Fucked Real Estate Market General

Tried to buy a condo today near Seattle, got outbid by 3 cash offers who paid 15% over list price.
>chink speculators angry over Vancouver 15% real estate tax
theglobeandmail.com/news/world/vancouvers-real-estate-tax-sparks-backlash-from-chinese-buyers/article31404771/

B.C. Real estate agents knocking on dead peoples doors to sell houses
>thestar.com/news/canada/2016/08/09/real-estate-agents-sales-pitch-to-bereaved-bc-man-creates-storm.html

Seatle Rents rising faster than anywhere in country
>Seattle rents now growing faster than in any other U.S. city
seattletimes.com/business/real-estate/seattle-rents-now-growing-faster-than-in-any-other-us-city/

Come to FL

Buy a mansion for 400k
A legit mansion, in north fl

Prices are going uo consistently and niggers are moving away due to cost of housing.

They live on welfare and cant afford basic housing while on it

Real estate speculation should legitimately be made illegal.

Why cause you can't afford it?

I've been saving up and improving my credit in order to be able to invest in real estate.

Fuck you if you lack the discipline and drive to try and get ahead.

...

>boss at work was talking about this today.

one of two likely scenarios:

foreign millionaires trying to hedge their bets.
banks creating a bubble and riding it to the top.

Quantitative Easing Round 3... about to begin?

>Come to FL

>Zika
>Sea level rise
>Increasing global average temp
>Spics
>Floridaman
>Spics
>Gators

Na

Wages don't increase at the same rate as the value of real estate. What do you think is going to happen when the price of real estate is 10-15 times the yearly wage? They'll just have no interest loans? Please.

And also, tell me why you should make a profit on real estate? Especially your primary residence.

But user, really. Unless the real estate you're thinking of buying is around 3 times your gross income, don't buy it. Especially don't "spend" 7-8 times. You'll get fucked over. Even though you're an asshole, I don't want you to get fucked over.

with central banks having ZIRP as far as the eye can see the population increasing buying real estate is a great bet right now. obviously if rate rose the market would collapse. but central banks wont let that happen

>Vancouver

It became North America chink capital long ago. Isn't 60% of all house sales going to them ?

At UW and if I want an apartment near campus it's $1200 a month for a 440 sq ft studio.

I know that feel

Shared tiny ass basement room, $600 + utilities sucks man

Grown ass man sleeping on a bunk bed with some 18 year old kid above me. Kill me now.

Really I would buy an RV and just live out of it but there is NO PLACE TO PARK IT, like anywhere. For some fuck ass reason I tell myself I have too much dignity to live in a van, at least I could find a place to park that. Campus approved housing rules would need to be cheated as well.

There's no guarantee I won't lose my ass.

That said, my primary residence is protected under most circumstances by bankruptcy laws.

If I fuck up, I'll start over and try again.

At least I don't sit around and whimper about being a victim.

WHAT? BUT I THOUGHT A $15 MINIMUM WAGE WAS SUPPOSED TO MAKE THINGS MORE AFFORDABLE?

>minimum wage workers having an effect on the yousing market

>americuckold """""""""education"""""""""

Yeah interesting times. I've resigned to the fact I'll probably never own. There is no shortage of millionaires in the world apparently and I ain't one of them. If our bubble pops hard maybe but sure as hell ain't signing up for a cash poor 30 year mortgage. Never remember, mortgage is French for death and chains. Living in a van down by the river, if it's paid for, isn't all that bad.

>houses away from liberal huge cities only cost 200k for 3 bedroom 2 bath
>they wonder why they struggle to find a house in a over populated liberal city center
I don't get it

Nowhere did I say that I was a victim. I live in Australia and the real estate market is a little different here. Like houses 200km from any reasonable workplace are 7-8 times my household income. Why would I buy this, how could I actually service this loan? Drive 200km to work every day?

And what is the benefit to society as a whole if real estate continues to climb?

And also, you think laws will protect you if/when the economy is crashed?

It's not about victimhood. It's no different to exporting labour overseas.

Increased demand of product without an increase in the supply causes prices to raise.

People really need to stop focusing on the paper, and start focusing on GDP. I'll give an example:

If the entire GDP was 10 Playstations, and the entire economy was built on 10 dollars, you would get 1 Playstation per dollar.

So what happens if you keep GDP the same, but build the entire economy 10,000 dollars? Then the same PS would cost 1,000 dollars.

But, on the other hand, if you keep the money supply the same ($100), and increase the GDP to 10,000 Playstations, then you could buy 100 Playstations per dollar.

This is why poor people are perpetually poor. They don't understand even the simplest notions about economics. And governments that like to spend a lot love these people, because they get to introduce that money into the economy pre-inflation, essentially fucking the average Joe twice.

>people can afford more rent, competition for better places drives rent prices up
>increased rent leads to increased home values


>Australian too-drunk-to-function """""""economics"""""""

The problem is that there are very few jobs in rural areas and even fewer well paying jobs.

The problem isn't that they don't understand, it's that even if they did no one gets excited about monetary policy anymore

>raise minimum wage
>rents rise as a result
>have to build affordable housing
>raise taxes to build affordable housing
>people leave city
>raise taxes more on the people who remain to cover shortfall
>large exodus from city
>20 years later, city is 100% democratic and a detroitian hellhole

Working as intended.

>this much Stockholm syndrome.

I can't speak for straya, but that's totally the problem here.

If you were to make that argument to ten people, at LEAST 10 would have their mind blown, college grads or no. Not even joking.

They think like the Romans did.

Honestly I'm about to buy a van. I just don't know how I'd downgrade to that small of a space.

>What do you think is going to happen when the price of real estate is 10-15 times the yearly wage?

In Croatia it's legit 50-100 times larger right now

What's funny is $15 an hour for 40 hours a week still doesn't give you enough after taxes to afford the average apartment in Seattle

JUST

I'm paying 400/month for a 1 bedroom duplex. All wood floors, fridge, stove, garbage disposal, dishwasher, attached garage, storage shed, and lawn care included, as well as hookups for washer and dryer.

>tfw half indian half bong
>tfw can get overseas citizenship that counts as dual citizenship and lets me buy property in india while also giving me a life long visa
Now normally I wouldn't give a fuck but it turns out that property in Goa a prime tourist destination is very affordable.
I'm only 24 right now but do you guys think it'd be wise to purchase an apartment and rent it out to tourists basically 24/7 and also use it as a holiday home?
Seems like a good investment and Goa also looks like a nice place

It's the same here bro. Then people wonder why the younger generations live with their parents.

It's the reason why nobody is buying their own place right now, absurdly high prices.

>north fl
yeah, but then you're in northern florida

Fuck that

tacoma here. i really fuckin hate that damn city but hella cute girls walking in flip flops tho. still wish i could nuke it the fuck out.

You can get those housing prices in Spokane WA. It's the second largest city in Washington. Sure it had a lower median income than Seattle but it has plenty of jobs and plenty of good paying jobs. You just need to avoid the liberal Meccas. Seattle, LA, NYC

>muh credit rating
yes goy, buy our products and be judged based on your payment of said products

the same here too, not that bad but still
my family's house is worth 22x of the avg wage
also this

I thought like you until my bank went AMEX on cards, and my cell phone provider didn't take AMEX. Got a secured Master card from capital one, and use it for nothing other than my cell phone (15/line/month). My credit went from like 585 to 700 in a matter of months.

nah not seattle. the city itself is too precious. ever been underground?

This whole thread makes me happy I still live with my parents at the age of 26.

What state?

Find a long term parking garage or something? Probably can get decent rates and you'd be sheltered

My aunt lives out there. She's a federal judge and makes good money (around 500k a year) and her husband is a drafter. They both make at least $900k a year, but they still live in this shitty 2-story with 3 bedrooms.

But, they've had that house for at least 20 years. I wonder if the real estate prices have always been ridiculous out there (Tacoma).

No they were way cheaper 20 years ago.