
>houses plateau in value
>interest rates start rising
>even though values are steady, total cost of a mortgage is still rocketing up
>this means there are fewer and fewer buyers
>speculators, flippers, and boomers think they're at the top and all put their houses on the market at the same time to try to get as much as they can (you are here)
WE ARE HERE
>they start cutting prices just to get rid of it
>vicious cycle begins
>everyone else sees values declining and rushes to get out, escalating the price war
>mortgage companies start laying off workers (already happening) and then shutting down entirely
>overleveraged development companies and property investors get margin call'd
>eventually your average joe who bought during the run-up realizes he has negative equity on his house and lets it get foreclosed on
>prices drop like a rock

>>49599202
>RELISTED, FINACING FELL THROUGH
I've seen a ton of this lol. For the retards in the audience who can't read between the lines: Banks are refusing to finance at current prices because they know the home value would just blow through the down payment within a year, putting them at a huge risk.

>>49594319
Midwest is lookin pretty good

>>49591719
Good thing insurance, property tax, and maintenance costs are all fixed.

>>49595763
What are you going to do, stable it in the cubicle next to you?

>>49599286
Realtors are unironically telling people to bite the bullet and make one big price cut because multiple little ones reek of despiration. I kek.

>>49591279
spoken like someone who only checks on internet money lmfao
i know we all here to be lazy and not work but come on now at least check SOME trad and macro signals

>>49599148
Wait till we crash again in the 30s.

>>49595226
No

>>49594024
check IDs nigger

>>49599199
>This way usa real estate is safer people dont go underwater with their current mortgages only the amount of new mortgages goes down if rates raise, which is still a bit too early to tell if it's just a pump before dump to back to low rates
So basically instead of shared responsibility just screw over young people who haven't bought their first home yet by increasing rates only for them.
Nice.

>>49591608
>Buy more houses and only sell/rent to free white men of good character.
>free white men
Free man assumes the man owns property already.
Why would a free man rent unless he was actually a slave?

Anyone doing a Ted Shed if they never come down?

>>49588285
When people loose their jobs it will big.

>>49588957
>move to the failing state of Illinois
>move to the crime ridden city of Chicago
>buy a condo

Horrible plan

>>49599043
Doesn't matter if you can't afford multi-million dollar prices faggot

>>49588527
That's more local gov corruption than anything else, Airbnb has a whole team dedicated to bribing local officials to look the other way and refuse to enforce local zoning laws and hotel/rental regulations

>>49599746
>>clearly doesnt own land

mostly yes it does, insurance is based on home value, as are taxes, so those go down in a recession, but they dont move much anyway and cost very little in general
>> muh maintenance
its called a home warranty look it up

>>49592412
Car finance will be a preliminary bubble to burst.

There are people who get a new car every three years on loan paying half their salary because Muh status symbol

>when sellers cut the price by 5k on a 500k property after near 200k in equity

fuck boomers.

>>49603729
>watching the overleveraged boomers increase the listing price on their property

>>49593119
>paint
>new carpet
>band-aid fixes
That’s 99% of flippers bro

>>49603702
this is a valid point
My parents make poverty wages but are always telling me about the luxury car brand they want next.

>inflation
>gas price
>hig interest
>fear index off the charts

none of this shit really matters until people actually start losing their jobs

you can ride off all those things if you aren't geared to the tits, but most people will survive

we need actual job losses to see the needle move

>>49603920
the great resignation will blow up in a lot of peoples's faces

>>49592514
Similar position with job. But I have a purchase going through right now.

The boomer selling it is losing his mind because of all the checks and paperwork that he didn’t need in his day. Agent says he doesn’t recognise basic terms that have been used for the past 20 years. He’s angry that the sale has taken some time (even though we’re ahead of the average time).

Legit threatened to pull out and put the house back on the market because my lawyer was slow with one stage of legal documents.

Half inclined to watch him do so and get less for it and restart the whole long process again.

>>49588957
Unrealized gains makes flips a nightmare. But Chicago is too. Also interest rates make mortgage payments and vacancy margins block any cash on cash. Wait and hit the markets

What happens if banks start collapsing from sub-prime mortgages like 2008, but no one will touch MBS because they're kryptonite? If your mortgage company goes belly up and no one steps in to buy the loans, what happens?

A lot of buyers are simply priced out of the market.
My parents got divorced and my dad had to become a rentcuck. He is a tradie and has $70K cash in the bank and is looking everywhere for a house and it's all out of his range and has to stay in his shitty apartment. He just resigned and they increased his rent by $300 a month. He seethes every week I talk to him on the phone.

>>49604068
Thats insane if $70k cash can't get you anywhere

>>49604044
The government bails you out.

Also the banks aren’t as exposed and sub primes aren’t as big a thing as before. There’s a fair bit of regulation in place now and frequent financial stress tests done now.

>>49602352
Why do you think I'd be monitoring housing prices in Los Angeles if I weren't in the market to buy a house?

>>49599349
>he has a memory that goes back more than 2 weeks
Fucking freak. Next you'll tell me that nearly every politician in the US did a 180 on covid from Jan 2020 to april 2020, or that housing could never be speculative again due to "getting rid" of subprime mortgages, or that anyone calling gay marriage a slipper slope was laughed at when children were brought up, or that race relations in the US as well as mass shootings spiked around 2010, or that islamic terrorist attacks just happened to stop, or Kony 2012

HISTORY NEVSR REPEATS STOP PAYING ATTENTION. LINE ONLY GO UP

>>49604044
The bank's creditors are now your landord. You do understand banks just service mortgages, they're sold off to become investments, right? So if the bank goes under, that just means you send your mortgage check to someone else.

>>49604107

No it isn't. To them it's rational.
Consumer credit facility knows that if you have cash, you can spend cash or park it somewhere before they can sue you for non-payment and recover it.
W-2 wages or a salary is future cashflow. If you don't pay rent, they can garnish it without you ever touching it.
Larger rental companies want this because it simplifies the process.

Also, consumer credit facility flows downward from banks, and banks don't want you owning equity in things.
You owning things makes you pesky; you can sever you relationship with them at any time.
They want you borrowing money for the things you need and paying interest on it.
In the aggregate, they want people reliant on them.

>>49603702
I earn nearly $500K a year and I drive a Kia Soul and wear a Casio watch. Only poorfags and retards but luxury brands.

Imagine driving a Phaeton. Like, you can't afford one if you can't afford the driver that goes with it (I can't).

>>49593254
>>49591892
>If it doesn't crash 20% in a single day then there's nothing to worry about
4% in a single day and 20% in a couple months is a big deal you fucking no-stocks Zoomer

>>49604143
Can the government/fed really afford to do another massive bailout though? Wouldn't that trigger even higher inflation, potentially hyperinflation, which would make the situation worse?

>>49604360
So even if there are a substantial number of banks going under, along with a large percentage of loans leading to foreclosures, the creditors will just hang on to the properties and sell after the market corrects itself? If the bubble pops and prices drop 30-40%, wouldn't that be a massive loss to the creditors, or would it not be that big of a deal because the cash for the mortgage never really existed in the first place? I'm not very well read on banking and macroeconomics, if that isn't apparent already.

>>49588285
God I hope so. Cash gang needs somewhere to go.

>>49599349
This, I remember also how it happened in Florida.

But I don't know why I'm so adament to defy logic and buy some shit place, to say it's "mine."

FOMO is powerful,fuck (((YOU)) for being programed to consume.

>>49604514

It would trigger more inflation, but they don't care about inflation.
They have to pretend to care, because votes. But what you all are about to learn in the coming weeks is that Powell knows perfectly well that there is no way to stop continued inflation at the rates we've already seen.
He just has to make a show of acting like he can.
There is too much money piled up behind the dam. Nearly $1T in covid stimmy checks and PPP loans, and a whopping $2.8T in mostly MBS and also some corporate paper that the Fed outright bought to keep it from failing.

This money is not out there free in the broader economy. It has been floating back and forth between the Fed and banks via repo and reverse-repo markets over the last 18 months. These are overnight lending mechanisms that allow the Fed to free up liquidity for banks quickly and (on the reverse side) to allow the Fed to mop up extra cash that banks aren't "allowed" to hold on their books overnight.
The second is the more important of the two, and also the more insidious.

>>49604948

It's not apples to apples, because if a bank owns a house they have to maintain it and carry it (pay property taxes on it) until they can find someone to buy it.
In a recently-crashed market in which millions of people just got their asses handed to them, there are going to be fewer buyers.
Banks don't really like this. They prefer to just loan you money, charge you interest, and have you pay them on time. In the world of borrowing and lending money, stable predictable cashflows come at a huge premium.

>>49605193
So, in your opinion, what is the end game here? What is the broader reality for most middle class people moving forward?

>>49605476

Use of the phrase "end game" would imply someone is in control.
Who, if anyone, do you think that is?

>>49605476
Massive (coercive if necessary) wealth transfer from private individuals to the state. The government will do anything to preserve itself.

>>49605709

They can't do that through coercion. No one responsible for the ground-level work would comply.
Anyone who did would probably end up hanging from a lamp post.

And even if they did, they don't have the numbers.
It always surprises that no one understands the sheer numerical disadvantage government has against the population.

>>49605693
Western governments and the Fed seem to have the most to lose by the collapse of the fiat financial system. It seems to me that they're trying to distract people as much as possible with January 6th hearings and stirring up the gun control debate again. Wouldn't be surprised if another BLM summer starts in the next few weeks. Distractions won't last forever though, and if we dip into a deep recession or depression they would need concrete actions to respond with. Failing to do so is how regime changes/coups happen.

>>49605897
I think they could try, country to country is different. Especially in Europe or Australia, the more nanny and welfare orientated the country in question is the more likely a portion of the country will comply, case in point - vaccine mandates.

In the end it will come down to what the military and security services do. Do they stay loyal to the regime or will they split on ideological/ethnic/political lines?

It sounds like I am talking about a banana republic but I fear this is the future of the West.
Be prepared for some Romance of the Three Kingdoms type shit in the western world. Loyalty and brotherhood will be the highest asset when law and order breakdown and/or the government turns openly oppressive.

At minimum the government can absolutely enforce its writ in the metropolitan cities even if the surrounding country and states do not comply with Federal level orders.

It also may not happen directly through door-to-door seizures or outright violence (like in the USSR) but they could use the banking system to confiscate wealth above a certain threshold, you have already seen this in countries like Argentina. In Canada you have the government using the banking industry as a political tool to squash the truck protests.

The welfare state has a huge amount of levers to work on normies, reduce your state pension (if you were a federal employee), benefits, freeze assets in bank accounts, so forth.

>Nearly one in four homeowners say they will have to sell their home if interest rates go up further, according to a new debt survey from Manulife Bank of Canada.

>The survey, conducted between April 14 and April 20, also found that 18 per cent of homeowners polled are already at a stage where they can't afford their homes.

God I hope the Canadians get fucked.

https://www.cbc.ca/news/business/homeowners-interest-rate-survey-1.6487137

>>49606088

It's difficult to say who would hurt most from an actual, centralized fiat collapse, in which USD loses like 50 or 60% of its value within a few months.
The ultra-wealthy probably have a back-up plan. New Zealand for example sells citizenship, is mountainous, and is too far away to sail over to and cut someone's head off.
Politicians are for sure nervous because they're public figures with limited resources for fleeing and hiding.
Regular people would hurt. Bad. As I said, I don't think this inflation is going to stop any time. I think there is too much free cash floating around, sequestered from public use by the Fed and banks, mainly via Reverse Repo. Literally waiting behind the dam.
There is no way to keep banks and funds from deploying this cash if asset prices dump down low enough. They will start buying things eventually. And when that cash makes its way into the hands of regular people, prices of everything will continue to rise.

The upside is that true hyperinflation (in a big multiple) is pretty unlikely to happen.
The dollar isn't traded freely. We mandate that the rest of the world use it to trade in a lot of things, particularly oil. So foreign actors damaging it to the point of hyperinflation is actually pretty difficult; they can't just dump it onto the market without crippling themselves. A war would almost certainly result if they did.

>>49606329

Yeah that's fair. I'm American, so everything about is about America lol.
Over here there are 330 million normies and only 2.8 million military, police, and feds.
Literally this situation.

>>49593212
Dividends are not tax efficient though. Buybacks are much better.
That's why you put your REITs and other dividend-generating assets into 401k or HSA.

>>49592412
Someone maybe mentioned this, but a lot of cars are getting repo’d now

>>49607110
Without delving too far into a political discussion, I think a deep recession or depression would look far different than anything else we've seen in the modern era, at least here in the US. If regular people, particularly people on the right/far right, start losing their jobs en masse, if banks start forcing people from their homes, and if they can no longer afford to feed, house, or clothe their families, civil unrest will occur. Not just protests, but cops serving eviction notices getting ambushed, politicians being targeted, and banks being burned. I think the government, media, and the Fed vastly underestimate just how pissed off people are in this country. The worst possible scenario for trying to maintain some semblance of order is a significant drop in people's standard of living right now.

>>49588467
lending practices are strict since 2008 but keep praying

>>49588957
>chicago
>condo
lol no stick with pnw

>>49591134
>in Indianapolis
Yikes. Have fun with the unfixable pot holes and avoiding niggers at the red light on the east side. You should've stuck just outside the loop (Noblesville, Westville, Carmel, Zionsville) for maximum quality of living without paying dumb fucking prices

>>49607929

This. If you look at mortgage loan data, the vast majority of FICO scores are 650 and above.

>>49606333
>mfw the US actually learned it's lesson from 08 and the rest of the world didn't

>>49588357
based, cannot WAIT to slurp 'em up.
>sir, SIR!
>if you want to purchase this property you should contact the realtor
>sir, I'm going to have to ask you to refrain from licking my house
>stop it

You can't be a mumu and expect housing to crash out the same time. Housing falling is like when a cartoon character gets out of a pile of rumble and starts to say "well at leas-" and then a final piano hits him. That's the housing market.

If you think housing is gonna crash, you should basically be all in cash.

>>49591420
You forget it’s 2022, boomer?

>>49590698
what? Are you a non english retard or something?

>>49598078
plz this

>>49608479
>If you think housing is gonna crash, you should basically be all in cash.
I am... Everything is crashing, Fed is going to keep pushing the rates up because of inflation they created. It is funny that I would want dollars now... But I'll see if the FED can get inflation under control.

>>49598078
That would crash the market.

>>49592514
Similar situation

>>49607917

A big swing in living standards is the one thing I wonder most about.
Yes, in absolute terms people don't tend to take kindly at all to having to accept a shittier life.
But in relative terms, poor people are fat, so...

>>49591892
Even 4% in a single day for stocks is huge you financially illiterate faggot, companies start massively laying people off for less. You came here to taunt about crypto but you're cheering on your own demise too. Crypto didn't just dump because a bunch of bug boy brocolli perm twitch zoomers said it was a scam, it's dumping because the entire economy is crashing and burning.

>>49598078
>bro, just crash the economy with no survivors
Holy based retarded burger

>>49595847
war is peace
freedom is slavery
diversity is strength

>>49592514
i mean good for you in some sense but i think it'll probably eat away at you a little bit that you're under water on a $275k house when you could have bought the equivalent for $150k a mere 3-4 years later. it would eat away at me anyway.

>>49608704
Poor people are fat because all they can afford are low quality processed foods, and that coupled with low intelligence and gibs have created the fat, poor people we see today. Pushing working class people of average or higher than average intelligence into that situation is not going to end well.

>>49592514
>yes. i have no understanding of opportunity cost, how could you tell?

>>49591108
>I wanted to buy a house without a HOA......
Just tell your realtor you insist on no HOAs. It's that simple. Pretty much anywhere in the US will have homes for sale without HOAs In fact those are usually less expensive anyway and only idiots voluntarily sign away their rights to a random group of HOA fags who can literally foreclose on you if they decide you broke one of their rules.

>>49599111
>established area
By this, you mean, "Has decent transit." Even if it's just a commuter rail. Or all your neighbors have drivers.

>>49592428
mmm idk man. house next to my parents sold last week for like double what i think it's worth. my friends a realtor and busy as ever. yeah, the party wont go on forever and shits gonna happen, but i dont think it has yet. yet. somehow.

im actually surprised this shit didnt happen a couple years ago. 2 years ago no one was working and everything was fucked. but economy kept going up? wtf.

>>49594319
What is this graphic depicting? Homes being built? Renovations? Etc. not saying you are wrong but if it includes renovations/general contract construction then this doesn’t prove anything. Boomers have been taking out reverse mortgages because of this run up. They then use it to “improve” or modernize the old shit shacks.

just take the squatpill

>>49609480
>all they can afford are low quality processed foods

Bull shit. My food bill goes up when I buy luxuries like processed foods. Buying condiments are a big ticket item too. Buying ingredients and prepping food myself saves money. For example big bags of potato's, carrots, and onions will last me a few weeks. Peppers also last a week or so. Buying bulk in chicken then split it up and freeze them in individual bags.

This isn't hard.

>>49591108
>>49591698
>>49591740
>>49591881
>>49593055
>>49594544
>>49609624
Not going to lie I kinda want o live in neighborhood with an HOA.
>No cars parked in the road
>yards all look nice
>houses can't be painted crazy colors
>low quality people get kicked out
>nice parks

>>49609480
yeah i gotta disagree here. chicken is still 4 dollars a lb around here. rice, cheap. potatoes, cheap. dozen eggs, 2 bucks. banana, 16 cents. '

people that are fat eat garbage because theyre addicted to it. its like looking at a drunk and saying why dont you just drink water. looking at a chain smoker and saying why dont you just inhale air. theyre addicted to the food.

>>49588285
No. It's literally the only place that's actually safe to store value.

>>49608388
The 650-750 range is a joke and has a TON of debtors with a lot higher rates than the lowest available. These are people who have unproven stability or are too leveraged but have been able to make payments during a massive boom. There is really no reason to be below 750 but the majority are because they fucking looove debt.
This crash won't be from hidden subprime defaults. It will just be from a good old fashion contraction with job loss forcing overly leveraged people to sell or default because for some reason there are a shitload of people who make 100k yet are living month to month. The repossession rate on cars is already spiking. Houses is a few months behind that and it'll be a gradual slide until inflation is under control.

>>49608479
Not being almost entirely cash or bonds right now is a dumb shit idea.

>>49610045
HOA's are like 300 bucks a month man. for zero fucking reason. where does the money go? idk. but for the price of a HOA you could be driving around in a new leased caddy.

>>49593627
Lived in a condo with an HOA (Kingsgate Firs in Kirkland, WA), literally king of boomers old fuck would try to control everything, tell you what kind of pets you can't have, installed bright fucking LED lights to replace the sodium lamps so it looked like a lit up high school football field all the time. Happiest day of my life to move out of that place. Never buying an attached wall housing unit again.

>>49610176
This must be surprising to you, zoomerfag, but most wagies don't really have the time or mental/physical energy to buy fresh groceries and then cook meals after their shitty workday is over.

>>49610259
300 bucks is on the cheap end too. I've seen as high as $800. I've heard of even higher but those are usually places with gate guards.

>>49610259
>Keeping niggers out of your neighborhood is worth less than a leased vehicle
Kek

>>49610205
>t. Blackrock

>>49590658
He literally just fucking told you that companies are buying the inventory and renting it out. They'll continue doing that because you'll continue to need a place to live like a good little rent cuck.

>>49610314
im 38 and own 2 houses in full and 9 cars.

going to the grocery store is not fucking hard. cooking is as easy as reading. its not fucking hard. stay mad i guess.

>>49610045
I pay 90 for cars to still be parked on the street, a shitty tennis court and to not be allowed to raise chickens. I want to leave but everything is 700k for 1k sq feet.

>>49610259
The money it costs for an HOA isn't even the worst part. They WILL abuse their absolute power over you hardcore. Happens every fucking time. Try it and see. You'll be getting letters about your fence or your lawn or your driveway after like two or three months tops and it will rapidly escalate to fines and threats of foreclosure.

>>49610402
>im 38 and own 2 houses in full and 9 cars.
You certainly do, nigga, kek.
>teen doesn't understand mental exhaustion and burnout
What a surprise. Can't wait for the next prole chimp-out

>>49610176
>>49609842
Okay I'll concede your point on the affordability, but we are talking about people buying cheetos and soda with ebt cards. In my home we prepare home cooked meals like you're talking about, and my wife has always handled the groceries until now. Due to pregnancy complications she's on strict bed rest for the duration so I've been shopping. Ground beef is over $5/lb, chicken is close behind, milk is over $5/gallon, a can of string beans is $1.59. Gas is $5.09 where I live, and I drive an old Ford work van because I'm a carpenter. All of these prices have increased significantly in the last year. I'm fairly stable financially speaking but many aren't, and they won't take kindly to kike bankers taking their homes when they're scraping for pennies to buy groceries.

>>49610340
or just dont live in a shit place? above a certain price point you kinda weed that shit out by itself. there's no fucking reason to have a HOA in a subdivision where houses are worth 6-700k. maybe an optional 50 bucks a year to maintain culticacs and the enterance is cool. but really when they get hundreds a month X a couple hundred homes, where the fuck is that money going?

>>49610757
all im saying is it's not a money thing. a meal at mcd is like 8 bucks, that shit aint cheap. people just like the idea of driving up, getting their shit 3 min later, then moving on. i get it. but i dont think it's like a financial thing, rather addiction and laziness.

>>49610751
you know what the best part of my life is? not being you.

heres a huge tip for you. not everyone on the internet is a broke loser zoomer living in their parents basement.

good luck.

>>49611135
that only looks like one car, faggot

>>49610340
Just buy like 5 acre and build in the middle or buy a place like that. Less than $300/mo and ensures peace and privacy instead of constant harassment over trivial bullshit.
This is how actually wealthy people live. They don't live on a fucking postage stamp of land surrounded by Karens, in a suburban maze of roads.

>>49588527
Oh man, if I owned a bunch of these things I'd be fucking panicking right now.
>>49595337
In desirable areas theres a ton.

>>49611135
I used to be like you, but one day I realized, my possessions owned me.

Then I started getting rid of my cars and other trash.

And travelled, don't get me wrong - cars are fun, but really what's more fun for me lately is just doing the most minimum amount of work to get the most rewards and seeing my bank account increase as I don't have any liabilities.

No car payment.
No Insurance.
No worry about having to drive.
No commute.
Not being tied down, etc.

I want to get a house, but at the same time, not really. Being a renter and fucking landlords is fun, but also being a renter, renting out rooms on airbnb and being a slum lord is also great fun and how I lived for a few years in big metros' for free. Free.

Now I just work "three" tech jobs by doing absolutely nothing and say hi in meetings and then fuck some asian whores.

It's comfortable.

>>49611406
im not doxxing myself. half the cars are at the other house anyways, which i was told i dont own.

stay jelly, stay mad.

>>49593561
what are your squatting laws?

>>49603958
>The great resignation
Employers be thinking : If only we had ping pong tables so we could retain our minimum wage workers..

>>49611590
im with you. it is a full time job keeping it all 'normal'. but it makes me happy. if i did it all over again it would be drastically different, more geared toward your situation. but here i am.

ultimate it is a lot of stuff. like, a lot of stuff. when i die someone's gonna have a ton of shit to deal with.

>>49610259
It’s a Jewish trick to scam people who can’t qualify for a higher mortgage while still bleeding then at a higher price point

>>49588467
Housing is going to crash but its not going to be due to inflation or job losses. you have no idea what you are talking about

>>49594909
I second this comment!

>>49609480

Summing up what this anon
>>49609842
is saying:
Poor people don't know shit about nutrition and there is typically too big of a squeeze on their time (shitty jobs, long hours) to cook, or they're too lazy to do it.

>>49588957
Don't listen to the retards that live in Arkansas and have never been to a major city because of >muh spooks and mooncrickets. Chicago is getting more and more people priced out of NYC so a condo isn't a bad idea

>>49592514
Honestly anyone who bought house to live in will be fine. Its the mini landlord empire wannabe types that are going to get rinsed.

>>49591279
the entire economy is crashing. There's been hiring freezes at every major company, and layoffs will inevitably follow. Good luck paying a mortgage on a $1,000,000 house when you have no job

>>49594319
Thats part of the problem though. Sudden new oversupply on top of the falling prices. Its a perfect rebound effect.

>>49588957
>2nd highest property taxes in the nation
Have fun

>>49614029
its not a money thing. maybe on the surface, like buying a 9 dollar wrench instead of the 60 dollar wrench, but ultimately its not about money. fast food is the same price now as going to a sit down restaurant. half the quality, double the speed. the days of spending 4 dollars and driving off are gone. its laziness, ignorance, lack of caring. gotta eat in under 5min while i drive from work to walmart.

Elon musk predicted all this

>>49592392
Imagine contributing to USA as a white man

Reading through the real estate subreddit right now everyone saying the market has already turned. Sellers listing their houses and not getting responses and dropping prices when similar houses sold like hotcakes 6 months ago.

The fuck are you RE spergs talking about? Even reddit disagrees with you.

>>49593583
>MUH SUPPLY
you're about 6+ months behind the curve retard, even investech was sending out warnings months ago that the supply cope was bullshit
CAPTCHA: HAXNK

>>49592412
Car market is 100% in a sub prim bubble. The amount of debt propping up car prices and shitty car dealers is mind blowing.

>>49616809

When gas goes closer to $10 a gallon it's basically 2 car payments and will drive up defaults even more.

>>49616521
Its only the beginning and this thread has talk of both Canadian and US market, which are a bit different. Canada imo has a lot more room to fall. Imo we will see collapse in all rural outskirts, the 300% gains over two years was ludicrous, no jobs and lots of empty rentals at prices nobody can afford. Vacant properties galore. The confusing part for me is timeline, there are so many sectors of the economy being affected right now nobody has an idea of what will pop and when.

Imo the wanna be landlords are going to be the first to go. This is teachers and internet trained realestate agents.

Next will be the boomers who will all try to cash out at once on their second and third properties to service whatever debt they have accrued.

The one I'm unsure about is the corporate owned property.

Old school apartnent building owners who have had swaths of realestate for ages will hold and buy more unless some regulations are passed to make this less attractive.

Other than that, foreign ownership, which is a bigger issue in Canada, who knows.

>>49617046

I think the HELOC retards and the Air BnB and the meme house flippers will be the first to capitulate.

>>49616521
theyre just drunk on houses going up 10% a month. 300k houses being listed at 450 and offered to 520. its not normal.

fuck, realtors as a job shouldnt be a thing at all but i digress.

>>49617176
Don't forget the "i can work from home forever" group who is commuting an hour and a half with these gas prices and being called back to work.

>>49617046
>The one I'm unsure about is the corporate owned property.
the pedal will be held to the floor acquiring properties for the sole, only purpose of renting out. that shit is not going away and will be the demise of this economy until a law is made to stop it.

>>49617412
I think it will slow down price drops in the more populated areas, but fomo buyers who paid through the nose for rural homes are fucked.

Toronto outskirt...

I saw a shithole house listed at 320k, needed around 70k to be livable, collapsed septic system and some foundation leaks. New furnace and some hvac inside also.

Sold for over 600k to a young couple from the city who basically FOMOd in with what they could afford.

They will get ruined