ANNONS THE 2.0 HOUSING BUBBLE HAS BEGUN!!

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.

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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.

> CA

Dis
Gusting

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
>ID: unonesty

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
>in cash
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?

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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

oy veyyyyyyy

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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.

-zillow

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.

>Camino, CA
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.

/thread
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.
Civil war
>80 years later
WWII
>80 years later
Today

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?

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>Camino

gross

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.

Chinese?

Seems cozy, user. Also boring af but if that's what you're into then it's perfect.

Shh.
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

Except no

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.

>Cause reasons

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
holy shit

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.