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Thread: Short documentary exposing next housing Crisis.

  1. #1

    Default Short documentary exposing next housing Crisis.



    The only difference I see is that the poor are not getting loans. They are living in vans. Those who already have money are buying up the housing to rent at high prices.
    Something that really hit hard is the agent talking about homes going for 60k Now going for 1.8 mil. This is not going to end well.

  2. #2

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    Quote Originally Posted by jjmcwill View Post


    The only difference I see is that the poor are not getting loans. They are living in vans. Those who already have money are buying up the housing to rent at high prices.
    Something that really hit hard is the agent talking about homes going for 60k Now going for 1.8 mil. This is not going to end well.
    Silly peasant, that's not a crisis, that's a wonderful business opportunity! ...for a certain percentage of those who have access to the cheap money markets.

    Snide comments aside, I am seeing large increases in housing prices in many desirable areas. Will the boom continue? Will there be a crash? The moratorium on evictions certainly shook some rental properties loose from some weak hands. A similar shake out of over-leveraged hands happened around 2008/2009. Will there be another shake out of some sort soon? Will that become a regular occurrence until there are no small time property owners left? Is that a flaw in the current economy? Is it an intentional feature? What is the best way to invest in this situation? There are many questions to ask.
    Last edited by SilverPalm; 09-07-2021 at 11:33 AM.

  3. #3

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    Quote Originally Posted by SilverPalm View Post
    Silly peasant, that's not a crisis, that's a wonderful business opportunity! ...for a certain percentage of those who have access to the cheap money markets.

    Snide comments aside, I am seeing large increases in housing prices in many desirable areas. Will the boom continue? Will there be a crash? The moratorium on evictions certainly shook some rental properties loose from some weak hands. A similar shake out of over-leveraged hands happened around 2008/2009. Will there be another shake out of some sort soon? Will that become a regular occurrence until there are no small time property owners left? Is that a flaw in the current economy? Is it an intentional feature? What is the best way to invest in this situation? There are many questions to ask.
    I am sure you can still get A home in Chicago at A reasonable price..... I was told by an Agent to avoid any homes posted on Zillow. I guess Zillow is doing A lot of the bidding up and purchasing of homes that we are seeing.

  4. #4

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    Quote Originally Posted by jjmcwill View Post


    The only difference I see is that the poor are not getting loans. They are living in vans. Those who already have money are buying up the housing to rent at high prices.
    Something that really hit hard is the agent talking about homes going for 60k Now going for 1.8 mil. This is not going to end well.
    many are crying for low cost housing. They don't know the rich people loves low cost housing even more and will snap them up, and rent them back
    Last edited by yellowsnow; 09-07-2021 at 02:05 PM.

  5. #5

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  6. #6

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    [video=youtube;67uW
    Last edited by jjmcwill; 09-09-2021 at 07:53 PM.

  7. #7

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    Quote Originally Posted by jjmcwill View Post
    I am sure you can still get A home in Chicago at A reasonable price..... I was told by an Agent to avoid any homes posted on Zillow. I guess Zillow is doing A lot of the bidding up and purchasing of homes that we are seeing.
    I am seeing the highest price estimates on Redfin. The prices listed tend to be VERY high.

  8. #8

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    As one who is currently looking to purchase a different house, just a house that fits our lifestyle better,
    I gotta say shopping for one in todays market has not been fun. In fact I have stepped back because
    all my effort seems to be an exercise in futility. Mostly because we cannot find the one we like.
    Thomas Jefferson is credited with writing, “When injustice becomes law, resistance becomes duty.” The seceding states in the Civil War period issued a similar declaration using the word “tyranny” as opposed to “injustice.”

  9. #9

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    Quote Originally Posted by SilverPalm View Post
    I am seeing the highest price estimates on Redfin. The prices listed tend to be VERY high.
    I'm seeing the same. Where you could get A decent starter home for between 30-50k You are now seeing 80-100k for A house that had some paint slapped on it in A not so great area.

    As people praise low rates for home loans they seem to be neglecting the fact that they are paying WAY more.
    Last edited by jjmcwill; 09-14-2021 at 04:09 AM.

  10. #10

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    The crisis in housing is that the rich and huge investor groups have unlimited access to capital and can buy all they want, essentially competing with each other for access to capital, has naught to do with housing itself. It's not right. China clamped down on this kind of behavior a little bit to late, but better than never, now here we just keep creating more and more plebes. Next is the government paying the rent money to the rich people as UBI comes in here. The rich are smart, they like income streams and diversified investments. In this case they just use stock market winnings to down payment.

    Kind of a foolish country but hey, world reserve currency and steadfast rule that rich get richer while poor get poorer, thus bailouts as consumer driven economy goes through regular contractions. I have to say, compared to the 400 stimulus check we got back in whatever this last year or two has been like a helicopter drop we never envisioned.

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