I wonder why houses keep getting more expensive.
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A few people did. One local contractor was sitting on a pile of cash and straight bought a ton of properties in the area. Then had his crews do what ever touch ups needed done.
He beat me to the punch on a 4br, 2.5 bath place that was beautiful, at 45k. He was in the office signing papers on it with my realtor when I called to say “Buy It!”.
You rang?
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Rentals aren’t new. It’s because GenZ won’t work for them so builders aren’t enticed to build them, existing homes become scarce commodities and supply & demand kicks in.
Wow, you sure do understand the real estate market and macroeconomics.
A question though:
What happens if the only people who can afford homes, buy them and rent them out - and will only sell for a profit? Do you think that affects the cost of houses any?
If you’re stuck paying rent (which is more expensive than a mortgage), it sure does become difficult to save up enough to buy these houses…
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In a different life, I be a contractor doing pipeline work in any of the various shale plays.
Of course, I’d also have been a gonner having a widowmaker in east jabumbfuck. So I guess this life is just going to have to be good enough. 
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A return of the nuclear family would help.
People did used to do that, even at like 14-15 people in a household.
This is normal in california.
I have a friend who owns a 1400sq ft house. It’s valued at 1.2mil
Luckily for him, he bought it after the 08 housing crisis.
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Those numbers give me shivers.
I was out around Seaside/Monterrey about 30 years ago looking at places. Little ones were like 6-800k!
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Long Island - three generations living in a single story home. Adult married kids in the basement, parents on the main floor, grandparents on the third floor.
A buddy of mine inherited a house in the early nineties in Palo Alto, appraised at $367K. Spent $150K adding a second floor and sold in in the late 2000’s for $1.65M. Currently valued at $3.8M.
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It is not that.
It is from quasi-polygamy, unrestrained hypergamy, and the near abolishment of marriage.
In “sexual liberation” many women gun for the top of the heap or do not have sex at all.
The Sexual Revolution promised more sex available for men. It did not. It made less sex available for most men and more for high status men and resulted in quasi-polygamy (not actual polygamy involving marriage).
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To continue, a pertinent quote from Sexual Utopia in Power:
“Marriage is an institution; it places artificial limits on women’s choices. To repeat: nature dictates that males display and females choose. Monogamy artificially strengthens the male’s position by insisting that (1) each female must choose a different male; and (2) each female must stick to her choice. Monogamy entails that highly attractive men are removed from the mating pool early, usually by the most attractive women. The next women are compelled to choose a less attractive mate if they wish to mate at all. Even the last and least of the females can, however, find a mate: for every girl there is a boy. Abolishing marriage only strengthens the naturally stronger: it strengthens the female at the expense of the male and the attractive at the expense of the unattractive.“
That, in a nutshell is the cause of mass inceldom.
Sexual liberation stirs up enormous resentment and envy in the population.
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Oh, thats good! Very accurate!
At the same time you aren’t paying homeowner’s insurance or property taxes or for maintenance and upkeep.
All of that plus my mortgage is 25% cheaper than the apartment I rented 6 years (2/3 the square footage of what i have now, no garage or yard). Housing cost is really a problem, both on the rental and ownership fronts. Look at the statistics, millenials and gen Z spend a significantly larger percentage of their income on housing than previous generations.
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I understand that but to think that landlords are making a killing off the sweat of young adults is not exactly true.
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The independent landlord isn’t, they’re just as stressed about being able to pay off mortgage.
There is an increasing trend of institutional investors buying single family homes and apartments in previously cheap areas. Those are 100% making a killing
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Maybe so,
I think the larger problem is the hedge funds and other very wealthy buying up a ton of the land.
I have seen market prices start to stabilize around me in the last year or so. Increase in cost has been much more reasonable.
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RFK Jr has talked about affordable housing but the Democrats prefer to focus on giving free shit to illegals. If young people set aside identity politics and made it clear they care more about economics than pronouns, the Dems would listen.
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This is exactly what RFK was talking about. But Dem politicians, and Rep as well, profit from it so they won’t anger their corporate masters.
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