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Thread: Real Estate Crash thread
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09-21-2020, 12:09 PM #10226"We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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09-21-2020, 12:22 PM #10227
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09-21-2020, 02:08 PM #10228
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09-21-2020, 02:14 PM #10229Registered User
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Probably monetary policy as well. Residential real estate is more or less debt fueled consumption rather than production. While the interest rates are low the bubble will keep inflating until the drag created by the debt exceeds any productivity gains realized as part of the transaction.
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09-21-2020, 02:27 PM #10230Registered User
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09-21-2020, 03:40 PM #10231Registered User
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I too am really concerned about this. Also from an employment standpoint.
I just can't figure out if it means that I should get in now so I can own something or wait so I can get it cheap. My time horizon is only like 4 years before needing to sell and move again so normally I would just rent and stockpile cash.
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09-21-2020, 03:46 PM #10232
I'd plan on renting. Four year turnaround is tough to get back your costs in any market.
That being said, this isn't tulip bulbs, people gotta live somewhere and we aren't exactly losing overall population numbers. Depends on your local market of course. Places like Utica NY or the like are definitely declining while the Denver metro continues to grow, etc.
I continue to believe though that all these WFH FOREVER! types, and their resulting effects on specific markets, are thinking extremely short term. Take Stripe for example. They are offering 20k to work from home but then immediately reducing your salary 20%. Talk about a deflationary event if there is a mass reduction in overall compensation for white collars like that. People will be back in the office within an hour of that phone call though so that will nip that trend in the butt right quick.Live Free or Die
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09-21-2020, 03:50 PM #10233
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09-21-2020, 03:51 PM #10234
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09-21-2020, 04:26 PM #10235Banned
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Fixed it for you, you fucking asshole.
In my line of work, I can find the exact same job in two different geographic areas with a $70K+ per year difference in income. Now sure, housing is cheap where wages are low, but try buying a "cheap" house in the US in 2020 when you're grossing $35-40k a year. This is the fatal flaw with your point: for a lot of jobs, wages don't cover the cost of living ANYWHERE, but wages scale more closely with cost of living in expensive/desirable areas than less desirable ones.
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09-21-2020, 04:46 PM #10236
GM, if a person makes $40k a year they better live where shit is dirt cheap to be able to buy a home. My daughter had her wages cut in half due to this Covid shit. Her employer went under and she had to start from the bottom again.
Unless you are making $80k+ forget about buying most anywhere these days.
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09-21-2020, 05:44 PM #10237
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09-21-2020, 06:07 PM #10238
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09-21-2020, 06:57 PM #10239
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09-21-2020, 06:59 PM #10240
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09-21-2020, 07:05 PM #10241
Home ownership is no longer the American dream that it once was.
"We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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09-21-2020, 10:24 PM #10242
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09-22-2020, 06:55 AM #10243Banned
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09-22-2020, 07:57 PM #10244Registered User
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09-22-2020, 11:48 PM #10245
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09-23-2020, 07:05 AM #10246
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09-23-2020, 11:18 AM #10247"We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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09-23-2020, 11:27 AM #10248Registered User
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It's only $500k to buy a green card through the EB-5 program, and you might actually get a return on the money if it doesn't end up in a pyramid scheme first...
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09-23-2020, 11:27 AM #10249Registered User
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They tried that in Canada and it didnt really work all that well
Lee Lau - xxx-er is the laziest Asian canuck I know
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09-23-2020, 11:32 AM #10250
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