/biz/ - Business & Finance

>>50144566
when boomers die but then the politicians will let in 100s of millions of niggers and they will take the houses for free
tough luck homo

>>50144593
see: Canada

>>50144593
>boomers die
>children/grandchildren inherit their homes
Why do retards keep repeating this shit? You're ngmi

>>50144593
One of the ending messages of The Big Short really plays out huh
>i-it’s not the jews

>>50144566
In two weeks.

>>50144677
Tell me how a boomer with 2-3 kids and 4-6 grandkids is going to leave a single house between 6-9 descendants. The house will be sold and the assets will be divided and taxed to the point of nothingness.

>>50144773
By giving it to their favorite and telling the rest to fuck off.

>>50144566
Jesus fucking christ. Here in Indiana you can get a sweet 2 story house with a basement for $100k

>>50144952
You’re not wrong…
Even comes with 1.2 acres…

>>50144952
I’m a ca fag and saving for a house in the Midwest. Plan on saving about 100k and moving down there with my usps job making 65k a year. I know nothing about the Midwest but I want a land with nature around it. I’m so close bros, one more year

>>50145040
>this is all I could ever ask for
>there are anons here who spend more than that on their car

>>50144566
They're affordable now. Stop being poor.

gov will print more homes. small neighborhoods, poor yardage, but it will alleviate demand and cuck megacorp landlords.

Massive gentrification initiatives to rehabilitate disrupted tax basins at the outskirts of big cities.

it will be a big part of the as of yet unnamed great american industrial plan. look for the rumblings of it sometime in 2024, but it won't go full swing till 2026 after some stonewalling in the senate regarding who gets housing priority (single black mothers vs families of any race)

when the fiat system dies and people are not forced to buy real-estate not because they need it, but because they want to keep the value of their paper money by converting it to hard assets

>>50145301
Gold

>>50145328
or real estate

>>50144773
>How is a person going to pass down something!? Everyone's having 4 kids!
We've had negative birth rates for decades. There are literally too many houses to hand down. That's why the boomies had to force immigration.

That doesn’t even account for the increase in property taxes. I genuinely don’t understand society hasn’t collapsed.

I’m baffled by how everyone is getting by seemingly without much trouble. It’s like they either just don’t understand what is happening or they just don’t have the mental capacity to care. I’ve been living at home saving for a home/property since early 2020, I was explaining to my mom that I’ve actually made no progress because houses that were 200k when I first moved home are now 300k and during that time I’ve accumulated about 100k to use for a down payment. Even if I tried to buy back then, I’d need to borrow 200k, same as today, but I’ve actually regressed because borrowing costs are higher today.

She just couldn’t accept it. She just says things like “well, I’m sure house prices will come down soon” or “look at your dad and I, we didn’t have a degree like you did and we turned out just fine”, it’s like her brain just doesn’t allow her to accept it. And these aren’t hypothetical numbers, we pulled up houses in our area that were going for 200k in early 2020 that now go for 300k.

>>50145750
>I’m baffled by how everyone is getting by seemingly without much trouble.
a lot of people worked from home and/or didnt go outside to play for 18 months. So thats a lot of savings people have to burn through. wait for the winter. Savings will be gone by then. They already are starting to dry up as luxury big ticket items (TVs/appliances) aren't being bought as often now.

>>50145750
Actually you’re in much better shape having 100k saved. Just get like a regular job and you can qualify for a mortgage easy.

>>50145913
Savings rate as a percentage of disposable income is plummeting but households still have an enormous amount of cash

>>50145972
Okay, practically speaking it’s easier to get a mortgage now, but the financial reality is I have not gotten ahead at all if the goal is owning a home. And I work as an engineer already.

>Know thy enemy.
When blackrock, citystreet, vanguard and the rest of the trillionares decide they don't want to own like 80% or more of the housing market to rent to you instead of selling a home.. Then the prices will go down, not until then as they keep gobbling up the housing market with insane bidding prices the average joe cannot refuse compared to a regular family trying to bid.

Here, have a 2 hour listen to know who you're up against..
>https://twitter.com/i/broadcasts/1RDGlgLlMylKL?t=ntOK3VyTIg0BjbxotzOC3A

>>50146163
Last time i checked funds still owned only a marginal percentage of private housing, its real estate investors and house flippers youre up against

>>50145056
>More nature than CA
You won't find that. On the bright side, though, everything practical to live an easy life is much better here than in CA.

>>50146318
They're working hard to scrub and clean the net of their agenda and tracks, hired goons (maybe even yourself) are put to work to smear any and all attempts to point at their masters. They wouldn't dare to bite the hand that feeds them..
Of course they're also not stupid enough to buy the world under their brand, they just own a plethora of companies that works under them if you just look close enough under their biography
>https://www.youtube.com/watch?v=GAIcet1mQwg
>https://www.youtube.com/watch?v=CGqgyjUcq1A
>https://www.youtube.com/watch?v=bEQcyIGH_vQ
And I know media is not on our side either but they are on the money's side which ultimately will be the losing side and anyone that defended them will get their judgement

Stay in your shithole.

>>50144566
Due to a housing shortage and continued elevated construction costs, prices will continue to rise gradually overall. There will be corrections in some areas but a lack of inventory will keep those small.

Over time most houses will be rented by large corporations and the ability to build generational wealth by owning your own will be gone for most people. Its the death of the American dream for them. But hey at least my zestimate will be epic.

Renting is where corporate investors are going to get their profits. Buying your own home has long been held as the best investment a person can make. Home buyers have historically built generational wealth by simply owning the home they live in. It's also the best way to ensure that you don't outlive your money when you retire.

The corporations have now figured out how to move that wealth accumulation from the people living in the homes to their own balance sheet. By making homes so unaffordable that most cannot come up with the down payment or hope to cover the monthly mortgage. Now they have a large pool of rent slaves to exploit.

They have practiced this model with mobile home parks for years. Corporate investors make enormous returns off of those. Do those look like they are concerned with quality to you?

>>50148697
Reddit spacing
ios posting
>MuH Corporate InVeStOOOOOOooOOOor
BTR

>>50145040
fuck that's what I want. But i'm living in KEKED washington DC can't even move because my company won't let me (even though i'm a remote worker).

>>50145040
>>50144952
Now find me that in New England or upstate New York
YOU CAN’T.

>>50144566
>When are houses going to be affordable again?
When the FED unprints the ocean of dollars it printed the last two years.

>>50145972
>>50145750
>>50145040
>>50144952
this is my problem now. I saved 120k in 2019 to buy a house in 2020 , I moved back to my home state march 2020 lmao. One week later covid lockdowns happened and I havent been able to buy a house since. most houses were 300-600k in my area for a "normal house" 100-300k houses dont exist here anymore. 400-600k houses got sold in 1 day due to the frenzy in mid 2020-all 2021. now finally the frenzy is over and im seeing houses sit for weeks/months but the house that should be 400k is listed as 700k with 20% down AND 5.5 interest rates its almost 5k just for mortgage payments where as in 2021 at 2% interest rate a 700k house was like 2.5k mortgage... im just waiting for the correction/crash now and gonna continue saving

>>50145750
I mean, if you really have 100k saving you are so far ahead of literally everyone its not even a little funny.
I get what you saying though, i have no idea how shit is not in flames right now with housing inflation, out of control energy costs, etc....
The collapse is happening and you are in a great position, just hold steady and keep saving....
Fyi, i was where you are in 2008, wife and i moved into inlaws for two years and saved, we went through last recession with zero debt and right now i own outright a 650k house.
Time is the enemy but its also on your side...

>>50144566
SOON

>>50149761
bro the north east is trash, I'm pretty sure the land in haunted, that's why everyone is so ugly and has stupid accents around here.

HURRY UP FFS

>>50144566
>when are democrats going to stop importing brown people to replace white people?
beats me, dude

>>50144773
This is why assets should be given to the first born son like in olden days.

>>50145750
>getting by seemingly without much trouble.
Because they are. I don't think people realize just how comfy and safe money-wise most americans actually are. All 'inflation'(supply issues and price gouging) has done is lowered the amount of big screen tvs people by and how often they go out to eat, not put them in the poor house.
>since early 2020
You mean when housing prices spiked? Real estate is usually on 5-10 year rides. This is why you take mortgages out in the first place. You only need the down payment you need to buy the house in the first place with a mortgage you can afford. Then you dump the money you would have wasted on a huge down payment to either fix immediate problems or start paying down the debt on the house.

They're affordable to me lol :)

>>50150148
2/3rds of Americans live paycheck to paycheck. How is that “comfy”?

>>50145203
that's only true if you wfh and have a high income.

>>50149842
Seems like a crash is inevitable under those circumstances, none can afford houses anymore, not even investors or house flippers because money isnt free anymore and as soon as houses crashes i doubt big funds buy the dip, they want to make profit on it and not buy a risky asset, which houses werent in the last years due to huge demand

>>50150810
literally the only reason prices shot through the roof was because of low rates.

>>50145750
My mom is the exact same. She's telling me to get a mortgage RIGHT NOW, and that "No matter what happens I'll land on my feet."

I told her about the housing market and she just laughed at me. "Housing isn't an investment, it's a place you live. The price doesn't matter."

>>50150857
call your mom nigger cattle and tell her that she would have been one of the retards $150k underwater back in 2008 for the better part of a decade if she happened to buy back then.

>>50145750
another fun thing to consider is the amount of <10% down payment FHA mortgage holders who have lifetime PMI unless they refinance (to a 6.5%+ loan if we look at rates today.) conventional mortgages and FHA with >10% down drop PMI after 80% LTV but not <10% down FHA -- it's for the lifetime of the mortgage. kek.

>>50150857
She's right though. Housing isn't an investment, and over the last 100+ years the prices are pegged to inflation on average. When prices move away from inflation, it's a bubble and corrects itself.

>>50144952
>living in indiana

I live in a shitty neighborhood near Fresno CA. House was built for $25k in 1956 when my grandfather built it. The house sold for $87k in 1987 when my dad bought it from my grandfather. The house sold for $275k in 2016 when I bought it from my dad. I just put the house up for sale at $405k. Like I said bros, I live in a bad neighborhood that is 50% spic, 25% black, 25% White. The world is insane right now.

>>50148697
you are wrong and this is alot of cope written from someone who obviously fell for the "real estate has nowhere to go but up" bullshit

when people without jobs have to pay for food and fuel increases there will be a real correction in price of housing relative to other goods

>>50151009
thats fucking retarded to go in and buy based on a 2-5 year market cycle when you get a 30 year mortgage

if anything you should be looking at what 2-3 decades average should be and decide if thats a good time to buy. right now its a stupid fucking thing, folks are assigning their wages to the bank for decades and if that isnt bonded servitude i dont know what is

>>50150941
>call your mom nigger cattle and tell her that she would have been one of the retards $150k underwater back in 2008 for the better part of a decade if she happened to buy back then.
she would have hodl and been fine like 2 years later

>>50145750
>people seem to be getting by

for now, give it a bit more. we still havent repaid the debts accrued during the covid shutdown

>>50151294
>when people without jobs have to pay for food and fuel increases there will be a real correction in price of housing relative to other goods
Housing prices will not come down until supply meets demand. There are not enough houses in the US because democrats around the country have stopped building. They will not allow for land to be developed, and many are requiring multi-story residential with 30%+ saved for low income housing.
Until supply meets demand, any dip in the housing market will be bought by hedge funds that are using the market to hedge their SP500 investments in this bear market. Prices will not fall until demand does.

what's this obsession with houses? Just rent an apartment like every sane person.

>>50150734
Stop. Being. Poor.
The world doesn't owe you anything.

>>50151339
>supply meets demand

there are plenty of homes for sale right now, there isnt a supply issue so much as a bunch of folks with money lent to them by the gov went on a buying spree in a speculative market, they also fleeced a bunch of idiots into FOMOing into buying a home at an inflated rate

>democrats stopping developers

this is 100% bullshit, i hate the democrats but if cities like atlanta are a test case for anything they have been building nonstop.

the only thing the democrats have to do with this insance housing pricing right now would be rent markets in that the 30% you mention is really closer to 50-60% HUD vouchers (fucking welfare hoodrats and shit) occupying multimixed living units driving the occupancy rate artificially high to the point that anyone willing to actually pay must do so at a higher rate

that model will not last as more people are forced to rent there will be a vacuum in family properties

everyone is about to be poor basically

>>50151414
>plenty of homes for sale
They’re for sale because the price is high you fucking jewish moron. A tight housing supply doesn’t mean there are literally no houses for sales. God damn you low iq zoomer half nog
>democrats aren’t blocking housing
They’ve been blocking housing in California, the biggest housing market, since the 2000’s. You’re unironically retarded and you don’t even understand how one of the most basic market functions work. They’ve been talking about this since the 90’s. It’s not new or talked about on tiktok so you’ve never heard of it
>build more houses and prices will come down
It’s one of the most basic macro economics concepts, but you don’t see to get it

>>50151794
Feel like the other guy is being pretty chill, why're you so angry anon?

>>50151878
>gets on vpn to jerk himself off
>a-anon be n-nice
>still poor and cannot an house
Many such cases

>>50151878
because he is wrong, if you notice he never refutes any of the other points i bring about; simply double downs on what he previously stated as if repeating it makes it true

>>50151930
awwww he accused me of same fagging thats cute

>>50144566
This is why
>as rates go up prices go down
is a cope. Mortgage isn't a flipping bond, there's no direct correlation between the rate and the price of the asset, both can easily go in one direction

>>50144566
I can’t believe I actually bought a house in late 2019.
It is the only well-timed financial decision that I have ever made in my life.
I am forever grateful.

>>50151953
>b-but you didn’t refute me
Nigger all you did was say I was wrong when I am clearly right. If you think I’m wrong, then address my points and offer proof of your claims.
>fucking nigger can’t even English

>>50151399
>that nigger cattle who grew up in an age of law and order, who can't even comprehend the idea of random acts of violence against the landowning class

btw i wfh and make six figures, plan on buying a home in my flyover hometown within the next couple of years -- my salary growth far outpaces appreciation on these types of homes. keep coping.

>>50144566
>mortgage is included in the price
this is why bankers should be killed and thrown in a ditch

>>50152004
>i wfh
>make six figures
>plan on buying a home
>in flyover hometown
>within the next
>COUPLE OF YEARS
Fucking kek what a retarded larp. If you are White, you should be able to save 60k your first year of employment. You work from home in a fly over state, yet it will take you years to purchase a home with a 6fig salary.
This is a terrible larp created by a lead poisoned retard, or you’re unironically a nigger

>>50151992
i already did with my first post, go back and explain to me why the M1 supply pumping is responsible for the artificially propped up housing market along with the rest of them. crypto and stocks are beginning to tank, the rest will follow soon until prices align with real world goods and services such as fuel and food

you are a god damned moron to think the price will rise and stay high in one place but not the others in a general market pullback (correction). everyone about to be poor, except the morons who FOMOed in the past 2-3 years are now gonna be poor for the duration of that stupid high loan they took to buy the mother fucker

the indicators that the real estate market are going to continue to do well are as fucking fake as the GDP, so much so the retards in real estate are actually believing their own gospel

i can only lament that i would find this humorous if it wasnt so god damned depressing at how retarded people like you are

>>50152070
>six figures
>saving $60k a year
i'm not going to waste my time explaining back of the napkin tax calculations to a retarded midnight black gorilla nigger. good luck in life, might want to tone down the smugness before someone rips you open groin to throat with a serrated blade, just for fun.

>>50144952

How does Indiana manage to slip under the radar? Seems like I never hear anything about it, either good or bad.

>>50144566
Never, prices will double again within a few years, along with 10% interest mortgages.

>>50152116
its literally purgatory

>>50152004
you're unemployed, living with relatives in a dingy room, and constantly masturbate to cartoon women.

>>50145750
>I’m baffled by how everyone is getting by seemingly without much trouble.

Salaries have gone up quite a bit over the last couple years as well. The Fed and others put a lot of the blame for inflation on that.

I think data suggests that people are also racking up more credit card and other types of debt to make ends meet as well.

>>50149680
Kek are you me anon

>>50152079
>first post says “NU UH THERE IS NO HOUSING SHORTAGE BECAUSE I SEE THEM FOR SALE”
Not going to bother reading the rest because of how retarded the beginning was. Your first day of Econ will explain supply and demand, but you wouldn’t know because you’re a public school drop out who can’t afford a house kek.
You literally said no you’re wrong to everything I said, then bitched about me not addressing your points. You talk like a woman because you still live with your mommy huh anon?

>>50152282
haha faggot

>>50145040
I was born in northern Indiana and moved to Dallas/Austin as an adult. There’s a reason these houses are cheap.

The weather sucks, you’ll get 3 months of summer and 6 months of shitty cold weather and snow. The job prospects are very mediocre. The attractiveness of people there is depressing. The good looking ones move away, you’ll be lucky to marry a 7.

No real nightlife, just shitty hole in the wall bars.

I guess if you are already married and don’t mind cold weather you could move there.

>>50152438
true of most flyover shitholes. the pussy peaks at 16 and hits the wall HARD at 24, like +50 pounds and +3 children and usually +1 divorce. say what you want about roasties in the suburbs and cities, at least there's pretty ones if you have the money and social status.

>>50152438
>t.

>>50150941
If they have a 3% FHA loan and 0.85% mortgage insurance what is your point? They’re stupid for paying that instead of 6% first and 1% mortgage insurance on a conventional? They should thank god for HUD every day.

>>50146056
you can easily get a home with a 100k down payment, tardo

>>50144566
USA has some of the most affordable real estate in civilized countries
There will be no crash. We just had a price reset in 2008.
Inflation is going to get worse and everything, real estate included, is going to only be priced higher in dollar terms.

>>50152941
Yea, in a shithole, try that in a decent area, you will get laughed at.

>>50145056
I deliver mail in Wisconsin. Winters can be tough. If you are a California fag you will never make it here.

I literally just sold my house for XRPee and ICPee.

>>50145370
(((Boomies)))

>>50152980
median downpayment for a house is 30k
wow it's almost like you dont know what you're talking about

>>50146056
Buy now with 30% down. My son is trying to save 50% down but he would have been better off buying a year ago with 25% down due to price increases. There is a housing shortage and new construction prices are outrageous due to material costs/shortages. Rent a room out to a fren. If rates drop at some point just refi.

HousingBros...

>>50146318
Investor here. Can confirm. Tough finding deals now with all the homeowner wanna be's driving up prices on my potential rentals.

>>50153149
there is no housing shortage
go to zillow or any other site and see all the houses up for sale
tons of em

>>50153040
What if you are from Tahoe City, CA?

>>50149761
bro, just look at land in NH 5k for 1 acre that doesn't have road access is the cheapest you'll find, undeveloped.

>>50153228
Most of the people who live there are boomer liberals who do nothing but watch CNN all day because they get free money from social security just for being old

>>50150141
Based Primogeniture poster.

>>50153206
You still don’t understand. The most basic principle of economics is foreign to you. You will be poor forever kek.
>houses are for sale
>there is no shortage
Lmfao I honestly think you’re a fucking nigger

>>50144566

Kek, I bought a house right before covid started and everyone on /biz/ told me I was going to get rugged. Never listen to /biz/

>>50144566
>Two years ago, there was a sudden drop in housing prices, as people were quarantining and couldn't move
>Today, the rates have only recently risen and housing prices are just starting to react
Woe betide ye who puts half a million dollars into a bungalow.

>>50153079
Maybe for a trailer.

>>50144677
Boomers are going to sell their houses to afford their medical care/ a trip to Cabo, they same way they sold their own parents' houses to pay off their massive student and credit card loans/a trip to Cabo.

>>50144566
Twomorrow

>>50144566

>>50149680
Please leave you people have ruined Moetown.

>>50153282
you're the one who doesn't understand
housing inventory can flip on a dime
all it takes is more people putting their houses up for sale
"low inventory" is just the sign of a bubble
there is no way prices continue to increase with higher interest rates
literally all assets are crashing; housing is not magically immune to what we are going through. it's just slower than other markets

>>50153367
>more nonsense
>no data
>trust me
Retard can’t even economics. That’s 3/3 for you nigger boy

>>50153395
>housing go up forever cuz reason
lol k
we'll see who's right a year from now

>>50153321
no, not for a trailer.
look it up, dingus

>>50153413
I never said that you nigger boy. You said there is no housing shortage and I said you’re an unironic nigger boy for saying something so demonstrably retarded, and it spiraled from there. You might get away with being a retard to your mommy, but I won’t be having it Deshawnte. Hedge funds have been snapping up low cost housing to hedge their shitty SP500 investments, and democrats are blocking housing in major metro areas. Go ahead and argue with “trust me bro” but you’re still a nigger

>>50153395
literally look at redfin. prices have dropped too. "low inventory" is a meme.

>>50145750
If you had 100K and didnt jump on a 2.25% fixed rate loan for a house at whatever price you fucked up. Aren't you sick of living with your mom? Plenty of houses with land in rural areas still going for $150-200K and not much of a drive to the city if you even need to go there.

>>50144566
Never

>>50149649

>>50153573
>the market isn’t manipulated
>the market is in a recovering state
>just too poor and retarded to afford a home
That’s not the truth though retard.

>>50153395
>muh 6 month old data filtered through paid journalists

>>50145750
Are you trying to buy a home with cash? That's a pretty bad financial decision. Rates are still way lower than what you could expect in returns if you invested your money.

>>50153766
>jim profit
>lanced jack
>taiga
>2008
I'VE BECOME SO NUMB
I CAN'T FEEL YOU THERE

>>50153839
>another excuse
>more trust me bro
>doesn’t even make sense
>there are plenty of houses goy
Post nose

>>50153467
you raging against "democrats" gives me more confidence than ever that housing is going to see a fantastic crash

only stupid people still play the red vs. blue game

>>50152438
Weather in Texas sucks too though, you have 6 months of air conditioning or die season. You're definitely correct about the job market though.

>>50153943
>Weather in Texas sucks too though, you have 6 months of air conditioning or die season.
*laughs in phoenix, arizona*

>>50144566
You vill own nothing. Remember?

>>50152499
>wanting to live in a town with amenities makes you le urbanoid bugman
Nice meme. Indiana is filled with tiny towns like Farmersburg. Most of them have been slowly dying for the past 20-30 years because whatever local industry sustained the town went overseas. Now the only opportunity they have to offer is earning minimum wage at the local Dollar General, at least until the local boomers (most of the population) die of old age and the town finally dries up for good.

>>50144566
>do pic related for some time
>save money
>retire in a sub 100K property in the middle of nowhere before you're 40
I don't even have to do that since I live with my parents and work remote.

>>50154102
>WUTS WRONG WITH WERKIN AT THE DOLLER STORE?????

>>50145040
>flyoverfags literally have towns called “farmersburg”

Hahahahahahhaaha

>>50154121
Ruraloids are natural slaves. Why do you think they defend the fact that 90% of jobs in this country are shitty service industry slave labor jobs don't dont even pay you enough to live?

>>50154138
>WE'S GOT WERK ETHIC
>SORRY YER A NIGGER WHO DONT LIKE WERKIN 75 HOURS A WEEK FOR MR SHEKELSTEIN

>>50153937
>no political issue is ever red vs blue
Kek you retard, democrats are pushing public housing and blocking the building of homes for this very reason. Go ahead and deny all you want, but I’ve shown you to be a Down Syndrome nigger several times already. I’m an independent but I’m not so retarded as to forgo my rationale in favor of sitting on the fence. Don’t forget that you’re the poorfag who can’t afford a home. I’m in my insulated and air conditioned man cave smoking weed and watching YouTube while you tell biz that the housing market is healthy from your public housing apartment in some nigger city.

>>50154138
Yeah, urbanoids working for finance and television sure produce so much more value.

>>50154108
I can't believe more people haven't taken the digital nomad pill yet. Feels good making six figures and going wherever you want while normies live in cities and deal with riots daily.

>>50153206
Prices are high due to lack of supply smoothbrain. If there were a glut of houses, prices would drop as owners try to unload them.

>>50150941
Wtf are you talking about, it drops at 22% or 20% if you call. I have a 3% down FHA loan and thats how it works. Why are you lying? (Or dumb)

>>50154386
prices are already dropping, sweetie

>>50154410
you might want to read your paperwork

https://www.hud.gov/sites/documents/15-01MLATCH.PDF

>>50154433
>literally never looked at a stock chart in his life
Kek

>>50144566
i hate everyone that owns a house without any exceptions

Just wait
>2 MORE [years]

>>50154436
I did and thats how they work (like I said). Why do you continue lying fag?
>>50154433
I wish
>>50154138
Just work from home. If youre not doing remote work in 2022, youre dumb (or are a trade which is honest work and you can do anywhere too)

>>50154603
i'm linking you straight to the government's FHA documentation you midnight black gorilla nigger. if you have an FHA loan on a 30 year term and you put <10% down, your PMI is for the LIFETIME OF THE LOAN, PER THE DOCUMENTATION.

>>50154410
>>50154603
MIP drops at 20-22% on conventional loans, not FHA loans. FHA loans will require a refi or you will have to pay MIP for 11 years or life of loan depending on how much you put down. You got into a bad larp or you’re actually retarded and didn’t read the paperwork due to your poor financial comprehension.

redfin.com/news/housing-market-update-price-drops-hit-new-record/

why are you fags in denial about price drops?

>>50154714
he's sweating bullets right now.
>UHHHH LANDCHADS I THOUGHT THIS WAS SUPPOSED TO DROP OFF AUTOMATICALLY????????

>>50150148
>supply issues and price gouging
Best Goy.

>>50154483
>>50154603
housing prices have definitely begun to drop. you are not living in reality
lol
https://fortune.com/2022/07/03/redfin-housing-market-predictions-2022/

>>50144566
When you kill all the politicians and 10,000,000 liberals and drive out all the pajeets niggers Chinese and spics.

>>50149842
>im just waiting for the correction/crash now and gonna continue saving
I said this in the early 2000s. Crash never came. Not even after 2008 (outside US).
Real estate will never crash again (any dip will be short-lived).

>>50154433
Sure higher are bringing prices down some from overinflated levels. No crash though. Totally different market from 2008. Very tough to qualify right now. 40% of homes are free and clear of a mortgage. Most mortgages are locked in at a 3% rate with low payments, meaning most don't want to sell and take on a 6% rate. Huge demand. Again- no crash

>>50154577
What about those of us with 3?

>>50155768
it's already happening
you're like the retards who said btc would never go below 50k cuz muh inflation

>>50155778
yup, no crash. no crash. just keep repeating it and it must be true
people all needing to sell their houses en masse to get cash for living expenses, yeah, that would never happen.

>>50153282
>national ass of realtors
Totes impartial and not just trying to exit pump

>>50144566
When you start working again, you choad.

>>50144566
Probably when it's no longer profitable for blackrock to be holding all that property. Would be nice if they passed some kind of tax that made it financially untenable to hold that kind of property for investment purposes, but I don't see that happening.

>>50145750
Based motivational mom.
Stop dissing her on this indian plumbing forum. She's trying to give you fucking hopium. If anyone is allowed to push hopium on you it's your fucking ma. Allow it and hug her more.

>>50152079
Do the math for me: 200K 30 yr fixed at 8% vs 300K at 2.25% - which is greater? Maybe that same house won't be worth 1MM in the future but you can't put a price on having a barn to keep tools in or waking up to a rooster. Fuck being a city cuck and fuck having to give a college thesis tier explanation of the economy to thots to explain why I'm living with mommy. Sorry you couldn't get a house off-market you isolated retard but don't assume everyone who bought a house at these crazy low rates are retarded. I have 40K USD coming in at 3% to slurp some crypto with and that's the growth in equity I saw in 1 year. Plus when I tell people where I live they don't secretly wonder whats wrong with me

>>50149649
Coping hard

the upcoming recession is going to be biblical on house prices, wait at least 6 months after they confirm the recession for the bottom but any price would be guaranteed to make you money in 3-4 years time.

>>50144566
I hope it crashes. i live in vancouver where tiny crack houses sell for > 3 million.
this article was from 6 years ago:
>https://www.cbc.ca/news/canada/british-columbia/vancouver-teardown-real-estate-1.3449869
house prices have doubled since then

>>50153282
the shortage is largely due to the high level of investment property ownership though.

>>50156448
This

>>50156189
>actually taking 30 yrs to pay off the mortgage
>do the math which is better

ya id say you are retarded; you bought high and assume your income stream will stay the same so you can continue payments. must be scary looking into the financial void

>>50144566
When we start electing Hitlers again

>>50145040
Thanks just bought this

builders are building a new row of townhomes down the road and charging $450k each unit. they went for $280k 5 years ago

>>50144566
Never

>>50145370
Immigrants will keep the property values high

>>50144773
Because boomers own 3-4 homes? Who did you think you were paying rent to?

>>50144566
If by affordable will there ever be a time as favorable as 2020 to buy a home the answer is no you missed your chance

>>50144566
Anyone have up-to-date time series data on average mortgage payments? Couldn't find it on Fred.

>>50157597
No they won't lol
They are net consumers of tax dollars

>>50157542
The equivalent with the same land acre to this in bongistan is $120k and it's probably literally ancient.

>>50157623
Prices are already falling
Stop living in denial

bought in late 2020 before house prices jumped but at a 2.6% interest rate

>>50153978
Yeah I don't know why you would choose to inflict such horrors on yourself. I live in the Midwest and there's a reason nobody lives in upper Michigan or Minnesota year round kek

>>50144566
with a bit of luck the top 10% of millennials can finally afford a house again for a few years and that will be the last chance a normal person can get into the housing market until 100 year mortgages are invented

>>50157731
Would you say housing is in a NEW PARADIGM??

>>50144566
Median price, Average price, Percentages and Statistics are all jewish tricks to give the illusion that an ant hill is a mole hill.

In the past 2 years, their could have been a huge amount of $1mill homes being built which would have increased the media price. Or this time around they sampled a different area.

>>50157755
>Average sale price across all public records is manipulated
And what do you suggest to use instead? Anecdotes you hear at a grocery store?

>>50157754
it's not exactly new

>>50145040
if it's cheap you will live around niggers

>>50144566
they haven't been affordable since the 40s

but prices will crash next year

>>50157817
>line always go up
>line never reverse

>>50144677
>Why do retards keep repeating this shit?
I don't know. my boomer reverse mortgaged his house before he die, and I was left with nothing

>>50151334
>>50152943
>>50155768
Holy shit who keeps telling zoomers that the 2008 crash was only like 15 percent and hodling 2 years would have worked lmao based revisionists

>>50152116

Because it's terrible

>>50144952
you can get similar in much of Appalachia or rust belt

>>50157861
nah you're right you called the exact top of a 50 year trend propped up by irresponsible monetary policy using nothing but /biz/ and wallstreetbets buzzwords

>>50157921
yes, i did call the top
thanks
now this is the part where you admit i'm right but it'll only be a "small dip" kek

>>50144952
I actually don't believe this to be true. But, if it was, I was recently considering a 500sqft condo apartment in Chicago as a rental property for basically that same price. But again, I don't even think you're telling the truth. Not in any part of Indiana anyone would want to live (and I like Indiana)

>>50152116
There are only three things in Indiana:
Corn
Ghettos
Indiana Beach
https://youtu.be/Xz1qCii1yNI (start at 1:00 for the song)

>>50157691
2.71% on mine, ill get it paid off in 15 years cause the payments are so low i throw extra in principal everday

>>50154157
as a rural right-wing retard(R3), i appreciate the fact that someone took the time to make this

>>50158111
based and checked

>>50157976
I live in a small rural town in Ohio and bought my house about 4 years ago for under 90k. 3 bed 2 bath with a finished basement. Granted now it would probably sell for 140k+ because the housing market is insanity.

Soon

Phoenix, AZ now has MORE Homes for Sale in 2022 than it did at Pandemic Start. +125% Inventory Surge in 2 Months.

Buyers are gone. Sellers are desperate. This is what start to a Housing Crash looks like.

>>50144566
No refunds, Jack. You gotta pull yourself up by your bootstraps. Rising prices are all Russia's fault.

>>50157774
Counting all the houses you sub-50 IQ nigger.

>>50144608
Lol, all those transplants are going to fuck off the moment Canadas economy collapses. Same with the US.

>>50144677
Most of the boomers I know are being forced to sell their proprieties to get through retirement.

>>50158503
No they aren't
There won't be anywhere better to go. Also Canada's government and public services are control by shitskins. If anything Canadian white people will be forced to flee

>>50145750
>She just couldn’t accept it.
I know how you feel. I'm an older millennial so I got to watch the transition from pre 9/11 to post 9/11. We live in a completely different world now. The sad reality is most of these people will be dead before they have to deal with the collapse.

>>50150148
>I don't think people realize just how comfy and safe money-wise most americans actually are.
Credit and debt. Its a house built on sand.

>>50158503
No they won't.
They are squatting in this land now and taking it over from the white people.
Canada is 35% non white now. Up from 15% in 2007.
Thats a 20% increase in just 15 years.
This country has been chinked and pooed.

>>50145272
The us government is incapable of doing anything but sucking corporate cock. Every boomer in existence would rather slaughter their children wholesale in sacrifice to the gipper than allow government to expand housing. Boomer home price going down = communism

>>50149649
cope
seethe
dilate

>>50144566

>>50156448
everyone over the age of 40 shits on bitcoin while taking out 30 years loans worth 100% of their future income to buy a 2 bedroom ranch because price "literally can't go down"

>>50157581
yeah this is sustainable and also healthy for the economy and also doesn't breed generational resentment

T W O
W E E K S

>>50154641
Please stop lying anon. Thanks.
>>50154893
>>50154714
Nah, not sweating. I am right. I read the paperwork.
>>50155278
Go down isnt dropping. Sure they will plateau not drop

When all the boomers are dead.

>bought family home 9 months ago
>still locked in at 2.09% for just over 2 years
>can pay it off in 15 yrs on my income alone, not counting wifes income
>this is in Australia, median house price here $525,000
>30mins from CBD and beaches, close to major arteries.
>250sqm(2700ft) 4x2 brick and tile home on 750sqm (8000ft) block
>solar, ducted reverse cycle, woodfire heater, open plan living/kitchen/dining
>fruit trees, powered work shed
>dead quiet white neighborhood that's quickly gentrifying with new families
The homes ARE there if you look. Let the immigrants buy the overpriced, sardine-canned, new development hell. Any brick house built in the 80s is superior in every way to a newly built home anyway.
My younger brother and his mates are now looking at the place i bought and realizing there actually are good buys out there if you adjust your expectations
>maybe we dont need to live in the city center or surrounding suburbs
>maybe it doesn't have to be brand-new with all the best of everything
>maybe doing a little painting and changing the curtains myself isn't the end of the world

>>50159443
I looked it up out of curiosity and seems they are correct unfortunately anon. How far along are you in the process?

Also feels /comfy/ to have just bought a 150k condo in cash. Interest rates can't hurt me. I could unplug and cover the HOA + property tax + utilities with dividends if I wanted.

>>50159790
Idk, I might just have conventional, haha. I dont give a fuck, PMI drops off after 20% if you call.

HOAs are shit anon, no thanks. Also paying in cash is dumb. Use someone elses money, my grandpa and I was just talking aboyt that today. He wished he had taken loans for his farm land so he could've purchased more. Only time I wouldnt is if you're in leafland

>>50159443
data says they are going down
you can live in fantasy land if you want

housing prices ARE correcting, it just so happens to be that the correction is upward and houses have been UNDERVALUED dramatically in the US over the last decade or so

>>50160449
yeah except that is not the case

>>50160478
looks like it to me

>>50148697
wow you are busy on every housing thread.
nice and desperate, I like it.

>>50160532
looks like a fomo ride up to me.
now we're going down thanks to increased interest rates + cost of living increases + people getting laid off

>>50158490
Average sold. As in average of ALL SOLD HOUSES. Do you even check the metrics or just start screeching instantly?

>>50160449
How can housing be under valued when wages have remained largely stagnant? The only thing driving prices has been cheap debt.

>>50160566
increased interest rates mean that transactions will likely grind to a halt but given that many buyers over the last two years fixed their rates for 30 years at generationally low levels, they won't need to panic sell their home.

>>50160449
>housing prices ARE correcting, it just so happens to be that the correction is upward and houses have been UNDERVALUED dramatically in the US over the last decade or so

>>50144566
what part of owning nothing did you not understand?

>>50160661
imagine thinking a median home price of $300k is a lot of fucking money lmao. When an American couple with more than 2 brain cells to rub together can easily pull in 100k HHI.

Meanwhile homes in Canada are virtually double that amount (and much higher in desirable cities) despite citizens here earning about as much if not less than Americans, on average. The aberration that is cheap American housing is now rightfully being corrected.

>>50144566
when blackrock rugs+when massive foreclosures happen due to people being unable to afford the mortgage interest payments

>>50160722
it all depends on location
300k in the middle of nowhere is retarded

Not an issue when zoomers are getting 60k jobs right out of college to post tweets and blog post on Linkedin for their company.

The reason why the housing market is considered shit now is because women are now independent and will buy any shit home as a "fixer upper" or a "new flip project".

Women have ruined the housing market. Not the boomers.

>>50160624
so you admit that buying will grind to a halt
but somehow prices will stay the same/keep increasing
ooook bro

>>50160722
>imagine thinking a median home price of $300k is a lot of fucking money lmao.

it is if you're not top 25% of US income percentile

>despite citizens here earning about as much if not less than Americans, on average. The aberration that is cheap American housing is now rightfully being corrected.

the aberration in canada has a lot to do with foreign nationals of a certain east asian nation buying your real estate. it's also happening here in the US, except those foreign nationals are also competing with US private equity.

>>50144566
Never, anon.
Affordable housing was a post-ww2 boomer meme and the first real effort to tap into the unexploited consumer debt market. The debt is now overexposed and prices are only going up

>>50144566
The housing market will crash in just two more weeks bro just trust me bro
Sauce: my ass

>>50160811
correct

>>50160814
sounds like a recipe for prices to continue moving higher

>>50144677
They reverse mortgage their homes to pay for medical care

>>50157841
>As of the census[10] of 2010, there were 1,118 people, 466 households, and 306 families living in the town. The population density was 1,510.8 inhabitants per square mile (583.3/km2). There were 548 housing units at an average density of 740.5 per square mile (285.9/km2). The racial makeup of the town was 97.9% White, 0.6% African American, 0.4% Native American, 0.3% Asian, 0.1% from other races, and 0.7% from two or more races. Hispanic or Latino of any race were 1.3% of the population.

>>50160857
>sounds like a recipe for prices to continue moving higher

yes things will trend a bit higher until the market corrects for low buy volume due to interest rate hikes and then dips low when buy volume disappears. i don't believe there will be a crash like many believe, but the price will dip before the fed intervenes to stabilize and prop up asset prices.

>>50160857
you're just living in a fantasy world
i'm sure you're very proud of your house you bought recently
but prices will be going down
all indicators point to us being at the top

>>50145750
I love my parents and all but boomers are, objectively speaking from a social perspective, the worst generation of western people that have ever existed in recorded history and the funny thing is that it wasn't even entirely their fault

>>50161069
I hope all the boomers sell everything so whining little bitch niggers like you will never have shit because you're to fucking lazy to go work for it. Fucking go kys you god damn oxygen thief mother fucker.

>>50161146
?
My boomer parents have nothing, I take care of them but when I get enough money I'm gone because they should have learned how to take care of themselves
That's the biggest problem with that generation; they never learned how to stand on their own two feet by themselves

>>50144773
>more boomer than other ppl
>boomer sleep in room
>room is in house
>boomer die
>boomer sleeps in ground instead of house
>boomer house available now
>total available house supply increase
>same time demand decrease because boomer is dead
>???
>market

To all the people who are complain ning:
Suck a dick fags. Then ask those who bought 2-3 years back how they are doing. You will learn that they are happy and wont let their success to be challenged

Love how people are always pro self sufficiency until they get fucked. Then they complain bout stuff. Oh no is life unfair ? Oh no where have you been when I was fucked in the ass for years? Oh right you were riding the gravytrain and enjoing life.

Im not gonna ne a victim anymore. Im gonna buy equity options in blackrock and that will fuck you to death. Bit emotional, more sad, hopefully good enough.

>>50144566
Once the recession hits in full swing and triggers mass unemployment

>>50161590
good goy

>>50144952
What the fuck is Indiana and why would anyone live in that hole? No one wants to live there that s why it's cheap.

>>50144566
>affordable again

>>50155857
>>50155964
Back to bartending she goes

>>50157613
>People should only be able to buy one home so we can have shit houses and no chances for generational wealth.
Neck yourself commie faggot

>>50157623
Either too young or too retarded to remember this shit happened in 08 and people lost their entire nest egg

>>50145750
>look at your dad and I, we didn’t have a degree like you did and we turned out just fine

keek fucking boomers

>>50162537
sensible capitalist countries just heavily tax extra homes you are not living in. it's a perfectly reasonable policy

>>50161590
Tiny hat hands wrote this

>>50162576
>Make enough to afford a summer home or extra home to increase capital. Pay asinine tax after already being taxed to death.
Kick out all illegals and end foreign ownership of our land if they don't reciprocate

>>50156189
200k at 8% 30 is a far better deal you retard. You get taxed less, have cheaper insurance, and unless you're working a McJob then you are paying it off in way less than 30 years. Plus an 8% rate is historically high, so you'll likely be able to refi in just a few years at 4%. This isn't even a close competition.

what's stopping me from buying a small piece of land and building my own cuck shed

>>50162914
Building permits…

It's gonna be a while. I really love where I in Washington, but the cost of a non shit house is literally 15x my salary. Just the idea of owning though seems so cozy.

>>50153341
Boomers didn't have massive student debt, retard. A semester of college in boomertimes literally cost $600 at land grant schools. You are right about the trip to Cabo though.

>>50145370
>too many houses to hand down.
not if you're making them out of plywood

>>50145056
you stay and rot in your containment zone cancerous leftist nigger
I hope you get cancer and fail

>>50160722
The avg American makes like 50k or something so I think most people would consider that a lot considering it's 6x the yearly pre-tax salary of probably 100 million people.

when there are too many houses built compared to the people that want to live in them

>>50156448

>bought a nice house 9 years ago for 160k
>ride several bullruns, put part of profits into extra redemptions
>now leaving a remaining debt of 15k for the rest of the 21 years because it gives me tax benefits that nets me more than paying off

My monthly payment is now less than 100€... interest is locked at 1.95% for the remainder of the mortgage. I made some improvements together with my dad and it's now roughly worth 400k.

I haven't made it, but goddamn, sometimes it feels like I have. I lucked out on timing and with crypto. Meanwhile colleagues and friends are rushing to buy +400k houses like fucking idiots. Enjoy your 1400€ payments lmao.

>>50154247
Hi mankosmash

>>50144593
Jokes on you because I'm moving to SEA or Africa or the middle east.

>>50144608
>>50158503
Former leaf here, no, immigrants fuck off immediately after their education.

>>50158754
Yeah and they piss off back home when they have an education.

>>50158520
Good.

>>50159734
>The homes ARE there if you look. Let the immigrants buy the overpriced, sardine-canned, new development hell. Any brick house built in the 80s is superior in every way to a newly built home anyway.
The irony is sooner or later everyone discovers your honey hole and it gets over saturated.

>>50161146
>I hope all the boomers sell everything so whining little bitch niggers like you will never have shit because you're to fucking lazy to go work for it. Fucking go kys you god damn oxygen thief mother fucker
Sounds like projection from a loser in am apartment.

>>50161209
>That's the biggest problem with that generation; they never learned how to stand on their own two feet by themselves
You're texting a boomer who never learned to make more money and save/invest which is why he lashes out at you.

>>50161590
>To all the people who are complain ning:
>Suck a dick fags. Then ask those who bought 2-3 years back how they are doing. You will learn that they are happy and wont let their success to be challenged
Wow you sound like a turd mutt.

>>50161590
>Oh no where have you been when I was fucked in the ass for years? Oh right you were riding the gravytrain and enjoing life.
I'm 24, lmao, Americans and their projection and assumptions are the worst.
You guys are literally retarded.

>>50163464
>$600
Wouldn't even pay for a CDC course in my city.

>>50145056
>Midwest
Fuck off were full.

>>50145750
>She just couldn’t accept it. She just says things like “well, I’m sure house prices will come down soon” or “look at your dad and I, we didn’t have a degree like you did and we turned out just fine”,
Lmao, I'm jumping on a trading vessel and becoming a cabin boy.

>>50162607
>Make enough to afford a summer home or extra home to increase capital. Pay asinine tax after already being taxed to death.
Yes

>>50151284
>Fresno CA.
>>50151284
>Like I said bros, I live in a bad neighborhood that is 50% spic,
Well they've been living there for hundreds of years before whites showed up.

Seethe rentoids. The only places where home values will decrease is jogger infested hellholes.

>>50164394
My mom is exactly the same I guess, it seems hard for older generations to understand that conditions change, even if you present them the facts. They seem to think that the world is static as opposed to in constant flux.

My dad who is smarter, doesn't even himself. He worked without high school degree, starting as a post-boy in the his first company. He ended up being able buy property in the richest neighboorhood in my country (in Scandinavia). Granted, he is a good talker/salesman, but this would most likely would never happen today.

>>50158239
Now show the active listings from 2010-2020. They were well over 30k. There is a long way to go to a bear market in housing.

>>50144593
Boomers will live to 100.
You will be 70 by the time you inherit anything.

>>50164668
Here's the US active listings. We are still less than half of pre-pandemic levels when prices were already increasing. A bear market is a long way off.

>>50154603
> I did and thats how they work (like I said
That guy doesn’t know about bootstrap loans.
>Although I have a retarded sister who got a bootstrap loan for an amount that didn’t reduce pmi.

>>50164806
There won't be a crash just a slight dip or flat depending on where you are, JPow wants to lower rates as soon as he thinks inflation is under control. Rentcels are fucked.

>Home prices across the United States continue to rise, with the entire country seeing an increase of over 1% between April and May this year, according to the National Association of Realtors. It’s even higher in some parts of the country, including the Northeast where prices rose by an incredible 15.4%.

>First-time home buyers locked out
>“If you are a homebuyer, or a young person looking to buy a home, you need a bit of a reset,” Powell said. “We need to get back to a place where supply and demand are back together and where inflation is down low again, and mortgage rates are low again.”

>Institutional investment in housing here to stay
>Meanwhile, institutional fund giants like Blackstone and Brookfield are buying up houses to rent them out at high rates — something that Zandi believes is likely here to stay, even with higher mortgage rates. That’s because these institutions have raised a significant amount of capital in recent years and need ways to deploy it prudently. And investing long-term in real estate is the perfect option.

>>50145056
stay the fuck out

>>50154380
Are you trolling?
>can't have friends over
>can't store supply of food just in case (inb4 kek >prepper)
>if stolen, you lose a home and a car
Also
>going where you want
Good luck looking for good free wifi to work properly. This digitalnomad is a euphemism for bugman.