Been here before.
Posted on 06/05/2022 5:16:45 PM PDT by blam
You will own nothing, but you’ll be happy!
As prices go up people limit spending to what they need most. Like food. The liars who fix a value to inflation cherry pick the items that go up in price in order to minimize the actual number. We all know just how much food prices have gone up and it’s definitely more that 10% a year.
That will not happen for many.
If you remember what happened after the 2008/09 crash, a lot of people were allowed to keep houses they couldn’t afford.
Dems/libs/community organizers(obama - ACORN) forced banks to make bad loans. Many of those very high risk loans were written down to an amount the high risk borrower could afford. They got to keep the house and pay a lot less than market value. In other words, another “redistribution of wealth.”
Been here before.
Stole this mug🤣
81 quintillion people chose between a roof over their head or a cessation of mean tweets. They chose poorly.
And you’ll eat bugs ‘n’ s***!
Nice.
Being priced out of a house will not drive you to homelessness. That’s a gross exaggeration. If you fall short of being able to buy a house, you are still doing pretty well and can rent.
The people in homeless camps were never potential home buyers. Almost all of them are unemployed, unemployable, mentally ill or on drugs...or all three.
The value of my little inner-city condo, which I own outright, has skyrocketed to a such a ridiculous degree that I am considering selling it, pocketing the cash in gold, and living in a tent until the prices crash into the depths of 2010. Then I’ll buy four houses.
The plan is to price everything beyond he reach of regular families, then step in and offer “free whatever” from uncle sugar = instant socialism.
hedge funds will swoop in for the houses and we will go back to feudal times. The haves and have-nots.
These homes will then be part of the ghetto in 5-10 years. To combat this some suburbs are charging extra fees on rental houses vs. single or family-owned ones.
You will own nothing and Klaus Schwab will be happy.
I'll say right now - that will not happen. The demand for physical assets over paper and for US real estate over almost any other asset class from foreign buyers virtually guarantees that prices will be significantly higher in inflating US dollars five years from now, whatever short-term gyrations the market goes through.
What people miss is that real estate can "crash" in value relative to commodities, gold, or other real assets but still go up in price as measured in rapidly inflating US dollars. You might still be somewhat better off selling and holding the gold, but the difference won't be as stark as it is for those who, say, hold cash or stocks.
Home buyers waiting for prices to track lower along with sales may find they are waiting around for a while. This could change IF the government enforces price controls on home costs. Granted, that is highly unlikely.
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Price controls on home costs would be a catastrophically stupid decision. It would result in reduced supply.
It’s hard to have a productive discussion about the increasing cost of housing, without confronting the artificial increase in demand brought on by millions more people coming into the American market every year through legal and illegal immigration. They live somewhere...and many times it’s the government that is paying the rent and making available housing more scarce.
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