>Google searches for “can’t sell house” just hit an ALL-TIME HIGH.>US now has 44% more home sellers than buyers, one of the largest gaps in history.
>>529488500Liquidations will be forced as property taxes rise and estate inheritances.
>Google searches for “can’t afford shit” just hit an ALL-TIME HIGH.
hmm just lower the price?
>>529488752It should but I don't need to search it as I already know the answer.. That a full time job only gives pocket change these days and adding a 2nd job, won't fix that.. BOOMERS!
>>529488500all by designhttps://files.catbox.moe/1c9ojf.mp4
>>529489011I know what I got.
>>529488500>I KNOW WHAT I GOT!and other Boomerisms.
>>529489011Whoa, whoa, whoa. Cool it with the anti-Semitism there, buddy.
it turns outnobody wants to pay $1m for that 1960s starter homethe people that could afford it just buy a mcmansion
>>529488500When you're 40 "i know what I got" deep in a conversation with a boomer
>>529490938You can buy a modular home for like 150k dollars that will last you your entire life.land is the major problem now, but all these dying cities with their ancient homes can fuck off.
>>529488500Where are boomers supposed to move to if they sell their homes? There isn't any place else cheaper. It's not their fault you can't buy a house, it's the corporations that have been very successful at keeping prices high and wages low for the 4 decades. Now they're tricking you into blaming boomers, but in 10 years they will be tricking you into blaming GenX. And you'll fall for it just you did this time.
>>529491759the point is still clear, butch whoever made that graph is a fucking retard
Anything but lowering the price, of course.
increasingly, more and more people are going to be priced out of housing. there's no pressure to sell either because the expectation is housing prices double every 10 years. most people that could afford to buy a new home are people that are boomers and already own multiple homes lolwhatever hit you take from property taxes could be made back by renting it with airbnbNew homes aren't being built either. It hink the housing shortge is going to get a whole lot worse
>>529488500Dumbasses are refusing to sell for 50k less and will end up selling for 150k less after the crash.
>>529491759It's not my fault that the boomer's exit plan was reliant on me being able to afford to buy their McMansion. I guess the boomers will just have to pull themselves up by their bootstraps and stop eating avocado on toast.
>>529491759it's not corporations that are blocking new housing from being built. it's local governments that are. the primary concern of local governments is inflating housing prices. that's what their voters want (boomers) and higher housing prices = more property tax revenues for the local governmentcorporations do a lot of terrible shit, but in this case, it's not really them. it's the boomers. corporations are only a small share of private housing. the vast majority of houses are individual or small business owned.
>>529491759They should be trying their hardest to find any family to leave their home to as an inheritance, even if that family is a sworn blood enemy.
>>529492778Boomers will leave NOTHING to anyone. Their life long motto has been: fuck you I got mine.Mark my words. They will make sure their kids and grand kids get nothing.
>>529492778yeah, what the world needs is more spoilt rotten fucks made on inheritance lolhouses should be affordable for workers to buy with their own money. not given for free to people that are already privileged in life
>>529489011That’s antisemitic
>>529492991The world needs family and love. That cannot happen if one part of the family wishes death on itself.
>>529492704property tax needs to be deleted. the local governments are out of control. you give them anything and they go buy endless police trash and beg for more then cry that you aren't renting from them hard enough. meanwhile the feds make groceries unfathomably expensive while local govs croak at daring to touch their fucked up design. we revolted over a tax 1/10th the size of income tax + tip and it only affected lawyers who had money to afford it lmfao this country is in deep. boomers have no idea they are creating very very angry economic conditions
>>529492474>It hink the housing shortge is going to get a whole lot worseHousing shortage crashed immediately once the immigration issue started being addressed. Unless they turn on the infinite immigrants again, housing is going to go into a death spiral. Boomers are holding back a deluge of properties and they don't have much time left, especially if they took the vax.
>>529493374well love is only one financial transaction away
>>529488635A lot of people overlook this, but the same thing happened in the 1960s/70s when The Lost Generation started dying off and couldn't afford to pay back taxes on their estates.
>>529488500Who do they even expect to sell their boomer shacks to? Most millennials and zoomers are single and those who aren’t don’t have large families. We don’t want or need what they’re selling.
>>529493615lmaothe immigration problem isn't being addressed. it's just trump making a big show out of deporting a few dozen migrants in a country with 300m people living in it. it's less than a drop in the bucketthe reason housing isn't selling is because the top 10% are completely detached from the economic reality of the majority of people just barely scraping by
>>529489011They can't. They still have a mortgage to pay off plus they expect a certain amount of profit.I mean they *could* but they won't because they are greedy cocksuckers.
>>529492983Joke's on them. I don't have kids. Their genes end with me.
>>529488500invisible hand of the market?
>>529491759>live in the most economically prosperous era in human history>somehow come out the other side dirt broke except for the magic fantasy value of your matchbook houseAre boomers objectively the most retarded group of people who have ever lived?
>>529491759The people selling the houses aren't exclusively boomers. This is a nonsense statement. There are many reasons to sell a house. But a very popular reason when things were trending up was flippers. I hope those guys lose their asses. More so property investment firms, they only buy. Even ole Donnie threatened them and they came to the table and he flipped. I was surprised he would ever threaten them because he made tons of real estate. But it looks like it was a tactic, wonder what he got out of it?
>>529491759Boomers should pull themselves up by the bootstraps if they can't afford to live somewhere else. Maybe they should stop buying creamer for their coffees if they are so short on cash.
Everyone is fucked. Houses in Canada need to correct down by 30%. That amount bankrupts every Schedule A bank we have as their average is 45% in Canadian real estate. Nobody can sell houses for what they want and nobody can build a house for the price it would sell for. None of the equations make sense. The money should have flowed down from Boomers to Millennials and Zoomers. This didn't happen because they pushed the infiniteJeet button. Instead of wages rising the new Canadians will happily work for minimum wage at anything. They have no expectation for a high standard of living.
>>529493887I'm legit wondering what's going to happen to all these 2500+ sq ft houses when the upcoming generations are used to shoebox apartments and aren't forming large families
>>529488500To qualify for a mortgage on a median priced home today, you need roughly $127,000 in household income. The median household makes about $80,000. Nearly 75% of homes on the market are UNAFFORDABLE for the average American family. Three out of four.
>>529493958And the banks giving loans to the 14 beaners plus per house which will eventually be foreclosed on and sold to 20 beaners and so on.
>>529491759>where will they move?Into the "luxury " copy/paste trendy and exciting downtime apartment blocks that are appearing everywhere. They're generally surrounded by shit boomers love. A few bars and a park area nearby. Boomers aren't hard to impress. Give them shitty food. Alcohol. Avenues for free dogshit entertainment and you've pretty much pressed all of the boomer critical dopamine buttons. >>529492778Naw my dad literally pulled the SS.College Fund meme IRL on his way out. Re-mortgaged his equity then burnt it on 3 Harleys, a 60'000 dollar sports car, a 64 T-bird, a new truck. Mom went along with it and got a shit load of tech gadgets she neither understands nor will ever use.These were the same people that reminded me on the daily from childhood to adult that I was a drain on them and in fact OWED them. Dad got cancer/died within 2 years.Mom now lives with her sister and they bicker daily in a trailer 1000 miles away.Im comfy in my home. I told her I don't have the space for her.I have an 800 square foot room but "its occupied by a Tennant ".That Tennant is 2 guinea pigs.A turtle in a tank.My art studio.A weight bench and a bunch of orchids that my girlfriend tends to.Those 2 both inherited several properties and squandered them. Worked full time making well above medium income each.
>>529488500In Silicon Valley the average price for a home is 1.3 million. they still get scooped up every time in less than a week by a family of changs, or jeets. its sickening
>>529489237Yep will be the only buyer left in town
Just never buy. Do not buy the Boomers bags. Just refuse to participate in this system that screws you.
>>529488500This is a legit housing market crash because nothing is selling and boomers have decided to iron curtain us out of the economy
>>529495460okay, rentoid
>>529495460thius never leaving parents house
>>529488500.
>>529495026What's crazy to me is all the undeveloped land you guys have up there. I guess a lot of it is rocky/permafrost and much of it is cold as hell in winter, but for the most part you would think that would drive land prices down. Why doesn't your government just release small bits of Crown land (that isn't parks/preserves) to individual buyers or families? From what I have seen it is really quite hard and bureauceatic to get your hands on crown land, much less develop it. Maybe native lobbying against it and zoning/regulations causes part of it? Australia seems to have the same problem also.
>>529495645>>529495698instead of buying a house, buy dividend growth stocks, that should take care of you shelter expenses for life.
>>529488635That's why they're removing taxes entirely and keeping them at pre 1970's levels if they don't upgrade the building to modern standards in California. At the same time owners can't sell to a person who needs a loan because the lender and insurer will tell them to go fuck themselves since some of the buildings haven't been updated since the 1960's and are quite literally fire hazards. Somehow California only regulates the poor, surprise!
>>529488500Most of them will be dead in the next decade.
>>529488500I'm buying a home right now and I have to fight for a month to get the people to pay closing costs.What seller doesn't pay closing costs?
>>529495035They'll be modified to be multiple units, same as any grand old house that fell on hard times once upon a time. There are plenty of references to it in historical literature, and it will happen again. Hell, my mother is doing it now so she can afford property taxes.
>>529496079>What seller doesn't pay closing costs?
>>529493615>>529492474>>529493958The real long term problem here isn't really immigration. Its the birth rate crash that is occurring globally right now. People who are buying homes expecting them to maintain value as the number of people starts dropping in the next 30 years are in for a rude awakening. Not even going to mention all of the geopolitical turmoil. House values will be on the floor.
>>529495460it;s easy to say this when you have your parents paying for your housingthe reality for a lot of people is if they don't pay for housing they're going to be out on the streets
>>529496221lolimagine all the former boomer starter home suburbs being converted into 4 unit housing. you get a bedroom and bathroom for 2/3 your wages
>>529488500and magically the prices remained high
>>529496221you can't split these houses easily, it's the same problem as trying to turn corporate offices into apartments. the amount of money you have to dump into them to retrofit them is the same as demolishing and rebuilding
>>529495035Don Knotts lived in a shared boarding house room in nearly every film he's in. We're certainly making America '60s again
>>529488500sounds like the market needs to crash, tick tock boomers, people are literally just buying rvs and living in them because its cheaper and more affordable with the only thing needed to buy is a wireless internet service like starlink.
>>529488635Boomer have already passed laws in many states to limit property tax increases that will basically shield them for the rest of their lives
>>529497797uh, yeah you can, for almost nothing in costyou can also put up tent cities across the streetand turn walmarts into favela apartments
>>529495460It really is becoming that way and other countries are offerinh higher standards of living for educated, pensioned, and remote workers.
>>529489011NO LOWBALLS NO TIRE KICKERS I KNOW WHAT I GOT
>>529497797>>529498107Yeah, the expenses are not actually that bad. You are left with a building that looks strange, whose internal layout is also strange, but ultimately the local governments will let it slide when they realize it's the only way to prevent revenue hemorrhage. A flood of foreclosures is NOT preferable, and would exacerbate the overall problem for them in a real-estate devaluation situation.
>>529491759>be me, core millennial>$100k flat salary in 2020>$170k salary today in 2026Feels good being wealthy
>>529489011hey hey hey hey hey they're going to pass a bill to make that a hate crime
>>529488500But nobody needs to sell their house. People feel the need to buy one when they don't have one, but can't because we overpopulated our society. But people aren't going to just sell their house because the market is low, the exact opposite actually. They'll still keep the house listed for an inflated price and never budge. They still have a place to live and you don't.
>>529495101
>>529492983>fuck you I got mineIt's really not just boomers. It's all Americans as soon as soon as they reach a modicum of stability they scramble to pll p the ladder behind themlocal politics are entirely about fucking over the poor people, and nimbys which are bleeeding heartson the national stage are 'not in my backyard' on the local stage. They're even worse than boomers. if impossible to live in a nimby arrea as a young person unless you have rich parents supporting you which is nowadays a lot of the case
>>529495595
>>529489011I paid good money for this house and I intend to make a profit whether it's doable or not.
>>529499963lol no wonder spain is overrun with squatersthere's no economic benefit to people sitting on housing and not selling or renting. it just exasperates shortages to nobody's benefit not even your owngood luck on that investment when the population is in demographic collapse
>>529488500>Boomers refuse to budge on selling their homesBut when they drop dead their kids will sell for a discount so hold out as long as you can.
>>529489011if they held it over decades should be doable if they upgraded and sold and bought with loans then you’re hedged on those prices
>>529488500They know what they got.
>>529491759>Where are boomers supposed to move toGrave plots, ideally.
>>529489011excuse me, that termite and ant hive made out of cardboard is worth 1.45 million dollars according to my HOA
>>529500467their kids wont be able to afford the property taxes on their prents properties and there's going to be a rush to sell loldeep discountsand these kids had their parents carry them all their lives they're going to be in or a rude awakening of what happens when you don't have parents to support you through life after the cash from the sale is blown lol
>>529489011What kind of unhinged mind would come up with something so ridiculous? I, quite frankly, am absolutely appalled you would suggest such a thing.
>>529489011Lol but seriously, what's the solution here?
How this happened>World War 2 happen>Gov: "We have GI Bill. Fight for us get home loan at great rate!">Greatest Generation," I no longer live in a donkey pen! I have a home! I will now have child. I shall call him Boomer>Boomer: Home is valuable. This is investment.>Schlomo Construction Company," Make 2 homes for every Goyim and sell them to Boomer.>Boomer "This is investment!">No one is living in them but number goes up for the same reason that Magic the Gathering Cards go up despite no one playing them>Kid," I'll buy that magic the gathering card for like $2 top and that home for like $80k top>Boomer "BUT LINE SAYS CARD IS WORTH $50K AND HOUSE IS WORTH 50 MILLION. I KNOW WHAT I GOT!"How it will end>"I know what I got! OH NO I HAVE CANCER!">Judge "He died with no children. Send it to the estate sale."
>>529500349Problem with that motive (sitting on) is that, for the non-upper class or millionaire/hedge fund home traders, it does as you note only function as shooting yourself in the foot. The only way to economically/financially 'benefit' from wheeling and dealing in, 'sitting on' residential homes/real estate is to have dozens of them in other words, to be a big wheel in the market. Single or two-home owners that are desperately (some in 'golden handcuffs' having bought in the past couple decades at much lower rates and now can't afford to sell) hanging on in the hope that market conditions will improve and/or they can "make more money" off the sale than what they've put into the house/mortgage, are indeed fucked and fucking themselves over.As others have said, in many big urban and suburban areas of the U.S., even the prime markets, the trend now is to tear down older single-family homes so that multiunit condos or even apartments can be constructed on those lots, in other words densifying of residential areas. (Many of these new multiunit structures obviously are going to be rentals)Real estate is the biggest asset bubble in the west by a vast magnitude, and remember that many banks and HNW entities / hedge funds / REITs are multidimensional-leveraged into it, some of that leveraging entirely consists of speculative debt instruments (aka gambling)
>>529488500>I know what I got. Mr. Shekelstein said my investment properties doubled in value during COVID
>>529488500I thought Black Rock was going to buy all of them then rent them out to zoomers.
>>529488500i know what i got
>>529488500The market will correct, either they die holding onto their overly priced house, giving it away for free via inheritance, or, they adapt and sell at a lower price, reducing inflation and fixing the economy
