So it's a official, you're part of the housing bubble. How do you feel? Have you seethed? Are you currently dilating?
Do you have any response?
>cbsnews.com
2021-2022 housing bag holder cope thread
Logan Reed
Brandon Evans
I drive through my neighborhood in socal.
I see destitute people on their porches, 300lbs. I see houses with 8 cars parked outside. I see people struggling to pay for groceries. I see the schools are terrible. Homeless everywhere.
These houses are 800k. Surely. Location, location, location!
Cooper Green
The market is always correct.
That's why we give 1.4mil jumbo loans with 5% or less down to people under mountains of auto and credit card debt and 600 credit scores.
We didn't learn shit from 2008.
Gavin Cooper
Not a penny in savings. A slight breeze in the financial markets could crash the housing market.
Daniel Torres
>5% down and a firm handshake is all you need to qualify for a million dollar loan
Jaxon Jenkins
I refused to buy a house after 2008 and Honestly there is no hope for a better life for half of my generation at least. the dream is over
Jason Walker
I mean if you bought a house in 2008 it would now be worth on average twice as much which is like 200k extra bucks you got so that may have been a bad financial decision
Chase Rogers
sorry not sorry
William Carter
The ideal scenario is to be flushed with liquidity when the bubble bursts. Then you can join in on the fire sale.
Elijah Thomas
I wish. But you guys don't understand this market. The only people buying houses now have at least 40k. You have to go over asking price to buy anything right now. I'm about to buy a house for 290k. They we're asking 270k. I went 20k over asking. The VA appraised it at 280k. I got rate locked at 4.25. 28% of homes right now are purchased cash. Housing shortage. I get calls all the time asking to sell my duplex that is not on the market. Guys..... I fear something way worse the a housing crash.... Hyper inflation, and the end of general home ownership.
Owen Martin
All of that is predicated on there never being a recession, joblessness, or lay offs.
You can rest easy knowing all of that is coming as well.
Jack Nelson
Any millennials that didn't buy a house with these record interest rates should own nothing and be happy.
Unless of course you get foreclosed upon once the economy turns to shit.
Eitherway I'm a broke zoomer.
Matthew Sullivan
>bag holder
I literally provide a public service by housing a bunch of fucking drug addicts and losers. Otherwise they would be homeless and threatening other people daily, or perhaps burdening some of their family.
You should be kissing my ass for dealing with those crack-heads!
Elijah Fisher
Damn that would be fucking amazing. I wish I could qualify for loans like those.
Cooper Green
The cut off for buying was mid to early 2020. If you purchased after, you're going to have a hard time.
Zachary Flores
you serious? interest rates on mortgages are probably still like 3% or some shit with inflation at fucking 7% and still probably going to climb.
It's still an amazing fucking time to get a mortgage!
Evan Brooks
You know the federal reserve directly controls all this with it's QE and it's already like -6%+ in real terms? You're trying to draw conclusions from am artificially derived number
But yes there is always a recession coming
Christopher Brooks
That an April fools article though?
Leo Reed
The mortgage rate means jack shit if you can't weather reduced income and keeping your house. Lenders are qualifying people for amounts that lead to them putting every other purchase on credit cards.
>That an April fools article though?
I thought it was funny
Grayson Ross
That interest rate goes on for 30 years and that inflation rate doesn't. I think it's up to 4.6%? Definitely not time to buy
Ethan Gray
>28% of homes right now are purchased cash.
boomer fails to save for retirement
boomer sells 600k house
buys 200k house
boomer is now retired
millennial bag holds 600k house right before crash mortgage will default
Liam Thompson
Every time the housing market "collapses" rent prices basically stay the same or even increase because of all the wagecucks losing their houses and being forced back into renting. Rentals are one of the best investments you can possibly make.
Primarily because we have government backed loan programs for 30 fucking year fixed fucking rate mortgages. No one in their right mind would lend money at those terms, but the bank only has to hold the loan for a year or two before they can sell it to the gov't and loan out the money again. They make a tidy profit every time and it's probably the reason there is a community bank in every single rural berg in America. My town doesn't even have a fucking gas station or a grocery store, but it has a bank.
Isaiah Sanchez
Not really. They’re just going to stop building housing entirely and 6uild 6ack 6etter 2.0 is going to raise property taxes so high that those who aren’t Blackrock with a mortgage will be forced to foreclose and sell to Blackrock. Then we’ll be a nation of renters from our own government through Blackrock
Charles Jones
Look. I wish you were right. But the fact is, if the market crashes, the properties will be consumed by large hedge funds who will rent them forever. You do not own media you stream
You will not own your car
You will not own your home
You will own nothing and be happy. We need an American Hitler more then ever right now.
Lucas Thomas
can't wait to buy a house when this shit be burstin my nigga nigga! skrrrt!
Michael Lewis
Got a 1500SF new construction for 250k @ 3.0%. 3% down.
Hoes mad.
John Evans
do you really think the inflation rate is going to go down? and so what if it does? they earn fucking 3% on their money?
rents always outpace the cost of a mortgage due to the aforementioned gov't backed loans program: socialists have devised this way to enrich the banks and steal people's money while forcing them into renting, there is nothing you can do about it because if you fuck with it, it will collapse the entire economy.
So become a landlord and make sure you rent to leftists :D
Hunter Collins
The people buying houses with cash are boomers with big pension funds/ rental income, they're not downsizing.
Daniel Mitchell
Won't this bubble mostly affect BlackRock and all the investment funds that can handle it long-term? If you're a boomer with housing already I don't get how it hurts you unless you're trying to sell ASAP.
I don't see how this bubble will hurt people in the middle class (or naive millennials who were swindled into taking unrealistic mortgages) the way the last one did in 07-08 but I'm probably a brainlet so correct me if I'm wrong. (I don't own a home, I'm in college.)
Grayson Ward
Age/job/monthly income?
Also are you living with a significant other/family?
Justin Hughes
>Bag holders need BlackCock to keep their home values from going upside down
So this is how globohomo takes over. By issuing shitty loans to retards.
Lincoln Cox
Some boomers are taking about buy to let mortgages.
Jackson Johnson
I have 660,000 in 'savings' and no debt beyond car insurance and a 45 a month cell phone bill.
Lincoln Lee
based user, keep it going.
within 10 years you will be a fucking millionaire if you keep working at it.
Lucas Jones
BlackRock is too big to fail and would get a bailout from the government.
Gavin Powell
Whoa hol' up there fed
jk, the feds already have our IPs cause Any Forums has (((decided))) to ban all VPNs
28/STEM/$4k + part time wife gigs (she doesnt make shit)
I live with parents for 4 years after college and saved up.
Henry Howard
Blackrock is the US government.
Joshua Jackson
BlackRock, Vanguard, etc. They're investment managers. They manage portfolios for clients. They will sell before they see a loss. Bag holders expect them to hold onto shitty investments with a shitty ROI that their clients will hate, because the WWF said so or something.
It's a bag holder cope.
Elijah Ramirez
>do you really think the inflation rate is going to go down?
Yes as does anyone not retarded
> and so what if it does? they earn fucking 3% on their money?
No idea what you're talking about. The interest rate is your cost.. you will be paying a high interest rate until you pay extra to refinance it
>rents always outpace the cost of a mortgage due to the aforementioned gov't backed loans program:
Seems completely unrelated
Jace Cruz
You chose to deal with crackheads. I chose to become one.
We are not the same
Ryan Brooks
Im just wanting to build equity so I can eventually sell, buy land, build my own shit, and be free from the clown world. Its my singular physical "stock"
So far, its been the best bet of my life.
Asher Cooper
Congrats. Most people are broke and have no money saved. Most bag holders have no money left after paying their mortgage, credit cards, and auto loans. A lot of them are choosing between driving and eating right now because of inflation.
Eli Smith
In truth, there are so many goddamn millionaires created by the gov't backed mortgage program in the USA, we should ALL be buying houses and renting them.
buy, repair, rent, repeat
It's going to be a lot harder to cancel you from air travel when you own your own damn jet.
Anthony Young
Join the free men, the wealthy, the landlords.
John Rivera
You are not going to be in able to sweep in and get my a home if there is no a "crash". They will buy all the houses, the prices will stay steady, and you will own nothing.
Samuel Morales
BUT ITS SUNNY
Alexander Stewart
there are always good deals to be found, that's loser talk.
people die, landlords sell off their portfolio, shit happens.
Blake Peterson
So, something that economists and the newspaper people have denied, isn't happening , for months is suddenly been happening and will burst soon or has.