Considering how crazy expensive accommodations have become the last couple of years, concentrated in the hands of greedy corporations, landlords and how little politicians seem to care about this problem, do you think we will ever experience a real estate market crash that would bring those exorbitant prices back to Earth?
Want prices to drop?
Stop buying houses.
Eventually the bubble will burst.
The economy will be shit for a few years. And Eventually things will return to normal.
You heard him! Let’s all sleep outside in the gutters until the bubble bursts.
If you prefer instead, I can sell you my house at its current inflated value.
Can’t sell it cheaper then the jacked up value, because then I can’t afford another house.
Gee, I never thought about all these houses that I was buying without a second thought! Damn, no wonder the prices are going up like crazy!
Sarcasm aside, a lot of real estate is being bought by rich assholes and companies that keep rolling debt on top of debt and using their owned property as collateral for getting more loans and keep the ball rolling. This was the case in 80s Japan and is the current case of USA (almost like a repeat of 2008) and China. If the previous bursts are anything to go by, prices won’t go down.
Population go up. People live where?
I’d recommend either staying with parents, or finding a roommate right now.
Or, checkout some of the van builds. I’d totally live in one if I didn’t have a full family to support.
Anyone who buys property currently is going to lose a LOT of money in the next year or so… so, I’d highly recommend to not buy… unless you don’t mind paying 250,000 for something worth 120,000.
Rofl 250k. I wish I could find a home that cheap. Just closed on a $1.16mil home out in butt fuck nowhere. It’s nothing special, just a 3 bedroom single with a tiny backyard.
Must be in California or near Houston? Or another large city I assume.
But, yea. Prices are doubled everywhere. Pre covid, I was getting ready to build a brand new 3k Sq ft house for around 200-300k.
Can’t even touch the plot of land for that right now. And… the price to build is basically doubled too.
~20 min away from the border of a major metropolitan area, yes.
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