Real Estate Crash thread

[Meadow Skipper]

I don't know what will get through to you, but I really do feel sorry for you.

Bless your heart.

Fixed.

[dunfree]

Which is worse, the 'I've made it and am rolling in assets' dickwave know it all or the Loser, bitter, lecturing, know it all ?

They are the same on this here siteofweb.

[dan_pdx]

Which is worse, the 'I've made it and am rolling in assets' dickwave know it all or the Loser, bitter, lecturing, know it all ?

Why pick one? If you were a millennial, you would know that everyone can be a winner

[mcphee]

Why pick one? If you were a millennial, you would know that everyone can be a winner

only because their Boomer and Gen X parents led them to believe that while tipping the scales to make sure no one really wins.

[Name Redacted]

Hey Bunny, BYHYFM

[ntblanks]

Hey Bunny, BYHYFM

it's really catching on El Chupacabra.

[PNWbrit]

Which is worse, the 'I've made it and am rolling in assets' dickwave know it all or the Loser, bitter, lecturing, know it all ?

The loser, bitter lecturer recognized himself in a (bless his) heartbeat

[Falcon3]

It’s not just the homeowners over leveraging that create a housing bubble. The assholes in investment banks that bet on highly leveraged Collateralized Debt Obligations are the real existential risk to the market.

Yes Dodd-Frank put some restrictions on banks engaging in these risky bets but much of the banking side of the regulations have been rolled back.

Check out the vehicle debt market if you want to be scared. Virtually no regulation, highly collateralized debt with very risky tranches. Now with the exposition in used and new car prices and virtually no underwriting requirements for car loans, along with extending loans well past the point where the cars are worth what’s owed on them, it’s a real building crisis.

[RoooR]

Kind of my point. You choose to live somewhere with the attributes and services you desire so there are rules. Move to where there are less stringent building and zoning codes. Lots of county space like that. Oh wait, you need to earn money off people or work for people to make money or just want a certain lifestyle. Not as self-sufficient as you might think. I'm trolling here. Sort of.

You never made the connection between housing restrictions and "keeping people alive." Whatever that means. But funny enough I do live in a rural area on a largish lot that I've done all kinds of cool shit on. If I was in the city I'd have an army of Karen's complaining about my bike jumps. I bought a lot of land because unlike all the NIMBYs that want to tell their neighbors what to do with their property I'd be fine to see subdivisions or condos go in around me. And thanks to the internet I make plenty of money. Been WFH for over 10 years, but I guess according to Benny I'll be told to go back to the office any day now.

[Conundrum]

Move further out. If you need a society to survive or at a minimum, maintain your expected lifestyle, you have to play by society's rules. If you don't like society's rules, you can work with the society to change them. Or change where you live. If you can't move further out because you need to make a living with an internet connection, have health care that requires services, depend on a grocery store for food, want to be close to ski areas, etc, you might not be as self sufficient as the level of freedom you want requires. So you might have to work to get the rules changed to your liking or get good with them.

But yeah, zoning is a contributor to the housing shortage. But then again, I live in an area zoned for density and I don't bitch about it. I do bitch about taxes so that's my cross but I communicate with my local government. Doesn't appear to be working so I guess I'll get good with it 'til I ain't. Then I'll become a hermit.

[RoooR]

That's a pretty piss poor way to justify NIMBYs not wanting to live in mixed density neighborhoods.

[RootSkier]

Yeah, this work from home thing is a massive market that totally justifies the present bubble in places like Bozeman.

Bozeman has been a bubble for a hell of a lot longer than covid has been around. But if the only place you have ever skied is in Summit County, you wouldn't understand.

[dunfree]

That's a pretty piss poor way to justify NIMBYs not wanting to live in mixed density neighborhoods.

and yet not nearly as pisspoor as the libertarian “everything is the evil governments fault” bullshit blinders

[Conundrum]

That's a pretty piss poor way to justify NIMBYs not wanting to live in mixed density neighborhoods.

I thought democratic republics were based on a majority more or less. When's the tipping point? Apathy is not an answer.

[Toadman]

We would all be so lucky or financially well off to never have to dip into principal during retirement. Wife's grandmother had a nice chunk of change in a company that went belly up during the great recession, Bear Stearns. Otherwise she probably never would have needed to touch the principal in any of her retirement funds. Shit happens, no matter how hard we try to avoid it.

[Benny Profane]

Bozeman has been a bubble for a hell of a lot longer than covid has been around. But if the only place you have ever skied is in Summit County, you wouldn't understand.

Talk to Harry, tough guy. That was my third visit.

The obvious underlying economy of Bozeman doesn't come near the valuations. Booms go on much longer than anyone predicts many a time. It's still a backwater with a connection airport.

[Benny Profane]

We would all be so lucky or financially well off to never have to dip into principal during retirement. Wife's grandmother had a nice chunk of change in a company that went belly up during the great recession, Bear Stearns. Otherwise she probably never would have needed to touch the principal in any of her retirement funds. Shit happens, no matter how hard we try to avoid it.

Time Warner here. No choice in the matter. I experienced severe principal loss at a fairly young age. Thank god. I always thought, well, at least I'm not 65. Then you're in the zone of no second chances.

[skaredshtles]

<snip> It's still a backwater

Bless your heart.

[liv2ski]

Wow, 3 pages today? I was busy working, so I don't have to touch my principle Tough crowd in here. This thread brings out teh hates for sure. Was a good day to lock in 4matic.

[fastfred]

Funny how you've had a major stick up your ass about me the past few years. Could it be that it started with your life falling apart when you lost your career, and now your future is bleak? Now, who the fuck is the bitter loser? I'm not one to wish the worst on the unfortunate, but, go fuck yourself already.

solid work benny

maybe some day you can come to my house and teach me everything you know
unless it goes into forclosure when the current bubble I'm riding pops like a ballon

[Toadman]

https://www.cnn.com/2021/07/15/homes...age/index.html

Housing has become so expensive in the United States that the typical minimum wage worker cannot afford rent, according to a new report.

There is no state, county or city in the country where a full-time, minimum-wage worker working 40 hours a week can afford a two-bedroom rental, a report from the National Low Income Housing Coalition showed.
A full-time minimum-wage worker can afford a one-bedroom rental in only 7% of all US counties — 218 counties out of more than 3,000 nationwide.
The federal minimum wage is $7.25.
But the report showed that a worker would need to earn $24.90 per hour in order to afford a two-bedroom home at Fair Market Rent. And a $20.40 "housing wage" would be needed for a one-bedroom. Fair Market Rents are government estimates of what a person should expect to pay for a modest home in their area.
A housing wage is the amount a worker would need to earn to afford a home without spending more than 30% of their income on rent and utilities.
"These amounts are far higher than many Americans -- including seniors, people with disabilities, and working families -- can spend on housing," wrote Marcia L. Fudge, secretary of the US Department of Housing and Urban Development, in the preface to the report.

[liv2ski]

Yup, if you are a low wage earner life sucks. I guess $15 an hour doesn't even work anymore. Fucking wow.

[TAFKALVS]

Yup, if you are a low wage earner life sucks. I guess $15 an hour doesn't even work anymore. Fucking wow.

100k a year won't be much soon either.

[Benny Profane]

https://www.cnn.com/2021/07/15/homes...age/index.html

But, but, we got Juneteenth!

Btw, I just read that Pelosi (ahem, er, technically, her husband) has done very well in the options market this year. Ka ching.

[Toadman]

It's good to be the Kaching King.