Housing needs to crash.

5 Mil 🤣🤣

Literally

Yeah the housing market is so cooked. A wealthy young person making 10x the median income can’t buy a house some dumbfuck middle class boomer bought in 1975.

would be worth $31m if they put that $75k into the sp500 (1975) tho...

A fat person doesn’t have one fat leg S&P earnings since 1975 have compounded 7.4% since 1975. If you had $75k of S&P earnings the you’d $2.78M now. That house CAGRd more than S&P earnings and that’s not how it’s supposed to work.

Prop 13 is one of the worst ideas Californians imposed upon themselves. Took a decade or two for the results to fully materialize, but is arguably the greatest reason young Californians are leaving their state in droves.

💯 Prop 13 has been a windfall for people who bought before 1978 and passed on to generations. I bought my place in 1985 and already paying way more tax than my neighbors. It was stupid and has had long term consequences.

Needs to go

Homeowners will try to say home prices will never crash again.

I moved to the third world and just rent. NO STRESS. 😎

4th Turning. The forest fire will set conditions for new and healthy growth.

Boomers control the political system. Until that changes, expect more of the same

5 million for that pos is crazy work

Study monetary system/printing kiddo. Then study bitcoin. You shouldn’t be giving advice. The housing market can’t collapse. They can’t let it. Slight correction? Sure.

The reason why the last bull market in crypto sucked was because of people like you. Bitcoiner IQ has gone below 100

Bitcoins been in a bull market since inception. You obviously haven’t done most of the required readings or research to understand the current financial situation. There’s too much money bud. Now they gotta make more. It will keep going into real estate and the stock market. Where else will it go?

Spitting nothing but facts.

Well said

Yep.

they knew they had the numbers in the 70’s and outvoted five generations that came after them.

Things would be infinitely worse.

Aren't house prices a lagging attempt to keep up with the inflating currency? Maybe buyers are unconsciously benefiting from shorting the $ with a leverage?

Lets tax grandma until she is out on the street. 🖕

It's coming. Boomers are dying off at around 5,000 per day, and their heirs will sell over 70% of those homes.

Nope, what will happen is that older people won’t afford their homes and young people will still lose.

You don’t understand economics

Housing needs to be like a vehicle ( depreciation asset ) . Only then things will become improve. - Add the property taxes to 5% of the property value - Build more homes to meet the demand like any other commodity

So you make $ 850,000 BS you make max $ 30,000 a year. Stop Crying - It is what it is. Just have to deal with it. And I am 50 --

Yeah, but if those people put the house up (which is happening in places now) who’s going to buy? Largely, that’s the problem. The potential buyers have already been shut out, so where do these boomers think their ROI exists?

My bid is $500k

Exactly!!

Yes as do all assets and equities. How do you ascertain the value of something if it’s manipulated by gov policies and passive behaviors? Just wait till the consequences of bloated weighted indexes results in Future gen working for 7 companies.

The more people saying housing "needs" to crash, the more I'm confident that demand is huge and it will never crash. Everyone just dream to buy.

Price controls suck; communist hot take

There are not price controls suggest bozo I am asking to remove the anti-free market policies raising home prices

1975 price doesn’t mean shit. At all.

If you want a 50x house, buy one now, and in about 50 years, you will be the guy everyone is bitching about. He acts as if they bought it and in a year it appreciated.

BTW: $75K in 1975 is like $500K today. So they weren't bottom buyers back then either. They had to have money back then to buy that place. If they financed it, they did so at 9% or 9.5% interest. Oh, and in 1975, that home was nearly 6x the median income. Not good examples, honestly.

I stopped watching at “bubble” 🤣🤣 No crash is coming.

Just have a trust fund and buy that thing cash

The purchasing power of the dollar has been destroyed. It's not exclusive to housing, it's everything.