Usa

Usa

Housing bubble burst when

How the fuck is anyone supposed to afford a 500k home when the median income is 55k?

Other urls found in this thread:

sfbay.craigslist.org/sfc/apa/d/temporary-solution/6441043454.html
twitter.com/NSFWRedditImage

Another lanklet trying to get some manlet dick, will they ever learn?

HOME OWNERSHIP A THING OF THE PAST
Privately owned housing would become a thing of the past. The cost of housing and financing housing would gradually be made so high that most people couldn't afford it. People who already owned their houses would be allowed to keep them but as years go by it would be more and more difficult for young people to buy a house. Young people would more and more become renters, particularly in apartments or condominiums. More and more unsold houses would stand vacant. People just couldn't buy them. But the cost of housing would not come down. You'd right away think, well the vacant house, the price would come down, the people would buy it. But there was some statement to the effect that the price would be held high even though there were many available so that free market places would not operate. People would not be able to buy these and gradually more and more of the population would be forced into small apartments. Small apartments which would not accommodate very many children. Then as the number of real home-owners diminished they would become a minority. There would be no sympathy for them from the majority who dwelled in the apartments and then these homes could be taken by increased taxes or other regulations that would be detrimental to home ownership and would be acceptable to the majority. Ultimately, people would be assigned where they would live and it would be common to have non-family members living with you. This by way of your not knowing just how far you could trust anybody. This would all be under the control of a central housing authority. Have this in mind in 1990 when they ask, "How many bedrooms in your house? How many bathrooms in your house? Do you have a finished game room?." This information is personal and is of no national interest to government under our existing Constitution. But you'll be asked those questions and decide how you want to respond to them.

Housing bubble, student loan debt bubble, you better become a millionaire before all these bubbles pop and the united burgers of america becomes a warzone. GOP is making sure this happens quick

I wonder this same thing too user

I live in CA and make good money (150k) and I can't even think to afford a house.

>built in 1950s
>3 bdrm 1200 sqft
>$900,000

it's not right damnit

Blame retards who were willing to take out mortgages for ridiculously marked up prices because they couldn't be assed to do their research and wonder why the banks were so happy to freely give out the loans

Truly a recipe for hell on earth.

underrated

Im buying one for 60k this month, its gorgeous, cant wait to move in

>500k home
lol where do you live? Utah?...... I can't even buy a one bedroom apartment here with that money

It's not the value of the House going up
It's the value of your money going down.

>60k
>gorgeous

Impossible.

...

he probably lives in mexico

Redwood floors and everything, its a 3 bedroom home in an inland city, theres another near it thats my plan b, one is 54k, the other is 59k

>60k
Oh, so this has become a meme now. Nice.

USA my man

>$$80k-$120k salary for 5 years
>live in parents house rent free thanks parents
>save $250k
>buy a $400k house with $150k mortgage
>Pay mortgage off in 3 more years
If you are not a retarded you can buy a modest house. Choosing to live in an area of California with $1m homes is a dumb idea for someone who can't afford it. If I paid rent instead of living rent free, I would have still saved up almost $200k so it's hardly because I had help.

Median millennial income is like $22k and we don't already own. We simply cannot buy at the prices homes are. It's all supply and demand and our families are selling the homes to live in $8k a month nursing homes and passing on nothing.

In 30 years the housing market has no choice but to fall or we will have to live like cockroaches with several people per home.

sfbay.craigslist.org/sfc/apa/d/temporary-solution/6441043454.html

Kill your parents and massacre immigrants as single home owners and investors. The price will fall over night

>live in parents house rent free thanks parents

And for 90% of us that can't do that, we pay about $60k a year for housing almost anywhere that pays us 6 figures. So more like 8-10 years to save $250k even with a good job.

>housing bubble
what are you part of the top 10% and you're trying to buy a house in Brooklyn or Bay Area?
If you're looking for those markets to dip, it will happen soon. VC money is drying up and everyone is consolidating into the blue chips.
There is no housing bubble any where else in the USA.
Prices aren't outrageous and they aren't stacking the market full of dumbies like last time.
You fundamentally don't know what a bubble is.

The real issue is that soon, the bottom 70% of America is renting, and that will only continue. Anybody owning more than one house, is renting the other ones out and making a killing.
The rental market isn't regulated like the housing market is now, and that's where the money's at.
As long as the value of the dollar keeps going down, international money laundering funds will keep investing in american property because they know we are cows.

Future Yahoo Finance article:
Crypto millionaires drive up housing prices!

Move to the Midwest. $120k houses for days.

>klan members and tornados

No thanks

I'm 26 and live in the midwest. Housing is somewhat affordable. Wouldn't buy anytime soon, if ever though. Taxes, upkeep, insurance, immobility all seem terrible.

I live in Ontario, 500k sounds like a steal.

so you say
>find people and companies owning more than one house
>kill them
>profit

Holy fuck I live in the exact thing described at the end

Jesus christ I hate this shit so much. One of the reasons I'm in crypto trying to free myself from this nightmare of living with others

Melissa Mayer go home

Yes, Maoism 101.

When the 401ks start going sour, it's going to be more advantageous for even the boomers to rent their house out at an absurd rate, and move in with their kids, or live in a retirement community. They'll never sell because they're scared of their capital gains tax.

Allegheny County still has affordable houses, but high taxes. That's where Pittsburgh is at.

Whats this from?

But how? Short the market can be really risky. Are there any inverse ETf for just the housing market?

I wish I could afford shorting Sallie Mae long term, fuck those guys.

this

its so sad that all of the wealth you earn throughout your life will not stay in your family but instead makes some cunt extremely wealthy, i know its just the way it works but come on. am i the only one who thinks this is completely fucked? no matter how hard someone works there will always be a thief ready to take everything from right under your nose

>boomers want prices to go up
>import millions of shitskins and beaneros and chinks
>house prices go up
>boomers think this is "economic growth"

I will murder every single last one of you 1960s fuckheads

What's wrong with klan members? You a nigger or something?

During the housing crisis expensive houses sat. The bank refused to lower the price to sell them. So I wouldn't bank on vacancy causing lower housing prices.

We are all literally going to be sharing small apartments with our parents and multiple other families. Sleeping on the floors of any room with space. It's only a matter of time.

>500k
christ just move to rural america. 500k will get you a fucking mansion out here. exaggerating but still

Only escape is through shitcoins

Bitcoin is "only" $15k but it could be the ticket for millennials to own a house in the future.

So that boomers can profit off of milennials' ingeniousness WITHOUT EFFORT?

Fuck no.

>like cockroaches with several people per home
yeah buddy that's already happening.

this is the thing that pisses me off more than anything.
Boomers thought it was a good idea to hire anyone, just on the simple fact that they are asking the lowest wages, aren't unionized, and will never ask for a salary raise.
Real good job Boomers, if you wanted people to withhold and carry your american values, maybe you should have distributed the power inherent in money to the people carrying those values.

>explicitly stating bitcoin is going to experience a new ATH
>2018
shiggeroony ma dude

It's already happening in countries like Japan and Hong Kong

>tfw I told my family to go and die when they got upsetti for me not having a job

This year is going to be fun

Kek. Do you at least have enough in crypto already to pull this off?

>move in with their kids, or live in a retirement community.

>implying kids won't just throw the weak boomers into the forests and let the wolfs be their nurses.

No. It's only the price of financial assets that have gone up, not food, energy, etc. Central banks have created trillions in reserves for speculators to borrow pushing down yields on all investments and pushing up prices. This money has even been seeping into the crypto markets over the last year, why do you think it bitcoin has gone up so much? They wanted these reserves to increase inflation but increasing debt simply decreases GDP growth and inflation, the opposite of what they wanted. The sheer size of the debt alone could cause total system collapse. But unwinding all these reserves at once will collapse it too. This is why the FED is gradually increasing rates and letting these bonds mature ($600 billion per year from this year). This will drain all this liquidity away. They hope asset prices will somehow stay up but that is very unlikely.

Idk where you idiots are but in Australia, you can put a ~60k deposit down on a house and then rent out the other rooms for passive income while you slowly pay off the mortgage. That's how everyone does it, no one really pays 600k up front for a house.

nope, I made my own business online and used it to get into crypto afterwards though, now I have a sexy wench and im about to get that 60k home I mentioned, so feelsgoodfam

this

why dont you guys just move to somewhere exotic and buy a penthouse for 200k?

>have own business
>parents give you shit for not having a job

Did I miss something?

I look at countries like Venezuela to see our future. Our federal debt keeps rising and no one seems to give a fuck. Eventually it will all collapse and we'll all have to sell our homes (or our parents will) to the chinese.

tornado insurance plus you'll be forced to not buy anything expensive because you know. and lets face it yer white trash anyways

Started a business after I told them to fuck off, just jewtube shit

Poorfags btfo

900 a month for a van, nice

Millenials after being held out of traditional housing and family life for so long come to fetishise it. If parents moved in, many would be pleased

Ah. Well done nonetheless, lol

thanks, I want to hit 7 digits and upset them somehow

You need a visa to live abroad.
Panama is a good option for crypto investors. Low taxes, low real estate, easiest visa in the fucking world, and high potential for growth.

I'm going to move to Saskatchewan and hope for the best because I can't afford a house anywhere else

Love my hometown, but the housing prices have increased about 4* in the past 10 years, can't afford it

It's kinda shit that your parents pulled this on you, but don't stoop so low. Just live a happy, fulfilled life on your own terms. That's the best revenge one can get.

cause you don't buy a house every year ...

You fucking idiots. IT IS YOUR MONEY THAT IS GOING DOWN.
>Butt I still has samez amount of $$$$$???
And that same money is loosing tons of value since more and more and more gets printed skyrocketing the price of everything but fucking fiat. FIAT / USD IS TRASH. ABSOLUTE TRASH. Get gold, real estate, stocks, ... Anything but fiat you dumb fuck.

My id says it all

Not my parents my grandparents, I grew up in fostercare because these shits wouldnt take responsibility for me

So yeah, im going to do something like rent a plane and drop 5000 liters of liquid poo straight from the lands of pajeetistan right on their house

you goofy motherfucker. you sure enjoyed walking into the family bathroom after your mom dropped a log, didn't you?

>Millenials will welcome their parents
Not really. One half is all about toxic individualism and are rather living with 50 communists and anarchists in a squad and the other halve is aware that their parents and grand parents are to blame for the current situation and would rather hang them from the next tree than help them out. Sorry Boomer, you had great times from your teens to your mid 50's, the last 2 decades you will have to deal with people who want your wealth and pay the debt you intended to give your children with your blood

By buying land and building a house? Building houses is piss easy. The foundation and electrics are the only trick.

Still, they raised you, fed you, etc. Don't take revenge on them like that. Just show them that you're happy and successfull. If they're good people they will realize their error and ask for forgiveness, if they're shit then they will be resentful of you and it will eat them up (which they will totally deserve in that case).

No they fucking didnt, read the post, they left me in fostercare, and blamed me for not having a job when I was out on my arse at 16

Fuck lovey dovey karma shit im spiteful

In the areas I would want to live permanently it's more expensive to build your own house than to just buy one.
Also I imagine it isn't exactly a one man job.

You probably had shitty ass karma from past lives, pajeet.

Oh sorry, it's late and I'm pretty tired so I misunderstood. I thought you wanted to pull that shit on your grandparents.

Yeah I understand now, fuck those guys lol. More power to you man. Don't let the evil corrupt your heart tho

>me me at the bottom of the housing crash
>offer 63k for a house
>the market dip is so hilariously low, it only appraises for 54k so that's what i pay
>homeowner at 25
>be 31 now
>home worth 150k
>mfw you faggots didn't buy the dip so now you scream that it's impossible

>Still, they raised you, fed you,
fucked the economy, accumulated public and private debt for 5 decades spending it on third worlders hunting the dream of universal egalitarism by distributing "wealth" to Niggers and being greedy idiot investors inflating the most essential things of living. Boomers deserve one thing. A rope around their neck and suffocating hanging from a tree

Dont even care, they'll never get the stink out, just miles of liquid india flowing from heaven like a smiting from the most autistic god

yeah, my mother is too crazy for me to be upset with her, my grandparents are pieces of shit

they even told me the reason I needed to get a job was to pay for *THEIR* retirement

>haha I bought my house 10 years ago while you motherfuckers were 18

>is 31
>hangs on Veeky Forums
sad, really really sad

>homeowner at 25
>31 now
>10 years ago

math is a pretty important part of making money, maybe that's why you're poor user

Yellen rising interest rates
Trump tax plan lowering mortgage deductions
Millennials can't buy houses anyways

The only reason it hasn't crashed is
10 years have passed since the last housing crisis and bankruptcies no longer show

Lol these faggots like to buy high sell low.

By low sell high masterrace

>He bought a Detroit McMansion

>bottom of market
>6 years ago

The chances of you still hanging around on Veeky Forums at 31 are very high. Don't pretend like have some special moral high ground because you're wasting your time on this site when you're under 20. It's bad no matter what your age is.

At least when you're older its easier to BTFO kids because they're so emotionally weak.

Wait you're saying it's the opposite? Fuck

>bought my condo in 2016 in Boston @ $240,000
>in 1 year appraised for $315,000

HODL

Worst decision though was buying my rental property. It's netting me $800/mo, which would be great... except if I put that money into Bitcoin/ETH/LTC at the same time I'd be a fucking millionaire. Instead I'm only at $315k NW right now.

Even if the housing market crashed today I wouldnt be approved because I have no job and student debt.
How does someone with no official income even get a mortgage? I was looking up apartments and even those require that you disclose your income.

Sounds like you are triggered poppy. Get off the internet and start paying off the debts the politicians you voted and didn't removed put on the current generation.

the second dollar sign is where i bought.

I live in the Midwest and have never encountered either of these

>buying a house in a flood zone

ok

My friend in Canacuck land just bought a 2 bedroom house in Vancouver for 750k.

His house is the same square footage as mine, but I have a backyard, and my house was 125k when I bought it and it's now appraised at 200k

The housing market is a joke. My house should never be worth that much

>home worth 150k
So you live in a shithole.
My parents bought their house in the dip and it's worth 350k now.
I doubt we will have a crash again because congress will be quick to bail them out again.

>my city and area code literally in the picture and you can't use google maps to see it's nearly 50 miles from the ocean

holy shit it's like you're trying to lose. stay mad

Kys rich daddy faggot

Woosh