/biz/ - Business & Finance

[Anonymous No.55847188]

Will humanity ever return to being able to afford a nice house with a few years worth of wages?

[Anonymous No.55847198]

No. It's not desired by anyone in power. Middle classes are dangerous to stable elites.

[Anonymous No.55847227]

>>55847198
They're actually succeeding at cramming us all into pods. They're fully mask-off with their plans, and nobody is doing anything about it

[Anonymous No.55847251]

>>55847188
I own this one pretty comfy ngl.

[Anonymous No.55847291]

>>55847251
Homes that look very similar to this in my area go for about $500k, but without the nice stone and concrete finish. Most are also 70s and 80s builds, with massive amounts of repairs needing to be had

[Anonymous No.55847315]

>>55847188
you can enjoy pic.

[Anonymous No.55847330]

>>55847291
Mines a verified sears model kit home, I got lucky and paid $200k in 2018. It’s solid, no osb anywhere the wood quality is incredibly sturdy and beautiful. They really don’t make them like they used to.

[Anonymous No.55847418]

>>55847188
You would have to have a catastrophic event to reduce asset prices where people no longer believed in the future for an extended period of time.
Houses went from 2-3x median fulltime wage to 10x median wage and with land getting more and more competitive you can basically expect prices to go up as much as people can borrow.
Housing has gone from the primary purpose of being a home to the primary purpose of being an investment and thus it has kept up roughly with other asset classes.

Most rich people are isolated from the problems that poor people face. Considering the rich or the asset rich boomers are the ones owning this stuff there isn't really much panic and everyone knows that they could survive a market crash. The exception are those over leveraged but that's still a minority of people. I'm amazed by how many poor people can survive on credit and continually bad financial decisions but these people have been doing it for decades and it's far beyond my ability to understand what the limit actually is.
Another thing to note is that we are actually getting getting paid more per hour when you consider inflation and ignore assets. So the economy of buying useless shit you don't need is going to continue for a lot longer, people will continue to survive as they pay more rent. You then have NIMBY laws that make building more difficult.

I just don't see a proper housing reset happening for the next couple of decades. If asset prices get a correction then it's undoubtable going to occur around the time i hit FIRE. There are probably 1000 different major factors that determine housing prices. The best you can hope for is that there is a major flight for safety that ends up being a nothingburger (or more likely government intervention saves it's ass) and get in while people are scared.

[Anonymous No.55847432]

>>55847227
>and nobody is doing anything about it

[Anonymous No.55847448]

>>55847188
We'll have to return to sound money and raise wages first. Those prices are what our grandparents and great grandparents paid back when our cash was backed by gold.

[Anonymous No.55847480]

>>55847448
>our grandparents and great grandparents
the majority of amerimutts aren't even real americans lmao

[Anonymous No.55847511]

Most jurisdictions are swamped by NIMBYs who want as many zoning laws and regulations as possible to keep home prices from ever going down. You have to declare war on boomer homeowners if you actually want to solve this issue.

[Anonymous No.55847634]

>>55847480
Regardless, we're not gonna see a new 4-bedroom house sell for $10K until each dollar's backed by at least one gram of gold again.

[Anonymous No.55847637]

>>55847188
Duval county is really bad

[Anonymous No.55847933]

>>55847188
>humanity
Americans aren't human.

[Anonymous No.55847971]

modern houses were a mistake