A Boring Dystopia

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Housing market affordability is so bad that Zillow says it will take you 13.5 years to break even on a purchase from July onward (finance.yahoo.com)

submitted 1 year ago by return2ozma to c/aboringdystopia

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[–] maggoats 17 points 1 year ago (1 children)

I wonder this too, but I'm coming to believe that as long as investors are throwing money at housing and people need it, it might not burst. With enough wealth concentration, maybe it just all gets progressively bought up and rented out at insane prices, with growth coming from speculation among massive institutional investors.

But I haven't really thought of this deeply or looked into whether it's sound.

[–] Dkarma 4 points 1 year ago

This is what you're seeing now where mega corps are buying up trailer parks and all the low end housing. Theyre cranking up the prices on these to justify cranking the prices on the mid range stuff and so on up the $ ladder.

There are no more low end housing being built anywhere. It's all 350k and up being built.

Thats the main problem really. The shitty stuff got priced where mid stuff used to be and there's no supply for first time buyers to use to build equity.