By Fenderputty Go To Post😂
Fuck you
By reilo Go To PostDoAMaybe Trump will run as a democrat this time
If that's the party's future they're fucked. They have offered absolutely zero substance politically over their careers. They just have kinda existed.
By DY_nasty Go To PostMaybe Trump will run as a democrat this timeVote blue no matter who.
A gun battle between rival gangs inside an actual prison.
Someone somewhere has lost the fucking plot.
Someone somewhere has lost the fucking plot.
I mean if they are already decapitating each other and mutilating the bodies a gun battle isn't outside the realm of possibility.
By Fenderputty Go To PostI have no doubt Trump wins 2024 if things don't change for the better ASAP.
Fuck you
the median home price in small- and medium-size metropolitan areas rose by jaw-dropping levels: Boise, Idaho, 46 percent; Phoenix, 36 percent; Austin, 35 percent; Salt Lake City, 33 percent; Sacramento, 28 percentSince March 2020. RIP.
Even so, millennials, many of whom came of age during the Great Recession, will probably never make up all those lost earnings from their early adulthood. Now the largest living generation, they control just 4 percent of America’s real estate equity; in 1990, when baby boomers were a comparable age, they already controlled a third. What’s more, because of the financialization of housing, millennials need more savings or to take on greater debt to buy a house than previous generations did. The end result is that millennials buying their first home today are likely to spend far more, in real terms, than boomers who bought their first home in the ’80s.🤮🤮
In 2019, Galli decided he wanted to diversify, so he spent eight months studying cities online and kept coming back to Austin. It had high-income job growth and an influx of venture capital, the very things that had made Bay Area real estate so lucrative. Galli bought a large map of Austin and mounted it on the wall, studying it in the evenings with a glass of red wine in hand. He stuck Post-its onto points of interest: Apple, Samsung, Tesla, new transit lines. He believed he understood what tech workers wanted: spacious feng shui- and Vastu-compliant homes, with a bedroom on the first floor to accommodate foreign parents on long visits. And most important, good school districts. He resolved to acquire 10 homes within a 12-minute drive of Apple. For $1 million down, he’d own $5 million in assets that he would rent out for top dollar and that he believed would double in value in five years and double again by 12 years.This is fine
Then there was a 35-year-old tech worker in Long Beach, Calif., who bought a house in Round Rock for $300,000 last October. By January 2021, it was worth roughly $400,000; in February, he bought two more. His winning bids were two of dozens that his real estate agent, a former equities trader who now works primarily with individual investors, made sight unseen, all of them for at least $40,000 over the asking price.
By Old King Rob Go To PostWho is moving to IdahoIt's just an investment m7. Pumping the market with cheap money.
By Frustrated_me Go To PostWonder what Varoufakis thinks about the Uyghur population in China?
"They're Turks so lol glad they're dying"
China been doing this shit to Turkic minorities in Asia since at least the 700's.
Sucks to read and the only solution I see is getting government to write legislation banning home purchases for the intent of renting or as investment vehicles. But that will probably create more problems than there was before.
By Blue Go To PostSucks to read and the only solution I see is getting government to write legislation banning home purchases for the intent of renting or as investment vehicles. But that will probably create more problems than there was before.working as designed, bro *Reagan sheds a tear of joy*
By Patriotism Go To Post"They're Turks so lol glad they're dying"Bro it's insane, Erdogan literally gave them up to the Chinese for China made vaccines, shits so fucked up. Reading stories about these people being dragged out from their homes in Istanbul in the middle of the night to be deported to China for reconditioning.
China been doing this shit to Turkic minorities in Asia since at least the 700's.
In 2021. We're so better than this.
By Frustrated_me Go To PostBro it's insane, Erdogan literally gave them up to the Chinese for China made vaccines, shits so fucked up. Reading stories about these people being dragged out from their homes in Istanbul in the middle of the night to be deported to China for reconditioning.
In 2021. We're so better than this.
By Lunatic Go To PostClearly we are not
ya
By Blue Go To PostSucks to read and the only solution I see is getting government to write legislation banning home purchases for the intent of renting or as investment vehicles. But that will probably create more problems than there was before.Rentals are part of the same market as houses for sale. If lots of investors are buying up homes for renting, then house prices are bid up but rental prices will fall or remain stable, and at some point the market reaches equilibrium as it becomes a bad investment. The problem is not that private investors or institutional investors are buying up rental properties. It's that there is no downside. Supply is restricted so rents keep going up in most places. And even if they don't, house prices rise so fast you still make a huge return even if you leave the place empty.
You have to address the core issue, which is that there aren't enough homes full stop.
By sohois Go To PostRentals are part of the same market as houses for sale. If lots of investors are buying up homes for renting, then house prices are bid up but rental prices will fall or remain stable, and at some point the market reaches equilibrium as it becomes a bad investment. The problem is not that private investors or institutional investors are buying up rental properties. It's that there is no downside. Supply is restricted so rents keep going up in most places. And even if they don't, house prices rise so fast you still make a huge return even if you leave the place empty.this is certainly a take
You have to address the core issue, which is that there aren't enough homes full stop.
By sohois Go To PostYou have to address the core issue, which is that there aren't enough homes full stop.Yeah this is it
By reilo Go To Postthis is certainly a takeIt's just supply and demand. pretty regular economics. Unless you think that supply and demand will never be able to apply like xpike
I love boiling everything down to just supply-and-demand economics because it's not like there's other deep seeded issues that prevent affordable homes, or anything. It's just supply issues, bro.
EDIT: LMAO I posted this before seeing sohois prior post 😂
Hey people of color, you just gotta wait it out for more supply. There's nothing else stopping you from buying a home!
Damn you're on one.
EDIT: LMAO I posted this before seeing sohois prior post 😂
Hey people of color, you just gotta wait it out for more supply. There's nothing else stopping you from buying a home!
Damn you're on one.
Of course there's a ton of granular factors which will affect individual places, people, groups and regions. But the original post was just talking about spiraling prices in some American cities. I responded to Blue who suggested restricting renting and investments in housing.
At that kind of level, we can just talk about supply and demand. If someone wants to talk about structural racism in housing or homelessness in San Fran or airbnb taking over cities or something quite specific, then I wouldn't have made that post
At that kind of level, we can just talk about supply and demand. If someone wants to talk about structural racism in housing or homelessness in San Fran or airbnb taking over cities or something quite specific, then I wouldn't have made that post
Things I see rarely addressed: many people can afford homes but they're in places where work isn't. A lot of this could have been solved by business staying with the telecommuting gains of covid but instead we're back to people driving up demand and prices in metros and outlying areas because they have to go into a brick and mortar again.
Affordable housing is not a matter of market economics ffs
We should stop treating it like a privilege as if people are just buying a slightly more expensive car
We should stop treating it like a privilege as if people are just buying a slightly more expensive car
By sohois Go To Postidk much about Reagan and housing to be honest, so I can't say I understand the reference.It is a bit granular tbf
By reilo Go To PostAffordable housing is not a matter of market economics ffsEven in a situation where government owns much of the housing stock and rents it (or similar systems), the likes of the US, UK, Canada, Australia, etc. would still need to build a shit ton more housing to meet demand in their major cities. It would still come down to supply in the end.
We should stop treating it like a privilege as if people are just buying a slightly more expensive car
I'm certainly in support of more council housing here in the UK, but I would also like for things like the greenbelt to be heavily reduced and much more private housing allowed as well.
I keep writing up paragraphs and erasing them. The tl;dr is that housing demand isn't even the house in most instances, it's the land and the area being more desirable for a multitude of reasons. We'll also see shit driven up as climate change gets worse and people who can afford to move to areas less fucked, will. This is going to be an ongoing problem as long as we develop housing/shelter through a "but developers gotta be paid" lens rather than a humanitarian one.
In an ideal world the governments of many of these places would try to get more areas outside the major metros to be centers of economic commerce and modern industry so there are more desirable places to live and work but you know one can dream.
In an ideal world the governments of many of these places would try to get more areas outside the major metros to be centers of economic commerce and modern industry so there are more desirable places to live and work but you know one can dream.
By sohois Go To PostOf course there's a ton of granular factors which will affect individual places, people, groups and regions. But the original post was just talking about spiraling prices in some American cities. I responded to Blue who suggested restricting renting and investments in housing.But I’m saying we shouldn’t treat renting or owning a home as some form of investment. Because then it will become like any other capitalistic commodity undergoing market pressures such as greed, hoarding, fomo, etc. How to piece legislation that can address this without making the problem worse by hurting some at the cost of benefiting others and a host of other problems is the question.
At that kind of level, we can just talk about supply and demand. If someone wants to talk about structural racism in housing or homelessness in San Fran or airbnb taking over cities or something quite specific, then I wouldn't have made that post
Supply and demand economics is definitely a copout argument considering a lot of it was created by bizarre zoning laws
Unfortunately it isn't so nice to dumb it down supply & demand economics. Too much outside inputs that don't abide by predictable models. One thing you have to do is buy property in the next 10 years or you will be effectively priced out the market.
It's just supply and demand and there's a whole bunch of politics involved in both.
Excuse me, did you mean to write in the last 10 years?
By Lunatic Go To PostUnfortunately it isn't so nice to dumb it down supply & demand economics. Too much outside inputs that don't abide by predictable models. One thing you have to do is buy property in the next 10 years or you will be effectively priced out the market.
Excuse me, did you mean to write in the last 10 years?
Nah there is still a chance for those in the market for one now if this have a decent job. Unless of course you live In one of those super inflated markets like those in New York and California
The main YIMBY argument is that zoning laws and development restrictions are preventing the normal functioning of the market, because supply is simply unable to rise to meet demand
By Lunatic Go To PostUnfortunately it isn't so nice to dumb it down supply & demand economics. Too much outside inputs that don't abide by predictable models. One thing you have to do is buy property in the next 10 years or you will be effectively priced out the market.did you mean in 1952?
By Lunatic Go To PostUnfortunately it isn't so nice to dumb it down supply & demand economics. Too much outside inputs that don't abide by predictable models. One thing you have to do is buy property in the next 10 years or you will be effectively priced out the market.The supply argument doesn't address that local governments are purposefully denying new development because their NIMBY constituents are telling them they don't want it.
It's purposefully limited because the established home owner class (yes, class) doesn't want new construction because density it impedes on their privacy/individuality and their inflated market value.
And that's before we touch the racist/anti-poor/anti-homeless aspects of it all.
"We just need to build new homes!!" addresses none of it because the impediments to new developments from the haves.