>user just bought our house for $1.5million that we bought for $50k! Thanks user!
>Don't worry, i'm SURE inflation and wage growth will make that $1.5million just disappear ;) hehehe
What do???
User just bought our house for $1.5million that we bought for $50k! Thanks user!
Henry Diaz
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Jacob Rogers
Demand and supply.
>He bought that gold for 2000$ which WE bought for $100
>He bought that bitcoin for 10.000$ which WE bought for 1$
>He bought AMZN shares for $100....
Amazing world we live in, right? Fucking demand and supply
Colton White
Split into multi bed apartment
With 1 shared kitchen/toilet
Rent to retards for $1000 per room
Enjoy your $100k/year for doing nothing
Bentley Cooper
the demand for homes in western countries is artificially inflated through lax immigration policies and tax evasion schemes from other countries (especially china). in typical ponzi fashion it's inherently unsustainable, as you need an exponential number of suckers but the pool of foreign investment is necessarily limited. it's not like the demographic boom in africa will make eager to invest billionaires in the thousands
it might not necessarily crash, but the kind of x30 appreciation OP is talking about will NEVER occur again in western countries (unless inflation itself balloons up relatively, making it meaningless)
Jace Moore
Oh really? You cannot get the same returns as people who bought at the bottom? PhD in mathematics is needed for this conclusion. I thought i can get 30000% gains with cryptos....
Nevertheless the demand for real estate and over all properties will growth, especially condos, since the single house holds will growth together with the popoulation due to immigration. And then we are back at the demand and supply premiss.
But hey. Lets wait til the house costs 3m.
Caleb Campbell
I read a boomer article saying because prices for homes had been growing ~10% p.a. over the past decade or so, we can expect the median house price to go from $1m today to $20m in the future
lol the absolute fucking state of boomers
Aiden Perez
Also the average person has no idea that wage growth and inflation is over. QE ended it for the West. The phillips curve is now debunked boomer economics.
People still buy dwellings thinking that inflation and wage growth will eat away at their mortgage and things will 'even out'. This is so wrong its retarded.
economist.com
brookings.edu
nytimes.com
nytimes.com
nytimes.com
Easton Perry
Quantitative easing? Yeah thanks fed reserves. Im working in mining and gold and silver mines have maxed out production and are reprocessing shit that isnt even viable yet. What do they mean by this?
Something mining giants (glencore, bhp, rio tinto) know that the normal pleb dont?
Hudson Myers
wait 50 yrs and sell that bitch for $45 million
Xavier Martinez
no, again, that's what i'm trying to tell you: the overall demand for real estate cannot possibly grow forever, because it's already past the point of organic demand
you're not going to see 10 billions people all wanting to live in america, and more importantly you're not going to have the wealth distribution to support the prices the market is already asking. sure, you will be able to sell your $1.5MM house for $3MM in non-inflation adjusted dollars - that's a near guarantee. but whether housing will even keep up with the pace of inflation is already a gamble
economic pressure is already forcing large swaths of the population to live at their parents' well into adulthood, pod spaces, perpetual renters. then you've got situations like china where 50MM homes are empty because they were built to meet gdp projections
the math simply can't add up for perpetually rising house prices, and seeing this doesn't require a phd either
Ryder Gray
Good book on this (in general, a lot isnt specific)
amazon.com
More articles here mises.org
Parker Martin
If I have $1.5 million to spare on a house, that means I'm already better than the boomers. It's a lot of money to them but chump change to me. It's like giving $5 to a hobo. I wouldn't really spend $1 million on a house if I didn't have well over 50 millions and making 5 millions a year with dividends.
Hudson Lopez
show me the house that was purchased for $50,000 that then sold for $1,500,000
to match the historical inflation adjusted rate of return on houses in America, it would have to have cost $50,000 in 1932, at the height of the Great Depression
Gabriel Nguyen
This is bait, right? Kek
Colton Morgan
Pension funds are collapsing, boomers will be forced to sell their homes just to survive. Wait another year or maybe 2.
Nolan Cook
bought a house 4 years ago for $305k and selling it for $350k very soon. USD is fucking dead bros, inflation is thru the roof, they're lying to you saying it's 1-2%. taking $20k of my profits from selling and putting them into bitcoin.
John Phillips
Look at the north east in the immigrant landing cities right outside of the major cities. Anecdotally, my grandfather bought a two family ($50k) on a laborer's salary in the 70's which is now valued at $1M. In looking at purchasing my own two family, price history shows 6x appreciation since the 90's (last sold @ $200k in '98, selling for $1.6M in '19). Shit's unsustainable and I'm waiting for the boomer die off to lax up housing demand - their inheritors will probably be forced to sell during probate due to boomer financial "planning" blowing up, creating a buyer's market.
It's already starting to happen - volume has slowed on home sales, prices are starting to follow with cuts, once all the sideline sellers "waiting to see" where the top is jump in when they realize this is as good as it gets before they kick the bucket it's going to be beautiful. Lmao @ all the idiots buying condos in what would be considered single owner two families back in the day - for what they paid in 2018 they could get the whole building in a few years.
Isaac Hill
You got a lot of learning to do, bucko. Dubs notwithstanding.
Josiah Hernandez
There's thousands of these properties wtf
Bentley Ross
>foreign investment is necessarily limited
not in the slightest
Landon Brooks
Now that Gen X and Y outnumbere boomers the laws for foreign ownership will change. Boomers loved the Chinese paying for their retirement, not caring they were stopping their children from having a home/family.
Younger generations are already not thrilled with it. Evidence in Canada, New Zealand, Australia. It'll take off all over the West.
Brody Scott
>poor people have to rebuy all their possesion through each generation
>wealthy elites inherit built up wealth on each generation so they get richer
which are you
Thomas Cox
>Evidence in Canada
Bro, our younger generations are cucked to hell there is nothing they will do to help nationalize our economy.
Austin Scott
>TORONTO — Luxury home sales in two of Canada’s most expensive markets are down from a year, as the high-end real estate market feels the effect of foreign buyers taxes.
>In an annual report, realty brokerage Re/Max says sales of single-detached homes priced from $1 million to $2 million fell 35 per cent from a year ago in both Toronto and Vancouver.
It won't stop there. That's the first placation the globalists make under duress from the newly empowered young voter bloc.
William Thompson
just enough for 3 cheeseburgers
Jayden Jones
Oh shit it went down from 2 mil to 1.3
Zoomers are going to buy all of those with their 40k (before theft) a year jobs
David Torres
>being an obtuse faggot by default
Must be nice. Must be real nice.
Ryder Garcia
I fucked up, but the exact numbers were not the point. Even if the prices, not sales, went down by 35pct ehich would be the greatest crash...there is no way out for the most of zoomers either.
Alexander Brooks
You do know boomers enacted those foreign buyers laws right? Because they want to buy the dip. Zoomers and millennials haven't done shit and aren't going to. Oh except dress like faggots, take opposite hormones and get buttmad when called 'him' or 'her'