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MT, USA
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Posted: 8/26/2024 8:56:43 PM EDT
[#1]
What is the positive here for the general population, especially first-time home buyers?
I mean, everyone here says "welp, capitalism" but truth is, nearly every industry is regulated in a significant way to the point where it makes that response a little more than an eye roll. |
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Posted: 8/26/2024 8:56:56 PM EDT
[#2]
Japanese lost their ass in the 80's on US real estate
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TN, USA
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Posted: 8/26/2024 8:57:18 PM EDT
[#3]
Quote HistoryOriginally Posted By TontoGoldstein: The market will respond to shortages. If that were true, we'd all own Barrett 50 calibers by now, or something equivalent. The demand is certainly there. |
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Posted: 8/26/2024 8:58:27 PM EDT
[#4]
Lots of whiners all up in here. Get off your asses, sell the brodozer, and work the problem.
Rule #1: If you rent, and have a car payment, you're probably doing it all wrong. |
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TX, USA
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Posted: 8/26/2024 8:58:40 PM EDT
[#5]
Quote HistoryOriginally Posted By Burncycle: If that were true, we'd all own Barrett 50 calibers by now, or something equivalent. The demand is certainly there. No it isn't. |
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Posted: 8/26/2024 8:59:18 PM EDT
[#6]
Quote HistoryOriginally Posted By Rem700PSS: What is the positive here for the general population, especially first-time home buyers? Fuck them, what are they gonna do, vote for Democrats? |
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Posted: 8/26/2024 9:00:06 PM EDT
[Last Edit: Lou_Daks]
[#7]
Quote HistoryOriginally Posted By Rem700PSS: What is the positive here for the general population, especially first-time home buyers? I mean, everyone here says "welp, capitalism" but truth is, nearly every industry is regulated in a significant way to the point where it makes that response a little more than an eye roll. My offspring just bought a first starter home. It was north of $1M. Offspring & spouse saved for 4-5 years to get a big down pmt. That's how it's done. |
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MT, USA
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Posted: 8/26/2024 9:00:16 PM EDT
[#8]
Quote HistoryOriginally Posted By Colt1860: Fuck them, what are they gonna do, vote for Democrats? |
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Posted: 8/26/2024 9:00:43 PM EDT
[#9]
Quote HistoryOriginally Posted By nightstalker: Japanese lost their ass in the 80's on US real estate Yup. See my previous post. |
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MT, USA
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Posted: 8/26/2024 9:01:00 PM EDT
[#10]
Quote HistoryOriginally Posted By Lou_Daks: My offsrping just bought a first starter home. It was north of $1M. Offspring & spouse saved for 4-5 years to get a big down pmt. That's how it's done. |
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Posted: 8/26/2024 9:01:36 PM EDT
[#11]
Quote HistoryOriginally Posted By Rem700PSS: Yes. No, that's just rigged elections. Liberals don't exist. That's just a lie that liberals tell us. |
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GA, USA
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Posted: 8/26/2024 9:02:32 PM EDT
[#12]
Quote HistoryOriginally Posted By Rem700PSS: What is the positive here for the general population, especially first-time home buyers? I mean, everyone here says "welp, capitalism" but truth is, nearly every industry is regulated in a significant way to the point where it makes that response a little more than an eye roll. The middle class can go out and live shitty like everybody before them did. We had room mates and we had shitty shacks in the rough part of town and we had 50yr old houses falling apart. Kids these days act like they are entitled to brand new construction, 2000sqft houses with vaulted ceilings, 3 car garage, and an in-ground pool. A "starter home" is supposed to be shitty. 2br, 1 bath, old ass wiring, single pane windows. Thats what young people without great jobs can afford. Thats what they could always afford. Zillow showing 50+ places such as that within 10 miles of my house. Its not that there are no cheap houses. Its that there's no cheap houses that kids these days are willing to lower their standards to live in. |
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TX, USA
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Posted: 8/26/2024 9:03:30 PM EDT
[#13]
Of course we support anyone using QE Fed money to artificially inflate the rental and housing market. We need to end all welfare (except for corporations and foreign nations as they must get government subsidies), eliminate any wage controls and make sure everyone has a solid chance at homelessness.
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Posted: 8/26/2024 9:03:55 PM EDT
[#14]
Quote HistoryOriginally Posted By Rem700PSS: DINKs? College educated? Good paying jobs? They make good $. But they still had to save for 4-5 years to make it happen because of the market they're in. Most dudes on arf want a brodozer, and to play games on their phones instead of buckling down to do the work. That's normal. Most people are lazy, and want immediate gratification. See: Bell Curve. |
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Posted: 8/26/2024 9:04:56 PM EDT
[#15]
Quote HistoryOriginally Posted By BMSMB: Because we aren't in a free market. Quote HistoryOriginally Posted By BMSMB: Originally Posted By Elijah1: Why would you limit the free markets? Because we aren't in a free market. No we aren’t, so why muck it up further? |
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Posted: 8/26/2024 9:05:34 PM EDT
[#16]
Quote HistoryOriginally Posted By giantpune: The middle class can go out and live shitty like everybody before them did. We had room mates and we had shitty shacks in the rough part of town and we had 50yr old houses falling apart. Kids these days act like they are entitled to brand new construction, 2000sqft houses with vaulted ceilings, 3 car garage, and an in-ground pool. A "starter home" is supposed to be shitty. 2br, 1 bath, old ass wiring, single pane windows. Thats what young people without great jobs can afford. Thats what they could always afford. Zillow showing 50+ places such as that within 10 miles of my house. Its not that there are no cheap houses. Its that there's no cheap houses that kids these days are willing to lower their standards to live in. Nice homes are a Constitutional right, right out of high school. It's in the Constitution. It's in there. Read it. |
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Posted: 8/26/2024 9:06:27 PM EDT
[#17]
Quote HistoryOriginally Posted By Elijah1: No we aren’t, so why muck it up further? Kamala's wage and price controls will fix this. |
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Posted: 8/26/2024 9:07:55 PM EDT
[#18]
Quote HistoryOriginally Posted By BB: L O L; so what if a publicly traded property management company built a subdivision of rental homes. Would you have a problem with that OP? Per OP they must be sold prior to occupation. He is saying Zero corporate ownership of Single Family Housing. |
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Posted: 8/26/2024 9:12:16 PM EDT
[#19]
Quote HistoryOriginally Posted By giantpune: A "starter home" is supposed to be shitty. 2br, 1 bath, old ass wiring, single pane windows. Thats what young people without great jobs can afford. There are plenty of places now where a house like that is $400k, and the house is still in a shitty neighborhood. And let me stop you before this gets started, I'm not saying that your experience didn't happen. I'm saying that it's not universal. Just like all the times that people here tell the story about how they worked their way through college 40 years ago so it must still be the same today. |
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Posted: 8/26/2024 9:12:44 PM EDT
[#20]
Quote HistoryOriginally Posted By OregonShooter: Per OP they must be sold prior to occupation. He is saying Zero corporate ownership of Single Family Housing. See my previous link. The TOP 3 corporate owners own 227,000 single family units, COMBINED. In a country of 350 MILLION people. Buncha morans in here. |
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Posted: 8/26/2024 9:13:58 PM EDT
[#21]
Quote HistoryOriginally Posted By Colt1860: There are plenty of places now where a house like that is $400k, and the house is still in a shitty neighborhood. And let me stop you before this gets started, I'm not saying that your experience didn't happen. I'm saying that it's not universal. Just like all the times that people here tell the story about how they worked their way through college 40 years ago so it must still be the same today. Nothing is "universal". Nor should it be. You want universal? Move to Cuba. |
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Posted: 8/26/2024 9:14:09 PM EDT
[#22]
Quote HistoryOriginally Posted By odiedodi: I think it begins and ends with investment firms whaling the resell market of a basic need. I'm not sure where your whataboutism is coming from. I doubt anybody would be alright with them doing it to food and water, but doing it with shelter suddenly causes a lot of arguments in favor of it. Retail Food is an insanely competitive market with very tight margins. The high volume players actually lower the cost of food for Americans vs what a single ownership store can achieve. Economy of scale and all that. |
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USA
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Posted: 8/26/2024 9:15:59 PM EDT
[#23]
The government should not be in the business of picking winners and losers.
If a hedge fund chooses to overpay for a home, the seller wins. Arguably another buyer who the hedge fund was competing against loses, The market should determine this, not the government. |
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Posted: 8/26/2024 9:16:07 PM EDT
[#24]
Quote HistoryOriginally Posted By OregonShooter: Retail Food is an insanely competitive market with very tight margins. The high volume players actually lower the cost of food for Americans vs what a single ownership store can achieve. Economy of scale and all that. Correct. Retail food is 1%-2% profit margin overall. They make a lot of $ on volume because everyone needs food. |
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Posted: 8/26/2024 9:16:39 PM EDT
[Last Edit: Lou_Daks]
[#25]
Quote HistoryOriginally Posted By 999monkeys: The government should not be in the business of picking winners and losers. If a hedge fund chooses to overpay for a home, the seller wins. Arguably another buyer who the hedge fund was competing against loses, The market should determine this, not the government. Boom. Head shot. Example: I had a single family in Portland that I wanted to sell. Very old home, very small, nice neighborhood. I had a half dozen bidders in a couple days. One bidder was a corporate entity. They made a nice offer but got outbid by someone else - a family. The winning bidder came in and immediately bulldozed the place and built a real nice, big craftsman style. It benefited the entire neighborhood. Win win. That's how the market should work. |
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CA, USA
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Posted: 8/26/2024 9:16:47 PM EDT
[#26]
Its cute how many people thing America has a free market.
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Posted: 8/26/2024 9:16:59 PM EDT
[#27]
Quote HistoryOriginally Posted By Lou_Daks: My offspring just bought a first starter home. It was north of $1M. Offspring & spouse saved for 4-5 years to get a big down pmt. That's how it's done. They saved up over $300k in 4-5 years? |
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Posted: 8/26/2024 9:17:13 PM EDT
[#28]
Quote HistoryOriginally Posted By Lou_Daks: Nothing is "universal". Nor should it be. You want universal? Move to Cuba. Did I hit a nerve? When did you buy your rental properties? |
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CA, USA
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Posted: 8/26/2024 9:17:21 PM EDT
[#29]
Quote HistoryOriginally Posted By 999monkeys: The government should not be in the business of picking winners and losers. If a hedge fund chooses to overpay for a home, the seller wins. Arguably another buyer who the hedge fund was competing against loses, The market should determine this, not the government. |
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Posted: 8/26/2024 9:17:28 PM EDT
[#30]
Quote HistoryOriginally Posted By Walkure: It certainly may, depending on whether or not its positive effect dominates over other negative effects. As you point out, there are factors that work against the increased prices stimulating an increase in supply, including: And beyond that, I would point out the most very basic of factors - that real estate is a limited, finite resource. There is only so much land available. High demand in a given area cannot create more supply if there is simply no more land available on which to build in that area. In a free market the houses in that expensive area would be leveled and replaced with a multistory building that can fit more units per square foot of land. That cannot happen due to zoning that excludes high density housing.... |
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WA, USA
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Posted: 8/26/2024 9:17:44 PM EDT
[#31]
Quote HistoryOriginally Posted By Elijah1: Why would you limit the free markets? FPNI. That money provides capital for current markets and drives new home construction. At a time when there is a housing shortage they are investing in the market. Only a communist would think that math makes sense. Meanwhile, the government subsidies special investors to speculate on absurd risks, artificial inflation, then bail them out with taxpayer funds when it blows up. Feel free to squash that part. |
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Posted: 8/26/2024 9:18:28 PM EDT
[#32]
Quote HistoryOriginally Posted By Low_Country: A single entity, subsidized by the government, having a monopoly over a single industry is much closer to communism than arguing in support of anti-trust laws to ensure such a monopoly doesn’t occur. This right here. And I’m a landlord. |
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CA, USA
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Posted: 8/26/2024 9:18:38 PM EDT
[#33]
Quote HistoryOriginally Posted By SamuelAdams1776: FPNI. That money provides capital for current markets and drives new home construction. At a time when there is a housing shortage they are investing in the market. Only a communist would think that math makes sense. Meanwhile, the government subsidies special investors to speculate on absurd risks, artificial inflation, then bail them out with taxpayer funds when it blows up. Feel free to squash that part. |
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USA
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Posted: 8/26/2024 9:19:37 PM EDT
[#34]
Quote HistoryOriginally Posted By Riply21: Except they do every single day Quote HistoryOriginally Posted By Riply21: Originally Posted By 999monkeys: The government should not be in the business of picking winners and losers. If a hedge fund chooses to overpay for a home, the seller wins. Arguably another buyer who the hedge fund was competing against loses, The market should determine this, not the government. You’re correct. But two wrongs don’t make a right. So we shouldn’t look at the government overstepping its boundaries and wish for even more government. |
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Posted: 8/26/2024 9:20:27 PM EDT
[#35]
Quote HistoryOriginally Posted By OregonShooter: In a free market the houses in that expensive area would be leveled and replaced with a multistory building that can fit more units per square foot of land. That cannot happen due to zoning that excludes high density housing.... The government protecting my money isn't communism! |
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Posted: 8/26/2024 9:20:28 PM EDT
[#36]
Hedge Funds/Private Equity Firms are helping the destruction of the West.
They are corporate raiders with better PR. |
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Posted: 8/26/2024 9:20:34 PM EDT
[#37]
Quote HistoryOriginally Posted By zeekh: I've read Blackstone owns 46% of residential housing, by 2030 that figure will be 60%. No idea if its true It's not that is completel bullshit. Blackrock owns a stake in American Homes for Rent which owns 59,000 houses. |
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Posted: 8/26/2024 9:23:02 PM EDT
[#38]
Quote HistoryOriginally Posted By BMSMB: They saved up over $300k in 4-5 years? Yes. By not having car payments, not having expensive vacays, not having dumb-ass "toys", and not doing stupid sh*t with their money. It was tight, and it still is. But they are on their way. Keep in mind they are in an area with higher salaries, but the home prices are higher too. It's all relative. |
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Posted: 8/26/2024 9:23:13 PM EDT
[#39]
Something something opportunity cost of rent vs ownership something something limited supply.
It's alright, we can make a European rent lifestyle if we keep it up. |
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USA
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Posted: 8/26/2024 9:23:22 PM EDT
[Last Edit: DayandNight1701]
[#40]
The older I get, the only difference between communism and capitalism, is under communism, you can't opt out. You don't show up to work, off to the gulag, hence the massive drug use and tent cities in western cities where it's becoming more and more palatable to die, laying in a pile of your own shit with a needle in your arm, than slugging it out for 80 hours a week to afford a roach infested studio apartment and be "civilized"...just my take.
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Posted: 8/26/2024 9:24:16 PM EDT
[#41]
Quote HistoryOriginally Posted By 1Andy2: Clearly the solution is more regulations. Quote HistoryOriginally Posted By 1Andy2: Originally Posted By thesquidliest: We don't have a full-on "free market" for the same reasons we live in a constitutional republic instead of a straight democracy: the population would find a way to fuck each other over. The problem is full-time politicians creating bureaucracies that over-regulate everything. The founders didn't envision full-time politicking. Clearly the solution is more regulations. I'm clearly stating we have too much regulation. Nobody would like it if we had zero regulations on anything, so stop cosplaying like you would. |
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SGP
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Posted: 8/26/2024 9:24:20 PM EDT
[#42]
Quote HistoryOriginally Posted By OregonShooter: Retail Food is an insanely competitive market with very tight margins. The high volume players actually lower the cost of food for Americans vs what a single ownership store can achieve. Economy of scale and all that. |
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Posted: 8/26/2024 9:24:49 PM EDT
[#43]
Quote HistoryOriginally Posted By Colt1860: Did I hit a nerve? When did you buy your rental properties? I turned my first residence into a rental in the late 80s. Borrowed against it for my second, etc. It was rough for years, until it wasn't. No nerves hit.  I did it, so you can too. Or not. It's your choice.
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Posted: 8/26/2024 9:25:54 PM EDT
[#44]
Quote HistoryOriginally Posted By 999monkeys: You’re correct. But two wrongs don’t make a right. So we shouldn’t look at the government overstepping its boundaries and wish for even more government. Yeah, the solution to govt. is moar govt. Said no sane person ever. |
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USA
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Posted: 8/26/2024 9:26:02 PM EDT
[#45]
Quote HistoryOriginally Posted By Lou_Daks: I'm not that rich. There are a lot richer dudes than me on arf. I'm just telling you it can be done. I'm just a po boy who made a modest living. You could too, if you spent less time whining on arf and more time working the problem. Quote HistoryOriginally Posted By Lou_Daks: Originally Posted By Trunalimunumaprzure: And now you're so fucking rich you have nothing better to do than flex on arf. Congrats. I'm not that rich. There are a lot richer dudes than me on arf. I'm just telling you it can be done. I'm just a po boy who made a modest living. You could too, if you spent less time whining on arf and more time working the problem. lol. Don't worry about me sugar tits, I barely post on this place because I have a life and have a damn fine nest egg. I hear there are other threads here you haven't wowed everyone with your presence in so I won't monopolize your time. |
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Posted: 8/26/2024 9:26:02 PM EDT
[#46]
Quote HistoryOriginally Posted By THOT_Vaccine: One guy's definition of a "starter home" is different than the next. Old-ass Sears shacks and WWII tract housing sell for millions in some spots. What's morally reprehensible is the lack of developer interest in building lower cost houses. This is historically the way "The housing problem" has been solved in the United States. It the past, some dude would just buy up 100 acres. Slice it into 1000 Sq ft lots. Throw a million crackerboxes on it and sell them at a 50% markup. I'm not sure why Banks? Developers? Fuck if I know? Where the fuck are the one bedroom crackerbox houses? Townhouses are still being built if the local government allows it. There are minimum Sq foot and set back requirements along with minimum garage size and system development fees that frequently make them not possible to build at a profit or at all. |
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Posted: 8/26/2024 9:26:10 PM EDT
[Last Edit: Jkees]
[#47]
Quote HistoryOriginally Posted By Lou_Daks: Lots of whiners all up in here. Get off your asses, sell the brodozer, and work the problem. Rule #1: If you rent, and have a car payment, you're probably doing it all wrong. Rule #2: Profit off of your fellow Americans making misguided mistakes? |
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Posted: 8/26/2024 9:27:29 PM EDT
[#48]
Quote HistoryOriginally Posted By OregonShooter: It's not that is completel bullshit. Blackrock owns a stake in American Homes for Rent which owns 59,000 houses. Yes. See my previous post & link. Blackrock is #3. The top 3 combined own 227,000 units. COMBINED. But Blackrock is da dibbuk. GD cracks me up. 
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Posted: 8/26/2024 9:29:17 PM EDT
[#49]
Quote HistoryOriginally Posted By Trunalimunumaprzure: lol. Don't worry about me sugar tits, I barely post on this place because I have a life and have a damn fine nest egg. I hear there are other threads here you haven't wowed everyone with your presence in so I won't monopolize your time. Did I hit a nerve? 
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SGP
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Posted: 8/26/2024 9:29:26 PM EDT
[#50]
Quote HistoryOriginally Posted By OregonShooter: Townhouses are still being built if the local government allows it. There are minimum Sq foot and set back requirements along with minimum garage size and system development fees that frequently make them not possible to build at a profit or at all. |
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