14 ms·
First-Time Homebuyers Are Absolutely Screwed
- Overtonwindow 4y agoFirst time home buyers have it much better than others. As long as you can come up with the closing costs, the federal housing administration will cosign your loan. It's a great deal. No down payment.
- freitzkriesler2 4y agoShame this is flagged because it's an honest take on how screwed up the housing market is. The problem is entirely caused by real estate investors both foreign and domestic looking to park their hot money in something that can't be printed. Low-key hope the fed manages to collapse housing prices to goose these all cash buyers into the red.
- NovaDudely 4y agoI find Zero Hedge such an interesting website. 90% dull meandering analysis of noise. 9% absolutely loony things. 1% pure gold! Occasionally their data monsters pull out a winner but it can be a lot to dig through. Also as an Australian, "First time for you?". We have been waiting for a gap into the market for well over a decade.
- foobarbecue 4y agoAnd which is this?
- zachthewf 4y agoPart of the 90%. True but not particularly insightful.
- readthenotes1 4y agoon a long enough time frame, the odds of finding something useful approaches 1;) On a serious note, I first heard of the covid pandemic around new years, still in 2019--a few months before it got on any other news sources' radar
- NovaDudely 4y agoIt can also be a case of confirmation bias however. I have seen some people that have seemingly made some apparently near perfect predictions about wild far out things only to check their back record and find 1000 misses on other things. If you have the time to dig through these kind of site they can be really cool and useful however it is usually only in hind sight that you can figure out what was really worth paying attention to. I am not down on ZH, they do some really neat things, it is just that it sometimes they need a little boiler plate warning on their content.
- smitty1e 4y agoZeroHedge has predicted 87 of the last 3 crises.
- wyldfire 4y agoI know close to nothing about this website. But in a matter of seconds I'm confronted with things that make me want to take it less seriously - an ad for a mail order bride, the article's author is "Tyler Durden", obvious editing errors (though sadly these are more common since many websites like this don't actually have editors). The article might be bang on but I wonder whether it makes sense to take it seriously when there's red flags like this.
- ashwagary 4y ago>the article's author is "Tyler Durden I believe the vast majority of articles on ZeroHedge have the author listed as Tyler Durden. Might be a placeholder for anonymous submissions.
- operatingthetan 4y agoIt's sort of Q adjacent and appeals to a similar set. Thus the 4chan-like signifiers (every author writes as "Tyler Durden" and the topics tend to be paranoia inclined).
- yucky 4y agoHow could they be Q-Adjacent when they have had so many articles over the year lampooning them?
- deleted 4y ago[deleted]
- hellojesus 4y agoDon't forget the comments are one of the best parts!
- operatingthetan 4y agoRemind me of Art Bell's callers in the early 2000s.
- beebmam 4y ago
- zahma 4y ago“This will be the norm until we get more inventory in the market." I can see how that would be one analysis in dense and growing cities, but I wonder how much of this holds true in less densely populated areas where there are homes available, but they are unaffordable because of insufficient wages.
- refurb 4y agoThis is completely expected in a higher interest rate environment. Home prices are sticky and don't change very fast. A good example is the financial crisis of 2008. Housing prices didnt bottom out for 2-3 years. Were basically at the start of the price reset that will likely take years.
- foogazi 4y agoIn 2007 my new neighbor was happy he bought at 50k from the peak - it would go down 150k more in the next two years Then take 8 years to make it back to the price they paid