#11
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I think the answer is more nuanced as evidenced that they talk about this on the news and it isnt just me that is noticing this. Quote:
That first bit seems like something the gov may try to change in the next decade or 2 I wonder. I could see political initiatives to help people get low interest rate loans backed by the gov if the economy keeps growing and the rates go up while the prices continue to soar. | ||||
Last edited by Jibartik; 05-24-2021 at 07:21 PM..
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#12
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I live in a two story Dorito bag.
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#13
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There's some element of demographics shift at work too, I suspect. A disproportionate number of people keep trying to move into the same handful of regions. There's no housing shortage around here locally. Just within my little unincorporated town there are several abandoned houses and several more which have been bulldozed (due to falling apart from disrepair) within the past 5 years. Houses which go up for sale not infrequently take months to sell, if they sell at all.
Inside the actual cities themselves, like Cleveland, entire neighborhoods are being bulldozed due to population loss. In some areas there are now fields where there were once rows of houses. This is the opposite of a housing shortage. Danth | ||
#14
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There's an eviction moratorium and the government is spending $40billion/mo on MBS for the past year, so no, you will not be able to afford a house for at least another ~15 months assuming Biden and the CDC don't extend the moratorium and continue to not hint at even hinting at tapering.
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#15
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The median price of a home here is $1.5MM. The average is just under $1MM.
Now, question for the Trumptards, what do all of the expensive cities to live in have in common? I do think it is unsustainable, but as someone who paid <$400K for my house a long time ago, I don't have the same concerns as someone who's just pulling into town. Even my rental 12 miles away has almost doubled in value since I purchased in 2016. If my tenants weren't so nice I'd be selling this summer. | ||
#16
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__________________
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#17
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I never ended up pulling the trigger, but I was able to find a loan for a second home (that I could have rented out part time) with 15% down. Typically that's more like 20%-25%. Still, me putting down $120K on an $800K in a resort area is not the reason people can't afford homes. | |||
#18
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Homes are "purchased" via a scam called a mortgage whereby money is fabricated out of no where and create slaves. This creates many problems.
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#20
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