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Started By
Message
re: Housing Prices: The Whole Country Is Starting to Look Like California
Posted on 7/1/25 at 10:54 am to HubbaBubba
Posted on 7/1/25 at 10:54 am to HubbaBubba
quote:
My daughter is 24. She and two business partners, one with real estate license, the other with a marketing degree, started a real-estate investment company and now own four rental homes, are currently negotiating on three more and have just started their own contracting company for renovations and the tax advantages. I am on their board of directors and help provide some guidance and research.
where she got the capital to do all that
there is no shame in that but what you are describing isn't realistic for 99% of 24 year olds
1
Posted on 7/1/25 at 10:56 am to Chucktown_Badger
1. Yes and that’s why I know. This was a recent event for us. I used to make $70k with masters degree in SF
2. Check job listings. Remote is dying and employees are being laid off.
3. Read Op
2. Check job listings. Remote is dying and employees are being laid off.
3. Read Op
Posted on 7/1/25 at 10:59 am to HubbaBubba
quote:
This is what you get by being near the top of your class in business school.
Well that, and a parent that will give you money. Which is awesome, but you aren’t doing that without free seed money
Posted on 7/1/25 at 11:04 am to Mingo Was His NameO
Kids these days aren’t trying hard enough with their parents Mooney
Posted on 7/1/25 at 11:04 am to VooDude
quote:
Fixing the housing crisis is as simple as building a high speed rail network across the country.
Yeah cause that's so simple
Posted on 7/1/25 at 11:14 am to Chucktown_Badger
Posted on 7/1/25 at 11:38 am to BabyTac
quote:
Simple fix…people stop overpaying for things. People don’t buy, prices come down. Unfortunately most Americans are spoiled rotten and as selfish/entitled as they come.
Posted on 7/1/25 at 11:54 am to Eurocat
quote:
But is there really a housing crisis in Pittsburgh? In Milwaukee? Miami might have one, but what about Jacksonville? Birmingham Ala?
I'd say yes to a few of those. Prices may have not risen as fast as somewhere like Nashville but I can guarantee prices in Pittsburgh and Milwaukee and much higher than just 4 years ago.
Posted on 7/1/25 at 11:57 am to Eurocat
I haven't done any in-depth study of the cause of the price increases in housing. However, I think there are two things that are most likely:
1) the vast expansion of the money supply (Covid and the so-called "inflation reduction act") caused asset prices to skyrocket.
2) the importation of millions of illegal immigrants and the housing of them with inflated ("government") money added fuel to the fire to housing prices.
Western Europe is just as bad or even worse than here. It's like there was a plan put into action to undermine western societies not only financially but also politically (by incorporating a new voting bloc to enshrine power among leftists).
The worse part for Europe is that their migrants are mostly muslim and given the demographic trends, the native populations will shrink at a faster pace. Western Europe is going to hit a tipping point soon and the future is bleak for them.
1) the vast expansion of the money supply (Covid and the so-called "inflation reduction act") caused asset prices to skyrocket.
2) the importation of millions of illegal immigrants and the housing of them with inflated ("government") money added fuel to the fire to housing prices.
Western Europe is just as bad or even worse than here. It's like there was a plan put into action to undermine western societies not only financially but also politically (by incorporating a new voting bloc to enshrine power among leftists).
The worse part for Europe is that their migrants are mostly muslim and given the demographic trends, the native populations will shrink at a faster pace. Western Europe is going to hit a tipping point soon and the future is bleak for them.
Posted on 7/1/25 at 12:02 pm to BlackPot
quote:
Are these the only cities in America?
If you ask the people who write these articles, the only cities are LA, NYC, and Chicago. Places like Atlanta and Phoenix are provinces in flyover country.
Posted on 7/1/25 at 12:04 pm to johnnyalpha1
quote:
I haven't done any in-depth study of the cause of the price increases in housing. However, I think there are two things that are most likely:
The biggest winners of a low inflationary and cheap money market are people with assets. Rich people can leverage their assets for little to nothing to buy more assets, which has the rich get richer. Ie what we’ve seen for the last couple of decades
Posted on 7/1/25 at 12:10 pm to VooDude
quote:
Fixing the housing crisis is as simple as building a high speed rail network across the country. That BBB should be ripped apart with its only focus on high speed rail.
Posted on 7/1/25 at 12:14 pm to VooDude
quote:
high speed rail.
This is one of the goofiest obsessions some people have.
Posted on 7/1/25 at 12:38 pm to jizzle6609
Posted on 7/1/25 at 12:41 pm to GreatLakesTiger24
quote:
Yeah because those are terrible places for a career in 2025 Jobs/career opportunities are far more concentrated than they used to be
Only in few industries. Of course NY or Chicago for Wall Street (or the Mercantile Exchanger in Chiago) and Media. LA for films and TV.
But you have things all over. Heck man a surprising amount of insurance companies are in Hartford Connecticut. You can't work in the outerspace industry in NY, you can in Alabama and Texas and Florida, etc.
And that is only for people who want to climb up some ladder. Plenty of jobs in middle market towns for Arhcitects, Doctors, Orthodontists, IT guys who don't make stuff but keep the compters running (someone does this for Warren Buffet in Omaha), Lawyers, Chefs, and even blue collar but well paid jobs like Plumbers and Electiricians, all can make a nice upper middle class or even upper class (if they don't spend money on stupid stuff) in Kansas City or Baltimore. Aint no 4000 dollar studios there like in Manhattan.
Posted on 7/1/25 at 12:43 pm to Eurocat
quote:
Heck man a surprising amount of insurance companies are in Hartford Connecticut.
Hartford is not a cheap place to live
Posted on 7/1/25 at 1:12 pm to Mingo Was His NameO
I dunno, maybe my idea of cheap is warped but I found this four (four!) bedroom family home in West Hartford and it is bigger and much cheaper than just about anything in the areas of NY, Washington DC, Los Angeles, San Fran/Silicone alley. This would go for three times the price in Westchester in my opinion.
LINK
LINK
Posted on 7/1/25 at 1:25 pm to fareplay
quote:
2. Check job listings. Remote is dying and employees are being laid off.
Plenty of job openings for all those professions I already mentioned that are present in every city that make a very nice to great living.
quote:
Read Op
As has been discussed ad nauseam, the OP cherry picked the cities with the fastest price growth in the country to try and make a point. And as has already been noted, the correction is already well underway in some of those areas.
For example:
Austin's Housing Market is in Trouble
quote:
"The supply growth has softened prices, and the median listing price in March 2025 was $510,000, down 7.2 percent from March 2024. It has been a slow year, with 12 consecutive months of prices falling year-over-year. The correction has come for Austin sooner and more significantly than the national housing market."
Austin is still very overpriced and out of reach for many buyers, the article notes that. But the point is, the biggest boom areas are starting to correct. I think there was a long thread on the OT not long ago about what's happening in Austin.
This post was edited on 7/1/25 at 1:32 pm
Posted on 7/1/25 at 1:28 pm to VooDude
quote:
Fixing the housing crisis is as simple as building a high speed rail network across the country. That BBB should be ripped apart with its only focus on high speed rail. Massive economic development and you could live 2 hours outside of major cities (by car and not including traffic) and get to work in less than half an hour.
Most professionals could work from anywhere in the country with a pretty reasonable investment in high speed internet in rural areas. Instead we are trending back toward the office and packing as many people in as small an area as we can. Coupled with insane zoning ordinances and building codes and this is what you get.
Posted on 7/1/25 at 1:28 pm to Eurocat
quote:
I dunno, maybe my idea of cheap is warped but I found this four (four!) bedroom family home in West Hartford
West Hartford is like 20% higher COL than the national average
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