[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 1.19 MB, 1160x922, Screen Shot 2021-01-08 at 6.05.55 PM.png [View same] [iqdb] [saucenao] [google]
25715062 No.25715062 [Reply] [Original]

What will it take for home prices to unfuck themselves?

>> No.25715262

Central banks and congress to do nothing to help prop up prices for the next six months. Which will never happen so get used to the clown world

>> No.25715301

>>25715062
Thank god I'm not American. That shit is redicilous

>> No.25715353

>>25715062
In Utah worse yet. I could see this in Kikifornia, but Utah?

>> No.25715375

>>25715062
when house printing becomes more commonplace world wide.
You know how they're 3D printing houses in some 3rd world countries or something?
Well once that tech is advanced enough, i bet house prices will go down... probably.

>> No.25715390

>>25715353
The rural western states are all getting colonized. Go to undesirable places like ohio

>> No.25715404

>>25715062
The death of those baby boomers

>> No.25715406

>>25715375
thnx just printed 100k houses

>> No.25715412

>>25715062
Under a million is cheap.

>> No.25715423

>almost half a mil for that crackhouse
lmaoing at burgers

>> No.25715428

>>25715301
its only that bad in california seattle or new york retard

>> No.25715440

The west coast / mountain states is the last place in america that actually feels free and not stained by racial violence. Beautiful nature too. It's a shame elites are blocking new constructions are basically pricing out the working class.

>> No.25715459

>>25715062
Who built this house, looks like nigger hut and 400k$, just murican thing. Must be expensive land near city center or somethin

>> No.25715465

Thats a 2m property in Sydneys inner west lol

>> No.25715514

>>25715062
>Those are USD
Wtf, I paid the same for mine in taco money, how can people even pay that much?

>> No.25715515

>>25715062
Some sort of legislation limiting the amount of property or renters a singular entity can hold because housing is a fundamental human right not to be infringed upon by capitalist greed. Honestly I’m a complete libertarian other than extremely rich fucking assholes and bankers using money to bully poor people until slavery. Take out like 10 aspects of capitalism and then deregulate. Hopefully full democratic controlled senate and house and president will allow this.

>> No.25715527

>>25715428
>its only that bad in california seattle or new york retard
OP's house is in Utah, who are you calling retard, retard

>> No.25715535

>>25715062
It doesn't even have roof?

>> No.25715540

>>25715353
Utah is out of room in the urbanized areas. So developers build out in the desert for the same prices, or they build resort houses near the ski resorts.
Even home listing prices in the rural towns are out of control.

>> No.25715546

>>25715514
Wait until a house costs 400,000 Bitcoins.

>> No.25715575

>>25715515
*endless encouraged mass migration jacks up property values even more*

>> No.25715576

>>25715062

higher interest rates

>> No.25715612

Fuck the central banks.
Fuck real estate institutions.


Stop blaming immigration on this shit. Alan Greenspan’s NYU thesis on housing market bubble is MYSTERIOUSLY fucking pulled. This is the most important man in shaping American economic policy. FUCK THE CENTRAL BANKS. FUCK THE NSA. PARDON SNOWDEN. FREE THE FUCKING PEOPLE.

>> No.25715616

>>25715575
Berry pickers can't afford these houses.

>> No.25715636

>>25715428
So the only nice places in America then?

>> No.25715650

>>25715575
*Biden puts hoodrat projects in "middle class" white neighborhoods to mess with the voting demographics in key districts... Increased crime causes white flight to other areas thus jacking up prices in places you actually want to live*

>> No.25715664

>>25715636
Yikes

>> No.25715682

>>25715575
You think illegal immigrants are spending 1 million dollars on these homes? Fuck off. You fell for this BLM false flag shit by media institutions to fight against each other about race while they made off with our future once again. It’s 2008 all over again except we’re too divided to fucking fight. Fuck the media. Fuck the banks. Fuck the wealthy. Fuck Donald Trump — he was literally a fucking exploiter of this shit and yet you worship him because you hate Mexicans. You are shit. I hate you. Biden one. Covid was real. Eat shit.

>> No.25715685

>>25715062
everyone living in pods

>> No.25715687

>>25715062
It will take interest rates normalizing, the US Paying down their debt, and turning off the money printer

>> No.25715705

>>25715612
wut

how can you not blame unending immigration as a factor in housing demands?

okay capitalism bad got it but how do you ignore reality?

>> No.25715709

>>25715650
Ah yes, poor people should continue living in poor neighborhoods where there's no tax base for decent schools and end up in a gang at 13 or pregnant at 16

>> No.25715726

>>25715612
*claps*

>> No.25715767

>>25715062
the government stepping in to prevent foreign people (mostly Chinese, paying in pure cash) from buying up all the homes to resell and rent to you.

Since the kickbacks are great, neither side will do it. Rs will say "muh free market" and Ds will say "stopping them is RASSIST"

>> No.25715774

Why are you fucking loses even here if you LOVE the most establishment candidate possibly in the history of politics. Bitcoin is about FREEDOM of the people and you bootlickers have spent the last 4 years trying to deregulate central banks and the wealthy uberclass turning you into a slave. Did Trump pardon Snowden? No. Fuck for. He’s not our guy. He’s a fucking loser.

>> No.25715780

>>25715705
Do you see day laborers buying $500k houses?
Tech money is fleeing the cities to buy houses sight unseen in cash, management companies are buying up houses to rent out, and the prices go up.

>> No.25715810

>>25715636
Imagine being this naïve.

>> No.25715811

Coюз нepyшимый pecпyблик cвoбoдных

>> No.25715838

>>25715636
wow, talk about cringe

>> No.25715850

>>25715767
so you support a communist ethnostate?

>> No.25715868

>>25715780
I don't know if you're being deliberately obtuse or not. Do you really think high levels of migration don't have an impact on housing and infrastructure?

>> No.25715888

>>25715062
Deflation and high rates, which won’t happen

>> No.25715889

>>25715850
so you support chinks literally owning your country?

>> No.25715937

>>25715868
Do you regularly find yourself applying for low-income housing, only to be denied because an ebike delivery rider beat you to it?

>> No.25715957

>>25715705
Australia has way less immigrants than America and our housing bubble is an actual bubble, like beyond 2008 levels.
Immigrants move into shitty public housing in suburbs no one wants to live. Boomers leveraging against the three properties they already own to buy another three is what prices everyone out of the market. People here also like to complain about the chinese but they are only a problem because boomer politicians make the laws which allow them to buy for the purpose of only increasing the value of the boomers currently owned properties.

>> No.25716009

Why don't you guys just learn to love the kikes? You just need to hussle a bit one time in your life so you can buy a house and then you're set from that moment on. It's the boomer's Bitcoin gaining market value every second. Shit's based and on point desu, my average suburban house already gained $100K over what I purchased it for just because I'm near one of those Texas cities Silicon Valley companies are escaping to.

>> No.25716022

>>25715957
the US has the same exact issue but nobody talks about. I work for a law firm handling default cases. The amount of chinks who own the entire west coast and PNW is staggering

>> No.25716084

>>25715838
Yeah I bet Ohio or Minnesota are nice places too (no)

>> No.25716100

>>25715780
>>25715957
I don’t get why you two are that dense. Right even as far as 2009 it was known that, “ According to the Census Bureau's 2009 American Community Survey, the U.S. immigrant population was 38,517,234, or 12.5 percent of the total U.S. population”.

you’re telling me that 38 million people aren’t to the price of housing and infrastructure? Like come on guys. I know you guys wanna suck immigrant dick but come on.

>> No.25716116

>>25715682
I don't hate Mexicans, your post is so fucking stupid you must be fresh from reddit. Don't even know where to begin sorting through your emotional delusions.

>>25715709
Public education in general fucking sucks dick and no I won't be putting my kids in one anywhere. Holy shit this thread is full of dipshit leftwing redditors. No people are not just helpless victims of circumstance alone especially not black people. Imagine being such a naive dumb fuck you think better funded public schools can help black people.

>>25715774
Trump not pardoning Snowden and Assange is your reason for being a total naive ignoramus who licks Demonrat boot when the whole of them are either blatant sociopaths or drunk on a retarded economically illiterate ideology as if it were their religion. What an NPC you are to just assume I'm a Trump guy just because I shit on Biden.

>deregulate central banks and the wealthy uberclass turning you into a slave
What the fuck does "deregulate central banks" even mean you retard. Central banks are cartels formed by the state, and their partnership with government is one of the things that makes endless leftwing nonsense possible in the first place. Democrats love central banking the most and it was one of Karl Marx's tenents in his communist manifesto. If you are not for abolishing central banking get the fuck off biz..

>> No.25716123

>>25715390
rural ohio is where you will find truth

>> No.25716165

a plague of biblical scale. a real one not a pretend plague like corona, one that wipes out 25% of the population or something

otherwise get used to paying more for housing. We've been importing millions of dirt people from the third world into America every year for decades, and now with Harris in charge the great replacement is going to accelerate to levels you can't even imagine

>> No.25716191

>>25716022
I can walk into a brand new high end apartment complex, 6 months after construction was finished, and like half the apartments are sold and empty.
Shit crazy. Developers and local government do whatever they can to sell as much as possible to chinese investors. They only care about profit. Its disgusting.

>>25716100
Broke ass mexicans arent buying houses. End of story.

>> No.25716205

>>25716191
Are you 16? You need to be 18 to post here buddy

>> No.25716269

>>25716191
you won't convince the tards here who LARP about their 1k USD bitcoin "investment" and who haven't tried to compete with the Chinks. Your 30 year mortgage with 40k down ain't beating a literal briefcase filled with greenbacks and one day these idiots will learn that first hand.

>> No.25716322

>>25716205
What kind of post is that? Add something of value or go back to the shitposting boards.

>> No.25716350

>>25715612
>more people buying houses doesn't lead to increased housing prices. Stop being a racist dummy!

>> No.25716363

>>25716322
broke ass Mexicans still need a place to live therefore driving demand. I don’t know why you can’t process that

>> No.25716375

>>25716191
>Broke ass mexicans arent buying houses. End of story.

>buy house
>rent to some mexican with no SS# for cash
>turn blind eye to the 12 people living in a 3 bedroom house for the $3k a month rent

as long as rent covers interest on the mortgage and property values keep appreciating through inflation your golden

>> No.25716405

>>25715406
It'll still be expensive, but will probably bring down the cost, it'll be several years from now.

>> No.25716415

>>25715465
Sydney is ultra-fucked. But normies, chinks and women are buying.

>> No.25716435

>>25715062
Nukes

>> No.25716450

>>25715780
>mass immigration doesn't affect housing prices because mexicans can't afford million dollar homes
This is your brain on leftism

>> No.25716462

>>25716350
Can mexican fruit pickers even afford a house outside of the actual ghetto?

>>25716363
The demand is insignificant compared to all the other factors that have driven the property market. A single chink real estate firm is worth more than 10,000 mexicans, Sorry but those are the facts.

>> No.25716473

>>25716116
Public education sucks when there's no tax money to pay for it or it gets defunded on the state level because boomers don't want to pay taxes. It sucks when the rich put their money in tax havens and pay for their kids to go to all the same private schools.

>> No.25716514

>>25716116
I guarantee you rightoids talk about central banking wayyy more than do the people who want to abolish capitalism outright.

>> No.25716538

>>25716462
it’s not 10,000 Mexicans, its 11 million of all nationalities in California alone. You’re telling me 11 million is insignificant? Please kiddo go back to r*ddit

>> No.25716542

>>25716450
See >>25716462
You are a legitimate brainlet if you think the only factor is MUH IMMIGRATION. Pull your head of the id pol shit bucket and actually use your brain in a critical manner. Thank you.

Theres a map included in this link that shows percentage of properties purchased with cash, meaning percentage purchased by chinks
https://calmatters.org/housing/2018/03/data-dig-are-foreign-investors-driving-up-real-estate-in-your-california-neighborhood/?

>> No.25716576

>>25716462
>The demand is insignificant
nice leftist philosophy

>> No.25716595

>>25716191
What does it matter if they rent instead of buy? They're still pumping demand into the housing market, except in this case it's even worse because the only people profiting from it are landlords and giant real estate conglomerates who own half the town anyway

>> No.25716623

>>25715062
Going direct to the owner of that shack and offering them 0.1btc for it.

>> No.25716626

>>25716576
Im not a leftist, Im clearly complaining about foreign investment in my country. You need to pull your head out of the identity politics shit bucket also.

>> No.25716649

>>25715375
Yeah the cost of labor is the big factor and location (land).

>> No.25716657

>>25716538
It's SF and LA industries making princelings out of senior VPs who then buy up multiple houses and block development of high-density housing. It's boomers treating home equity as a retirement plan.

>> No.25716704

>>25716462
Mexican fruit pickers can't no but slumlord "property gurus" can which leads to middle class flippers and other speculators which drives prices for developments which in turn becomes ghettos after capital flight takes place. Rinse and repeat. Without even factoring in "rich" migrants who escape oppression.

It's certainly not as big a problem as investment funds, retirement funds getting access to cheap credit and artificially pumping up housing prices but it certainly plays a role.

If I was a gambling man I would wager that if you took all immigrants out of the nation you would see a 15-20% reduction in housing prices.

>> No.25716716

>>25716542
Pretend their skin isn't brown and my argument is exactly the same, except you won't need to virtue signal every post about how much you want your country blacked. Illegal immigration is a factor in house prices, end of story

>> No.25716864

>>25716716
Agreed. But it’s not enough to explain this shit. Unbridled greed a new era of top 1% aristocracy (such as Trump himself) being able to manipulate markets due to post-Reagan economic inequality is also a huge contributing factor, as real estate is the most conventional haven against human history — even above gold. Do you not agree? Problem is, people need homes to live and Trump didn’t end immigration at all. It wasn’t his actual goal. His goal was to help the oligarchy, while using a scapegoat to fool the common man.

>> No.25716930

>>25716864
Legal immigration is actually great for a country. Please give me as many well-functioning Nigerians, Indians, Chinese people as possible.

Illegal immigration brings the dumbest people in the entire world in. Wish I could have a party against illegal immigration AND for regulation of predatory tactics from the supremely wealthy. Unfortunately, we live in clown world. No matter who wins, we seem to lose.

>> No.25716951
File: 1.37 MB, 1232x963, School.png [View same] [iqdb] [saucenao] [google]
25716951

>>25715062
Michigan has good house prices.

>> No.25716977

>>25716473
It sucks because the incentives governing public education are fundamentally trash so no amount of throwing money down the hole will redeem it. It's going to continue only because hardly any government program ever gets abolished no matter how much of a shitshow it is. You're god damned right I don't want to pay for pea-brained socialist schemes. It's monstrous how almost the whole of society is raised in those shitty little indoctrination camps that has almost no value to employers. It will continue because it's more about giving the teachers jobs and because central banking has impoverished the average family so they feel they need state-run daycares. That's always the measure of leftwing nonsense, it's about making you dependent upon political rulers as your mommy and daddy saviors.

There's probably a dozen different things Democrats favor that would prevent housing prices from falling or make them increase. Can't have too many people feeling independent and affluent, whatever keeps the dependency going. Of course Republicans are only placed differently on the spectrum of bullshit for mostly being cucks to the left.

>> No.25716992

>>25716864
Haven against inflation in*

I hope crypto changes shit and people sell their houses to buy Bitcoin. It probably won’t happen though. It’s not nearly as safe of an asset vs exploiting people into slavery with ever increasing rents so that they live paycheck to paycheck.

Imagine actually voting for a scummy landlord who hired the mafia to intimidate rent controlled tenants and justifying.

>> No.25716999

>>25715612
IM DA JOKAH BAYBE

>> No.25717004

>>25716951
the /biz/ bunker who wants to split halfway?

>> No.25717029

>>25716951
>Old abandoned elementary school

God imagine all the fun things you could do in a place like this that would eventually get government attention and Waco'd

>> No.25717039

>>25716977
>because central banking
stopped reading there

>> No.25717058

>>25717004
I’m kinda down. Wanna get a fucking sick sound system and write fuck the feds year Pepe forever on the chalkboards and double deck the toilets and hire jannies to clean up our mess.

>> No.25717075

>>25716951
*slaps roof* you can fit half the UP in this fucker

>> No.25717082

>>25716473
This and also because instead of whipping the dipshit slacker kids into shape, they just continually lower the bar so that the mouthbreathing retards can get a diploma while the kids with potential get fucking stiffed.

When I was 16 I took a financial literacy class and I'm so glad I did, but it wasn't even at my district school, had to get on a bus to take it at a charter school.

>> No.25717108

THIS IS FUCKING AMAZING!!!
MY WALLET IS FULL OF BASE
KEEP AN EYE TARDS

>> No.25717122

>>25715375
LOL no. Most houses sold are already built. The land is what's valuable. Rich cunts literally buy houses for over $1M in Australia just to tear it down and spend another $500K building a new house.

>> No.25717126

>>25715062
That’s the avenues you stupid fuck. You pay for the location. Everywhere else in slc isn’t that bad

>> No.25717145

>>25716473
Fuck you, I pay enough in taxes, now you want me to pay for your little fuckin mutts too. Here's a idea. QUIT FUCKIN BREEDING

>> No.25717147

>>25715301
Yeah that’s some fake news a house like that down here in texas is like 200k at best lol

>> No.25717169

>>25717082
This. This. This. No child left behind means no children get nurtured for their talents. Instead our educational system panders to kids who keep asking what the difference between a simile and a metaphor is in 12th grade.

>> No.25717181

>>25717126
I swear half the houses in the lower avenues are run-down rat traps rented out to U students

>> No.25717196

>>25717039
Okay boot licking reddit scum.

>> No.25717223

>>25717039
Banker dick sucking subhuman and proud serf.

>> No.25717237

>>25715527
Lol it's worse in Seattle. I've seen houses an hour commute away from seattle that look like that sell for $650k

>> No.25717248

>>25717145
Yes. I don’t even have kids (won’t til my net worth is 10 million) but I’d gladly pay for stupid fucking kids to not be stupid. You have to deal with these complete idiots daily, regardless of where you choose to live.

>> No.25717262

>>25717196
>>25717223
>capitalism is good, actually, we just don't have real capitalism yet

>> No.25717270

>>25715616
They can if 20 of them live there.

>> No.25717296

>>25717270
Then build more affordable housing so they don't have to rent from mini slumlords.

>> No.25717490

>>25716704
I get what you mean, people in Sydney are renting "under the table" for over market prices just so they can cram a dozen expired-visa chinks in there. Moved into an apartment once and there were marks all over the walls and carpet from partitions. The shower smelled like fish guts.

>>25717082
Public schools are worker schools and you cant have workers knowing how to achieve financial freedom. My mathematics teacher would reshape a lot of the curriculum around economics and finance just to teach students what they werent learning in any other class.

>> No.25717531

>>25715428
Not true. Even in my shithole of Albuquerque, the average home is over $320,000 now.

>> No.25717535

>>25717490
By the way thank you Mrs Eagles for teaching me about compounding interest. The biggest real life cheat code.

>> No.25717588

>>25717262
>my understanding of economic terms like capitalism is "whatever the American system is no matter how extremely statist it becomes" because I was educated by the public education system so that my first impulse was always for mommy and daddy politicians to save me when their last efforts to save me only fucked things up

>> No.25717590

>>25717296
With what money?

>> No.25717670

>>25715062
isn't that thing a crackhouse in compton, los angeles? housing really is the bubble that never pops.

>> No.25717727

>>25715062
Price caps which vary based on average income per area. They're not going to be reasonable until you force them. Jews, Joomers, and banks who get you stuck in loan debt are too damn greedy. That's another thing, we need interest rate caps.

>> No.25717747

>>25715062
Have the hipsters moved out to SLC?

>> No.25718427

>>25715062
nuclear fallout / massive depopulation. Though even if there is massive depopulation, I can still see chinks buying up all the houses making property ownership impossible.

>> No.25718452

>>25717727
Not interest rate caps, TOTAL interest caps

As long as the (((banks))) can charge interest indefinitely the problem will never be resolved. Paying 2x the original loan price should be the maximum before the debt is discharged.

>> No.25718587

>>25715062
I can get something bigger than that for 500k in California what are you hillbillies doing

>> No.25718855

>>25716542
>id pol

Point disregarded. Immigration is both immoral and objectively wrong. Genetics determines society and culture. Its not id pol to be a fucking idiot and think 2+2=5 because you are offended by the concept of addition. Genetics is real and races should be JUDGED on this merit. The problem with ID POL is that it preaches antiracist pseudoscience while attempt to purge racial enemies of the left

>> No.25719481
File: 231 KB, 1504x1010, remodeled.jpg [View same] [iqdb] [saucenao] [google]
25719481

>>25715062
I looked this place up. It's fully remodeled in the middle of Salt Lake City 5 mins away from campus? Condos around here are more expensive than this. It sold for 350k last year. I don't see the problem here. Pic related.

>> No.25719521

>>25715062
millions of dead jews and a white ethnostate

>> No.25720267

>>25715062
>3 bedroom
>1200 square feet

Sheesh you couldn't have any privacy living like a dog in a house like this. You could hear your roommates breathing and fapping.

Used to date this broke chick and I could hear her roomates fart and shit through the thin walls in the house and bathroom. Fucking awful feel bad for the poor fags who have to live in such a dump

>> No.25720329

>>25715375
When you can print 4x of all houses overnight, maybe then

>> No.25720397

printing won't make any different. the price is built mostly off the land (location and size), not the structure on it

>> No.25720429

>>25720397
difference*

>> No.25720897

>>25717747
SLC has had hipsters for decades

>> No.25720919

>>25719481
Yes, that's the murder dungeon.

>> No.25721127
File: 418 KB, 1504x1010, don't buy this.jpg [View same] [iqdb] [saucenao] [google]
25721127

>>25719481

>> No.25721158

>>25715780
>>25715868
>>25716100
Leftists are so racist that they think all the grape pickers and housekeepers just live in caves and tents. It would astound them to learn that immigrants need homes to live in and thus pay rents to landlords to do so.

>> No.25721254
File: 30 KB, 480x360, hqdefault (17).jpg [View same] [iqdb] [saucenao] [google]
25721254

>>25721158
>caves and tents
No, probably apartments or shared housing.
>landlords
pic related

>> No.25721259

>>25715375
lol. that just means rich people will own 10 homes you idiot.

>> No.25721311

>>25715062
Half a million dollars for that tiny shack...?
In fucking Utah????
What

>> No.25721353

>>25715612
prison world buddy.
enjoy your stay
only way to live a free life is to make 100mill
then you get a taste but are still on a leash

>> No.25721370

>>25716951
>buy school
>turn gymnasium into fitness center
> take empty class rooms and change them into saunas, tanning rooms, or showers

>> No.25721391

>>25715062
the real question is how much dia are you gonna need to unfuck yourself?

>> No.25721412

>>25721370
Gay.

>> No.25721425

if people started paying 2 to 3 times their annual wages for a house it would force the markets to correct. that or a collapse of central banks but neither will happen.

>> No.25721433
File: 3.41 MB, 2398x2888, currency.png [View same] [iqdb] [saucenao] [google]
25721433

>>25715062
A real currency

>> No.25721446

>>25716415
I will be moving to Sydney soon, tell me about it, not a fucking chance i will be able to buy anything, so the next best thing is to rent a 1 bedroom shit hole for $500 a week

>> No.25721527

>>25721370
>get arrested for owning a small business.

>> No.25721537

>>25715062
well its simple, your and everyone elses desire for one needs to go down.
>t. supply and demand

>> No.25721637

>>25721537
Or we physically remove all the NIMBYs so we can build high-density housing.

>> No.25721718

If you start beheading every landlord, starting with the richest, the prices will go down real fast. That, plus ban foreign investors.

>> No.25721792

Planning to buy a place in Nevada. Seems to be pretty cheap

Am I retarded?

>> No.25721853

Moratoriums need to end. Then we'll see more foreclosures, which will saturate the market. Majority of people have their rent/mortgage payments on pause, but will have to pay up (all of it) soon enough.

>> No.25721891

Any of you guys got any advice for a first-time homebuyer? My mom is getting kicked out of my home in March, and I'm getting antsy. I have $50,000 in savings but only make about $30,000/year, so the numbers just don't add up for buying a house.

>> No.25721981

>>25721891
Then don't? Or buy something within your means. Sounds like you could have at least 20% to put down. Thus, avoiding private mortgage insurance (PMI). I'd recommend getting prequalified soon so that you can get that low interest locked in. Or "house hack." Get a roommate to pay off the mortgage.

>> No.25722014

>>25721891
borrow only 2 to 3 times your yearly debt, follow the dave ramsey steps, buy crypto, live below your means.