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/biz/ - Business & Finance

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53967310 No.53967310 [Reply] [Original]

Realistically when will houses finally drop in price significantly?

>> No.53967327

eoy

>> No.53967337

>>53967310
>that pic
pretty much, Zerohedge too and so many others, for the longest time they were all saying 2016 would be when everything collapses, they just keep moving it back now like they never said anything before.

>> No.53967342

Unlikely unless the US builds the wall

>> No.53967530

>>53967310
>Just buy my course for 35k bro

>> No.53967552

>>53967310
>Realistically when will houses finally drop in price significantly?
It won't. The vast majority of homeowners bought before the covid madness. They bought when prices were almost half of what they are today then they got the opportunity to refinance their mortgage to around 3%. All the current homeowners cannot move.
>Can't move to a bigger house. Interest rates and home prices are too high
>Can't downsize. Interest rates would make a smaller home cost as much as their current.
>Even moving into an apartment would cost more than staying in a house bought before covid with a 3% rate
The market is in a stalemate. Current homeowners can't afford to move and don't want to lower their prices. Home buyers can't afford to buy.
We will see home prices come down very slowly because the sellers don't NEED to sell. Wages over time will catch up with the price of homes.

>>53967342
Also this

>> No.53969072

>>53967310
When you understand the underlying problems with the economy, you know there will be a crash. What you don't know is how long they can hold the house of cards together before it ultimately comes crashing down.

>> No.53969226

>>53967552
>Wages over time will catch up with the price of homes.
How? Employers refuse to raise wages, even after the most drastic CoL increase of the past 50 years. I didn't even get my paltry 2% CoL increase these past years. Home owners refuse to lower house prices because they all want their big payday like it's 2021 and interest rates are below 2%. Fed refuses to lower interest rates because obviously.
It feels like everything got locked into place in 2020 and upward mobility has been cut off for everybody that wasn't able to get in before the collapse. This cannot fucking continue.

>> No.53969265

>>53969226
>Employers refuse to raise wages
They ALWAYS refuse to raise wages. That's the whole fucking point of unions - to FORCE employers to pay more.

>> No.53969270

Imagine taking financial advice from jackie chan lmao

>> No.53969293

>>53969226
Home prices have come down some. However, most of the price drops have come from the top of the market and homes that are unlivable. The starter home market has not been affected much.
Wages are going up only for people who change jobs. I got just under a 3K raise this year. I would say get your resume in order and start taking sick days off from work.

>> No.53969339

>>53969265
Minimum wage everywhere is now 15 an hour

>> No.53969370
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53969370

>>53969293
>The starter home market has not been affected much.
The starter home market has been wiped out by AirBnB and Vrbo, at least around here. We only have unlivable ghetto houses listed at 200k or basic homes that were going for 150k 3 years ago now listed at 300k. I have friends that work in local real estate and it's 1000% because of Califags moving in and bullying local buyers out of the market with cash from their home sales back west, inflating everything to the point where local people just plain cannot afford to buy anything.
I hate Californians so much. The pandemic has allowed them to spread their housing crisis to the rest of the nation. It makes me want to just burn everything down.

>> No.53969432

>>53969370
that's why you need to send niggers into those areas to drive prices down, then flood it with mexicans to murder and drive out all the smelly niggers

>> No.53969448

>>53969432
so what happened in CA....Wait is that CA's long game to get their home prices down????

>> No.53969576

>>53967310
Where? Housing prices are regional. Certain areas (with overdevelopment) will drop a lot before there's any sort of national downturn.