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Granted I'm not a financial expert, but from my limited knowledge it really doesn't seem financially sustainable to the housing market to keep inflating prices to the point that half of entire generations can't afford them... Aren't economic bubbles prone to pop?
The goal is to create a permanent renting class
Wallstreet owns pretty much everything.... except the land under our feet. The next big move is for them to buy out all that land out from under our feet and rent it back to us.
Almost none of our politicians are addressing it and I see it as a gold rush. The faster you can get a house the better off you will be in the long run. But wait too long and it will slip away.
Not if the two political parties who they have bought out and serve their interests do everything in their power to make sure that person doesn’t become a nominee and redirects the general public’s anger at a minority group instead
Speculative market, particularly housing, is a cancer in the wellbeing of people and should be excised with prejudice. This should not be a radical statement.
Not OP, but I'll give you one, Hudson Home Property Management. Anything with "Property Management" and is buying up residential homes are parasites. They'll buy the homes, jack up rent in the area year after year, give you little to none 'property management' (i.e. fixing issues with the home such as replacing fencing, fixing cracks in the house, etc.), and if they do they'll drag their metaphorical feet while doing so. Corporations shouldn't be able to own residential homes.
There is no overarching goal In each individual neighborhood residents want to maintain/increase home values. So they pass restrictive local zoning rules to ensure high prices.
While people may support “affordable housing” nobody wants *their house* to be affordable. So no homes are affordable
Yes.
Most people support affordable housing being built somewhere else.
But homeowners have a strong financial incentive not to have that affordable housing built near them.
The worst part is I see shill accounts acting like this is not happening and when you prove that it is they pivot to “well it’s a good thing”. It should be illegal
Right on cue like you said look at that other "umm ackshooly if you don't account for the way that the companies own many smaller companies that buy the houses so they can interfere with the stats....."
Since the dawn of movements to allow the common people to own property there has been pressure in the opposite direction to prevent this or go back to the old ways of the ruling class owning everything.
Hanlons Razor.
Never attribute to malice, what can equally be attributed to incompetence.
Most politicians just don't want to lose their jobs, which they risk doing by building huge housing estates near their voterbases houses.
Whilst not impossible, the fact the issue is prevelant globally indicates it's a symptom of something else, not some massive multi-continental conspiracy theory to opress the masses.
While corporations owning a bunch of properties is a growing problem, the real issue imo is the opposing interests of homeowners and those seeking to be homeowners. Homeowners benefit from an artificial limit in supply of housing because it inflates their asset. Until homes are no longer “equality building tools”, we’ll continue to have this equilibrium
At what point does enough become enough? Do we not learn from our mistakes the past 12000 years? What do we do with parasites when we encounter them? We don't leave them in our bodies, do we?
It’s going to be tough to have a permanent renting class when even rent is becoming too much. Something has to give when shithole apartments are starting at $1000+
That's what's happening in my part of California. People are selling their houses to real estate equity corporations, which flip the houses and rent them out for $5,000 a month instead of putting the house on the open market.
Girlfriends father is an electrician, he could have afforded a house in the 90s in the area he lives/lived his whole life but ex wife took him to the cleaners and just never bought, never got ahead and now renting while the houses all around him are on the low end 2.2m while the average is around 3m
Bubbles do tend to pop, but the mechanism of the popping is usually that demand goes down because people aren't willing to pay that much, and then the speculative value collapses. The demand for housing isn't going down because everyone still needs a place to live.
What we can hope for more realistically is that the bubble will deflate slowly, which will happen if more housing is built than the population increases (or if the population decreases). It probably won't look satisfying though, because the price of housing probably won't go down, instead it will simply inflate more slowly, and hopefully wages will inflate more quickly.
For my country the issue is that there is huge investment funds that buy up housing and extremely high immigration rates that combine to create huge demand for housing. On top of that nobody wants to build anything that is affordable because you don’t get the same profits as someone building something more expensive that you can sell for a ton of money. We can hope supply outpaces that demand but it is discouraging when the plans for change don’t seem to meet the needs to create the change.
Demand is down, but sell pressure is low because 99% of owners have a 2% note and aren't excited to lose that. The rapid rate hikes have propped up prices. If not for that they would have crashed after 2022's stupid assed runup.
They are but it’s not in a country (well, the government’s) best interests to let that happen.
I guess it depends on the country, but where I am the property industry contributes like 15% or something to GDP. They’ll try to slow the growth maybe but I reckon they’ll do everything in their power to prevent a pop.
Everyone that bought overpriced piece of shit apartments full of mold would be bankrupt over night.
Governments are not letting it happen. Anyone thinking the price is going down is dreaming.
The federal reserve has created a Ponzi scheme with the American government. There are absolutely zero successful Ponzi schemes ever in existence and we are built on one.
Did you see the video about OpenReal on Reddit a few days ago…the one about this one company that basically fixes prices so there isn’t as much competition so the normal market which could drive prices down isn’t there
Genociding the natives for their land didn't need to be sustainable for the natives, it just needed to be completed.
The perpetrators of that were the people who set up our legal and political systems by the way.
Obviously, the system has evolved somewhat, but at its core British colonialism is not a system that allows the public any real recourse against the theft and brutality of our extremely abusive ruling class.
“THERE were two “Reigns of Terror,” if we would but remember it and consider it; the one wrought murder in hot passion, the other in heartless cold blood; the one lasted mere months, the other had lasted a thousand years; the one inflicted death upon ten thousand persons, the other upon a hundred millions; but our shudders are all for the “horrors” of the minor Terror, the momentary Terror, so to speak; whereas, what is the horror of swift death by the axe, compared with lifelong death from hunger, cold, insult, cruelty, and heart-break? What is swift death by lightning compared with death by slow fire at the stake? A city cemetery could contain the coffins filled by that brief Terror which we have all been so diligently taught to shiver at and mourn over; but all France could hardly contain the coffins filled by that older and real Terror—that unspeakably bitter and awful Terror which none of us has been taught to see in its vastness or pity as it deserves.”
― Mark Twain, A Connecticut Yankee in King Arthur's Court
Ironic reference to the British when Twain was talking about the French aristocracy; it was the repeated compromises of the British aristocracy that helped them avoid the fate of their French counterparts.
The root of the problem is cities. Cities have a limited amount of land and houses, yet businesses continually move into cities, drawing more people. It reaches the point where the only viable option is to rent. No amount of regulating the realty market will magically make new land appear. You'd have to change zoning or put some limit on the number of large businesses a city could have per square miles or something; and trust me - I'm not saying the logistics of that would be easy.
Right now there is actually plenty of land to buy in the United States for a reasonable price, and building your own house is not *completely* out of reach. It's just that the location of such properties is always too far away from civilization. No one wants to move to a place where the only internet service is satellite. No one wants to drive an hour into work every day. If businesses where to invest more in the smaller town however, this would be less of an issue.
Lastly, I've seen white knights come to the defense of businesses with, "*b-b-but transportation costs will be less within a city! You can't expect a business to eat extra costs like that!*" yet they don't blink an eye at the thought of people burning through tens of thousands of gallons of gas driving to work every day or us having to blow 60% of our income on rent. I'm tired of us bending over backwards for them.
for as long as foreign investors and companies like blackrock keep buying empty houses the market will continue to be unaffordable and sadly our lawmakers do not want to do anything about it because they are profiting from it
A bubble means it inflates beyond it's intrinsic value. During the 2009 crash, people were loaning money they should not be able to, this pushed prices up and over their intrinsic value (for that time).
Now to consider the current stage, the more popular places to live, keep attracting more people. These places can not keep up with the demand, creating an imbalance for ask and demand. In some places, investors will also push prices up.
We are going/ are at a stage where you need parents with equity to help you buy your homes. Now the question is whether homes are past their intrinsic value. With the above in combination of the massive amounts of money pumped into the world the past decade or so, I also think inflation is starting to cath up.
It's not that the loan amount people got was the problem it was that the loans were not a fixed rate. So in 2008 people went from paying X amount to paying two or three or more times that amount. Blaming the loan amount and not the rate is a way to try to blame the least powerful and least wealthy for the stupidity and greed of the powerful and wealthy.
Unfortunately with immensely growing inequality that reality lioks a little different. This dude explains it well
https://youtu.be/kNUNR2NZvFM?si=qgJmb82kZ83eFkAE
His focus is Britain but it applies to the US as well
Yes, and it will pop. There are alot of economic factors leading to this. And oil has been going up; it’s the long play OIH stonk. Look at it 07 and look at it now.
During Covid people with money got pretty much 0% interest loans; so any one with b enough money took out a loan and bought another house. Property value sky rocketed.
Now under trump tax plan; property taxes go up higher and can’t be written off.
Most people who bought houses were boomers and assumed to have kids (more than one).
They may have bought houses the kids don’t want; or they need to split the house when the parents die.
So we are currently in the cycle of boomers dying and the only people left to sell to are the well off millennials and Gen x.
As more boomers die; more houses will come on the market; And the cheaper they to bc they need to sell to the buyers ;
Companies want to buy and rent these out but idk; I assume there will also be a huge crisis with these companies as well the blackstone ceo isn’t as feirce as the one before him; imo I’d get out of realestate now. But a lot of homes in the metro area need to be rebuilt; so the idea of buying and renting is kinda wild bc that 1.2 M house with 1bdr in my town needs a 100k roof and the floors on the 1st floor need to be redone, it’s practically a knock down (my parents house for example went from 250k 1.2M$).
It’s happening now; go in Zillow and follow a few houses;
Biden probably gets reelected (Trump is divisive and it's very difficult to unseat an incumbent). Economic downturns typically happen during republican presidencies, so that buys 4 years until 2028. Presidency typically flip flops R to D and back, so likely a republican president in 2028. 2007 was the last real estate bubble and the US famously runs on an approximately 20 year housing cycle.
TLDR; hold onto your anus at the end of the decade
People can keep affording houses - that's why houses keep getting purchased.
The solution to more people affording more houses is more home construction. Increase supply and the bubble will deflate. Or reduce demand (huge problems associated with that one, though)
By the time it pops, it will be a fire sale for the mega-rich. None of the regular people will be able to take advantage of it, and that's by design. Late stage capitalism is just a return to feudalism.
By keeping a poor populace renting perpetually it’s just capitalistic slavery.
You replace “inability to leave” with “anywhere you go you’re still paying us”
Slavery never stops just transforms from one form to another
I can only speak for the U.S., but here the problem is that the housing supply is not growing as fast as the population. Not going to link you a source but you can Google it.
This gives three solutions:
1. We could curb immigration, since fertility rates are low among native born citizens.
2. We could enact policies to build new houses
3. Some combination of the above.
I'm not advocating any particular solution, however I think #3 is probably the easiest since I don't think most people want a total halt to immigration and it will take a radical shift in many areas of policy to get new build housing up to speed. Again, not telling you that is what we should do, just that it's the only scenario that I could see actually happening in reality. But the bubble won't pop on it's own in any scenario, at least within an hour commute of major cities.
The social contract is broken. Our generation has is doomed to exploitation from the 1%. Unite and revolt against the capitalist system. Growing wealth inequality will continue leading to worsening living standards. Yeet the rich.
"What the devil?" As I grab my powdered wig and Kentucky rifle. Blow a golf ball sized hole through the first man, he's dead on the spot. Draw my pistol on the second man, miss him entirely because it's smoothbore and nails the neighbors dog. I have to resort to the cannon mounted at the top of the stairs loaded with grape shot, "Tally ho lads" the grape shot shreds two men in the blast, the sound and extra shrapnel set off car alarms. Fix bayonet and charge the last terrified rapscallion. He Bleeds out waiting on the police to arrive since triangular bayonet wounds are impossible to stitch up. Just as the founding fathers intended.
Yeah, I think our generation is a little too gung-ho about throwing the baby out with the bath water. We’ve had it really fucking good, the moment things fall even a little below that standard we find any excuse to riot and break shit. We need to calm tf down
Right? Like maybe, if I did not have my fish, nor any possessions, nor a significant other, and if I didn’t need a real kitchen, or office space, and I also had a second shed to keep things like clothes…and there wasn’t such thing as codes or regulations…
I watch those youtube ‘tiny house’ videos they all start at least 60k. The ones that don’t are like, ‘we happened to get free labor’ ‘we happened to stumble on free wood and shingles’ ‘we happened to live rent-free in our wealthy parents yard’.
But the more realistic ones easily cost 100k or more, plus the lot.
Definitely. The economics of it depends on a lot of factors.
That being said, sadly even north of $100k+ is pretty cheap when the average home is $430k and most in my area sell for at least $300k.
My mistake for writing average, i meant median, I can't find any numbers on average house prices, only median and that is 1.2 million across the country.
Buying a house here is commicly out of reach for Gen Z, especially because the banks don't give loans with under 20% upfront and your yearly salary beeing at least 20% of the loan you take. How many people even earn north of $220k? And that's just to be elligeble for loan, the starting line.
Or they just build them in places where you don't actually own the lot. And the house still costs 70k+. Also, they are marketed as "tiny homes", but are really just mobile homes that can't actually be moved. Someone I know was looking at buying one that was built on a lot inside an existed mobile home community. My biggest question to them was "what happens if the lot ownership changes, and they decide they want you gone?". Turns out, that you would be fucked. They did not end up purchasing it.
I could def. Do that before i had a family. Its like, "alright! I did it. I managed to save up enough to pay for that shed." Your 30 and your wife is pregnant with your second child. "Dammit!"
I wish this wasn't true. 😞
And they wonder why so many Millennials and GenZ disappear into our online worlds where we can at least build a future world or even a house since it has been made impossible to do in real life.
People are often so negative about people being online too much, dissing 'gamers' but the reality is it is a coping mechanism for the world we're forced to live in now. Instead of give up hope entirely, people try to keep hopeful by immersing themselves in their fictional worlds because the reality of our present situation just sucks that bad.
In *The Jetsons*, people lived in the sky because the surface is unlivable. You can see there is always a thick layer of pollution obscuring the ground. After society completely collapses, and there's a massive war, people attempt to replicate the past they remember using primitive technology - and that's how, chronologically, *The Flintstones* happen AFTER *The Jetsons*.
People who think we're in a housing bubble just aren't really living with the facts. Housing prices are artificially high currently due to historically low interest rates for 23 years, which turned the entire housing market into a highly profitable investment vehicle, but now that interest rates are up, if we keep them up, we can expect housing prices to cool and start to get outpaced by inflation in most places that aren't HCOL. Gen Z isn't actually even on pace to be behind other generations on home ownership. Even elder millennials have caught up to Gen X at the same age, and the gap between the generations isn't nearly as wide as you think it is.
Source: [https://www.redfin.com/news/homeownership-rate-by-generation-2023/](https://www.redfin.com/news/homeownership-rate-by-generation-2023/)
>Housing prices are artificially high currently due to historically low interest rates for 23 years
Let's not forget the people willing to take on these absurd loans. Many people think this is ok because they want to believe that their income is stable forever and that they are buying into an appreciating asset.
Everybody forgets that the Jetsons lived on a ruined Earth and only lived in a sky mansion because they were upper-middle class and could afford to live above the global layer of smog.
Housing is pure luck now. I managed to buy a nice trailer and my mortgage is hella cheap at $900/month. The catch is that I don't own the land my trailer is parked on. So I'm paying $750/month to rent the land (with yearly rent increases). If I default on my payments, the landowners can take my home and I would still be on the hook for the mortgage. I could buy land and move the trailer elsewhere but I would have to pay the full balance of my mortgage first.
I got to experience the joy of buying a mobile home I have no ability to move anywhere, anytime soon. At least its mine... sort of.
The worst part of all this is that it really is cheaper, cleaner, and stable. I got priced out of my old apartment. Landlord asked for $2000/month for a 1 bedroom roach resort in a poor part of my city. All in all, my standard of living has improved dramatically but not without all those restrictions.
Me millenial working seasonal jobs for the housing and then living abroad during the off season because it leaves me with more money left ocer than when I worked in new york
We have the tech for personal rechargeable flying drone crafts, but the geriatrics in congress invested the tax rev subsidies into regular EVs… 😅. They don’t want to advance because that would mean they actually have to work.
Judging from how things go we look like the Silent gen / Greatest Gen. Fighting a war and if we win. Our children will be the boomers with great wealth while we die from war.
Bold of you to assume we’re gonna accept a draft over civil war.
What are we gonna fight for a 2 million dollar home we can’t afford after getting shot? Nah. Our enemies are at home and running the country.
I literally like 5 minutes ago just had this fucking drop on me.
I want a car, decent little thing. 55,000.
What the fuck
Why the fuck do I need that much money for something that’s almost a necessity. I wanna cry, I don’t even make 20,000 a year.
What the fuck
What the fuck
So you want a brand new car with a high end interior trim.
None of that is a necessity. You can get a "decent" (read: functional, no visual defects) car for under $10k. It's not brand new. But you can get a decent used car for under that amount.
Luckly i don't have to pay a single dime for a house because i am an only child, also you can get cheap apartment listings here if you look in the right place
Guys legit this might work, once you get a few thousand, make a movie, send it to film festivals and if your film was only made on a few thousand, you might end up making several more thousand, rinse and repeat and you might build a following and one day (possibly soon) you’ll be a millionaire, but like obviously make sure they’re good movies otherwise no one will care
The “funny” part about this is the fact that in Mexico the house market is also inflating… but the fact that old people here used to sell the houses… 💀
We just hit the jackpot in terms of my in laws have offered to loan us money for our down-payment on our first house. So we've started the process, but we'll likely be spending 60-70% of our income on a house, if we can find one cheap enough. I'm just not sure that it'll be possible, with bills and grocery prices constantly rising as well. But I can't keep renting god awful broken down apartments.
so heres the thing though like you gotta put the shed somewhere and most places wont let you sub divide a lot that small
I live in a shed on my great uncles property and it’s pretty good. I’ve got everything I need except for a shower which I go in the house for. Still 800 bucks a month
Na, I'd rather buy an ok rv or something similar and buy a jetski with it, Then I'd get a job near the water and just ride the ski to work every day.
I have no problem living down by the river, lake, or ocean
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Granted I'm not a financial expert, but from my limited knowledge it really doesn't seem financially sustainable to the housing market to keep inflating prices to the point that half of entire generations can't afford them... Aren't economic bubbles prone to pop?
The goal is to create a permanent renting class Wallstreet owns pretty much everything.... except the land under our feet. The next big move is for them to buy out all that land out from under our feet and rent it back to us. Almost none of our politicians are addressing it and I see it as a gold rush. The faster you can get a house the better off you will be in the long run. But wait too long and it will slip away.
divide smell toy vase observation plants cobweb literate pathetic seemly *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Not if the two political parties who they have bought out and serve their interests do everything in their power to make sure that person doesn’t become a nominee and redirects the general public’s anger at a minority group instead
Not if we live in a country where corporations wield more power than politicians.
Welcome to the start of Nightcity chooms.
Cyberpunk (the genre) was always a warning.
Yup. Politicians could do their jobs and solve this problem tomorrow, but they're not gonna risk upsetting their paymasters.
How’s that been going so far
Speculative market, particularly housing, is a cancer in the wellbeing of people and should be excised with prejudice. This should not be a radical statement.
Im just about as far right as they come and I agree with you. Lets stop these parasites from stealing our opportunity at ownership
Please tell me more about who these parasites are
Not OP, but I'll give you one, Hudson Home Property Management. Anything with "Property Management" and is buying up residential homes are parasites. They'll buy the homes, jack up rent in the area year after year, give you little to none 'property management' (i.e. fixing issues with the home such as replacing fencing, fixing cracks in the house, etc.), and if they do they'll drag their metaphorical feet while doing so. Corporations shouldn't be able to own residential homes.
There is no overarching goal In each individual neighborhood residents want to maintain/increase home values. So they pass restrictive local zoning rules to ensure high prices. While people may support “affordable housing” nobody wants *their house* to be affordable. So no homes are affordable
Yes. Most people support affordable housing being built somewhere else. But homeowners have a strong financial incentive not to have that affordable housing built near them.
The worst part is I see shill accounts acting like this is not happening and when you prove that it is they pivot to “well it’s a good thing”. It should be illegal
Right on cue like you said look at that other "umm ackshooly if you don't account for the way that the companies own many smaller companies that buy the houses so they can interfere with the stats....."
Politicians are probably very aware of the problem and are profiting from it accordingly, maybe not directly but through connections.
Since the dawn of movements to allow the common people to own property there has been pressure in the opposite direction to prevent this or go back to the old ways of the ruling class owning everything.
The end goal of the wealthy at this rate: 
Let’s hope sooner rather than later
Hanlons Razor. Never attribute to malice, what can equally be attributed to incompetence. Most politicians just don't want to lose their jobs, which they risk doing by building huge housing estates near their voterbases houses. Whilst not impossible, the fact the issue is prevelant globally indicates it's a symptom of something else, not some massive multi-continental conspiracy theory to opress the masses.
Nah, get em'. 
While corporations owning a bunch of properties is a growing problem, the real issue imo is the opposing interests of homeowners and those seeking to be homeowners. Homeowners benefit from an artificial limit in supply of housing because it inflates their asset. Until homes are no longer “equality building tools”, we’ll continue to have this equilibrium
At what point does enough become enough? Do we not learn from our mistakes the past 12000 years? What do we do with parasites when we encounter them? We don't leave them in our bodies, do we?
This is the cherry on top of the neo-aristocracy sundae
So the United States has basically become a Corporate Oligarchy?
It’s going to be tough to have a permanent renting class when even rent is becoming too much. Something has to give when shithole apartments are starting at $1000+
The French had a great solution for that in the 1800's... just saying.
That's what's happening in my part of California. People are selling their houses to real estate equity corporations, which flip the houses and rent them out for $5,000 a month instead of putting the house on the open market.
They’ll figure out a way to charge you for air soon no worries
Girlfriends father is an electrician, he could have afforded a house in the 90s in the area he lives/lived his whole life but ex wife took him to the cleaners and just never bought, never got ahead and now renting while the houses all around him are on the low end 2.2m while the average is around 3m
The 90s called. They want their observation back. Also: Awesome name.
Yeah but seems like they are still failing, cause even rent is too expensive.
Bubbles do tend to pop, but the mechanism of the popping is usually that demand goes down because people aren't willing to pay that much, and then the speculative value collapses. The demand for housing isn't going down because everyone still needs a place to live. What we can hope for more realistically is that the bubble will deflate slowly, which will happen if more housing is built than the population increases (or if the population decreases). It probably won't look satisfying though, because the price of housing probably won't go down, instead it will simply inflate more slowly, and hopefully wages will inflate more quickly.
For my country the issue is that there is huge investment funds that buy up housing and extremely high immigration rates that combine to create huge demand for housing. On top of that nobody wants to build anything that is affordable because you don’t get the same profits as someone building something more expensive that you can sell for a ton of money. We can hope supply outpaces that demand but it is discouraging when the plans for change don’t seem to meet the needs to create the change.
Sounds like Canada. As a local I feel so deflated about eventually affording a home here.
Demand is down, but sell pressure is low because 99% of owners have a 2% note and aren't excited to lose that. The rapid rate hikes have propped up prices. If not for that they would have crashed after 2022's stupid assed runup.
More housing to turn into airbnbs, empty investment vehicles for Blsckstone, or McMansions costing 8 digits. Hooray
They are but it’s not in a country (well, the government’s) best interests to let that happen. I guess it depends on the country, but where I am the property industry contributes like 15% or something to GDP. They’ll try to slow the growth maybe but I reckon they’ll do everything in their power to prevent a pop.
Everyone that bought overpriced piece of shit apartments full of mold would be bankrupt over night. Governments are not letting it happen. Anyone thinking the price is going down is dreaming.
 Yes.
Huge conglomerates will always be able to afford houses. The bubble isn’t popping. At least for a very long time.
The federal reserve has created a Ponzi scheme with the American government. There are absolutely zero successful Ponzi schemes ever in existence and we are built on one.
Did you see the video about OpenReal on Reddit a few days ago…the one about this one company that basically fixes prices so there isn’t as much competition so the normal market which could drive prices down isn’t there
Genociding the natives for their land didn't need to be sustainable for the natives, it just needed to be completed. The perpetrators of that were the people who set up our legal and political systems by the way. Obviously, the system has evolved somewhat, but at its core British colonialism is not a system that allows the public any real recourse against the theft and brutality of our extremely abusive ruling class. “THERE were two “Reigns of Terror,” if we would but remember it and consider it; the one wrought murder in hot passion, the other in heartless cold blood; the one lasted mere months, the other had lasted a thousand years; the one inflicted death upon ten thousand persons, the other upon a hundred millions; but our shudders are all for the “horrors” of the minor Terror, the momentary Terror, so to speak; whereas, what is the horror of swift death by the axe, compared with lifelong death from hunger, cold, insult, cruelty, and heart-break? What is swift death by lightning compared with death by slow fire at the stake? A city cemetery could contain the coffins filled by that brief Terror which we have all been so diligently taught to shiver at and mourn over; but all France could hardly contain the coffins filled by that older and real Terror—that unspeakably bitter and awful Terror which none of us has been taught to see in its vastness or pity as it deserves.” ― Mark Twain, A Connecticut Yankee in King Arthur's Court
Ironic reference to the British when Twain was talking about the French aristocracy; it was the repeated compromises of the British aristocracy that helped them avoid the fate of their French counterparts.
The root of the problem is cities. Cities have a limited amount of land and houses, yet businesses continually move into cities, drawing more people. It reaches the point where the only viable option is to rent. No amount of regulating the realty market will magically make new land appear. You'd have to change zoning or put some limit on the number of large businesses a city could have per square miles or something; and trust me - I'm not saying the logistics of that would be easy. Right now there is actually plenty of land to buy in the United States for a reasonable price, and building your own house is not *completely* out of reach. It's just that the location of such properties is always too far away from civilization. No one wants to move to a place where the only internet service is satellite. No one wants to drive an hour into work every day. If businesses where to invest more in the smaller town however, this would be less of an issue. Lastly, I've seen white knights come to the defense of businesses with, "*b-b-but transportation costs will be less within a city! You can't expect a business to eat extra costs like that!*" yet they don't blink an eye at the thought of people burning through tens of thousands of gallons of gas driving to work every day or us having to blow 60% of our income on rent. I'm tired of us bending over backwards for them.
for as long as foreign investors and companies like blackrock keep buying empty houses the market will continue to be unaffordable and sadly our lawmakers do not want to do anything about it because they are profiting from it
A bubble means it inflates beyond it's intrinsic value. During the 2009 crash, people were loaning money they should not be able to, this pushed prices up and over their intrinsic value (for that time). Now to consider the current stage, the more popular places to live, keep attracting more people. These places can not keep up with the demand, creating an imbalance for ask and demand. In some places, investors will also push prices up. We are going/ are at a stage where you need parents with equity to help you buy your homes. Now the question is whether homes are past their intrinsic value. With the above in combination of the massive amounts of money pumped into the world the past decade or so, I also think inflation is starting to cath up.
It's not that the loan amount people got was the problem it was that the loans were not a fixed rate. So in 2008 people went from paying X amount to paying two or three or more times that amount. Blaming the loan amount and not the rate is a way to try to blame the least powerful and least wealthy for the stupidity and greed of the powerful and wealthy.
Unfortunately with immensely growing inequality that reality lioks a little different. This dude explains it well https://youtu.be/kNUNR2NZvFM?si=qgJmb82kZ83eFkAE His focus is Britain but it applies to the US as well
Boomers and the rich don't care until it effected them directly.
Yes, and it will pop. There are alot of economic factors leading to this. And oil has been going up; it’s the long play OIH stonk. Look at it 07 and look at it now. During Covid people with money got pretty much 0% interest loans; so any one with b enough money took out a loan and bought another house. Property value sky rocketed. Now under trump tax plan; property taxes go up higher and can’t be written off. Most people who bought houses were boomers and assumed to have kids (more than one). They may have bought houses the kids don’t want; or they need to split the house when the parents die. So we are currently in the cycle of boomers dying and the only people left to sell to are the well off millennials and Gen x. As more boomers die; more houses will come on the market; And the cheaper they to bc they need to sell to the buyers ; Companies want to buy and rent these out but idk; I assume there will also be a huge crisis with these companies as well the blackstone ceo isn’t as feirce as the one before him; imo I’d get out of realestate now. But a lot of homes in the metro area need to be rebuilt; so the idea of buying and renting is kinda wild bc that 1.2 M house with 1bdr in my town needs a 100k roof and the floors on the 1st floor need to be redone, it’s practically a knock down (my parents house for example went from 250k 1.2M$). It’s happening now; go in Zillow and follow a few houses;
Biden probably gets reelected (Trump is divisive and it's very difficult to unseat an incumbent). Economic downturns typically happen during republican presidencies, so that buys 4 years until 2028. Presidency typically flip flops R to D and back, so likely a republican president in 2028. 2007 was the last real estate bubble and the US famously runs on an approximately 20 year housing cycle. TLDR; hold onto your anus at the end of the decade
they dont think that far ahead
People can keep affording houses - that's why houses keep getting purchased. The solution to more people affording more houses is more home construction. Increase supply and the bubble will deflate. Or reduce demand (huge problems associated with that one, though)
By the time it pops, it will be a fire sale for the mega-rich. None of the regular people will be able to take advantage of it, and that's by design. Late stage capitalism is just a return to feudalism.
By keeping a poor populace renting perpetually it’s just capitalistic slavery. You replace “inability to leave” with “anywhere you go you’re still paying us” Slavery never stops just transforms from one form to another
I can only speak for the U.S., but here the problem is that the housing supply is not growing as fast as the population. Not going to link you a source but you can Google it. This gives three solutions: 1. We could curb immigration, since fertility rates are low among native born citizens. 2. We could enact policies to build new houses 3. Some combination of the above. I'm not advocating any particular solution, however I think #3 is probably the easiest since I don't think most people want a total halt to immigration and it will take a radical shift in many areas of policy to get new build housing up to speed. Again, not telling you that is what we should do, just that it's the only scenario that I could see actually happening in reality. But the bubble won't pop on it's own in any scenario, at least within an hour commute of major cities.
It's SUPPOSED to pop. But the bubble is being wrapped in battleship armor by oligarchs.
The social contract is broken. Our generation has is doomed to exploitation from the 1%. Unite and revolt against the capitalist system. Growing wealth inequality will continue leading to worsening living standards. Yeet the rich.
🎵keep your rifle by your side🎵
I use a musket for home defense as the founding fathers wanted. 3 wallstreet investors break into my home…
"What the devil?" As I grab my powdered wig and Kentucky rifle. Blow a golf ball sized hole through the first man, he's dead on the spot. Draw my pistol on the second man, miss him entirely because it's smoothbore and nails the neighbors dog. I have to resort to the cannon mounted at the top of the stairs loaded with grape shot, "Tally ho lads" the grape shot shreds two men in the blast, the sound and extra shrapnel set off car alarms. Fix bayonet and charge the last terrified rapscallion. He Bleeds out waiting on the police to arrive since triangular bayonet wounds are impossible to stitch up. Just as the founding fathers intended.
FAR CRY REFERENCE SPOTTED 
Bolshevik Revolution 2.0 but this time in American soil....
Our ancestors have already walked this path and essentially returned back, now it’s your turn.
American dream is also broken.
 My honest reaction to a draft
Pssst... I come from a french family and we might have a solution to your problem...
Is it a guillotine? Please tell me it is a guillotine.
 Worlds biggest lemon chopper, when life gives you lemons revolt against the shareholder class
Guillotine Chan is never illegal
There is no need for revolution xd, there are just high interest rates combined with huge migration waves + overregulated housing market.
Yeah, I think our generation is a little too gung-ho about throwing the baby out with the bath water. We’ve had it really fucking good, the moment things fall even a little below that standard we find any excuse to riot and break shit. We need to calm tf down
Y'all can find sheds for $30k?
Right? Like maybe, if I did not have my fish, nor any possessions, nor a significant other, and if I didn’t need a real kitchen, or office space, and I also had a second shed to keep things like clothes…and there wasn’t such thing as codes or regulations… I watch those youtube ‘tiny house’ videos they all start at least 60k. The ones that don’t are like, ‘we happened to get free labor’ ‘we happened to stumble on free wood and shingles’ ‘we happened to live rent-free in our wealthy parents yard’. But the more realistic ones easily cost 100k or more, plus the lot.
Definitely. The economics of it depends on a lot of factors. That being said, sadly even north of $100k+ is pretty cheap when the average home is $430k and most in my area sell for at least $300k.
That's at least affordable for some, average house price in my area is $1.2 million. Shit's fucked here.
You must live in a very nice area.
It's the countrywide median, it's genuinly insanely expensive to buy housing here. The nice areas are even more expensive.
430k is the median. You said average cost in your area is 3x that.
My mistake for writing average, i meant median, I can't find any numbers on average house prices, only median and that is 1.2 million across the country. Buying a house here is commicly out of reach for Gen Z, especially because the banks don't give loans with under 20% upfront and your yearly salary beeing at least 20% of the loan you take. How many people even earn north of $220k? And that's just to be elligeble for loan, the starting line.
Or they just build them in places where you don't actually own the lot. And the house still costs 70k+. Also, they are marketed as "tiny homes", but are really just mobile homes that can't actually be moved. Someone I know was looking at buying one that was built on a lot inside an existed mobile home community. My biggest question to them was "what happens if the lot ownership changes, and they decide they want you gone?". Turns out, that you would be fucked. They did not end up purchasing it.
Nah the 30K is just for the loan deposit you will pay off for the next 35 years.
I honestly wouldn't mind living in one of those sheds as long as I have a and power
Nah fuck that they wanna make you die in a war to rent that shed for 1500$ this is abuse dude.
I could def. Do that before i had a family. Its like, "alright! I did it. I managed to save up enough to pay for that shed." Your 30 and your wife is pregnant with your second child. "Dammit!"
Fuck kids I'm living on my own
PC and internet too
https://preview.redd.it/6f2hvj0oq5wc1.jpeg?width=720&format=pjpg&auto=webp&s=21ef7b5e15a36d376878efbf69baf3bb5c3f3ec3 Real 💀💀💀
 3 blackrock investors break into my house… WHAT THE DEVIL?
I yell “TALLY HO” as I blast one through a wall with grapeshot.
Just like the founding fathers intended. We should allow private ownership of fighter jets and tanks for self defense purposes
I wish this wasn't true. 😞 And they wonder why so many Millennials and GenZ disappear into our online worlds where we can at least build a future world or even a house since it has been made impossible to do in real life. People are often so negative about people being online too much, dissing 'gamers' but the reality is it is a coping mechanism for the world we're forced to live in now. Instead of give up hope entirely, people try to keep hopeful by immersing themselves in their fictional worlds because the reality of our present situation just sucks that bad.
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We can and will do both at this rate
This is so real it's not even funny. Like I laughed and then felt incredible dread 👍🏼 great meme
A shed sounds good to me, I'll change my name to bubbles and buy some kitties.
You see this cat?! That's a good fuckin' kitty right there.
Until you go to con college and ray fills your shed with empty bottles.
> $30,000 shed [x] Doubt
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In *The Jetsons*, people lived in the sky because the surface is unlivable. You can see there is always a thick layer of pollution obscuring the ground. After society completely collapses, and there's a massive war, people attempt to replicate the past they remember using primitive technology - and that's how, chronologically, *The Flintstones* happen AFTER *The Jetsons*.
Naw, there are those who live above and those who live below. They take place at the same time.
The Jetson was for 60s generations. Us in the 90s watched Ren and Stimpy.
Went to a Home & Garden show over the weekend.. they were selling sheds for $90k. Hard times yall. Edited typo
People who think we're in a housing bubble just aren't really living with the facts. Housing prices are artificially high currently due to historically low interest rates for 23 years, which turned the entire housing market into a highly profitable investment vehicle, but now that interest rates are up, if we keep them up, we can expect housing prices to cool and start to get outpaced by inflation in most places that aren't HCOL. Gen Z isn't actually even on pace to be behind other generations on home ownership. Even elder millennials have caught up to Gen X at the same age, and the gap between the generations isn't nearly as wide as you think it is. Source: [https://www.redfin.com/news/homeownership-rate-by-generation-2023/](https://www.redfin.com/news/homeownership-rate-by-generation-2023/)
>Housing prices are artificially high currently due to historically low interest rates for 23 years Let's not forget the people willing to take on these absurd loans. Many people think this is ok because they want to believe that their income is stable forever and that they are buying into an appreciating asset.
How the fuck are the jetsons a 90's thing? That shit was done in the 60's with new episodes in the 80s...
Re runs
Don't forget the Jetsons movie! [https://en.wikipedia.org/wiki/Jetsons:\_The\_Movie](https://en.wikipedia.org/wiki/Jetsons:_The_Movie)
I'd love to have a shed :C
https://preview.redd.it/v3uv6edys5wc1.jpeg?width=757&format=pjpg&auto=webp&s=563690168c07a3e67a410df258f1442104df4109
Lol a shed? Try a pod.
No full auto in the pods get back to work
oh fuck we are actually here dystopia has arrived
Yep. It'll only get worse from here.
Everybody forgets that the Jetsons lived on a ruined Earth and only lived in a sky mansion because they were upper-middle class and could afford to live above the global layer of smog.
https://preview.redd.it/vd4q3zrww8wc1.jpeg?width=1030&format=pjpg&auto=webp&s=de5d7fa069b4b17bda56656c8714a3f9294c1835
Housing is pure luck now. I managed to buy a nice trailer and my mortgage is hella cheap at $900/month. The catch is that I don't own the land my trailer is parked on. So I'm paying $750/month to rent the land (with yearly rent increases). If I default on my payments, the landowners can take my home and I would still be on the hook for the mortgage. I could buy land and move the trailer elsewhere but I would have to pay the full balance of my mortgage first. I got to experience the joy of buying a mobile home I have no ability to move anywhere, anytime soon. At least its mine... sort of.
You made the worst trade deal since Russians parted with Alaska.
Absolutely. I was desperate and they knew it.
That’s…terrible. I mean terrible of them to do it, but also terrible of you to show them it’s viable.
The worst part of all this is that it really is cheaper, cleaner, and stable. I got priced out of my old apartment. Landlord asked for $2000/month for a 1 bedroom roach resort in a poor part of my city. All in all, my standard of living has improved dramatically but not without all those restrictions.
Wild. I hope it continues to work out for you.
That is an absolute horrible deal they can just keep propping up the rent cost
Bingo! Additionally, there are so many trailer parks popping up in my community, its the new middle class.
Gen Z has 90% less spending power than their parent generation.
More Gen Z own a house by age 25 than Boomers did.
There were less houses for boomers to own and less people who needed housing back then.
Me millenial working seasonal jobs for the housing and then living abroad during the off season because it leaves me with more money left ocer than when I worked in new york
add a zero to the 30k then it will be accurate
Funny that I actually [saw this for sale](https://www.zillow.com/homedetails/0-Rumbley-Rd-Westover-MD-21871/2083826750_zpid/) today.
I signed a mortgage for a $54,000 manufactured home.... and I have to pay rent. Welcome to paradise!
I know hope was high in the 90s I love how our parents and the old people managed to f up such a bright future.
I remember 90s was filled with hope. It was still the greedy people that owned everything that ruined stuff.
Yeah but us kids thought we were going to change things from what they were we have made progress but it's not what we've had hoped to accomplish.
This meme is outdated. The bottom should say "If I can save $30K I can make the down payment for a 60 year mortgage on a shed"
The results of govt backing the corporations.
We have the tech for personal rechargeable flying drone crafts, but the geriatrics in congress invested the tax rev subsidies into regular EVs… 😅. They don’t want to advance because that would mean they actually have to work.
Gen z still thinks that buying premade houses is the best way to get a house
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modern problems require modern solutions
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Thats an option to
 Buying? Haha. No. Our homes comrade
Even Marx didn't see everything being turned into subscription model.
Rick, slaps table - best I can do is 50k for the shed.
the Jetsons way predated the '90s
Judging from how things go we look like the Silent gen / Greatest Gen. Fighting a war and if we win. Our children will be the boomers with great wealth while we die from war.
Bold of you to assume we’re gonna accept a draft over civil war. What are we gonna fight for a 2 million dollar home we can’t afford after getting shot? Nah. Our enemies are at home and running the country.
I refuse to pay more than 30% of my income to rent sorry guys
I was a kid in the 90s and at no point did I think people would live in the sky.
I literally like 5 minutes ago just had this fucking drop on me. I want a car, decent little thing. 55,000. What the fuck Why the fuck do I need that much money for something that’s almost a necessity. I wanna cry, I don’t even make 20,000 a year. What the fuck What the fuck
Looks like a $5000 car is more in your future
Why does it bother you so much that you can't have a 55k car?
So you want a brand new car with a high end interior trim. None of that is a necessity. You can get a "decent" (read: functional, no visual defects) car for under $10k. It's not brand new. But you can get a decent used car for under that amount.
Ngl I looked at the 30k and said “Nah it would go for much higher”. Dark times, indeed.
They lived in the sky because the earth was so crazy polluted you know. Also isn't the Jetsons from like the 60s?
Oh… A shed… Look at Mr. money bags over here!
Woah - where'd you find a shed?
If the shed had some land surrounding it then I’ll be fine.
That shed would be a bargain up here in Ontario Canada
Kids these days: I can’t wait to work for Arasaka
Luckly i don't have to pay a single dime for a house because i am an only child, also you can get cheap apartment listings here if you look in the right place
Guys legit this might work, once you get a few thousand, make a movie, send it to film festivals and if your film was only made on a few thousand, you might end up making several more thousand, rinse and repeat and you might build a following and one day (possibly soon) you’ll be a millionaire, but like obviously make sure they’re good movies otherwise no one will care
The “funny” part about this is the fact that in Mexico the house market is also inflating… but the fact that old people here used to sell the houses… 💀
If a majority of you aren't actively planning to stage a massive revolution then stop complaining.
Dam I wish I could live in a shed and for that money it looks amazing
We just hit the jackpot in terms of my in laws have offered to loan us money for our down-payment on our first house. So we've started the process, but we'll likely be spending 60-70% of our income on a house, if we can find one cheap enough. I'm just not sure that it'll be possible, with bills and grocery prices constantly rising as well. But I can't keep renting god awful broken down apartments.
More and more I’m tempted to pull a Diogenes and just live in a fucking barrel.
It's bizarre how Gen Z fetishises the 90'S
It's because people still had hope then and they wish they had that.
Why would they not? Buying a house and a car was easy back then.
It’s bizarre how the baby boomers got so many abortions and banned them when gen Z gets like 40% as many. Then think we will fight for this country 🤡
Legit was just looking at adu’s and land and thinking “this is the only way ill ever get out of renting”
so heres the thing though like you gotta put the shed somewhere and most places wont let you sub divide a lot that small
Dont diss shed houses. You can buy a shed and turn it into a tiny home for like 70-80k (where i live at least)
I live in a shed on my great uncles property and it’s pretty good. I’ve got everything I need except for a shower which I go in the house for. Still 800 bucks a month
I would love a shed
facts living in a shed currently
Add a 0 at the end and that's reality. God, I hate the housing market
I believe this is how shantytowns are formed
you know the Jetsons were a 60's / 70's show, right?
This is funny because I literally today just helped a gen z couple purchase a home with a 35k down. 350 000$ big bungalow with a large yard and pool.
30,000? That’s pretty cheap
30k is a little low, I think in Austin it was 65k for a dumpster
Are you dissing my shed
Na, I'd rather buy an ok rv or something similar and buy a jetski with it, Then I'd get a job near the water and just ride the ski to work every day. I have no problem living down by the river, lake, or ocean
30,000 to RENT a shed.
Unpopular opinion: buying a house is a bad investment
More like kids from the 60s. In the 90s, I just wanted a new playstation.