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/biz/ - Business & Finance

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52874188 No.52874188 [Reply] [Original]

Real estate is the biggest fucking scam on the earth. 50 years ago houses and rent only cost like 10% of your income now you can't even buy a house in any worthwhile urban area in America unless you have two people working full time with moderate paying jobs paying 30-40+% of their incomes each for the mortgage. This is literal serfdom.

>> No.52874214

>>52874188
for reals

>> No.52874223

>>52874188
wow i think youre the first one to notice this!

>> No.52874290
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52874290

Keep bitchin'

>> No.52874298

>>52874188
that's because we're at the end of a decades long inflationary cycle, finally, entering into a deflationary world led by AI, fusion energy, robots.
The cost of living will go down drastically.
Real estate will stagnate.
We are entering , you just haven't realized yet

>> No.52874301

>>52874188
Yeah I can't believe people will wage for decades for a house when our ancestors could build huts and outhouses

>> No.52874320
File: 585 KB, 710x840, 3D32B0AB-B840-4C36-A5FC-9D21C7E562C8.png [View same] [iqdb] [saucenao] [google]
52874320

>>52874188
But your boomer parents and you got cheap fadt food and other menial services for the last 50 years

>> No.52875513
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52875513

>>52874188
>"worthwhile urban area"

This line of thinking is your problem.

>> No.52875521

>>52874188
yes and no. pre-fab houses are a thing

>> No.52875577

>>52874188
Housing is more expensive that it used to be but it has never been 10% of income.

45 years and not 50 years but it shows that housing was a little more than a third of income back then, not 10%.
https://www.oftwominds.com/photos10/housing-price-income.jpg

>> No.52875599

>>52874298
>cost of living will go down
lol no. That never happens

>> No.52875705
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52875705

>>52874188
Bitcoin is the biggest fucking scam on the earth. 15 years ago bitcoin only cost like 10 cents of your income now you can't even buy a bitcoin in any worthwhile exchange unless you are working full time with a moderate paying job paying 30-40+% of your income for the bitcoin. This is literal ponzi.

>> No.52877319

>>52874188
>50 years ago houses and rent only cost like 10% of your income now you can't even buy a house in any worthwhile urban area

So you didn't study 100 years ago or 200 years ago.

ngmi lazy faggot

>> No.52877562

>>52877319
OP btfo

>> No.52877587

>>52875513
>just live in a meth town where you can't find any jobs
retard

>> No.52877626

>>52874290
even when you factor in rates boomers were paying much less of their disposable income to housing.

The housing price to pre tax yearly income ratio in the usa is like 7.5

In the uk its closer to 9.

If you're a brainlet that means that the average american would have to save 100% of their PRE TAX income for 7.5 years to buy a house. Post tax its like 12 years. Without spending a penny and working for the average american salary (which is what the vast majority of people will earn in their lifetime).

In the 90s it was around 3-3.5 . 5% extra apr compared to that is nothing

>> No.52877671

>>52875705
The difference is :

A. Bitcoin is not required for people to live. Housing is. Nobody is crying when the price of gold goes up because it's a precious metal. Housing should not be a scarce resource. It should be something the vast majority of people should be expected to own. When we're getting to the point where the only people who own thier house mortgage free are 80 year olds and millionares theres something wrong.

B: Bitcoin is a transactable currency. Housing isnt a good form of currency as it isnt portable,. So the understanding is you should be using and holding bitcoin anyway because you believe it is a good form of currency (obviously a lot of people do because the price skyrockets).

Being the last on the train for a niche, new form of currency is not the same as being priced out of an essential asset at birth and forced to work your whole life, leverage with a bank and pay retarded amounts of interest in the long term for said asset.

>> No.52877737

>>52877587
>what is wfh

>> No.52877752

>>52875513
Tell me more about western Wyoming

>> No.52877764

>>52877671
I'm 31 and my house is paid off

90% of this country is affordable. Half of this country is a bargain.

>> No.52878235

>>52877737
Id rather shine shoes in the city the wfh in some hick town. Your kids will listen to garth brooks and believe in angels

>> No.52878355

>>52877752
It's mostly a dusty shithole, the faggots down in Jackson ruined the most beautiful part of the state. Cody is ok.

>> No.52878364

>>52878235
And they'll turn out better for it, faggot.

>> No.52878404

>>52878235
>Your kids will listen to garth brooks and believe in angels
Versus
>mumble rap and feminine penises