>>511242297The thing that fucking gets me is that houses should depreciate over time. The materials degrade, the foundation shifts, they need repairs and upgrades, there's mold damage and other shit. But somehow none of that factors into the price and the price keeps going up and up every fucking year senselessly. Cars get cheaper the older they are because the market is rational, it knows the engine only has so much lifespan until it shits the bed, but the same applies to houses and yet somehow the market is irrational on it. You could say okay the land has value, but the teardown and replacement makes used land less inherently valuable than undeveloped land, teardown is expensive. Yet it doens't influence the price one bit.
I'm not buying at the top. Houses are not worth this much fucking money. If me and a few bros built a house from scratch we could do it in a year or two. So why does buying a house take 18 years of salary to pay for? Doesn't make sense. They removed us from the gold standard and all the money moved to using houses as the new asset base, which is retarded because people need to fucking live somewhere. It's a pile of wood. Not even wood, shitty particle board eaten by rats and full of mold and water damage. A million fucking dollars, that's the average price on a single family home in my area, $1,000,000. It's ridiculous. I'd rather rent forever than pay that.
At this point renting is cheaper than a mortgage and has less liability for repairs/maintence. It makes no financial sense to buy. Then again the stock market hasn't run on fundamentals since the 80s so what do I know. It's all a racket, a jewish finance game rigged in their favor. Who cares if our lives get destroyed so long as a kike makes a profit off it. There is a reason the Bible called usury a sin.