Home Ownership

[myrddraal]

Originally Posted by Jibartik [You must be logged in to view images. Log in or Register.]

I am having a hard time understanding the housing market.

I often hear this one response when someone points out that millennials can't afford to buy one:



But.. Am I the only one that is like, wait we're at maximum occupancy here? There are more people than homes can be built? [You must be logged in to view images. Log in or Register.]

Like...

Are we at a lack of supply because we could have many more houses than we have, but we just wont build them?

Or are we at a lack of supply because we're reaching maximum occupancy and no mater how you shake it, we're screwed?

I just seem to think that if we have more demand than we have supply of homes, that it's not a solvable solution.

Do we think that new towns are going to open up in Nebraska and that will solve the housing issue?

I just dont see how supply of homes being a problem can just be fixed. [You must be logged in to view images. Log in or Register.]

We aren’t at maximum occupancy, shitlords are buying houses and leaving them vacant as an investment. We have more than enough houses to end homelessness but don’t.

The reason we have high demand for new houses is the low interest rate, which is also why we have such crazy high sales prices right now (especially people, poor people...comparatively poor people) because it’s cheaper for Californians working from home to buy a house in Nebraska or Wyoming for 50k+ over asking price than to stay in California. It’s not their taxes that’s pushing them out, it’s the price of land itself. This has led to a housing bubble that once the moratorium ends, will make the 45 million+ delinquent or behind on their mortgages be foreclosed on, causing another market crash. The price of houses will drop, but only people with capital will be scooping them up so they can turn around and rent them out, which means with tons of new renters on the market, rent prices go up, and the poor get poorer with increased rent. Trump fucked the American people hard. All the people who bought a home for over value as well will also be fucked because they won’t be able to refinance once the market crashes.

The housing crisis has been explained to you now.

[Evia]

Originally Posted by myrddraal [You must be logged in to view images. Log in or Register.]

We aren’t at maximum occupancy, shitlords are buying houses and leaving them vacant as an investment. We have more than enough houses to end homelessness but don’t.

The reason we have high demand for new houses is the low interest rate, which is also why we have such crazy high sales prices right now (especially people, poor people...comparatively poor people) because it’s cheaper for Californians working from home to buy a house in Nebraska or Wyoming for 50k+ over asking price than to stay in California. It’s not their taxes that’s pushing them out, it’s the price of land itself. This has led to a housing bubble that once the moratorium ends, will make the 45 million+ delinquent or behind on their mortgages be foreclosed on, causing another market crash. The price of houses will drop, but only people with capital will be scooping them up so they can turn around and rent them out, which means with tons of new renters on the market, rent prices go up, and the poor get poorer with increased rent. Trump fucked the American people hard. All the people who bought a home for over value as well will also be fucked because they won’t be able to refinance once the market crashes.

The housing crisis has been explained to you now.

Pretty solid post.

[Pulgasari]

Originally Posted by Evia [You must be logged in to view images. Log in or Register.]

Pretty solid post.

The homeless housing bit is a lark but yes.

[Gwaihir]

Originally Posted by myrddraal [You must be logged in to view images. Log in or Register.]

We aren’t at maximum occupancy, shitlords are buying houses and leaving them vacant as an investment. We have more than enough houses to end homelessness but don’t.

The reason we have high demand for new houses is the low interest rate, which is also why we have such crazy high sales prices right now (especially people, poor people...comparatively poor people) because it’s cheaper for Californians working from home to buy a house in Nebraska or Wyoming for 50k+ over asking price than to stay in California. It’s not their taxes that’s pushing them out, it’s the price of land itself. This has led to a housing bubble that once the moratorium ends, will make the 45 million+ delinquent or behind on their mortgages be foreclosed on, causing another market crash. The price of houses will drop, but only people with capital will be scooping them up so they can turn around and rent them out, which means with tons of new renters on the market, rent prices go up, and the poor get poorer with increased rent. Trump fucked the American people hard. All the people who bought a home for over value as well will also be fucked because they won’t be able to refinance once the market crashes.

The housing crisis has been explained to you now.

So what you're saying is. Get capital right now ahead of the crash so you can buy the dip

[Patriam1066]

Originally Posted by myrddraal [You must be logged in to view images. Log in or Register.]

We aren’t at maximum occupancy, shitlords are buying houses and leaving them vacant as an investment. We have more than enough houses to end homelessness but don’t.

The reason we have high demand for new houses is the low interest rate, which is also why we have such crazy high sales prices right now (especially people, poor people...comparatively poor people) because it’s cheaper for Californians working from home to buy a house in Nebraska or Wyoming for 50k+ over asking price than to stay in California. It’s not their taxes that’s pushing them out, it’s the price of land itself. This has led to a housing bubble that once the moratorium ends, will make the 45 million+ delinquent or behind on their mortgages be foreclosed on, causing another market crash. The price of houses will drop, but only people with capital will be scooping them up so they can turn around and rent them out, which means with tons of new renters on the market, rent prices go up, and the poor get poorer with increased rent. Trump fucked the American people hard. All the people who bought a home for over value as well will also be fucked because they won’t be able to refinance once the market crashes.

The housing crisis has been explained to you now.

I’m going to buy a fourth home, maybe fifth, once this happens for rental property. Where do you live? You sound entitled so I’d like to do it in your area and drive your prices up

[myrddraal]

Originally Posted by Patriam1066 [You must be logged in to view images. Log in or Register.]

I’m one of the shitlords you described lol

[Gatordash]

Originally Posted by myrddraal [You must be logged in to view images. Log in or Register.]

Trump fucked the American people hard.

Biden is dumping $40 billion a month in MBS and another $80 billion a month into the stock market. 90% of the market is owned by the top 10% of earners. So whether trump or Biden is in office, neither gives a shit about the middle class and both are widening the wealth gap.

[myrddraal]

Originally Posted by Gatordash [You must be logged in to view images. Log in or Register.]

Biden is dumping $40 billion a month in MBS and another $80 billion a month into the stock market. 90% of the market is owned by the top 10% of earners. So whether trump or Biden is in office, neither gives a shit about the middle class and both are widening the wealth gap.

He's also being forced to either allow inflation to go absolutely crazy if he doesnt put an end to the moratorium on evictions / foreclosures and drive property values out of the reach of buyers or force millions into homelessness or foreclosure, and everyone is going to conveniently forget Trump got us into that mess to begin with for bungling his handling of covid.

[Gatordash]

Originally Posted by myrddraal [You must be logged in to view images. Log in or Register.]

He's also being forced to either allow inflation to go absolutely crazy if he doesnt put an end to the moratorium on evictions / foreclosures and drive property values out of the reach of buyers or force millions into homelessness or foreclosure, and everyone is going to conveniently forget Trump got us into that mess to begin with for bungling his handling of covid.

What policy could Trump have made that would have saved us from Covid? The vaccine is the reason cases are going down, not sure how you think it could have been developed and distributed any faster than it did. The inflation is transitory due to supply not being able to keep up with demand and a lot of that is due to Biden's policies slowing economic recovery.

[Gravydoo II]

Tell it. My cousin is a fuckin slum lord. He always bitches about people getting money from the government but he will only rent to people on government benefits. His daddy is a millionaire and he made his nut when gambling online was legal. Dude raked it in. Now, he buys houses, paints over the mold, then rents exclusively to people on benefits because he gets paid before they do.

This happened in china. A million landlords died.