/biz/ - Business & Finance

If I build my house underground will my property tax go up?

>>54741987
You will go to prison since you only own the land your house is built on. (((They))) own everything under your feet.

>>54741971
Prices in my area peaked in 2021 and haven't come down at all, the market has just been flat since then as the transactions seized up.

No way this is true right? Housing prices barely fucking crashed at all. Meanwhile massive layoffs are still happening, Disney for example just recently.

>>54742046

This could either be chewing through support (the recent bump in purchases were more investors and less mortgagees), or we could truly have that little inventory as homebuilding has waned by the year.

>>54742074
If its either of these then the issue is related. Investors shouldn't be allowed to fucking eat up the whole housing market.

HOLY SHIT HOUSEBROS WE'RE SO FUCKIN BACK

>>54742166
Checked. I'm just not gonna lower the price of my second home. I know! Ugh, I know! I'm just not gonna lower it is all. HAHAHAHAHAHAHAHAHAHAH

>>54742046
Nobody who locked a sub 3% mortgage during the pandemic is in any rush to sell. So there will effectively still be a supply shortage despite fed hikes. In fact, there may be a point where the rates get hiked high enough where businesses will struggle to create new inventory which will exacerbate the supply problem. It's not as simple as rate go up housing go down. We tried to tell you this but you refused to listen.

>>54741971
>trusting what banks say
ngmi

Housing starts (housing units constructed) never got back to where we were in 2005 and meanwhile the population grew by 30 million.

>>54743144
Fucking correct.
Look at what's getting built, too.
Bullshit multifamily and crackerbox condos.
Raising interest rates means they CANT build a new 1200sqft townhome for under 160k. This has brought up older ones from 35k to 95k. They still top out at 110k even in better areas.
Housing is fucked forever.

>>54742046
The zesitmate on the place I bought a year ago is up about 10% from when I bought it.

>>54743313
that chart shows is in millions of houses per month dumbass, an average of 1 million houses every month for 18 years is something like 200 million homes were built in that time. most are sitting empty or vacation homes for the ultra rich

>>54741971
Nah the bleeding has only begun. Bottom in 4 to 6 years.

>>54742046
It's not. All these articles are financially backed by certain groups who control certain financial institutes who have are buying up properties

>>54741971
It's not close to bottoming. That's the headline to trap normies

>>54743348
Shit is just switching to a rent model. That's why there was the rush to buy up multifamily. People and entities with money are in a good position, multi-family is already generally cheaper to buy than single family because they are less liquid properties. You want a bank loan to invest in multifamily you need 20-30% of the price, and anything above a duplex is usually still going to be half a million dollars AT LEAST, so you need like $100k in the bank to play in that market. Average single family purchasers aren't holding that kind of money, they've got a $50k down payment saved.

So with housing prices exploding and mortgage rates making it difficult for people to even afford monthly payments, entities and people with the cash to benefit from lower multi-family prices saw an opportunity and decided to buy shit up because they know millenials and zoomers don't have much of a choice, they can't afford a house so they're stuck renting. The multi-family buyers charge a high rent that is still competitive with the costs (down-payment + currently high mortgage payments) of owning a home and the renters grumble and pay it because they don't have an option. Rent growth may slow or stagnate if housing prices were to drop enough, but probably won't actually go down. So ROI will probably just increase steadily over time. It's a good deal for them.

>>54742166
WE ARE SO BACK

>>54743362
that's just inflation. you aren't actually up anything.

>>54743530

Housing market will never crash again. This time its different. ITs the new paradigm.

>>54743539
i'm a rentcuck who wants it to crash, but it probably won't. if banks lower lending standards and give the nigger cattle enough rope to collectively hang themselves with record debt to income ratios, they'll do it. next summer i will capitulate and buy a small shitty house for cheap in my flyover hometown. i'm priced out of the suburbs on my $100k/year poorfag salary.

>>54742046
Rates are coming back down and demand is going back up and you are priced out. Chainlink confirms this.

>>54743384
>Doesn't know how to read the housing starts chart
Why am I surprised anymore? Go back to middle school you literal baby faggot.

>>54743565
You make double the average American salary. Poorfag my ass.

>>54743505
>People and entities with money are in a good position
pack your bags boys, this mans a genius and got it all figured out. we can all go home. congrats

>>54741971
>bottoming in
LMAO. Houses in bumfuck Appalachia are flying off the market in less than a day. Normies are still in bidding wars. Bottoming? LMAO. Kike flippers are getting wrecked, but nothing is bottoming. It's getting worse

Laughin at the tards who won't wait until the end of this winter

>>54744020
Rural areas feel the end of the "whip" last. It's ogre.

>>54743971
the average american is a morbidly obese, low IQ, devastatingly poor piece of nigger shit with less than $500 in savings and who is 1 missed paycheck away from total financial destruction. a 1200-1400 square foot home in a mostly nigger free neighborhood is $350k in my area. with a 20% down payment and with rates at 7% for 30 years, that's
>$1900/mo mortgage
>$500/mo property taxes
>$175/mo property insurance
>$250/mo water/trash/sewer/electric/gas
that's $2.8k/mo. i bring home $5.2k/mo after all taxes, health insurance, and pre-tax retirement contributions. i cannot afford to spend 54% of my take-home income on a 1200-1400 square foot plywood box in an area where property taxes only go up, year after year after year. i'd need a raise to at least $125k/year.

>>54742074
I looked into construction in my poor ass area. $500,000 is the starting point for new constructions

yeah guys this is the bottom
for sure

:D

>>54743565
>$100k a year
>assuming this is pre tax ~$79k post tax
>~$6500 a month
>"im poor and cant afford a house in a flyover"
Literally fucking explain yourself

>>54744097
mortgage payment stays the same while rent goes up
taxes dont go up as fast as rent
guess what
maintence + taxes + mortgage cost is baked into rent
if you plan to live somewhere longer than 5 years its retarded to not buy a house

This is pure copium by the banks. We are going soooo much lower after the REITs go bust.

>>54744097
>>54744097
Your utility cost seems way low desu. Im in Texas (which is admittedly a bit more expensive than the average state for electricity) and my electric bill alone is $300 most months. Add $100 for water. $40 for trash. Shit sucks.

NEW NORMAL
NEW NORMAL
NEW NORMAL
NEW NORMAL

>>54744097
I know the general rule of thumb is spend no more than 25% of your monthly income towards your mortgage/rent or whatever. But i always feel like there has tobe a break off point where this rule of thumb doesnt apply. For example if you are some rich fag bringing in $100k a month, what are you buying with the remaining $75k a month? Just seems like that rule of thumb isnt as applicable there. Im a poor fag rentoid forever though so what do i know.

Im not aiming this at you in particular btw. your post just got me thinking. Like of course you want a safety savings in case something bad happens so you would probably be spread a bit too thin especially since car payments and what not arent factored in. But it seems at least close to doable. I mean $2.4k a month is quite a bit for food and entertainment.

Isn't it just better to rent in a cheap place and invest the rest? My parents home barely did a 3x in like 20 years. Terrible returns.

>>54746721
Yes its better to burn money for 20 years than park your money in an asset that will slowly appreciate over 20 years

>>54741971
The 2008 housing market crash took YEARS to bottom out Morgan Stanley is trying to do damage control

>>54741987
>>54742024
Not if you don't tell them you built anything underground

>>54746721
Depends, if you are diligent about investing (aka not a nigger spending his entire paycheck with a week) it often is the best choice
NYT has a rent Vs mortgage calculator to do the math for you, also don't forget the flexibility of being able to move

>>54746721
There are buy vs. rent calculators out there to check the math on your particular situation and local market. The problem is they rely on assumptions about investment return rate, inflation, etc years into the future that can't really be knowable.

I bought after several months of looking and several offers because I was decently comfortable renting, and only made offers I could afford on places I would love to live in for 10+ years. If you are just buying as an investment then don't buy more than you can afford to lose.

>>54743384
Genuinely imagine being this fucking retarded, it beggars belief.

Renting is only good for mobility. Buying in a low interest rate atmosphere is dumb. Buying outright when mortgage rates are high is the best scenario because you lock in the common interest rate when you buy. A penny saved is a penny earned. Wouldn't it be nice to be earning a guaranteed 7%+ for the next 30 years?

>>54741971
>goes down 3% after rising 50% in the last 4 years
>bottom
I hate jews so much

>>54748915
>Buying outright

yes goy the recession won't be bad it'll just be a moderately uncomfortable recession. please buy now.

Why have we been talking about a recession for like a year now? I swear to god this is the slowest approaching recession ever.

>>54749160
>He isn't saving enough to buy a house in cash

NGMI

>>54749160
Name another investment with guaranteed returns like that. That's over 2% more than the highest rated CDs.

>>54746721
home appreciation is tax free up to 150,000 if you live in it for at least 2 years
the reality is renting is often just as expensive

>>54741971
lol sure it is, foreclosures on bad credit scoring americans havent even begun

>>54749485
>bad credit scoring americans
Hey cool it with your racism.

>>54749384
It'll hit so hard the wait will be worth it.

>>54741987
Who can tell? What's government even doing for us?
Your furniture will probably move around by itself though.

>>54742104
Hey cool it with the antisemitism.

>>54742046
>No way this is true right?
Topkek, thr reality is setting in on the rentoids. See them squirm and panic like pre-teen girls as they're now realizing the crash came and went and left them with depreciating fiat in some collapsing bank that will issue an IOU for not more than 250k FDIC insured savings

>>54741987
Put a little cuckshed on top and the assor will never know.

>>54749485
> A Biden administration rule is set to take effect that will force good-credit home buyers to pay more for their mortgages to subsidize loans to higher-risk borrowers.

keks.

>>54741971
Damn bro. My house went from 1.1m to 1m. I don’t know what to do. I owe 500k on it. I’m a complete mess.

It's funny how they just tell you what the market will be with certainty

>>54742024
not if you own mineral rights you brainlet

>Prices rising outrageously on absolutely everything.
>Still thinks house prices will be the one thing that comes down.
Rentoid delusion syndrome or cope and seethe as you realize you will never be able to afford a home.

>>54741971
bearish headline desu

>>54750410
Literal communism.

I just want a small NEET studio to stay in at this point, for most of the year, ideally all.

I'm willing to move to any country to do this. I will abandon the west for a chance to live free from the rental and mortgage Jew. But where? Everywhere else I look is inflated too, because hedge funds already had the idea to buy up entire rows of streets in places like Portugal, Thailand.

Where can a burnt out person with 100k to at least own SOMETHING? Africa?

>>54742024
You can live in a hot air balloon!

>>54743971
>>54745019

Poor and mad?
>$100k a year
>assuming this is pre tax ~$79k post tax
No.

Did you forget the part he mentions health insurance, and 401k?

I was making 190k and still considered myself BARELY above a poorfag

>>54744097
This guy is right, poorfags hear "HUURRR 100k UR RICHER THAN ME" You still can't afford shit man. Maybe I'm not piss broke but I definitely cannot afford shit

Btw a shitty house near me starts at 900k-1 million.


>>54741971
That's a bait title for normies

>>54750410
The caveat here is that (((banks))) are already fucking people with bad credit scores on mortgage rates, so if anything this evens things out

>>54741971
If Jewish investment firm says that the market is close to bottoming that means we are nowhere near close to bottoming. Real estate will have at least another 30% drop from here

>prices drop for 7 months
>slightly ticks up for 1
>we have hit the bottom

This smells pretty bad.

>>54741971
>Morgan Stanley says we hit bottom
Found the corpo baggie

>>54741971
>The housing market getting more expensive will save us from a recession.

The cope is so unreal. This recession has little to do with houses.

Are we just going to see a flurry of articles like this declaring that we are "back to normal?"

What exactly is going to bring things back to normal when most people are priced out?

>>54750822
two more weeks

>>54750822
People give up buying houses like in Australia. Unless they ban foreign investors like Florida is trying to do.

>>54750822
House flippers getting strung from light posts for one, credit scoring being fixed too

>>54743384
Dumb fucking nigger don’t post here anymore

>>54750878
>>54750898
>>54750860

So maybe I should clarify myself. There was a flurry of housing speculation relying on cheap debt to buy up property. How long can reits, ibuyers, and flippers hold on when the market is frozen and declining for the foreseeable future?

Is everyone assuming rates go back down to 2% in two more weeks? Unless that happens all we're going to see is an extremely low sales volume market with slowly declining prices. And if it goes on long enough the flippers, reits, and ibuyers will face bankruptcy.

>>54751057
Until their cash runs out. How much cash do they have? Fuck if anybody knows

no one tell the doomer fags ITT that the publicly-traded homebuilders are at or near ATH even in this 6% rate environment LMAO

>>54751057
>Is everyone assuming rates go back down to 2% in two more weeks?
As far as I can tell yes, most people I talk to expect rates go back down end of year. That's what most of the people I know are waiting for. But peoples cash is bleeding dry right now with the cost of everything else so who knows what's going to happen.

>>54751162
So home builders are still profitable and building while prices have cooled off or are even going down in some areas? Sounds like a win win.

>>54747387
This it took about 3 years for the housing market to bottom out. Of course high time preference biz, is too retarded to save and wait, they want everything now like niggers they are

>>54751201
Im seeing new construction prices rising in my area. But everything here is going up we have the lowest inventory in the last 10 years here right now.

>>54741971
>buy the dip
no

>>54750652
You can absolutely afford a home with a 100k a year salary in the midwest.

>hurr houses in my area are $1 mil
Sorry you live in a shit hole

>>54743384
Anon, what is it like to live with only half a brain cell?

>>54751215
Yeah, people in the hot housing areas seem to be the loudest.

>>54741971
>housing market about at the bottom

LOL you ain't seen nothin yet

>>54751057
house not going to crash unless market get swamped with foreclosures. There is not the level junk mortgage dept as there was in 2008, unemployment is at least going to need to get past 5% before and real cracks in the price start

>>54742046
Wow it's almost like everyone saying the housing market was going to crash had no explanation to why it was going to

>>54751162
homebuilders are doing the financing themselves so this market is actually great for them, the used market is dead and they can offer lower rates then the banks

>>54742104
It's a lot of faggots in high income areas buying houses in Midwest states also so we have no inventory either. I hate the Antichrist I hate the Antichrist

Prices never stopped going up in my city. The difference is that instead of 40 all cash bids at 20% over asking, it's 20 all cash bids at 10% over asking.

>>54751272
What if it becomes difficult to get financing? The number have cash buyers has been falling in most areas.

>>54751325
This is exactly it. Things slowed down a little in some places. In other places they didn't slow down at all. Nothing crashed or even came close to crashing.

>>54743348
Where do you live? I couldnt get a panhandler to give me his begging corner for 110k around here...

>>54741971
>pumps 5000%
>has little 1-2% dumps over the course of the overall 5000% pump
>finally hits a 5000% pump
>dumps 2.01%
>"that's the dump we've been waiting for folks I think it can go a little further, maybe 2.02%, 2.03% tops."
>*inhale* "buy buy buy!"

So I guess the 1% dump when it pumped 3000% was a bad buy. But the 2.01% dump when it finished the 5000% dump isba great deal? lol

>>54744097
Id have to spend 100% of my take home to afford that. But im a neet now so...

>>54742104
Feminism is part of the reason why homes are more expensive now. You're competing not just with asset management companies, but also with single people, illegal immigrants and dual income couples. All of these lead to upward price pressure in housing

>>54744097
NEETs and larpers on this site will never understand this because they aren’t even in the game they just post demoralization shit. I make a little more than you and am in the same situation. 6 figures really isn’t shit anymore, especially after the inflation in every sector of the last five years. It’s not 1990 anymore where six figures is upper middle class. $100k even in the Midwest is middle class at best. After the government takes 30% or more, you’re not left with a whole lot after expenses. I’m not poor or struggling for money, but I’m sure as fuck not rich and it’s still hard to even save up a down payment.

>drops 0.1%
>"close to bottoming"
is housing the perfect ponzi? Every year America's population goes up by another, what, 10-20%? Every year boomers buy a 5th and 6th and 7th house? It's over

So here's something that's been weighing on my mind for some time. In China, only the chinese are allowed to own property, in Dubai, only UAE citizens are allowed to own property. All others can only lease. So why is it that non-USA entities are allowed to own property in the US?

>>54751416
Idk and removing it would certainly help the average American be able to afford a home again. Not allowing foreign entities to park their money or use our real estate to launder their foreign money for essentially free would free up a ton of real estate. They should also just outlaw investment companies from being able to buy up entire neighborhoods like they were the last three years. Of course, that will likely never happen as it would create downward pressure on housing prices and I’m sure a lot of our politicians are in on the con.

>>54743144
That has nothing to do with what the anon you replied to posted. The OP is about financial "experts" saying the market is "bottoming out"

That's implying it ever fucking stopped pumping

>>54751416
To pomp eeet

>>54751393
No one is claiming you are rich with a 6 figure salary. No one would ever claim that. But to say you cant afford a house in the midwest with a 6 figure salary is laughable
>t.has a house in northern indiana making $90k a year

>>54751416
Greed.

>>54751279
>had no explanation to why it was going to
I thought the fact that the first time buyer affordability index hit ATLs in every western nation would at least budge demand, but apparently that's not a thing.

>>54751057
>Is everyone assuming rates go back down to 2% in two more weeks?
Bond markets are

I have been hearing more about interest-only mortgages. Maybe that's how we'll be buying houses now.

>>54746721
It depends. Is your rent incredibly cheap? Do the benefits outweigh the risks? Homes are equity and a long term investment that comes with the bonus of you being able to make a lot of decisions about your living space. If you don't need the space, and can put up with renting and you'd make more, do it. I'm in a position to sit and build funds/investments.

More importantly, you should buy a house you want to fucking live in and can afford. I know exactly where I want to live, and I'm waiting for one to go on sale while I build investments elsewhere

>>54751393
>I’m not poor or struggling for money
you ARE a govt paypig tho. stop funding wars.

>>54751416
Cool it with the antisemitism

>>54750410
It forces investment home-buyers that make more than 200% the median income in the area to pay more. It's to dissuade landlords and encourage single building ownership.

>>54744097
>>>$500/mo property taxes
Damn Americans are getting raped if this is true. Euros pay less than that for a whole year.

>>54750860
>Median house income hasn't budged
>Housing gonna go on another bullrun

Isn't that the definition of stagflation?

I carry a box of spiders with my in my backpack. Been doing this for several years since I started living ina bad neighborhood. I'm a really nice guy so people think I'm an easy target. Every time a street gang comes up to me while I'm walking to work and back and tries to assault me I stay calm and collected with a smile on my face. Then I throw my box of spiders at them. They get covered in spiders. Some are venomous, some are not, idc. I collect them from my basement where I I let them breed. No weapon in the world is as effective as hundreds of spiders crawling all over a person. The screams those thugs make brings a smile to my face.

>>54746721
>Isn't it just better to rent in a cheap place
>cheap
Where I'm at, rent for a 1bd cuckbox is more than my mortgage, so I'm able to invest even more per month while having 3x the space and a garage.

>>54744097
Pro tip. If you WFH, set your tax residence in a state where theres no state income tax. Then buyand move into a house in a state where there is state income taxes since that usually means property taxes are much cheaper. I'm legally domiciled in Texas and use my mom's address there but live in Idaho where my property taxes are ROCK BOTTOM.

>>54751543
Every time the gov't tries to make housing more affordable, housing gets more expensive. 40 year mortgages, ARMs, and interest-only mortgages will make housing go up 10x in next decade if they actually become common.

>>54751760

What could possibly go wrong?

>>54751764
Its turning us slaves to our debt.

>>54751764

I know it's retarded. They're just making more debt to buy instead of addressing the supply side.

>>54751760
Not sure if you care, but this is technically tax fraud. What matters is where you physically "do the work" for the majority of the year (183 days). If you get audited, they can pull your credit card records to see where you actually spend your money. Be careful, hermano.

>>54751760
>How to get audited 101

>>54751569
No it isn’t. It is to subsidize nigger housing and you know it.
> you WILL help Jamal get a loan
> The bank WILL foreclose
> the bank WILL make more money refinancing

>>54743144
The layoffs should get you faggots to sell

>>54751604
Euros "owning" a house is laughable compared to Americans.

Fake snd gay. Just like this country

>>54751635
No. Population increases while # of houses doesn’t increase proportionally means house prices go up regardless of median income. People can get financing.

>>54743144
Rates that low are anti semitic . Imagine thinking you’ll keep it. Ukraine is almost out of ammo and that money needs to come from somewhere

>>54751760
I do this, but I actually live in the tax-free state that I claim to. Don't try to fuck with ZOG, they'll getcha.

Not being taxed here is heaven compared to NY. And I made sure to do it right so NY doesn't come after me either:
>Rent apartment for at least 1 year
>Driver's license
>Library card
>Car registration, insurance
>Gym, pool membership
>Doctor

I passed through NY State recently with my new license plates from my lower cost state. They had the audacity to send me a toll bill in the mail, all the way back to my tax-free, toll-road-less state. I laughed and threw it in the trash. One of the few times you can actually fuck with ZOG. What are they gonna do? Suspend my license? BWAHAHAHAHAHA

>>54751416
In China real estate is like the only asset the average Chinese citizen can invest in and expect stability and it accounts for like 30% of the Chinese economy and hasn’t gone through a boom and bust cycle for its entire modern existence. China’s policy is basically existential at this point since if foreigners were able to speculate on Chinese property the Chinese real estate bubble would fucking pop and leave 0 survivors. You know about those big ghost cities in China? They are actually a fundamental part of the Chinese economy and Chinese people will literally pay decades worth of yearly salaries or go 100,000s of dollars into debt to buy an unfinished apartment they think they can sell 15 years down the line for a profit, which thanks to the magic of CCP economic policy they usually could.

Also foreigners can own property in UAE, it’s literally the business model of Dubai.

>>54752244
https://www.investopedia.com/articles/economics/08/stagflation.asp

From what I'm reading, supply shocks constitute a criteria for stagflation, not necessarily monetary inflation or unemployment levels alone

I just want the entire thing to fucking implode at this point.

Bring on the Great Depression 2.0.

>>54751290
They're building like crazy by me. All kinds of homes. Like you said they offer special financing and also cut out the realtors.

>>54744097
You need to factor in maintenance on that poorly constructed plywood box. I use 3% of sale price as a good estimate, so approximately $875 per month. I know this sounds really high but when you break down just a new AC, a new roof etc out over their lifespans it is in fact not.

>>54741971
>>54742046
>>54742074
>>54742166
>>54742227
>>54743144
>>54743313
>>54743348
>>54743362
>>54743505
>>54743539
>>54743565
>>54743583
>>54746976
>>54750385
>>54750441
>>54750860
>>54751279
>>54751296
Good Luck,

Mike

>>54752346
Yes ignore that retard. Stagflation in the 70s started from unironic jew wars making Egypt close off oil supply into the west. Your government is doing the same thing to your own citizery right now, just via mass migration.

No first time buying couple wants or has the means to buy at these prices. Boomers and the gov are just saying "fuck you, not my problem" and cranking the migration dial to 13

>>54752466
Meds

>>54752474
>top buying baggie
If you're extra nice to me I'll bid on your foreclosure for -94% instead of the -98% everyone else is offering

>>54752474
NTA but the stagflation example does include the 6 day war's effect on oil as a staglation supply shock explanation, kek.

>>54752498
Lol. Lmao.
Meds now

>>54751057
this

Im seeing houses in a big city (dont talk to me about your trash tier 40k population little village)
sit on market for hundreds of days, with continuous price markdowns,

>1.4m
>1.3m
>1.2m
>1.1m
>Days on Market 297

Yeah bro no one is buying shit right now. no one can afford a mortgage with rates and job insecurity, when they could barely afford one two years ago.

I wonder how many houses will foreclosed and how many of the big flipper / renters start losing too much when people dont buy their shit

It will be a slow slow bleed. But You can see it already happening.

>>54751272
They're not selling off foreclosures to the public like 2008.

>>54751223
Wait so you mean salary is relative to cost of living?? And not an absolute number to throw around like "you make 100k youre rich stfu" ?

>>54752562

what percentage of mortgages are interest only?

>>54752498
Are you a property management company, hedge fund, or a bank? Of not, you aren't bidding on shit.

>>54752447
You are not spending $10500 a year on maintenance fag.

>>54752585
The guy fucking said he lived in a shitty flyover. $100k salary is absolutely a good salary in a flyover. Btw never said he was rich but firmly middle class and should be able to afford a home.

>>54751416
Because you aren't a nation. You're an economic zone for investors to get rich off your poorfag labor. And no one gives a fuck if they are domestic or foreign investors, you're just a poorfag serf either way.

>>54752647
if it is no construction the early years will be cheeper but if it is existing inventory, and you are not buying in the midwest yes you likely will be. Here in Florida a new roof on a 2/2 will run you 30k, new AC minimum 7k with install, basic impact windows can start 400+ each...

>>54752674
we must drive the merchants from out temples

>>54752451
The rise from 2009 to present was a result of QE and next to zero interest rates. There won't be a boom cycle after this one (at least in the west), as there's no national unity and productivity for the 80% brown youth to pump anything up. Only thing about that chart that's off is that the support of the rising wedge will break kek

>>54752647
Nobody who breathes through their nose would, but never underestimate the masses chasing "good deals" that all skipped an inspection and "had" to remodel the kitchen as soon as they moved in.

>>54752671
I live in flyover and $100k still isn't shit. House prices here are in the $300k range. Boomers are absolutely out of control, they see California prices and think their house in rural Nebraska must be worth the same like houses are fucking trading cards or something.
Anything reasonably priced (120k) is a 100 year old dilapidated shack that is literally decaying.

>>54752715
>30k for a roof

>>54741971

purchasing power has taken a huge hit.

about 16 months ago a family making $400k could afford about $1.65m loan for $10k/mo... so pair that with a good down payment and you were looking at $2m+ houses.

today a family making $400k is looking at a $1.2m loan for the same $10k/mo.. so more like a house in the $1.5-ish range.

people can list their homes for whatever they want and people with fresh loans in the past 12-24 months aren't struggling with their mortgages (as long as they don't lose their jobs) but, in practical terms (you can list your home for whatever you want and you never know) they are probably underwater.

tldr: people at low/mid range still scraping for pennies in their couches to afford anything. high range is VERY soft.

>>54752863
>has a better price-income ratio than any generation
>has a better interest rate than any generation
>still complains that he doesn't have enough

Millennials are even more entitled than Boomers.

>>54752899
High rates disproportionately affect expensive housing.

>>54741971
Ventura County here
>Dec 2020: +50% YoY
>Dec 2021: +20% YoY
>Dec 2022: +10% YoY
>bottom
aight

>>54749384
It'll start January 21, 2025

>>54751416
>Buy a bunch of shit overseas
>Sell real estate to Chang Vanishnakapootra as collateral
It's that simple

>>54752863
100k salary very comfortably can afford a 300k house retard

>>54752988
Yes you can very comfortably afford your 40 year mortgage and get raped by interest until you die.

>>54741971
listing price isnt everything, remember that at peak retardation people were buying shit like 10% over asking price sight unseen with no inspections, now people are able to haggle down prices a fair bit below ask and aren't skipping inspections

its still not the bottom though

>>54753035
Ya I live alone in a $275k house making $50 an hour, you're just a faggot

>>54752674
>You're an economic zone for investors to get rich off your poorfag labor. And no one gives a fuck if they are domestic or foreign investors, you're just a poorfag serf either way.
But enough about China.

>>54752916

You are a retard

>>54752451
>the next bottom will be early 2021 prices
Is this supposed to be bearish for real estate?

>>54753035
100k salary is roughly 6k/mo net after taxes.

Assume 20% down and a 240k mortgage. At 6.5% the payment is 1517/mo.

Budget 1000/mo in living expenses (food, transportation, utilities, entertainment, clothes).

You have 3500/mo extra to invest. If you put it towards your mortgage, then it's paid off in 4.5 years. Probably closer to 5 years with prop tax + insurance.

>>54753170
>will be early 2021 prices
Probably 2019 prices.
-Mike

>>54753149
Nowhere on that chart has a home price ratio below 4-1, this retard complains about his home price ratio being 3-1.

Boomers had to borrow above 7%, Millennials never saw a rate below 5% in their life until this year, even getting sub-3% rates in 2021.

>>54753176
A little rosy, but close enough. Nebraska anon is confirmed a retard with a $110k truck payment

>t. $95k, $275k house at 5%, 15% down

>>54753261

Just stop it's clear that you don't know what you are talking about.

>>54746721
Rent is significantly more expensive than paying for utilities and property taxes, well, assuming your house is relatively new and doesn't need serious maintenance.

>>54743348
>crackerbox condos
Is... is that raysism benchot?

>>54748915
>Buying in a low interest rate atmosphere is dumb
Not when inflation is evaporating 10% of your savings per 12 months

>>54741971
It takes 2-4 years for housing to bottom, this is just a big fucking cope

>>54753281
what is wrong with what he is saying?

>>54753448
It's an even bigger cope when you consider that it hasn't even fucking gone down hardly anywhere. The people who write these articles are adrenaline fuelled dopamine addicts who are used to seeing their zestimate numbers constantly mooning and think stagnation = lowering.

Where have I seen this before?

>>54753448
It's been 2 years

>>54744097
Based

>>54754347
The last 2 years were a never ending pump for housing, the dump hasnt even started

>>54752229
What? Its the other way around retard, you pay so much taxes you can hardly call it "owning" you lease it from your government, you pay as much taxes as some other in europe for their mortage lmao

>>54754634
Yes it has, it's almost over.

>>54754634
Houses started dumping November 2021 when bitcoin and stocks crashed with the interest rate hikes. It's been 1 year and 5 months. We only have 7-17 months to go

>>54751416
>in Dubai, only UAE citizens are allowed to own property.
Wut? I can't buy shit here because Russian money launderer mafias have been hoarding real estate here ever since they ran away from Putler's draft last year.

>>54751162
>lmao home builders are building homes and it's MORE than ever! Take THAT rentold!!!

>>54752634
It's just the bag changing hands lmao. They take what's offered or they go the fuck under

>>54750563
South Africa

>>54741971
I really hope this "bottom" is only a plateau before the next leg down.

>>54741971
>housing market about at the bottom
>and that's a good thing, here's why...

Housing market is finished. Thread full of cope and bait. Wagies cannot afford to get onto the ladder. Population psyoped to by houses during the pandemic. Most people overleveraged. America forcing White men to buy houses for dirty niggers who will be foreclosed on. Low to mid priced homes will crash in value. In fact the whole market is going to take a huge haircut. Back to normal lmao? It's ogre.

>>54755270
Maybe, or they'll extend loans out to 40-50 years and do federal credits. Might as well call it what it is, indentured servitude in exchange for a place to live. I wouldn't put it past them to kick the can down the road.

>>54751416
To fix housing you need to force foreign investors and companies to sell and force land lords to only be allowed to rent so many properties especially in high demand areas , none of this will happen unless a war breaks out or something

>>54755347
>40-50 year mortgage products hit the market
>nigger cattle instantly bid up prices to the extent that all monthly cost savings evaporate
you can't fix a society of mentally retarded debtcattle niggerslaves.

>>54755361
Didn't say it would be good. Just dont be surprised when they kick the can for another 12 years.

>>54755347
>>54755361
No such product exists. No such product will exist as exposes financial institutions to significant risk. People can't afford fries with their McDick's apparently. It's ogre. The music has stopped. Most hoomers are at the peaceful point where they have been smashed into by a truck and are flying through their car windscreen just before they hit the ground. Eye of the storm. I would be surprised if the whole thing doesn't collapse before the 2024 elections. They'll probably be rigged like last time so a market crash will have no impact on the result.

>>54755432
Back to pol, retard.

>>54755502

The economy and politics are intertwined you absolute fucking faggot.

>>54755432
With a stroke of a pin they'll make it a FHA/VA loan product backed by the government. Dont worry, the government will come to the rescue in the worst way possible.

>>54741971
The solution is sharing apartments with a bro, so half the demand would drive the prices down. Additionaly save the half rent you arent paykng to buy a house if you want.

>>54753261
As far as the rate thing is concerned, i thought it was evened out by how fucking cheap housing and everything else was back then. But yeah otherwise i agree there is no reason that anon cant afford a house making 100k a year

>>54741971
If anyone believes these lies they deserve to not make it

>>54755355
If a war breaks out then so many people will be dead that housing prices should come down anyways right?

>>54755361
I thought debtmaxxing was based though

>>54755432
Good chance Dems do win the election since the GOP is full of fucking retards and keep pushing unelectable dopes.

>>54756023
Government has been letting banks fail why wouldnt they let the housing market take a dump?

>>54751473
There’s a difference between somewhere people actually want to live in the Midwest and northern Indiana you fucking yokel. No shit I could move bumfuck Iowa and buy a house.

>>54753176
You are so fucking retarded lol. Assuming 20% down? It would take that anon 2+ years to save 50k in cash. And they would need more than that to still be comfortable after putting the money down for other life costs. And that’s not even discussing the fact that a $240k house in the majority of the country, even the Midwest, is a total piece of shit. You should have used the median house price, which is somewhere around $350k, so now anon has to save $70k+ to afford the down payment, otherwise his monthly payment goes through the roof. Even on a 100k salary, it would take quite awhile to save up 50-70k for the down payment alone. You people that reduce things down to “simple” math like this are always so fucking retarded.

>>54756273
>Government has been letting banks fail why wouldnt they let the housing market take a dump?
How would they even go about “backstopping” the residential real estate market? They obviously have no problem raising rates.

>>54742046
It’s copium from people heavily invested. They think if they can convince the tubes the market has bottomed that they will start buying again, even though over 50% of homeowners have a rate we will never see again

>>54754337
>>54752925(Megamind)

>>54756983
Just buy now, that to with crypto it's more efficient cause I can get a cash back upto 1.5% on all transactions. Imagine buying a house and get a cash back.

>>54741971
banks publicly in shambles and still sayin shit like this lmao

can't even afford the captcha solvers they need

oh thank goodness it's bottomed, I was worried about losing another 3% off the value of my house after it's value went up 150% in 3 years lmao rentoids are fucked forever.

>>54757278
"dog hair$ are value please demand what only my bank gets to print out for free and pleasee think that you will collect rent with no risk if you do" kek

>>54756138
>>54756138
>As far as the rate thing is concerned, i thought it was evened out by how fucking cheap housing and everything else was back then
it did. not only that, but you could save and get decent return on your savings with zero risk

>>54753075
based, nearly the exact same figures here. I even saved up the 20% down with my best income year at that time being 70k. people are just shit with their money

>>54757452
Like people who take loans out to buy overpriced houses when solar, starlink, dissatisfaction with public school/institutions, local community, other forms of money, and resulting snowball effect makes the cartel monopoly on land delegation unprofitable now GameStop

hehe

>>54743144
They'll be forced to when the bank is combing through their finances and finds out they've been renting out their "forever home" lol

>>54756280
Except they were replying to someone who said they lived in a flyover you dumb fuck. Also Northen Indiana is actually quite nice.

>>54757278
Instead of paying rents it's best to take a loan and purchase a house. I have saved up well soon I'll buy a house in crypto with Arms and McGregors.

>>54756354
>100k salary
>"it takes 2 years to save 50k"

lul

>>54746463
Wow, it's honestly bizarre seeing a bill that's more expensive in Texas than New York. For example, my property taxes are over 10k

>>54741971
The 2008 collapse was a total one off event. Had never happened and will never happen again. Housing prices flat to down a few percent year over year is the muggiest decline you could have hoped for. Especially with inflation raging. The price of houses flat year over year with the cost of many inputs doubling in cost IS basically a crash.

Sure a house that peaked at 500k with 3% mortgages being down to 475 @8% doesn’t seem like a dip worth buying but once you consider the fact that building that same house would cost 750k today all cash you start to realize you should be buying almost literally anything that you can afford or be further priced out on both the front and back end with prices going up and you failing to build equity by continuing to rent. Maybe a triple whammy if you are holding cash cause you are also losing to inflation.

I waited way too long to buy. Could have bought in 11 but I went sure I’d stay in the area, was going to buy in 16 but felt things would cool off. Finally bought in 20 and the house I could have bought in 11 for 235 I bought for 380 and is now worth 480 with an estimated replacement cost of over 700.

Not buying a house, any livable house, as soon as you can afford to in life is a grave mistake.

Buy a fucking house.

>>54758023
I can't even save a single k in two years
Eastern EU is hell

>>54757278
Yes but everyone is kind of fucked in reality, one way or another. If every single other property shot up 150% then the equity on your home is that much more worthless. Good luck scraping up enough funds to buy a second home when you get tired of living in yours.

>>54758070
I can feel your pain, I have been in tye same situation trust me dyor and start investing in crypto tge returns are alot better, plus the market is going to get better soon, so just buy some alts and few has staking options too. Once the bullrun begins you will be made. I invested 10k before the last bullrun I made 150k during the bullrun. That's 15x which is not possible in real world investments. This cycle I am buying a few alts and I'm sure I will make it and buy a house for sure.
Will buy a house in crypto with Your Place in Dubai

>>54758050
Kek my electricity "delivery surcharge" in Texas is more than your entire electric bill ($80)

>>54751290
>then

>>54758050
Add a zero to that bill and call it a cheap month and then welcome to my life in a 5000sqft house.

seems to me we're in the valley in between a double top

>>54758231
Texas i assume? A cheap month for me is probably $275 but thats like barely using AC and my cuckshed is only 2700sqft. Usually its closer to $350. Last summer had a bill right above $500, i was fucking seething.
>those summer emails begging to not use your AC
Fuck you reliant.

>>54754347
>>54754734
It's only been 6 months.
>>54754694
Incorrect
-Mike

>>54758050
Texas taxes the shit out of property. Louisiana is dirt cheap.

>>54758057
Every recession has been a one off with its own problems. This time will be no different.