It's bad everywhere. In my area, prices for even just modest homes can reach 800k. I don't make terrible money by any stretch, yet I can't see how people can afford a house in this economic climate. There's a lot of shenanigans afoot, and methinks this unsustainable nonsense will come to an end soon. Might be a time to buy then, if it's even possible.
A lot of my friends have houses that exploded in value but won't sell because they can't buy anything they can afford. Thus, the house market is dead in my area right now.
Don’t worry. If millions die from the jabs, the government will print trillions more dollars to cover up the emergency. Inflation will drive up housing prices no matter how much demand falls.
The impact fees alone are more than the mid-70s cost of a house in Central Fla. In 1963 my mother bought a house with a 12-year mortgage at 55 bucks a month That's under 8k counting interest...
I built a no-frills house in the Philippines for 25k in 2017.
Can't even visit our loved ones in the Philippines right now because I'm not a citizen and will never take the jabs. My son is a dual citizen, no jabs, and he can own property there so we're talking about having something built for him.
For unvaccinated citizens of Philippines, there is a quarantine period at a hotel in Manila of 5 days. Then quarantine at home to finish out a 14-day period from arrival date. Depending on how long her stay is, she will not have to stay in quarantine the whole time. If she's only going for 2 weeks, it's dicey. I've heard people say they don't really enforce the 14 days at your home, but who knows?
It is a direct reflection of how the FED has devalued our currency. All of these expensive prices are a result of these Babylonian money magicians. Making money out of nothing, what a great trick.
But I'm glad it is happening right now because people are waking up to the total scam that is the FED. Their wet dream of making people accept the CBDC digital dollar will never take foot. People will fight like hell not to be a part of that system.
I think this is where crypto comes in. It will be a direct fight between the two, they're desperately going to crash crypto. Once people realize why they are doing it, I think they will opt for crypto over their trash digital control grid.
There's a flight from fiat into hard assets, real estate being one.
Areas of high government financial infusion still see strong demand from investors.
Some red rural areas still enjoys a demand as the city exodus continues.
Loan originators and real estate people being let go as on aggregate, the bubble deflates.
Mortgage companies tighten standard and qualifications. Loans availability tightens up.
Last of the deck chairs being put in place before the ship goes down.
Everyone is hopefully for a controlled crash, hahaHAHAHAHAHAHA
People have no idea of what we are about to go through. But I guess it had to be this way. The only way these idiots wake up is to get kicked in the mouth.
"For fifteen years, prices for houses and apartments in Germany rose rapidly. That now seems to be over: In some metropolises, the trend has already reversed - and that also has consequences for tenants."
I rent now, after owning a house and then condos. My rent is 1,995 in a decent middle-class area. To buy at the current price of 500k would be 100k down and 2,800 a month including taxes and Ins. (Bankrate mortgage tool) but I'm pretty sure they are lowballing the taxes and insurance, then you have main't. House is in pretty good shape but will need rewiring, it was built in the mid-50s. As an almost 64 y/o there is no incentive to buy. Kek
Yeah, same here. I rent for a really good price, building a house would kill me financially. Here in Germany 500k is now a minimum, and that's without taxes and interest. Not doable at my age of 49 with a fam of four.
In IL (not chicago area) you can easily find a decent house for under $200k in a town you’d actually want to live in. I guess that’s the one upshot to so many people fleeing the state for the past 20 years. Before you laugh at me, the counties with the hugest reduction in population over the past decade are all within an hour of chicago. The more conservative parts of the state have faired better.
This happens after every worldwide cataclysm that claims millions of lives. People become richer because of what others have left behind, and supply far exceeds demand.
Nothing to see here, except this is exactly what is implied by this piece. How do they know?
I'm already seeing signs of slowdown near me. There's a house just a block away from me that was marketed at 850k when it hit market. Just about 2 months later it's now reduced by 50k to 799k. I have a feeling it's going to be sitting there for a while longer.
It's bad everywhere. In my area, prices for even just modest homes can reach 800k. I don't make terrible money by any stretch, yet I can't see how people can afford a house in this economic climate. There's a lot of shenanigans afoot, and methinks this unsustainable nonsense will come to an end soon. Might be a time to buy then, if it's even possible.
crazy, better to build yourself as you go and hire out only the work you cant do yourself...
A lot of my friends have houses that exploded in value but won't sell because they can't buy anything they can afford. Thus, the house market is dead in my area right now.
Don’t worry. If millions die from the jabs, the government will print trillions more dollars to cover up the emergency. Inflation will drive up housing prices no matter how much demand falls.
or prices keep rising because we cant get empoyees to build them.
The impact fees alone are more than the mid-70s cost of a house in Central Fla. In 1963 my mother bought a house with a 12-year mortgage at 55 bucks a month That's under 8k counting interest...
I built a no-frills house in the Philippines for 25k in 2017.
Too many fingers in the pie here...
You called it. Administrative fees for construction and taxes on the property rob us blind of our wealth.
Ever fee the state, cou Nty or city charges. It must be stopped.
Can't even visit our loved ones in the Philippines right now because I'm not a citizen and will never take the jabs. My son is a dual citizen, no jabs, and he can own property there so we're talking about having something built for him.
My wife is going in Oct. I'm not because I don't want the jab. I think you can go as balikbayan but then have to stay in your home the whole time.
For unvaccinated citizens of Philippines, there is a quarantine period at a hotel in Manila of 5 days. Then quarantine at home to finish out a 14-day period from arrival date. Depending on how long her stay is, she will not have to stay in quarantine the whole time. If she's only going for 2 weeks, it's dicey. I've heard people say they don't really enforce the 14 days at your home, but who knows?
It is a direct reflection of how the FED has devalued our currency. All of these expensive prices are a result of these Babylonian money magicians. Making money out of nothing, what a great trick.
But I'm glad it is happening right now because people are waking up to the total scam that is the FED. Their wet dream of making people accept the CBDC digital dollar will never take foot. People will fight like hell not to be a part of that system.
I think this is where crypto comes in. It will be a direct fight between the two, they're desperately going to crash crypto. Once people realize why they are doing it, I think they will opt for crypto over their trash digital control grid.
On the money side, I don't have a clue where it's heading except for down to doomsville.
yup, I work in a commercial building still renting and building out. Tradesmen often have no helpers, can't find them...
Just waited 6 months for circuit breakers all while paying intrest. prices going up.
They thinking, money is so inflated its nearly worthless so they are getting rid of it by c9nverting to rel assets.
Cash is a physical holder for what backs it. If yiu hold cash you may as well hold the gold or some other non fiat form of storage.
There's a flight from fiat into hard assets, real estate being one. Areas of high government financial infusion still see strong demand from investors.
Some red rural areas still enjoys a demand as the city exodus continues.
Loan originators and real estate people being let go as on aggregate, the bubble deflates. Mortgage companies tighten standard and qualifications. Loans availability tightens up.
Last of the deck chairs being put in place before the ship goes down.
Everyone is hopefully for a controlled crash, hahaHAHAHAHA HAHA
Yea
People have no idea of what we are about to go through. But I guess it had to be this way. The only way these idiots wake up is to get kicked in the mouth.
Gonna be a rude awakening for most, hard days ahead.
I hope your ready fren.
Good layout lmao. It's gonna feel like a bad hangover dude.
Well, Im Doing it.
Something I read in the German news today: real estate prices are going to drop all of a sudden. I wonder why?
Sauce: https://www.spiegel.de/wirtschaft/immobilien-in-den-grossen-staedten-sinken-die-preise-a-d3d9da0e-7f83-4fda-8ff6-5b977d49a2b4
"For fifteen years, prices for houses and apartments in Germany rose rapidly. That now seems to be over: In some metropolises, the trend has already reversed - and that also has consequences for tenants."
I rent now, after owning a house and then condos. My rent is 1,995 in a decent middle-class area. To buy at the current price of 500k would be 100k down and 2,800 a month including taxes and Ins. (Bankrate mortgage tool) but I'm pretty sure they are lowballing the taxes and insurance, then you have main't. House is in pretty good shape but will need rewiring, it was built in the mid-50s. As an almost 64 y/o there is no incentive to buy. Kek
Yeah, same here. I rent for a really good price, building a house would kill me financially. Here in Germany 500k is now a minimum, and that's without taxes and interest. Not doable at my age of 49 with a fam of four.
Crazy, and modern houses don't last centuries like some older homes do.
In IL (not chicago area) you can easily find a decent house for under $200k in a town you’d actually want to live in. I guess that’s the one upshot to so many people fleeing the state for the past 20 years. Before you laugh at me, the counties with the hugest reduction in population over the past decade are all within an hour of chicago. The more conservative parts of the state have faired better.
A big city's inherent nature is to turn to shit over broken dreams. Smaller, more rural, is much better
This happens after every worldwide cataclysm that claims millions of lives. People become richer because of what others have left behind, and supply far exceeds demand.
Nothing to see here, except this is exactly what is implied by this piece. How do they know?
I live suburbia and $150,000 might be a trailer.
What's your basis on this conclusion? BTW I'm in agreement there will be an implosion, but was just wondering about your timeline.
I'm already seeing signs of slowdown near me. There's a house just a block away from me that was marketed at 850k when it hit market. Just about 2 months later it's now reduced by 50k to 799k. I have a feeling it's going to be sitting there for a while longer.