Why is housing so expensive? Also, don't go fucking showing me $40k listings in Gary, IN

Why is housing so expensive? Also, don't go fucking showing me $40k listings in Gary, IN.

Other urls found in this thread:

zillow.com/homedetails/4400-Arthur-St-Gary-IN-46408/73286212_zpid/
investopedia.com/financial-edge/1112/reasons-renting-is-better-than-buying.aspx
dqydj.com/historical-homeownership-rate-in-the-united-states-1890-present/
twitter.com/SFWRedditVideos

Supply and Demand. Cheap interest rates.

zillow.com/homedetails/4400-Arthur-St-Gary-IN-46408/73286212_zpid/

You can get a perfectly nice house in America and support a wife and two children on the minimum wage.

Unironically because banks see housing as a means of investment to gain capital returns.

Alot of houses in britan arent even for people to live in but they are used as a storage for wealth

And also because massive demand for housing + cheap interest rates and mass migration to the west

Fpbp
It really is supply and demand but also you need factor in the that supply and demand is skewed due to govt assistance, government giving certain developer and neighborhood sweetheart deals, and lastly what user says is the real culprit at heart.
The cheap interest rates coupled with loose credit requirement (even looser before) pretty much meant homes could be sold at ridiculous prices because banks were giving out free money to anyone.
For a correction to occur you first need to see increase in interest rates, higher down payment requirements, and generally a lot of foreclosure and people leaving the city.
But even if interest rise, with the huge influx of immigrants, three-four families can pool resources to buy a single family home so unless the government starts to enforce "single family means single family" and stop "you can't be a foreigner and buy property you won't rent or live in" I don't see housing prices coming down. At least in the big cities.
Best thing to do is buy a run down house and fix it up yourself.

>Gary, IN
What did I say? Might as well buy a house in Mogadishu. Actually, that might be more expensive because of oceanfront property.

fuck any part of Indiana. I had to spend a month in the Denver/Peru/Kokomo area and it was hell.

also house flippers are a problem.

>also house flippers are a problem.
I stay far away from anyone strong enough to flip a house regularly, user
Sounds like trouble

Joking aside, it fucks people at the bottom rung of the ladder. The cheapest inventory, while it may need work, is inaccessible because (((people))) swoop in and buy it because of meme shows on HGN.

It's the land/location, and the market.
I'm in construction, it doesn't cost us more to build in other places than it does anywhere else.

Because most money exists because of mortgages so if houses were cheaper there wouldn't be enough money to keep us in perpetual slavery

Because stupid mindless animals keep letting it happen by buying regardless of how retarded it gets, and you people are so gutless that you won't even revolt to return sanity to your homelands.

>foreign invaders buying houses
>REITs buying all the land & houses; building apartments instead
>speculators/flippers
>rich fucks owning more than 1 home
>Califags and Yankees moving south, paying a premium for housing they think is cheap

How to fix:

>ban foreign buyers
>double property tax on rentals, 2nd homes
>remove tax deduction on rentals, 2nd homes
>eliminate all immigration other than white westerns
>force all non-white, non-westerner back home that have moved here since 1965 (won't happen)

Faggots buy all of the $80,000 fixer uppers that should be sold to low income families only to drop $20k worth of cheap as shit band aid materials and immigrant labor so they can list it for $200k three months later.

It's infuriating.

Okay Sup Forums, here is the musical chairs game here you all are missing.

> Self driving cars coming in next ten years.
> Most likely will have minimum speeds on SDC only interstates of 150mph under centralized network traffic management.
> Can literally be a hundred and fifty fucking miles outside of city, and in heart of downtown in an hour.
> Most people in a SDC will actually use it as a chance to work, or do other things, in comfort, and better utilize their time.
> Commercial developments, manufacturing, all moving away from major cities due to autonomous vehicles also going to kill both air freight and rail (for domestic) and interstate trucking, as we know them, as they will no longer be mashed together to rely on centralizing infrastructure features, with alternative energy from natgas and coal to clean fuel coupled with battery and solar tech making industrial energy near post scarcity level.

The only remaining capital a mega city brings is political. And it gets that political power from bringing together people to make them poor as shit, exploited as shit, dependent as shit, on the state. That is why Leftism loves the urban fuck holes they created in the last century after they abandoned the rural folk who shared Jefferson's 'Democrat' vision.

Basically technology shock is about to decimate the value of over concentrated urban centers. This is no longer the Renaissance period, you do not have to physically have great minds in near space for them to collaborate once you have the internet. You no longer with automation need the concentration of laborers either for producing economic goods, and you soon will not need them even for the service industry either.

So what do? Pump and dump you stupid goy! Sell homes to rent to the yellow man with no other means to invest his money back in red wu shu kung fury land. Make people believe you'll somehow be able to demand disproportionate taxes from the rural areas, and from the national income also.

This.

>>double property tax on rentals

That just means rent prices will go up, making it harder for people to save downpayments to buy their own homes.

Literally everything else on your list is spot on though, I don't understand why any country would think it is ok to sell property to foreigners who are literally just using it as a wealth shelter and have no plans on actually living there.

>How to fix:
>eliminate all immigration other than white westerns
You could have just stopped here man
This is responsible for alot of the housing crisis because they take up space in rentals so natives have to compete for the ones you can buy

ban non-productive, non-western migration and the problem goes away

The answer is unironicly the banks user.
Think about it, Banks give people loans at insane amounts and they give loans very easily, this causes a culture where people can sell their houses for outrageous amounts because they know some dumb sap will get a loan for it because he can. Thats why the market is so expensive. Honestly jut buy land and then build your own house. I'm sure there will be a millennial boom town that will happen in the middle of no where eventually that has a bunch of tiny houses they built or bought custom to escape the market trap.

Zoning laws limit supply
People using houses as investments also limit supply
Low (((interest rates))) increase demand

Because the sellers can expect you to take up a loan to pay whatever price is necessary. Loans should be illegal.

Because boomers stole all the wealth from future generations and are using it to trade real estate with each other, further fucking us.

Oh, I also forgot:

>ban section 8 vouchers

You might have a point. But I think if you own a rental and cannot deduct property taxes anymore, and your property taxes double, you are going to sell the thing rather than raise the prices an incredible amount that few people will be willing to pay, especially when housing will become super affordable when the other policies go into place.

You might see apartment complex units be sold to individuals, who will start an HOA to cover the maintenance (like a condo). It will be unlike most condos today though as almost every owner will be living there, and will care for the property/be more involved in the HOA. Today many condos have investors owning a big chunk of all units there and they have a huge voting block on the HOA board.

>Loans should be illegal.

Yes, because everyone has $150k in cash they can use to purchase a house outright.

true.

Housing crisis happened because low interest made people take loans that were way over their heads, prices on homes are currently at pre-crisis levels. It happened because interest rates went up making people unable to afford mortgages, Yellen is raising interest rates again. Brace yourselves this one will be worse than the last.

>150k for a house

Lel that would be cool. It's like like atleast 600k for a house here.

I keep seeing Gary mentioned as a toilet. Holy fuck how bad is that place? Worse than Chiraq?

>meanwhile tons of illegals can live innthe most expensive state

Swedebro...if you dont think that 150k is in dollars i feel bad for you

>low interest made people take loans that were way over their heads
no a government regulation encouraged ninja loans to niggers

I can only hope it crashes again. I need to pick up a house on the cheap asap.

Well, to be fair mortgages in general have really created a market where people buy way too much house than they can afford. Builders, developers, etc. take advantage of the fact that an individual home buyer might be able to get a mortgage for $500,000 and they will make the costs be as high as possible to match that.

Local municipalities play a role too as the higher the home prices, the more taxes they collect. So they set up zoning that forbids cheap, small houses.

Flipping should be illegal, and yes it is always a pile of faggots and immigrant labor.

> 32 Years old
> Zero savings
> Work full time at $10.25 an hour

It's depressing that the idea of home ownership is essentially barred to me. It's my fault, I made shithouse decisions earlier in life and didn't go to college or learn a trade, but it still fucking sucks.

My best option is going to be to save up a few grand and hope I can get an FHA loan for some shithole money pit 10 miles outside of town or something. If I tried to buy in town I'd have to fight all of the other poorfags as well as house flippers buying all of the cheap property, and even if I got something with my luck I'd be 5 or 10 years in to my 30 fucking year mortgage and a bunch of niggers would move into the neighborhood or something.

Ideally I could just buy a small plot of land and build a relatively small house on my own, I think that's going to be the only way for a guy like me to actually own the roof I'm sleeping under.

Pfft. Here you'll have to pay 250k for a one room studio apartment as well as monthly expenses of 100-2000 a month.

Owning a house/land/property should be reserved for the extremely wealthy. It was only in the 1900's with modernization and construction of suburbia that the middle and lower classes have been able to afford homes. The market is just slowly shifting back to what historically has always been a fact and that fact is you, me and 90% of people aren't meant to own property. Property is a massive scam sold to you by banks and the government to ensure you're locked down in one location paying money to massive companies.

250 NOK for an aprtment? sign me up Norgebro

USD my friend.

You better stay in shape if you want to build your own house. You're younger right now than you're ever going to get, and building a solid house is hard labor.

>Owning a house/land/property should be reserved for the extremely wealthy. It was only in the 1900's with modernization and construction of suburbia that the middle and lower classes have been able to afford homes. The market is just slowly shifting back to what historically has always been a fact and that fact is you, me and 90% of people aren't meant to own property. Property is a massive scam sold to you by banks and the government to ensure you're locked down in one location paying money to massive companies.

Sauce? I would like to read about this.

How the fuck are you 32 years old and making 10.25/hr?

You could walk into a job service here and be in a 13/hr job within a week as that's the entry level for easy shit you can learn on the job in 2 hours or less like basic soldering or spot welding. Its not even a place that is expensive to live in either, its fucking ohio.

Ran my own business and it tanked, meandered for a while, am essentially starting from scratch.

I live in the PNW.

Renting is better when done in a smart and practical manner. Money saved from renting can be invested and can generate you more savings than you could get from buying a house and hoping the property appreciates as an asset. Renting also gives you more mobility, new job offers, relocations etc are a lot easier when renting as with a house you're limited unless you want to pay land transfer costs, closing fees, realtor fees etc. Increased wages from moving cities leads to better upward mobility and more opportunities that homeowners wouldn't be able to experience. You can find lots of links and studies that support this argument, below is just one.

investopedia.com/financial-edge/1112/reasons-renting-is-better-than-buying.aspx

As for property ownership well for most of human history people worked land owned by landowners. Ownership has only recently grown.

dqydj.com/historical-homeownership-rate-in-the-united-states-1890-present/

Kek

>zillow.com/homedetails/4400-Arthur-St-Gary-IN-46408/73286212_zpid/
take le bait 101

I buy str8 cash foreclosures m8, no b8. have fun paying your (((mortgage))).

What's the matter, you don't want to live in niggertown?

Nothing wrong with Gary Indiana. It's a great place to raise a family.

how much would you bet a dead body is in one of those buildings?

It's set in Baltimore, but a major plot point of one of the seasons of The Wire was that the detectives assigned to work murders were confused because no drug dealers were being murdered for a while.

Turns out one of the head drug dealers, in an attempt to rise to power and cement his position, was having people killed left and right, but the police didn't know about it because the bodies were being stashed inside vacant rowhouses.

Look into aircrete domes. I am in the pnw, and an unskilled laborer essentially working for nothing. I plan on buying a couple of acres and building an aircrete dome workshop, then a home. It's very cheap compared to conventional wood homes and has lots of other bonuses that go along with it.
Building our own is probably the only way we're going to own a home.