/biz/ - Business & Finance

It's a rigged game. The boomers never lose.

>>49642947
It collapse 3 times in the last 40 years

It already is, and faster than I expected. Homes in my areas listed for 1.5M a few months ago are worth 800k-1M now.

Keep coping though, you'll only lose even more money.

>>49642947
I'll just stop paying rent and in my country it takes years for a judge to kick you out. Thanks for the free housing landcuck.

>is not
true
>will never
false, although it may never come back to these leves in absolute terms

I'm pretty sure that because of history repeating itself it will end in a bubble, we're just no there yet because there are many buyers, so not a bubble. When they exaust, say in a period of 5-10 years, it's gonna be straight down.

>>49643003
Shut up rent cuck. There is a supply shortage and we’re being over ran with immigrants who will be competing for housing. You think prices are going to come down because rates went up? Have you heard of our latest fix? The 40 year mortgage, now you get to pay 40% more interest over the life of the loan, and you’ll be happy to do it. Better hurry before you have to get on the waiting list for a gov assigned POD.

>>49642947
I live in rural OH. I don’t think they can go lower.

the moment landlords and multiple home buyers realize they are underwater is when the real collapse occurs. I am hoping in 2-3 years.

>>49643114
You could always pay people to buy your house

there will be a slight correction
it may even be beginning now
the real fun will start when the mass boomer die off gets going

>>49642947
my friend works for modus title and escrow and they just announced in a meeting today they are closing doors and laying everyone off
something is coming

>>49643208
Just take a killdozer to the insulin factory and 30% of boomer are dead in a week. another 20% by the end of the month.

>I’ll just quickly mention that diabetes is getting worse – especially in our age group (boomers)
https://boomerhealthcenter.com/top-concern-about-baby-boomers-health-diabetes/

I've toyed with the idea of renting out one of my place super cheap to an anon from 4chinz. Then again, my neighbors would probably kill themselfs if two autistics lived next door

>>49642947
I work in a mortgage loan company. Our CEO just gave us a big old internal speech about how the housing market is not going to collapse. ALthough there was the mention that a lot of mortgage/finance companies will collapse due to scarcity.

Essentially the idea is that there is just so little inventory that the prices will stay where they are even as the economy goes to shit. The only difficulty will be that the inventory will continue to stay low which will kill a lot of the mortgage industry.

>>49643089
Man, you are butt hurt by the truth. I don't rent, I just seen things.

>>49643329
https://www.realtrends.com/articles/compass-lays-off-450-halts-trading-on-nyse/
link

>>49643465
>there is just so little inventory
In the Phoenix area inventory jump over 50% in two months. However less people can afford a home with interest rates going up.

>>49643452
>>49643351
>>49643329
>>49643208
>>49643164
https://pastebin.com/pgUDWYQL

>>49643023
My coworkers home had a zestimate of 1.4 mil last year. He listed it Memorial day for 935k and he only had one offer so far for 870k.
Buy homes in the 500k range haven't lost any value.

>>49643089
Immigrants cannot compete for qualified mortgage loans, nor can they afford US housing at the current market rates. They're going back to Mexico and wherever in record numbers.

>>49643884
The market is top heavy with McMansions. There is not enough high earners to justify that market.

>>49642947
Fuck landlords. In my last apartment the owner refused to change out a weird specialty lightbulb in the bathroom that would have cost me over $60, this was on top of the already exorbitant rent the owner was charging me. Her refusing to change the lightbulb was a BIG mistake.

One month prior to my lease ending I moved all my stuff to my new apartment and began to think of ways to fuck the landlord over. I began with small stuff such as taking a razor the the caulking in the shower, I loosened the pipe fittings to a very slight drip and cut a hole in the dry wall by the kitchen sink and let a hose drip into it for a few days, I introduced some black mold spores after turning it off and patching the hole. I shaved my head and sprinkled hair and drizzled fish oil in the baseboard heating coils. My ultimate payback for landlord insubordination was collecting bed bugs and their larvae from some junkies house I knew and sprinkled it on the bedroom carpets just before the final walk through.

I drove by the place a few times after moving out and saw a work truck parked outside of it several times as well as an exterminator. I'm pretty sure I rotted out a whole section of drywall. I feel somewhat bad but change the fucking lightbulb when I tell you to landie. I got my whole deposit back because the dumb bitch didn't even look under the sink on the final walk through. Renting can be a very liberating experience if you accept you will not get the deposit back. She called back multiple times asking about the sink but I never returned the calls.

>>49644717
is it possible to learn this power?

>>49643465
If the CEO is taking time to calm everyone's nerves something is up. Also if he's not aware of picrelated he's not a good CEO. Might want to start lining up a new job.

>>49644847
is this real

>>49644717
This should be standard practice for moving out. I have no issue with apartments, but renting single family homes rubs me the wrong way.

>>49642947
>i bought during the peak

>>49644717
I'm thinking based, that landie should learn to give a better service to his tenants.

>>49644717
Uh oh, based as fuck!

>>49642947
Leasing out houses is hard as shit. its more than a full time job. And impossible to keep people out lol.

>>49644037
This

>>49644717
seems odd, did you forget to tip your landchad? landchads appreciate tips.

>>49644847
>>49644878
https://fred.stlouisfed.org/series/MSACSR

holy kek, every brainlet saying inventory is low based on old data

just buy more bear stock

>>49642947
Kek zoomies and poorfag millenials keep waiting for a crash but starter homes will remain out of reach
Maybe you can get a 30 year mortgage by the time you're 50 :^)

Here's the hard cope: Housing prices only went up as much as they did because mortgage rates were next to nothing. Monthly payment on a $400k house at 2.5% is the same as on a $300k house at 4%.

Now interest rates are going to go to 8, maybe even 10. The monthly payment on a $300k "starter home" will be completely unaffordable for the vast majority of Americans.

>>49647525
It’s gonna crash dude lol
It’s a snowball effect, the first person to breaks wins

Also people act like houses are these immortal things, take it from someone know knows (because it is my profession)
The only way long term to profit from renting is to calculate the cost of repairs to the home, not including the stuff that’s already wrong.

House doesn’t have house wrap? Water heater 10+ Years old? Needs new rooft coverings? Hvac system coil rusted to hell?

All of these things together could cost 20k, and A LOT of people are sitting on homes that are worth a lot according to this market, but may need significant repairs. A ton of homes up north probably have structural issues by now since they are old and mostly crawlspaces

In this market you can dump your home that needs repairs for no loss… but in the next coming years, people are going to want significant price reductions as the homes continue to age.

>>49643208
>the real fun will start when the mass boomer die off gets going
>broke millennials can't afford the inheritance tax and the government seizes the assets and auctions them off to investment firms

>>49644717

>>49647684
Especially with people barely able to afford 20% downpayment, most probably put down less

>pathetic excuse for a man feels like he has power becuse he can slightly inconvenince someone who has more power than him.

WOWIE anon, heckin based! ill upvote this! you sure showed that peice of shit!
Now go onto your next cattle barn, im sure you will be treated well.
Remember, nothing is ever YOUR fault, its all those heckin greedy landlords!

>>49642947
>market so overpriced people took 500K loans to buy their 100m apartments
cant wait for this shit to crash

>>49647714
The inheritance tax only applies on estates worth something like $10M or more. That's why Mitt Romney never shut the fuck up about it during the 2012 election.

>>49644717
absolutely based. I live in a nice neighborhood near the beach that has become infested with airbnb's. the neighbor next to us airbnb's but usually its normal folks who just want a vacation near a NE beach. But the owners kids - who are like fucking 40 years old - show up on random weekends to party and be loud as fuck. I've started throwing bird seed into their yard at 5pm each day, which is the usual time they show up to start binge drinking and watch baseball games. I'm going to step up to larvae next time and get that shit infested. So far the most annoying thing i've done is use kali linux to knock them off wifi and make them restart their game every 5 minutes which is hilarious because they're drunk as fuck and incapable of managing anything by that point, so their girlfriends/wives are screaming at them as they incoherently try to figure out their wifi situation.

>>49647701
Thats only if new construction starts to meet demand. Which it wont btw
Captcha: assx4

>>49644925
Nah, landlords that are decent to their tenants are good.
But this is the correct way to deal with bad landlords.

>>49647907
>Hyperinflation
>Shitty sheds are going for $10M
>Feds come sniffing round for inheritance gibs
>Guess we'll have to repo your dad's cuckshed anon, nothing personnel

>>49647907
Anon, the law on inheritance taxes was changed a few years ago, before 2017 it applied to all inheritances. The provision that changed has a sunset clause that will expire in 2027, just in time for the Boomers to start dying off.