360

Fellow home owners, are you ready for the housing market to crash? (lemmy.world)

submitted 9 months ago by ericbomb@lemmy.world to c/asklemmy@lemmy.world

212 comments fedilink hide all child comments

I know I'm supposed to want it to keep going up as a wealth generator or whatever.

But like... I wouldn't be able to afford the monthly payments if I bought my house right now and it's scary. Also none of my friends are buying homes, none of them are even renting full places. Just like renting rooms.

So what are your feelings home owners of lemmy?

you are viewing a single comment's thread
view the rest of the comments

[-] ericbomb@lemmy.world 13 points 9 months ago

It would ruin our equity. So no selling or refinancing for awhile.

It would mostly hurt people selling, renting, renovating, and building homes.

[-] LordKitsuna@lemmy.world 4 points 9 months ago

good, fuck em. Seeing houses as an equity Builder was retarded in the first place. It's literally not sustainable, if it's supposed to constantly appreciate value no matter what it means that there is an ultimate threshold where it becomes unaffordable for everyone.

A house is a place to live, not a fucking financial asset to make money with.

[-] Loudergood@lemmy.sdf.org 2 points 9 months ago

I would be an equity builder even if the price was flat. Which would honestly be ideal. Of course the built in rent control doesn't hurt either.

[-] QuarterSwede@lemmy.world -1 points 9 months ago* (last edited 9 months ago)

Everything can be an asset to make money with. Before money it was bartering and you can bet your ass the home was an asset back then too. Humans value the creation of things. Assets of created thing will always exist.

[-] zammy95@lemmy.world 1 points 9 months ago

Ah, that makes sense. Thank you!

this post was submitted on 29 Sep 2023

360 points (95.2% liked)

Ask Lemmy

25225 readers

2903 users here now

A Fediverse community for open-ended, thought provoking questions

Rules: (interactive)

1) Be nice and; have fun

Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them

2) All posts must end with a '?'

This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?

3) No spam

Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.

4) NSFW is okay, within reason

Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either !asklemmyafterdark@lemmy.world or !asklemmynsfw@lemmynsfw.com. NSFW comments should be restricted to posts tagged [NSFW].

5) This is not a support community.

It is not a place for 'how do I?', type questions. If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email info@lemmy.world. For other questions check our partnered communities list, or use the search function.

Reminder: The terms of service apply here too.