/biz/ - Business & Finance

>>51612528

Does it? They told me housing goes up forever.

>>51612532
it does

>>51612553

Based

>>51612528
yes. pic related is an indexed measure of monthly mortgage payments, from the mortgage bankers association. guess the pattern.

https://newslink.mba.org/mba-newslinks/2022/september/mba-newslink-friday-sept-23-2022/mba-august-homebuyer-affordability-up-3rd-straight-month/

>>51612553
Based.
Rentoids btfo

>>51612553
hey retard try overlaying the trend in mortgage rates for that same timespan. now calculate the average monthly mortgage obligation relative to the average or median household income for homeowners, and divide the two . hint: it will look like >>51612678

>Massive under building since 2008
>Building a house is now one gazillion % more expensive
>Rents high
>Every millennial planning to buy the “bottom”

Delusional to think it’s crashing. It will not even fall noticeably.

>>51612697
>>51612553
credit markets have been engineered such that the average wageslave can easily take out a loan equal to decades of post-tax earnings. this (routinely) allows for situations where brutally unsophisticated retards get into highly-leveraged positions that would otherwise not exist. these same drooling nigger retards conflate massive amounts of debt on an asset that long-run average barely outpaces inflation (3.0 to 3.5% national average) with some sort of deliberate and masterful act of financial genius. have fun, you're going to be six figures underwater soon enough.

>>51612750
>mortgage rates up 4% this year alone
>more hikes to come
4% more interest would've priced me out of the house i bought. It'll kill markets

>>51612553
Not according to that chart.

>>51612528
It doesn't matter what you think if the housing market needs a correction.
The FED thinks housing should go through a painful correction.

Towards the end of the republic but before Caesar there were the gracchus brothers. Grandsons of Scipio africanus the legendary general who defeated Hannibal and destroyed Carthage leading to Rome becoming the sole super power of the Mediterranean. In victory, Rome changed for the worse. With no one to truly oppose them Rome became a looting operation and the loot was not shared with the lower classes. The aristocrats instead took the fruits of empire and through straw buyers (it was illegal to own more than 500 acres of land) they bought up all the land in Italy. Now a Roman citizen, even a legionary was reduced to landlessness and rent. Compounding this hundreds of thousands of slaves were brought to Rome to displace Roman workers from their jobs. Homeless and unemployed the only thing stopping rebellion was bread and circuses. It got so bad that the legions began to have trouble recruiting men. They had no hearth and home to fight for.

So the gracchus brothers proposed mild land reforms to stop the problem at its root. The elder proposed enforcing the law and confiscating some aristocratic land to be given to veteran legionnaires. The senate beat him to death with clubs and furniture. Years later a foreign king died and willed his wealth to Rome. The younger gracchus proposed an even milder solution. Use this wealth to buy some of the aristocrats land so the people could own and farm on it. The senate once again beat him to death with clubs.

Does this sound familiar? Land price is going to continue to go up and continue to be concentrated in fewer hands. Caesar comes later.

>>51612848

It won't crash anon. Its going to the moon.

>>51612874
We should go around a tell boomers to keep buying housing on this lie just so the correction is even more painful.

>>51612898
youre a moron. It feels good knowing youll never make it

>>51612913
Please use all your current home equity and use it to buy 2 home with 6% interest.

>>51612898

well the boomers are telling me housing never crash and go up forever.

>home affordability the worst it has been in history
>people saying it's going up

I think boomers and Zestimate roasties have over leveraged themselves so much that it's terrifying that the market could correct so they come on here and shout at anyone who suggests that it will happen.

>>51613079

Well they told me it wouldn't crash and it would go up forever due to over population.

>>51613166
There is excess of dollars and shortage of housing
Simple as

It's like if the captain of the Titanic announced that the ship may be in need of repairs as it's splitting in half.

>>51613759

There was about a year ago.

>>51612848
This and only this

>>51613759
yea?

CASH BASTARDS
will be picking up cheapies in
2024...stocks, real estate, collectables, vehicles.

CASH BASTARDS WIN !

>>51612553
This is distorted by regional super prices.
Ask someone in Detroit if prices always go up, or parts of the south, or the midwest

>>51614343

wow almost the same as 2008.... fuck.

>>51614513

That's the crazy part, even prices in the midwest and south have been going nuts. Maybe more demand in flyovers due to WFH and people no longer being tied to major population centers. My house is Arkansas is worth nearly 2x what I bought it for in 2018.

>>51612528
you fucking reckon?