/biz/ - Business & Finance

>>56429833
DFW area, there was a house up for 550k, I offered 525k, and they wouldn't budge. Now ~5 months later it's down to 500k and been put up for rent (which has also been slashed several times).

>>56429978
Don’t your areas have a section 8 program that props up rental prices?

My city would pay me $3300 for me to rent my house to someone low income. That prevents landlords in my area from slashing rent multiple times because eventually they’d just rent to the city.

>>56430021
Lmao $3300 a month in exchange for niggers making the place completely uninhabitable. That’s why every house in Philly/Baltimore/Detroit/etc. ends up completely destroyed and abandoned. Retard

I left Houston a few years ago. Anything renting for less than $2k/mo either has flood damage or black mold under the paint

>>56429833
Well Houston is one of the largest shit holes in the world so I wouldn’t jump to any conclusions about the wider economy

>>56430039
You wait for Hispanics and the blacks live in government housing. It’s not complicated

>>56430039
You get to choose your section 8 tenant. You can choose a white person with good credit score if you want.

Places like Las Vegas and Austin are gonna get wrecked in the next year or so. Many small streets have one or two homes for sale and lots of communities of new developer builds for sale or not even completed and they have that stupid 3d generated image.

>>56430088
>Well Houston is one of the largest shit holes in the world so I wouldn’t jump to any conclusions about the wider economy

Completely ignores my statement about austin apt dropping price $700.

>>56430021
I think its a race to the bottom tier. The haves and have nots separation is growing. Housing is either a complete shit hole or costs 5k a month.

The government will be the largest landlord/home owner in the US. The gov already employs 20% of the entire work force. I think section 8 will become the norm not the exception. That or they will come up with a new version of it and call it something else.

>>56429833
everything is collapsing. the fucking dollar store is collapsing. no one can find people willing to work for shit pay due to all of the price increases of housing and food and energy.

>>56430099
>>56430104
All the rednecks left Houston proper 20+ years ago. Any government housing is gonna be for niggers and spics

>>56430141
>energy price increases
what did they mean by this?

>>56430150
I don’t live in Houston. In my city, there are definitely white people on section 8 vouchers.

>>56430133
> I think section 8 will become the norm not the exception.

Super based. That’s how Singapore became a world class city. You can buy a government run condo in Singapore for $200k while a privately run condo in Singapore is at least a million.

>>56430150
Government housing isn’t section 8

>>56430133
Austin is a gypsy hipster meme city. Why don’t you also throw in a rent chart of Chattanooga?

>>56430133
Reverse mortgages are going to be the big thing, not section 8

>>56430244
>rent chart of Chattanooga?
congrats you have just learned that realestate prices are entirely a local phenomenon. Did you also know it only takes a couple houses in your neighborhood to sell under market value to drop the value of all other homes in the area? Now leave my thread you are shitting it up with your I am 20 something knowledge. Reverse mortgage does not buy you a house, wtf are you even saying. Just shut the fuck up.

>>56430282
You don’t even know how section 8 works you moron stfu

>>56430224
>Super based. That’s how Singapore became a world class city

Im having a hard time seeing government housing being a good thing. Being aware of future implications we can make money off of it sure, but the wider affect on the economy and its people doesn't seem good.

>>56429833
gregg abbott is forcing illegals to leave and that why prices are going down.

>>56430313
> Im having a hard time seeing government housing being a good thing.

Idk. The concept of being able to live near high paying jobs without giving most of your paycheck to a private landlord sounds like a great thing to me. More money left over for the workers and more income tax for the government.

. Of course the landlords would lose, but most landlords are in a position that they can sell for a massive profit.

>>56430313
>>56430420
Hate to break it to you, but government housing in the US is done through a convoluted scheme where hedge funds put up the money for construction and are given guaranteed return of capital over 10 years in addition to whatever rental income. Then they're stuck in a perpetually refinancing scheme through that program because the project couldn't be funded through local tax dollars

>>56430443
Burgerstan is corrupt and backwards, what else is new?

>>56430420
>private landlord sounds like a great thing to me. More money left over for the workers and more income tax for the government.

oh your a communist, disregard any attention I gave to your posts.

>>56430477
>Burgerstan is corrupt and backwards
corrupt compared to what exactly? The world is filled with corruption and scams. Next you will tell me tether prints fiat dollars to pump the price of btc and btc is a total scam. Santa Claus isn't real by the way.

>>56430570
> your a communist
I’m not a commie. I was referencing the Singapore model which is one of the most capitalist places on earth. Literally the banking capital of Asia.

Less money going to landlords means more money could be going towards innovation or helping society.

TLD SOON

Landlords are the lowest of the low - they provide no service, they demand money in return for 0 work/products, being a landlord is equivalent of being a jew banker with usury. If you can't afford housing - a basic need, why work at all? I would rather starve but see landlords go bankrupt and starve as well.

>>56430663
>Trusting the gov with housing
Ah, I see: a commie and a retard.

>>56430785
Again, how does saying that housing should be like one of the most capitalist places on earth make me a commie?

From a purely capitalist perspective, a house doesn’t produce anything. The government is better off building housing for the people so that the people can invest their money into stocks of companies that do produce stuff.

>>56429833
dont worry
the federal government is happy to print money to give to all these illegeals coming in to rent from blackrock / stone...

>>56429833
Yeah, I, too, am in a shithole known as Denver and we have a very large amount of apartments coming online next year. It might be happening.

>>56429833
I WISH I WERE LAVAR BURTON

>>56429833
Houston is a shithole

>>56431084
It just seems that way because 2008 destroyed the home building industry. New housing starts haven’t gone anywhere near what was being built in 2006

>>56430021
>My city would pay me $3300 for me to rent my house to someone low income
jesus christ we are accelerating

>>56430890
they used to, american government spammed houses for the baby boom. I grew up in one of those.

>>56430141
All it would take would be to tell Boomers and rich fucks to go fuck themselves. But everyone's parents are nice, it's other Boomers that are ruining society! /s

>>56430313
Government housing isn't bad by default. It's a conscious decision to build them cheaply to the specifications of a deranged Frenchman who designed everything with a 6ft tall man as the average, and then to defer maintenance forever. If you assume that 50%+ of your pop is going to be stuck in these places and that if you fuck it up they'll have your head on a tiki torch, you build them to be liveable and keep them that way.

>>56431271
That was a bubble, and also an unsustainable model where builders nickel-and-dimed you every step of the way. We should be going to high-quality multifamily TODs with retail and business space built-in, but if we do SFH at all, it needs to be regional-sourcing-specific kit homes that don't need ridiculous bespoke planning and engineering. Bonus would be spinning up a Construction Corps to provide a steady stream of labor that people will take for a decent-but-below-market wage because of patriotism or whatever (good luck, the contractors would scream bloody murder the same way plumbers did when flushless urinals were introduced).

>>56431924
I understand that 2006 was a bubble, but even the 2021 peak is significantly less home building than the 1970-2006 average

There’s also the problem of housing supply getting removed from small towns dying and duplexes getting turned into single family houses.

I’m not saying rent prices won’t crash. Just that they won’t crash to the historical point of affordability

>>56430224
At all levels of society the people in Singapore are fundamentally different than those in Houston. In the former you are caned for littering.

>>56432067
The 1970-2006 average of children not living at home isn't coming back anytime soon, either. Immigration has come from countries that are used to relying on multi-generational housing. Notably, there are multiple lawsuits in the courts alleging price fixing across the rental market (which should be easy wins because obviously). I don't know if rents will actually go down, but they should.

>>56430367
Win win?

>>56429833
it's all worth $0 at the end of the day.

>>56430733
If landlords didn’t exist how would you rent housing? Everyone would be required to buy, which they can’t, which is why a rental market exists.

>>56432260
Collective owner’s network. You buy in for a fraction of purchasing a home and agree to rules about residency/mortgage share. But as an owner you have more power than as a renter.

>>56431924
>We should be going to high-quality multifamily TODs with retail and business space built-in
fuck off walkable city yuppie faggot

>>56433289
Thanks for the bump.
Also no. I will not stop advocating for the white European standard of living.

>>56430104
>You can choose a white person with good credit score if you want
doubt

>>56434173
I believe in my city there are quite a bit of teachers with kids on housing vouchers. Many of them would be white

>>56430104
a white person with good credit won't be on section 8

>>56430129
They already got wrecked. A few people were stupid enough to panic sell. Now you have some investors selling to dump their cash into T-Bills.

>>56429833
Places that rose the highest are falling the most.

>>56429978
DFW here also. Im seeing houses go up for rent for like a 2 months then put up for sale with weekly price cuts.

>>56429833
Listings are exploding in my area in the south east. I live next one of these listings and the open house no one shoed up. I'm seeing discounts everywhere.

>>56436107
Also want to add, a lot of these listings were bought in the past few years. Some even as early as this year. I think its the investors that got greedy this time. All the people that fell for the BRRR meme are going to be stuck holding the bag this time. I don't think the fed is going to save them because they're not big enough. Remember only the lenders got saved in the 2008 RE crash. Not small time investors taking out the loans.

>>56429833
Too hot in Houston

>>56429833
Someone explain the dynamics of this to me, how does it happen? How does rent go down in a locality, and generally nationwide? Where do all the people who were renting, who created the demand that established/sustained the former prices, go? Everyone's gotta live somewhere and it's not like the population suddenly dropped.

>>56434137

>white European standard of living.
>in a sea of spic goblinoids and niggers

People like you really think they are far smarter than they actually are.

>>56437992
>Where do all the people who were renting, who created the demand that established/sustained the former prices, go?
They just don't move and stay with their parents/partner. Or cohabitate. Or move to somewhere where its cheaper.

>>56437992
More inventory is coming online. Big rental operations are under cutting the small time land lords. Also Air BB was eating up rentals and bow that bubble is popping so the land lords are rushing back to long term rentals.

>>56437992

Supply and demand. If thousands of units come online into a market they have to compete to get tenants.

Also if recession happens there's less money for those expensive apartments.

>>56436042
I'm looking to move to DFW area. How is the market now, are owners and landlords only just waking up to the fact the market is moving against them or are they already in full on panic mode?

>>56430570
>pic rel
millennial people of colours inventing the family

Landlord here, waiting for the show to drop on my tenant. If she moves I might sell