/biz/ - Business & Finance

kek homies

>>49880902
>Average American home.

>>49880902
unironically zoom out

just two more weeks

kek priced out rentcucks

>>49880902
Just live with your family like in Asia

>>49880902
stay crypto, stay safu. Housing with your bags? thats literally propchain kek

house chads get to live in our bags

>>49880902
serious question to people who don't own real estate here, why do you think everyone is foreclosing? not talking about people with adjustable rate mortgages, they're a very small minority. most people have fixed rate mortgages, their monthly payments don't change generally. why would they suddenly be unable to afford what is essentially a fixed monthly payment? mass layoffs?

it's one thing to buy the top of the housing market and then have technically not gotten a better deal, but they can still afford the monthly payment, otherwise they wouldn't have been approved for a loan. laughing at them for buying the top is one thing but that doesn't mean the next step is literal foreclosure

>>49882229
gold gets a lot of shit for being exactly where it was 10 years ago. well so are houses

>>49880902
1/3 of all homes for sale in my area have a price reduction

>>49884001
>they can still afford the monthly payment, otherwise they wouldn't have been approved for a loan.
You are completely wrong about that. You should've seen some of these scumbags when I started shopping around.

>>49884197
Explain

>>49884197
most lenders won't let you have a monthly payment above around 30-35% your gross income, this varies by state based on prices and taxes etc but for most of middle America this is the case. how are the payments suddenly unaffordable inducing foreclosures? not asking in bad faith, genuinely curious
>t. mortgage payment is 17% of gross income

>>49880917
kek

>>49882229
Recession = foreclosures you fucking retard. It's going to crash and burn

>>49884123
>why do you think everyone is foreclosing?
Nigga. Read up on what a recession is and you'll get your answer.
Hint: People can't pay a mortgage without cashflow aka their jobs. That and people are over-leveraged as it is

>>49884123
Unlike 2008, mortgages held today are much more creditworthy. It's not going to be mass foreclosures when any nigger could walk into a bank and get a mcmansion

my rentoid quit his job after reading AntiWork page online. Now im late on my mortgage cus he didnt pay me. fuck

>>49884288
They have not lost their jobs yet, and the jobs to go will probably be mcbullshit for people who do not own homes. Perhaps the laptop class will finally get whats coming to them, in which case foreclosures will most likely go up.

>>49884319
Unlike 2008, everyone thinks they're some expert realesate investor and are over leveraged to buy their second, third, and fourth home.
There will be a cascade effect just like we've been seeing in crypto for the last month

>>49884360
>yet
no shit. We're not in a full blown recession yet but chances of one happening by next year are high

>>49884319
All that credit worthiness is built on a layer of pure shit. How do you not see this anon? We have had 12 years of unprecedented growth. There are a ton of bullshit jobs out there that will disappear overnight. It’s going to be a massacre.

>>49884371
Brrrr strategy seems kind of insane to me, I'll just buy their bags at half price and become a slumlord. Lots of HELOC were taken out during covid scamdemic by just normal homeowners at inflated values, I'm keeping my eye on that. Way too much debt.

>>49884483
I'm totally with you but the level of fraud and leverage in the economy is being held up with the full power of the Federal Reserve. They actually want to raise unemployment rate now, so you're probably right, but its going to be a slow burn imo.

>>49880902
Rent is skyrocketing though, how am i better off that my rent is about to go up probably 30-40%????

>>49884123
Rates need to stay high for probably atleast 2 years before we start to see housing crashing. Thats when a large portion of the pop. will have their fixed term end, and will not be able to afford the payments at the new rate, so they have to sell. Then a cascade effect will take place. Perhaps even a bit earlier than 2 years if a significant portion of the population holds property that they don't actually use except as rental or vacation homes.

>>49883899
Houses are set to fall 20% MINIMUM where I live, there are going to be so many seething retards who bought the tippy top and were proud of themselves.

>>49884239
That was changed to 50% in the past ~10 years.

>>49882192
>Average European home

>>49884001
until ur foreclosued