/biz/ - Business & Finance

>>53048624
>We are at record high interest rates. Why aren’t housing prices cratering? I’m searching over an hour and a half outside the city and shit is still wildly overpriced.
historically, the housing market takes 3-5 years to bottom out from peak to trough. prices currently are cratering faster than they have in the past but it's not an overnight thing.

>>53048647

pretty much what this anon said. give a another 3 years and we'll see the bottom. we could see a lost decade though.

>>53048624
Illiquid market takes time, historically around 5 years to bottom.

Boomers will clutch their bags as long as they can and then capitulate at the bottom.

>>53048624
I've come to the realization that I'm just gonna have to wait 2-3 years to buy

>>53048624
They don’t crash in Vancouver, SF, NY etc. What city are you looking at?

Inventory is still low. Nobody wants to sell their home if they can avoid it because they probably have a 3% interest rate, and are looking at 6%+ for their new house if they move right now.

>>53048696
Atlanta and literally up to 2 hours out.

>>53048690
Because this crash greatly impacts boomers even more than 2008 did, do you maybe think this could take even longer with them holding out til the very last possible second?

>>53048710
>Atlanta and literally up to 2 hours out.
from what I recall, Atlanta (and the surrounding areas) had huge investor buy-in which means there will be a rush for the exit once things really shit themselves and all of the recent buyers will be going negative on equity and rent

>>53048624
Sellers are unwilling to bring prices down easily when it comes to housing unless they're in some dire position, like unemployment.

>>53048624
fixed rate mortgage and unemployment isnt as crazy as people on the internet would like you to believe

you drove 1.5 hours and saw all houses for sale in your area?

>>53048647
>>53048671
I can’t wait to buy low and watch all my poorfag colleagues seethe

>>53048721
Regardless of age over leveraged persons will be the first to sell. They will be the ones that need money and are forced to make hard choices.

>>53048745
damn guess we got more more waiting

>>53048745
Damn that would suck if we found ourselves in a recession for some reason and people started losing their jobs so sellers were forced to sell and buyers couldn’t get a mortgage

>>53048745
The problem this time is that boomers are at retirement and majority have paid off their mortgages. It will take a pension or social security collapse since this is their source of income.

>>53048995
At least they’ll die in 20 years?

>>53048624
do u really want the answer or is this a cope thread

>>53048721

Politicians, no matter RED or BLUE, will step in to support boomers to prevent any real crash. Boomers will be taken care of.

Really, I don't see a true crash happening.

Generally, the housing market won't crater until unemployment spikes.

As long as people make their payments the banks will do whatever they can to not force buyers into mortgage stress. Once a few people default and a glut of houses come onto the market at the same time... That's when demand takes a bit and prices follow.

>>53049193

Thats likely to happen. Unemployment will skyrocket in the coming years. Burry white collar bubble.

>>53049054
>boomer has 800k in 401k
>draws 30k/yr from it to live off combined with his 18k/yr from social security
>medical bills piling up, recovering from double hip replacement, wife keeps buying russian nesting dolls on etsy...
>sees reverse mortgage commercial while watching Kojak reruns at 2pm
>bank buys his house over 20yr term paying him 1,000/mo
>income went up so he can now tap further into investment principal without feeling guilty
>buys mercedes glc because it has massaging seats for his geriatric back and looks balled when parked in front of the golf course
>bank takes possession of house when he dies
>estate tax takes half the remaining wealth
>the rest goes to his gen x kids who buy platinum f-150's and boats with it
>the bank rents the house to you for 2500/mo

>>53048647
This. The BIG 08 CRASH. Was not some shit that happened in the dead of night. It was a two year long crash before hitting the bottom. It's a "crash" because speed is relatively and two years is like a billion miles an hour in real-estate terms. You have to remeber most people buy a house maybe once or twice in their entire lives. You dont sell your house on impulse. Even if you do, it could take a year to sell it. Unless you are Black Rock then you buy houses literally ever .03 Seconds.

>>53049191
Just like in 2008 right? Politicians care about their donors aka their bosses and it’s not the people who “elect” them. That’s all a dog and pony show

>>53049191
In the UK the banks already announced forbearance measures to help over leveraged mortgage holders like switching them to interest only mortgages.

Idk how the US market is like but actually boomers are the most protected against foreclosure because most of them have either paid off their mortgage or they have a shit ton of equity.
It's mostly the people who bought in the last 3 years who are fucked.

>>53049191
It's not so much that they want to support boomers, it's that the entire US financial system is predicated on housing prices going up infinitely. Prices went down momentarily in 2008 and that sent massive shockwaves through the financial system.

On the other hand people need housing to be producctive, so high prices suppress the wider economy. We're at the inflection point, where the financial gain from an increase in prices is less than the economic losses from gatekeeping housing. It may take years for it to undo itself, but it wont be pretty when it does.

>>53048624
>Why aren’t housing prices cratering?
The dollar is cratering faster.

>>53048701
THIS

>>53048624
Who's selling?

the rates are nowhere near record high, look up what they were in the 80s
also the hikes are doing nothing to even tap the brakes on inflation

>>53050196
Can’t wait for 20% interest rates

>>53048624
Because home prices are still reasonable given the lending market. The last time rates were 6% was 2008. Median household income in 2008 was 50k. Median household income now is 70k. +40%.

Then in 2017, lending requirements changed. Fannie Mae allowed the DTI ratios to be raised to 50%. Early 2010s the ratio was a maximum of 36% because banks got BTFO by lending too much to niggers who didn't pay their bills. Now people who are putting 20% down with good credit can get 50% DTI as salaries are higher and risk is lower. +40%.

Homes should be up 80% just based on those factors from 2008 prices. Median home price in 2008 was 200k. Now it's 370k. 85% higher.

Housing has dipped, we're down 10% due to higher rates. It would have to dip an additional 20% to match the 2011 crash, and the economy isn't anywhere near as bad as the GFC. Incomes are up 40% since then, loan qualification amounts are up an additional 40%. If you take the 2011 lows and adjust for income and loan qualification requirements today, you get 300k, which is equivalent to an additional 20% dip.

It's also a completely different economy. Everyone who had a mortgage prior to 2008 was sitting on rates above 5%. Now you have a bunch of people sitting on 3% mortgages. There is no incentive to sell when you'll have to buy in again at a higher rate. We also are coming off a 10 year bull market where people earned a bunch of income off investments.

Through this entire boom my zip code has hardly moved.

>>53049489
All of the people in power despise Millennials (even more than they despised Gen X), so I am completely willing to believe that they're doing this partly out of spite.

>>53048647
>>53048671
>>53048690
>>53048694
Just two more weeks. Trust the plan.

>>53048624
Fixed rate mortgages are hiding the fact that lenders or investers holding the paper for those loans are getting wreaked right now. It is going to get harder to borrow money even when the rates start dropping again. So even in a few years RE will be low if you adjust for inflation.

>>53048647
Prices haven’t dropped a penny in my area lmfao, they’re still rising

>>53050233
I like your optimism. Lets hope the economy holds like you predict. But the amount of credit out there is far higher than 2008 and far more of the market is institutional investors.

>>53048624
Crater is not a verb.

>>53048647
Crater is not a verb.

>>53048624
Record low inventory

>>53049191
When boomers start passing away and millennials start getting their inheritances is when the rug is pulled

>>53048745
But the experts said 2008 crash would never happen again!

>>53051434
Half of that inheritance goes to the government and retirement homes

>>53048624
I don't think you understand.
Inflation is extremely bad right now.
By bad I mean super bad shit hits the fan no one can afford things bad.
Inflation effects the home cost too, because now all those building supplies are 10x the price.

>>53048647
>as if someone would sell their house at a loss
The builders are not slowing down anon.


The way I see it is that in 2 + 2 weeks this whole house of cards will come crashing down. Then Powell will jump in and save the day.

>>53050233
now adjust for historic inflation, even if they stayed flat and never dipped form the peak, they would be down 15+ percent in real terms already

>>53051251
Except millenials were never a threat and are a direct product of their programming, even moreso than gen-x. We are cattle anon... it's not spite it's apathy.

>>53048624
The drop doesn't happen when people willingly sell into a loss. It happens when they get their asses foreclosed on after they can't afford their mortgage. Looking at the average savings and credit of the average normie, it doesn't look horribly far off.

>>53051537
There's a $12 million tax free inheritance tax exemption...

>>53051718
And you think that's for you?

>Lived and raised in 200-year-old family house until my adolescence
>parents decide to sell our ancestral home (legitimately built by my first New World ancestor) for around 50,000$ CAD.
>parents buy 30 acres with waterfront for 23,000$ CAD before 08
>Built a 2,300sqft vacation house for themselves on the waterfront lot and a 2,600sqft single family on the other 27 acres during a lumber low (2013-14)
>Sold the single family to an elderly German couple for 750,000$ USD in 2020.
>Sold the vacation home for around 720,000 CAD$
>They now live in a luxury condo in Portugal with my two half-sisters
>Look at local real estate listings while drunk alone in my 400sqft basement apartment
>Original family house back on the market
>For half a million dollars
Sadge

https://www.point2homes.com/CA/Home-For-Sale/NS/Truro/51-QUEEN-Street/128489525.html

>>53051723
No because I live in Canada where we don't have inheritance tax yet

>>53048624
Homeowners don't want to lose money on investments. Simple as. For housing prices to go down a surplus of available home would need to be built in desireable places. There aren't a ton of well paid soldiers coming back from war these days.

>>53051729
at least they made money off of their skullduggery my parents sold their newly built bungalow in florida for 218k at the height of the recession and then blamed my then 12 year old downie brother for wanting to move

>>53048624
kikes won't let average white americans ever afford a house in a land their white forefathers built. It's really fucking sad and it makes me hate Jews every single day.

>>53051729
Don't worry, the tides going out and the music is about to stop. I think home prices will be the least of most peoples worries soon.

>>53051729
Ayy, my grandma lives in Truro

>>53051807
kek, your parents sound irresponsible

>>53051192
That's because it's a place for yuppies who are busy paying off student debt and constantly job hopping. By the time they get married, acquire wealth for a house, they're too old for the neighborhood. 70% of the properties are rentals.

>>53051327
>Prices haven’t dropped a penny in my area lmfao, they’re still rising
I'm sorry that you live in a poor area of the country that dramatically lags the more expensive metros but your time will come just the same.

>>53051706
>Looking at the average savings and credit of the average normie, it doesn't look horribly far off.

i swear ive been hearing that avg normie only has $500 saved my entire life and yet it doesnt seem to matter because nothing ever happens

Kek bought my house cheap due to the 2008 mess. First house. Spent a few years renting a place and my expenses were low so I was able to stock pile money waiting for my chance. 2008 was like a gift. Owners of the house spent a fuck load redoing the main level then cheaped out when it came time for the basement (the job was still in progress when they put it on the market; you could tell the basement electrical was a uh slapstick affair). With the above in hand I got the cheap price lowered even more. Spent a bit of time fixing the electrical myself (when your basement is a gut things are easy as hell to get to/run wiring/etc). Left the basement "gutted" (no fancy walls, no ceiling). Still looks nice though.

>>53048690
>Boomers will clutch their bags as long as they can and then capitulate at the bottom.
boomers have no reason to sell anon. In fact unless you have to move, nobody with a 2% rate is selling now.

>>53053354

Yeah realistically we're looking at a dead market until something breaks. Nobody's selling but also no one is buying with high rates and high prices.

>>53048624
Soon. Just be patient. Investors will dump them in favor of bonds, especially large institutions.

i bought my house in 2020, 2.7% interest.

not an investment property; I'm living in it.

Never selling.

>>53053354
>boomers have no reason to sell anon.
>boomer home equity is their number one retirement asset.

>>53053354
Boomers hold investment properties that yield less than cash. And their capital is going down quickly. Eventually the bags will become too heavy and they'll sell.

>>53053420
>Nobody's selling but also no one is buying with high rates and high prices.
I think most people just cant afford these prices. Low interest rates allowed anyone to buy a shit box. Now with the cost of everything else like utilities, food, car payments, and so on that 7% is hard to stomach. There will be forced sellers and unfortunately for everyone holding on to there "investment" properties the price is set in the margins.

>>53048624
because there's a lag
just think about it for 5 minutes

Atlanta market is in gridlock, it isn't under pressure right now. Its not like the other cities that have 'only so much desirable land' - every road you drive on in a 4 hour radius has plenty of open spots to develop or things that need redeveloping. I have no idea how this resolves but I think it's fine to stay on the sidelines.

>>53054180
holding an asset that's going down isn't a retirement plan

>>53054422
That was my point and that is why they will sell. They're going to want to realize those gains asap. The last bull run is the last one they will see in their life time.

>>53053283
yeah
seems like le "average person cant afford a $900 emergency!(tm)" was based on some 200 person """study""" and was repeated constantly

>>53048624
>he thinks the line can go down

>>53054422
Never heard of a reverse mortgage?

>>53048671
2 more decades, then you can buy a house

>>53051896
alan greenspan drugged and raped an 11 year old black boy

>>53051729

Be a man and buy it back crybaby.

>>53054288

It's the biggest real estate bubble in human history. Things were already inflated to a ridiculous degree before interest rates.

not true, they are cratering
my zestimate has dropped $3k!
after rising $30k!
just two more weeks!

>>53058088

Try to sell at your zestimate and tell me what happens.

House prices fell 9% in real dollars

>>53051896
>soon

>>53058195
never selling dummy, then I'd just end up a seething rentoid just like you

>>53058206
what does that mean?

>>53058436

You live at your mom's house. She owns, not you.

>>53051723
That’s for anyone with a pulse

>>53050233
Aren’t there a nontrivial amount of new buyers with 3.5% down FHA loans?
There are also a nontrivial amount of HELOCs

You have this very hoomer cope mentality that there was 0 leverage in this absolutely retarded housing bullrun

>>53051681
Nah, the all-out offensive they went on the moment we hit college age is proof of how afraid they were of us. Every Boomer knows that with the same kind of training and opportunities that they had, we would have run them out of every job by 2015. These people didn't know how to use Microsoft Office, they were hopeless. Gen-X was a pure spite move, because even though they were smarter, less impulsive, and less traumatized than Boomers (despite their best efforts) by miles, there were never enough of them (though they punched above their weight). There were enough Millennials to completely topple the system, and 2008 was a MASSIVE gambit, because even though it robbed many of a decent start in their careers, it did so in a way that left a highly educated cohort with no attachment to or sympathy for the status quo. They had to fight to co-opt OWS, BLM, GG, etc., and they had to take so much damage to get it done. All the beautiful window dressing that they put on the ugliness that they churned out, they had to rip off. They hate us for exposing how corrupt and craven the world they built is. That's why "OK Boomer" made them see red; they thought they were going to go to their graves having committed the perfect crime, and we fucked it up for them at the zenith. They HATE us. We LITERALLY live rent-free in their shit.

>>53058480
It means that it once you include inflation homes have fallen more. But they have only really started falling since last May soooo you'll have to included inflation since May.

>>53049279
lol spot on, but needs a few things cleaned up for accuracy. In the US Estate taxes are really only for ultra wealthy as the exemption is like 14 million individually and 28 million if married (it will drop in 2026), but of course some states have a different level (not many) and legislation can always change that.

>>53058270
yep... two more weeks

>>53051738
Inheritance tax should be 100%, fuck everyone with their free money I'd rather you have to give it to Israel.

>>53059820
There was an old man who married his son's divorced wife. When he died, she did follow through with the plan and re-married the son. None of the millions of dollars were lost to inheritance taxes.

>>53057913
P A R A S I T E (2019)

>>53051729
A part of me thinks that this is what you get for being a colonizer, but tbhfam that shit's fucked up. It looks renovated, but you can see the decent family life that took place within those walls. People will really give that shit up and leave their children with nothing for a couple years of living slightly easier. I'm sorry.

You're lucky that you caught it while it was on the market, you can download all of those photos so that you never have to be like, "I wish I could remember what it looked like."

>>53059663
i see, so down afew % since may then in real dollars thats like few % + 5% (inflation)

hopefully i can get a good slurp in 12 months time

>>53048624
nice house, sauce?

>>53060225

Jesus get the political indoctrination dick out of your brain. They "colonized" teepeeniggers in the stone age that practiced rape, slavery, and human sacrifice.

>>53052747
Yeah this is true, I'm well aware most of the neighborhood is for rentals - that's why I bought here in the first place.

I have a 2-bedroom place 1 block off the Southport Corridor which, as time goes on, I'm eventually going to outgrow. My fiance and I live here now but once we want to move to the suburbs, I can keep that condo in the family, which is the goal.

20-25 years of rental income to fully pay it off isn't a bad scenario imo, especially as rents continue to climb. I'm in on this one for the long term, so no need to worry about temporary fluctuation. Not to mention the total monthly cost is WAY less than what I'd be paying as a renter now.

Beautiful area too btw. if you're in chicago or need to relocate I'd take a look at it

>>53062922

>chicongo

>>53062939
Yes

>>53063017
RIP

>>53063017

It's 3rd world and the leadership is nonexistent. You're trying to dump your bags but everyone knows Chicongo is a sinking ship.

>>53063041
>>53063034
Keep thinking what you will while I accumulate. Just from being on the ground here every day it's clear the city's insanely undervalued.

>>53063112
Chiraq is meme for a reason.

>>53063112
Isnt Illinois property tax straight up retarded?

>>53063314
Yeah the property tax is obscenely high. The benefit though is that home prices are lower than other major metros to account for that, and even then are pretty undervalued in comparison.

Income tax is much lower than other major metros (NYC, SF, LA, Boston etc) so you get a break there. We also have pretty great public services (good transit, streets are clean, great schools, government works fairly well) to account for that. So, at the bare minimum you're getting a fairly decent return on your money.

>>53048696
Vancouvers housing won't collapse but the quality of life will. Salaries will not support cost of living and businesses will be forced to move or close. Even if you are rich you will be screwed. Lots of the condos are poorly made and will become a major issue by 2030.

They're still making daily ATHs in Canada. We import 20 quadrillion brown people/year to keep the housing ponzi alive though

My hope is that we have a crypto style mega-dump crash here since our market is even more artificial than anywhere else

>>53048624
They are.
My roommate lowballed someone like $100,000 under asking and got the house.
My cousin is a Redfin agent, and like 90% of the agents have had ZERO work for MONTHS.

Shit is fucked.

>>53064253
>My cousin is a Redfin agent, and like 90% of the agents have had ZERO work for MONTHS.
On an individual level, that's terrible. Hope your cousin finds some deals soon.

On a systemwide level, this is excellent news. Time to accumulate.

>>53051729
I got accepted into Dalhousie uni this semester and need to defer because there is quite literally zero available housing in Halifax. I know your pain brother

>>53060225
>A part of me thinks that this is what you get for being a colonizer
Your ancestors sold your tribe out for some shiny beads. Ours did for foreign Chinese and Pajeet upper classes so boomers can collect more shekels.

The circle is complete. I suppose the natives can enjoy your revenge. Probably not, as most natives live in abject misery, but at least you'll have company

>>53064291
She has a so*yboy BF that props her up.
It's just crazy looking at Redfin listings through the agent inside shit.
Some homes have ZERO interest.
Like zero ppl.
Some ppl have like 8 refinances in the last 10 years. Wanting 2x market value.
Shit is way worse that ppl think.

>>53048624
This kills the boomer

The Fed is trying to control "price inflation" of regular goods and services while maintaining the wildly inflated prices of crap like housing, education, healthcare, etc. The point is to make people poor and dependent but not desperate and starving.

>>53051729
That’s a really cool house, shame it’s in Canada. I would love to find something similar where I’m at for that price.

>>53064415
the east coast is getting fucked by torontocels, and halifax is at the epicenter. i was going to UNB but transferred to alberta for the same reason. alberta is a shithole but at least it has cheap housing

>>53064442

>Some homes have ZERO interest.

No one can afford a starter home for 800k at 7% mortgage rates. There's no interest because a majority of people are completely priced out of the market entirely.

Prices have to come down 50% to get people even to start looking.

>>53052747
more like everyone that was able to moved the fuck out during the pandemic

>>53048624
Because normies finna norm. They will still buy a house on a 25 year mortgage as long as someone lets them. They won't look at the numbers. They aren't interested in what its costing them in the long run. They simply don't think about these things and that's good for us, if they did the economy would collapse on the spot.

>>53048701
What this anon said is what multiple analysts are saying and it seems to make sense. Also, nobody is selling and buying bigger, so there are no entry level shit, not that there was much anyways. Its pretty fucking grim.

>>53064909
>Prices have to come down 50% to get people even to start looking.
This.

>>53048624
Because boomers KNOW WHAT THEY GOT

>>53064909
True. The homes in the 600k-1M range are completely dead in the water because they're not exactly middle class range, but they're also too low tier for someone who legitimately has that amount in cash. Who is a buyer there? Absolutely no one. The poors can't afford a loan at these rates to buy a house that's beyond their means like before.

>>53064471
>>53067649
>>53059651
Boomers weren't the ones flipping houses Ivan.

>>53051681
>Except millenials were never a threat and are a direct product of their programming
That was the point. They pulled the ladder up behind them and demanded us all worship their corner office while the called Suzen in every five minutes to ask how to do something in Microsoft Office. They hate the fact that some millennials called them out and chose not to play the same game as them.

>>53064415
>>53062549
Niggers I wasn't even talking to you lmao fuck off

>>53068136
Boomers are in control of all of the institutions that caused asset inflation. House-flipping just rode that wave, it didn't cause it.

>>53048624
I just want a condo in the city. No need to have a car and they usually have amenities like a gym. Ez life.

>>53048624
why do you stupid anons keep making these threads about housing. you should already know who the fuck is propping the prices up. and it's exactly who you think it is you dumb fuck.

>>53048624

Low supply and low demand. Boomers don't want to give up the thing that is 90% of their total equity. And the intelligent Millennials/Zoomers don't want to buy an overpriced, cardboard box, with no land, at a 7% interest rate.

Homes should adjust lower over time, but don't expect some massive 50% drop in nominal prices from here (although that would be nice). It's more realistic we'll see a 50% drop in prices, but adjusted for inflation. Which means the nominal prices may drop 20% - 30% max.

>>53048671
will the stock market bottom out with the house market?

>>53051729
>>parents decide to sell our ancestral home (legitimately built by my first New World ancestor) for around 50,000$ CAD.
I can garantee it was HER idea

>>53055211
houses aren't bags, they are houses.
what the fuck happened to us man?
Houses cost the same as they did 25 years ago priced in gold.

>>53048624
Millenials just got into their home buying years
Supply is still low due to material shortages

>>53048647
>3-5 years to bottom out
>600k homes drop back to 450k for a short time then bounce back to 800k the next year
we can only lose

>>53070348
>Millenials just got into their home buying years
millenials still earn bottlecaps and got no savings as landlord parasites suck them dry unless 3-4 of them lives in a condo.

>>53049489
>US financial system is predicated on housing prices going up infinitely
why?

>>53071242
>>53049489
>US financial system is predicated on housing prices going up infinitely
yes goy it will! because we will import so many 3rd world shitters the demand will be always artifically and extremely high!

the future is a boot stomping on your face, forever.

>>53064909
>>53067664
Yeah, I grew up in a relatively middle class suburb and I am completely priced out as a software engineer making ~120k.

This is the current cheapest listing in that neighborhood, on paper I could afford it but I am an edge case as I already own a home (different metro area) and have been EXCEPTIONALLY diligent in my saving, not to mention got lucky with crypto.

>>53071595
if I made 120k even only for a couple years I would be set for life already.

>>53068449

Depends on the market but overall I tend to agree with you. Expect a return to the mean rather than a complete collapse.

>>53071608
Where do you live?
What's your living situation?
Any goals/aspirations?
Do you want to start a family?
Do you want to start a business?

120k is excellent for living single but anything above that is going to require more.

>it happened last time So it'll happen again!
That's not how it works. The first time something happens, it's an accident. Then they prepare for next time. There is no crash coming, politicians will come up with a way to save the boomers.

>>53071840

What are you doing about it since you know what's going to happen?

>>53071848
Getting a taste for bug burgers

>>53071865

So you're just a useless FUD spreader that claims to know everything but never actually does anything and huffs your own farts to give yourself an imaginary sense of superiority.

>>53071816
>Where do you live?
middle europe
>What's your living situation?
coming from poverty, breaking out of poverty and sent back to poverty
>Any goals/aspirations?
died along with my dreams
>Do you want to start a family?
obviously
>Do you want to start a business?
would be nice

All Im saying is if I made that much I lived liek a pilgrim for a couple years, easily investing over 50-60k/year and make over a million when this scam recession is over.
Here the best I can make is 30k a year and my rent alone is over 800 tho I am no techworker but Im aging...

I just closed two weeks ago on a new house. 5.125 interest rate. My old rate was 3.75. Sold my old house immediately.

>>53071816
that is because you have, never in your life, had to stretch a dollar

you are so thoroughly middle class it hurts, and it has nothing to do with your income

>>53071958
>your parents set you up for success and apparently this is a bad thing

>>53050233
>>53063476
>>53063506
>>53066930
>>53067664
>>53068449


Fine posts, gentlemen.

>>53051405
KEK

>>53059820
>>53060225
>>53071958
This is the opposite of "based."

>>53048710
>Atlanta
You and me anon. Houses here have gone from low rates and high prices to high rates and still high prices. My down payment pool is in a good spot, but there's no point in using it when the drastically larger mortgage payments upend my planned monthly budget. I could see a correction happening, but not a full out crash since so many people are migrating here. Maybe when the recession "officially" happens next year I'll have better chances grabbing an affordable investor or foreclosed property.

>>53048624
>record high interest rates
Party's just about to get started in bongland. I'm forecasting massive gains in rope sales. I wonder which the graph will go from here....

>>53073644
Lil.... uptick on the ol' base rate there..... m3h m3h m3333hhhhh

It'll be glorious.

>>53051729
Feel your pain anon, when my grandparents died my boomer relatives sold the house I grew up in for like $450k to split amongst themselves, now that same property is probably worth $600k+ and I doubt I will ever be able to get it back in the family to keep as a familial home

Re is not a shitcoin that drops 80% in a day. Bottom wont be for years. Look at all the cope and seethe itt about akshually homes are priced correctly and muh low supply. Absolute retards still in denial. I was actually shocked during the run up that it was happening again not even 15 years after 08 but this thread and all the new home owners and flippers and "construction" workers Ive talked to irl have helped me understand. People are so mind bogglingly retarded it doesnt matter.

>>53068354
You said stupid shit and you got criticized for it. Idk where you think you are, but if you parrot your leaf noble-savage injun worship brainrot on here, expect to get called out.

>>53072381
it will in fact be a bad thing when things actually go south for you and you actually encounter an ounce of strife

see you at the bottom

>>53048624
>record high

fuck you are so stupid buzfeed retard nigger faggot

>>53051729
I FUCKING hate boomers

>>53071900
>scam recession
What do you mean? We've been on perma bull run mode since 2008

I have a mortage that is under 3%, why would I ever sell that, even if I move I will rent it, the house appreciates on average something like 8% per year so that's a free 5%.

Lots of other people in similar situations doing the same financial math as me, there's no pressure to sell, it's even better if you are a boomer with a paid off mortgage where the carrying costs are so low you don't even have to rent it to make money.

Boomers and corpos no longer believe the economy is real and would prefer to hold real estate bags than cash or stock.

This recession is a lot different than 2008.

>>53077103

>misses the entire discussion to humble brag

You're the type of guy whose friends don't actually like him

>>53063506
Plenty of detached houses are already down 20% from earlier in the year, another 20% over the next couple years is likely

>>53075981
The issue is that nothing either of you said is accurate, about me or the subject. Is this that white fragility I've heard so much about? To get thoroughly assblasted in response to, "Normally I'd put you on blast for being a pale exploiter piece of shit BUT I see the human loss in your plight and I'm extending you my condolences, also a tip to help you preserve your memories despite the wrong done to you," LITERALLY white knighting for a stranger, kek. You're just looking for reasons to be angry, go get a life.

>>53048624
>record high
they're still historically low

>>53048624
>We are at record high interest rates
not really.
you haven't seen any pain yet

>>53048624
they will, once assessments are updated in your area.

>>53078479

Again, you said stupid shit and got called a retard. No amount of stupid shit that you type is going to change that. Try reading a fucking book occasionally instead of reddit.

>>53048624
In many leftist cities it's cratering. Expect it to really ramp up in 6 months

>>53049279
>the rest goes to his gen x kids who buy platinum f-150's and boats with it
What are you talking about? Boomers primarily spawned Millennials. Only old Boomers that had kids as teenagers produced a generation X kid. The youngest Boomer was born in 1964. Again that is the year of our Lord ONE THOUSAND NINEHUNDRED AND SIXTY FOUR! Then on another rare occasion did Boomers spawn Zoomers. Trump is a rare Boomer that produced Zoomer Baron Trump. I am not wrong because I do not subscribe to historical revisionism.

>>53068371
You can't tell the difference between individual people, can you?

>>53063112
>it's clear the city's insanely undervalued.
Yup. Used to live in Southport, fantastic area. I think the city is finally climbing back out of the woke insanity. Could be a great opportunity with the coming real estate fall + massive building projects.

>>53048647
>>We are at record high interest rates. Why aren’t housing prices cratering? I’m searching over an hour and a half outside the city and shit is still wildly overpriced.
>historically, the housing market takes 3-5 years to bottom out from peak to trough. prices currently are cratering faster than they have in the past but it's not an overnight thing.
this

Have we ever had private equity like black rock buying hundreds of thousands of homes?

>>53064442
Tangential relation but I work for a company that makes chemicals. One of our biggest products is a synthetic resin used in building materials, and we supply the housing construction industry. We've had very little demand for 3 months and are switching up our operations to focus on other products