/biz/ - Business & Finance

[Anonymous No.12758407]

Why aren't millennials buying houses anymore?

[Anonymous No.12758423]

>>12758407
Because boomers and the federal reserve.

[Anonymous No.12758456]

why is communist OP making this thread every day

[Anonymous No.12758466]

Enough with these dumb posts everyday. Everyone already know why

[Anonymous No.12758476]

>>12758407

>buying boomer bags

lmao

[Anonymous No.12758533]

>>12758407

https://komonews.com/news/local/number-of-seattle-homes-for-sale-increasing-dramatically-report-finds

[Anonymous No.12758551]

>>12758533
What does this mean? Are boomers finally relenting?

[Anonymous No.12758575]

>>12758551

My guess is that people got frantic. One thing crypto taught me is what a buying frenzy looks like, and how to not get caught up in it. Houses looked like good investments, so they bought based on some imaginary future value. Don't forget, mortgage rates 2 years ago were nearly at all time lows.

Now that property taxes are going up significantly (thanks Seattle city council), mortgage rates are up, and renters are harder to find, people are starting to feel the pain. Some people might want to exit now before the real exodus this summer.

Just check Redfin for apartments in Seattle proper. It's amazing how affordable it is for a "major" West Coast city.

[Anonymous No.12758593]

Millennial are more educated than other generations so they have to live in coastal cities to get a job more often than not. Housing in these places is such an expense that they're left renting. It's a pretty bad situation and I don't see it getting much better. More jobs are going to be clustered in places like NYC and San Francisco. It's a pretty bad situation. There are places that you can have a much better quality of life.

[Anonymous No.12758841]

>>12758407
>~$2 million for a small cuck shack

[Anonymous No.12758859]

Happens when you turn an American city into some kind of international hub for all sorts of chinks, cucks and gooks to compete in

[Anonymous No.12758864]

>>12758859

[Anonymous No.12758866]

Because boomers are selling the houses (and the nation) to the chinks

[Anonymous No.12758886]

Because they're a bad investment and they're a bad investment because their prices are being manipulated by the government instead of rising and falling organically as they would if left to market forces, now it's gotten so bad with this artificial inflation that we literally couldn't go back without there being blood in the street.

[Anonymous No.12758906]

>>12758864
LM AO
M
A
O

[Anonymous No.12758936]

>>12758407
>>12758423
>>12758866
The capitulation after the pension bubble bursts is going to be devestating for their generation, it's what keeps me going. 5 years from now I am going to buy some boomer's cherished classic car for dirt cheap and then proceed to get it vinyl wrapped with my favorite anime waifus and send him a picture of me dabbing next to it.

[Anonymous No.12758947]

>>12758407
Because boomers opened the door to foreigners which has lowered wages and increased demand for housing (and made it more expensive). In addition to facilitating feminism which has pushed women into the workforce (lowering wages) and destroying the family (lowering demand from natives for housing because single people can get by with small apartments or sharehouses).

>>12758456
I think the answer he wants is "because the 1% aren't paying their fair share". This is my biggest gripe with communists. They make some good points about the rich exploiting the working class but they crap all over their good points with their low iq retarded advocacy for mass immigration from shitholes and gender equality bs.

[Anonymous No.12758948]

>>12758936
How does the pension bubble burst?
Inflation?

[Anonymous No.12758951]

>>12758593
when you say millenials are more education you should qualify that by saying in the sense that have more paper credentials but the overall quality of instruction has gone down substantially. how much of that education is in STEM?

[Anonymous No.12758995]

>>12758948
Obviously it doesn't. Printing more money is the solution to this whole mess.

[Anonymous No.12759040]

>>12758948
When enough collect it at once. That's how ponzi schemes fail.

[Anonymous No.12759192]

>>12758947
Fuckin' A.
Best post I've read all day.

[Anonymous No.12759206]

>>12758947
>This is my biggest gripe with communists. They make some good points about the rich exploiting the working class but they crap all over their good points with their low iq retarded advocacy for mass immigration from shitholes and gender equality bs.
If you think libdems and commies are the same people you are mistaken.

[Anonymous No.12759218]

>>12758947
The main thing communists don't understand is that they need nationalism (volk).

[Anonymous No.12759236]

>>12759206
>i'm not like the other girls
literal same people, with irrelevant details switched. anyone basing their political opinions on a need to define their own identity inevitably comes to the wrong conclusion, and their input makes society shittier

[Anonymous No.12759338]

>>12758407
>>12758864
At what point do people realize that there is no way in hell these shit shacks are worth even 10% of this?

Who in their right mind would want to live in San Francisco anyway, even if it was dirt cheap to do so? They are swimming in used needles, hobo shit, and hordes of junkies and homeless.

Seriously, just move a state or two over and pay a fraction of the cost of living and have a better quality of life altogether.

[Anonymous No.12759363]

>>12759338
A lot of the west coast real estate prices are Chinese people offshoring their money to keep it away from China's government. For their sake I want it to crash. It's a real scummy thing to avoid paying taxes in the country that made you wealthy. It's double scummy to ruin another country's housing market.

[Anonymous No.12759401]

>>12759363
Completely besides the point, SOMEBODY is living in these shit shacks, even these ones owned by rich foreigners, and their rent cost reflects these ludicrous housing prices.

What I said goes for both the owners and the tenants.

[Anonymous No.12759884]

>>12758936
No, even better, instead of dabbing do the Fortnite dance. You'll be able to hear his aorta snapping from your home the moment he sees it.

[Anonymous No.12760389]

>>12758951
>in the sense that have more paper credentials but the overall quality of instruction has gone down substantially
Yep. Happened here in Australia when our Communist Party (ironically spelt the American way) open the flood gates to everyone.
This meant the value of the degree went down, plus universities saw $$$ to be made.
Then our Conservatives got in, and instead of fixing it they shat the bed and CUT funding to universities to give to business.
So uni's doubled down on taking everyone in, especially Internationals students because they pay up front.

And here we are. If you study at university in Australia you are a cuck and deserve to be unemployed.

[Anonymous No.12760396]

>>12759363
>t's a real scummy thing to avoid paying taxes in the country that made you wealthy. It's double scummy to ruin another country's housing market.
lol Capitalism my friend, it's just business why so mad? Literally nothing, NOTHING, stopping you from being rich.

[Anonymous No.12760414]

>>12758407
That tiny piece of shit house for 2 million? Yeah, we are at the top.

[Anonymous No.12760432]

Can we start ostracizing anyone on /biz/ who calls the Chinese "chinks". We do not have to resort to calling these people racist names. It's something that has been bothering me to no end.

[Anonymous No.12760444]

>>12760432
I agree, I suggest you make a Racism free thread and then you should only post inside there.

[Anonymous No.12760450]

>>12760432
Okay sure thing Chang Gook Nippy Slant Eyed Rice Nigger :)

[Anonymous No.12760457]

>>12760432
fuckin chink detected.

[Anonymous No.12760458]

Boomers
Universal Basic Income is now a must for the future. If it is not implemented the job loss and poverty will destroy the world.
92% of jobs created now are temp jobs with no benefits.
Let that sink in for the future. Jobs with no benefits, no way to save for retirement or housing, no social security since boomers took it all.
Let it sink the fuck in to never ever vote for another boomer, not hillary, not trump, not biden.

[Anonymous No.12760499]

any anons have advice on things to look out for when buying a house?

[Anonymous No.12760511]

>>12758864
400k is alot of fuckin money for that. you can get decent appartments in berlin for 250k. the house looks more loke 80k to me. 4 million is BC that great of a place ?

[Anonymous No.12760528]

>>12760458
Universal Basic Income will just increase the value of the homes that already exist.
Boomers still come out ahead.
Stop believing everything you read on twitter and reddit.

[Anonymous No.12760566]

>>12760458
UBI will help with nothing. You need a purge, eugenics program and social reset.
But instead you are getting serfdom and insect paste for food.

[Anonymous No.12760576]

>>12760511
Do you like smug s0iiipeople? If yes, then it's awesome.

[Anonymous No.12760581]

>>12758407

Why bother buying now
>pension funds are gone
>boomers are going to be forced out of their homes because of their crippling debt
>cheap houses everywhere

It's better to live in squalor for a little while longer while accumulating assets that appreciate during a market crash. Instead of buying 1 home, I intend to buy several.

QE4 is coming, soon.

[Anonymous No.12760595]

>>12758936
Fucking keked so hard I almost shit myself

[Anonymous No.12760619]

>>12760581
>assets that appreciate during a market crash
what like?

[Anonymous No.12760624]

>>12760619
Cash. Inverse ETFs. Probably gold, maybe crypto.

[Anonymous No.12760685]

>>12760619

Right now, silver. Fuck ETFs, stocks and other paper assets.

Crypto is likely going to be big too, but it's a more nuanced problem:
>the interfaces are still hard to use for common people
>it's not widely accepted as valuable and a valid payment method
>it's new and unknown with unknown risks
>but people still want electronic payments even if the banks collapse, so there's a strong use-case

The problem with crypto is that it's unfamiliar as a store of value to most people, but it also has the best use-case and utility. So while I believe crypto will appreciate over time, will it really do so during a crash at this point in time? People looking for safety during this crash are more likely to get into metals first, primarily silver as it's the most undervalued metal right now.

So in short:
>metals, especially silver, will drastically appreciate during the crash
>certain crypto currencies, such as BTC/LTC, will very likely appreciate during a crash if the appropriate infrastructure has been set up at that time, which currently isn't the case yet

Silver is your safest bet right now. It's literally valued so low that the mines are closing down left and right, which means the supply will dwindle and prices go up naturally. There's also a lot of silver on the market that only exists on paper. If that collapses you're looking at a huge spike in value, like 300x easily, but that requires the collapse of the financial system.

[Anonymous No.12760702]

>>12758947
>obvious concern trolling followed by the inevitable "dat's not wewwy wut commewnists beweave!" post

The only good thing about communism is that it's guaranteed to absolutely economically destroy whatever country it touches turning it into an economic toxic waste dump no one would want to immigrate to to begin with.

Imagine unironically clamoring to have the same people that run the Department of Motor Vehicles micromanage your entire economy because you as an individual were retarded enough to spend six figures on an impractical worthless degree, and instead of blaming the organization tithing you $500+ a month for the rest of your life or yourself for being a retard as is appropriate you blame the faceless "system" and you personally lead the charge in handing even more power over to the very same people whose ignorant short-sighted policies and anti-competetive regulations jacked the prices of education, healthcare, rent and real estate sky high to begin with.

YIKES

[Anonymous No.12760723]

>>12760458
>92% of jobs created now are temp jobs with no benefits.
Works for Boomers.
>Let that sink in for the future. Jobs with no benefits, no way to save for retirement or housing, no social security since boomers took it all.
So what? Work harder.

[Anonymous No.12760737]

>>12760702
>live in eastern euro
>no student debts or debts of any kind, prefer to save and live frugally, live with parents half the time
>tfw impractical degree which will give me average wage at best in my poor country
Wish I could get US wages.

[Anonymous No.12760751]

>>12760723

I for one can't wait to tell the boomers when they find out their pensions are gone
>pick yourself up by the bootstraps and get a job, you lazy cunts!
>what do you mean, you're 70 and you don't want to work?
>you "earned" your rest? Well, where are your savings? Didn't you say you worked your whole life?
>what's that? Your children won't let you move in after you treated them like shit for years? Imagine my shock.

Boomer taunting will the funniest meme for the 3 months in which most boomers will die off due to not being able to afford cat food and not knowing how to scavenge food.

[Anonymous No.12760773]

>>12760751
Problem is boomers voting power level is much higher than zoomers. They will vote themselves more money until they croak.

[Anonymous No.12760788]

>>12760751
Based.
Boomercide when?

[Anonymous No.12760851]

>millenials who witnessed the subprime mortgage crisis of 2008 have been saving cash to buy a house during the next dip
>so many boomers with the "my house is my retirement mindset" are going to wake up one day with their net worth 50% of what it once was at the peak
>boomers will no longer be able to afford their houses, Will sell for pennies on the dollar to millenialls and zoomers
>in just a couple of years millenialls and boomers will basically switch places
>boomers will finally get a taste of what they put their kids through and complain loudly how life is too difficult nowadays

I can't wait

[Anonymous No.12760864]

>>12760851
My only concern is that the housing marker explodes upwards at the vedy first sogn of a dip for the first reason you mentioned

[Anonymous No.12760888]

>>12760864
Supply vs demand. Boomers still outnumber millenials. When every boomer wants to sell their house, there won't be enough millenials with that much cash to soak up all that selling pressure. The smart boomers will get out on top, the ones who wait too long will realize that the buying pressure has dried up before they (and many many others) have sold and then they will panic sell at any price just to get something.

[Anonymous No.12761078]

>>12760851
>>12760888
complete and uttler LARP

Show me the millenials who save cash to buy a house? I don't see any in my social circle.

There is no logic whatsoever to your argument. How is a house a retirement plan? A house that you live in doesn't produce any cashflow. So its value ultimately doesn't matter. It's dead weight anyway, whether it's worth 10 million or 50k, whether it accounts for 70% or 10% of one's net worth. Unrealized gains and losses don't have an impact.
Boomers are in a demographic that doesn't really depend on the job market anymore (over half of them are already retired, even more when the next crisis hits). How would an economic crisis even impact their ability to afford a house? The whole point in complaining about boomers is that they already have their houses paid off and living in your own home is still cheaper than renting, so why would they sell and switch? Given their average age, exit from the job market and the recency of the 2008 crash/clean-up I doubt there's many boomers left sitting on giant mortgages.

But keep dreaming, kiddo.

[Anonymous No.12761257]

Because nobody wants to pay 10 years salary for something that somebody got for 2 years salary and used for 40 years.

[Anonymous No.12761289]

>>12759401
>somebody is living in these shit shacks
Wrong boys. Chinks buy properties and keep them unoccupied because they want to keep them “new”

[Anonymous No.12761290]

>>12758407
Aren't houses really cheap in Maine, 0.5h of drive away from Boston? I know they're probably rural shitholes, but still, how is it hard for you people to buy a house in USA? Sometimes living beyond a big city is better even when it comes to commute, as bypasses allow you to not to deal with the city's internal traffic.

[Anonymous No.12761296]

>>12760432
Go home chink

[Anonymous No.12761314]

>>12759338
>bro just don't live anywhere lmaaaaaaooooo

they control the market, they set the prices

[Anonymous No.12761336]

>>12761290
No jobs = cheap land
Jobs = expensive land
Unless you are a tradesman that can find your own work or you are already wealthy, its not easy to get settled in the wilderness

[Anonymous No.12761439]

Because Boomers and Reddit spread the idea that if you don't have 20% saved up for the down payment you ABSOLUTELY CANNOT afford a house. J-Just think about the PMI!! You could be paying close to the same cost of rent for a few years in your own house with equity, BUT BUT MUH PMI LE BAD MAN.

Boomers and Financial "Experts" are scaring kids into hoarding their money during their prime instead of investing or setting themselves up for the future. Even if millenials hoarded it, most of them still couldn't afford to put down a $40,000 down payment to eliminate the PMI.

Everyone just propping up that rental markets with lies and bullshit. Selling kids FHA loans too...it's bad.

[Anonymous No.12761511]

>>12761439

>20%

If you can’t afford 100% you can’t afford a house

[Anonymous No.12761524]

>>12760851
>Nervously says the zoomers to himself every morning and every night.

We are not even close to the 2008 housing prices. There is a long way to Go since the wages have drastically risen in the last few years.
But hey. Zoomers are blind as their boomerparents.

[Anonymous No.12761578]

>>12760432
Look man, I don't hate people of other races, but I do think everyone is racist. If we spent more time understanding that it is part of the human condition, and less time trying to catch each other's racism in effort to virtue signal, the world would be a much better place. That being said, I love that this is the one place on the internet where people can really say whatever they want. Every race, nationality and religion is targeted here. Obviously not in equal measure, but everyone gets shit and everyone gets to give it. If you want to chat in some kind of hugbox, reddit is that way.

[Anonymous No.12761659]

>>12761578
Yes you cannot avoid the fight between good and evil. To avoid it is to lose.

We have to hear the stupid arguments and realize why they are dumb. We are all in this together frens.

[Anonymous No.12761663]

>>12760499
In terms of searching for a property:

- School Ratings. Doesn't matter if you plan to have kids or not, but a location that's roped into better schools has a better chance at re-sell (note, sometimes schools can be re-districted).
- Check the location a couple times: night, day, do the neighbors look like trash, do they look at you funny?
- Go to open houses. Not a bad idea to look at houses above and below your price range to get an idea of what your real "musts" are.
- Hone it down to neighborhoods you like, and keep it tracked on Redfin.
- More people buy/sell in the summer, as it's the only time families can move the kids without taking them from school, and they can be settled by the time school starts again. This creates a hot market for sellers, and tougher for buyers in certain areas. If you can wait until Fall/Winter, you can haggle.

Most people start the homebuying search and jump the gun hard because they get anxious and just find one/buy it. Don't let "wanting to be done" get the better of your judgement. We looked at 15 houses, put in 2 offers that were rejected, and the house we ended up buying was clearly the best. We should've never risked putting an offer on those other houses (fucking parents jumping down my throat to hurry up and buy already!!!!)

Payment-Wise:
- If you have good credit you should not be ever talked into an FHA loan. Ever. Always go for a conventional. Push for it if they don't want to give it to you.
- When you shop for lenders, get a pre-qualification letter. This says, that based on estimates, you can afford "this much" house. Makes putting in an offer much easier.
- Employment history is the biggest factor for lenders. No one wants to lend to someone who switched jobs or fields ever year. If you do 1099 work, it's going to be difficult.
- Avoid Condos unless that's how your major metro area roles (like Seattle).

>>12761511
>paying rent to the jews for nothing
>paying mortgage to the jews for something

[Anonymous No.12761680]

>>12758936
Kekked

[Anonymous No.12761721]

>>12760432
You're looking for reddit

[Anonymous No.12761738]

>>12760511
That's the land for most of the price, not the actual house.

[Anonymous No.12761766]

>>12761439
>prime instead of investing or setting themselves up for the future
Sure, but why would I invest in housing when it's going to crash soon.

[Anonymous No.12762824]

>>12759236
All politics are identity politics. Read some history kid.

Trump was elected by white identity politics.

[Anonymous No.12762839]

>>12760432
Go service some BBC ya fuck. Asain men bred for black men

[Anonymous No.12762846]

>>12758407
>jews flood the nation with tens of millions of shitskins
>tens of millions of shitskins now compete for housing
>pay mortgages to jewbanks or pay the jew rent
>whites begin paying top dollar for the privilege of moving into white neighborhoods that haven't been destroyed by spics and niggers

[Anonymous No.12762854]

>>12758936

[Anonymous No.12762859]

>>12760432
Ni hao wealthy Chinese businessmen

[Anonymous No.12762961]

>>12758936
Fucking brutal, man...

[Anonymous No.12762979]

>millennials aren't buying anymore

They never even started. Priced out due to boomers wanting max gains for their bags.

[Anonymous No.12762989]

>>12762824
>i was born after the me generation, into a paradigm of late stage capitalism, and am consumed by egoism and narcissism
we only think everything's about identity because the TV has been selling us products that create an identity around our demography.

[Anonymous No.12763007]

>>12762846
>Blaming immigration in general for housing prices going up
This will never not be pathetic. In a competent housing market housing availability would increase alongside populations. In fact that's exactly what has happened. The problem is that central banks have pumped housing vags for various reasons so the prices are still super high.

[Anonymous No.12763016]

>>12760432
Bye!

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[Anonymous No.12763025]

>>12758575
mid-2017 to mid-2018 was definitely a ridiculous frantic market for seattle and things have cooled off a bit in the last six months or so, but i wouldn't expect a major pull back in prices from where they are now. there is a lot of new office construction still happening in seattle and its suburbs and the buildings are getting leased up immediately by amazon, google, facebook, etc. a lot more six-figure jobs are coming to the region over the next several years and these people are going to want to buy houses.

[Anonymous No.12763090]

Oh and just in case you kiddos don't understand what's happening to the market, in America, there are two housing markets.

One is luxury housing in hot spots like San Francisco, Seattle, and Austin. These were being bought by the neavou riche and money launderers. The bubble on this is currently popping and most of these have come down 10% on their YOY.

The other is "workforce housing" or the type of housing that is considered "starter homes." These are not dipping in price because REIT are buying them up and providing a firm floor that is still out of reach for the average salary in a given area.

The boomers may die, but you've got to wonder which category their houses are going to fall into.
Most of these REITs know they can buy up a house and then make back their principal in 10 years.

[Anonymous No.12763137]

>>12763090
https://www.theatlantic.com/technology/archive/2019/02/single-family-landlords-wall-street/582394/
https://www.businessinsider.com/a-massive-buy-to-rent-scheme-is-hitting-the-housing-market-2018-8?IR=T
https://wolfstreet.com/2019/01/31/new-home-prices-drop-12-as-supply-surges/

read em and weep faggots

and if you think you can some how save enough and then afford them in the next downturn, you clearly weren't old enough to tie your shoes during the last downturn. Even if prices tank 50% (they won't), banks won't give you a loan unless you've got 50% cash up front.

[Anonymous No.12763155]

>>12763137
>Even if prices tank 50% (they won't)
Prices tanked 200-400% pretty consistently in the last crash, and the one before it. They'll tank that low again.

[Anonymous No.12763165]

>>12763090

I was just in Austin. I haven't seen any sign of a bubble popping. There is so much fucking construction and most of it isn't even in the city center.

[Anonymous No.12763170]

>>12763137

Doubting that. My credit is great.

[Anonymous No.12763177]

why aren't millennials buying houses anymore?

[Anonymous No.12763217]

>>12763155
How does a price tank 200%? You are aware that 100% drop is zero, right?

Stop trying to use common core to explain things to actual human beings with real education. It is on you to recognize that you were failed by the system and learn actual maths and use proper terminology.

[Anonymous No.12763257]

>>12763155
please tell me how a price tanks more than 100%

>>12763170
let me know how that goes for you.
I'll be here in a couple years and I will like to hear what happened

>>12763165
>thinks construction is a sign of a steady economy
Las Vegas would like to have a word with you

And anecdotal evidence, but before every significant downturn in modern times, new records for building heights were achieved. The Empire State Building (finished in '31) was only 25% rented out in it's first year and was known as the Empty State Building. We've got the Salesforce tower and One Wilshire on the west coast. We've got the new "super skinny" skyscrapers on the east. 5 of the 10 tallest structures are in China and were all finished in the last 3 years.

Downturns are a consequence of man's hubris and construction projects are man's hubris at it's best.

[Anonymous No.12763284]

why aren't millennials buying houses anymore?

[Anonymous No.12763306]

>>12763257

These buildings are being built for tech workers. In a downturn it's possible tech companies may drop workers, but it's also possible they will keep them because the tech companies have sustainable profits and lots of cash.

I would love to buy cheap property because my goal in life isn't to profit off property. I just want a fucking place to live. If I want to make money I'll put it in BRK.B or something.

[Anonymous No.12763311]

boomers selling extremely overpriced properties while shorting bitcoin at the same time this reality is my ultimate nightmare

[Anonymous No.12763316]

>>12763177

A white guy living there would get shot in 2 weeks. That is a ruff neighborhood.

[Anonymous No.12763325]

>>12760444
AHAHAHAHAHAHAHA
HAAHAHAHAHAHAHA
GET A LOAD OF THIS FAGGOT

[Anonymous No.12763328]

>>12763155
>Prices tanked 200-400% pretty consistently in the last crash, and the one before it. They'll tank that low again.
>>Prices tanked 200-400%

[Anonymous No.12763342]

>>12763328
And here I though crypto was the only place where you can lose 101% of your money.

[Anonymous No.12763344]

>>12763284

You're rich by local standards. You move to MO.

You buy that house in cash. You invite some local girl over and the night ends with you porking her fat ass. You tell her you love her and send her on her way.

You got the snip long ago but tell all these small town local girls, "if it happens, it happens." They know you make a lot of money working from home on your computer for one of those "internet app companies." They say, "He's super smart."

All these girls are mid twenties. That's the age where the extra weight they are carrying actually doesn't look too bad because their skin hasn't aged yet and sag bags haven't dropped. Big ol' DD's and fat asses. This is how you spend your 30's.

[Anonymous No.12763352]

I’m not buying the top. If I wait a bit prices will crash

[Anonymous No.12763367]

>>12763306
>I would love to buy cheap property because my goal in life isn't to profit off property.
That's why you'll never win my friend.
Those REITs are gaming the system.
They claim they can charge high prices because there isn't enough supply, but they'll fight every legislation to build more houses because they "have a right." They'll butter the right hands. They'll bring up every Californian spotted owl statute they can. They'll keep a development tied up in courts for years.
All the meanwhile, slowly corner the market and collude to increase prices.

There's literally nothing you can do about it.

[Anonymous No.12763383]

>>12758407
Because the rich fucked it up. I'm convinced that the rich are not intelligent at all.

[Anonymous No.12763401]

Why are millenials so entitled and lazy
And why not stop drinking s o y products? Are you lowering your test levels deliberately? You wont be a very tough antifa member the way you're going you'll just be a generation of twinks

[Anonymous No.12763460]

>>12763177
>omaha
lmao, no wonder it's fucking $45,000. have fun dealing with literally the only nog infested city in the state.

[Anonymous No.12763473]

>>12758551
Oldfag here. This is what the market did for about 9 months in 2007-08 before it collapsed in on itself. It's the last cash grab before the cycle comes back around. There are other signs too ... 50 year mortgages, arms, WF posting the lowest new home loan numbers in 10 years three months running, etc.

[Anonymous No.12763493]

>>12763473
https://wolfstreet.com/2019/02/13/mortgage-applications-get-dreary-despite-lower-mortgage-rates/
strange huh?

[Anonymous No.12763501]

>>12763401
>Why are The rich so entitled and lazy
>And why not stop drinking s o y products? Are you lowering your test levels deliberately? You won't be a very tough Capitalist member the way you're going you'll just be a generation of plebiscites.

Fixed

[Anonymous No.12763512]

>>12758936
Unbelievably based

[Anonymous No.12763513]

>>12763401
Shut up dad at least I don't need Viagra to fuck Thai hookers like you do.

[Anonymous No.12763519]

>>12763344
Sounds comfy, but it doesn't create an army of white children. Skip the vasectomy.

[Anonymous No.12763523]

>>12758936
Supremely based. lmao please do this

[Anonymous No.12763572]

>>12760458
Where are you getting your figures? 92%? People start businesses in this country every day. Try harder. Nobody is gonna put a silver spoon in your mouth.

[Anonymous No.12763580]

>>12760619
motherfuckin corporate bonnnnnds

[Anonymous No.12763587]

>>12758936
Based, fuck boomers. Sold us all out.

[Anonymous No.12763623]

>>12761078
Replace millenials with gen x. Have 70k at the ready for my down payment and closing this spring. Buying a modest place 30 min outside a tech hub where I work. The market already looks better here for buyers than it has in several years.

[Anonymous No.12763627]

>>12763572
look at this 20 year old boomer
>guys, if you want to succeed, just swim up stream
>if you all try hard enough, everybody can beat the average
>there's no such thing as market conditions
>everything in life comes to you because you've earned it
>our lives aren't ruled by superstructures

fun fact: originally "pulling yourself up by your bootstraps" meant doing the impossible

[Anonymous No.12763640]

>>12761439
>not having enough discipline to save 20%
>not investing what you would be paying for PMI into dividends that pay YOU
never gonna make it

[Anonymous No.12763715]

>>12763627
I'm 38.
Have an MS.
Went to community college for free.
Worked my ass off to get out of public uni with only $25k in student loans which I paid off in 2 years because I drove the same old ass car, rented the same shitty apartment and stockpiled money.
Have also invested wisely.
Nobody did this but me.
Guess I'm just a lucky guy.

[Anonymous No.12763726]

>>12763640
oh god please stop.

Having the opportunity to put away 20% of your paycheck is an exception, not the rule.

Considering all the metro areas in US with a health job market, it's a matter of luck if you find a place to live that doesn't cost more than 40% of your paycheck, or doesn't require you spending copious time and money on the commute. Let alone the amount of luck and accidental decision making involved that gets you that job in the first place.

[Anonymous No.12763752]

>huur durrr bubble burst

All the boomers have to do is allow immigrants and invade another country.

Deal with it, kids, the world is not fair, the boomers gonna die filthy rich without paying for their crimes and we will be the poorest generation.

>>12763715
>has money left for investments after paying, rent, gas, food, car, and also paying his debts

Yeah, lucky guy.

[Anonymous No.12763767]

>tfw waiting on my wife's parents to die so I can inherit their 4 million dollar 3 bedroom 1700 sq foot house in Los Angeles because it's literally the only way I can afford a home now.

[Anonymous No.12763770]

>>12763726
Welp, you can do like I did and move somewhere less expensive. There's no luck about it, it's called research.
"Where do I want to be in 5 years and how am I going to get there?"
"How do I get a marketable degree as cheaply and reasonably as possible?"
"How do I meet the right people who can increase my network and open the doors to opportunity?"
"Where do I live where the pay/housing ratio is low and where I can find acceptable pay for my education and experience?"

[Anonymous No.12763782]

>>12763715
yeah buddy, you're lucky and I'm sure that feels pretty nice.

For every one person above the average, there's someone on the other side that's below.
Stop to think about how much you had to struggle to get to where you are and how much you have to show for it.
If you were born at a different time, you'd already have three kids and two houses.
The point is the average is getting brought down, and not by forces that you or they have any control over.

[Anonymous No.12763786]

>>12763752
Location, education, and profession? I guarantee one of those variables could be adjusted and you too could be a lucky guy.

[Anonymous No.12763847]

>>12758947
(((boomers)))

[Anonymous No.12763853]

>>12760773

Let them, it's being printed into hyperinflation as we speak. Quantative easing 4 and 5 are coming relatively soon. The USD is already dead because of unfunded liabilities. So what if they have hundreds of kilo's of worthless paper. I'm not working for free and neither should you. The problem will solve itself in half a year, when all the retards and boomers have starved.

[Anonymous No.12763863]

Ultimately it boils down to fear

Fear of debt, fear of moving to a cheaper area, fear of failure.

[Anonymous No.12763885]

>>12763770
oh god, I said please stop.
you can be proactive and ask those questions, and it certainly helps, but it's still a crapshoot.
Not to mention most people don't know how to ask those questions when they start making decisions. The forces in your life that even gave you the presence of mind to ask those questions were beyond your control.

How many people thought Automotive Design, UX Design, Video Production, App Developer, or Video Game Programmer was a marketable skill?
And how many of them wound up in endless freelancing jobs and laid off after the project shipped?
And which ones find a reasonable city to move to and then have rent increase 5% YOY?

Did they have control over that?
Or maybe they did, they should have stayed nimble and move town every 6 months if they found a position with slightly better benefits or slightly lower rent. Having friends, routines, and stability is valueless.

[Anonymous No.12763903]

>>12761439

Obviously you should buy assets that appreciate during a crash, like precious metals, and leverage the difference to buy property when the property market is oversold and your assets are overbought. Your timing doesn't even have to be remotely perfect, it just has to be good enough.

[Anonymous No.12763906]

Everyone is blaming boomers, but in reality, you should be blaming the real culprits that did this - the GOVERNMENT. Fools.

Simple, because houses are too expensive. It's really that simple. This goes double for large population areas in blue states living in the Northeast and West. Who wants to have yet another ball and chain around their ankles just after you get off the one from college?

I mean can you imagine this garbage? Half of your life is now spent in debt for the average dumb millennial that went to school, got married at ~28, and buys a house at ~32 when his roastie wife gets baby rabies. It's a fucking joke. Half of your life will be just slaving away in a broken job market paying off debt.

Then theres the fact that there is no job security whatsoever, because there is no social and community cohesion anymore. The only way for you to be financially secure is for you to hold a full time job with at least one side business.

A house is just further dead weight, and this is compounded on the fact that millennials are not getting married either.

[Anonymous No.12763914]

I have a house.My parents bought it. Still mine though.

[Anonymous No.12763930]

>>12763906
Guess who voted the people that sold us all out into the government before the majority of us were even able to vote?

[Anonymous No.12763946]

>>12763906
>government is full of boomers
>government is bought and paid for by boomers
>government continues to legislate in favor of boomer interests and boomer pocket books

yeah it may be the government, but I'm going to still blame the boomers.

[Anonymous No.12763958]

>>12758947
/thread

[Anonymous No.12763962]

>>12763930
Haven't you learned yet that both sides are rigged? Literally fucking rigged. No matter what we "vote" we lose. Voting is a waste of time, the whole system is rigged to shit. The people who rule the world use peoples' tribalistic tendencies to their advantage. They get you rooting for a side like the dumb nigger you are, then you go to vote and they get you either way.

Yes, pulling a lever is somehow taking political action. Gimmie a break.

[Anonymous No.12763976]

>>12763906

It's almost as if someone enabled this whole scenario in the first place

[Anonymous No.12763988]

>>12763962

You are correct in this. The only way to win is not to play.

>don't keep your money in fiat
>keep your money away from banks
>live frugal, invest in things that appreciate

Their entire society is predicated on an ever-increasing population, ever-increasing mindless consumerism and fractional reserve banking + money printing.

[Anonymous No.12764003]

>>12758936
im ngm, but before i commit suicide, i hope your dream comes true, and you post it on /biz/

[Anonymous No.12764004]

>>12763962
yeah, and tell me, who is doing the rigging of both of these parties?
Is it by chance those who were born near the end of the 1940s on towards the 1960s and were able to ride the wave of cheap energy, government sponsored innovations, and widespread infrastructure spending?


out of curiosity, how old are you?

[Anonymous No.12764007]

>>12763962
You're fucking retarded if you think I actually vote. I already know the whole electoral college shit is garbage. Not to mention the people who do vote always vote for one sided ideas on policies rather than something in the middle. But guess who are the majority of the people that vote?

[Anonymous No.12764009]

>>12763946
>>12763976
I'll say this, boomers, and the older generation in general, are alot more ignorant to the actual state of whats going on. They still believe our government actually functions with the intention of helping the People, when in reality, the only thing our government does is protect the Elite and suppress and control everyone else.

At least the younger generations are beginning to smell the coffee and understand there are serious forces at work that are undermining us. This illusion of prosperity is finally coming to an end - something is up, and we know it.

Still, at the end of the day, the real culprit is the government who are running psychological operations 24/7 on the people to keep them dazed and hoodwinked.

thezog.info

[Anonymous No.12764011]

>>12763930
Don't you get it? The Jews own the political process. They select jew-friendly candidates through the press and pump them up with their unlimited supply of money gotten from usury.

Dempublicans and Republicats.

[Anonymous No.12764046]

>>12763988
fiat isn't going anywhere
sorry

[Anonymous No.12764047]

>>12764009

They're called "The Selfish Generation" for a reason. They know for the most part, but they just don't give a shit. Let society collapse they say, as long as I got mine and it happens after I die. Me me me, stuff stuff stuff, waste waste waste. Is it any wonder entire generations of younger people are disjointed because the boomers didn't raise their parents?

4 billion fucking years of the most brutal conditions lead to the least imperfect knowledge that kept us alive as a species. Boomers just tossed all that information aside like a used cumrag. "I'm done with this. Yeet."

[Anonymous No.12764049]

>>12764009
>>12764011
>>12764007
well, at least you three have found each other

but if you think the younger generation has any chance at figuring it out, let me tell you about a game they play called Fortnite.

[Anonymous No.12764064]

>>12763501
you pwnd me breh

[Anonymous No.12764103]

>>12764046

It's already dead. The US has ~25 trillion in debt and over 200 trillion in unfunded liabilities. The annual tax revenue is around 4 trillion a year. That's LESS than the INTEREST on the debt alone. There's no way to pay for the liabilities like mandated government healthcare, education, welfare and government pensions.

Simply put, money is a claim on value. The reason why people accept it as valuable is because they can later exchange it for something they value. But what then if a third party creates money from nothing? No value is exchanged, yet the money supply increased without an increase in the production of goods and services.

That's inflation. That's an ever-increasing velocity vector of how money flows through an economy. It's like a dam that is about to burst and the cracks are leaking. It doesn't look like a lot now, but once people realize they're losing 10% of the value of their money a year right now, current day? They will rush to buy whatever holds its value better than fiat. In greece people buy 7 brand new cars, 3 washing machines and all kinds of stuff that doesn't depreciate easily. In Venezuela, a single ounce of silver buys you 4 months of food.

Fiat is dead on arrival, it just takes a long time to die in high IQ productive countries. From the moment it is issued, it starts losing value as more is printed over time.

[Anonymous No.12764121]

>>12758864

this is what money laundering looks like btw

[Anonymous No.12764144]

>>12758407
AirBNB
People who own 3+ houses reducing the supply
Capitalism

>ree at me about Econ 101 already took it and your dad sucked me off for an A, nerd

[Anonymous No.12764164]

>>12764144
No it's the immigrants. If immigrants weren't here then housing supply would match demand.

[Anonymous No.12764179]

>sigh
The point I'm making is who fucking cares if the boomers or whoever had it better. Stop using that as a crutch. I started undergrad as an animation major. I learned that it was being sent overseas and that most animation jobs were in high cost areas and made shit money. I changed majors and went for a masters. Instructional design and adult learning, where you can entry level at $60k or make closer to $90k with experience like I do. I did the research at the time and most importantly learned to learn. I've also been a business analyst, a trainer, a graphic designer, and did a short stint wrangling tickets in zendesk for IT since it was the only thing I could find.

Stop blaming external factors on your own inability to decide and try shit. Yeah external factors exist and they suck but that's life. Be prepared for it. Yeah I worked hard as fuck and I don't have what boomers had but I'm not a sorry sack of shit about it and am better for it. Be glad we're not in the middle of a world fuckin war.

[Anonymous No.12764199]

>>12763782
the only way we can possibly exercise control over these forces is through collective action

[Anonymous No.12764222]

>>12764164
Ita surprising how people in CA haven't figured it out yet.

[Anonymous No.12764228]

>>12764179

The point is they created impossible-to-pay-off debts to which interest would accrue under the assumption that future generations would be forced to pay off these debts while living in squalor. They literally enslaved future generations so they could have free shit. Then they encouraged everyone to fuck around together with the jews, and to not have kids. So now we have a HUGE aging population with a massive tax burden, and not enough young people to be forced to pay for it all. Their solution? Destroy the country with mass immigration to stave off the complete taxation collapse just long enough so they can die before they run out of stolen money.

Fuck boomers and kikes.

[Anonymous No.12764281]

>>12758948
Stock market drops basically. The only reason these pensions are solvent is because stocks have risen 300-400% from the recession levels. Imagine if stocks drop 60% or something? Boomers will drain their pensions in a few years.

[Anonymous No.12764305]

>>12758936

[Anonymous No.12764334]

>>12764222
I'm pretty sure they have figured it out but nobody wants to say it or do anything about it. It's basic economics but there are other factors. American born immigrants don't know what to say and can't really take sides because they have immigrant parents, then the whites also can't really say anything they probably have neighbors, friends, co-workers who are minorities. Though I think to get around this is someone just has to bring up basic supply and demand economics and say there just too many people in California now.

[Anonymous No.12764337]

People aren't selling their houses no matter what that's why inventory is so low. New construction these days is mostly condos when people want actual houses.

This of it like link holders. Most of them will hold and go down with the ship if it doesn't work out. That's how homeowners are. I own a house and I'd rent mine out or air bnb it before even considering selling. Most homeowners are like this and will continue to be

[Anonymous No.12764350]

>>12764334
*American born children from immigrants, brain fart.

[Anonymous No.12764498]

>muh immigrants are increasing prices
Oh wow if only we could build more housing in order to meet the new demand. Too bad that's impossible.

[Anonymous No.12764538]

>>12764498
Oh wow it's not like land is finity and there's a limit of things you can build.

[Anonymous No.12764551]

Real estate is literally the worse form of investment nowadays. It's completely illiquid and unless you have millions upon millions of dollars you won't be able to buy a property nice enough to get quality tenants that won't ruin the place.

Crypto is also a shit medium of investment and it's best to just invest in dividend paying stocks or mutual funds if you can't give a shit. But you need to be aware of the fees that you'll need to pay.

[Anonymous No.12764567]

>>12764538
Are you familiar with the concept of a multi-storey building?

[Anonymous No.12764579]

>>12764567
>urban high rises solve property crisis

[Anonymous No.12764591]

>>12764551
Weak FUD.
If things keep going the way they're going, the only people with a secure future are those who own two houses.

[Anonymous No.12765117]

>>12763316
Is you tha illest nigga in Nebraska?
https://www.youtube.com/watch?v=f8znwPYsuFE

[Anonymous No.12765218]

>>12763025

I think Redmond/Bellevue will grow faster. What you're saying is a strong possibility, no relaxation in price. It really depends, the only people with equity to even play in this market are people moving from California/Boston/NYC.

Unrelated to any numerical figures, I think many young people are going to leave over the next few years due to the long will and homeless. This opinion isn't based in logic, just a hunch.

[Anonymous No.12765375]

>>12758407
>buying the top

absolute kek

[Anonymous No.12765929]

>>12763906
>boomers elect decades worth of governments consisting of fellow boomers that slowly sell out the country and outsource jobs
>don’t blame the the boomers!
Please die soon

[Anonymous No.12766504]

>>12763284
>>12763177

The irony is:

-The Fed owns those houses, either outright through some shell REIT or through some cuck they launder through, and now they're dumping because QE in the town is done.

or

-HUD has been using them to shelf niggers for the democrat vote and is liquidating. The entire surround streets are full of niggers that refuse to accept first world standards of living. Enjoy your slum.

[Anonymous No.12766753]

>>12758407
>anymore

That implies they bought anything at some point.

[Anonymous No.12767244]

>>12765929
>Not realizing that it doesnt matter who you vote in
KYS

[Anonymous No.12767249]

>>12763885
>The forces in your life that even gave you the presence of mind to ask those questions were beyond your control.

[Anonymous No.12767259]

>>12758407
$6k mortage- f-ck not!

[Anonymous No.12767269]

>>12760458
>Universal Basic Income is now a must for the future. If it is not implemented the job loss and poverty will destroy the world.
it ok if useless people die

[Anonymous No.12767436]

>>12763863
>fear
Hit me right in the feels. I want to leave my parent's basement, but I'm scared. I don't want to apply for new jobs. I don't want to pay rent.

[Anonymous No.12767501]

>>12760581
Ehh this guy gets it.
Fuck em, kick em while they are down. Take those bargain prices.

[Anonymous No.12767553]

2 million big ones for a shack next to an aircraft hanger

[Anonymous No.12767595]

>>12760458
Despite what brainlets on this board may think, UBI is not only some hardocre leftist utopians ranting.
There are debates about it at WTO summits, which isn't excatly a left-leaning organization.
Jobs are disapearing, fast, and not only blue collars. Bankers are being laid off massively, and int hte next 10-20 years a whole lot of jobs are going to disappear, all across the spectrum.( and yes I know who schumpeter is, but we are far from one per one in terms of new jobs vs disappearing ones)
the main issue with UBI is how you implement something like this without resulting in massive inflation

[Anonymous No.12767646]

>>12760566
People that argue for UBI are the same idiots that think that it's a good thing when the minimum wage goes up. It just prolongs the wagecuck slavery that everyone here hates.

[Anonymous No.12767660]

>>12763155
>be me
>buy a house in 2006
>marketcrash.jpeg
>my house loses 400% value
>manage to sell it
>make no mey, I owe the buyer 3 times the amount I paid for the house
>mfw

[Anonymous No.12767913]

>>12761524
>wages drastically risen in the last few years.
for literally who lol

[Anonymous No.12767937]

>>12767646
you're so stupid. seriously give every dollar you own to walmart and mcdonalds

[Anonymous No.12768245]

Because they are all living in with others for cheaper until the wealth is passed down from the rich

[Anonymous No.12768550]

>>12763007
It doesn’t exactly help though does it basedboy

[Anonymous No.12768645]

>>12764103
>In greece people buy 7 brand new cars
I am calling this an epic utterly bullshit and faggotery.

[Anonymous No.12768655]

>be a millennial
>buy a house
>can't pay the mortgage
>commit suicide
>chinaman buys the house as an investment
>likes the spooky story about the millennial who hanged himself there
>chinaman drowns in the bath tub
>turns out the house is haunted
>hollywood makes a film about it
>film loses money
>now your name is ruined
>plus you're dead

Gee wiz, I can see why millennials don't want to buy a house.

[Anonymous No.12768864]

>>12761663
Good insight here. Thanks anon

[Anonymous No.12768931]

>>12758864
>>12760511
Holy fuck I think I get it
Isn't it like some sort of nigger protection?
Just put your house up for sale for 5 million, everone esle will do the same in panic.
Result :
Niggers and lil pump blasting zoomers will not move nearby.

[Anonymous No.12768943]

>>12758407
Home = Brings in no income, no tax breaks
Investment property = Tax breaks + income

Rent an apartment + Sublet it, - set for life.

[Anonymous No.12768950]

>>12768943
Why would anyone prefer paying rent instead of paying the same mortgage rate? Furthermore interests are at an ATL.

[Anonymous No.12768992]

>>12767595
So we have in fact overpopulation and it wasn't a meme?

[Anonymous No.12769008]

>>12760432
stfu chink boy, embrace your cute nickname and be happy that you got *almost* the best roll at life, you could've ended up being a nigger or pajeet
just put some weights on your dick and you should be fine

[Anonymous No.12769060]

>>12758456
Wrong
Governements bailed the banks out and offer niggers housing assistance
Realtors are the communist.

[Anonymous No.12769086]

>>12761524
Once it crashes 2008 prices will look expensive

[Anonymous No.12769185]

>>12758423

>white man be holding me down
>boomer be holding me down

[Anonymous No.12769199]

why do pooroids blame everyone else but themselves?

[Anonymous No.12769229]

>>12769185
>Florida
>In an area rated as dead median for safe neighborhoods in America
>No guarantees about the structural quality of the house
>Hurricane will likely wipe the house off the foundation next year
>no Garage

Look, if I wanted to live in a second world country, I can buy a nice house in the Ukraine for less then that.

[Anonymous No.12769248]

>>12769229
>Also, literally blocks away from Muck Pond Road
I M A G I N E
T H E
S M E L L

[Anonymous No.12769424]

>>12758995
kek

[Anonymous No.12769451]

>>12762824
>Trump was elected by white identity politics.
I wish

[Anonymous No.12769512]

>>12761078
You called? 30yo boomer zoomin up maxed my ROTH IRA already and saving all my liquid up for a downpayment looking at 50K for downpayment and going to finish a bachelors and cert for higher earning by 2020 I'll be throwing around around 120K for downpayment so long as we dont get a SHTF level event.

[Anonymous No.12769525]

>>12760444
chink checked

>>12761578
agreed we celebrate differences don't be offended by racial slurs instead take them back and celebrate them. I love all you faggot nigger cuck wh*toid pajeet neckbeards to death.

[Anonymous No.12769549]

>>12763284
Cause Missery

[Anonymous No.12769558]

>>12762961

[Anonymous No.12769612]

>>12761078
>There is no logic whatsoever to your argument. How is a house a retirement plan? A house that you live in doesn't produce any cashflow. So its value ultimately doesn't matter. It's dead weight anyway, whether it's worth 10 million or 50k, whether it accounts for 70% or 10% of one's net worth. Unrealized gains and losses don't have an impact.
https://en.wikipedia.org/wiki/Reverse_mortgage

[Anonymous No.12769768]

>>12769451
Bullshit. LOWEST BLACK UNEMPLOYMENT EVER! NO COLLUSION WITCH HUNT!! is a classic white supremacist dog whistle.

[Anonymous No.12770135]

>>12764579
>more houses solve lack of housing
Can't have that though - think of the boomers, who will buy their bags??? :^)