Real estate in america

after seeing this $1M per BTC does not sound retarded anymore

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It's really out of control. I just bought a house out of sheer necessity (needed more space, rental prices are currently higher than mortgage + tax + insurance prices where I live). $500k plus needs maybe $5-10k of work. Fucking madness.

What city?

We're in a housing bubble. The banks are pumping up the market for their own benefit. Once interest rates collapse, so will housing prices. That's when they'll swoop in and buy up even more property.

Ask yourself propertycucks who like renting out slums, how high are people willing to pay for rent? Incomes aren't increasing at the same rate, it's only because people are willing to dump 80% of their income toward rent. This won't last long and once your neighbor sheckelstein finishes his condo complex next door and people start fleeing the inner cities will you start feeling the bern.

>Once interest rates collapse
It's the opposite though. Interests rates are increasing and when they reach like 8% nobody will be able to afford homes at these prices anymore.

Supply and demand do not drive housing market. That is debunked many times. Rent prices reflect net salaries and purchasing power, selling prices dont, they reflect mostly interest rates

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yeah if people who live in mofuckin C P T have huge access to credit it's just a matter of time until based carlos swindles their equity into the crypto market.

when they get divorced especially

Yes, this is what I meant.

Must be LA, SacTown, Oak, or San Friedciso. Definitely California though.

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4 bed, 3 bath in one of the biggest metropolitan areas in the world. I don’t see how this is that surprising. You should see the rent prices in New York and Moscow. Hell I never even saw houses in Moscow

Compton is in LA

He is also a nigger

it's in compton and abuts a massive warehouse

What's wrong with that price? The tag is probably even discounted. I've seen worse houses that costs $800k-$2mil and they didn't even have a second floor.

Yeah I'm sure most people would gladly pay half a million dollars to send their kids to these schools.

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Not in California. A 3 bedroom house can have 10 Mexicans living in it.

why would anyone live in a shit shack like this if he could sell it for half a million

1) real estate is at the end stage of a bubble

2) LA real estate is always going to be valuable because of it's proximity to the water, even houses in nigger town

3) investors are hoping that compton gets gentrified like Williamsburg in Brooklyn.

It's basically the same shit that the Jews did to the Germans after World War 1 and people wonder why the Holohoax happened?

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ok boomer. It's funny how wrong you've gotten it. The inner cities all over america are becoming gentrified. The suburb are eroding. Families in Compton can sell a shack for $500,000 and buy a newer 5 Bed 3 Bath with a pool for half the price, 2 hours from LA. The white flight of the 60's to 80's is being copied by the mexicans and blacks.

Commiefornia and jew york are not a representative of the average American real estate. In most places, you can get a good home for less than half that price.

The next real estate market crash will probably be globbal.

>supply and demand do not drive the housing market
>salaries and purchasing power don't draw people to an area which therefore drives up demand

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Good observation, you are correct and automatically smarter than many of the posters in this thread. This is the bay area, otherwise known as one of the most expensive areas in the world apart from nyc, london, iceland, vancouver, and sydney

>This is the bay area

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Checked and you're right, I made a mistake, it's not the bay. Greater Los Angeles area, exact same effect. Still a brainlet cherry picked example for a thread

Subprime crisis was global.

Most of america is shit though. No one wants to live in the middle. Iowa, Bama, Nebraska, Ohio. It's cheap because it sucks. Very little music, food, culture, good looking women, opportunities. Money goes to the desirable areas to live. Not surprised trumps base loves cheap trailers in backwoods. Let them stay in the middle of nowhere but the west coast should cut their funding to the fed. It just props up the bottom feeding red states. Corporate and political welfare fuck over Cali and the rest of the high tax states.

>Rent prices reflect net salaries and purchasing power, selling prices dont, they reflect mostly interest rates
that is demand and supply you fucking retard

Interest rates are >2% they can't "collapse"

this is great, never seen it thanks

yearly price of "owning" a home in Land of The Free™

>pay $20,000 mortgage
>pay $10,000 property tax
>pay $6,000 electricity/water
>pay $5,000 maintenance/repairs
>pay $4,000 HOA fees
>pay $3,000 home insurance
>pay $15,000 health insurance
>pay $10,000 student loans
>pay $10,000 pension you will never live to see
>miss a payment? go homeless

>be freedumb loving Texan
>own an overvalued home
>tax assessor is corrupt
>pay 2000 a month in property taxes for a home that should be close to 1000
>have many sleepless nights about what do
>be living paycheck to paycheck

I owe over 200k in student debt, im stuck making around 60k for the next 4 years.
>crapitalism still not abolished
just end my life senapi

>get assraped by mortgage
>get assraped by property taxes
>get assraped by speculative bubbles
>get assraped by demographic replacement of formerly white hoods
>get assraped by utilities
>get assraped by HOAs
>get assraped by contractors
>get assraped by student loans
>get assraped by health insurance

the crapitalist system makes the Soviet system look like utopia in comparison

>free housing, free education, free healthcare
>no mortgage
>no property tax
>no utility fees
>no bubbles
>no contractors
>no demographic replacement
>no HOAs

i want USSR back!

the issue with crapitalism is the crapitalist is preoccupied with offloading the burden of enslavement onto the next goy. the entire society is built on a pyramid of offloading enslavement onto someone else.

instead of having stable shelter with no risk, the crapitalist allocates risk into living necessities (shelter, food, etc) that is burdened onto the renter. the entire system is preoccupied by transferring risk to others.

the communist model does not allocate risk into living necessities (shelter etc..) and guarantees a stable shelter, food, and frees the population from preoccupation of risk and fear.

with the emancipation from preoccupation of risk allocation of the crapitalist system, the communist population focuses on solving space colonisation and real world issues, instead of the basic shelter issues

Capitalism =/= Free market

did you live in the soviet system?

Talk to anyone who lived under a communist regime see how great it was

I didn't even see the location. I just saw the picture and price. Seems about right.

More like the yearly price of being a white-collar wagecuck who just bought a McMansion.

USSR/Iron Curtain had no artificial risk allocation.

only the crapitalist system artificially allocates risk with yiddish tricks like: property tax, mortgages, utility bills, student loans, insurance fees, pension fees, rent fees

none of that existed in USSR

Yes, I did. Everything was free in communist Poland: government was giving flats for free, kindergarten were free of charge, mothers didn't have to work at all for 4 years after giving a birth, there was no unemployment, everybody had a job, even if he didn't want it, jobs were not only easy to get but light, not hard like today, people worked without stress, workers could even drink alcohol in workplace. That's why we had a lot of children, because we didn't have to care how to feed them, we didn't have to worry about losing job. Everything back then was so clean, smart and humanist, no degeneracy, no drugs, no emigration to the West, no prostitution, FUCK WE LITERALLY LOST PARADISE!

Fuck, dude, you must understand that soviet economy was completely isolated from western economy. It was not possible to translate value of our economy to dllar. The fact is that back then in communist Poland average Polish working class family had 3-5 children, now it is 1-2. Back then such family didnt have to worry about money , losing job or unemployment, there was no loans, no debts, no banks. Today people dont have more children because they cant afford them

Straight outta compton

>white
I was with a woman who grew up in the DDR, from Schmalkalden. We were together for a little over two years.

She said it was just fine. No poverty, no bread lines, everyone knew they had a place and future. She also fondly recalled how society was more involved, that your commie block neighbors would just invite you in for coffee at any time if needed something, or that schoolmates would check on eachother if they were having trouble getting to school on time, that sort of thing.

These people over extend themselves and then complain about $. If I made $60,000 a year I would be looking at cheaper homes.

My coworkers said it was amazing and only mentioned the good things about it. They were telling me that everyone had to work and those who wouldn't, they would be forced. The pay was shit, but they didn't mind it since they lived happily.
Funny thing is that Lithuania, like other Baltic countries, was the most richest country in the USSR.

>her grandmother obv lived most of her life in USSR
>says "everything was better in USSR
>streets were safe at night
>everyone got an education
>everyone had a job
>everyone got healthcare
>says she misses USSR and everything's shit now

Problem is commies never care to define what they view as "capitalism". They always point to stuff that government monopolies and intervention cause (healthcare is too expensive, medicine expensive etc.) and attribute it to capitalism. Capitalism traditionally meant the free market, but that is not what the communists describe. Rather, communists describe government favoritism as bad and wish to solve it with a larger government that has the power to exercise even more favoritism. So I agree with communists in the sense that government favoritism and authoritarianism is bad, but there's nothing bad about the free market.

>the communist model
>guarantees a stable shelter, food
Why would anyone produce stable shelter and food if he isn't getting paid for it and has to share it equally between every other citizen? There's no incentive to produce under communism. People produce stuff for personal gain, not out of the goodness of their heart.

>overpriced
except this common situation for metro areas where there are jobs.

I am in NJ and its the same fuckin thing throughout Cali, NYC, East coast, PNW, Texas etc...

crapitalists artificially allocate risk by creating laws that deprive others of access to necessities when no real or natural barriers exist.

a crapitalist sees a potato on a field and will create laws to prevent starving person from obtaining the potato. the person is now at risk of getting imprisoned if he violates these artificial laws that allocate risk where non exist.
crashes are artificial and happen when the oligarchs decide its time. no modern technological society can stop the supply of food or labor, but certain trade and financial policies and laws can make people unemployed, homeless, starving like much of the US
the supply of food, labor, and shelter is a constant in industrial society.

whether there is a crash or not, there will always be food, labor, and shelter for the entire population. the only thing that denies people access to this are laws and financial policies based on speculation and artificial risk allocation- thus creating "crash"/depression conditions

Problem is, there's fuck all in terms of decent cheap houses. All new construction in my metro area is "luxury" condos and McMansions crammed together. The cheapest ones are 400-500k. It's retarded.

>McMansion
no, i am in a shitty condo and its the same situation here in Boston.

that is because they cant afford anything else

you are not making any sense here. ofcourse downtown areas and such are preferred more so but the supply demand theory do not apply to housing market as people (like you) seem to think

no it is not. not anywhere close. majority of rentals are owned by major housing funds, pension funds, cities, government. it's not individual thinking rent vs buy

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>everyone had a job digging holes and filling them again
>but comrade there is no more space to dig holes
>not problem comrade, just take away their shovels and give them spoons

>a crapitalist sees a potato on a field and will create laws to prevent starving person from obtaining the potato
>create laws
Again, this is what a GOVERNMENT does. Not the free market. Stop with your intentionally vague wording and define capitalism for me. You seem to describe an authoritarian government, which I'm against as well. So I ask, are you against a 100% free market?

>whether there is a crash or not, there will always be food, labor, and shelter for the entire population
Nah, it needs to be produced. If there's no good incentive, people will only produce for themselves and those who can't produce get fucked.

sounds like capitalism

evonomics.com/why-capitalism-creates-pointless-jobs-david-graeber/

strikemag.org/bullshit-jobs/

>It’s as if someone were out there making up pointless jobs just for the sake of keeping us all working. And here, precisely, lies the mystery. In capitalism, this is exactly what is not supposed to happen. Sure, in the old inefficient socialist states like the Soviet Union, where employment was considered both a right and a sacred duty, the system made up as many jobs as they had to (this is why in Soviet department stores it took three clerks to sell a piece of meat). But, of course, this is the very sort of problem market competition is supposed to fix. According to economic theory, at least, the last thing a profit-seeking firm is going to do is shell out money to workers they don’t really need to employ. Still, somehow, it happens.

>While corporations may engage in ruthless downsizing, the layoffs and speed-ups invariably fall on that class of people who are actually making, moving, fixing and maintaining things; through some strange alchemy no one can quite explain, the number of salaried paper-pushers ultimately seems to expand, and more and more employees find themselves, not unlike Soviet workers actually, working 40 or even 50 hour weeks on paper, but effectively working 15 hours just as Keynes predicted, since the rest of their time is spent organising or attending motivational seminars, updating their facebook profiles or downloading TV box-sets.

Sheriff sales. Usually the people who got tossed will do some minor cosmetic damage and leave garbage everywhere but it's well worth it over half the time

You should read Coase's 'The Nature of the Firm' it explains why that happens, and you'll be able to see how outsourcing has been fixing that problem and how blockchain technology will fix it for good.

It’s called gentrification.

Typical smug liberalism. "No food, culture, good looking women, opportunities" - the only thing that matters there is opportunities, and there are fewer opportunities in non-liberal states, because liberal politicians (along with Pubs) have let the non-liberal states rot while they allowed the jobs to be sent overseas.

This party based snobbery is part of the problem - writing off half of a country, just because they didn't vote for a politician who doesn't give a flying fuck about you, just your vote, and helped wreck the economy and culture of this country in her quest for power and money.
And then you have the sheer gall - we're talking Jewish level of gall, to cry about CA being "fucked over", when the fucking has been done by the Democrats in Sacramento who have been burning the state down to the ground at every opportunity, on their watch. You know what would help CA? Repeal Prop 13. But oh no, we can't have THAT, then rich liberals would have to pay more property taxes, I know, we'll make up the deficit by taxing everything ELSE in the state, so rich, smug liberals can scrape by check to check in houses they can't afford anyway.
Most of America isn't "shit", either. That's the sniveling of a smug, pampered liberal. Most of America are average, boring people who just want to raise a family and maybe enjoy themselves once in a while. They don't need your "culture", or your "food", or your "good looking women" (who aren't, it's all makeup and plastic surgery and padded bras - and most of them aren't from CA, they move there from the states you shit on), they just want jobs, but there aren't any, because those jobs were given to niggers and pajeets and chinks, because "muh diversity".
Seriously, take your smug, shit liberal attitude and shove it up your ass, sideways. YOU are what's wrong with America, not some construction worker in mid-America.

Sure they can. They can even go negative. Learn to use Google, dummy.

I don't get why tech companies all crowd around SV where everything is super expensive, when their revenue stream is almost completely independent of location and there's no reason for them not to move somewhere cheaper.

>cheaper rent
>less tax
>can pay your workers half of what you pay in commiefornia and they can still live like kings
>pocket all differences as profit

thats where all the talent is

Funny when interest rates rose so did my house in California in the Bay area..

Because California has the best weather and a culture that a lot of skilled tech people like. You could move to a cheap location but your ability to recruit top tier talent would be handicapped.

Kek, imagine being this retarded.

>Be Californian
>Tax assessor isn't a fucking lying redneck so taxes are lower
>My property keeps going up in value

But all the people are only there because all the companies are there in the first place!
If you want to attract talent, just bump up salaries to the same level, people have feet and can move, especially if they are getting paid the same and houses are suddenly 500% cheaper.

Oh and besides, talent is a meme. What firms really want are hard workers who follow the rules.

when it comes to coding talent isnt a meme, it's a chicken/egg problem because the people are already there

You can live innadesert 50min north and have a comfy house.

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The only reason housing prices are expensive is because the federal reserve props up the price.

End the Fed.

/thread

Most of them don't, these days. "Silicon Valley" is just a catchphrase now for an industry that has spread across the entire bay, if not the state, and coast. Reno, for example, has a thriving start up culture, due to low commercial real estate and personal real estate costs, and it's relative closeness to the Bay Area. Kentucky also has a thriving startup culture, along with many other tax-friendly states. All you need now is access to high speed internet. Even in the Bay Area, the demo has shifted, there is more action in Oakland for startups locating there, than the real Silicon Valley, which is pretty much full at this point.

And, the reason why Silicon Valley is ground zero is 1/3 of the investment cash is there. You can find VC cash anywhere on the globe now, but Silicon Valley is where a lot of the rich fucks are who you need to kiss up to, to get the better funding. That demo is changing, too, as many of them are moving out, the "culture" of Silicon Valley is eroding fast.

Maybe you'd get shit more if you actually looked into it, instead of just running your mouth and being ignorant.

Ah, yeah, Palmdale, lets live among

Why do you brainlets blame the problems governments create on "capitalism" when it had nothing to do with it?

Kill yourself you fucking idiots.

You are the people that create these problems in the first place.

Some people don’t want to move to the absolute shit of places just for more money user. Weather, culture, infrastructure and all those things money can’t buy are important to people who make a lot of money already. You would probably have to pay a significant premium to attract people to live in underdeveloped parts of America.

No user, people want talent that can design new products and have inventive talent. Hard working and following rules are the norm.

California attracts tech because the infrastructure is there. The contacts, logistics and pool of talent allows them to share ideas. Weather is nice and they seem to like the culture.

>he doesn't understand value investing

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>david-graeber/
Isn't he some marxist faggot?

>What firms really want are hard workers who follow the rules.

No they don't. Companies are ran by people and people hire others based on a wide range of bias', most of them personal.

>550k for a fucking outhouse

lmao

thats enough to buy a tiny mansion here

Ah, yeah, Palmdale, lets live among meth heads, Mexicans, and cartel members. And have a 2 hour commute to any office location in LA proper.

Have you ever actually BEEN to LA? I'm betting you haven't, because only someone who's never been there would even think about commuting from Palmdale. And forget about doing anything IN Palmdale, you have a long drive to get anything done out there.

My best friend tried Palmdale a decade ago - he was able to build a house cheap out there, on 60 acres. Then it almost burned down twice from wildfires, broken into several times by meth heads and Mexicans, and was spending more than his truck payment in gas every month driving from downtown LA to his house, and MINIMUM 2 hours each way. He did two years of that, saved little to no money, and sold the place for 10k in profit. Talk to him about Palmdale, and get ready for a 2 hour rant on how bad Palmdale sucks.

If you're not a home schooler for your child you're a shit parent.

If by prestigious neighborhood you mean nigger filled ghetto, sure. At least the MS13 are doing the lords work and literally slaughtering niggers by the hundred of thousands in Compton and Watts.

Companies move to where the talent is, in silicon valley you have hundreds of thousands of talented workers, good luck having the same options in a flyover state.

see for more prestigious neighborhood

>What firms really want are hard workers who follow the rules.

LOL. You must be in high school. That's not what firms want, what they want is the most productivity and talent for the least amount of money. PERIOD.

You think I'm a hillary supporter. I'm not brain dead like your cuck ass. Conservatives are holding this country back. They want lower wages, more unplanned poor babies, they scream at illegals but never the companies that hire illegals, they want weed illegal, more prisons, more prisoners, more guns. USA #1 in guns, jails, and drug addicts. Yeah the law and order regimes started under Nixon and has lead to America's decline.

en.m.wikipedia.org/wiki/Business_cluster

>Most of America isn't "shit"
Most of America looks like this, which is objectively shit.

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>YOU ARE NOW ABOUT TO WITNESS THE STRENTF OF STREET KNOWLEDGE

>CA
>Multi billion dollar deficit
>Propping up anything other than its own spic population

Um no sweetie

I'm fully convinced all of you are high schoolers or NEETs who have never worked a day in your lives, with the utter bullshit you spew.

campaignlive.com/article/middle-america-emerging-startup-powerhouse/1443249

Silicon Valley is not where all startups are located now. It's only 1/3 of the VC investors, too. It's completely possible to do a startup, and find talent, outside of Silicon Valley. You'd know that if you'd ever been out in the real world.
It's why I don't take much posted here seriously - the vast majority of comments, especially in threads like this, are from little manlets who still leech off mommy and daddy, have never entered the real world, and just run your mouths based on how you think the world works. It's fucking hilarious to read your complete shit attitudes and ideas. It's going to be even funnier when your tender little sensibilities smack into the real world, when you're forced to finally get a job - and god forbid, support yourself, and do adult things like buy homes. Nah, I take that back, you're all future life-long renters.

this is literally 80% of towns in middle america. I like watching the show bar rescue because it looks like these bars are the saddest place in the world to drink, next to a Dotty's casino.

Blah blah blah, liberal. Funny how NONE of you supported Hillary, when she got 50% of the votes. Or more than 50%, as you brain dead assholes keep bleating.

And, see the word "cuck" - stopped reading. Opinion and comment worthless.

PS - I didn't vote for either of them, so keep your party politics bullshit to yourself, loser.

Cali has historically provided the lions share of revenue to the fed which then funnels it to red states. Seriously, what do you think Alabama makes, besides walmarts. I bet you're a fat inbred