/biz/ - Business & Finance

>>52463056
Cool it with the antisemitism

>>52463056
It rhymes with “mews” and starts with a “J”.

>>52463063
well said, anon.

>>52463056
that's what happens when the immigrants are better than the native population, mutts truly are retarded subhumans kek

>>52463068
kikes!

>>52463056
>typical US home
I wonder what theyve classified as a 'typical US home'.

>>52463089
it says median price right there

this is the result of women in the workforce
thanks for playing goyim

>>52463112
>>52463079
But those are not as recent as this price growth

>>52463079
More like an army of NIMBY boomers have lobbied to not have any new construction threaten their property values.

>>52463056
>we cant build housing fast enough, theres so much demand!
>prices go up
>demand has shrunk, we're suspending all new construction
>prices go up
So tiresome

>>52463063

This is totally sustainable.

>>52463056
You need to be earning at least $140k/year to own a small house in a low cost-of-living state like Georgia thanks to increased interest rates on top of crazy inflation.

>>52463101
Median price is worthless because there are so many overvalued houses in cities and then all the tens of millions of dollars mansions and penthouses etc.

>>52463056
Lower class people were deluded into thinking they were middle class

>>52464056
Find me an example of an average house then and let's play out how much it will cost and how much you need to earn it. Then we will compare that vs the average income and determine how many Americans will end up homeless.

>>52463056
The crash isn't in full swing yet

>>52464076
3 bedroom 1 bathroom 2 car garage 1 acre block in a town with population of 40k people

>>52463692
Do you know where this is from? A paper or something?

>>52464100
Canton, GA is an okish town with a population of ~35k. Here's the cheapest houses meeting that description (cheapest decent one looks to be $328k). Let's say $250k.

>Median House
https://www.trulia.com/p/ga/canton/1968-york-dr-canton-ga-30114--2351545491
https://www.trulia.com/p/ga/canton/1280-pinyan-ln-canton-ga-30115--2029843422
https://www.zillow.com/homedetails/1160-Toonigh-Rd-Canton-GA-30115/51112169_zpid/
$250k mortage (probably more if you include closing costs and stuff) at 30 year fixed-rate 7.34% mortage = $1,721/month in payments. Let's say you put down $50k and get a better rate just below 7%, you're still paying just over $1,550/month. This is, mind you, for your cheapest options and is $100k less than the median (not the average, the median, so outliers on both ends of the spectrum are thrown out), so this is your best-case scenario.

>Median income
That means you need $7,750/month in income or $93,000/year to afford the mortgage after putting 20% down. This puts you right at about $135k/month in pre-tax income (https://smartasset.com/taxes/income-taxes#YAV29teebD).). Meanwhile the median household income (2 people) in GA is about half that, at $62k.

>TLDR: shit's fucked.

>>52463319
yeah we just need more shitty houses

>>52464297
I feel like deporting 30 million illegals would solve a lot of our problem. Dunno, that's just me though.

>>52464309
i wanna deport myself back to europe

>>52464320
Europe isn't Europe anymore.

>>52464239
>Looks like you're a renter forever!

>>52464325
/pol

>>52463056
capitalism

>>52464345
real-life experience

>>52464056
That’s why you go with median instead of mean, dumbass. I hope you’re a zoomer.

>>52464352
You are being mean just now wdym?

>>52463692
There's something seriously wrong going on. I think it's the "debt refinancing" bullshit.

>>52463692
inflation

>>52463068
Juice?

>>52464049
We spend half our salaries on rent. Spending 19% on mortgage payments is nothing. What are these boomers saying this bullshit for?

>>52464239
>you need to earn 135k before tax to afford a 300k house
Holy fuck you people are delusional!

>>52464239
>$1,721/month in payments
Is 20k a year by the way. A single person earning 60k a year can easily afford that. A couple with a joint income can more than easily afford it.
I really do not know where you get this "you need to earn six figures" bullshit from.

>>52464543
Sure anon, just spend 50% of your take home pay on your rent/mortage like >>52464535. I'm sure that will bring you success. You stupid fucks can't even do basic math but I bet you have some great ideas on how you'd fix everything.

>>52464535
>What are these boomers saying this bullshit for?
For demoralization.
They'd rather have people spend half their income on rent instead of spend half their income on a mortgage.

>>52464557
See >>52464550
And whats wrong with someone earning 40k a year spending half their income on a mortgage? They can live frugally and it would be to their benefit. Instead of pissing money away doing what else instead? Paying rent?
I dont get what kind of argument yorue trying to make here, fuck face. Mortgage is cheaper than rental payments.

>>52464550
>can
Yes, some people can do that. The majority of people, however, cannot. This happens when median incomes do not rise at the same rate as median housing prices and other basic expenses. $60k/year in income equates to about $4k/month in take home pay. Spending close to half your income on a mortage is retarded. Next you'll be laughing at those same people when they lose their house in a recession.

>>52464575
How old are you guys, seriously? First, if you spend over 20-28% of your income on a mortage the bank is going to charge you higher interest. Now you're wasting tons more money on interest payments (there's no way you're buying that house with cash at your income level). Second, recessions are cyclic and this pattern has repeated for literally centuries. Throughout your life you will encounter recessions, and if you overleverage yourself on your mortage you're going to lose your house or at a minimum the strain of making payments while everything else falls down around you will result in things like divorce, fucked up childre, etc.

In my experience 28% is still too much to pay and banks will convince you to overextend yourself so they get to keep the house and your payments because that's what maximizes revenue for them.

>>52463056
Mutts are voting for the most retarded, vile, corrupt, globalist candidates in the last 50 years.

>But they cheated. Votes don't matter.
Mutts also defend their politicians and their policies at family dinners.

>>52463063
this
i'm getting tired of the jew-bashing on this board
we need to empathise with the suffering of jewish people

>>52464309
My state's population has been steady for 2 decades and houses are still mooning

>>52464325
>50% immigrant US versus 10% immigrant euro country

>>52463056
Just live in the pod.
Just be happy.
What do you need an actual house for? Why are you so greedy?

>>52464447
The case shiller index price is inflation adjusted, what you are looking at is the real price of housing over time being entirely driven by interest rates. Interest rates have gone down for many years fueling price bubble. Now interest rates have gone up again but real estate takes years to unwind so the price hasn't adjusted (collapsed). The options are either we go tack to 2% rates in the next 12 months and housing doesn't collapse, or mortgage rates manage to stay above 4-5% for a few years (currently ~7%) and house prices collapse.

>>52463056
In China housing is just as unaffordable and people just live in multigenerational houses with their grannies. Isn't that what /pol/ wants, well it's about to happen

>>52465073
I mean if you don't have a family, you don't need a house. The fuck is a man supposed to do with more than 1 room? Maybe not a pod but a studio apartment is good enough for single life

>>52465057
Your documented population has been steady for 2 decades, your undocumented population has not.

>>52465779
Indeed.
And you should NOT want a family in the first place.
Just let us import millions of illegal aliens instead!
Don't you dare to have white children!

>>52463056
Why don't you just say that you "HATE JEWS", antisemitic bigot!

>>52463692
This is a scary graphic. Should not be undermined

>>52463056
i make $100k/year. at today's interest rates, i can realistically afford a $225k house (with a 20% down payment.) i live in southeast PA, in the suburbs of philly. $225k won't get me very much around here. but at least i'm in an upwardly mobile career. just need to grind until i hit $130k/year, then i might be able to afford a real house. i feel bad for normies making a dead end $50k/year.

>>52465779
The thing is I can't even afford a one room pod because the price difference is negligible.
There's the entry price even for a roach filled pod which is already a high ass bar for most.

My mom is a house keeper and my dad is a bus driver. Yet we own two houses.

Cities don't represent the entire country.

>>52466107
>Yet we
>we
your parents (not "we") likely bought 20-30 years ago. in the mid 1990s my parents bought 10 acres and a double wide. they were in their early 30s. at that time my dad was a factory maintenance mechanic and my mom was a stay at home mom. today their home is worth $250-300k, which i would struggle to afford as a corporate accountant.

>>52466162
We as a family you kike brained faggot. And I'm inheriting them.
No they mortgaged one house in 04 for $250,000 paid it off and is now valued at $400,000.
The second was a rundown house in 15' for $50,000 spent $30,000 to fix it up and is now about $130,000.

And good on your parents for giving you a house that you couldn't afford without their help because that's what parents and family are supposed to do rather than kick their kids out at 18 and tell em to rent an apartment.

>>52466076
By the time you reach 130k, the goalposts will have been moved to 200k

>>52466231
>By the time you reach 130k, the goalposts will have been moved to 200k
doubtful. i don't think home prices are going to crash, they'll just stagnate. i can hit $130k in another 18-24 months.

If you are single, you don't need your own house, unless your parents don't own one themselves.
If you're not single, you should combine your income with your husband's/wife's and finance your own house. Your combined income should easily exceed the aforementioned 130k.

>>52463056
does this article assume you'd be buying with a mortgage? because that would make sense. otherwise, the only explanation I can imagine would be that many rich people started selling their overpriced houses at once... and I doubt it

>>52463056
>It's a mystery? Sneed Janny
https://www.youtube.com/watch?v=krlJvRvK1N8

>>52463692
its just boomers refusing to sell low.

>>52464309
>deporting a bunch of people that can't, and don't, buy houses will lower housing prices
What a fucking retard.

>>52464550
>spending 80% of your income on a mortgage is perfectly fine, just work 5 jobs like Dave Ramseys says, goys


Fucking kill yourself you turbo-faggot retarded piece of absolute nigger shit. Shit is fucked dude, theres no denying it.

Housing is a human right. Anyone stopping new buildings from going up should be shot for treason.

>>52463056
I used to volunteer at a food bank program. All these niggers and spics that come here for free gibs own houses in the fucking bay area.
How? Bitch i make 6 figures i can barely afford rentinh

>if you're single you don't need a house
it is my human (white man) fucking right to have an area in which I can scream at the top of my lungs any time of day. Fuck apartments.

>>52467853
>just develop the entire earth into houses. No the problem is over population, which could be solved in a year if we exterminated all blacks, browns, and kikes. Say what you want but we all know its true

There was a place in kenfucky I was looking at 2 years ago
>was 100k then
>is 280k now
It's fucked, jim.

>>52467853
Fucked up the green text god damn it


>just develop the entire earth into houses.

No the problem is over population, which could be solved in a year if we exterminated all blacks, browns, and kikes. Say what you want but we all know its true

>>52463056
Out of control capitalism, we need to stop the white rich people and redistribute the wealth. Communism has always been the answer

>>52468928
>>52468957
>he believes in the over population myth
It's used to justify YOUR extermination, not just your enemies. The real problem is being intentionally flooded with unproductive people and forced to live within an open borders global community, so stop shilling globalist talking points.

>>52463068
Jolly good news

I'm glad the federal reserve is hiking rates, housing needs to crash at least 50% to be anywhere close to affordable for the average person.

Too many HELO flippers and boomers are milking real estate as an investment instrument rather than a place to fucking live and raise a family in.

>>52463068
jeux? this isn't a game anon

>>52468957
The real problem is that there is no one living in all those apartments that real estate boomers are hoarding. It has become more profitable to just have an empty property sitting around for mounths or years to resell it for profit later, rather than selling it immediately or renting it out. Just look at the fucked up ratio between real housing supply/demand compared to the price difference. Barely any new housing is needed, but it has still artificially shot up in price, all because of speculation and NIMBY laws. The only solution is to liquidate boomers and jews, or to relax laws on new constructions and punish empty secondary homes by some kind of fine/tax

>>52469061
>housing needs to crash at least 50% to be anywhere close to affordable for the average person.
You realize that your mortgage goes up in proportion to the reduction in the principle cost of the home right? And that the higher interest rates, mass inflation, and mass layoffs mean its harder for the "average" person to submit a down payment that makes the difference in principle actually have much of a meaningful difference on the carrying cost of a mortgage?

The interest rate knob is not a solution to the housing crisis because it doesn't address the fundamental problem. Housing will still maintain its relative value, the problem is no one is building enough housing to meet demand. And that problem will never be addressed because NIMBYism, policiticans, and big companies make too much money for that to change.

>>52465745
How do I short a house?

>>52463056
Boomer NIMBYism

>>52464613
Wait, really? You get charged more for being lower income? That seems kind of fucked.
Is it because the bank perceives you as a higher risk?

>>52469195
>Housing will still maintain its relative value, the problem is no one is building enough housing to meet demand

And where is that demand coming from? White countries have been seeing native born populations decline for decades. It's all immigrants driving demand, not boomers hoarding housing (which is retarded and fails to take carrying costs into account)

>>52469900
>White countries have been seeing native born populations decline for decades
Yeah this doesn't immediately translate into a smaller amount of housing though. Old people live way longer, and there are many more single people today as well. Decades ago, it was very uncommon to see unmarried individuals after a certain age. These days an average family having two kids will probably seek two more homes for their two kids. Way back when, kids would stay at home longer or be married and then move out.

>immigrants
Yes, this is a smaller factor in the US but a massive factor in countries like Canada. Canada is just straight up fucked lol

>>52464056
He said median not average.

>>52463669
With the 30 year mortgages in the US, the only path I see out of this mess is QE for MBS on new construction loans and QT on MBS for existing mortgage loans. Otherwise, those who bought pre-2021 will just sit on their 30 year 3% mortgages and pull the ladder up on millenials and zoomers.

>>52469451
>Wait, really? You get charged more for being lower income?
Seriously, I can't tell if I'm being trolled here. But yes, if you take on a higher amount of debt to income then you're higher risk and charged more because of it.

>>52464239
>these prices
What the fuck is the point? Looking at the price history of these shitboxes just fills me with rage.

>>52465040
Agreed and up-voted!

They never suffered more than when they were cruelly forced to murder 60 million Russians and starve 6 million Germans.

Enough is enough! Leave the Jews alone!

>>52465040
Imagine an event so real and numbers so concrete, youre not even allowed to question it

>>52467883
>they get free shit
>I work for free
>how am I poor and they're rich???
Bro have you tried noticing

>>52465040

>>52467883
Subsidized

>>52463056
Hitler attacked the Soviet Union

>>52463692
This graphic is misleading because it is not inflation-adjusted.

https://m.youtube.com/watch?v=1vAqaUwLg7g

>>52469381
drv

>>52463056
Massive wealth disparity is typical for third world countries

>>52463056
How is this possible? Blackrock doesn't put a dent in the greater market, must be something else. Poors financing homes outside of their means? Boomers holding onto their homes after moving to a Florida condo? Foreigners storing their wealth in real estate? Air Bnb?

>>52463692
>interest rates are high ->lot of potential buyers get priced out of the market, demand goes down, sellers lower prices to accommodate.
>interest rates are low -> potential buyers flood the market, demand goes up, sellers raise prices to take as much profit as possible.

Is this the right take on this?

>>52471974
yes the fed lowered interest rates to artificially keep the market growing, encouraging more debt.

they did it for too long and now a shed costs $250k oops sorry about the hyperinflation

>>52472099
but what do interest rates have to do with inflation? I thought inflation was because of the money printer going *BRRRRR*?

>>52463161
>need to make six figures to afford 38k a year
Yeah, no.

>>52472258
higher interest means less likely to get loan approved, and more likely to default. low rates almost the same as BRRRR.

>>52463056
We’re off the runway now. You and your bloodline had from 1600 to 1980 to make it.

>>52463319
>>52469195
>>52469437
>NIMBY
go back you fucking redditors
>>52463669
Lol retard. Here's how it really works
>Fed prints a shit ton of money
>Money is used to buy houses, creating artificial demand
>Oh shit! We need to build more houses to meet this demand!
>Fed cuts off money printer. Loans dry up
>Building grinds to a halt. Builders panic. Hoomers seethe and make cope threads
>Supply of homes magically shoots up

>>52469023
He's saying the population of niggers and kikes is too high. It's better to co-opt their talking points rather than fight against them.

Example:

A: A woman should have the right to abort her child for whatever reason!

B: I agree, a woman should definitely be able to abort her retarded child, and I absolutely support black women's right to abortion.

A: picrel

>>52471872
It is

>>52471807
imagine believing a literal nazi who has every reason to lie lmao

>>52466266
I’d say a big part of being an adult male is having a garage to work on cars and fabricate things
Sure, you can survive on apartment living, but it sucks

>>52463692
the main takeaway from this graphic should be that $ is worthless, 300k is the new 100k

>>52472258
Yep, and borrowing money means it must be printed.

>>52463056
Low interest rates/quantitative easing. Next question?

>>52463056
american low density suburbs are a pyramid scheme, only high density areas make money

>>52476766
imagine believing blatant lies from a race of liars of which the proof is completely non-existant and even bringing it up in any critical manner is deemed "anti-semetic", hateful etc. absolutely none of their claims about the holocaust has any way of logically being able to take place.

>>52466793
>its just boomers refusing to FUCKING DIE ALREADY*
ftfy fren

>>52463056
Whoa

While 25% or less of your income going toward housing is what people should aim for, most normies are probably sitting at closer to 30-40%. These articles always assume a single income too, but most people looking to buy a SFH are couples with dual incomes.

Housing prices are still fucked and need to come down, but in most parts of the country people can still afford one. I also guarantee within the next 5 years rates will be back down to basically zero, so the people who are paying 7% now will be able to refinance for 3-4%. Their income will also hopefully go up over time too. So even if they're stretched a bit thinner than they'd prefer right now when it comes to a mortgage payment, as long as they can afford the payments now, there should be relief in the not too distant future.

So many poor retards in this thread


The reason why you can’t afford houses that a single income used to be able to 50 years ago is because of women entering the workforce idiot. It’s single FAMILY home for a reason. You aren’t supposed to be able to afford it by yourself. That’s like crying about not being able to own 2 cars


Just rent cheaply and stack cash. Or keep bitching , your choice

>>52479365
>Just own nothing and be happy. Or own nothing and be unhappy , your choice

>>52463056
I make like 300 bucks a week lol.

>>52464309
most of the people i see building homes are latinx and you want to deport them. we should open the border and abolish minimum wage.

>>52479365
actually here is what happened:
1. banks pushed the "career" idea for women and politicians wanted it to increase GDP, when a woman cooks, looks after her kids, none of it is taxable
2. banks changed lending from "three times primary income" to "three times household income" some time in the 1990s and this meant that anyone who had two incomes could access more credit and outbid others. This then forced all families to have two incomes. Bidding more for the exact same house, the bankers captured even more of people's income.

>>52464309
the problem is "investors" and politicians, retard. how is that not obvious?

>>52479932
This man understands it

Women entering the workforce, along with globalization killed the average American's labor value.

In the 50's, you could support a family comfortably on a single income from working in a factory since no women worked and it was assumed by everyone that you as a man would need enough to support your wife and kids so you were compensated justly. Due to literally half of the working age population entering the workforce, your labor value halved, further, in your grandparents days of working you only had to compete with those in your town, now, if labor is too expensive, the company outsources production to India, Vietnam or China where subhumans will work penny on the dollar.

Bottom line, become SKILLED labor. It's your only hope to secure a future

>>52479410
No, you can buy, if you can afford it


Otherwise stop bitching you poorcel

>>52463692
Here's what's actually going on in my head cannon.

1. Millennials are the largest generation and entering peak home buying years as they are establishing careers and getting married
2. Boomers aren't fucking retiring/dying fast enough
3. Millennials and Gen z want to live in a city and have things to do, and they're delaying having kids, so they're largely flocking to existing cities, and not some new yet to be developed places... But there's a conflict in that there's a ton more millennials looking for houses in cities than there are available houses due to point 2

Honestly it's a pressure cooker of a market. Something is going to give and the whole fucking thing is going to collapse.
>T. Has a house and will undoubtedly get fucked in the next 1-5 years

>>52479932
oh-yikes, please cool down the antisemitism. thats a no from me

we're basically India now..

>>52463161
>tfw just started making $40k per year this year at 31 years old

>>52464535
You're not supposed to spend half of your income on rent/housing. You are living beyond your means. If you spend that much on housing I'm guessing you probably don't save that much.

>>52464613
>In my experience 28% is still too much to pay and banks will convince you to overextend yourself so they get to keep the house and your payments because that's what maximizes revenue for them.

yeah, I was spending about 25% of my income on rent (rent was $775 per month, total income AFTER taxes/insurance was about 2800 per month) and I decided it was too much so I moved back in with my parents to save money for a house. I am 31

>>52465779
>I mean if you don't have a family, you don't need a house. The fuck is a man supposed to do with more than 1 room? Maybe not a pod but a studio apartment is good enough for single life

I actually think this is a big part of the problem as well right now. Obviously, you shouldn't need two incomes for a house. Nevertheless, nowadays you have tons of single people, especially millenials, who want to buy a house even though they have no wife and no kids. So whereas in prior generations you'd have 2-5 people per house, now it's really not uncommon for a house to be owned or rented by a single individual. And it's normal, the older you get the less and less you want to live with roommates that aren't family

Who the fuck is even buying homes right now? Home sales should be at 0 right now. Why isn't it all crashing down?

>>52463056
Too many people in this world

>>52463056
>What the FUCK happened?
It's the end.

>>52466776
reminds me of this classic:

https://www.youtube.com/watch?v=OUq9rhuiD7k

>>52470857
your paranoid post reminds me of myself.
always feel like I'm responding to bait or bots
I think in this case he was just genuinely asking haha.

LMAO the Zestimate Stacey and two-more-weeks screechers have now capitulated to REEE DA JOOS

the comedy never ends with you losers

>>52463056
so a house on a lake but a road back in butfuck nowhere in australia now sells for 6M USD.

lol

also land house is bad design

https://www.google.com/search?q=334+The+Esplanade+sales+history&oq=334&aqs=chrome.0.69i59l2j69i57j0i131i433j69i60l2j69i65j69i60.1497j0j7&sourceid=chrome&ie=UTF-8

>>52477179
with what? restaurants and bars?

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