[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 440 KB, 792x767, 1592408818714.png [View same] [iqdb] [saucenao] [google]
56514499 No.56514499 [Reply] [Original]

The housing market is crashing.

>> No.56514515

>>56514499
Yep. Crashing upwards

>> No.56514516
File: 139 KB, 305x442, 1697991374591080.png [View same] [iqdb] [saucenao] [google]
56514516

>>56514499
you should have bought the top and shills were shaming you into doing

>> No.56514524

>>56514499
>winter time
It's fucking nothing stay mad rentoids

>> No.56514536

>>56514524
you will be selling $10 BJs honey

>> No.56514593

>>56514499
>government lets in a million pajeets

nothin personal millennial

>> No.56514635
File: 12 KB, 457x123, Screenshot 2023-10-30 224835.png [View same] [iqdb] [saucenao] [google]
56514635

IT'S FUCKING OVER HOUSEBROS

>> No.56514658

>>56514499
Yup I work for a big fat cat builder and new builds are at a absolute snail crawl and they are all panicking, come next year 1000s of tradesman will be homeless and bankrupt so expect crime to soar unlike anything you have ever seen

>> No.56514678
File: 8 KB, 223x226, 1600977493592.jpg [View same] [iqdb] [saucenao] [google]
56514678

>>56514658
>1000s of tradesman will be homeless and bankrupt so expect crime to soar unlike anything you have ever seen
Wait, tradesmen will get WORSE with their crime?

>> No.56514697

>Muh house prices cut
>Muh low demand

There's two kinds of people. People who pay their own mortgage (homeowners), and people who pay someone else's mortgage (renters). The universal truth is that it's better to be a homeowner. Renters saying otherwise are on copium because they don't realize the reason they'd rather rent is because they can't buy. Great bargaining power.

For houses to get affordable, you need mortage rates to come back down, and house prices to come back down. Simultaneously, which isn't possible as long as supply is lower than demand, and new homes has been slow for the past 15 years and there's no getting around that. A 3% mortgage rate during covid made it worse because people rushed to buy the inventory, good and bad.

The reason house prices are going down in some areas is because the cookie cutter cheapo plywood suburbian houses in CA and TX are turning out to be dogshit values, because they're low-tier homes sold at mid-tier prices to garbage-tier people who wanted the american dream while working their pointless remote jobs on their laptops by their pool. That's the bad inventory and it's worthless.

The good inventory was bought by boomers in the last century, or smart people before 2021, they bought it for cheap, at low rates, and they will NEVER let go of it until they die or trade upwards.

If mortgage rates go down, prices will go up because demand will go back up. If prices go down, demand will go back up, and prices will stay high, at a slightly lower price than now. Maybe.

The only solution is to wait for boomers to die, and that's going to take another 10 years.

>>56514658
a absolute snail crawl and they are all panicking
Short term, this will lower prices, but not by much because everyone will want the last remaining new builds. Long term, it's going to be catastrophic because this makes the supply and demand situation worse.

"You will own nothing and be happy and live in a pod" isn't a meme.

>> No.56514701

poisoned?