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Message
re: Housing Prices: The Whole Country Is Starting to Look Like California
Posted on 7/1/25 at 2:01 pm to CatfishJohn
Posted on 7/1/25 at 2:01 pm to CatfishJohn
quote:
I agree this is a huge piece of this, especially in major cities. There are massive sections of cities where the crime and homelessness are so bad, they are completely removed from the housing supply.
It’s truly a catch 22. There is an abundance of housing in inner city St Louis for example. It all has graffiti and boards over the windows and nobody wants to live there. I think if money were invested in keeping criminals in jail
And cleaning up the blight, everyone could spread out a little more and take the pressure off the housing crisis (at least temporarily). It’s an indirect approach, but there are entire swaths of any large city that are unlivable
1
Posted on 7/1/25 at 2:05 pm to Samso
I sold my 1,100 sq ft house in 2008 in Heights for about 220k. Obviously worth a whole lot more now.
Bought in The Woodlands in 2008 for 220k but now valued at 650kish. That seems like too much of an appreciation for 15 years and I think that’s happening everywhere.
Bought in The Woodlands in 2008 for 220k but now valued at 650kish. That seems like too much of an appreciation for 15 years and I think that’s happening everywhere.
Posted on 7/1/25 at 2:06 pm to TigerBaitOohHaHa
Amtrak dropped me off at grand central
Posted on 7/1/25 at 2:16 pm to fareplay
quote:. Congrats. A non-high speed train dropped you some where with an established mass transit network that was built over a hundred years ago before the city developed into the huge
Amtrak dropped me off at grand central
Metropolis it is now. 1) Tell me how you replicate this in Houston and MORE importantly 2) did your ability to commute this way bring down housing in NYC?
Posted on 7/1/25 at 2:21 pm to litenin
quote:
Bought in The Woodlands in 2008 for 220k but now valued at 650kish. That seems like too much of an appreciation for 15 years and I think that’s happening everywhere.
That's not happening everywhere. You're in the middle of one of the states that experienced some of the highest in-migration both before and during covid so it makes sense.
For reference, the Dow Jones was about 12,000 in 2008. It's now at 44,000...up 4x. Your house is up 3x.
ETA: Are we still talking about fricking high speed rail?
This post was edited on 7/1/25 at 2:22 pm
Posted on 7/1/25 at 2:38 pm to Mingo Was His NameO
Not coy. Other than time (I'm retired) the total of my investment is giving her room and board to live here for two years and paying insurance on the car my wife gave her in 2016. I know for a fact that when she moved out and went solo, she had a substantial six-figures investment savings account I had set up for her at Merrill Lynch / BOA as part of my accounts since I get free accounts there with no charges for anything (except maintenance fees). I lost track of it when she went full solo and moved her account out from under my umbrella.
She's been working as a financial analyst and has old money accounts she services, so is already pretty savvy, with lots of resources and business relationships, plus understands how to create leverage . At OU, the Dean of the Price College of Business has flown her in to speak before the graduating seniors and also had her come in to judge the finals competition regarding commercial real estate investment projects.
So, I have to assume she really knows what she's doing, and the two others in the business were best friends with her through high school and college and each come from economic status similar to my wife and myself , if not much more affluent. So they may have invested in their kids. I just don't know. I just know that my daughter gets her motivational drive directly from my wife who is a global sales whip for IBM's SAP Rise offering, along with IBM Cloud and IBM's Watson AI and regularly travels to Europe, Asia, South America, Mexico and India to support her team.
28 years together, and I can attest that being married to a business alpha female, while economically rewarding, certainly comes with challenges. I hope the guy she ends up marrying is up to the challenge
She's been working as a financial analyst and has old money accounts she services, so is already pretty savvy, with lots of resources and business relationships, plus understands how to create leverage . At OU, the Dean of the Price College of Business has flown her in to speak before the graduating seniors and also had her come in to judge the finals competition regarding commercial real estate investment projects.
So, I have to assume she really knows what she's doing, and the two others in the business were best friends with her through high school and college and each come from economic status similar to my wife and myself , if not much more affluent. So they may have invested in their kids. I just don't know. I just know that my daughter gets her motivational drive directly from my wife who is a global sales whip for IBM's SAP Rise offering, along with IBM Cloud and IBM's Watson AI and regularly travels to Europe, Asia, South America, Mexico and India to support her team.
28 years together, and I can attest that being married to a business alpha female, while economically rewarding, certainly comes with challenges. I hope the guy she ends up marrying is up to the challenge
Posted on 7/1/25 at 2:57 pm to hikingfan
It's blackrock, man. The noose around our necks.
Posted on 7/1/25 at 3:46 pm to AwgustaDawg
quote:
Black folks are largely not criminals
Posted on 7/1/25 at 4:48 pm to hikingfan
Been seeing this for a while. Housing prices are outpacing wage growth in almost all parts of the US.
Not enough housing supply.
Not enough housing supply.
Posted on 7/1/25 at 4:52 pm to hikingfan
Apparently the dollar value is dropping so hard assets such as homes gold commodities etc are going up. Just what I’ve heard I could be wrong
Posted on 7/1/25 at 5:19 pm to mike4lsu
quote:
Fear now......help is on the way. President Donald J. Trump is an economic genius who build a billion dollar business from scratch and he is just getting started. His Big Beautiful Bill (BBB), the tax cuts and the combination of tariffs will fix all the problems.
1. Tariffs will offset revenue lost from the tax cuts due to the BBB.
2. BBB will throw out all the illegals from medicare, medicade and social security and slash waste fraud and abuse,
3. The extra funding for ICE in BBB will deport all 11 million illegals and crime will drop 99%.
4. With crime dropping, so will drug abuse and with therapy all drug abusers will become productive citizens.
5. Foreign investments will rush into the US through firehoses (like evidence from the 2020 election fraud ) because it will be cheaper to make at home than import.
6. Not only will we make everything at home but our exports to the world will go up 5 fold.
7. BBB will create millions of high paying high tech manufacturing jobs.
8. Wages will rise, productivity will increase because of AI and robotics and quality of home grown products will improve.
9. With increased US productivity GDP growth will be skyrocket while keeping inflation in check.
10. With economic growth will come massive tax revenues with which we will be able to modernize our military and obliterate debt (like the Iranian nuclear program).
11. The new fed chair (appointed next year) will lower interest rate to less that 1% and housing will become affordable again.
Posted on 7/1/25 at 5:31 pm to hikingfan
Not a single mention of county appraisal boards jacking everyone's property value up the max 10% every year to maximize revenue. They're part of the reason prices are so high.
Posted on 7/1/25 at 7:15 pm to Chucktown_Badger
quote:So now you are admitting that Blackrock does buy single family homes but it's ok because they're renting them out?
Rentals are still increasing the housing supply, regardless who owns them.
Do you understand my entire point is when major investment firms do this it reduces the amount of homes for sale which then inflates the market of the homes that are for sale?
quote:Lol what is your point? First you said black rock isn't buying homes and renting them, now you're admitting that they do but now having less homes for sale and more rentals is actually good for the homes for sale market?
And the rental market is a market as well. It adjusts, more supply puts downward pressure on prices. Econ 101 stuff.
I honestly can't even track what point your trying to make
Posted on 7/1/25 at 7:25 pm to hikingfan
Louisiana will never be California
Posted on 7/1/25 at 8:38 pm to VooDude
quote:
NY for a few years. It’s shite, but if Japan can do it, so can we? Might have to kill the unions first.
Yeah, all the US has to do is implement things that tiny, homogenous nations do.
Posted on 7/1/25 at 9:36 pm to mike4lsu
quote:
Fear now......help is on the way.
President Donald J. Trump is an economic genius who build a billion dollar business from scratch and he is just getting started.
His Big Beautiful Bill (BBB), the tax cuts and the combination of tariffs will fix all the problems.
1. Tariffs will offset revenue lost from the tax cuts due to the BBB.
2. BBB will throw out all the illegals from medicare, medicade and social security and slash waste fraud and abuse,
3. The extra funding for ICE in BBB will deport all 11 million illegals and crime will drop 99%.
4. With crime dropping, so will drug abuse and with therapy all drug abusers will become productive citizens.
5. Foreign investments will rush into the US through firehoses (like evidence from the 2020 election fraud ) because it will be cheaper to make at home than import.
6. Not only will we make everything at home but our exports to the world will go up 5 fold.
7. BBB will create millions of high paying high tech manufacturing jobs.
8. Wages will rise, productivity will increase because of AI and robotics and quality of home grown products will improve.
9. With increased US productivity GDP growth will be skyrocket while keeping inflation in check.
10. With economic growth will come massive tax revenues with which we will be able to modernize our military and obliterate debt (like the Iranian nuclear program).
11. The new fed chair (appointed next year) will lower interest rate to less that 1% and housing will become affordable again.
All we need is the BBB to pass and trust the President on tariffs and the trade deals he negotiates.
LOL, sure it will.
Posted on 7/1/25 at 10:38 pm to Chucktown_Badger
quote:
I've tried to make this point multiple times but it appears people are being intentionally obtuse because they have entitled, unrealistic expectations or just strongly desire being a victim.
Nothing you've said so far refutes the fact housing costs have outpaced wages substantially. I don't have a good solution other than dealing with it and climbing into the top percentage of earners.
But your hand waving of the problem is pretty bullshite and you come across as out of touch.
Posted on 7/1/25 at 10:44 pm to DownshiftAndFloorIt
quote:
We dont have a housing crisis. We have a crime crisis. The problem is vast swaths of urban development are basically uninhabitable if you care about being safe. Fix that and the "housing crisis" is resolved
Definitely part of it. In most major city footprints, there is no real opportunity for regular people to go live in a modest home in an unremarkable but quiet, decent community. That used to exist.
Posted on 7/1/25 at 10:46 pm to VooDude
quote:
but if Japan can do it {public transportation}, so can we?
I don't wanna get banned but, our 'urban' demographics are just a littttle bit different than Japan....
This post was edited on 7/1/25 at 10:48 pm
Posted on 7/2/25 at 12:30 am to LemmyLives
quote:
You realize the distance I drive to work every day is twice the length of Manhattan? About the same distance from Tokyo to Yokohama, and there's about one train an hour on that particular route. Then, when I get into Houston, what do I do then? Uber? It's like the fantasy of the high speed train from Dallas to Houston (we already have one, it's called Southwest Airlines). What do you do after you get to either endpoint? Build more trains, you say! Well, the water table in Southeast Texas is pretty near the surface, so it will be very hard and expensive to do. Want to do overground? Ok, now we just have to use eminent domain on hundreds of thousands of properties. Even without the groundwater problem, I think MARTA (Atlanta) estimated that it would be a billion dollars a mile to expand that shitty service. Pluck someone from Paris and dump them in Shreveport, and tell them to drive to Fort Worth, Waco, or El Paso. They can't believe the scale of how far apart everything is in the US. The scale doesn't work. Add in train routes that will be gerrymandered to include towns that shouldn't be included (which they've already done with the CA boondoggle), which limits max speeds of the trains, yada yada. A train from Sheffield to Manchester, which might be an equivalent commute (via train) takes an hour and costs between $11 and $45 each way. This has been discussed ad nauseum for years. Solving mass transit with more money @ Reason
One hell of an analysis there…
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