We've been at pre-2008 levels for some years now and even though it is clear there is no more steam and it has just been sideways, when is the cuckdown?
Housing market
Joshua Thompson
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Cooper Wilson
more than likely going to break upwards
Isaiah Robinson
Why?
Nicholas Baker
it's because prices hit levels that lending can't support, so we've been slowly filling that gap with non-bank/fintech money who haven't traditionally been under the purview of regulators. so don't worry user, we continue to lower credit standards and increase risk by the day, the crash will come. retiring boomers are already figuring out millennials can't afford their 600k mcmansions and never will be able to.
Justin Rivera
>retiring boomers are already figuring out millennials can't afford their 600k mcmansions and never will be able to.
That's a good way of putting it. They will be left with some heavy bags and even if it is left as inheritance, the kids will most likely want to liquidate that.
Hopefully the banks have our backs this time too. I really don't want to buy the top.
Jackson Perry
the banks are closing ranks because they already smell the blood in the water. non-bank market share is up considerably over the past few years and the banks could lower their standards to keep up, but they're not. it is also harder for them because they have direct lines to the regulators already in place, but for the most part they're preparing for a major correction. the new problem will be keeping people in their homes and out of foreclosure.
Daniel Powell
I was planning on buying a house last year, but from the looks of it I should just hold of on it since it's at an all time high.
Gavin Smith
inflation, millennial starting to buy in homes...
You arent a retard doomsday fag trying to predict the rare housing crash are you?
Evan Bennett
>retiring boomers are already figuring out millennials can't afford their 600k mcmansions
an ENTIRE HOUSE for only 600k?
holy fucking shit where do you live?
Joseph Cruz
Every single major economic indicator is good, plus wages, the primary driver of domestic demand, which is the primary driver of the US economy, are growing at their fastest rate in a decade.
If the Chinese finally can't take their economy bleeding any more and make a trade deal the market will jump. Every time there is even a rumor of a possibility of a deal happening the market jumps a couple percent.
James Reed
we are so fucked
Jaxson Ramirez
>millennial starting to buy homes
HAHAHAHHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
Justin Ross
when boomers start dying en masse
Ryan Turner
>"no way that's real"
>its real
what the actual fuck. No wonder the Australian housing market is starting to crash
Ryder Mitchell
There is still chance economy will go parabolic and current prices will seem low in 10years.
Before WW2 most people had to rent.
Caleb Rodriguez
>millennial starting to buy in homes
Adam Bailey
kek, sure user. we'll go parabolic on grocery store salaries, most jobs being automated away, crushing consumer debt, and crushing business debt.
Gabriel Diaz
Let's be totally honest here : most jobs that could be automated easily are already outsourced to the third world. Automation is the best thing that can happen to the west.
Isaac Reed
those outsourced jobs, a lot of them good union manufacturing jobs, used to carry decent wages in the west, wages that could afford the average joe of previous generations decent housing and the ability to raise a family
a lot of these have been replaced with either hyper-competitive skilled office jobs and a boom of service sector mcjobs riding near the minimum wage
Henry Cook
Don't get me wrong, dumb people holding dumb service or factory jobs will still get shafted hard, but skilled people will get better and better.
Leo Edwards
>2010 housing bubble will pop
>2011 housing bubble will pop
>2012 housing bubble will pop
>2013 housing bubble will pop
>2014 housing bubble will pop
>2015 housing bubble will pop
>2016 housing bubble will pop
>2017 housing bubble will pop
>2018 housing bubble will pop
Now we have 2019 and guess what. Demand is still increasing due to fucking migration and milenials starting to buy their own ones. But yeah this year we will pop or any time soon, right? As long as I call the doomsday each year, I will be correct once.
>Timing in the market > timing the market
Owen Powell
Why do people spend 20-30 years wagecucking to afford a house, while if they learnt how to build one themselves they could have it completed in less than 5 years?
Dominic Baker
except no, the boom of low-wage jobs will continue, with many skilled and educated workers being forced into these positions, while many more flee to already over-saturated skilled job markets
wages will deflate in these over-saturated labour markets as well as they become an employer's market
this has been the trend for decades, and it doesn't seem to be stopping anytime soon
don't get me wrong either, certain fields will definitely still have employment opportunities, but they will see lower real wages and more competition on average over time
James Foster
>many skilled and educated workers
Sociology major doesn't count as skilled and educated
Juan Jones
is that seriously all you took away from my post?
Austin Wilson
Yes, mostly because you are a defeatist retard. Unions losing power is a good thing, they aren't needed.
Jace Kelly
>cost of materials
>opportunity costs of acquiring skills of framing, finishing, electrical work, plumbing, pouring foundation, furnishing
>opportunity costs of performing this labour while not earning a living full-time, or extending the construction out over extra time to work around a full-time career
where I live that's gonna cost you a fair bit more than just buying a home
Jason Foster
I'm a defeatist retard for seeing that more and more people pressured into skilled labour positions will lead to a hyper-competitive labour market, seeing a decrease in real wages?
have you even taken an economics course before?
Brayden Hill
imagine the smell
Xavier Sanchez
And automation will increase the need for those skilled jobs. Currently, most low-skilled manufacturing jobs are already out of the country. With automation, manufacturing within the country will be worthwile again, therefore increasing the need for highly skilled manufacturing, design AND maintainance jobs.
Luis Foster
Boomers retiring and liquidating might be bearish..
But
Dead boomers fucks us with a big bank cock. They will tear down their vacant houses to further lower the supply.
Daniel Torres
Like, we're born into a society where unless we're lucky we're forced to wageslave for decades to have a house that we can call our own, while if we were actually taught useful skills in school we could build our house and get the materials for it in a few years, and then not have to wageslave for others our whole life. We are born as slaves, when will people wake up to this fuckery?
When people wake up to that we would have a -80% crash. Same shit with the land, why aren't there vast lands where people are allowed to build their house freely as long as it's say at least 100 metres away from the others? But nah we can't do that because some self-proclaimed masters of the land want it all and want us to wageslave for them.
Joseph Martin
11111
Easton Bailey
except it isn't a zero sum game, where the wages gained by skilled labour in maintenance, manufacturing and design don't make up for the wages lost in manufacturing unskilled or low-skill labour
the reason why these industries are pushing for automation is because it lowers labour costs (they don't have to pay their workforce as much) overall in the first place to maximize profits
Carson Roberts
>the reason why these industries are pushing for automation is because it lowers labour costs (they don't have to pay their workforce as much) overall in the first place to maximize profits
If you ever worked in any industry you'd know it's not why automation is pushed in the first place.
To reduce labour costs, you better outsource overseas. Automation is mostly useful to raise the quality of your output.
Ethan Long
Watch grand designs australia. Last episode I saw some boomers spent >6 million on a house that would cost maybe 400k in usa. No joke. The cunt was project manager and constantly changed her mind, and now she wants to make it her career.
Lucas Taylor
You can live on neetbucks while you're learning the skills and how to acquire the materials and how to build. Makes me want to start a huge tutorial, how to build your own house and list all the steps in details, once you have a well-explained and detailed tutorial it would just be a matter of focusing on it, there's a lot one can learn and do in a day when one doesn't have to wagecuck a repetitive mind-numbing job.
Heck you could have with you a few other people working together to build a house that they share, then once they've done one it's much faster to do the others.
Comparing that to the physical and mental and time cost of spending decades being exploited in a repetitive slave job that kills your soul and your mind, it's not even comparable to me. Or maybe most people enjoy being slaves? Or they're too afraid to go against the flow.
Adam Bennett
who is going to buy all your high quality shit if everyone is unemployed?
Henry Peterson
I have worked in manufacturing, have taken courses in economics, manufacturing management, accounting and general business
quality assurance is a factor but increasing labour productivity by reducing labour costs and increasing output are by far the largest motivators for automation
automation is a tactic to lower labour costs in order compete with the overseas production on lower wages
Robert Bailey
I don't understand how the Australian market is so fucked. In Europe there's an excuse because it's much smaller and densely populated, but Australia is fucking enormous with a small population so you'd expect land to be dirt cheap. Here in London the city has its legally defined limits so it can't expand further, causing prices in the city to rise, but can't cities like Melbourne just keep expanding outwards considering the sheer amount of space?
Luke Bennett
It will be the same as bitcoin, but much slower. everyone said shit like it will pop, yada yada yada for a few years, than it toped at 20k and guess what? It fucking poped
Easton Kelly
Sebastian King
It's the exact same. I mean, sure Europe is more densely populated, but people don't pay fortunes to live in fucking Coventry or Nevers or any other backwater or post-industrial places. People pay fortunes to live in big cities like Paris, London or Milano, with as little commuting time as possible, and that's it.
You can have really dirt low prices for houses and land in Europe, but that's far from any city.
Brandon Miller
everyone wants to live in the big megacities.
Plenty of land but people want to live together
John Peterson
Hopefully not until I get some fucking leverage.
Dominic Evans
Small difference is. Nobody fucking needs bitcoin and will never need it. Bitcoin was driven by speculation only.
And guess what, housing is about supply and demand. Obviously speculation is involved too, but not even remotely close to the speculation in crypto assets.
Welcome to Jow Forums. Crypto market = Real estate market
James Carter
God save us when the economy finally collapses
Luis Morris
>TFW parents help me get my first home because I'm autistic.
Thanks mom and dad.
BTW its a small bungalow not a fucking mansion and I paid the deposit which was 10k that I worked hard at a minimum wage job for over 7 years for.
Jaxon Brooks
How close is the us housing market to collapsing?
Sebastian Cooper
>buy my fucking bags you cheap little shits, this house is my retirement fund and if you don't I won't be able to retire
when the boomers in government stop scratching the backs of boomers.
Benjamin Reyes
It's so funny watching you doomers cope to mask the jealousy. Guess what? Growing population + inflation = you are never going to make it. The housing market is just like the stock market. The longer you sit on the sidelines the further behind you are falling. Your only chance to play catch up is a 2008 level crash. Lets face it - you fucking idiots aren't sitting on any fiat to capitalize with when that time comes anyways, or you would already be invested and on the boomer side instead of cope posting to eachother about how 3500 square foot houses in white neighborhoods are going to suddenly drop so drastically in price that boomers will sell them to you for 50% of what they paid for them. The cope is fucking insane.
t. posting from boomer mansion on acreage that I paid $500K for last year. This is my 2nd boomer mansion, an upgrade from my first boomer mansion which I paid $245K for 10 years ago.
To dump salt into your cope wounds, I moved from Iowa to Texas last year, and the money I save in state income tax alone almost completely covers my mortgage payment. (mortgage that will be paid off in 5 years from purchase because all mortgages are a scam)
Enjoy your apartments and rentals. Enjoy paying the same amount you would to own a home (or more) - but never acquire a cent of equity. Never. Going. To.....
Tyler Nelson
>people would never attack other homesteaders in an anarchy
Adrian Parker
Well at least you are upfront about the fact that you are shilling your bags here.
Sounds like the softening market is starting to plant the seeds of doubt in some NPCs.