Trump managed to fuck up the greatest market in the world

Thank God. These boomers need to suffer.

Its not trump you stupid financially illiterate pile of shit.
The fed raised interest rates on the 10Yr which raised rates on mortgages. When rates go up, payments go up, which means home affordability goes down. People can only pay so much per month so prices fall. If we get another QE we will see higher prices but that will only last so long.
Rates will have to go up at some point and its gonna be very painful for these boomer fucks that own homes.
And thats a good thing.

>People can only pay so much per month so prices fall
why don't they make more money?

>Trump managed to fuck up the greatest market in the world

How did he do that? Please explain!

>The exploited and abused housing market is the greatest market in the world
Yeah okay there, Chang.

Why make more money when you can get a bigger loan?

The Bay Area was an insane bubble. Home values were increasing by $1000 a day and faggots thought this was in some way sustainable and would never end. Combine that with hordes of junkies and homeless that have descended on the area like some Old Testament plague and it was only a matter of time.

>bay area
>greatest market
Ha.

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>And thats a good thing.
Yeah if housing prices go back to being sane it could be a good thing.

Fuck the lower classes. With technology, we won’t need most of them soon. They need to die off.

based millennial

A fairly well built 2 bedroom house in Santa Clare (aka Silicon Valley) 1990 cost about $35k

We must embrace our fundamental transformation by sharing multifamily housing with three generations of immigrants living under one roof and mariachi music blasting from the speakers on the roofs of the derelict cars in the front yard.

Welcome to slumworld: Single-family houses converted to ten-unit buildings, being legalized in California, NY, Florida...

owner will be legally allowed to subdivide a single-family house to turn it into small pods

latimes.com/opinion/livable-city/la-ol-sb50-single-family-20190424-story.html

>houses more affordable is bad
K

1. Home prices have had no negative years since 2008

2. San Francisco is it’s own microcosim

> the completely and absurdly overvalued housing market is experiencing a correction
> this is a bad thing

i can see those double-digit IQ points kicking in

Why are so many kikes on Jow Forums?

houses are not assets, they are liabilities. they produce no wealth, and when they become commoditized, it means there is nothing else left to invest in.
high housing prices = economic death
a house is a home, shlomo.

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>Interest rates were 4.1% in April 2017

>Increase rates up to 5.6% in 2018

>Lower them down to 4.8% in 2019

OMG WHY ARENT PEOPLE BUYING OVERPRICED HOUSES AT OVERLY HIGH INTEREST RATES. GIVE US YOUR MONEY GOYS!

>insanely overpriced housing is good and prices should always go up

Kys OP I guarantee you are Boomer scum

>they produce no wealth
>he says as he rents from mommy for free

The most over-priced housing markey? So lowering the cost of living? Yes, orange man bad.

...

>they produce no wealth

Damn, I guess the extra 5k a month I get from my properties must be an illusion.

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Actually, you’re kinda right.

Sell your house when it’s overpriced and sells for way more then it’s worth and then buy a cheap mansion when the market crashes.

>the houses didn't get cheaper
>the jews just decided to jew you slightly less for a brief period of time

california was a mistake

houses are a depreciating asset

You mean the most Jewish market in the world.

>with Bay Area leading the way
Where a person pays more per square foot than anywhere in the country, the prices went down? And that's a bad thing?
This "MUST ALWAYS BEING GROWING" capitalism is making me weary.

35k? Are you forgetting a zero? I find it hard to believe that a house in CA was ever that cheap, even 29 years ago.

What is/was a middle class area.
House listed 4-9-2019 $1,275,000
House pending/sold 4-12-2019 $1,280,000
This was in 3 minutes of looking. Many similar sales all over the Bay Area.. Yes the market is cooling, the house only sold 5k over asking, and it took 3 days to sell. OP is a complete faggot. The plan was to crash the housing market, but they have been unable to do so. The Trump economy is too strong. But that doesn't stop the kike lies.

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For fucks sake, even with roommates, each one would be paying over 1k/month. That's absurd.

$35k is correct. Silicon Valley was empty farm land in the early and mid 90s.

In 1998 you could buy a house in Frisco for $150k

Its beyond absurd. The taxes alone on that place would be over 13k a year. Then add mortgage and insurance.

Maybe
Just maybe
Move somewhere that isn't a major city in one of the most popular areas in the world and a center of tech/culture
>woah

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>That's absurd.
not when the couple makes a combined 600k from software jobs, it's actually pretty cheap house

West coast in the 90s was dirt fuckin cheap. A house in LA went for 140k back then.

In the 90s, the entire Phoenix/Vegas area used to be dirt cheap because the weather is almost unbearable 6 months of the year. People flocked there from other areas of the US almost exclusively because of the cheap prices. You could buy a brand new house in the west valley for $50k. Then bankers and immigration bubbles happened.

FUCK GLOBALISM!

I got locked in at 3.25% thank you VA homeloan. I had to pay 9g to lower the rate to 3.25 but it will be worth it in the long run

This sits on 46 acres in Gods country. Its actually overpriced, and would go for around 280k. There are places to be had everywhere. Just gotta look.

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>selling your house
>ever
Literally only dumb fuck boomers and kikes are affected by this, owning land isn't meant to accrue value like owning stock

The bay area ad coasts recovered from 2008 back in Obamas first term. This is a normal retraction. This is not happening in the flyovers that the elites never cared about.

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>owning land isn't meant to accrue value like owning stock
It is in areas of high demand

Imagine thinking The Bay Area's problems manifested over night. Bait.

Before free trade (open borders), My boss, graduated STEM in mid-late 80s. His starting salary was 45k.
Today it is the same. Yet price of everything has surged 9000%.

He bought a house in LA for $70K the same year he started work.

he could buy a brand new car and pay it off in 2-3 months. He'd buy a new one every year for work because they were so cheap

You can get that for 250-500k in New England.

Based parasitic rent-seeking. McFucking murder yourself irl you degenerate leech

No, it and you at symptoms of cancer :^)

>when you so deep in to economic trade war you have to false flag property values so people will pay more land tax and get dupped into debt

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>house in Santa Clare (aka Silicon Valley) 1990 cost about $35k

Can confirm. My uncle bought a new home in Santa Clara for only $38k in 1992.

In the 90s Santa Clara County was paved over and turned into Silicon Valley.

It was all white back then, too. There were NO chinks/spics/poos!

>(((high demand)))
Where's the demand if we're not having babies, chaim?

>Fuck the lower classes. With technology, we won’t need most of them soon. They need to die off.

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Okay cool

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BAY AREA HOUSING CRASH

PLEASE GOD. SO MANY STUPID ASSHOLES ARE ALREADY 900K DEEP ON 2000sq ft RANCH HOUSES.

This, fuck boomers

For some reason I was under the impression that California was always expensive because of the desirable weather/landscape.

That looks like a nice part of CA but jesus fuck it's so isolated. I like being out in the sticks but I need reasonably fast internet for work.

Technology will bridge that class distinction soon enough, give Musk a chance to give free internet to Africa

Not at all. Cali never had expensive housing. Cali housing had the same housing cost as the rest of the country.

The flood of poos/chinks/spics changed it all for the WORST.

1992 $146,000
2018 $1,049,494
redfin.com/CA/Milpitas/2242-Levin-St-95035/home/553505

2000 $150,000
redfin.com/CA/Los-Angeles/158-W-Ave-27-90031/home/6945944

1995 $150,000
redfin.com/CA/Los-Angeles/1521-W-84th-Pl-90047/home/7292711

1995 $150,000
redfin.com/CA/Sun-Valley/8340-Glenoaks-Blvd-91352/home/5270118

1998 Sold $150,500
redfin.com/CA/Los-Angeles/6001-Eucalyptus-Ln-90042/home/7084011

11/1/2000 Sold $201,500
7/20/2018 Price change $900,000s
zillow.com/homedetails/512-Gertrude-Ave-Aptos-CA-95003/16134819_zpid/

>boohoo my shitty house flipping business is hurting, nobody will buy my open floor plan mcmansion for $1.5 million

I build houses in gentrifying areas on the east coast. The majority of them are sold to investors. The current cycle has been running very long and is finally in the last inning.

Fuck your property values. I hope you residential real estate investors lose your shirts.

from January 2000 to July 2006, starting with Bush NWO leader's Housing Bubble, home prices surged 900%

Avg price of house around 1998 before globalisation and free-trade went full swing
>$180k in NYC (boros)
>$150k in Bay Area
>$150k in LA
>$120k in DC
>$140k in Sydney
>$120k in Melbourne
>$140k in Toronto
>$190k in Vancouver
>£70k in London

Avg price of house after 2004 massive free-trade/open-borders
>$800k in NYC (boros)
>$1m in Bay Area
>$600k in LA
>$500k in DC
>$900k in Sydney
>$700k in Melbourne
>$600k in Toronto
>$1m in Vancouver
>£400k in London
---------------------------------------------------------
before free trade:
>domestic production of goods
>goods were affordable and of high quality
>lowest cost of living
>affordable housing (house costs only 2 times the annual salary)
>90% white

after free trade:
>homeless/opiod/suicide epidemic/white genocide
>unemployment
>highest cost of living
>unaffordable housing (10-20 times the annual salary)
>plummeting life expectance
>shit quality products that kill you
>millions of illegal shitskin locusts invading and killing whites

>home values drop
>young families can now buy a home
i don't see how this is a bad thing

The reason there is a homeless epidemic is specifically because California turned from a White state with cheap housing to a brown state full of chinks/spics/poos with expensive housing.

All the Whites that afforded cheap housing became homeless as a result.

Fuck QE

But muh investment and returns.

Commiefornias' been fucked since before obummer. Go fuck yourself

Leftists need to an hero.

This. This shit needs to die off en masse, not be artificially sustained through subsidization and immigration.

The idea is the Obama-era „too big to fail“ kvetching, in which the mortgage lending market is tied so deeply into the economy that a failure in this sector leads to an overall panic.

>he thinks the rentier class creates wealth

> buy house for $x
> house is now worth $x/2
> impossible to sell house now without financially ruining yourself

lmfao I understand the violence and genocide of the old testament because of California, I hope you all burn

Historically, houses throughout the metro cities in US were always 2X the median income-- that was before Bush's house bubble started 2001. You could buy a house in LA or NYC in 2000 for $160k. Globalized open borders results in overcrowding housing, with landlords packing 10 renters to a room to cover surging housing costs. This is how a pyramid scheme based on importng endless suppy of humans to prop up neoliberal housing wealth effect ponzi works

globalists offshored our White industries and replaced it by flooding in millions of foreigners to pillage our domestic resources and create a housing bloodbath frenzy where Whites compete with billions of poos/spics/chinks for shelter in our own White homelands

globalists are reliant on ever-rising house prices, otherwise they risk the collapse of their immigation ponzi scheme

globalists sent our industries to Asia and destroyed our economies

In absence of formerly domestic industries, this housing bubble is driving the economy. To prevent it bursting, politicians create artificial scarcity by importing millions of foreigners to pack into houses like sardines. This means the government flooding us with poojeets/chinks/spics and banksters hoarding housing stock

globalists love the dominant housing shortage story as it means government will often let them build developments, in the misguided hope that simply building more homes – any homes – will ease the crisis

The “shortage” rhetoric also lets the globalists off the hook, instead allowing globalists to reiterate the toxic “We need to build More houses to house all the foreigners flooding in”, while creating a homeless epidemic and blaming populists instead of globalists

So if we want to combat the housing crisis, what story should we tell? The common sense maxim that no one should immigrate to our countries and no one should own more than one home until everyone owns a home would be a good place to start

Housing collapse when?
I'm all in on Crypto, so I can't wait for the upcoming Boomercaust

semi related but can anyone tell me why tech areas are concentrated in so few areas?

i understand that industries creating physical product will geographically cluster due to human geographical concepts like competitive advantage, distance to resources, transportation, etc.

but in non-physical industries like software development, that doesn't really exist.

where is the advantage to having a startup in seattle versus, say, cedar rapids?

Boomers took that option off the table with immigration.

importing millions of shitskins to create fake equity in homes to promote spending is more important to globalists than affordable housing

Unfortunately poos, spics, and chinks are already buying up any available real estate even at shitty high prices because they can into pyramid ponzis. Then they just sit on it. No repairs, sometimes dont even rent them out. They just rot and the value goes up due to continued scarcity, just like back in India

why do you need to sell the house?

So the chinks dont have as much money to buy every other house on the market anymore?

Fuck off boomer. It's not our fault you tie your entire life to the value of your fucking house. God damnit you mother fuckers need to die.

>Bay area isn't bad, cities in general are bad
you have no idea how bad it is there bud
my brother pays 4500$ a month for a 2 bedroom

Silicon Valley companies took advantage of dirt cheap housing and commercial properties in the 90s. Then they imported millions of poos/chinks/spics to drive the prices up and create fake wealth from their initial investments. It's a population ponzi.

Seattle was dirt cheap in the 80s/90s and Gates took advantage of his home state's affordable real estate to establish his empire.

You need an educated population to pull from or you need to pay more. San Fran and Seattle are easy examples because you have many head quarters and people will eventually break off from the bigger tech companies to found their own. With this, why move? My programmer friends and networking contacts are here!

There's some blips though. North Dakota has a strong tech scene, but it's mich harder to recruit talent.

>businesses are there because the people are there, who start new businesses there to capitalize on the people there, who are only there because other companies are there, because that's where all the people are

sounds fucked

Shut the fuck up baby dick.
Housing market has been fucked since Clinton was in office. He unironically started this.

why not telecommute though

Lower home prices are a good thing, it means young white families can afford to buy

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>tight supply is the cause
>leftwing retard claims trump did it

Hm. So we have to gas the spics

look at this guy FUDing land

This was predicted 8 years ago.
The Boomer Housing Market Crash has been a long time coming.