this post was submitted on 06 Dec 2024
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submitted 6 days ago by cm0002 to c/memes
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[–] Olgratin_Magmatoe 6 points 5 days ago* (last edited 5 days ago) (1 children)

What do you mean about the housing market? Prices are insane I agree, but do you think bubble go pop? That would be great for everyone, which doesn’t fit the tone of the rest of your comment.

If/when it pops, it's going to do so like a pimple, with puss, bacteria, gross warm goop.

The rich will buy up even more of the housing, (eventually) push out even more first time buyers, and people will lose their jobs.

https://jbrec.com/insights/charting-a-22-year-roller-coaster-of-investor-activity/

The share of homes owned by investors increased after the 2008 crash, and has been increasing since. Another bubble burst will be the same. Granted, the share of first time home buyers also increased, but it didn't last, and it came at the cost of other people losing their homes.

And we're now seeing reality companies turn into megacorps like they haven't before, with more and more properties each. They should not have that level of control over the market, and it would only increase (dark gray and blue sections on that graph).

[–] MutilationWave 2 points 5 days ago (1 children)

Thank you, very well explained with sources. Seriously you went deep into the comments to explain it to me and I appreciate that.

I don't know why I thought real estate would be different when I've been preaching that the people who run Trump are going to wreck the economy on purpose with tariffs so billionaires can buy everything cheap. I just selfishly want to buy a home that's bigger than the shitty one I rent so we can move my wife's elderly mother in with us.

[–] Olgratin_Magmatoe 2 points 5 days ago

Thank you, very well explained with sources. Seriously you went deep into the comments to explain it to me and I appreciate that.

Of course, no problem.

I just selfishly want to buy a home that’s bigger than the shitty one I rent so we can move my wife’s elderly mother in with us.

I'm in a similar position, so I feel you.