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Started By
Message
1
Posted on 6/10/19 at 7:52 am to DarthRebel
Exactly. Yeah, $50k won’t buy you what it did in 1975, but even then, you had a mortgage.
Posted on 6/10/19 at 7:53 am to The Spleen
Probably more to do with people then built their homes more often then than they do now. Now, most people buy or hire a contractor.
Posted on 6/10/19 at 7:54 am to tigahbruh
What about the automobile market?
Posted on 6/10/19 at 7:57 am to Mud_Till_May
quote:
Wrong
I guess you never watched its a wonderful life.
Posted on 6/10/19 at 7:57 am to Mud_Till_May
They're both incredibly inflated and a bubble waiting to happen. As well as student Loans. The housing market is up to the same shady shite that happened in 08 and since no actual work was done to fix the underlying problems it'll happen again.
This post was edited on 6/10/19 at 8:02 am
Posted on 6/10/19 at 7:58 am to Mud_Till_May
quote:
Its not supply and demand when you add credit to the equation.
How you buy it is up to you but prices are entirely supply and demand related
Posted on 6/10/19 at 8:03 am to Mud_Till_May
quote:
A person now has to go into debt to purchase a house
Posted on 6/10/19 at 8:03 am to Mud_Till_May
quote:
A person now has to go into debt to purchase a house.
This shouldn't come as a shock. Even as anti-debt as Dave Ramsey is he understands this is usually the case were he allows debt. You can always rent until you have a nice down payment or rent until you can buy outright.
Posted on 6/10/19 at 8:04 am to Mud_Till_May
quote:
How do you think prices would look on a supply and demand curve without credit added to the equation?
Physically, houses would be awful and few would own them. Thank God that capitalism and decentralized government have allowed for financial innovation and have drastically driven the quality if life up for the majority of Americans.
Leave my healthy home values alone. Build credit, save for a down, and get a mortgage or go buy a shack in the Mississippi woods for cash. Either way, enjoy.
If you're suggesting that the government step in and control prices, I have a suggestion on where you can stick that idea. Hint: the sun doesn't shine there.
Posted on 6/10/19 at 8:08 am to Mud_Till_May
quote:
Im a democrat because I dont want to get a mortgage?
You're a democrat because your assessment of the housing market is based solely on your person situation.
This post was edited on 6/10/19 at 8:12 am
Posted on 6/10/19 at 8:09 am to Mud_Till_May
Feel free to save for 1+ decades and buy cash. Keep in mind houses will be even more expensive then than they are now.
Posted on 6/10/19 at 8:09 am to EarlyCuyler3
quote:
The housing market is up to the same shady shite that happened in 08 and since no actual work was done to fix the underlying problems it'll happen again.
Half of me don’t want to happen, the other half is like “I’ll take a 4 bedroom on the cheap.”
Posted on 6/10/19 at 8:12 am to Mud_Till_May
A correction is coming soon.
Housing price growth and rental price growth has far surpassed wage growth for several years now. It's not sustainable.
That's not the only reason a correction is coming but it's a huge part of it.
Housing price growth and rental price growth has far surpassed wage growth for several years now. It's not sustainable.
That's not the only reason a correction is coming but it's a huge part of it.
Posted on 6/10/19 at 8:13 am to Mud_Till_May
quote:
Why cant I just save and buy?
I don't know, why cant you?
Posted on 6/10/19 at 8:14 am to EarlyCuyler3
quote:
The housing market is up to the same shady shite that happened in 08 and since no actual work was done to fix the underlying problems it'll happen again.
Yep, which makes me laugh at all the "supply and demand" comments. The housing market is far from a perfect supply/demand market. Anyone that has recently tried to buy or sell a house and had a cash buyer in the equation would know that.
Posted on 6/10/19 at 8:15 am to stout
i ran into an old client yesterday (he owns a lot of rental properties) and he said that the LC market is way over-saturated and now you are seeing company listings getting bigger and rentals staying on the market longer. seems like we's about to experience a correction here
This post was edited on 6/10/19 at 8:16 am
Posted on 6/10/19 at 8:16 am to Mud_Till_May
quote:
But their not paying it, the bank is and they give them an IOU. What if they cant pay their mortgage? The bank takes it and they are back to square one with no credit and their money gone.
Even if you pay cash for a house you never truly own your house. You still owe Uncle Sam property taxes on it every year and are punished in many areas because as the the value increase so does your liability.
Posted on 6/10/19 at 8:17 am to Mud_Till_May
quote:
What about the automobile market?
What about it?
People are free to buy, not buy, keep their cars for a long time, sell their vehicles, buy cheaper or more expensive cars, buy used vehicles, etc.
The automobile market pretty much exemplifies a great free market.
As far as going into debt, I think you may need to inform yourself on how finance capitalism works. It is one of the greatest historical emancipators of human freedom, innovation, and progress.
Posted on 6/10/19 at 8:18 am to SlowFlowPro
quote:
i ran into an old client yesterday (he owns a lot of rental properties) and he said that the LC market is way over-saturated and now you are seeing company listings getting bigger and rentals staying on the market longer. seems like we's about to experience a correction here
He's correct. It is slowing down.
The whole nation is about to see a correction, though. The MBA has their annual meeting at the start of every year and a correction was a big topic at this years meeting. They predict cooling off through 2019 and full on correction in 2020
New housing price growth slowed in the entire nation with a few exceptions for the the 6th month in a row last month. That's a sign of things cooling off.
This post was edited on 6/10/19 at 8:25 am
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