Economy Evictions are skyrocketing

Belaya Smert said:
Current economic trends with respect to the cost of housing are wholly unsustainable.
This may not be it; but the bubble will burst. Save it for first quarter ‘25 and we can blame whoever’s in charge for the failure and ignore the truth like we did in 08.
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There isn’t a bubble in the housing market.
 
Pre-pandemic houses in my area were renting for $1,500 - $1,800 and a duplex was 800.00 - 1,200. Now the houses rent for $2,500 - $4,000 and duplexes are $1,500 - $2,000. It is wild home it has surge since then.
 
Mr Holmes said:
I was told bidenomics is booming because there was a new high in the dow jones though.
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Greatest economic time ever except housing prices are still much higher than before 2020 & car prices are higher than ever, and so is car insurance. But the average working stiff has had a 5% increase in pay and unemployment is really low.
 
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He was trying to tell y'all the truth but nobody would listen.
 
Belaya Smert said:
You don’t see a slowing to sell/overpriced housing market in your area?
It hasn’t been a sustainable up swing
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Might be slowing but that’s very different than having a bubble. The real estate market always goes from buyers market to sellers, but the issue with the current market (most US cities anyway) is supply vs demand. Supply has been too low. I do agree post-Covid people were paying artificially high prices, but notice its even up from that period.
 
GoldenWolf87 said:
Are tenants given warnings/Letters to be evicted in FL?
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They are but down here it is very easy to get a 3 day notice from the Sheriff to get people out super quickly. The area I am in is going to crash really bad soon. The market has shot up so high but pay is a joke. People are already flooding the market with homes for sales but at the prices they are asking it will be a tough sell. We crashed really hard here in 05 - 06 and it will be bad again this time but probably not as bad because the corporations will buy up a bunch or the Chinese will. We have a lot Chinese money down here building rows of duplexes all over the place and wood frame apartments. People claim multi-story apartments can survive hurricanes but would not want on the 5th floor of an apartment building with a cat 4 or 5 coming through.
 
Humans are too stupid to deal with incredibly low interest rates.


Vast, vast, vast majority of people suck at stock investing. The average return is generally around 3%.

The expenses of buying and selling a house generally forces housing investors to stick to the simple and effective buy and hold strategy. So most people do considerably better investing in housing than the stock market.



But they're too stupid to understand that houses are a leveraged asset and leveraged assets are high risk.

All they see is $300k for a $1M house.
3% interest rate. 3% rent.
House increases 4% in value to 1.04M
40K pa off a 300K investment.
13%p.a!


And they mistake the effects of leverage for genius. They see the pile of gold and go nuts on the leverage.

Interest rates go up and they're fucked.

As are their tenants because the investor is too stupid to understand the risks of their leveraged investment and too selfish to solely bare the brunt of their mistakes.



As an Australian we have it so much worse than you yanks. Basically turned it into the national sport with massive tax subsidies :(
 
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Staph infection said:
They are but down here it is very easy to get a 3 day notice from the Sheriff to get people out super quickly. The area I am in is going to crash really bad soon. The market has shot up so high but pay is a joke. People are already flooding the market with homes for sales but at the prices they are asking it will be a tough sell. We crashed really hard here in 05 - 06 and it will be bad again this time but probably not as bad because the corporations will buy up a bunch or the Chinese will. We have a lot Chinese money down here building rows of duplexes all over the place and wood frame apartments. People claim multi-story apartments can survive hurricanes but would not want on the 5th floor of an apartment building with a cat 4 or 5 coming through.
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That is messed up.
 
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Yehudim said:
Greatest economic time ever except housing prices are still much higher than before 2020 & car prices are higher than ever, and so is car insurance. But the average working stiff has had a 5% increase in pay and unemployment is really low.
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Hey! It's the best time ever if you listen to soulless hacks. The economy numbers are great. Fuck the peasants!
 
White Whale said:
People are struggling to pay rent and other which will be a main issue for the upcoming election.
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When you post a thread I always skip over the article you posted so I can get to the in depth and well thought out personal opinion that you always provide. You never disappoint.
 
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