Something I've encountered recently: >Talking to/overhearing

Lets all move to hungary. You can get houses there nice ones for €30,000

>>1113755
OP it's Phoenix and the state is Arizona. You have no need to buy a house in this market unless you're 100% sure that you're either
a) going to live there the rest of your life or
b) viewing real estate as an investment

>>1113755
i think its because real estate agents fuck up house prices.
a house sells for 200k so the realtor selling a house down the street list it for 210k for comparison pricing. That house sells now another real estate agent down the street list another house for 220k and it sells.. this cycle goes on and on. just because they are real estate agents doesn't mean they know much about the economy but yet we give them the power to price houses.
I feel as if another bubble is near. Baby boomers want to retire and sell their houses that they had for their job and family and want to down size but don't have anybody to buy them
There will be a huge supply of houses and no demand for them due to the prices.
Prices fall and people will start buying again and then the real estate agents will start their retarded cycle again thinnking they know what they are doing because they deal with houses

I own and manage a few properties and my mom is a real estate agent and it's disgusting to see her and her real estate friends price houses.

>>1113755

A nicely camouflaged bitch post better suited for /pol/

>>1113759
I think he meant the guy has 3 houses. One in phoenix az and one in florida

>>1113755
Typical Millennial: "I'm a fuck up, so the whole world must be fucked up. Let's start an online petition."

Housing prices don't rise because homeowners are evil and trying to crush your dreams. Housing prices rise because demand is high. Just because you can't afford a house doesn't mean other people aren't buying houses.

http://www.reuters.com/article/us-property-poll-usa-idUSKCN0VX1L1

>>1113769
did you just pull that shit out of your ass? realtors don't move economies. house prices are fucked because of inflation, central bank money printing, and foreign investment.

>>1113769
>housing boom busts
>millenials (and others) living in apartments move into houses
>apartment companies lose customers/value

so tell me /biz/, why aren't you shorting apartment companies?

>>1113790
> realtors don't move economies
thats my point you jack ass. They price things without knowledge of the economy to the point where nobody can afford a house.

Real estate agents create bubbles. Lenders go along with it, thats why they put a shit ton of regulations on mortgages. Real estate agents and lenders don't realize what they are doing to the market as a whole they are just trying to sell the house and move on. they don't care if the people lose the house.

>>1113807
>he thinks realtors set housing prices
>he thinks banks are ambivalent to mortgage defaults
That's so cute. Do your parent's know you're playing with their computer?

>>1113813
who prices the houses then? the homeowner who has no clue how much his house is worth? because when they do the real estate agent tells them if they should go higher or lower.
tell me who you think prices the house.

>>1113813
and banks don't really care as long as they don't over expose themselfs to mortgages on their balance sheet, thats why they will sell off the loan to another finance company as a MBS. When the home goes into forclosure the bank takes over and sells the house to get the money they put in.
You really don't know what you are talking about do you kid?

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>25
>have mortgages out on two condos
>rent both out
>live rent free with parents
at this point it's obvious i won't get a gf/married, so why give up the tendies? might as well go full jew while i'm at it, too.

>>1113755
If youre in software or have a high paying mobile career where you need to switch jobs every 2-3 years to get the maximum raise, buying make sense. If you're in majority of careers, then you simply don't have money. Boomers are counting on Chinese and Indian money to sponsor their vacation at this point. With China going down the drain, I'm gonna be laughing my ass off when they can't unload their cardboard atms.

>>1113818
im 31 and own my house in full. i know what my neighbors houses are worth. i wouldn't take a dime under 200k. if a realtor told me to list it for 175 i would tell him to fuck off.

its really no different from selling a car. its a asset i own, and im willing to trade it for X amount of dollars.

something is only worth what someone else is willing to pay for it.

>>1113818
>tell me who you think prices the house
Mr. Supply and Ms. Demand.

>>1113828
Mortgage-backed securities have recourse provisions. Just because you watched the Big Short doesn't mean you actually know anything, kid. I actually work on securitization deals.

>>1113807

you're literally just making this up

realtors work on commission. meaning they want to sell houses as fast as possible. they would rather sell two houses at 300k then spend the time trying to sell one house at 350k.

realtors do fuck all to house prices. again, it's money printing and foreign investment. the central banks print money because they want to stimulate the economy but the economies they're trying to stimulate don't actually produce anything , so they free floating money ends up inflating house prices. and foreigners want to get money out of their unstable countries so they buy houses they'll never live in in countries they've never been to, further pumping the price , to the point where locals can't even afford to live there

>muh realtors

>>1113841
im 25 and own 3 houses in full. Bought my first at 20.

>i wouldn't take a dime under 200k. if a realtor told me to list it for 175 i would tell him to fuck off.
And that is how bubbles are created. Thanks for prooving my point

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>>1113851
>im 25 and own 3 houses in full
Congrats. One more and you can build a hotel, kid.

>>1113846
Tell me how bubbles in real estate markets are created then.

>>1113847
>realtors work on commission. meaning they want to sell houses as fast as possible.
No shit. Thats how real estate agents create bubbles.. back to my post>>1113807
>they are just trying to sell the house and move on.
they do not care about the outcome.. they are just trying to get their pay check and leave and the higher they price the house the more commision they get so they price higher and higher, to the point where young generations can't afford to buy a home. That is what this whole thread is about.

>>1113859
More demand than supply? People who cant afford it opening mortgages on multiple houses because they think the housing market will continue to rise forever further perpetuating the bubble. Remember, its only a bubble if the bubble can pop.

>>1113855
>Congrats. One more and you can build a hotel, kid.
Great reply. wow, you stumped me, i should really go do some studying after that comeback.

>>1113863
>they are just trying to get their pay check and leave and the higher they price the house the more commision they get so they price higher and higher

no you stupid fuck. people aren't just idiots that buy houses at whatever fucking price because some dipshit realtor highschool dropout gave them an overpriced quote. the higher they price the house the longer it takes them to sell it, meaning they're losing out on money they could be making flipping more houses.

>>1113755
wait 1-2 years for housing prices to crash

>>1113864
so they just put a bunch of prices on pieces of paper, put the pieces of paper in a box shake it up, pick a piece of paper out of the box and thats the price of the house?
Is that how house prices are decided? or do they go off of price comparison in the neighborhood?

>>1113870
>no you stupid fuck. people aren't just idiots that buy houses at whatever fucking price because some dipshit realtor highschool dropout gave them an overpriced quote.
Im pretty sure they are idiots that do just that.
>the higher they price the house the longer it takes them to sell it, meaning they're losing out on money they could be making flipping more houses.
>implying they are only trying to sell one house at any given time.

>>1113870
This. After the bubble popped in 2008 there were millions of houses sitting dormant. The overabundance of supply is what caused house prices to plummet. Real estate agents cold have urged home owners to price homes at whatever amount they wanted but that didnt mean the house was going to sell. When supply exceeds demand prices fall. This is economics 101.

>>1113878
why did that bubble happen?

>>1113874
Neighborhood? You act like neighborhoods are sovereign entities that are seperate from the rest of the housing market. I love how you think there is some conspiracy among the real estate underground who all get together nationwide and set house prices. People can only afford what they can afford and are only willing to pay what they can pay.

>>1113885
See >>1113864

>>1113755
all RE is local. I'd like to own a home but I have a pretty sweet rental right now. To buy a comparable would be extremely expensive and seems like a money losing move.

>>1113885
because banks gave out too many risky loans to people who couldn't pay them back

>>1113755
Younger people are also getting married less frequently.

>>1113891
check out san franciscos market compared to other slower moving markets such as las vegas.
>love how you think there is some conspiracy among the real estate underground who all get together nationwide and set house prices.
They do it in neighborhoods Just like the S&P 500 is made up of 500 different stocks, the real estate market is made up of multiple different areas with different growth. Guess what, the stock market has bubbles and so does the real estate market.
>People can only afford what they can afford and are only willing to pay what they can pay.
And real estate agents take advantage of this and cause buyers to outstretch themselfs.
Tell me again how the price of a house is decided. And im asking for how they come up with a specific number to list it for. how do they come up with that number?

>>1113851
>And that is how bubbles are created. Thanks for prooving my point
every house around me has sold for 250. i know my house is worth 200 minimum, so why would i take under that? bubble? nigger please. a realtors opinion on what i would sell my house for is just that, their opinion. they don't dictate how i trade assets.

>>1113896
And who incouraged this? and who listed these houses at these prices? HMMM maybe it was the real estate agents?

>>1113908
>check out san franciscos market compared to other slower moving markets such as las vegas.

that's because the software engineers living there have lots of money to burn and it's a desirable area to live in. again it's supply and demand and not a realtor conspiracy.

>>1113914
>And who incouraged this?
>HMMM maybe it was the real estate agents?

what are shitty government backed loans

>>1113912
they may not dictate what YOU sell for but not everyone knows what their house is REALLY worth so real estate agents persuade people to sell higher and higher and both seller and agent are happy. This creates bubbles, where nobody can afford the houses so the demand falls and the supply rises.
Because Real Estate agents create bubbles!

>>1113920
of course theyre trying to get as much as they can for it. that applies to everything in life.

>>1113908
You're an idiot. That number is based on demand. Let's say they suggest to price a house at $300k. It sits on the market for 3 months because of no demand. What do they do? They drop the price to $280k. Or lets take the inverse of that. They suggest to a home owner to price the house at $300k. It sells within a few days because of high demand. What do they do? The next house that sells in the area they suggest to price a little higher.

Real estate agents do not set market prices. They just gauge what the market price is so that a home owner can get full value for their house. Ultimately, real estate agents are just housing analysts. They analyze what the market is by determining what the demand is. They do not create demand.

>>1113915
>not a realtor conspiracy.
I never said it was a "conspiracy"
look back at>>1113807 >Real estate agents and lenders don't realize what they are doing to the market.
Tell me how they price houses

>>1113916
>what are shitty government backed loans
They are FHA loans. it makes housing more affordable to people instead of having the private mortgage companies the government helps so that people don't have to put the 20% down. Instead people only have to put 3.5% down.
Who decideds what a house is listed for?

>>1113933
>They are FHA loans. it makes housing more affordable to people instead of having the private mortgage companies the government helps so that people don't have to put the 20% down. Instead people only have to put 3.5% down.

the housing bubble was so much more than that.

the housing bubble had nothing to do with realtors. it was the loans.

>Who decideds what a house is listed for?
the people that own the property.

>>1113933
Do you really think that if real estate agents didnt exist homeowners wouldnt be doing the EXACT same thing that they do which is by trying to get top dollar for their house?

>>1113939
In fact I will even take this one step further. Real estate agents actually supress the market beause they are the voice of reason. They just want the house to sell and get their comission so they want to price the house under demand so it sells quickly. If every home owner was selling his own house you would see way more outrageous prices.

>>1113939
i honestly cant believe real estate agents exist in 2016. they take 3% on both ends, which is a fucking ton of money, and for what? a shitty listing online with amateur pictures. if a company like zillow could lean more towards the selling aspect, i think that entire occupation would disappear.

>>1113939
> if real estate agents didnt exist homeowners wouldnt be doing the EXACT same thing
If real estate agents didn't exist then yes the homeowners would be the ones creating bubbles.
>>1113935
There has been more then one housing bubble. talk to people older than 45 and they will tell you there has always been corrections (burst bubbles) in the real estate market and that they have witnessed it.
>the people that own the property.
what if they don't know what to sell it at, who suggest what they should sell it at? what the "fair market value" is?
>the housing bubble had nothing to do with realtors. it was the loans.
So the real estate agents didn't have knowledge of what the people could afford and showed houses to people that couldn't afford the house? so maybe real estate agents hhmm must i say... "ENCOURAGED" this bubble?

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This is what I do bud, I save boatloads. And If I wanted to right now I could afford the down payment on a 8 plex. Just waiting for the market to correct

>>1113947
Im with you on that.

>>1113947
I agree. Eventually I think that real estate agents ar going to disappear. They really were only relevant in a time where market statistics werent easily available on the web. The MLS is their last holdout before someone replaces it with a public database. Even the legal aspects of buying/selling a home and all the pertinant paperwork will probably soon be automated.

>>1113947
Yeah it is pretty silly. My aunt became one after her kid got old and didn't need her so much.
She had been out of the workforce for something like 15 years, and now she's one of the better ones. She complains that most of her coworkers are retards without degrees/dumb suburban moms and tells me the job was way harder before the internet.
She also revealed to me the secret online service i think you have to be a realtor to use... it's like fucking ebay, a monkey could figure it out.

From what I gathered? Real estate agents are only useful to old people and retards who don't understand simple things

>>1113954
>There has been more then one housing bubble. talk to people older than 45 and they will tell you there has always been corrections (burst bubbles) in the real estate market and that they have witnessed it.
nothing like 2008.

>So the real estate agents didn't have knowledge of what the people could afford and showed houses to people that couldn't afford the house? so maybe real estate agents hhmm must i say... "ENCOURAGED" this bubble?
its like people selling cars on craigslist. some people ask too much, some too low, but the market itself determines the price of the item. if people dont know what their house is worth all they have to do is look around them.

>>1113930
You took the b8 m8, because bidding on houses destroys his whole argument

>>1113755
Why not buy a comfy condo on the cheap then buy some rathole detached house in boomerville?

Best of both worlds desu

>>1113974
association fees kill the idea of owning a condo for me.

>>1113975
It's the same shit with property and local taxes mane

>>1113968
If MLS could be replaced with a public database, why hasn't it? Seems like a sure business idea and there's endless capital for tech startups (i think)

>>1113972
This. The market decides. Not the homeowner. Not the real estate agent. The market.

>>1113978
Not sure to be honest.

>>1113930
>Let's say they suggest to price a house at $300k. It sits on the market for 3 months because of no demand. What do they do? They drop the price to $280k
so they are getting as much as they can for the house right? so then when they get that 280k for the house that is driving the "demand" price so that way the next realtor can come in and say that house sold for 280 lets set yours for 290 and see what happens. so go ahead and go back to my post>>1113769
>>1113973
I didn't reply to him because he didn't read the thread, go to my post>>1113769

real estate agents get as much as they can for the house. That action creates bubbles.

>>1113982
Lol I think we're done here. Everyone else in this thread understands but you.

>>1113976
you still have to pay property taxes on a condo.

typically association fees cover cooking gas, water, heating, outside maintenance, building insurance, and waste removal. bigger complexes are managed by companies so they take their share, too.

>>1113947
>why do real estate agents exist
same reason car dealerships are still a thing. The companies in their respective industries lobby governments and pretty much force them to exist. Dealerships and real estate agents are obsolete in the 21st century

>>1113975
its pretty shitty but if you weigh it out on certain things it makes sense.
I have a condo that i rent out and they just raised the HOA but they pay for water, trash, sewer, insurance, landscape, and they repair the outside of the buildings.
Not all HOAs will pay for all this stuff, but when buying anything with an HOA always look at what THEY pay for out of the fee.

>>1113989
I fail to see the redundancy of car dealerships. Where would you prefer manufacturer and consumer to meet?

>>1113986
understands what? that real estate agents create bubbles?

>>1113975
How else do you keep nonwhites out?

>>1113993
Yes. They understand that real estate agents create bubbles ;^)

>>1113997
so you admit you have been retarded this whole thread?

>>1113998
Sure ;^)

>>1114002
>>1113997
typical replies from someone that realizes they have been wrong the whole time, and have no further argument.

>>1113992
>no redundancy
The manufacturer is selling a finished product. The dealer is re selling the finished product and marking up the price based on location. You could easily allow manufacturers to sell directly to customers. I'm not saying that dealerships shouldn't be allowed to exist. I just think it's absurd that dealerships are allowed to make sales from manufacturer to consumer illegal in certain states.

>>1114005
Haha. Let me ask you one last question since your mom is a real estate agent. When pricing houses using neighborhood comparisons does she price houses using what price home owners in the area are asking for their home or does she price is according to how much houses actually SOLD for? This seems like a minor distinction but its not.

Good goyims. You must spend all your shekels. If you don't, the economy will grind to a halt because velocity of money and it will be your fault. You don't want everyone to feel bad right? Here, borrow some money so you can spend a little more than you have.

>>1113969
Their only function now is to bring a key to the property and open the door so I can look around.

Some old realtor tried to tell me that we'd better buy now because the rising interest rates will translate to rising home prices soon. She said it with a straight face and stared me in the eyes with her medicated, pin point pupils.

The liquidity crisis is near and these dusty old fucks are trying to top off their inadequate retirement funds while they can.

>>1114008
does it matter? She is a real estate agent listing the house. Just because that is what the market says doesn't mean that is correct. MARKETS CAN BE WRONG! and real estate agents take advantage of this, just like people trading stock will try to get $50 for a stock that is only worth $40 the person that buys it for $50 will try to sell it at $60 and so on and so on creating bubbles. In housing it is the real estate agent bringing the house prices up to "test the waters" then they bring the house price down like you said in this post>>1113930
To answer your question they use both. This creates bubbles, the way to make money off of an "asset" is to either have that asset generate income or to sell that asset at a higher price that you bought it for, therefore making a bubble on the price and real estate agents help move the market up and cause house prices to grow because they put the prices higher then what the market is at so they can get as much as they can.. therefore creating a bubble.

This is such a stupid thread. OP is a faggot.

>>1114020
I cant tell if tou are trolling or not at this point. Yes it does matter. If real estate agents are suggesting that home owners price houses off how much other houses in the area sold for then it is the market deciding the price. Thats why you cant answer my question and are dodging it because you know thats exactly what real estate agents do. They wouldnt base the recommended price off a home that is sitting on the market for a year would they? No. They would price competitively based on what other people have bought houses for. Again, the market decides. Supply and demand is the most simple, basic economics principle there is. If you cant understand the basics then I really have nothing else to say to you lol

>>1114019
I hear some funny stories about her coworkers
They had a lady working for them who used to cry whenever someone criticized her
But I also hear stories about dumb clients who could never sell their homes themselves

>>1114032
The present supply/demand isn't the main factor to look at when the seller has the power to withhold for an extended period of time... real-estate doesn't deteriorate like fruits do.
When fixed assets become extremely overvaluated this creates more claims on the total economic output by their owners than can possibly be satisfied. The owners will collectively by various means attempt to prevent a general devaluation from occurring at any cost and end up getting a transfer of real wealth towards themselves.

>>1114025
I wish I could save this thread and show it to OP in 5 years when he turns 16.

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>>1114032
i did answer your question, i said they use both. Real estate agents are just guessing the price. If a house has been on the market for a year at 250k and similar house nearby sold for 200k the realtor will want to list another similar house nearby around 225k to "test the waters" so i did answer your question. i said both. i understand supply and demand.. once again go back to my original post>>1113769

in the pic, the twinkie is the home price and the consumer is chris. When the consumer becomes exhausted the prices will fall to meet with the consumer and then start the same cycle again. the people helping this cycle are real estate agents.
If you do not understand how un educated real estate agents are helping markets into bubbles then you are either retarded or just trolling. either way, im done. you are just to stupid to know that you are stupid. Enjoy being caught up in the next bubble though.. best of luck to you.

We want to buy homes. We don't want 450k 5 bedroom 3 bath houses in a housing plan. A 3 bedroom 1.5 bath in or close to the city for 150-200k is what we want.

>>1114047
Actually real estate does deteriorate. The market may compensate for that deterioration but it doesnt mean it isnt happening. An old house may be marketed as "vintage", "established neighborhood" or "great renovation project" but it is just tricks to mask the fact that the house is run down. Some older homes are priced high just because of the area. There are places in esteemed LA or NY neighborhoods where the lot is worth 50x what the home is. In those cases a home developer will usually buy the property to tear it down and build a new home on the lot.

>>1114052
Lmao

>>1114032
please read>>1114047

>>1113914
Man you really must hate real estate agents, it was hardly all of their faults. Read up on the 2008 housing bust a little more or at least watch the big short or too big to fail.

>>1114056
Obviously everything deteriorates but some things deteriorate much quicker/slower than others. This changes the kind of bargaining power the holders of those fixed assets have that won't deteriorate for long time periods more so than the current supply/demand.

>>1114060
ive watched the big short... why do people think that 2008 is the only real estate bubble? because they were alive when it happend?
if you read the thread you would know my mom is a real estate agent, but you didn't read the thread.
I don't hate real estate agents it's just that people aren't fully understanding what is driving this market upwards (greed) which is partly due to real estate agents. If you want to know more read the thread. but you probably wont, you seem more of the lazy person that wants to just watch a movie and think they know everything after that even though real life experience is where its at.

>>1114067
Granted they take a while to deteriorate but they do not need to deteriorate quickly in order to affect the supply. You have to think in terms of total population and that on average there is only one property per family/person. That means that house supply needs to grow in proportion to population increase in order to keep up with demand. Because of this and an ever increasing demand for houses and a slowly dwindling supply, house values have been able to outperform inflation as a whole. This is really not the definition of a bubble. This is just the operation of a natural market. The only way that a bubble is formed is if something artificially inflates demand and is unsustainable long term, in the case of the housing bubble it was an enormous amount of loans given to people that would not normally be able to qualify for a home purchase.

>>1113758
>Hungarian shill detected.

>>1114067
ignore the troll>>1114076
really, just ignore him. He probably just turned 18 and invested a few hundered bucks into apple and thinks he is a big time investor looking into real estate and thinking he knows how the market works because he watched a movie or because his retarded parents told him how markets work which is all wrong.
anyway, just ignore him, he will learn with time and real life expereince, but until them, he's just a kid trying to apply what he learned from retards to real life.

>>1114076
this guy is gunna be one of the people at the top of the next bubble saying WTF my real estate agent said it was time to buy.. it was a buyers markets hhuurr duuurr how can a real estate agent be wrong? wtf im upside down on my house, i paid 300k for it but its only worth 100k now, my real estate agent said it was time to buy :( i will never trust a real estate agent again (until next bubble)

>>1114083
Listen to this kid instead. His mom is a real estate agent lol.

>implying
Thats funny beause I was born in the 70s and have bought/sold many homes. I'm not even claiming to be an expert. I just think that the statement "real estate agents caused the housing bubble" is dumb. Real estate agents have no influence on demand and demand is the only thing that sets the price in a market as competitive as the housing maket is. In fact the housing market is as close to a free market as you can get besides the government programs that benefit first time homebuyers and FHA loans with low interest rates.

>>1114088
Again, if you had a little reading comprehension, REAL ESTATE AGENTS DO NOT SET THE HOUSING MARKET. All they do is analyze what price that houses will sell quickly according to what price the market dictates. Holy fuck you are dense.

>>1113755
Imagine that, a generation of individuals who are broke as hell due to student loan debt, underemployed due to outsourcing our previously manufacturing based economy, and homes being grossly over priced in a large number of markets.

Fact is, a lot of millennials aren't doing what their parents and grandparents do simply because there is no financial incentive to do so. Why take on home ownership, when once you do so, you're also obligated to taxes, maintenance and upkeep, and some utilities when if you factor those in it'll run as much if not more than normal rentorship? Same thing for getting married and having kids. Expensive propositions with little to no benefit.

>>1114019
>rising interest rates will translate to rising home prices soon

That doesn't make any fucking sense

the opposite will happen

>>1114071
I read most of the thread and just because you have some anecdotal statements about your mom and her friends it doesn't prove your case at all. Housing prices are supply-demand on the most simplistic level. If all the houses are overpriced they will not sell, people usually do not pay the asking price of listed homes (as you probably already know from your mom).

>>1114094
u got it backwards its because most cannot afford it, but want to

owning a house isn't a bad thing stop trying to dress up your pleb lifestyle

This entire thread is just total shit

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>>1114076
The thing is a general devaluation of real-estate prices to reflect their "real costs" isn't gonna happen because it would wipe out the "middle class" and powerful vested interests who are heavily invested in it.

>>1114149
No, I had it exactly right. I didn't say anything about want, I said that in this current market individuals 1: cannot afford it due to debt, lower than historically normal wages and inflated prices and 2: negative cost-benefit relationship.

I'm 33 (almost a millennial, Gen-Y by only 3-4 years,) and I hear a lot of what Op is talking about from my own folks. "I can't sell my house because nobody's buying!" When he turned 18 in 1970, minimum wage was $1.60, adjusted for inflation that's about $9.50, the US average for a home was $25k (defined as 1200+SF and 1/3rd or larger acreage, which is in line for inflation,) and tuition averaged $950 a year ($5800 a year adjusted.) A person could go to college and not rack up a mountain of debt. They could save 20% down in 2 or 3 years, not the 5 or 10 it takes us now.

None of this matters to old fuckers like Op's apocryphal boomer, or my own boomer dad, and no matter how much you remind them "well, the market is a monster of you old fart's own creation," it always comes down to "you younger kids are too lazy."

>>1114159
Truly? I got thru half and that's about all the armchair-market analysis I could take

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ITT Millennials complaining they can't buy McMansions as their first houses

>>1114095
>the opposite will happen
orly? tell me more, professor

>>1114025
this

>>1114404
Not him, but less people borrowing money due to higher interest rates cause house prices decrease due to a decrease in house demand

>>1113755
either get a tiny house or wait until the boomers are actually dying and the market crashes.

>>1114419
sort of. demand goes up when interest rates go down, which in turn brings prices up and vice-versa but that's only in the short-term. Interest rates can stay high while prices stay high, rising rates translates to higher interest EXPENSE for you, the buyer. It's advantageous for the buyer to buy when rates are low.

The other anon saying shit about the realtor's medicated eyes... really nigger?

oh you're gonna wait for rates to go up then buy the discounted house huh? too much faggotry

this /ragequit >>1114025

Dunno if the debate is still going but the most recent housing bubble went like this:
>banks lend to shitcunts with some adjustable rate mortgages
>bunch of people default, mass foreclosure and fire sale occurs in the housing market
>banks aren't in position to be lending right now
>no credit + temporarily huge supply of houses which need selling yesterday -> prices fall through the floor

>>1114404

I don't want a McMansion, problem is, a 1br 1bath fixitup with a septic overflow costs at least $200K in my area. That and developers keep bulldozing existing neighborhoods to churn out more McMansions in their place.

>>1113755
Just wait for the housing market to crash again.

It's coming.

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>>1113755

OP, Chill the fuck out. Wait for another few years when those baby boomers die off. The increase in available houses will drive the housing market down. Or even a good old war could kill off a good chunk of the population.

>>1113755

Go check out the other thread about boomers.

EASILY the most entitled generation in American history.

Thanks for wrecking the economy guys!

>>1113755
If you don't think Realtors set house price trends then you're fucking retarded or an actual shit head Realtor yourself

>>1113755
mate if you're anywhere near median salary and you can't save money, that's proof enough that millennials are fucking retarded.

there are tons of cities where houses are bought up at all price levels within days of being put up.

and as far as your absolutely fucking awful education on anything related to housing, which isn't even a tiny fraction of what makes millennials useless morons, price goes down and/or houses get replaced with those tiny shitholes that your generation loves.

>>1113968
Don't worry. The state will just make laws mandating that a human has to be present in the sale. There is too much lobbying money involved. You have title insurance, mortgage brokers, real estate agents, and county/city officials...

>>1113832
Nice.

>>1113755
>tl;dr boomers are retarded
yea no shit
i can't believe gen x is so ready to suck their dicks too

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>>1113955
If you're not baiting;
Is it worth it?
Even if someone is shit at mechanics?

>>1114076
>house values have been able to outperform inflation as a whole

Except that's wrong. It may be correct in the past twenty years, but looking at a 100 year outlook house prices have only matched inflation, or a little under. 2008 was a small bubble popping, but that bubble is just on top of a larger bubble. As it stands, even now when the market is "down", no one can afford a house. Mostly because they keep building ridiculous houses that are too large and too overpriced. Millenials are downsizers. They made the microapartment and tinyhouse chic. They don't want giant mcmansions. In general there's a huge push away from the suburbs now.

>>1114404
> ITT Millennials complaining they can't buy McMansions as their first houses

But that's all they're building, you fuck. And also some nice apartment complexes. No one is building two bedroom houses anymore. It's all 5 bd bullshit. Who the fuck needs 5 bedrooms?

>>1115140
>They don't want giant mcmansions.
This. I just want a small space that will keep me dry and not paying rent. Internet connection is a must, however.

yeah you can't just blame realtors. they're definitely part of the problem but at the end of the day we have groups of people looking at
1. monthly payments, and
2. speculative increase in value

so the mindset is like this--I don't care what the house price is, as long as I can afford the monthly payment, because the value is only going to go up and I don't want to be priced out of a home.

those are the people the frugal have to compete with. as long as there are enough of the former people in the market, the latter will go without buying houses. I think this is what they call "bad money chasing out the good". corrections are necessary, price discovery is necessary.

I don't see how (Canada specifically) can keep up its housing rates. but I think the prices are very sticky and there are enough immigrant buyers to sustain quite a lot of overvaluation. eventually though the would-be-buyers will be comprised of people with the means that don't have the will to buy, or those that have the will but do not have the means. that is when we will see a correction I think and it's not far off. I'm excluding the laundering cities from this assessment btw.

>>1115140
>except thats wrong
>proves his point by saying house prices have beat inflation in the last 20 years and matched it for the last 100
Kek. Sometimes I feel like you guys like being contrary just to be contrary.

>>1113787
This. If any of you people had any biz sense you would have bought when housing prices got fucked. There was no new construction for years and because of that supply was low. I have zero sympathy for my millenial friends who are trying to buy a house now and can't because prices went up.

Not only that I've started threads on affordability of these houses and how to buy and the only responses are, "I doubt that could work, there must be hidden fees." It's not just my age group, you'll find whiners everywhere. Fucking pathetic, why post here if you don't even have a business ethos.

>>1113980
then wtf does an appraiser do? if the market decides why is it legally required to have someone who works more or less at the behest of the banking industry appraise the value of a home before sale?

>>1116170
To find out what market value is? Lol. This is basic stuff. Banks hire appraisers because they dont want home owners overpaying for homes and then defaulting when they realize that their home is worth considerably less than it really is. Believe it or not appraisers CAP the house value so that it isnt too far above fair market value. They dont care if its below.