Housing is now unaffordable for a record half of all U.S. renters, study finds

Gritsngravy

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For the past 4 years, these housing crash channels been getting rich telling everyone theres going to be a foreclosure crisis and prices will fall off a cliff, meanwhile ~30% of new buyers in the south are paying all cash and 40% of current homeowners have no mortgage at all.

Same thing with these car channels. I'd like to buy a truck within the next year and these prices are barely moving down for vehicles people actually want but let them tell it, Dealerships are about to cut prices 40% to stay in business.
I heard someone make an interesting point about the housing, it’s not going to fall or they won’t allow it to fall because then the banks would be fukked up so you have to artificially increase the real estate market

It makes sense to me
 

UpAndComing

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Define "unaffordable"

Translation: It's unaffordable to live in the 10 cities that everyone wants to live in

Newsflash, the more desirable/demand a city gets the higher the higher the price people are willing to pay for it. There are 50-60 other cities with lower cost of living that people can move to. These non-Top 10 cities aren't "poppin" on Instagram and Tik Tok. The herd culture is getting worse
 

Rarely-Wrong Liggins

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And they still calling these first world nations. This is a mark of juvenile or failed nations.

We are in some unprecedented times friends. What we think we know of the world will change a lot in our lifetime. Housing is a necessity. Without it family cannot take root. Society has lost its way to capitalism unchecked

No. NO! It's not capitalism's fault, it's the people's fault. This nation just isn't working hard enough. It's not grinding and hustling hard enough outside of working hours. People aren't thinking positively enough. How are you ever going to afford a home if you don't think you are going to afford a home? Stop worrying about wages, income equality, food security, basic shelter, etc. etc. and focus on what you can contribute to your employer (if you are employed). If you're not employed that's your fault. It's a character issue. You don't think you are working therefore you aren't working. But even without an employer you should be brainstorming ways in which you can be an asset at the disposal of your local friendly corporation which provides to you this comfortable Capitalist lifestyle that you squander with your negative thoughts and grievances about fair wages, housing prices and job security. Go polish a C suite executive's shoes and offer to do more unpaid labor for them and tell them they won't have to worry about the nosey Government and it's meddlesome labor laws because you don't believe in those laws, therefore they don't exist. You do that and I promise you that you'll be kept so busy you won't worry about a home anymore. Hell, you will forget what your current residence even looks like. The Corporation will be your home, the work shall be your sustenance and your pay shall be the satisfaction of a job well done and the acknowledgement from management that you are indeed a person with basic human rights; the right to work tirelessly for a going concern and the right to forfeit all reasonable compensation. We'll leave the other alleged rights to the Commies and Socialists.

Now get to work!
 

Noriega

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For the past 4 years, these housing crash channels been getting rich telling everyone theres going to be a foreclosure crisis and prices will fall off a cliff, meanwhile ~30% of new buyers in the south are paying all cash and 40% of current homeowners have no mortgage at all.

Same thing with these car channels. I'd like to buy a truck within the next year and these prices are barely moving down for vehicles people actually want but let them tell it, Dealerships are about to cut prices 40% to stay in business.
Do you need a truck? Is your current car paid off?
 

spliz

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Define "unaffordable"

Translation: It's unaffordable to live in the 10 cities that everyone wants to live in

Newsflash, the more desirable/demand a city gets the higher the higher the price people are willing to pay for it. There are 50-60 other cities with lower cost of living that people can move to. These non-Top 10 cities aren't "poppin" on Instagram and Tik Tok. The herd culture is getting worse
This is a very simple minded way of looking at things.
 

beaniemac

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For the past 4 years, these housing crash channels been getting rich telling everyone theres going to be a foreclosure crisis and prices will fall off a cliff, meanwhile ~30% of new buyers in the south are paying all cash and 40% of current homeowners have no mortgage at all.

Same thing with these car channels. I'd like to buy a truck within the next year and these prices are barely moving down for vehicles people actually want but let them tell it, Dealerships are about to cut prices 40% to stay in business.

if u have cash, u should EASILY be able to find a good deal on a truck. because interest rates are so high, there's a lot of inventory on dealer lots.

there are even sites that show u how many days a vehicle has been on the lot, which means u can definitely get a deal on the truck because they are desperate to move it. these dealers have to pay for that inventory and when interest rates stay high, that held inventory becomes increasingly expensive to just sit on the lot.
 

UpAndComing

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This is a very simple minded way of looking at things.

No rebuttal, thank you for proving my point

Most people have only visited 3 or 4 states in their lifetime have the nerve to talk about what is "affordable". 0 perspective of the other 50-60 cities that are in the United States, the cost of living, the job market, the culture/demographics, etc. On top of not understanding how the Real Estate market works, and how desirability and scarcity plays into housing/rent prices
 

DonB90

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You keep prices down and revenue up, by lowering the costs of production & labor. That is the main reason why we have so many sanctuary cities, inviting in migrants to do jobs at below normal wages. Unfortunately, in a capitalistic society, not everyone can be in a particular class. So those whom are in the same class as the migrants, low skill, no skill wage earners, must compete with those people for the same jobs. That includes a lot of my ethnicity, but is not limited to only mine. The larger the labor pool, the easier it is to clamp down on the cost of labor. Doing that comes at the expense of the labor force, which in this case is at the expense of American citizens to draw in non-citizens who will do the work for significantly less.

This intentional reduction in labor cost at the expense of American citizens is being publicly spearheaded by Democrats (policies), and privately supported by Republicans (businesses). So both are intentionally contributing to the problem, each playing their part, giving an illusion to the masses of American citizens that they are on opposite sides of the migrant issue. Look deeply enough, below the surface level speaking points, and you will see they are of the same accord on this issue, in my opinion.
Repped
 

spliz

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No rebuttal, thank you for proving my point

Most people have only visited 3 or 4 states in their lifetime have the nerve to talk about what is "affordable". 0 perspective of the other 50-60 cities that are in the United States, the cost of living, the job market, the culture/demographics, etc. On top of not understanding how the Real Estate market works, and how desirability and scarcity plays into housing/rent prices
Son not everyone can just pack up and go to another state with a dollar and a dream. U are discounting mad shyt with this mindset. Family dynamics. Arrangements put in place. Kids that may alternate parents if there was a separation etc etc.
 
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I heard someone make an interesting point about the housing, it’s not going to fall or they won’t allow it to fall because then the banks would be fukked up so you have to artificially increase the real estate market

It makes sense to me
This 100%.

The housing market feels inflated, independent of supply and demand.

It would be like if every car on the market was suddenly worth $100k minimum (for base trim Kia or Hyundai) or higher, used cars included.

Yay, my Kia went from being worth $8k to $125k because "the market." Let's say the car is paid off. Great, I have a $125k car but the value of every other car went up exponentially....so now I'm stuck with the Kia. Worth lots of money on paper but I can't afford to upgrade, buy another ride or abandon this ride.

Someone that currently rides the bus but makes decent money? Tough to buy a $125k if you don't already have money or a nice car to trade in. That's where this housing market is right now. Lots of big numbers but it's mostly illiquid.
 

King Sun

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Define "unaffordable"

Translation: It's unaffordable to live in the 10 cities that everyone wants to live in

Newsflash, the more desirable/demand a city gets the higher the higher the price people are willing to pay for it. There are 50-60 other cities with lower cost of living that people can move to. These non-Top 10 cities aren't "poppin" on Instagram and Tik Tok. The herd culture is getting worse
Why do you guys like to dispute raw data facts? People live where the jobs are and most of those "affordable" houses are no where near jobs or in commute to an job. Look at what happened to the DFW?
 
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