The main difference between 08 and now is that Blackrock are buying 10% of the housing market. They decide if it goes up or down
AI_go_boomboom on
Calls on homelessness
skunkyybear on
The demand for alternative investments is driving this trend and as one of the fastest areas of growth in wealth management it paints a morbid picture for home affordability.
LimpTurd on
most unaffordable housing markets in US history, So far.
ArcticStorm16 on
“House market not for peasants” -VisualMod, probably
Allinmoney on
Ima call this the Covid money crash. I worked in car sales during that time making $120k gross 2020-2023. Now I’m gonna commission out like 70k gross this year. But every one that worked at dealerships had 2 years of 6 figures tax returns and 5% a down payment. They not making their $3.5k mortgages anymore. Also people in trucking were making 10k a week And construction is dead rn. No more heloc to upgrade the house at these rates. Now massive tech lay offs?
Welcome to the new era of real estate bag holders.
Potential-Delay-4487 on
Not just in the US, it’s going on all over the globe
four_digit_follower on
I know what to do – more immigration, more tax advantages for everything real estate related, lower interest rates. That should do.
xTofik on
What are these “points”? Another thing is that the chart starts at 1989, so it conviniently does not show the 80’ when mortgage rates were 15-20%
lolstockslol on
So what you’re saying is an economic disaster makes things affordable again?
EvictionSpecialist on
Man… I remember when a SFH at $275K was BALLIN OUT OF CONTROL. this wasn’t even that far back in SoCal.. 1999/2000
Bronze_Rager on
Why does this chart not show before 1989?
ExaltedStillness on
Thank goodness the folks in Washington are talking about giving up to $20k in down payment assistance and California is doing the same – that will surely fix this problem!
b0men on
Welcome to the new normal for homebuying
Fun_Reporter9086 on
The U.S. has nothing on Canada when it comes to home unaffordability.
wsbraveheart on
Check again in 2030
excelance on
Can’t wait to see what a 25K first time home buyer’s credit will do to the market! Records are meant to be broken, am I right?
SellingCalls on
We need a housing crisis.
devereaux on
That’s a major consequence of massive QE and ZIRP. Asset values are heavily driven by capital markets and the size of the monthly payment.
EatsRats on
Just wait for the 60-yr mortgage, people! Then homes will be affordable AF!
/s…kinda
Heavy_Track_6267 on
I was thinking to buy house in Seattle this year. I need to rethink my idea now. Might get 20-30% discount in next 6 month
Maumau93 on
*This is one of the most unaffordable housing markets so far
ficnation on
Same in Italy, where an attending physician makes less then 40k of net income and a good house for a family in a big city is priced >400/450k
Cootswatter on
That is complete BS. My kid makes $180k/yr and can’t afford a house. Pull your head OUT.
28 Comments
Real State only goes up, said someone in 2008…
No shit
The main difference between 08 and now is that Blackrock are buying 10% of the housing market. They decide if it goes up or down
Calls on homelessness
The demand for alternative investments is driving this trend and as one of the fastest areas of growth in wealth management it paints a morbid picture for home affordability.
most unaffordable housing markets in US history, So far.
“House market not for peasants” -VisualMod, probably
Ima call this the Covid money crash. I worked in car sales during that time making $120k gross 2020-2023. Now I’m gonna commission out like 70k gross this year. But every one that worked at dealerships had 2 years of 6 figures tax returns and 5% a down payment. They not making their $3.5k mortgages anymore. Also people in trucking were making 10k a week And construction is dead rn. No more heloc to upgrade the house at these rates. Now massive tech lay offs?
Welcome to the new era of real estate bag holders.
Not just in the US, it’s going on all over the globe
I know what to do – more immigration, more tax advantages for everything real estate related, lower interest rates. That should do.
What are these “points”? Another thing is that the chart starts at 1989, so it conviniently does not show the 80’ when mortgage rates were 15-20%
So what you’re saying is an economic disaster makes things affordable again?
Man… I remember when a SFH at $275K was BALLIN OUT OF CONTROL. this wasn’t even that far back in SoCal.. 1999/2000
Why does this chart not show before 1989?
Thank goodness the folks in Washington are talking about giving up to $20k in down payment assistance and California is doing the same – that will surely fix this problem!
Welcome to the new normal for homebuying
The U.S. has nothing on Canada when it comes to home unaffordability.
Check again in 2030
Can’t wait to see what a 25K first time home buyer’s credit will do to the market! Records are meant to be broken, am I right?
We need a housing crisis.
That’s a major consequence of massive QE and ZIRP. Asset values are heavily driven by capital markets and the size of the monthly payment.
Just wait for the 60-yr mortgage, people! Then homes will be affordable AF!
/s…kinda
I was thinking to buy house in Seattle this year. I need to rethink my idea now. Might get 20-30% discount in next 6 month
*This is one of the most unaffordable housing markets so far
Same in Italy, where an attending physician makes less then 40k of net income and a good house for a family in a big city is priced >400/450k
That is complete BS. My kid makes $180k/yr and can’t afford a house. Pull your head OUT.
Laughs in Canadian
We know