2008.....2019 How come the banks always get to fuck with people and make everything expensive by giving out loans? Everything that banks can give out loans for cost way too much.. and everything they can't is always reasonable. Stupid monthly payment slaves.
ANNONS THE 2.0 HOUSING BUBBLE HAS BEGUN!!
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Most people take 300k loans while earning 30k - 40k a year. That's stupid. Taking loans in general isn't. Listen to Dave Ramsey.
So this is what people mean when they say they have a business flipping houses after pulling their life together lmao
they're litterally used houses
how the fuck in the world do they get more expensive over time?
why do normies fall for this shit..
obvious slide thread
kek is real
I put a house on the market August first and closed last monday. Sold for $210, listed for $190. Cash buyer.
something is only worth what someone else is willing to pay for it. I already sold a couple months ago.
Not bad for bait
The ground get's more expensive. The cost to tear it down and replace it gets more expensive. There are millions more people every year.
be your own bank. buy bitcoin. let the banks burn to the ground this time around
I'm about to be in the market for a house very soon and this is making me strongly consider building new instead of trying to outbid others.
I don't know where you are all living, there are only a few places where housing prices are ridiculous. The pictured houses cost about 50k anywhere else.
paid 20k more than list price
You better spend that shit quick, that's dirty money.
it's the land
The pictured houses cost about 50k anywhere else.
Why lie here?
Is this actually expensive?
Depends on the house's condition. On the surface, no it's not expensive, especially for California. I'm not sure where Camino is relative to LA and SF though.
For that shithole location, yeah.
He's probably not lying
The ground get's more expensive.
That's right goy. You must always give more shekels to use ground.
The housing bubble isn't going to pop until the Federal government goes after illegal immigrants. Once that happens, banks won't be able to collect on home loans due to illegal immigrants bailing and rent for apartments will plummet due to tenants ghosting.
Wait, house prices gonna crash? When?
Yeah! Same thing with insurance! Get a loan for school? Oops, school cost 20x as much now. Get insurance for doctor? Oops doctor cost 20x as much now.
Fucks with the free market. Gambling schemes like usurious banking and insurance should be out lawed.
800 sq ft
That could be a comfy little bachelors/retirement shack, still overpriced as fuck though unless there's lot's of adjacent land, which there really isn't. I hate the tiny house shit but really want to go in on a modest home to retire in and make a perfect retreat in my old age.
Car insurance is the biggest scam in the fucking world.
oy driving without insurance there five hundred dollar fine, loicense revoked
insurance for 2015+ cars and or new drivers ranges in the 300s and UP
Because Obama gave away America's housing stock for pennies to Steven Schwarzman - Skull and bones and CEO of Blackstone. They were sold our foreclosed homes for practically nothing so they could turn around and raise rent to ungodly levels. At the same time Obama opened the borders of America to millions and millions of foreigners a year to buy up our homes. In addition he let the chinese buy up our homes so they could hide their wealth from mother China.
Go back and do some research on 2009 -2010 when Fannie and Freddie bundled up all our foreclosed homes and gave them away to a few select hedge funds.
ALMOST AS IF ON PURPOSE.
i always watch property prices. here's my 2 cents
Prices did not increase over the past year in CA. That's a huge hit as it's increased every year since 2008
I'm seeing housing near me start to drop. 5K here 10K there. And this is supposed to be peak season.
If you've got cash, hold onto it. There will be some bargains in about two years time.
That you never own......?
Other coast in jew jersey and we're still bumping but we're in a unique situation where being a property owner here is shit because taxes but there's nowhere but up for the next 20 years +. Boomer kids in NJ will be filthy rich.
Show me the wave of foreclosures in one of the big three metros. It's no secret that the state government's economic policy has basically left everything outside of them to rot.
If you buy property as an investment, you're going to get screwed. If you buy to live in it, then housing prices don't matter. Only thing that matters are interest rates. I have a house in CA worth $450k and I owe $180k, which is just under 4 years for me, paying ~4k/month. Turned a 30 year loan into a 15, and then turned the 15 into an 9.
just by a house in sonoma county and grow weed for dispensaries. Shit pays itself.
My good friend did this. His annual household income is about $25k-30k, but got a loan through FHA (which is basically gibs for housing) for 150k for an ugly ass 1900 sq/ft house on half an acre. He is literally 4 months late on payment and about to default. You're right Hans, this is the same subprime shit that was going on in 2007.
You can make $46k off of an average yield from 6 plants
I'm a Christ-bro, so I can't do that, but damn man. That's pretty obscene. With 6 plants/residence you could buy a bunch of shanty's up in bum fuck willows, spend 5 years legally slanging it and walk away with a small fortune and property to boot.
Wagies who want to buy a house with 50K salaries in California are just locking themselves into many many years of financially crippling themselves. Literally no breathing room for financial play. Sad really.
Honestly, we'll see what happens.
What are your plans anons, if the economy goes bust and the housing market crashes as well.
broke ass nigga
Define a country
80 years later
War of independence
80 years later.
80 years later
80 years later
Your Lord Jesus prepares a mansion in heaven for you.
We need the stock market and the housing market to crash and shake out all the fraud, corruption and easy money by networking connections and start over. Thats what 2008 should have done but the Cabal planned 2008 to extract what was left of any middle class and they did a great job.
The stock market from 8000 to 26000 is and was all based on QE funny money. QE was divided up by the Cabal with half going to Wall Street and the other half going to Northern California only. The rest of us were left with nothing.
Anyone with an advanced Finance degree and was smart did not get back in the market after it crashed. The market needed a couple years to settle and build back confidence in the middle class.
Did not happen. The only growth since 2008 was from legal and illegal immigrants.
That's all folks. Oh yea. All the stimulus money went to the legal and illegal immigrants also. There was nothing put out for middle class white Americans whose ancestors sailed over on the Mayflower.
Do you guys think this is secluded enough?
I’m actually anticipating a crash. Got some disposable income. Hoping to buy a condo in the city or a nice vacation home in FL.
;anyone everbuy a foreclosed home? seems dangerous, like what if the resentful previous residents want revenge and take it out on you? like they come back and vandalize or burn your house down because they are spiteful
People pay it. Supply and demand. Go take the money you use for a VPN and sign up for an economics class, your ignorance is glaring.
Taking on debt on the premise that you're going to be able to pay it off if nothing happens is smart because nothing ever goes wrong and you'll be in tip-top health 24/7
Taking on debt in our current society is suicide.
What if you go outside and die? Jesus fucking christ take a chance you wuss.
Not living a to a higher standard because you're afraid something might go wrong
Kek, you only live once user.
That place looks riddled with ghosts
You can't even get a loan for 300k if you only make 40k a year.
source: Used to be a loan officer
You make a valid point but your ID tells me otherwise.
Seems cozy, user. Also boring af but if that's what you're into then it's perfect.
Don't be scared.
Its just reality.
Like 4 generations have started lives and died in there.
Generally losing an actual home happens to those already well off enough to even purchase one even on (((loans))) it's not niggers getting outed from their slum hole. Also once they lose their home they usually have to move away because they lost the ability to afford living in the area and have other shit to deal with than killing your faggot ass.
Housing crashes are unironically a good thing
Fuck boomers who think that after passing every social program they could to fund their shitty lifestyles that their retirement should be funded from a house
Need to show proof of insurance in order to register vehicle and get plates
illegal to drive without insurance
when purchasing insurance, must also purchase insurance against non-insured drivers
How can anybody drive without insurance yet I have to pay to be insured against the non-insured drivers?
Need more info Goyim. Do you have enough diversity or shall we arrange for some to be flushed your way.
I can only pray to it bursts. Maybe the boomers are finally realizing "hmmm. Millennials arent buying my 330k house. Maybe I should lower the price."
Nahhh. Boomers are too stupid.
If you're talking about a mortgage, you could be qualified for a 300k loan making 30-40k / yr if you had 20% down on what would have to be a $375,000 house.
they dont have to as long as we allow the chinks from the communist party in china keep buying our houses for investment and money hiding purposes
This, just saving shekles till the next crash, then maybe I'll buy a house and a few income properties.
The ground doesn't appreciate that much - otherwise the most fertile Midwest soil would be more expensive than Manhattan. It's not.
But they are, it's happening now and there's not enough inventory to keep up.
Absolutely this. I remember in the last crash, those people were coming in, checking out the houses and buying them for cash. One of the biggest transfers of wealth out of this country in history.
just buy a house in detroit if you want one so bad
You're both full of shit.
All things in life are equal
Sometimes I wish it were that easy
California is a big state...
its infuriating, foreigner non citizens should not be allowed to buy residential homes
Middle of nowhere California. Probably has mold.
Also in the middle of nowhere, and will probably burn up in a couple years.
Never said that.
What you guys don't get is the 2008 crash wiped out more than half of what you kids call boomers.
Remember 84% of the stock market is owned by the top 10%.
Most boomers got out of the stock market and any reasonable person in 2008 2009 knew it was too risky to get back in.
Only Wall Street and Skull and Bones connected Harvard Grads got money from credit lines from Deutsche Bank to get back in the market.
We all should be praying for a crash to wipe out the deep state, cabal, connected harvard grads .
We want the funny money created since 2008 to disappear.
What you all seem to be missing is 2008 and the QE afterwards as well as giving America's housing stock away to foreigners and hedge funds was on purpose. Pour millions of illegals on top and it is obvious it was to wipe out what was left of good America.
Just work hard and be nice. Save your cash and lets get through 2024 and hope that Trump is really draining the swamp.
Our time will come.. Be patient..
Jow Forums gentrifies the city of detroit
can we meme it? get the whole board behind the cause? we could all afford those shitty $20k houses adn could even go halfsies or split the cost between multiple anons who want roommates. we could transform the ghettos overnight
There's no reason someone making $25-30k/yr shouldn't be able to pay off a $150,000 loan in 30 years. The payment is $709/mo, that's less than many peoples rent. Plus with all the gibs at that tax bracket he has no excuse for being 4 months late. His friend is just a piece of shit and probably as much of an idiot as you for calling bullshit on a very plausible story.
If anything at all they should ONLY be able to buy residential homes, not investment properties.
You wrote "the ground doesn't appreciate that much" otherwise land in bum fuck nowhere would be worth more than Manhattan. With that logic, all land is equal and it's not.
Solid argument, faggot.
What? If it crashes the banks get bailed out, and the home owners get screwed by the banks. The prices go down, and the rich buy up everything for pennies on the dollar and flip or hold them until they go up again. This is the dumbest shit I've heard regarding housing market on this site.
Bought a few over the years. Good neighborhoods. One I bought at auction for about $60K less than market value. Divorce/bankruptcy. House was in good shape, good furnace, water tank, roof, windows, concrete. Put in new carpet and had the rooms painted. Flipped 3 months later for $15K above market value. I consider this my best flip and consider myself extremely lucky! My other purchases were older homes where the owner died or was put in a nursing home and needed a lot of work. Most of those I fixed up and are renting out.
)))refugees((( from hong kong will buy them all and be your new landlord
Or a heavy tariff, like 50% to make up for it. Then when Chinas economy tanks and they can't pay the property tax they'll have to sell it on the cheap, the US keeps the tax profit from the tariff.
You're literally retarded. Go take a basic economics class.
I'm too lazy to google Camino Commiefornia. How close it is to a major city like Los Angeles, San Diego or that faggot city?
Good on you user, wise moves.
You know damn well trump wont be re-elected. But if he does, it'll be quite another massive hilarious spectacle
Those who take out loans they can't afford are stupid. Don't blame the banks.
If it's under $750,000 in California, it's garbage.
actually thats a great idea. a tariff on residential home purchases would be pretty one sided, wouldnt hurt our economy much and would greatly stabilize and protect residential housing prices for the middle class
Big city with job opportunities. Houses in rural areas have value that is actually the utilitarian value of house and the land it built upon. If there is no job opportunities close by it is rather worthless.
imagine buying a cardboard house for 200k
loan issued for $261K
$301K unpaid balance
That's not my argument either. In fact, it's the opposite of my argument. My point is that the massive yearly increases in the cost of housing have little to do with the ground beneath it. Unimproved, highly fertile land does not appreciate nearly as much as housing in NYC or San Francisco or housing even in the same area.
how old are you? you must have saved up a lot to do that, im guessing you are way past your 20s
my entire city is 8 streets. You're close but you can get more secluded
It would have to be high, like i mentioned 50%, cause the appreciation of the homes would be worth the tax if it were something weak like 10%.
Listen to Dave Ramsey.
Only faggot boomers with credit card debt listen to Dave Ramsey.
Pic related is where the magic happens
all the boomers fucking rent their property out. they make a killing it's insane
best time to buy is during a recession, if you have the cash. Same with stocks, blue chip only, buy brands you absolutely know the world can’t live without. Batten down the hatches because it’s coming.
Youre forgetting all the other shit we have to pay for. 25k-30k means you're really only making between $10-$15 an hour if you're worked 8 hours a day 5 days a week before taxes. $709 is a shit load to pay each month. Depending on how many people live with you especially. Food adds up alot, electricity, insurance, internet, rent, etc. You'd have to be making pretty sweet money to pay that each month and still have money left over for what you want.
joke's on them I'm homeless
They all do it now too, the idea shouldn't be to buy your dream home as soon as you feasibly can and live nigger tier poor but with a home for the next 30 years. You're supposed to buy a cheaper home just to escape renting and actually own something in the next decade and either sell it to move up for much cheaper with the capital or if you're doing well enough savings wise turn the old home into a rental and use it to pay for the bigger home.
He's either retarded, or salty because no bank will loan him anything with his sub 500 FICO. Probably both.
I made it work on $15/hr paying $750 rent for years until I started moving up in life.
u wot m8?
What if I told you there are towns with everything you need without these densely packed neighborhoods? Imagine a world where you would have to drive to see your nearest neighbor.
its like 10 hours north of los angeles. its closer to sacramento on the way to lake tahoe
I wish this would happen, I live in southern CA and they are CONSTANTLY building new apartments around here. Packing in more and more brown people in an already overpopulated place.
Already happened right in front of us since 2008. Nobody who lived through 2008 and lost a home or lost money in the stock market risked it again to this point. ONly people to dumb or people who forgot and think "this time it is different" are in any market today.
It has to crash. Most Americans have not recovered since 2008. What you see is all fake Northern CA crap and Wall Street.
A german bank Deutsche Bank got bailed out in 2008.
They give Blackstone a billions in credit line via QE- US Federal Reserve. Obama's Fannie and Freddie package our foreclosed homes and sell them to BLackstone for pennies in 2009 and 2010.
Of course Obama and Blackstone know Obama is going to flood America with non-americans the next 8 years so Blackstone knew there was no risk. (skull and bones -- john kerry bush's and Schwarzman-Blackstone).
They raise the price of rent higher than Americans can afford. Why? Our homes were our stability.. How did our government giveaways thousands of our homes so Schwarzman could make another billions dollars a year himself. Was Obama stupid? Or was it done on purpose.
For all finance grads at no time were we taught about QE. It was a made up tool by Bernake under the disguise of keeping the market from crashing. It is so obvious that this was done on purpose you can find plenty of papers attesting to this fact.
Did you live on your own? I can see it working if that were the case.
Trump needs to stop this fast. It is literally killing Americans in so many ways.
lake tahoe is amazing would love to live there
No I had a roomate, the rent was $1300. I had the master bedroom so I paid more.
What if they began making homes rent-to-own? Would that help the housing market? Though the rent would likely still be outrageous.
they're litterally used houses
absolutely top-tier bait
Ah, I see. Blue collar work?
Buildings have to meet certain standards when sold, so a 30 year old building with new appliances and roof is only marginally worse for wear than a new one.
Plus the dollar has 40% less value, meaning a 200k home now was 120k then.
Also property values can raise when property tax rates go down
That's a pretty common thing already.
I have an advanced degree in Finance. What part do you disagree with?
Their plan is to make people get loans for houses they cant afford in the long run? Basically get a house out of your budget and make payments and then when you inevitably fail to make payments they take the house and keep the money you paid on it?
Get load for big ass house
Make big ass methlab
stash the cash for when you finally get busted
house is now worthless
get out of jail
buy old meth house from seething bank for pennies on the dollar
use stashed money to renovate it and live comfortably
I don't know, it was an LLC, but it wasn't like Lucky Dragon LLC or something, they're also a property management company so I assume it will be a rental.
Why? People who aren't rich do these things all the time. There are all sorts of loans and strategies to the real estate market. Most people involved make a median income.
When Wall Street Is Your Landlord
With help from the federal government, institutional investors became major players in the rental market. They promised to return profits to their investors and convenience to their tenants. Investors are happy. Tenants are not.
city bought the building in which I rented a flat to put muh fugees in
So true its not even funny.
Rent to own is the biggest scam in the rental business. Just something people do when they can't offload their shitty rental property and they he haw back and forth about an option fee. 100% lopsided deal.
Sort of, stone masonry but I was on the office side of it mostly. I wore a lot of hats.
Blackstone's $9.6 Billion Bet On The U.S. Housing Recovery Files To Go Public
That's fucking disgusting.
psst it's all rothschildean blackrock
Hell yeah, I can get a house or two on the cheap, rent one out, and become a NEET in the other. The only people seething over this are boomers mad that their overpriced shit is falling in price.
watching too much breaking bad
Dumbest post in the thread, congrats
b..b..but Jesse did it, not so dumb now huh?!
things that never happened
such is life living in an occupied genocide-zone
Brainlet here, how long do you think we're going to have to wait for the next crash? I'm fucking sick of seeing all these boomers expecting $250k for their 200 year old shitshack they bought for $2 and a stick of gum. I want it to happen before they all die. I want them to suffer.
I hope you're right, cuz I'm looking to buy a place but not at these awful prices. Hopefully they halve
The only place you should be directed your hate is the "Cabal" .. The connected and the ones who are selling their souls to the devil.
You guys direct too much blame on boomers. Only a few lucky boomers are doing better today then they were 10 years ago.
The only way to get rich is selling yourself to the "Deep State".
Everything is setup for you to fail unless you are connected to the east coast elites or snotty nose Northern Ca brats.
Yes, it is just as I said. It's not about fertility or the ground, it's about demand, population density, zoning and use, among other factors.
What would happen if you threw away your id and said your name is ahmed and you're from a war zone, and try to sign up for all the handouts? Could they stop you?
idk what they could do to stop me
but someone already tried kek
You're definitely wise to point that out. I work on these shitty houses for a living. At least I used to.
Anyway, our country literally had to sit back and watch our tax payer dollars bail out the banks, that have literally been making bank off our interest, on top of everything else, because they somehow mismanaged the entire country's wealth into the recession.
What made everything worse, people were forced to foreclose on the inflated houses they owned, which we're required to pay-off the interest before anything carries over to the principle. On top of a job market that was falling out from under our feet. There were whole population shuffles amidst this, as well.
The interesting thing to note is that the banks owned the properties of the foreclosed houses. And during the swap, they were essentially writing off the bad loans, while maintaining ownership, and even buying up other houses. Not even a decade later the housing market suddenly inflated back up again, even worse than before, and again we are just waiting for another burst.
Meanwhile, the inner cities were more of long-term "project". Whereby, some experienced decades of crime, poverty, corrupt politicians, mismanaged funds, etc. There were huge chunks of property in major us cities being sold for pennies. This is were we really see the big shot foreign investors.
Just kind of speaking from what I've seen around me.
Honestly, this seems like a Jow Forums "prank."
I wonder what would happen if many German's started pretending to be refugees and people encouraging to do it in order to recieve benefits.
What would be the German's government response? Lower gibs? Increase raxes?Adding jail time to Germans who abuse the welfare system?
this is the way it's always been so it should never change
Actually, no, people don't pay it, that's why banks own the most real estate in the country now and are just sitting on it all. You're a brainlet and in typical righty fashion, your arrogance blinds you from your stupidity.
Midwestern farmland is cheap
Motherfucker, where the hell is it cheap? I live in the asscrack of Nebraska where it's so fucking dry that according to precipitation we're classified as a desert, and "farmland" around here goes for 4-5k per acre. That's not Manhattan expensive, but it damn sure ain't cheap
not possible anymore, earlier the guy could do it since most fugees were syrians, that's easier to sell as a white guy
today it's just sub saharan niggers
Trump is going to stop brown hordes flooding the US
Keep dreaming, at the very best he'll replace millions of brown illegals with millions of brown legals. Getting BLACKED no matter what
what did kek mean by this??
Yeah, too bad they're already selling TF out to corporations in some states, to set up major manufacturing facilities (1,500 plants) while continuing to "crack down" on independent "illegal" growers who were trying to abide by whatever vague laws that were purposely obscured during the "transitionary periods" to allow to continue prosecuting virtually anyone they chose along the way. It's amazing how they let all the little guys take all the hits, while basically figuring out the best techniques for the companies to use, when they swept in and took over the market via "state regulations".
Literally, I was sentenced to 90 days in jail, and fined thousands, for less than a half of a joint, in a case where they tried to charge me with "distribution" for said half-smoked joint, by a county that now has one of the largest facilities in the state.
That's just one case. Even though I used mainly for medical reasons, I was labelled as "habitual offender" after my second or third possession charge no less than five years before the state finally voted on said "medicinal marijuana". If you added all 6 or 7 of my charges up, the total weight would have been about 5% of what is now considered the "legal limit" to carry. I have yet to receive any apology, and they're still bumbling the laws as long as possible so they can avoid taking responsibility for what they did to folks like me.
It's actually a shithole. That place would barely sell for 75k in my area.
shitty $20k houses
Hahaha. They're actually cheaper than you think...
No joke. But you're in for a headache. If power lines 6 feet off the ground holding up fallen limbs in a neighborhood that the power companies refuse to service in a city where no one bothered to educate a single person properly for the last 30+ years is your thing, then by all means.., welcome to the D!
Some areas are getting "developed", but if you think this is an overnight project, you better bring some bulldozers. Just so you don't hold me liable, there is a good chance that dozer gonna get gaffled, yo.
sadly, in Germany the bubble is nowhere near bursting. Only rural areas are affordable. Even smaller towns within the reach of larger cities are as expensive as the larger cities. I want to buy something, but it's just not worth it currently.
how many 1930 craftsman houses are they making these days?
Needing to pay rent for your own land is wrong, especially when the government does absolutely nothing for it.
bitch somewhere else simpleton
This is nog logic and subsequently the same pervasive logic behind student loan forgiveness.
Dumb person took dumb loan they couldnt reasonably pay back? Its the banks fault! XD
Shipping container houses would be more affordable
Tiny-housing is a meme to make poverty conditions sound more appealing to the newer generation.