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/biz/ - Business & Finance

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File: 817 KB, 756x587, 2 story.png [View same] [iqdb] [saucenao] [google]
55948805 No.55948805 [Reply] [Original]

>new listing, open house on saturday
>rural-ish midwest
>house sold for 353k 2 years ago
>listed for 429k
>comps suggest its closer to 400k
>"rates are 7% now... there won't be that much interest"
>show up to open house
>9 cars in front of house
>multiple young families walking through house
>listing agent changes description after open house

Real estate isn't crashing.

If you want a house you need to get married and combine incomes.

>> No.55948809


No shits its not a bubble. Who says its a bubble? Zoomers? Millennials? Housing market to the moon.

>> No.55948825

i dont understand your logic, are you saying that pre 2008 GFC married couples didnt go out and check out houses? usually you see vacant listings after the bubble bursts retard

>> No.55948871
File: 527 KB, 680x573, 1689030529346956.png [View same] [iqdb] [saucenao] [google]

>Look at how big this bubble is
>It could never pop

>> No.55949004

I bought my house for 320k, with a mortgage rate under 3% for 30yo.

Now this house is valued over 420k - and with these mortgage rates at over 7 now, no way I'm selling.

Glad I got in at peak deal. I feel bad for other young couples. They're fucked for years.

>> No.55949077

and what happens when their wages stagnate, or worse yet they are laid off, and can't pay the mortgage?

bubble is mania. buying houses at these prices with these rates is mania.

>> No.55949341

Perma-bear rentcucks are as bad as bitcoin permabears. Your opinions are wrong. You lost. Housing is not a bubbble, its a loaded spring. Keep watching prices... you're about to see some crazy shit.
If you don't believe me, use your cash to short home-builder stocks. You'll lose either way

>> No.55949357

I don't even own a house but it's not a bubbles. Values keep going up because there is no inventory. Without a recession nobody is giving up their 2% rate.

>> No.55949442

In a major US city near where I grew up, a starter home was around 700k ten years ago. People thought this was insane and unsustainable.
The price for a starter home now is over 1.5 million. These are 1500 sqft homes that need significant repairs and were built in the 1970s.

People cheering for a housing crash have no idea how much further the average middle class family can be stretched, you think a 400k home is expensive? 400k is affordable for a single person with a decent income.
Prices will continue to go up and people will just have to sacrifice more and bend over backwards to make the mortgage meaning:

saving up for years, most likely needing a dual income.
no kids, or delaying them for a while
relying on money from parents/family
buying a smaller/older home that needs major work

And like the previous anon said, I don't even own any property so it's not like I have a horse in this race.

>> No.55949586

You know your fiat and world is going to garbage when you have a life size wood doll house go for over 5k, economy plane ticket go over 5dola.. actually still be stuck with planes.. where 1st class seats look like economy. Have to qq and start wars over fuel. Have your mainstream media ran by uneducated warmongers. Where they and the majority of the world hasn’t read the Quran at least once as much fault of their own as their elders for not implementing it in to their primary education. At least to get to understand their maker, ok so you may be too egotistical to believe that(prior to reading and giving it a go) at least to get to know the belief of 1/4 of the population, the pop group that is factually known or unknown to you the most clean(mentally and physically), hospitable and charitable. Why are they that way? why is the Quran packed full of signs/lessons & most agreeable with “science” ONCE documented science catches up to it. Which it probably never will in its entirety. Not even with the power of “quantum ai” Alhamdulillah for Islam & Quran.

>> No.55949593

how do you actually make such a straight line with a lawn mower though?

>> No.55949790

You run it up the lot line, then as you keep making passes you make small corrections on previous lines, aligning the wheels with the cut grass.

I'm wondering why they have such a narrow mower for what is at least a 1/2 acre lot, must take them forever.

>> No.55949800
File: 529 KB, 1294x807, IMG_5834.jpg [View same] [iqdb] [saucenao] [google]

>buying a particle board/tar paper/vinyl sided home.

>> No.55950139
File: 62 KB, 1168x652, 45356.jpg [View same] [iqdb] [saucenao] [google]

If you zoomers want affordable housing you better try elvis country.

>> No.55950272

If you get a mortgage you're basically signing your life away to become a slave.

>> No.55950286

>it’s going to just go up forever no matter what
Ok let’s revisit this thread in a year

>> No.55950354

it could be a filter the real estate agents use. theres one they use on the sky and windows. it also just ups the saturation a little bit.

its a fucking disgusting practice but no one pulls them up for it.

>> No.55950374
File: 1.34 MB, 844x634, Opera Snapshot_2023-08-27_123143_photos.zillowstatic.com.png [View same] [iqdb] [saucenao] [google]

lol here you go


>> No.55950381
File: 1.26 MB, 958x576, tatertot.png [View same] [iqdb] [saucenao] [google]


>> No.55950387

open the images for the listing and flick back and forward between these images.

>> No.55950420
File: 275 KB, 1755x1256, 1693002449306858.jpg [View same] [iqdb] [saucenao] [google]

>i...it's not a bubble
says the increasingly desperate hoomer

>> No.55950467

This is bullshit lies. The only people buying real estate right now are old single women with divorce or life insurance payouts paying all cash.

>> No.55950689

Cool story Zillow fag. Keep me posted I know you will.

>> No.55950778

I just bought a house at 6.5% and my mortgage is $2700 a month ask me anything

>> No.55950822

That's not bad. My area is completely fucked due to property taxes and high prices. Typical monthly payment on anything decent is 4k/mo minimum

>> No.55950836

>2700 a month
>anything decent is 4k/mo minimum
$1300/mo gang inna decent home/neighborhood reporting in

>> No.55950915

this. and seeing as its in the rural midwest, enjoy wind and hail fucking that shit up constantly.

>> No.55951052
File: 96 KB, 1024x800, 1690877844300143.jpg [View same] [iqdb] [saucenao] [google]

Never was a bubble, housing hasn't even kept pace with debasement, don't buy a house tho, DCA into BTC, you need a better short of the fiat shitcoin than housing to make it.

>> No.55951061

>people are lining up to buy a $400,000 3 bedroom house in a place with no jobs, ugly geography, and no amenities
These buyers are going to be underwater from the moment they buy until the moment they die by rope in 6 years

>> No.55951076
File: 37 KB, 844x502, 1648336154592.png [View same] [iqdb] [saucenao] [google]

No. Inventory is a measure of houses for sale, total units/population is fine, housing is not a bubble because the massive debasement over the last 50 years, not because of demand/supply imbalance.

>> No.55951093

30% expansion of money stock will do that

>> No.55951176

And people's wages increased by 30% as well didn't they? Fuck off shill.

>> No.55951195

And then one day, for no reason at all, millions of people got forclosed on in the span of a year.

>> No.55951196

Those 9 young families can't afford 7% on $429k. they think they can because they're retarded, but they can't. The foreclosures are coming for these people. Then housing will crash.

>> No.55951199

Americans be like
>omg 400k for a house is so expensive ;(
The fuck is wrong with you people?

>> No.55951202
File: 1.00 MB, 1870x1401, 1690042211552683.png [View same] [iqdb] [saucenao] [google]

No, of course not, but just as wages have lagged for the past 50 years, debasement inflates assets regardless. Debasement is a parasitic transfer of resources from income earners to oligarchs, crying about it won't stop it, as Greenspan correctly states, all we need to do is Short the Shitcoin, with BTC we finally have the technical means for practical grassroots capital flight from fiat, and the State can't do shit as it no longer has the memejuice to pull an FDR and criminalize the new gold.

>> No.55951206


So you're too retarded to understand median house price and median income? I found what's wrong with you pretty quickly. You are a fucking idiot.

>> No.55951209

or you are a pathetic poorfag

>> No.55951222

>30% expansion of money stock will do that
>”that” being a 150% increase in housing prices over 3years
Your math isn’t mathing

>> No.55951247


So you come online to larp like you're rich? Pathetic lmao.

>> No.55951382

Marriage is already for rich people
Buying a house requires two incomes
Having a family requires a house
Fuck im not gonna make it bros

>> No.55951652
File: 225 KB, 569x715, 1689165224669750.jpg [View same] [iqdb] [saucenao] [google]

MSPUS Q1 2020: $329k
MSPUS Q1 2023: $436k
32.5% increase
M2 Jan 2020: $15.4T
M2 Jan 2023: $21.2T
37.6% increase

Inflation is always and only a monetary phenomenon.

>> No.55951659

You're 100% lying on the internet. (A rare thing, I know)
Nothing is selling in my town. The supply has been building up non stop too

>> No.55951932


>> No.55951939

Rentoid alert

>> No.55951944

>watch Big Short on netflix
>come to /biz/ as a newfag about how the market is crashing

>> No.55951951

Coworker is paying the real estate taxes for his granddaughters home. When they reassessed it shot up to ~1k a month and they just couldn’t pay it.

>> No.55951963

>Rentoid alert

Says the cuck who pays property tax on something he supposedly "owns". LOL

>> No.55951966

>show up to open house
>9 cars in front of house

It's possible they are actual buyers but it is also likely that the real estate agency has people show up to pretend to be interested just to increase the number of offers and the amounts. It's pretty simple and most people are going to fall for it. It's almost like making multiple accounts on ebay and bidding up your own auctions, or doing the same with amazon, buying your own products and leaving yourself positive reviews.

>> No.55951976

I got a quote for a house in my childhood neighborhood that I was considering. Taxes, insurance, mortgage, etc comes to like $5000 a month. This is for a house that has a leaking oil tank buried in the yard, the roof is caving in, a tree is growing into the side of the house, and the previous owner punched holes in the walls. Real estate is fake and gay.

>> No.55951981

That's around 11,000 a month on a 1.5 mil home at 7.53% when you include tax and insurance you need an income of around 300k for those or about 2% of households. A 400k home is around 3500 a month, which is sort of affordable
For incomes around 120k. The only way we see a large housing downturn is if unemployment goes up

>> No.55951982
File: 229 KB, 558x491, 1688731206509283.png [View same] [iqdb] [saucenao] [google]

This is the most ridiculous cope I have read all month bravo. Yeah a realtor is going to hire fucking actors to visit his listings wtf lmao u absolute monkey

>> No.55951994

If you are not in the west or east coast, there is no bubble.

>> No.55951998

>hire actors
Or ask friends or maybe they work in the same company.

>> No.55952026
File: 177 KB, 1125x602, HousepricetoincomeUSACANADA.png [View same] [iqdb] [saucenao] [google]

With my government bringing in a million immigrants a year while building hardly any new homes, yeah, housing ain't crashing any time soon.

>> No.55952076

that's my point, it's entirely reasonable for a single person to buy a 400k home. A dual income married couple is not even going to be phased. If you can't save up 20-25% down payment as a married couple, then it's probably not the right decision to get a home yet. But everyone is used to near 0% interest, little money down on a 250k home. That may likely never happen again.

>> No.55952154

>If you want a house you need to get married and combine incomes.
I'm personally betting on crypto for my housing needs. I made $300K off of crypto last cycle, but ended up holding it for reasons, so now I'm going again. I feel like after the next cycle I'll be able to buy a house anywhere.

>> No.55952159

Yeah, but the problem is all the 700k homes around large cities are out of reach with current rates. 400k is ok still, but when 5% of the country can afford 33% of the homes there's a problem.
Again this is only sustainable until unemployment goes up, which would cause a moderate downturn of something like 20%

>> No.55952756

I'm honestly going to try and accumulate 3-4 houses during this period. I really don't think it will crash, I think the price will keep going up. I have a few years of contracting experience, I might just buy the house, do some small TLC (floors, tiles, new applinces) and put that baby up for a decent rent. Only way to make it through

>> No.55953143

You’re retarded, I got married at the court house when I made $30k a year and now I have three children and make $140k a year

Don’t make excuses because you’re a loser who is projecting

>> No.55953161

Correct, but they weren't given 24-48 hours to make the most important decision of their lives while also having to forego inspections.

>> No.55953173

Hope your 50% is enough to help you rebound after, anon

>> No.55953186

Just stack xmr and chainlink so you have the resources for smart contract hits on the darknet for any normgroids that get in your way with zoning laws when fiat collapses. There housing solved.

>> No.55953425


>> No.55953436

i bought this bitcoin for $9k now it's valued at 69k no way I'm selling. Glad I got in at peak deal. I feel bad for other young people. They're fucked for years

>> No.55953590
File: 57 KB, 1330x616, freddie.png [View same] [iqdb] [saucenao] [google]

tick tock tick tock tick tock

>> No.55953661

Canada: the nightmare continues.
This graph doesn't capture Canada having far higher marginal income tax rates. This means even if you get a better job you can't work your way out.
You are trapped.

>> No.55953690


Canada isn't even a country it's a WEF laboratory to see how badly you can mangle a population for the benefit of elites.

>> No.55953863

See: >>55951652
$1T is only $727B in Jan 2020 dollars

>> No.55953884

Just financed a mortgage.
765k home price
100k down
7.5% rate (had to spend 2200 to buy that down from 7.8)
Total payment with pmi insurance and all ((other)) associated costs. $5800
What am I in for bros?
2200 SF, half acre lot. Won't say city but it is a white man's paradise.
I do have a house down in mex that is paid off. Airbnb income should meet or exceed mortgage payment.

>> No.55953930
File: 1.14 MB, 750x920, aumFl65.png [View same] [iqdb] [saucenao] [google]

>Airbnb income should meet or exceed mortgage payment.

>> No.55954072

housing is a permabull, there are too many factors and influences with vested interest in prices never falling – it might not be fair but it is what it is, better to try and get in than fight it

>> No.55954080

>Total payment with pmi insurance and all ((other)) associated costs. $5800

tech guys really live on another planet financially

>> No.55954107
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Yes it's a bubble.
But it's an iron bubble that globohomo exists to protect. The housing bubble will pop only when fate ushers in a new era. We may not live to see it.

>> No.55954120

Is it a mostly white area?

>> No.55954130

You can buy mansions in black neighborhoods for like $80,000. It's literally a white housing bubble.

>> No.55954149

That's renting 12 days on average per month over 12 months. Actually pretty doable.
It is in a very coveted beach town in the most desirable area of town.

>> No.55954158

I am not a tech bro. Have a very blue collar business. Like bottom of the barrel trade even for tradesman. Just been doing it a long time.

>> No.55954170

If it’s not in Mountain time zone you’re simply lying to yourself

>> No.55954210

>Housing Bubble



>> No.55954393


>nigger robs you
>shoot him
>jewish media declares you a nazi and jailed for life

People have realized the Jewish system is rigged that the only solution is not being around niggers in the first place.

>> No.55954417

why does everyone forget that pandemic mortgage assistance never ended. Pandemic mortgage assistance is keeping over 1000 boomer homes off the market in Pennsylvania alone.

>> No.55954462


Ah so hoomers are nigger welfare leeches?

>> No.55954494

>400k is affordable for a single person with a decent income.
Mass layoffs have started. The FAGMAN ones from last year were just the start, news media be damned. The WGA strike is essentially a layoff, Bioware just eviscerated their senior staff, so stuff is trickling down from the technical to the creative sector. Just wait for it to services.

>> No.55954501

not all but enough to keep the inventory issue alive and well. how convenient and totally not socialism because it benefits boomers.

>> No.55954512

If you think it's farfetched, you've never known realtors.

>> No.55954548

>400k is affordable for a single person with a decent income.
i'd need to hit $140k/year to afford a $400k home (with 20% down) on my income alone.

>> No.55954611

You're going to be underwater by 2025.

>> No.55954625

I live near where black millionaires do, and while their housing values are certainly lower than they would be in white areas, they're still ridiculously expensive and out of the range of the vast majority of Americans.

>> No.55954662

Nobody wants to pay rent. Seriously, there's a reason people are apeing in on homeownership. The value of house never substantially goes down, your payments return to you in the form of equity, you aren't subject to rent increases, and so on. As long as you can afford the mortgage there is zero downside.

>> No.55954726

Correct, however the recent inflation for the last ten years or so has been the greatest wealth transfer in history. All of that money went into assets and equities, 90% of which are owned by the elites.
It's literal Zimbabwe style inflation we started getting under Obama kek

>> No.55954791

immigration and printing make a housing crash a mathematical impossibility

>> No.55954936

Bush, actually, but yes.

>> No.55954983

There is no supply imbalance, see: >>55951076, you only view prices as high because you've allowed your income to crater, adjusted for money stock prices are well within historical norms

>> No.55954996

>If you want a house you need to get married and combine incomes.
You need to stick it to the jew not enslaved another retard

>> No.55955015


>> No.55955022

most of texas is farmland

>> No.55955026

How is this sustainable though? If the winning strategy is just "buy now because the appreciation YOY will eclipse any other investment you could possibly make" then everyone would be buying and prices would approach infinity. Which is already kind of happening. But at some point, you are overpaying.

>> No.55955075
File: 34 KB, 763x432, psychology-of-asset-bubbles.jpg [View same] [iqdb] [saucenao] [google]


What truly makes it a bubble is what is happening right now with people saying that "prices will never every decline they will go up forever." That's what allows the bubble to reach such insane heights it eventually collapses. There's no question that it's a bubble the only question is how long it takes to collapse in on itself.

>> No.55955076

>Namefag cant read and is retarded

>> No.55955086

>married and combine incomes

Too bad you did the nwnp, lmao

>> No.55955100

This. There are multiple “it’s a new paradigm!” posts ITT alone lol

>> No.55955109


Well currently baby boomers are telling me stock market and housing market always go up forever especially the blue chips stocks. So I guess its goes up forever.

>> No.55955122

>listed by Andrew Tate

>> No.55955128


Also towards the end in 2008 they started offering insane financing for overpriced homes like the 1% Zillow is doing now. No bank in the world would do that.

>> No.55955129

it's not sustainable. look at existing home sales volumes, we're at like 2008 levels of sales.

>> No.55955167

I will give this hoomers this; I agree the housing market will never truly “crash.” Globohomo ensures the bottom won’t fall out. HOWEVER, anyone thinking housing isn’t getting a healthy correction (<-20%) within the next 5 years is absolutely delusional.

>> No.55955173
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The only thing not completely rugpulling the market is the Soviet style press repeating that we're not in a recession despite layoffs every day. When the economic pain sets in that inventory starts to free up.

>> No.55955176

Anon. This is just for your help and I will only say it once.

You are sealing your fate as a loser with these comments. You are creating your reality, or more likely, allowing others to bait you into creating this reality.
You can change, and I'm not kidding, it starts by ceasing to post like this and with this attitude.

>> No.55955196
File: 692 KB, 1000x688, 1675019736090166.jpg [View same] [iqdb] [saucenao] [google]

Based knower of truths

>> No.55955199


Oh so the 50% of marriages ending in divorce with 80% of them initiated by women didn't "create their reality" well enough?

>> No.55955225
File: 304 KB, 1036x1044, IMG_3960.jpg [View same] [iqdb] [saucenao] [google]

You were based posting just a moment ago and you had to ruin it with this incel comment. Let me help you, Anon’s point is not about the statistics. It’s about being the type of person who quotes divorce statistics whenever someone mentions they are married.

>> No.55955229

This is very similar to my situation except I put 20% down. In a nice city in Montana. Fingers crossed it doesn't crash but only goes up when rates drop.

>> No.55955231

I really depise people like you, who think the answer to life's woes is to lie to yourself

>> No.55955245

Obviously not.
Thanks for agreeing.

>> No.55955251

What lie did I tell?
The post here gets it. >>55955225

>> No.55955253


I'm demonstrating the mathematical impossibility of the platitudes you're shitting out and you're attempting to shame me about it because you expected to be praised for our "deep wisdom" for handing out basic bitch advice from The Secret or some other Oprah book club bullshit.

>> No.55955294

Dang the bears are gay nerds meme really is true after all…

Hoomers, I kneel. Houses to the moon.

>> No.55955303


I'm sorry your ego got hurt and you felt the need to try to insult me again. If you're that fragile I'm doubting you maintain the relationship you claim to.

>> No.55955321

How tall are you kek

>> No.55955330

That's a really nice house. A lot of people are willing to eat the high interest rate now and refinance in a few years when they go back down.

The appeal of a place like this is way greater now than it was a few years ago. That reflects in the price. People want to GTFO of the cities, badly.

>> No.55955358

The value of nice houses in nice areas increased dramatically between 2020 and 2023 because of nigger riots and COVID faggotry. Don't underestimate the value of getting away from this stuff. People want out of their shitholes and they are willing to pay whatever it costs to do so.

>> No.55955553

It would be a bubble if the population (aka house purchasers) was stagnant - its not. It's gone straight up as infinite unwashed hordes invade the country.
The prices aren't going anywhere but up until the population takes a sharp dive

>> No.55955596

Is it possible you are shitty like the people that get divorced and that you could, with effort, NOT be shitty?

>> No.55956431

>buy house 5 years ago when everyone on /biz/ was saying real estate is a bubble
>everyone saying just invest down payment and wait for the crash
>house worth 2x what is was, even if housing crashed I'd still be way up
>rents have gone up so much my mortgage+taxes is now less than half of what renting a comparable property would be
Just buy a house. The line is unironically going to go up forever, and even if it dips a bit for a few years, still beats getting your rent jacked up year after year.

>> No.55957158

My landlord sold my unit and the new landlord jacked rent to double what it was. No where else in town is cheaper though, housing costs are just insane.