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/biz/ - Business & Finance

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53865295 No.53865295 [Reply] [Original]

>housing prices actually went up the last 2 months

Wtf is this shit? Where is my fucking crash???

>> No.53865301
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53865301

>>53865295
noob

>> No.53865311

>>53865295
all of this wouldnt happen if they had just banned banks from using houses as speculative assets, that would literally fix the problem. but no no no hurr durr thats commie shit

>> No.53865334

>>53865295
/biz/ got the housing narrative so wrong because theyre all millennials with ptsd from 2008

>> No.53865356

>>53865295
Housing prices probably won't come down anytime soon unless there is some kind of financial crisis that forces people to sell to pay their mortgage. That happened in 2008 because everyone had variable-interest-rate mortgages and homes that they couldn't afford. When everything went belly-up they were fucked and had no choice other than to sell. The system in place today is totally different, and most people who own homes have fixed-rate mortgages and can afford to make payments regardless of what happens to the market. They aren't likely to sell unless they get fired from their jobs.

Housing will become more affordable when interest rates come down and there is more supply. Right now there is low supply and high interest rates. Hopefully they don't go up while everything else catches up and people have more money to pay for them.

>> No.53865523

>>53865295
TWO WEEKS

>> No.53865571

just the last suckers buying the top

>> No.53865583

>>53865295
Dead cat bounce, retard.

>> No.53865600

>>53865356
This incel is right.
Also, if you live in a bigger city with high immigration inflow, the demand outpaces the supply.

>> No.53865645
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53865645

>>53865295
The next big happening isn't going to be a housing crash, it's going to be increased race riots, looting, arson and crime because EBT no longer covers foods like meat / instant meals and ghettos are getting gentrified because housing is increasing in value. Blacks are the poorest subset of Americans and will feel the effects of stagflation first. Their backlash on cost of living will be branded as fighting against racism.

Russia and China will likely coax the fire with information campaigns.

Black Americans are a doomed race at this point in time. In the 90s, it seemed like things were going to get better and reach some sort of parity and understanding, but now there is no future in which they succeed. That's an entire subset of the American population with no assets, completely demoralized and detached from society as a large.

A couple cities are probably going to burn this summer. Asian and Indian immigrant business owners are going to get pummelled. Insurance stocks are going to plummet.

>> No.53865676

>>53865295
Two more weeks until hoomers are underwater. Waitchads will be buying homes half off.

>> No.53865735

>>53865356
This does not explain why even in countries with no fixed long term mortgages like the uk (usual is 5y) it's also going up

>> No.53865782
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53865782

>>53865295
Post a graph, Canada fell.
Calling bullshit

>> No.53865801
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53865801

>>53865782

>> No.53865805
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53865805

>>53865735
UK falling , GBP also in the shitter

>> No.53865817
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53865817

>>53865801
sorry i didn't realize you were retarded

>> No.53865971

>>53865782
Canada was hyper inflated and is being offset by like fucking insane prices in city centers beyond that of anywhere else globally. Was destined to cool off either way.

>> No.53866453

>>53865971
UK also falling. It's the increase in the cost of money. Same everywhere.

>> No.53866495

>>53865295

Where? My Zestimate actually went down $14k between January and February.

>in b4 Stacy memes

>> No.53866598

>>53865356
>Housing prices probably won't come down anytime soon unless there is some kind of financial crisis that forces people to sell to pay their mortgage.

Wait until student loan repayments start back up, probably a lot of millennials who bought overpriced houses and cars over the last couple years and didn't bother to leave enough margin in their budget to cover student loan payments because Uncle Joe was supposed to cancel them.

>> No.53866636

>>53865311
Why does it matter for affordability whether a bank or individual investor owns it?

>> No.53866662
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53866662

>>53866495
>>in b4 Stacy memes
Honey the zestimate!

>> No.53866682

>>53866598
>wait
>probably

TWO
WO
O

WEEKS
EEKS
EKS
KS
S

>> No.53866700

>>53865645
I sincerely hope so. Whatever needs to be done to reinstate segregation. Please.

>> No.53866710

>>53866682

I'm just saying, it could get ugly. There are normies out there with $1k+ car payments. Fucking car payments, not mortgages. God knows what they're shelling out every month on the house.

>> No.53866730
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53866730

>>53865645
>Russia and China will likely coax the fire with information campaigns.
>A couple cities are probably going to burn this summer. Asian and Indian immigrant business owners are going to get pummelled. Insurance stocks are going to plummet.

>> No.53866744

>>53866710
Literally everyone makes $15k+ a month now after taxes lol a $1k car payment isnt much... i just saw some nigger woman HR lady on LinkedIn accept a $200k position

>> No.53867317

>>53866744
USA median wage is $54k so 4.5k/month, gross.

>> No.53867328

>>53865295
Sorry. Better keep saving up for that down payment my dude. Stop betting against the Fed.

>> No.53867344

>>53865356
>had no choice other than to sell

They didn't sell. They walked away and gave the home to the bank.

>> No.53867354

>>53865356
It’s not that hard to build a house jesus christ

>> No.53867539

>>53865334
A lof of what happened in 2008 is happening now, just in a different way.

In the 2008 crash, supply was restricted by banks who didn't want to release all the foreclosures at once and crash the market. Now, supply is restricted by people who bought prior to 2022 and have super low mortgage rates, and don't want to sell their property when rates are high.

In the 2008 crash, the only people who could take advantage of the bottom pricing on distressed properties were cash buyers, because banks wanted cash for their foreclosures. Right now the only people who are getting a deal are cash buyers, because even with the dip, mortgages cost more as rates have doubled.

>> No.53867752
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53867752

>>53865356
>happened in 2008 because everyone had variable-interest-rate mortgages
>can afford to make payments regardless of what happens to the market.
>when interest rates come down
>low supply
>people have more money to pay for them.

7/10 bait, you tried.

>> No.53867793

i have 250k in cash and make 115k and 26. single rn. i went to an open house today. Packed with indian h1b faang engineers. i have no shot in buying a house in the current decade :(

>> No.53867797

>>53865301
2 more weeks?

>> No.53867801

>>53867793
>indian h1b faang engineers
Canada?

>> No.53867882

>>53867801
im in nj

>> No.53867924

>>53867882
That sucks. Indians will pool money together to buy a house too.

>> No.53867949

>>53865645
>Black Americans are a doomed race
They survived slavery, nothing will get rid of them

>> No.53867955

>>53867924
yeah basically 2 families planning on buying home with plans of living on top of each other like theyre used to in india....5 cars filling up street parking.

>> No.53868115

>>53865295
Housing won't crash as long as inflation remains high

>> No.53868152

>>53865356
Fixed rate mortgages can be changed in "extreme circumstances", i.e. whenever the fuck Schmule wants.

>> No.53868273

>>53865295
house here aren't worth what they were before.
there are 2 houses or sale on my block.

>> No.53868341

>>53866636
yeah, i think the better fix would be to ban long-term rental contracts. either live in it, make it into a hotel or business, or sell it.

>> No.53868348

Why are there so many real estate threads lately?

>> No.53868402

>53866744
>Literally everyone makes $15k+ a month now
Tween faggot, not even worth a (you)

>> No.53868466

>>53868348
I just want a god damn house.

>> No.53868531

>>53867793
h1b reform when? im sick of pajeets.

>> No.53868676

>>53865600
>if you live in a bigger city with high immigration inflow, the demand outpaces the supply.
Until it turns into detroit

>> No.53868897

>>53867354
>It’s not that hard to build a house
You need a permit to do that. Or in the UK, planning permission.

The key is, they just restrict the number granted to keep the supply low.

>> No.53868916

>>53868531
It's not the h1b that's the problem, it's that most of the people sponsoring them are tech companies, universities etc. So, ponder the attitudes and demographics already in place in those institutions.