The Housing bubble
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So actually anything I post really has nothing to do with taking a shot at millennials. Only trying to get a handle on investors going all-in concerning the rental conglomerate angle. Maybe it's the trending thing to do and somebody has looked into it for the near future. And maybe, actually probably, a lot of people are jumping on a bandwagon.
As for my own properties I just wish the tenants would go for a drive and leave cigarettes burning in the bed.
WSS
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Sadly, I don't think this one is a bubble. The 2008 bubble had prices go up based on speculation, when combined with giving mortgages to a bunch of people who clearly couldn't afford them, the system collapsed. This time, the prices are rising because of inflation, but they're actually backed by real dollars instead of speculation. What this looks like on the ground is that massive financial institutions such as Blackrock are scooping up single-family real estate and renting it out. They aren't going to default on these mortgages. I just bought a house in this batshit market. I paid 25% over what this house was worth pre-pandemic. Some of the houses I looked at were on the market for 4 hours before being purchased sight-unseen.
You guys know I am a physician, and I can afford this expense, but the working class is absolutely screwed. The vast majority of millennials will be unable to build any equity via home ownership. I have half a mind to pull all my money out of the stock market and go all in on crypto, metals, commodities, and real estate just because I don't want to support this awful system that most pensions are running off of.
It definitely sucks for any of my friends that didn't already own a house and were looking. They either have to wait and hope for the best, overpay, or get a worse house.
I've heard/read a lot about large companies just buying up properties to rent. Seems to be really fucking with supply and demand. Through in some lagging supply chain pandemic issues coupled with new economic issues and not as many houses are getting built, compounding the issue.
You really would invest that much in crypto tho? Seems risky
You really would invest that much in crypto tho? Seems risky
Huge risk, and I'm not quite ready to jump into the deep end. I'm still bullish on crypto though. Would hope that diversifying with real estate, precious metals, and commodities would be enough diversification to feel better about it. I know I'll likely be missing out on gains that would be had in the stock market, but my goal is only to live modestly in retirement.
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Surprisingly gen Z is more prone to purchase. Millennials are more prone to rent. I wouldn't have guessed that but it makes sense. I have rental properties and I get offers for them every week. It's either individual investors or individual investors in a conglomerate buying up everything they can putting a few bucks into them and renting them at high prices.
I really get tired of screwing around as a landlord especially because I don't charge hardly anything. If I were smarter I'd have handyman fix them up and be ruthless about it. I'm guessing that's what the conglomerates do since they're buying dozens if not more properties. A couple of them that I've spoken with one was from Los Angeles one was from Atlanta so... the one from Los Angeles had an agreement with a handyman that's actually done a lot of work for me.
Hard to keep up with all the stories and predictions sometimes saying that the prices will continue to Skyrocket some say the bubble is about to burst.
"Why Millennials are Renting More — And Why It Works for Them | MYMOVE" https://www.mymove.com/buying-selling/guides/millennials-renting-works/
WSS
Surprisingly gen Z is more prone to purchase. Millennials are more prone to rent. I wouldn't have guessed that but it makes sense. I have rental properties and I get offers for them every week. It's either individual investors or individual investors in a conglomerate buying up everything they can putting a few bucks into them and renting them at high prices.
I really get tired of screwing around as a landlord especially because I don't charge hardly anything. If I were smarter I'd have handyman fix them up and be ruthless about it. I'm guessing that's what the conglomerates do since they're buying dozens if not more properties. A couple of them that I've spoken with one was from Los Angeles one was from Atlanta so... the one from Los Angeles had an agreement with a handyman that's actually done a lot of work for me.
Hard to keep up with all the stories and predictions sometimes saying that the prices will continue to Skyrocket some say the bubble is about to burst.
"Why Millennials are Renting More — And Why It Works for Them | MYMOVE" https://www.mymove.com/buying-selling/guides/millennials-renting-works/
WSS
I turn 36 this year. I've never owned a house, and I figure if I can't get one by the time I'm 40, it's just not going to happen.
Housing prices are fucked. I'm seeing rundown hunks of shit in the heroin neighborhoods of cities in my area going for as high as $100k; houses barely above the threshold of being condemned. Everyone I know that's currently looking for a house keeps saying the same thing: they put a bid in on house after house, only to see corporate investment firms like Black rock swoop in and buy for like 20-30% over value. Middle class Americans can't compete with that.
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I watched a youtube yesterday of some lady in Austin Tx who's lease renewal came up. They raised her rent from 900 per month to 1400 per month. That shows the fuking greed of people.
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I watched a youtube yesterday of some lady in Austin Tx who's lease renewal came up. They raised her rent from 900 per month to 1400 per month. That shows the fuking greed of people.
I watched a youtube yesterday of some lady in Austin Tx who's lease renewal came up. They raised her rent from 900 per month to 1400 per month. That shows the fuking greed of people.
No bro, free market
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I watched a youtube yesterday of some lady in Austin Tx who's lease renewal came up. They raised her rent from 900 per month to 1400 per month. That shows the fuking greed of people.
No bro, free market
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I watched a youtube yesterday of some lady in Austin Tx who's lease renewal came up. They raised her rent from 900 per month to 1400 per month. That shows the fuking greed of people.
I watched a youtube yesterday of some lady in Austin Tx who's lease renewal came up. They raised her rent from 900 per month to 1400 per month. That shows the fuking greed of people.
I'd like to know when the last time her rent was increased as well as a zillow listing of the property. they are generally pretty accurate on rent values.
Also, did she thank Bidinflatio, eerrr, Putin's inflatio,,, wait!!! Putin is a direct result of Biden so,,,, ?
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those who want to buy a home now, keep getting outbid. Maybe a good time to find a lot out in a rural setting at a decent price....., and save up to hire your own subcontractors. If you can find out which of those actually do excellent work.
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"Housing Bubble Getting Ready to Pop: Mortgage Applications Plunge amid Holy-Moly Mortgage Rates, Croaking Stocks, Ridiculous Home Prices | Wolf Street" https://wolfstreet.com/2022/05/18/this-housing-bubble-is-cooked-mortgage-applications-plunge-amid-holy-moly-mortgage-rates-croaking-stocks-and-ridiculous-home-prices/
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Regardless it seems like a watershed moment for people needing a place to live. It's turned into a giant investment business and a lot of people are making a lot of money and a lot of people are being closed out of the market. Deadbeats will rent because the government picks up the tab. Others will rent because they can't afford to buy a house some will sell the homes they have owned for their whole lives take the cash and read something smaller. If you think home ownership is part of the American dream time to wake up. Does it suck? I think so but people will live in whatever situation they are born into.
WSS
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"Sellers are slashing prices at levels not seen since before the pandemic as market rapidly cools" https://www.dailymail.co.uk/news/article-10862005/Sellers-slashing-prices-levels-not-seen-pandemic-market-rapidly-cools.html
Not sure how the reporting or the conclusions that could be drawn from it is what I've been saying all along but somebody is going to get left holding the bag.
WSS
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Don't know if anybody has concerns beyond hair color sexual impropriety or dementia but for anybody that actually cares about the economy and the housing bubble there are some red flags here.
https://fortune.com/2022/05/28/recession-predictions-not-great-financial-crisis-experts-say/
WSS
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