He's right and I'm tired of people being too stupid to understand that you can't build your way out of all of the capital being in the hands of the people who don't want housing to be affordable.
>>60901388Great now let's remove their main investment hypothesis for investing into real estate and making it unaffordable.>DOOD THEYRE LIKE MEGA RICH AND ARE JUST GONNA BUOI ALL THE ASSETS RIGHT INNITYes but what EXACTLY makes this asset more enticing that others? What makes it a good investment?
>>60901388>>60901551His thesis on housing is a midwit take. Most people don’t understand what’s happening unless they understand the mechanics of how our monetary policy work. Housing has become a store of value as the fiat currencies of the world devalue. That’s it. It wasn’t a conscious decision, but rather the slow inevitability over decades since the 1970s. People realized their house was “going up in value” and realized housing was a “good investment” because number go up. Not to mention it’s the easiest way for normies to get into a leveraged position. Once more people wake up to bitcoin being an even better store of value with less friction and broker costs and more liquidity, it will destroy any notion of what people think the real estate market is. I definitely wouldn’t buy any housing for the next decade. Unironically it’s the only asset class people don’t think would pop (they’re looking at stocks and crypto to tank) but it will be THE ONLY asset class to plummet.
>>60901388Housing is expensive because Jews hate us and want us to be eternal slaves. In national socialist Germany families were given a free house if they had 4 children
He has 'crime face' lol
>>60901581thats his whole brand i think, talks like a chav from london but acktually hes a total smart economics guy innit and hes gonna give us the deets on how everything is the fault of THE RICH
>>60901551Ah yesThe rich are willing to continually buy all new housing supply for millions upon millions and never get a return on those investments because supply outstrips demandIncredible
>>60901551If housing is unaffordable when rich people want it and unaffordable when rich people don't want it, it will always be unaffordable and no amount of building will change that. What makes more sense is that it's unaffordable because they want it, and when they don't want it anymore, people will be able to afford it.
>>60901569You're saying what he said. Fiat exploded, it flowed into all assets, including housing. Bitcoin as a store of value diffuses wealth across a larger cohort, which reduces inequality, which pushes less money on a relative basis into real estate, lowering housing costs. You just made his argument.
>OI BRUV YEWS LITTERLY BE MAKIN THE SAME ARGUMENT AS MAY INNIT RIGHT BITCOIN LITERALLY BE THE SAME AS TAXING THE RICH YEA?
>>60901638Is he rich and educated though?
This stupid faggot is bought and paid for by some government subsidized shill group. It's the only conceivable reason why he simps for higher taxes like it'll solve every fucking problem. It's like saying we need to pay the mob more so there's less crime. The braindead normies who fall for it are going to be meat shields in the next George Floyd style peaceful protest
a buddy of mine is putting down 3% on a house to buy it and he's in college wtf is he planning on doing?
>>60902148Poor people just want rich people to “pay more” without knowing where that money is going. The government isnt going to raise taxes on the group that already pays the most.
housing is correcting, it will drop to 2018 pricing
>>60902148>Didn't work from first principles to the conclusion that the main issue with everything in the world is wealth inequality, with taxation and redistribution the most expedient cureSkill issue.
>>60902191*2008
>>60902191Not in desirable areas.
>>60901388>He's rightHe's incredibly fucking wrong.Housing is the most non-monopolized market in the entire country.Companies like blackrock only own 0.01% of the market.Building more housing and abolishing central banking is the ONLY solution to this problem.Japan lets people build like crazy and they have extremely affordable housing.This guy is a midwit leftist and all of this takes are reddit commie tier and should be ignored.
>>60901574>In national socialist Germany families were given a free house if they had 4 childrenThe government still taxed and print money to build those houses, they weren't free you bootlicker
>>60901923You aren't going to solve this without building more houses. It's basic math.This leftist retard supports central banking and fractional reserve banking and wonders why housing is so expensive. LOL
>>60902196>>Didn't work from first principles to the conclusion that the main issue with everything in the world is wealth inequalityBut it literally isn't.You have the same economically illiterate take as a teenage girl on reddit.
>>60901388Another question is why are british people so incredibly far left/marxist?Why do they bootlick the government so much?They're basically slaves.
>>60902279All poor people are leftists and marxists. The west had no upward mobility and huge wealth gap
>>60902286>All poor people are leftists and marxists.because they're low IQ
>>60902273Companies will only build houses for the rich, while the poor will build their own homes wherever they can. They will have their own homes and pay no rent. No need to actively build houses for the majority of the population. Problem solved.
>>60902343Rich leave poors and poors leave rich. Lets do it. I would love to copefarm the poors even more.
>>60902343>Companies will only build houses for the rich,What? Companies that build apartment units build them for anyone. The more that are built, the more prices come down.>while the poor will build their own homesPoor people mainly rent. They don't want to waste their time and money building a home when they could just buy one.
>>60902359Poor people are such a cancer at this point.
over 50% of gdp is government spending in these EU hellholes. nothing good comes of it. And many want more money going to the worst spender of it
>>60901388Build where? Building housing in the Nevada desert along the 15 freeway doesn't actually solve anything.I'm tired of idiots like you not understanding that there's enough houses, but 10M units are being occupied by illegals. You could solve the problem TOMORROW by simply prosecuting landlords who don't ensure they're only renting to legal residents.
>>60902265>>60902268>>60902273>>60902275>>60902279>>60902314You sound mad (and wrong).You solve housing affordability by cutting out the legs of capital and backstopping labor. Building without price controls is a subsidy to builders and a wealth transfer upward.
>>60902540Migrants live more densely so they're not the problem. You're correct that we have enough physical housing and that the problem is landlords who are sitting on property that they're using suboptimally. Maybe some illegals? But mostly Boomer bullshit of varying shades.
Housing being expensive is a good thing, all the things and places that are cheap have become flooded with low life brown people, I live in an expensive area to stay away from those sort and I do not want housing prices to come down and have those sorts of people in my neighborhood
>>60902601>(and wrong).I'm certainly not wrong. :)>by cutting out the legs of capitalThat's not going to do anything when demand for housing outstrips supply. It's very easy to understand.>Building without price controls is a subsidy to builders and a wealth transfer upward.lol so normal market activity is a "subsidy"?Price controls have failed every time.You want even worse housing shortage, implement price controls.It's funny you refuse to acknowledge the actual problem and instead go for band aid patches that make the problem worse.
>>60902620>Migrants live more densely so they're not the problemyes they are faggot, despite living 16 to a house like cockroaches they do still take up housing. The entire political class has been gaslighting us for a decade now claiming immigration doesn't affect housing prices but I'm tired of pretending to believe them.
What a dumb nigger. The issue is supply - it's extremely difficult to build anything in the west because of endless objections by councils and activists who don't want anything built either because it blocks their view, or because of traffic, or because they want unprofitable "affordable" housing, etc. He says that there's plenty of development because he looked out his window and saw some cranes. London has hardly any new construction
>>60902626samea nation of renters. lets go
>>60902798OP and that youtuber are literally part of the problem and get people to vote against actual solutions to the housing problem
>>60902141yeah he was like a trader at deutcsche or somethinghis whole thing is about how the rich take from the underclasses, which is absolutely true, but he *insists upon himself*
>>60901388housing will encheapen over a decade -- think stagnant prices adjustted for inflation, while wages rise. houses never become "cheap", they just slowly become more affordable
>>60902992Interesting. Was he successful or was he there and then left in a month? Guy looks like he belongs in the fields.
>>60902798>You want to build up ask permission>You want to build out ask permission>You want to build way the hell out in the middle of buttfuck county>Ask permissionThey've artificially constricted the supply of housing just because getting permission to do anything is slow af
>>60901388I'm a bit on the edge with this. I think with all the boomers dying, prices could plummet soon enough. But also depends on inflation and if wages will keep up somewhat.I think it's never wrong to own your own place, but I am currently unsure if I should buy or keep renting. I would say in net numbers it's like 20 years of renting = price of place. So renting still fells stupid, it's just throwing away money. Convince me otherwise pls.
>>60901388You should look at China to see how to properly deflate a real estate bubble without hurting the general economy.The problem with a country getting richer is that all the midwits with 50k saved aside will "invest" that money in real estate because the first thought of a pleb making some money is to become a "landlord" to extract wealth from other plebs instead of investing that money in the real economy and helping the development of the nation.Nearly all rich and semi-rich countries in the world have fallen for the trap of "real estate as a forever appreciating asset" which causes two big problems:>younger people are priced out of buying a house and starting a family>the real economy is deprived of startup money, as everyone has most of their money tied in real estate instead of creating businesses or investing in a promising businessAs far as I know, China has been the only country that has managed to prevent midwits from cornering the real estate market and making house prices too high for the average chinese worker.Gary is totally right when he says that you can't build your way out of capital being in the hands of people who don't want housing to be affordable. There is no economical solution to this, the only way is for the state to enact laws that prevent people from overinvesting in real estate and to actively disincentivize house price appreciation.Imo this move by the chinese government was a colossal achievement and has enabled a lot of money to flow from real estate to businesses, and we're witnessing a second economic miracle as China quickly becomes the leader in high-value industries like electric cars, high-end smartphones, chips, graphic cards, solar panels, batteries, etc.If there ever is a big deflation in house prices in the West, we will see how weak our economic model compared to China's really is. It's gonna be painful for all the people with their "equity" tied in real estate but ultimately the economy will benefit from it.
>>60903862This. In China, regular people aren’t up against big firms like BlackRock buying up houses. The government puts limits on hoarding and has rules, like the ‘three red lines,’ that stop shitty developers from taking on infinite debt
>>60903862where can i read more about this?
seems like national socialism is working out for china
>>60904000This is a good start.https://en.wikipedia.org/wiki/Chinese_property_sector_crisis_(2020%E2%80%93present)It's funny how the fact that real estate prices are not forever rising is framed as a "crisis". In China the home ownership rate is 96% while in Western countries like USA and UK it's 65% and 64% respectively.
>>60901388>Americans complain about expensive housing>look on zillow>affordable houses everywhereYou're just too entitled.
Just kill half of the population and prices go down.
redirect all that money into crypto. ez.
>>60902798>The issue is supplythe issue is credit availability. you could legalize 8 story 100 square foot plywood microfavelas on superfund nuclear waste sites and mentally retarded subhuman nigger cattle would instantly bid up the price to $500k because they're funding it with 99.9% LTV 40 year loans on a 70% pre-tax DTI.if you want affordability you need to crush credit availability. all the supply in the world won't fix affordability until you fix credit availability.
>>60904280>the issue is credit availability. you could legalize 8 story 100 square foot plywood microfavelas on superfund nuclear waste sites and mentally retarded subhuman nigger cattle would instantly bid up the price to $500k because they're funding it with 99.9% LTV 40 year loans on a 70% pre-tax DTI.>>if you want affordability you need to crush credit availability. all the supply in the world won't fix affordability until you fix credit availability.the only sane, non-nigger, >80IQ response in this entire thread
>>60904296it's literally the same problem that is plaguing the automobile market and these subhuman nigger retards are too stupid to recognize it.
>>60904039>>60903862another high IQ post right herei hate Gary and his fake demeanor and lying>yea bruv its the rich bruv innitfuck off. this stupid wanker NEVER mentions the influx of NIGGERS and SHITSKINS and PAKIS By the boatload, because >bruv its the rich bruv they want us to fight amongst ourselvesi wish I could lace a burning tire around his neck
>>60904307'e does mention them but he will say they're "Just Like His Friends, Mate", they also suffer!you know it's all an act because he acts the way a poorfag would expect himself to act if he suddenly became richYer mate Im gunna chaynge da werld innit bruv its proper unfair innit m8 Im so rich mate and since Im rich I see my friends suffer mate. Bruv everyone is like my friends mate theyre joost like them theyre Joost Like Moi Friends Mayte. Theyre all soofering because of dese wich peepo mayte>>60904039Thanks
>>60901388>Flood the country with low-skilled migrants.>Increase taxation to unsustainable levels to subsidise migrant rents.>Slum landlords increase in number to take advantage of the government scam.>Tax is too high so it scares entrepreneurs away from investing in the country. >No industry for migrants to work in.>Not financially viable to build houses for low-skilled jobless migrants. >Multiple occupancy homes start popping up filled with Deliveroo drivers and car washers.Why is housing so expensive?
gary's, ahem... ''argument'' can basically be boiled down to this, in every instance "hi gary how are you">Bruv im spang ting nong nong blud>But my friends mate>Everyone is suffering mate look around you>Do you know anybody who (...)>Mate they're too rich it's too unequal mate>What about my friends mate?>Yeah I'm good. I have millions. I can afford food. Im eating good."...but Gary, if you do something like tha-">But what of my friends mate?? Theyre sufferin mate??>Everyone is sufferin mate look at the gas price look at the food price look at the rain coming from the cloud mate>And what are YOU dewing???>at least *I*'m here to do something mate"Gary, about the recent surge in energy prices. What do you thi-">Its 80 degrees F mate everyone is suffering mate look around you>Mate the sun is rising again tomorrow cant you see people are suffering all around you>Night, day, night, day. mate, it just keeps going. Its like a cycle>it just doesnt stop mate>Like clockwork, and trust, Im getting to the bottom of this>Trust mate, I am. Cause my friends are all suffering mate it's all I can do>There's only one solution mate my friends are suffering mate, look around you>Tax the rich blud, pewiod mate innit bruv nonch
CRUMPPEEEEEEEETTS INNIIIIIIIIIIIIIIIIIIIIIITHAVE IIIIITTTTTTTTTTTqueen's MEAL!! BOSH!!!!!!!!!!!!!!!!!
Lmao don’t you all realize that you should all be taking out the largest loans for mortgages you can right now? The entire western currency is going down the toilet, in a few years you will pay off those mortgages with like an ounce of silver or 1 Link (which will really prove how worthless fiat has become)
it's so tiresomeevery retard knows it's the govt behinid this foolthey always send these shills out into the world to "protest" something. they dont protest anything. theyre just agents to accelerate what the state wantsgary is no different from these 'stop oil' morons, the greenpeace retards, or basically everything else you can imagine. like anti-nuclear psyops throughout the 60s-80s. causing the fucking fall of europe. and now they want to tax the rich so they can continue to spend money in the worst way possiblei seriously cant believe nobody insane has gone on an elite killing spree yet
a thing that's important to get when dealing with communists is that they are supply and demand denialists (took me a little while to figure out)they either completely reject it or they slightly compromise by asserting that S/D may have a temporary effect on prices but that it's irrelevant in the long termso no amount of normal conversation will ever suffice because they religiously deny one of they key drivers of price discovery in any assetinstead they believe that all other variables being equal, labor is the only thing that mattersin their theories, if you had 2 mines where the difficulty of extracting ore is identical but 1 mine had gold ore and the other had coal ore, the true valuation of both ores by mass/volume should normally be identical; if not it is because of irrational and harmful behaviors such as speculation
>>60901569two things you missed.1. the government gives TAX INCENTIVES to people who borrow money to buy rental properties. this is criminal and inflates housing prices.2. housing prices increasing is really just inflation. i know that's kind of what you said but not exactly. you said housing prices go up BECAUSE of inflation, but i'm saying housing prices going up IS inflation. grocery price rises are delayed because rich people get the injected money first and at a greater proportion, and what do rich people buy with their extra money? they don't buy more groceries, they buy stonks and housing. the reason i say this is because there are still midwits who measure inflation with grocery prices, when it's much more honest to simply look at the rise of housing prices against the rise of wages. unless you're retired, in which case rising wages don't matter for you.
>>60904345>increased taxation>taxes too highwtf are you talking about you fucking retard. taxes for everyone, especially the rich and the business owning class, have gone down over the last 10-20 years. QBI/SSTB didn't exist until the TCJA. the top bracket rate on individual income has gone down considerably since the 1970s. bonus depreciation was introduced in the early 2000s. etc.
>>60902177>The government isnt going to raise taxes on the group that already pays the most (in bribes).fixed it for you.
>>60903862i'm not against higher taxes on investment properties, but lower taxes on homesteads can accomplish the same thing, and probably both can be done at the same time. if my neighbor's house gets sold for a huge amount to some rich faggot, now all of a sudden i have to pay more in property taxes, which makes me more likely to sell it in exchange for a cheaper property somewhere else, slowly moving all the good properties to the rich. if property taxes are lower on homesteads that means a person looking to buy their first house can afford to spend more, because a property without a tax burden is less of a liability. if homesteads are untaxes, then any given house is more valuable to a regular person who doesn't have to pay taxes on it, than it is to a company that has to factor the property taxes into what they are willing to pay.
>>60904429>inflation isn't inflation, inflation is actually my arbitrary opinions
>>60904505inflation is an increase in the money supply. the money supply increase at different rates in different areas of the economy. rising real estate prices happen because of an increase in the supply of money in real estate. so yes, it's inflation. i say it this way because it hits home harder to normalfags, while still being technically accurate. but feel free to keep doing the contrarian thing.
>>60901388You can. Deportations would help too.
>>60904039>In China the home ownership rate is 96%Chinese don't own their own homes.The government does
>>60903862RetardThe only reason their bubble has deflated is the fact they radically increased supplyUnlike the west.
>>60903892>big firms like BlackRock buying up housesThey own 0.001% of homes.Why do you people fall for blatant misinformation?
>>60904006How? The people live in poverty compared to taiwan.How is total failure considered a success?
>>60904886>Chinese don't own their own homes. The government doesYes, technically in China you lease your house from the government for 70 years and have to either renew the lease or give back the property once the term is over. But guess what? There are no property taxes in China. Once you obtain the lease, the government will not bother you for the next 7 decades.Meanwhile, in muh free USA you have to pay between 1% and 2% of your property value in property taxes each year to the local government and your property will be taken away from you if you fail to do so.The argument of "le china not le free market" is just dumb. If anything they have stronger property rights than a lot of western countries.
>>60904443The guy in the OP is British you fucking retard.Go find a tree and some rope and make yourself fucking useful you stupid cunt.
>>60902704>I'm certainly not wrong. :)Lol>That's not going to do anything when demand for housing outstrips supplyGood thing it doesn't. Affordable housing shortage (real) != Physical unit shortage (fake)>lol so normal market activity is a "subsidy"?You fell dor my trap card. Obviously price controls are not the answer. The good thing is that you also don't need to subsidize builders because there is no shortage. The building and real estate lobby have been successful in convincing useful idiots of the falsehood that we need to build millions of new homes even while units sit empty in cities and suburbs across the country (investment properties or warehoused by corporate landlords) and tens of millions of Boomers live alone in 3000sqft McMansions, drawing on reverse mortgages that they're never going to pay back. Deflate the housing market, disincentivize antisocial use, and these problems go away. You don't even need sweeping changes across the entire market; just relieve these pressure points, and you'll see a cascade effect. And you won't have to put one red cent into the pockets of hacks who want to sell you a pile of glued-together woodchips for the total and complete remuneration of 20 years of hard work at the median wage. Fuck all of that noise.
>>60905015*Activated my trap cardOr*Fell for my trapChoose as you like.
>>60904374>every retard knows it's the govt behinid this foolEvery accusation is a confession.
>>60904892>The only reason their bubble has deflated is the fact they radically increased supplyNope. The fact their bubble has deflated is only because of the government deciding it was time for it to pop. The move was entirely political:>In 2017, Chinese Communist Party (CCP) general secretary Xi Jinping's administration started to tighten the real estate market based on the principle that "houses are for living, not for speculation."New rules were issued in 2020. They stated property should adhere to the following rules:>Liabilities should not exceed 70 percent of assets (excluding advance proceeds from projects sold on contract)>Net debt should not be greater than 100 percent equity.>Money reserves must be at least 100 percent of short term debt.This basically killed overleveraged property developers like Evergrande and made sure people stopped piling money into real estate as a speculative asset.
>>60904892The vast majority of their "supply" was unfinished concrete towers that no one was ever going to live in. The reason their bubble deflated is because their government didn't backstop the corrupt corporations and unfortunate investors/homeowners who went upside down on their financials; they cut them off and slowly wound down operations while making sure panic didn't spread. Evergrande was finally delisted like a week ago, years after execs were stripped of their wealth and positions and after the protests where investors were told, "Sorry, you're not getting anything," while making sure homeowners stayed in the houses they were actually living in. The equivalent would have been US authorities letting Wells Fargo et al. fail, putting Goldman Sachs execs et al. in jail, and buying up and selling foreclosed housing at steep discounts en masse after letting the housing market collapse initially. Everyone who overextended would have been fucked financially, but people wouldn't have been living out of their cars and Millennials would have been able to afford to buy.
>>60905085>>60905041Why don't you people attack the cause of these bubbles(central banking, fractional reserve banking, zoning laws and regulations that restrict building) instead of focusing on band aid "solutions"?
>>60905144China has a central bank and still managed to fix it because there was the political will to fix it. What's your excuse.
>>60905172>still managed to fix itThey're still royally fucked and their economy is shrinking now because of it.Also, the central bank CAUSED the problem in the first place.
>>60905193>their economy is shrinking nowlmao never change /biz/
>>60905144Happy to see that you've expanded your causes to some of the actual ones instead of just the "build more" canard, which is still wrong. Gary's wealth tax (remove money from the economy, specifically from the people who are pumping assets and can afford to lose wealth without causing a massive humanitarian crisis) is one side of the solution that is altogether "right-sizing the money supply." The other half, as you say, is dealing with money-printing on the banking side.That's the macro side; zoning is more important for making planning going forward solvent as infrastructure ages, demographics change, and the global order shifts. Neither it nor building can solve housing affordability on their own, but they ARE important to consider in terms of quality of life and general municipal solvency. That goes alongside things like transit reform (away from car-centrism) and energy policy (towards independence).
>>60904443tax has gone down for the richest, but has gone up for middle class.
>>60902196Retarded poorfag alert
>>60905199>he doesnt know china openly manipulates their gdp numbersAll of those collapsing ghost cities are included in GDP>>60905239>Happy to see that you've expanded your causes to some of the actual ones instead of just the "build more" canard, which is still wrongIt's incredible how retarded you people are.You don't even believe in supply and demand.You're basically like economic flat earthers.You see countries like japan and south korea with very lax building regulations and they have an abundance of housing with cheap prices and just ignore it because it doesn't suit your ideology.Do you honestly think if we tripled the amount of housing in this country that prices wouldn't drop?lmfao
>>60905239>Gary's wealth tax (remove money from the economySo basically destroy the funds for new capital projects and give it to the extremely wasteful government instead of just destroying the root cause of the housing bubble(money printing)?It's incredible how retarded you bootlickers are.>(away from car-centrism) KEK found the car seething redditor. You people are all the same with the same retarded politics.
>>60905239Why would you prefer public transportation over your own fancy car?
>>60905611Kek he is poor. lol hahahahhahahahah
>>60905611>So basically destroy the funds for new capital projects and give it to the extremely wasteful governmentGovernment pays off debts so that interest payments on treasury notes don't eventually bankrupt the entire country. Money goes mostly overseas to bondholders which gets all the countries we exported our inflation to off our backs. >instead ofThey're the same thing. Stay with me here.>>60905604>It's incredible how retarded you people are.It's always funny how you have to reinforce against your insecurities by voicing your projection. Tip: Keep it to yourself and people will question their own intelligence unprompted; say it out loud and people realize that you're... Oh, well, let me follow my own advice. :)>You don't even believe in supply and demand.>He doesn't know what ZIRP and stimulus does to the demand side.>South KoreaSomeone literally made an Academy Award-winning drama about the fraught nature of South Korean real estate, bro.>JapanDensity + heavy limits on foreign ownership + (oh boy this one's gonna hurt ya) ease of access to public transit which makes the bidding up of desirable locations moot. Please also understand that this is AFTER the bursting of the bubble, the height of which saw the land under the imperial palace valued at up to $5 trillion in 1980s dollars. Break. Capital's. Legs.>>60905616Sharing the road with incompetents stresses out my driver.
>>60905710You dont have a driver. Cant back track now that you have mentioned “car-centric.”
>>60905710>Government pays off debts so that interest payments on treasury notes don't eventually bankrupt the entire country.Them getting into debt in the first place was their fault. Why should the rest of society bail them out?>projectionWhere? I'm 100% correct. :)>>He doesn't know what ZIRP and stimulus does to the demand side.That's one of my main arguments. The demand comes from the endless money printing going into mortgage finance.>Academy Award-winning dramaLOL Not a fucking argument. What the fuck?Housing in those two countries is far cheaper than here. Especially in major cities like Toyko.You are coping and seething over reality.>DensityYes, my argument exactly. They generally let builders build and densify without regulations.>heavy limits on foreign ownershipkek this is like 1% of the market in usa and canada. what an idiot lol>ease of access to public transitThis has very little to do with housing prices. Quit changing topics to your government bootlicking fetish because you saw a few adam something videos.>which makes the bidding up of desirable locations mootlol you actually are a flat earther.You really think it's not more desirable to live in big cities than in the suburbs in japan. There is still a premium paid on more desirable locations, moron.Do you unironically think Japan having much more homes per capita has absolutely nothing to do with their cheap housing costs? Are you actually retarded? Honestly answer.>Break. Capital's. Legs.This is what I am advocating for. You however want them to keep making trillions by endless money printing and bidding up houses because you hate yourself and society.
>>60905815>Cant back track now that you have mentioned “car-centric.”He's one of those anti-car redditor pedophiles that want everyone else to suffer like he does because he's too retarded to learn how to drive a car.It's funny that these communists don't understand that private capital originally built all of the "public transit" in America.
>>60905953> Do you unironically think Japan having much more homes per capita has absolutely nothing to do with their cheap housing costs? Are you actually retarded? Honestly answer.Why would you want more housing density?
>>60905960>Why would you want more housing density?Because I want lower housing costs?
>>60905953Youre fucking stupid. People come to USA because of the big houses and lots of space. Sometimes people ask>if China is so great, why do they come here?Because the rich ones come here to big houses and have lots of space. >>60905955Or he just lives in a cramped neighborhood. Read his recent posts. He wants density. lol
>>60905972More density doesn't mean you still can't have large houses. It just means there are more housing in the same area. It means less people would be demanding the big house you want so you can afford it more.
>>60905963IWhy would any winner want lower housing costs and have neighborhoods full of broke losers?High housing costs keeps the riff raff out.
>>60905982That is not good for already established people.
>>60905982And these new houses you are talking about? What is the target? Middle class?
>>60905982> It just means there are more housing in the same area.Wtf?? So you want to diulute existing homeowners with poor people in their neighborhoods.
>>60902265Japan housing is affordable because they’re losing a million people per year while western countries are importing millions per year
>>60905982I wouldn’t want my neighbourhood to get bigger with more cheaper houses and poor people moving in.
>>60905815>Better public transportation>Fewer people on my roads>Less traffic for me>Less stress for my driver>One small bit of noblesse oblige that makes life better for people with money as well as those withoutThink.
>>60906031Less cars. I live in a top tier city in a prime location. I drive. Idk where you live but it doesnt get better this. You probably live in some modern working class cramped area.
Guy is just pushed by algo for brainlets/mid wits. Safely ignore. (Like everything on youtube)
>>60906069I love calling everyone in the comments a brokie loser. kek
>>60906088They very much are.For anybody to rich there needs to be lots of poor. I don't know why retards think you can change that lol. Brokies are funny, and in UK its very bad cause the quality of life when u are poor is fucking grim here. > 7 fig fag. Would top myself without it.
>>60905953>Them getting into debt in the first place was their fault. Why should the rest of society bail them out?Only rich people are bailing them out, which would frankly be reciprocal.>Housing in those two countries is far cheaper than here.Not South Korea. Especially not in Seoul (you need to live in Seoul). Prices are inflated, to an onerous amount for local incomes, and even rent isn't protective because of jeonse. Hence, Folding Pizza Boxes and Scamming Yuppies: The Film.>kek this is like 1% of the market in usa and canada. what an idiot lolPrices are set at the extremes. That 1% drags everything up because they have far, far more capital to deploy than the average American.>This has very little to do with housing prices.Picrel>You really think it's not more desirable to live in big cities than in the suburbs in japan. There is still a premium paid on more desirable locations, moron.It's not as huge a premium in the US because robust public transit lowers the time and convenience penalty of not living in the city center. Some Japanese managers/execs take the bullet train into work; that's at least one residential unit (more if subdivided) less of pricing pressure in Tokyo, which shrinks the national range (since Tokyo prices are the highest). >Do you unironically think Japan having much more homes per capitaMath time! There's about 660 sq ft of residential space per person in the US, versus 680 in Japan. They have about 3% more space per person, but 10% more units (0.42 versus 0.52). They are more economical with space. Hence, density.
>>60906146>>60905953>That's one of my main arguments. The demand comes from the endless money printing going into mortgage finance.You're doing that strange conservative thing where you agree with me on the parts that matter and swerve towards batshit insanity at the last second, when logic would require you to acknowledge that progressivism has it correct. >This is what I am advocating for. You however want them to keep making trillions by endless money printing and bidding up houses because you hate yourself and society.>the solution that is altogether "right-sizing the money supply." The other half, as you say, is dealing with money-printing on the banking side.You're losing it, bro. Come back, this is fun.
>>60906043>Less carsFewer cars. I won't stop until everywhere I want to go is a straight shot with zero traffic and ample street parking so my dude doesn't have to circle or find a garage, even if I have to force every person making under $250k to travel primarily by clean, safe, frequent public transit and ample biking infrastructure.
>>60906146*premium as in the US
>>60906146> That 1% drags everything up because they have far, far more capital to deploy than the average American.BASED. the 1% ARE the Americans. The country survives off the back of the 1%.
>>60906146Based one percenters.
>>60904280It's the same reason why school tuition in USA is endlessly going up: super easy access to student loans. People will take $300k student loans for graduate degrees because they can, which means universities will raise their tuition to 300k.
The 1% made their wealth through consensual transactions meanwhile immoral commies seethe and advocate for theft
>>60906263The rich will keep getting richer The line has been drawn. There are rich and poor people now and the gap keeps getting bigger.
>>60904935The Chinese gets their taxes through other means. If you don't pay China your taxes they will also take your home. It's the same shit.Anyway yeah the average Chinese gets taxed less than Americans
>>60905199Didn't China print a shit ton of stimulus when Trump's tariff war began this year? Of course the economy would expand, just like how the economy artificially expanded during COVID quarantines thanks to inflation/stimulus.
>>60906303They are not even close to doing anything the USA has. That is why USA stopped fucking with China, China still has a bazooka of stimulus. Usa doesnt.
>>60905604>south korea with very lax building regulations Yes, relatively>and they have an abundance Kind of, but the vast majority of South Koreans live in one city (Seoul) so there is a shortage>of housing with cheap pricesSouth Korea is experiencing one of the worst housing bubbles in the WORLD right now. It's nothing like Japan.
>>60906317>China still has a bazooka of stimulus. Usa doesnt.We will have to see what the Fed will do once its directors get replaced with Trump fanboys. We might be getting COVID-level stimulus so Trump can point to le meme "GDP growth" numbers and say America is doing great.
>>60906341> fanboys. We might be getting COVID-level stimulus BASED.
>>60901388BUILD MORE HOUSES>noo my property value will go down, I can't sit on my ass and earn money nooooooBUILD MORE UNTIL YOUR BEHIND BUSTS OPEN YOU GREEDY LAZY ENTITLED LANDLORD
>>60906359Yeah it is pretty based for people that has the money to invest in things such as ourselves. Won't be as nice for people living paycheck to paycheck
>>60906378A rising tide floats all boats. Those wagies have more job opportunities now.
>>60906386perhaps
>>60906394Covid stimulus got a lot of ppl hired. Obviously wealth gap will still grow.
>>60906402Yeah I don't disagree
>>60905989I don't care. The bubble has to be pricked at some point.>>60906007>Wtf?? So you want to diulute existing homeowners with poor people in their neighborhoods.Yes. That's how people escape poverty.
>>609062712008 bailouts.>>60906318>Yes, relativelyI always think about the mall where the owners were informed that it was structurally unsound and left the building a few minutes before it collapsed without telling any of the tenants or customers.>>60906386>Unironic Reagan-style trickle-downMy god, zoomie.
>>60901388this guy is the kind of grifter that only the dumbest idiots pay attention to
>>60906520One major builder of apartments in South Korea got caught last year cheaping out on adding rebars to the concrete, so the newly built apartments were crumbling as people were moving in.
>>60906146>Only rich people are bailing them outWhen there is less cash for investment in the economy, the poor suffer.>Prices are inflatedNot nearly as much compared to the west. It's not even comparable.>That 1% drags everything upMost places it's like 0.1%. It's probably 1% in Vancouver.These arguments are dumb. 1% of foreign buyers don't magically create the entire housing bubble.>PicrelProves my point that location gets a premium when it comes to housing prices.You okay?>It's not as huge a premiumSo there is a premium? I accept your concession.>but 10% more units (0.42 versus 0.52).Which is my point. They are allowed to build more and in more dense/efficient ways so the prices are lower.Why do you keep proving my point?So building more results in lower prices.So supply and demand is real and you ARE a retarded flat earther?lol>>60906152>You're doing that strange conservative thing where you agree with me on the parts that matterI'm a Libertarian, not a conservative.and no, you don't agree with me at all. Leftists and liberals are the biggest supporters of central banking/fractional reserve banking and money printing in general.The housing bubble is mainly their fault.>batshit insanityIt's extremely sane.In fact it's the main problem.You honestly think printing trillions of dollars and injecting it into the housing market through mortgages has no affect on housing prices?Literal free money out of thin air massively bidding up prices doesn't affect prices?>progressivism has it correct.The ideology that gave us the great depression, endless money printing, poverty, extreme levels of government control over our lives?You people are just sociopaths, admit it.>You're losing it, bro.You lost on every point we talked about man lol.Just stop being such a bootlicker.
>>60906520>>Unironic Reagan-style trickle-downholy shit you're actually a midwit lolImagine thinking trickle down economics is real, or has been implemented at any time or that reagan supported "trickle down economics" or that the size and scope of government isn't massively bigger than under reagan.
>>60906529>this guy is the kind of grifter that only the dumbest idiots pay attention toHe's basically hired by the government to give them more taxes and power over your life.and you wonder why the uk is such an unproductive shithole nowadays
>>60902359>Companies that build apartment units build them for anyonelolno, developers desperately try to avoid building anything besides "luxury" units. the play is to build "luxury" shit, fill it up by offering concessions on the lease where people are at a nominally high rent (a.k.a. the "market" rate which of course is made-up horseshit) but get x weeks off, then sell the building to a reit for $$$$ based on the value of the rentals w/o concessions. even if they agree with the city to build "affordable" units or section 8 shit, that almost never happens, and governments don't really care because the higher the value of the building, the more property tax they can collect after whatever tax break they gave to developers sunsets
>>60906556>try to avoid building anything besides "luxury" units.The building of luxury units still lowers the cost of all units because those people move into those units, leaving their own units behind to be rented by someone else.>a.k.a. the "market" rate which of course is made-up horseshitlmao so you don't believe in supply and demand? HAHAHAWhat happens when rents fall?(happens throughout history and varies in different areas)
>>60901569Housing is a real resource. Enjoy eating your bitcoin when microplastics have made all else inedible.
I want some Pakistani to kill him. Fucking commie scum
>>60906569the reason why I put luxury in quotes is that they're average shitass buildouts with nothing special. true luxury builds (i.e. concrete + rebar, gas stoves, nice appliances, decent soundproofing) are exceedingly rare, and are usually condos or luxury hotels. the units that people leave may or may not get rented out but will likely remain the same rate. to greystar (if I have to explain who they are to you, you shouldn't be having this discussion) and other big management companies, they would rather have a lower occupancy at a higher rate than a higher occupancy at a lower rate, for various reasons, which is why people are starting to talk up vacancy taxes, which won't happen rents only fall in extreme scenarios where there is a mass exodus from the city, like in austin where rto + people not being able to stand the shit summers made a lot of people who moved there during the pandemic leave. but that only caused a dip in the price of "high end" units, while lower end ones continued to rise, because almost 90% of all builds in the last few years have been "luxury". yet a lot of retards took that as austin somehow building their way out of high housing prices even tho they have not
>>60906617>yet a lot of retards took that as austin somehow building their way out of high housing prices even tho they have notHow have they not?
>>60906638did you not read the rest of that paragraph
>>60906642>while lower end ones continued to riseYeah I'm gonna need a source on that?I hear austin was a good example of allowing building to lower prices.Also rents fell dramatically after the 2008 financial crisis.
>>60906642>>60906662austin's population is the same as in 2021 yet prices are still lower
>>60906617
>>60906686owned
>>60906662this https://www.pbs.org/newshour/show/why-lower-income-renters-in-austin-are-struggling-to-find-affordable-housing and this https://www.kut.org/housing/2024-12-19/austin-tx-area-renters-housing-costs-income both talk about it. basically if you're seeing a dip in averages but people with lower incomes are paying spending more of their income on housing, the price for lower end housing is going up. I know that austin has been working on adding more affordable units in the last couple of years but I dunno if there's any data for 2025>>60906686yeah you can have a dip in the high end while the low end stays the same or go up, and see a dip in the average, especially when the high end represents a disproportionate part of the market. so the average comes down, but affordability still hasn't been solved for. you just get more bang for your buck at the $2.5k/m level
>>60906752>basically if you're seeing a dip in averages but people with lower incomes are paying spending more of their income on housingHow does that make any sense whatsoever?Average rents are down? Yet the average person in paying more?WHAT?>the price for lower end housing is going upHow does that make any sense? If middle income people are moving from their units to new units, what happens to the old units they left? People rent them.>I know that austin has been working on adding more affordable unitsWhat exactly is an affordable unit? A unit intentionally made to look like shit? All units can be affordable if enough of them are built.
i don't know why the fuck people are buying homes right nowits like 400-500k for a starter home where i live (las vegas)assume you put 3% down, 6.5% rate on a 450k home>14k down >2400/mo interest>150/mo PMI>50/mo home insurance>50/mo HOA>250/mo prop taxthat's 2900/mo in coststhen you have to contribute 400/mo in equity paymentsif you're married, these deductions don't put you over the standard deduction... if you're single, your benefits are 350/mo at best, meaning you're still paying 2550/mo to "rent" the placeyou are on the hook for all repairs/maintenance. home needs exterior paint or the HOA threatens to fine you. yard needs clean up or the HOA threatens to fine you. if the A/C fails, or any appliance fails, it's on you to replace it. and if you want to sell and move elsewhere, realtors will rape you for ~20k to list it on the MLS. meanwhile you can rent the same house for 2200/mo, don't have to put 14k down as a deposit, don't have to pay people 20k to move, and aren't on the hook for any maintenance/repairsit might have made sense when homes were appreciating, but they're not anymore in most markets, and won't until rates are back to the 4% range
>>60903707>They've artificially constricted the supply of housingTo keep the prices up? Because populations shrinking. If not in total then at least in deafferent regions.
>>60907356Your right, its actually very simple why this is the case. The rates doubled and they all refinanced for half of what you would have to pay in interest now. So if you rent, potential landlords have to compete with others who also got their property at 3% interest. Proof that this is true is easy to find, how many people are actually making money getting a loan to a rent out a house at CURRENT interest? Practically nobody.
>>60901388He's an actor. It's immigration and lending. Everything else is misdirection.
>>60902798>it's extremely difficult to build anything in the west because of endless objections by councils and activistsGood. Nature should be protected instead of importing 10 gorillion pakistanis and concreting over the countryside.
>>60907583it's definitely lending, in other words, the rich buying your debt as an asset. governments also take their money, which means you not only pay back your debt with interest to the rich directly, your tax dollars go into servicing government debt as well. as for immigration, that's mostly a scapegoat, these immigrants do compete with you, but they don't have the money to do it on any scale, not at the level the reinvestment spiral of the rich provides
>>60901569I really do wonder if the Chinese oligarchs would've bothered buying up half of Vancouver in the 90s and 00s if buttcoin was a major thing back then. Crypto is one of the safest assets to own if you do it properly, it can literally be stored in your head by memorizing your keys.What I'm noticing here in New Zealand is that land value is crashing, but the price to build is climbing relative to that.
>>60906011Wrong you stupid fuck, Japanese cities are growing at a steady rate yet prices have remained the same (ignoring general inflation)It's the countryside that is losing people
>>60901388>you can't build your way outYeah you can, you just need to build cheap housing. If your country is broke that's the only solution. Stop pretending you're still first world and start building commieblocks because that's the level you're on
>>60907593The population would be shrinking without immigration. There should be a shortage of buyers but with immigration there's a shortage of houses. That means buyers are competing and the floor for house prices is set at the maximum loan people can get.
>>60902148Everyone who gets algorithm pushed on youtube that much is a shill. There aren't exceptions. It's really obvious with Gary because he just sells WEF/Labour nonsense in a package that is appealing to stupid young people and women in particular. >>60902798We don't need to build houses we need to DEPORT 20 MILLION + SHITSKINS. Gary never mentions immigration because it's highly inconvenient to his shilling. Nor does he mention (((central banks))) diluting the savings and wages of his loyal wageslaves. When you're a midwit marxist, every problem is capitalism, and every solution is taxes. That is Gary in a nutshell, and why he is being pushed. The regime in my country (UK) want to crush productive and aspirational people under taxes, immigration, and "equality" laws such that no one owns anything and everyone is an equally poor wageslave.
>>60907711even without immigration, there would be no shortage of buyers. ever wonder why there are empty houses without any renters in them? some rich investment firm bought them, as an investment. those are the people you are competing with, that drive up prices. not people that have a genuine interest in owning property because they want to live in it
>>60907784>ever wonder why there are empty houses without any renters in them?Various legitimate reasons like renovations, abandonment, in between tenants etcetc.Literally none of them are for the insane leftist conspiracy theory reason you think.
