I drink your milkshake! a metaphor for capitalism

[vantexan]

Oh, there will be a bubble at some point. Timing is everything in real estate. Apparently we aren’t there just yet.

In the news today: Experts say housing market poised to remain strong in 2025

Here is a roundup of stories from The Canadian Press designed to bring you up to speed... Housing market poise...

lethbridgenewsnow.com

Existing-Home Sales Rise As Prices Hold Strong | Bankrate

Existing-home sales finally rose even as home prices continue to set records, per the National Association of Realtors’ newest numbers.

www.bankrate.com

US house prices are forecast to rise more than 4% next year

www.goldmansachs.com

Pretty sure a lot of that buying is from companies seeking high rents.

 

[Thebrownblob]

Pretty sure a lot of that buying is from companies seeking high rents.

They’re absolutely is a lot of that. And I hope they get left holding a bag with people not being able to afford what they’re charging.

 

[rickyb]

I don’t need articles, those are people telling you you don’t have opportunities.

What opportunities have YOU personally not been able to have an achieve that the generation before you could?

There’s always going to be people trying to drag you down and tell you it’s not possible.

To the achievers, they just don’t listen. That’s what makes them different.

if you dont need articles that say this is the first generation in american history to have a lower standard of living than the previous, then you are not serious

you should have already heard this. should be a major red flag for you.

 

[rickyb]

Oh, there will be a bubble at some point. Timing is everything in real estate. Apparently we aren’t there just yet.

In the news today: Experts say housing market poised to remain strong in 2025

Here is a roundup of stories from The Canadian Press designed to bring you up to speed... Housing market poise...

lethbridgenewsnow.com

Existing-Home Sales Rise As Prices Hold Strong | Bankrate

Existing-home sales finally rose even as home prices continue to set records, per the National Association of Realtors’ newest numbers.

www.bankrate.com

US house prices are forecast to rise more than 4% next year

www.goldmansachs.com

did these guys accurately predict the last housing bubble?

 

[Thebrownblob]

if you dont need articles that say this is the first generation in american history to have a lower standard of living than the previous, then you are not serious

you should have already heard this. should be a major red flag for you.

No, I see a lot of successful young people all around me.

And of course, just like every generation, I see people making excuses for their selves.

 

[rickyb]

If houses are worth twice as much in ten years then ownership will be in fewer and fewer hands. Incomes aren't keeping up with prices now. Those of us on fixed incomes will be wiped out.

thats exactly my point and while i agree with @Thebrownblob that there are still affordable cities, in a few decades i dont think that will be an option

 

[Thebrownblob]

did these guys accurately predict the last housing bubble?

Difficult to predict housing bubbles because the government inserts themselves into these situations and makes things worse. The more action the government takes in real estate the more cautious you should be.

 

[rickyb]

No, I see a lot of successful young people all around me.

And of course, just like every generation, I see people making excuses for their selves.

i think america is going downhill since 1973. that was roughly the peak of america. not sure for here but its going down hill too. maybe 89 when real wages stopped rising

 

[rickyb]

Difficult to predict housing bubbles because the government inserts themselves into these situations and makes things worse. The more action the government takes in real estate the more cautious you should be.

i dont know about that, and i agree its difficult to predict.

 

[Thebrownblob]

thats exactly my point and while i agree with @Thebrownblob that there are still affordable cities, in a few decades i dont think that will be an option

Houses, real estate, and land are only worth what people are willing to pay.

Would you buy property and not expect it to go up in value?

 

[rickyb]

Houses, real estate, and land are only worth what people are willing to pay.

Would you buy property and not expect it to go up in value?

yea because it still might make better sense than renting. i dont think housing getting more and more unaffordable is sustainable for average joes
regarding successful young people. i only know 2 people who make a ton of money as entrepreneurs. otherwise my friends might make 40 or 50 per hour if theyre lucky but theyre shackled with mortgage debt their parents didnt have to deal with.

 

[rickyb]

Houses, real estate, and land are only worth what people are willing to pay.

Would you buy property and not expect it to go up in value?

i think michael hudson said real estate is only worth whatever a bank will lend against it

he frequently mentions how banks used to not be able to lend as much.

 

[Thebrownblob]

i think michael hudson said real estate is only worth whatever a bank will lend against it

he frequently mentions how banks used to not be able to lend as much.

That’s because the banks understand as a general rule they’re going to get their money back and then some. If someone defaults. Which proves it’s a good investment.

 

[rickyb]

That’s because the banks understand as a general rule they’re going to get their money back and then some. If someone defaults. Which proves it’s a good investment.

well i think if you buy and it goes up enough its a good investment in that sense

but i dont think its good. it makes us uncompetitive for one.

 

[vantexan]

thats exactly my point and while i agree with @Thebrownblob that there are still affordable cities, in a few decades i dont think that will be an option

Affordable cities tend to have less economic opportunities. Danged if you do, danged if you don't.

 

[rickyb]

Affordable cities tend to have less economic opportunities. Danged if you do, danged if you don't.

but the prices are still rising there much faster than incomes. so in a few decades they wont be affordable either. i agree they probably have less jobs

 

[Doublestandards]

What’s lower? I’m gonna guess you’re not very far from my age, but I have kids who are in their early 20s and they all have cars, phones and generally anything they want materially that does not necessarily equal happiness if that’s what you mean.

Kids these days in the early 20s aren’t really trying to buy houses .

What exactly are you not getting that the generation before you could get in? What opportunities are you speaking of that you don’t have?

I think a bigger problem this generation is that many are complacent. Unwilling to sacrifice to get ahead. They want it now, and they want it quick.

The generation before you spent a lifetime achieving and gaining the things they have it did not happen overnight. And I’m sure they failed a lot along the way. The differences is they tried and eventually got somewhere.

I like how during the election you kept saying how terrible the economy was and how people couldn’t even afford groceries. Now that we already have a Republican president elected it goes right back to “things are fine, it’s the kids that are the problem! They just don’t want to work hard!”

Good ole bootstraps are back to be pulled on

 

[Thebrownblob]

I like how during the election you kept saying how terrible the economy was and how people couldn’t even afford groceries. Now that we already have a Republican president elected it goes right back to “things are fine, it’s the kids that are the problem! They just don’t want to work hard!”

Good ole bootstraps are back to be pulled on

It doesn’t apply to you, you live in your moms basement. Now Run along the big boys are talking.

 

[Thebrownblob]

yea because it still might make better sense than renting. i dont think housing getting more and more unaffordable is sustainable for average joes
regarding successful young people. i only know 2 people who make a ton of money as entrepreneurs. otherwise my friends might make 40 or 50 per hour if theyre lucky but theyre shackled with mortgage debt their parents didnt have to deal with.

 

[rickyb]

not this guy again jesus

i didnt like the last video, he just looked at a bunch of places with cheap housing for 25 minutes. i agree you can still buy cheap housing some places but for how long....