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Fellow home owners, are you ready for the housing market to crash? (self.asklemmy)

submitted 1 year ago by ericbomb to c/asklemmy

212 comments fedilink hide all child comments

I know I'm supposed to want it to keep going up as a wealth generator or whatever.

But like... I wouldn't be able to afford the monthly payments if I bought my house right now and it's scary. Also none of my friends are buying homes, none of them are even renting full places. Just like renting rooms.

So what are your feelings home owners of lemmy?

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[–] OCATMBBL 13 points 1 year ago (2 children)

Because when an entire generation cannot afford housing, and an older generation starts dying, the houses have nowhere to go. Right now, houses are just changing hands and climbing a wealth generation ladder, but the last buyer at the high prices holds the bag when it all falls apart.

[–] GetOn 6 points 1 year ago

This is exactly the reason why corporations are the fasted growing group buying residential property. Once a Ponzi scheme exhausts a buyer base it needs to find a new one to keep going.

[–] [email protected] 3 points 1 year ago

Much as I want a crash, the houses have lots of places to go. Into lovely warm investor pockets....