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it’s cute how people predict the housing market going down / crashing every time something happens. I don’t think a crash will happen (maybe it’s going down, m
by mirceal 5y ago
it’s cute how people predict the housing market going down / crashing every time something happens.
I don’t think a crash will happen (maybe it’s going down, maybe not, but definitely not a crash) and I believe we are moving in a direction where less and less people will own the home they are living in. It’s sad really but this is what late stage capitalism looks like.
As for people that want to buy a home? buy one if you can afford it. don’t try to time the market, don’t worry about crashes and bad deals. Just do it. In 10 years what happens right now will not matter.
- refurb 5y agoYou realize home ownership rates are near all time highs?
- mirceal 5y agohmm... no. https://fred.stlouisfed.org/series/RHORUSQ156N https://fred.stlouisfed.org/series/RHORUSQ156N https://www.statista.com/statistics/184902/homeownership-rate-in-the-us-since-2003/ https://www.statista.com/statistics/184902/homeownership-rat...
- refurb 5y agoYour graph proves my point. It's lower than right at the 2005 peak, by 3% (though only 1% in 2020), but still higher than any point before 2005, thus near record highs. If there were a crisis in home ownership you'd expect it to be at historic lows.
- tastyfreeze 5y ago> It’s sad really but this is what late stage capitalism looks like. This is what capitalism hamstrung by government regulation looks like. In many areas builders can't respond to demand and make a profit due to heavy regulation of construction.
- chii 5y ago> less and less people will own the home they are living in as long as the rent isn't increasing faster than inflation, why should there be a problem? You don't need to own the home to live in a home. And if you own the home, it doesn't mean the cost of shelter isn't paid by the owner (it's just more invisible a payment).