this post was submitted on 17 Apr 2024
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United States | News & Politics
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Yeah I keep having this morbid intrusive thought that maybe soon a horrible crash will happen and a bunch of people's lives will be ruined, thus offering me an opportunity to get into housing.
Kinda sick how the entire system nudges you into wishing tragedy on everyone else so you can benefit, because nothing else will be done.
If it's any consolation, you can rest easy that the institutional investors would buy up everything so prices still wouldn't collapse. The exceptions would be properties that are going to be unprofitable in the mid-term because they'll be underwater due to climate change or something.
lol you just described r/REbubble
I get it. If real estate wasn’t an investment vehicle, we wouldn’t have this ever increasing pressure to make more money or starve.
It’s completely bizarre that a 40 year old house appreciates 33% in 5 years with absolutely no renovations or other added features. It’s arguably worse off, as it’s less efficient than newer properties and items like roofs and HVAC systems have finite lifespans.
I kind of wish home prices stayed somewhat stagnant. If you rent for 10 years, you have no equity. If you own for 10 years, you have (hundreds of?) thousands. That alone is enough to create wealth gaps in otherwise identical groups of people