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This is absolutely a horrible situation. Thankfully not all markets are affected equally. I remember recently you asked in passing how nice a city Nashville TN was to have a business. Well it's a good place for a business and the housing market is far more affordable, especially in the suburbs.
If you are looking to become a homeowner, and looking to move your business, it might be a good option. Just sayin'.
So after the last housing fall, people blamed all the poor minorities that bought houses they couldn't afford. At the time the banks got in trouble and needed to be bailed out. So now the banks won't be in trouble because the fed is buying all the loans so the banks are golden. Tax payer will still be on the hook for it because the fed has the loans and will probably say the deficit is so bad because all those poor people got stimulus checks.
Who is the guy and what are his credentials? No you don’t read an article and claim its the be all truth of any topic. This is why we teach basic research methodology. What he does not tell you is that there is a house bubble that will burst and prices will come down. The idea that you must buy now means prices are going to come down. He forgets that inflation is real meaning its absurd to claim that you paid more than your parents. You make more than your parents! Using extreme examples is not research!
Marx predicted this.
The majority needs to rid these people, your life depends on it. They make a full time career trying to extort human life and stealing your lifes efforts..
It's not going to "burst'.. it is a strategic method to try to strip people of all their built wealth, BY the MOST wealthy..
You'll own nothing and be happy, the new normal.
If institutions buy up all the properties then they can have a monopoly, and artificially restrict market supply to keep prices high. Then they can use the high housing market prices to use their unused "parked" houses as collateral against loans at the same artificially inflated value.
Here in NE Texas we have a chicken shortage: biscuits are low : no jalapenos at the Whataburger, and appointment needed for oil change, all cause the 'vandal stole the handle' : bgates et al buying up farmland by the square mile,chinese buying our ports and big hog farms Smithfield, and the little man hunkered down cause of a kung flu.. which was a test of behavioral response to a : if… then scenario /// soon as they work the bugs out there will be another test .. and then the final coup de gras…. gather and prepare… Are YOU ready?
I was incredibly lucky, I purchased my home in Portland, OR at 20 years old, I worked my fucking ass off for it but I don't think it would be possible today anymore…. sad
That bubble will burst like 2008 but WAY WORSE!
This is The Great Reset Louis. Soon there will be housing as large numbers of people begin to die off next couple of years, according to Deagle.
We all hope it'll burst but govs can't afford it to. Too many rich people with false wealth tied up the bubble to let it burst. Rich people who are gov or friends of gov.
Even if you are sitting there in your own home, thinking it is nice to borrow against your inflated equity stake… Where are your children going to be able to afford to live?
Our only hope now is move down to south America
Stop voting for democrats and this will stop happening.
Don’t you understand that they have literally stated a goal: “To make the suburbs like the inner city” to do this? They need to buy your home, or stop single family housing from proliferating.
Blackrock is made up of multiple companies buying homes for 50 to 70% over retail.
There is a reason for this.
It will only get worse…..
the whole concept of money has been changed over the last year and those with access to money will reap the dividends.
Even now… the U.K. government is paying up to $3,000 a month to keep healthy people in their homes. My neighbour hasn’t worked for nearly 18 months and bought a new $23k car in October…that’s hardly moved off the driveway.
Chinese money is everywhere, the chief executive of Liverpool council is on trial for building fraud where Chinese investors were conned out of the life savings.
Biden is spending trillions on infrastructure, that will more likely end up rich peoples back pockets.
At the moment a lot of people are flush with money. They don’t have to spend thousands getting to work in the big cities.. they are still receiving big city salaries but working from home, miles away. When will these big corporations realise that they can get the same quality staff for a lot less money somewhere else. Years ago the easy jobs went to Far East and places like the Philippines… the better, more highly paid jobs couldn’t be moved as they had to done in New York.. Boston.. Chicago.. news flash… they don’t… that’s been proven,
My local GP doesn’t take visitors,.. you have to email your symptoms to them.. they could be anywhere in the world for what we know.
Within 10 years, a lot of the highly paid jobs will leave the country and where will we then ?
Covid has just moved more money from the young and poor to the old and rich.
This is not going to end well..
It has been building up for a while but the main thing that drove these prices up was the corona restrictions that were crazy in many areas. Australia in particular has been draconic in this regard, so no surprise that houses around Sydney are so expensive. I don't mind the fact people started to realize that real-estate have value, maybe it's how I was raised, that it is normal to pass it on from generation to generation and value it.
I have a cousin who is in Munich, and was considering buying a house when the pandemic broke. Both he and his wife have good jobs and are renting an apartment, they also have a young child. My uncle was telling me how the crisis will bring the prices down as many who lose jobs will have to sell because they bought above their means so the prices will go down. I guess that was their logic, but how wrong they were. So many people forced to be stuck in an apartment in the whole city felt like living in prison. Many people in similar situation like them decided to start thinking about owning something with a yard, they adjusted their priorities towards it. Suddenly two vacations a year were not a priority for most who were able to afford it, but maybe one, and on a budget. The pandemic made people look around their small apartment and think to themselves "this is all I really have". Everything else can be locked out from me by a city ordinance in a blink of an eye.
Thing is, not that many people who owned property were on the verge of going to a poor house because of the pandemic. The state in rich countries also intervened and helped out not to lose money even if your business was suffering. Maybe you couldn't make what you normally would, but still. Banks were also told to prolong due dates on loan repayments if the person who took out a loan was suffering financially due to the pandemic.
Those who really did suffer were usually fresh migrants on limited contracts or visas. But they were never in the market for million euro houses anyway.
My cousin still didn't buy that house. And seeing this video I can understand why. I can understand why many people didn't. But I don't expect the prices to go down any time soon.
The people won't forget what the pandemic did to them and many will still want to buy it. The harder something is to achieve the more valuable it becomes. Sure, many will give up when they see how difficult it is but still enough will persist to keep the price high.
Even apart from the pandemic, more and more people from poorer countries are getting the chance to move to richer places, many planning to stay there "temporarily", ending up staying there for 40 years and more.
They end up moving there permanently.
But still plenty of those who just see life in a richer place as a means to support their "real life" at the home country. This means they are willing to accept ungodly living conditions making the prices go up for even a poorly ventilated pigsty of an apartment.
Then you have really rich people not minding to spend for their 4'th and 5'th apartment or a house, driving the prices up from another end of the spectrum, knowing their investment will hold value.
The bubble may be real, and it may burst, but it will quickly reinflate.
Print more money & prices rise. It's nothing to do with remote work. Generation X felt the same way in 2001 when prices jumped from $200,000 to $400,000. You just have to buy in & assume your salary will double in the next 5 years, which it will.
Is there somewhere in England that does what you do?
its part of communisim that is installing under that dictatorship
Correct it will not happen. Buy somewhere where it's cheaper and rent it to someone to build your equity. Cash is raised in the system by property price increases and the balance sheet of our banking system is secured against property at the higher values – it cannot drop. The Swiss pass their mortgages to their children.
Your kids get a home when you die and leave them one.
I gave up on the thought of owning my own home years ago. I realized that because of impending collapse, I would be much better off investing in technologies that would be core to production of the new economy.
The king owns the property you live on and you will pay a tidy sum for living there.
"Own nothing and be happy" commie agenda being pushed by world economic forum, and blackrock buying up all the houses so we become renters forever, and bill gates buying up all the farmland to ban meat. There's mote going on than people realize and it needs to be addressed fast.
I think the biggest overlooked reason for wanting to own instead of rent, is the ability to simply do as you see fit with your house. There's no point in replacing that appliance you don't like, installing a water softener, or getting a more efficient HVAC system in a rental, because at the end of the day, you still don't own that unit, and there's no guarantee that you'll keep it. People are tired of living in crummy spaces.
I'm waiting for the market to collapse again so I can buy on the dip XD
Lol, you still pay rent just to the city now bud. It's a joke, renting depending on the circumstances/location can be better.
is this a reupload? i feel like i saw that years ago..^^
Wait for the eviction moratorium to end.
The only real solution is no longer choosing to live in homes…seriously mass exodus elsewhere and let the company 'investments' burn themselves.
Also sell all your stock/etfs that mention blackrock when this begins.
The jobs will follow the populous unless they are resource based…hell entire economies are built on "retirees" where I live.
BUY BABYDOGE AND YOU WILL, TO THE FREAKING MOON
In tokyo, they said it takes 5 generations to buy an house !
Anyone remember this???
The United States housing bubble was a real estate bubble affecting over half of the U.S. states. It was the impetus for the subprime mortgage crisis. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2012.
Hasnt even been 10 years and we are on that same money train goin out of control again, Hey feds, anyone in Washington seeing this? Oh I'm sorry, you guys thought you were the only ones that live in America, thats ok, go back to your childish infighting and drama, all us tax payers will fix it again I'm sure….
Hopefully, it will attract people to smaller cities, and stop people from moving to big cities. The US, Canada, Australia or China are big countries and people agglutinate in a few square miles which is ridiculous.
I was able to get a simple 3br home. Because my wifes father died and my my father gave me some money. This was 3 years ago. The value of my home is up 40%. My wife and i have 3 jobs and theres no way we could have afforded this home at todays prices. This reminds me of sw florida in 2006. Its going to be bad.
You hit the nail on the head with that ending. May 2018, I looked at getting a condo. I would have had to put 5% down to afford it, but when I looked at the risks should something happen, like a major appliance breaking, or repairs being needed on the condo building that might raise fees out of nowhere, I realized that I'd be better off saving for 20% while I continued to live in an apartment 3 more years. Now the same condo has gone from 260K to 415K. There's zero chance that I'll ever be able to afford a down payment at the rate at which prices are inflating now, and I'm seriously concerned that, not being able to ever have a chance to own, I'm going to have astronomical rent prices the rest of my life, to the point that I need significantly more in retirement savings to plan for paying high rent prices until the day I die. It's demoralizing to be punished for not wanting to contribute to the next bubble like I saw happen in 2008, by taking a loan that was for more than conventional wisdom said I should bite off.
Meanwhile, I see acquaintances on social media that bought at 5% down around the same time now using the value their first house has gone up as equity to buy a second house to rent out. Good for them; it's just taught me that doing the responsible thing isn't valued at all, and as soon as I have the chance to buy at 5% down, I'd might as well throw caution to the wind and pray the bubble doesn't burst.
Adorable 200 sq ft fixerupper, from the $1,200,000s
How do I sell my oklahoma farm in New York? Its 21 acres, I'll be a gazillionaire.
Yeah it's crazy what houses are selling for in my neighborhood. Easily up 50% in the last year. Time to sell and move back with mom! ?
Can't be taken away from you…. So long as council doesn't take a big of money under the table, and authorize development of your district.
dogecoin money only lasts for so long
"You will own nothing and be happy"
Don't believe what you read in the papers. Those stories are written by 20-somethings who live in cities and don't have a clue.
A lot of what is driving the costs up here in the UK is the petty older generations with their Nimbyism. They reject literally any building whatsoever. The North is poorer and denser but the south repeatedly says no more houses build them in the north and act all entitled. Then you have the assholes who don't want new houses built because they don't want their £800k plus house to lose £5k. A ridiculous example of this is down in kent there's a disused runway that's an ugly mark on the landscape. First, the residents got together and blocked the building of a new housing estate on the land, then they blocked plans to renovate the tarmac and make it an airport for light aircraft. They'd rather keep the old disused runway because of their house prices. Boils my blood that they're even allowed to block it in the first place.
I anticipate that I will never be able to own an actual home, rent will just keep increasing as well as housing prices and that'll be it.