180k house to 1 million. 800/mo rent to 2800/mo.
(media.greatawakening.win)
Comments (154)
sorted by:
This situation will not last. Hang in there.
Poster is part of a reddit group that has a communism fist for a logo.
He probably voted for this. If he did, his defeat makes me happy.
Anti-work maybe? Shouldn't make you happy though, that's a more than 200% increase in the cost of living arrangements. It's bad enough to make anybody feel defeated.
Not anti-work, but anti-america. The situation sucks and reddit groups like this are responsible.
The satisfaction I feel watching lefties being forced take a big bite out of their own shit sandwich is the only thing that makes my own circumstances more tolerable.
I have the mental fortitude to ride this out, at least.
But it's not just leftists buying houses, is it? From 185k to 935k in 8 years? And you're okay with that. You're not the brightest bulb on the tree, are you?
That is most probably a lie or sheer ignorance. mixed with libtard theatrics. I build single family homes and prices havent changed like that. A house here is roughly $230 per square foot, new.
It really depends on your area. The liberal shit holes have been doing that for awhile, mainly because of anti-build polices and other anti-people rules.
About five years ago, it started expanding to vacation spots. The last few years it's spread to areas that are experiencing the influx of liberal flight.
So e places that number is understated. Some places right on. Some places overinflated. And some it's not happening at all.
It's not a lie. Texas in Round Rock area 280k houses are listing for twice that and offers are being put in for more than the listed price. I'm an hour from there, rural area and my tax evaluation went up 100k from last year. Bubble created to tax people out of their homes. Retired people with fixed incomes can no longer afford to stay in their homes.
Weren't they 150$ /sqft in 2015?
Your failure here is that you are thinking way too hard about my comment.
You must just want to argue on behalf of your lefty comrades.
Let me entertain your half-testicle mindset. I could lose my house tomorrow because of you and your soy boy reach-around-gang and I would still laugh because I will always make due while ol’ Roger-Reachround fastens a noose around his own neck because suicide is the preferable option to coping with his own choices.
Is that bright enough for you?
Whew, Lad! High energy!
cope and seethe haha
Bubbles always pop. No way things can keep going this way.
But in this case, the bubble called the US Dollar is popping right before our eyes. Don't expect that house to go back to 180k.
But also if you voted for this fuck you, and also if you did so and refuse to even acknowledge it, fuck you twice as hard.
Don’t hang in there. Careful woth your words. This kiddo is sensitive.
They don’t call them your pa-Rent-s for no reason.
There's a saying that goes something like markets can remain irrational longer than you can remain solvent
Hope so. The nursing home wants this house for kidnapping n killing mom. All the while trying to waffle about it's worth. Saying 79k . Wrong 10 room folk Victorian on 4 plots of land w taxes at 4k a year...brand new everything..was appraised at 150k during G W Bush hardships. W many add ins. I cant get an apartment even at 3 times the rent in income. One of my previous apartments I rented now over 2500 a month. And it's all still the same. Now I'm reading that the big trucking company y who bought us in 2020 is restructuring. I've been down that path before. It doesn't end well. Hope severance is is good as last one.
The current housing bubble will crash and burn like it always has. The best method to get out from under all this craziness is never be in debt. Live with your parents if they allow it till the opportunity allows something different. Parents with rational children usually don't mind the help.
And if you’re not a whiny little bitch and contribute in cash and effort your parents will allow you to live with them.
Wow. Chill asshole. Reread what I wrote. And think before you spew ignorance.
Many boomerang kids go back to live with their parents and then become whiners, don’t contribute to the household and are drains on the house, financially and psychologically.
I told him to not allow the kid to become that type.
So. Now what do you have to say?
And faggot? Really?
The household should eventually be self sustaining. At one point 6 people were living in my home and bills/expenses were only about 20% higher vs just 3 of us alone. Charging them all rent would be needless and the money would do me no good.
Freeloading, whining, not contributing. Those concepts should not exist to begin with. Family wealth has been eroded culturally as well as tangibly and the uniparty plus Chyna have preyed on that, complete with mental astroturfing to make living with family the most deplorable situation possible looks wise. Very few families are a true safety net impervious to the cabal.
The truth is in the end unless you're reverse mortgaging, blowing your savings and wasting your income to live hedonistically, all children should have an estate to inherit regardless of low or middle or high class. Instead we perpetuate the cycle of rent, leases, and global bankers profiting on what people view as the"right thing to do" when really families should be banding together, accumulating assets and security, and then giving a huge middle finger to the establishment and the system
Let the Chinese and Muslims rot with their giant parking lots and cardboard cages. Let the libtards try to fund their special interests and fail miserably when people are living off grid
Because he is posting on reddit and his profile has a commie fist. He deserves all of this and more.
And H1B1 visa workers. I want all immigration to end.
And "investment firms" like Blackrock who are buying up the homes WAY over value and paying in CASH
Am 30 and live with mum. She wouldnt be able to afford to rent house we've lived in for 10 years if i left. So whilst it suits us both i do feel kinda tralled here...
The idea there is a bubble is false. It’s a supply issue not a cheap or easy mortgage issue. Prices are a bit inflated but not bubble territory. Prices are inflated bc of materials prices, inflation, labor shortages and inventory shortages. We need more homes built more apartments built. The issue is most builders only do custom homes at $400k and up. But again the idea that we are in a bubble and it will quote un quote pop is BS.
In my area ibuyers like Opendoor account for 30% of the home sales. That means they’re probably bidding on nearly every home. They are both driving up prices and reducing available inventory.
With that said i call bs on this story. A house sold for 180k in 2014 now is close to 1mil? Show me any example of a 5x increase in 8 years without massive renovations.
Prices are inflated because of government regulation and needless inspections, taxes, environmental and unnecessary requirements. Example. I want to replace a window. I need to submit paperwork and get government approval to make sure window meets current “green” standards. What I want to do is get a used window that is much better than the old one, but much cheaper than a new one. No it isn’t as green as a new one but much better than the old one and thus better. So to do it, I have to skirt the rules. Why?
Don't die yet...it's all coming down...house prices will drop like a stone
And when they do, those buying these houses will be so far underwater they'll drown.
Those of us who live and own property in rural areas don't see the huge leaps in prices. I'm guessing OP lives in a city, where there are lots of other problems besides housing prices. Wait until the food crunch hits.
I live in a suburb about 40 minutes away from the closest city.
Home prices have climbed from 180-250k to 350-600k for a basic house. Rents went from 1500 up to 2300 as well. My town has always been a commuter town. Handful of restaurants, a Walmart, and some schools. Nothing flashy.
This has happened since Biden took office mainly. A small climb during Trump administration, them skyrocket since.
Hoping to get in on some of the foreclosure sales when it crashes.
That sounds like it's less to do with overvaluation and more to do with inflation. I'm sure both are a factor given we're living in the largest housing bubble in history, but if it's only mainly been since the resident came into play then it's more likely than not mostly inflation.
I said rural is more stable. Suburbs close to a city are not much different from a city. Did anyone expect housing prices wouldn't skyrocket? Chinese have been buying up property for ages. Add in demand from low interest. Add in skyrocketing lumber costs. Add in all the other inflation. Forget the idiotic lies they put out about inflation - it's nowhere near as low as 8.5 percent.
100% correct.
And the mortgage rate is going up to 9%
Mortgage interest rates will be double digits before long.
Housing will drop like a rock when that happens.
And yet CD's and interest rates for the investor still suck.
All rates will eventually go way up.
They will have to tag along when the prime rate get jacked into double digits.
I am thankful I haven't got a mortgage and my heart hurts for those who have.
Amen to that!
Same. My mortgage has been paid for 10 years but my sister is building a house right now and her daughter and her son just moving in to new houses. My daughter has been in a house in the Bay Area for 5 years. I havent asked what she paid but Im sure its more than what Id ever pay without 100 acres attached. Both my brothers still have mortgages.
But my house is big enough to move a few more people in if needed. Wife is lonely and bored without a house full of people to take care of. If she could have more kids I bet she would lol.
You know what needs to die with the housing market? And I mean die permanently because I'm pretty sure its existence is unconstitutional. The FUCKING HOME OWNERS ASSOCIATION. Fuck you karen so what if you dont like the look of my truck in MY drive way go FUCK YOURSELF!
What would kill the HOAs over night would be allowing people to exit the contacts.
I joined my HOA just to stop the damn Karen’s on it. Trust me they hate me with a passion, as I love stomping on them at board meetings…..and I get to vote against their butts!
That's awesome!
I won't upvote you because you are at 17
And you ruffled some feathers. HOA are communism lite and anyone who is ok with it are racist, classist plebs who want to feel a measure of control over other people's lives because they have nothing to live for themselves
If I want a rock garden instead of a Stepford Wives lawn, bright pink house paint, a giant American flag, and backyard chickens, I'm perfectly allowed to do so because it's a FREE country..
I don't care one bit about your "real estate values" you devalue my real estate just having to live next to your retarded quartered pea for a brain
I guarantee you the ones that's feathers are ruffled are the same that will haul you into court because, "your grass is half an inch too long"
False. I too hate HOAs, and refuse to purchase property with deed restrictions.
My “feathers are ruffled” because you’re complaining about something that must be voluntarily agreed to.
If you don’t want to live under an HOA, then WHY BUY A HOUSE IN AN HOA?!?!?!?!???!?
For fucks sake this isn’t rocket science!
Dude if ya couldnt tell I made this post as a joke then I dont know what to tell ya. The fact that your feathers are ruffled shows me that you definitely are that guy who brings anyone into court because you "dont like the color of their car in front of their house" geeze and here I thought it was only the left who hated jokes.
And again you're not paying attention. It ain't my HOA. I dont have any dealings with HOA. Then again someone had a tendies issue that didnt see that I made that clear before. Oh and ad hominem attacks definitely dont help your position here. Call me out all you want keep dividing people all you want here. Everyone hates Karen's and what they do. And so far the only one acting like a butt hurt child you, but whatever makes you feel like the macho man you think you are by all means go ahead.
You know what though I applaud you on your energy. Save it for when shit hits the fan. Cause honestly we need more people like you. If you are as intellectual as you're saying you are. If you're a lawyer or even an average joe. When the chips are down. We need someone with your energy to lead. That's what I'll say. Complaining about HOAs existence and you coming at me like this does not save the country. But you gotta have that same energy and drive to put down the lefties that come after the kids when they start to get desperate and honestly this internet flame war isn't a way to get through it.
HOA is just another tax
Hoa is a scam! So thankful and shocked I dont have one with my house
I hope this person just waits the situation out.
I bought in 2012 in my early 20s. This was the line I'd been hearing out of the older people I knew leading into 2008 to justify not saving. I'd worked renovating houses with my dad, so knew enough about market cycle that these people sounded dumb. Most are complaining about the price of their rent, or bought at stupid prices and will be crying soon and unable to get out of the mess they got themselves into by panic buying if they don't get foreclosed on by thinking variable rate was great savings at the lowest interest rates in decades.
Keep your powder dry. Continue to save every penny you can. Avoid all other debt. Live BELOW your means. When -not if - the bubble bursts, you will have the ability to buy a nice house n a really good neighborhood.
Yes, this is occurring in a lot of places. It sucks.
If you can, and even if you don't want to, find where it is not occurring.
Hint: try rural America, which can be towns that are super small, or perhaps up to 50,000 population or more. You might find it's even better when it comes to raising a family.
If you find a place that needs some elbow grease but nothing major in a rural area you'll likely still be ahead if you have to sell after a crash. Not nearly as possible in a big city.
Agreed
I’m in one of those small rural towns. My house’s value has gone up over $130k since summer 2020 when I bought it.
Move to a different part of the country. In upstate New York, a home can go for as little as $40,000. Not the fanciest, but a nice big house in the semi-country near a beautiful lake. Get out of where you are. Look at Rome, NY and the surrounding areas. Beautiful and cheap!
But it’s still in NYS. Horror.
We used to live in upstate NY. (Capital District) Home prices are depressed up there bc of their very high property taxes. We moved out of the state in 2015. We could only get 350k cash for our 4 BR 3800 sqft center hall colonial with a finished basement, solar panels on roof and a whole house generator on a half acre lot. The house was worth more iIMHO but so many people were moving out there was no one really looking to buy. Took us two years to sell. But we were paying 10k in taxes a year. We built a 4500 sqft home in NC and we currently only pay 3k in taxes. The same home in NY would probably have been almost 30k in taxes a year! Granted my home here in a rural area will not sell for what I paid for it, but overall our cost of living for gas, electricity (water and sewage are a different story) and other things are much cheaper than upstate NY. I now live in a red county in the Bible Belt and am loving it.
You know, most of this is less to do with people overbidding (which IS a factor, but not the main factor) and more to do with taxes and inflation. When you have 7-15% inflation rates, the cost of EVERYTHING skyrockets. Combine this with failed liberal tax policies, and you end up with crap like this because the seller ends up having to raise the price of their house to such an absurd extent, just to make a profit and not lose money over what they paid originally.
Combine this with morons actually paying double or triple the inflated market value, and you end up with the situation we're currently in. Most of the time, it's not even people actually buying the house to live, it's someone buying it as a rental property.
What a lot of people don't realize, is that banks will only loan you so much on a conventional loan. 500K+ houses are when they start getting more picky about what kind of house they'll loan that kind of money on. It's one of the many reasons it's hard to get a home loan in places like california, because it's hard to justify spending half a million dollars on a starter home regardless of location. It's just not likely to hold that kind of value in the long term, and when you're talking about a 30 year mortgage, that's a long time with a lot of variables.
But when you start talking about $1 Million+ homes? Well now you can't even get a loan from the bank. You're over the federal mortgage insurance allowance now, so you have to get a Jumbo loan with extra strings attached, and an INCREDIBLY in depth property analysis. Jumbo loan companies also often have MUCH stricter income requirements before they'll approve you. This isn't the type of loan anyone an get. You either have to be an established high net worth individual with stable income (assuming this is a personal use home), or you have to be buying the property as a rental in order to create income. And the latter is MUCH easier way to get approved on a Jumbo loan.
With all that in mind, most of these absurd housing sells where you have starter homes selling for the $800K+ range are almost entirely investors buying them up to rent them out, or sitting on their money because they need somewhere to park it after they pulled it out of the stock market (since we all see that crash coming too). And it's not just blackrock and vanguard like some seem to believe. In fact, they're a VERY tiny factor in this. They mostly go after commercial properties with only a small allocation towards Single Family Homes. I believe it's something like 95% of all Single Family Rentals are owned by individuals or small companies with a less than $1 Billion in capital investments (which sounds like a lot but when you're talking about real estate, it's not that much, especially with today's inflated prices).
The people doing this are simply wealthy individuals looking for a safe haven for their wealth during the coming crisis. Remember, there's more millionaires and billionaires in the US than any country on the planet. Not every single one of them has doctor evil money, in fact, most are simply around Trump tier in terms of wealth.
So yeah, it's crappy, really crappy in fact. And I honestly wish I or anyone else knew how to fix it. But the truth is, the only way to fix things at this point, is to let it all crash and start over. Which will probably be happening much sooner than we think in all honesty.
But on the bright side, once things crash and burn, combined with the new revised financial system we all theorize is coming, we'll probably see housing prices and rents at the same level they were in the 50s and 60s. Meaning if you live in a city or urban suburb, rent will be dirt cheap, and if you live in a housing division or rural setting, houses will also be selling for dirt cheap compared to today. That's of course assuming you're not going for some high end luxury apartment rental or (sub)urban mansion.
This is blackrock and vanguard buying up assets. a 180k house to 1 million is ridiculous and makes no market sense. There is no supply chain for existing homes to mess up and they can't burn them all down. So they create a shortage by driving up prices and buying them all.
I think governments printing money like no tomorrow has a big part play in it and is also a reason WHY Blackrock & VG are buying hard assets since sitting on cash is the same as lighting it on fire these days.
True
Convert your cash into SILVER AND GOLD NOW! But. You must hold it in your hands, not in paper. You need to locate a REPUTABLE bullion dealer near you, walk in, buy what you can afford and walk out with it in your hand. Now store it safely at home. And don’t be tempted to tell anyone where it is. If you had $1000 in cash stashed away, you wouldn’t tell anyone- so don’t tell anyone about your silver and gold.
GOLD shall destroy the FED. Q
"God's money" as Richard Kiyosaki calls it.
This actually made me cry!
Blackrock and Vanguard buying in bulk?
Either that or gentrification which means they're comparing crack houses with condos.
Move. Move somewhere where the real estate is more affordable and watch the bubble explode from a distance.
Move out of the suburbian hell already. That's where the irresponsibly expensive shitholes are. If you want to live in an endless expanse of nearly identical houses with nearly no space between them, a tiny backyard, and a group of curmudgeonly elderly people on a power trip to tell you what to do with the house you paid way too much money for, then by all means. It's not for me.
whoever downvoted this hates the truth apparently. what's the point in paying a small fortune for a tiny plot of land that you can't even do what you want with unless your neighbors are ok with it?
Exactly! What’s the point of buying a property that includes deed restrictions?
That’s f’ing stupid!
This is not free-market capitalism. Wall Street is manipulating housing prices for their WEF masters so you’ll own nothing, and be happy.
Local communities can fight this by forming housing associations with restrictive covenants.
https://www.wsj.com/articles/homeowner-groups-seek-to-stop-investors-from-buying-houses-to-rent-11650274203
Think carefully about your future. My kids are grown now but if I were starting out I'd look for a small rural community with people of my own values; a school system that reflected those values; ground to garden on. And ditto; avoid debt. Debt destroys options.
All part of the plan. For now we must suf- I mean hold the line.
RV. Cheap, fun, life experiences abound.
Happening in Texas, too, with all the transplants driving up the housing market. Houses in my neighborhood that started at $140k back in 2006 are now selling well over $300k. It’s crazy! Also, landlords of rental homes are boosting rental costs due to property tax increases.
Buy a used mobile home for a few thousand dollars. You can pay it off in three years. Live in a trailer park until it's paid off. Then look for some property. Buy the property, put down a well and septic system and move the trailer to one side of the property. When the property is paid off, start building a small house as you can afford materials and labor. When the small house is done, sell the trailer. If the trailer was old enough, you can probably sell it for what you paid or even more. Now you have a house, and you can add on as you can afford it.
Most of the older generation did not get married and immediately buy the house of their dreams. They rented, then bought something cheap, and then traded up as they made more money. You're wanting something immediately that took older people 30 years to get. You must work your way up to it. The TV shows give people false aspirations. Sure, two professionals making huge paychecks can buy a big home at the start. But most newlyweds can't do that.
My half-brother's son spent 197k on a new trailer, he had the lot...
Pure usurious criminality… this will not stand
But now you will have raising interest rates to fight soon. Thanks JOE, you fuckhead!
If you see prices that high you just need to move to an affordable state. Even with skyrocketing prices we average around 310k in my city and its nowhere near the cheapest city. Most people that complain never even consider moving somewhere cheaper
Don't give up. Better days are coming even if we have to do what the military hasn't. This to shall pass.
yep, same happening here with all the californians moving in. realtors will stage bidding wars and pretend like they have other offers. and they'll sell land with a view then build apartments right in front. they come in and ruin the area then move on to the next, it really should be illegal
But hey….. raise that fist…. Black lives matter….
For those that already own their home and think you are safe. What's your tax bill going to be when your $200k house suddenly evaluates at $2,000,000?
Fla. is great, homesteaded house can only go up 3% per year for taxes
So there is a cap on how high they can raise your taxes based on your value? That would certainly help.
Yeah even California has that
Yes! The cap your property tax increases so it cannot be raised more than 3% per year, even in times of rapid growth/inflation. You must live in the home as your primary residence.
In all seriousness though, it's scary how fast this is happening. Luckily I rent privately from a decent human being so the raise on my rent thru all this has only been $50/months, but I have 2 friends who live in developments who got notices of $400 and $500 raises respectively because it's "current fair market value" or some shit. I get where this guy is coming from cause I worked my ass off the entirety of my adult life and just started to get ahead right before covid. Now I'm slowly watching the bottom rise up realizing I'll be joining the poor crowd pretty soon. Not that I'm wealthy now or anything, but to finally have some financial comfort and watch it slowly drifting away is so incredibly frustrating, especially when you see it happening over some stupid bullshit lies and being done by a bunch of fake bleeding heart con artists.
Relax. I bought my first house for $46K at 20 years old. Interest rates were 12%. I rented it out immediately for a loss of $50 / mo. That went on for a few years until I could raise rent to cover. Bought next house for $63K with borrowed money for down. Rented it out to cover payment. All the time living with roommates in a dorm like manor. Saved and bought #3 for $92K. Rented it out to cover. All appreciated during this time to build equity and raise my income. Kept on the plan and kept buying more. Never mattered the economy. Sacrifice and get the first one under your belt. Buy and hold. Remodel them, keep them in tip top shape for max rent. It only takes a few years and you can be set and swimming in money. Don’t tell me it’s too expensive. Buy a fixer and get at it. Find the pig in the neighborhood. Start there and quit whining. Everyone can do it. If you lack skills, educate yourself. I have been hearing excuses for Ryan’s and it’s BS period. Forty years later I am in the midst of two fixer rebuilds. Get on with it.
This bubble will go on, most likely, for a lot longer than you think it might.
Obviously this could go either way. But here is my rationale for why the pain is going to continue: We are at war.
We are at war, and this is an information war, an idea war, a war for your mind. And folks like Vanguard and Black Rock (they are basically the same thing, in my view) are on Team Evil. And want to put you into a renting reality.
"The Year is 2030 and you own nothing."
Yep. That is what they are doing.
So real estate values will remain within 10% of their current valuations, despite the rate rise, for the next six months or so. Perhaps even more. Because for Black Rock, they are thinking about these assets (homes) like a bond, and their window is 30 years, and they are also planning on getting the US gummint to subsidize them. So... you are not competing to purchase this home against another family.
You are competing against The Machine™.
This, I believe, is the primary reason home prices are skyrocketing. It doesn’t make sense for any other logical reason. This isn’t a normal market where normal factors are influencing prices. The housing market, just like the stock market, is being severely manipulated by institutional investors and bad actors. Unfortunately, I also think it’s going to go on longer than we all think / hope.
We sold our house in a major metro area last year and made a killing, but because home prices are still high where we moved (FL), we are still paying a ton when you count in mortgage, taxes, insurance. At least we were able to get locked into a super low interest rate. We tried to wait a year and rent, but with rents skyrocketing also, it actually is cheaper to own right now for us at least.
There is also Cleanest Dirty Shirt money too.
Folks who have ill-gotten or legally-gotten gains from outside the USA will continue to pile into this market, buying homes. Nobody stops them, so they will continue. They jack up the prices of CA real estate, but increasingly real estate in other places as well.
By far, though, the biggest problem is Black Rock/Vanguard. Those folks are tryna put y'all back in chains, like Biden promised.
P.S. Of all possible places, FL is a good one to be. Make sure you have food and guns and ammo and walkie talkies. And I am not even joking.
I should add something to wrap your noggin around.
The mortgage interest rate is irrelevant.
Why? Because Blackrock borrows at 2% from institutional investors. They don't do anything so base as to go get a mortgage, like you great unwashed heathens (in case you think I am slagging you off, nope. I am one of the unwashed heathens too). They also can afford to just pay cash. And because their business cases is a 30 (or perhaps even 40) year business case, and because they are planning on getting subsidies from the US gummint and also raising the rent on you whenever they feel like it at a rate that would make your eyes bleed ... the price of the home is almost irrelevant. Pay 130% of the asking price? Sure. No problem. It makes sense for them. Just not for you.
Come join us far away from any city.