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Housing market be like

"You must make 3 times the amount to live in this piece of garbage that costs twice what it's worth which nobody earning that much would want to live in" 🫠

I'm cool where I am but that's enough for today..
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HoeBag · 46-50, F
Oh so that wasn't just me who thought that.

I have noticed that even these investors have been sending out less letters saying "We want to buy your house". Maybe even They have given up.

They keep talking about housing shortages but we know that is bull. I live in a major city and every time I turn around, they are building more apartment complexes and house. WHERE is this "shortage"?

Here is just one chart showing the differences between annual income and average home prices over about 40 years.

Mordechai · 31-35, M
@HoeBag One problem is people and companies, national and international are buying them to rent out, and the older buyers out compete the younger buyers in time and money, so it keeps inflating the prices and creating shortages.

Secondly, contractors would rather take on larger projects for more time/profit ratio so it's not as appealing. It's basically a crisis created by the private sector because there aren't any or enough limits and controls on who can have what, and by constantly appeasing the market the crisis worsens as it's pouring gasoline on a raging bonfire.

That's how I see it anyhow
HoeBag · 46-50, F
@Mordechai People dream of owning a house, but one advantage of renting is one is not responsible for major repairs, plus when the neighborhood eventually goes to cr4p (like they always do), it is easier and faster to up and move.

I know that is a bit off subject but anyways...

Thing is, rent or buy, these companies can charge only so much before no one would be able to afford it. Pricing themselves out of the market.

I know in our 30's we feel like we should be living up to this "american dream" but that just does not happen for too many of us. Even the ones who DO manage it will often see it fall apart.
Because of divorce, having one's job become obsolete, or the riff raff slowly takes over the neighborhood.

Yeah by age 30, we think we should have a massive financial portfolio, be a partner in the company, own several houses, etc. False dreams.