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Author Topic: American Housing Crisis  (Read 1948 times)

MrRoboto75

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Re: American Housing Crisis
« Reply #30 on: August 29, 2022, 02:56:43 pm »

I'd basically just say duck this housing market as much as possible. Like half those "Corporations" are just semi-rich individuals. And they are not all going to be successful with these strategies, since they're mistiming the market.
So there will be supply once they start folding.

I have zero hope of it getting better.  Hasn't my entire life.
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EuchreJack

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Re: American Housing Crisis
« Reply #31 on: August 29, 2022, 03:03:24 pm »

...there is the problem of inflation not going away, but generally you save up cash and purchase a property just as the economy leaves a recession.
During a recession, you can't get a mortgage from a bank
During a boom, you can't afford the house.
It's all about timing.

McTraveller

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Re: American Housing Crisis
« Reply #32 on: August 29, 2022, 03:32:13 pm »

First rule of moving house:  only move if you can afford it*.

Second rule of moving house: only move if you can't afford to stay where you are**.

*Probably worth the added clause "within your current means."  Basically, don't move to an expensive place hoping your means will catch up.

**This can (and should) include non-monetary costs like your house is dangerous/condemned, housemates are abusive, etc.
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EuchreJack

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Re: American Housing Crisis
« Reply #33 on: August 30, 2022, 04:42:38 pm »

...those rules tend to fuck with lots of people.

1) I'm unemployed
2) My housemates beat me

= FUCKED

Ideally, you got a car you can sleep in while you try desperately to find an employer that will hire you, even though many employers would rather not hire someone sleeping in their car.

It is also quite valuable to have family that will put up with you, and much rarer than I think many of us with this resource realize.
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