Is there a market where you can “short” home values in Austin, Vegas and Denver?
Bernie Sanders: Gosh, I’m glad I bought all three of my mansions a long time ago. Grifting today can barely keep up.
Politics is a tough life now.
“My nephew became a CEO at age 23. He’s 25 now and owns 4 houses. So this article is wrong.”
“I bought my first house in 1980 and interest rates were 19%. It wasn’t easy, but I made it work. Young people today just need to pull up their boot straps.”
“If young people just stopped buying coffee at Starbucks, they could afford to buy a house.”
A lot of older people fail to grasp how much this country has been fundamentally changed.
Tell me about it. My rent is $1300/month. A $350k house (cheapest in my area) is $2500/month for mortgage with 20% down!
It’s conpletely financially unfeasible for me to buy a house at that rate!
I read somewhere that it’s a wash between buying and renting. The trick is to put what you save by renting into a solid stock index fund. Unfortunately, most renters don’t do that.
As for me, I bought. When I sit on my back porch, I don’t want any idiots within earshot. But that’s just me.
We’ve seen the top in terms of housing prices, I think. My house in TN sold for $350K - 6 months ago, I’d have probably gotten $380-390K for it.
But it still sold reasonably fast. Very good agent there BTW - she was very candid in what was going on in the market. But you could see the price changes over that time frame on comparables.
I think that deleting a few million ILLEGALS will help things out a good deal because will free up some property for Americans, and take away the upward pressure on housing in general.
If you can only scrape up 5% down, you can't afford that house. And I realize that means that with the investment bankers buying up inventory, and refugees from California running up house prices, many folks can't afford to buy a decent house in this market.
Parents bought first home for $19,000 in 1964 in a “newer” suburb. Now it is “worth” $400,000. I guess it may be my age, but that seems high, as does most everything to me now.
When I was a 8 yar old kid, my step-father took me to job sites to save on babysitting costs.
I built a house for my daughter.
You know what the real cost problem is?
It is all politics.
Democrats cannot stand to have people independent
of their rule!
Material wise, a single family house is cheap, till all the
Political BS comes into play.
So you won’t stop reading,
I have two large houses, a large workshop, and acreage in Hawaii cheaper than a dumpy house in Sacramento costs!
I’m retired! I built most everything I have.
Despite living in a single party Democrat state.
Thank you Blackrock!!!!
But cheer up folks!
One of these days, in the not too distant future, when companies like Blackrock, Vanguard and other corporate behemoths (and the governments) own nearly all the homes and apartments, the rents will become just as prohibitively expensive as ownership.
“You vill own nothing and you vill be happy”. We were told this, I don’t know what people expect. It’s not like Americans will sell their home below the maximum bidder to make sure it will end up in the hands of a young family.
probably cheaper to stay at a extended stay suite.
“National” housing figures should be avoided. Housing is local and local factors affect housing greatly.
And there are U.S. housing markets where it is cheaper to buy than to rent.
https://constructioncoverage.com/research/cities-where-its-cheaper-to-buy-vs-rent
Interesting statistics. Not sure how to take them... here in NW Arkansas - the MEDIAN home price is right at $500K+. The closest one might have to a “starter” home is right at $190k. That house would cost you, including required taxes and property insurance included in your escrow, of some $1400-15000/month. The exact same home would rent for $1800/month.
So...
Note the chart shows high home prices from 2004 to 2007. I remember home prices shooting up to $300K and $400K back then, right before the bubble burst.
Once interest rates are lowered, more homes will be on the market and prices will be drop significantly. This is why President Trump wants Jerome Powell to cut interest rates.
In Minnesota you are seeing homes that 3 years before have the price then today. It must be those companies buying up 10’s of thousands of homes outbidding single buyers. They then rent the homes to people you are priced out of owning one. In Minnesota you can buy a home that is 3 times the square footage then in California with a big yard.
You can see how prices has risen to astronomical heights in Southern California. These homes tend to be single story, no basement, 6ft wall on 1/4 acre lot.
Median Home Sales Prices Southern California
Existing Single-Family Homes by County, 1990-2025
https://www.laalmanac.com/economy/ec37.php
thanks to illegal immigration and groups like Blackrock and foreign entities buying up land and houses, often for the purpose of turning them into rentals.
But there are still people out there who refuse to sell to anyone who is not going to live in their house themselves. My sister decided to do that with a property she inherited and sold and God provided my daughter a seller who thought that way for her house. Which she got despite being out bid for the very reason she was going to live in it.
Same thing with foreign buyers. No American real estate for you!
Then cap the number of houses a landlord can own for rentals, B and B, etc.
Enact it and watch housing prices come down and inventories go up.
Interest rates by then will be coming down too, likewise incomes going up.