Houses in my area increases 82% in just 4 years
Houses in my area increases 82% in just 4 years
My salary didn't change at all, but homes went up 82%. The money I saved for a down payment and my salary no longer are good enough for this home and many others. This ain't even a "good" home either. It was a 200k meh average ok home before. Now it's simply unaffordable
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Y'all realize this is a bubble, right? I almost feel sorry for these investors, gonna have their ass handed to them in the coming decade.
If Big Macs, houses, gas and college tuition all went up, it's time to realize these are not all in bubbles and instead realize due to inflation your salary has been halved.
Y'all realize this is a bubble, right?
Can you explain why you feel that way?
Not really. The system will instead keep finding ways to get people to rent at higher prices or take out low down payment loans with ever larger monthly payments taking a lot more of take home salaries and making it harder than ever to save and invest.
Shout out to !housing_bubble_2@lemmy.world
The rental aspect isn't a bubble. Until they start viciously taxing single-family home rental, home prices are going to stay high because they're not being bought as homes but as assets for rent-seeking.
I feel sorry for any one whose bought a house over the last couple years.
Bought a house 5 years ago. Cheaper than renting and equity says I made 100k. It's good.
It's just lame how expensive they are now. BTW, they were to expensive 5 years ago too.
It depends on the area. Some places are actually gowning that fast in population