Just 5 years ago you couldn't fit a needle in my city, now every street is littered with for sale house signs.
No one is buying and everyone is selling

several houses in my neighborhood had been for sale for over a year, and unoccupied even longer. they aren't lowering the price though, all owned by an LLC. do they get some benefits for listing it "for sale" and no actually selling?

>>512368708 (OP)
>No one is buying
Wall Street firms will be, they own massive numbers of American homes, now.

Apparently that was illegal, until 9/11 or something.

>>512368872
>do they get some benefits for listing it "for sale" and no actually selling?
it sure makes a nice way for the property tax assessor to raise your valuation :D

>>512368872
they're taking care of the houses so its all good. eventually they will lower the price.

I will never own a home, just my lame car and some luxury soup for special occasions

>>512368708 (OP)
I am only 1.5 miles from work and on the way there there are 10 houses just sitting idle with a sign with a fat ran through middle aged whore on it.
It is actually probably up to 12 now, they don't move anymore and keep growing, the asset management companies aren't passing them back and forth anymore.

>>512369125
>luxury soup for special occasions
having soup is considered true opulence for non-boomers. is it really good soup?

The Boomer was born in a bellcurve centered on the year 1955 and has two tails +15 and -15 years. These people on average, median, bought 3 houses, and half of them are unoccupied because they are used as investment vehicles and not places to live. House prices rise 15% per year basically for the last 60 years straight, if you held for 60 years, you realized a 900 thousand percent gain.

Now that those boomers life to be 79 years old, on average, again +15 and -15 years. We can add 79 to 1955 and get the number: "2034". Which is when all those boomers let go of their houses to whomever, who are going to promptly sell them, rent them, live in them, or continue using them as an investment vehicle. Since many will be selling them, it will reveal to everyone that Housing market isn't a sellers market, it's just that money that holds its value simply isn't for sale, and the transition for people who put them up for sale, will reveal that there are twice as many homes in America for everyone who could in theory want one. And the only fact that product isn't moving, is becuase houses are money and your green shabisconfetti is not a money. And so when the total boomer death wave collides with the economic base-reality that there are more houses available than can be lived in by the people, then the entire concept of: "A house storing 50 years worth of median wage labor" and 5500 years worth of minimum wage labor, is something the historians will note as the 2nd largest tulip bulb mania to ever exist

And this is perhaps why the powerer bankers that be are juicing up this market with trillions and trillions in Shabisgreen paper

Sell your shitbox of rotting beams and cracked concrete for 2 million US Dollars, while you can, be like the ant, hustle in the good time. I was there in March of 2005 and bought a house worth 2 million dollars for 50 thousand

Be ready for the fact that there's no gain there, the house is worth $100k. Just like when you bought it in 2008

>>512369125
your car is a combi horse/wagon

>>512368872
They get to set the market price for homes which allows them to increase the cost of their rental properties. They’re net negative however.

>>512369317
Interest rates hit rock bottom early covid, millenials said
>AHA! Now is the time to buy at 40% inflated prices from boomers, rates are low
Boomers laughed all the way to the bank, millenials got 30 year mortgates they could barely handle and are now getting divorced and/or some job loss. The homes that sold 30-50% over value early covid are hitting the market again now at their actual value. Millenials get the rope, boomers win again.

>>512368918
That's why the economy is going to collapse, even if they own all the houses the price isn't raising fast enough to keep up with taxes and inflation, not only there is a bunch of houses up for sale in my city, there is a bunch of retail and business buildings that have been empty for years, I know of a couple of entire plazas that have been vacant for a decade or more now, my city has been declare a doom loop where more business are leaven creating less economic velocity, creating more business to close, so on, so forth

>>512369386
also their children wont get shit, its going to a $250.000/year retirement home with personal nurse. and every time Ranjeet from microsoft anti virus calls he gets to empty their bank account.

>>512369386
>who are going to promptly sell them
This is actually built into the tax law and it is why Trump now wants to remove capital gains from home sales. If you inherit a property, you may immediately sell it and pay no capital gains. However, if you hang onto it, you will be required to pay capital gains from the purchase price if you sell it in the future. This means when boomers die, their homes will flood the market, because nobody wants to take the capital gains haircut.

>>512369386
Once I have land I own then I need to establish a generation to hold onto it and I want that generation to build generational wealth not capitol wealth IE the land and whats on it goes to thier kids goes to thier kids goes to thier kids
boomers sold thier fathers land for rentals and airbnb you cant generate on a rental
horny young retards of the millennial and gen x generation jumped right into making families while living in rentals becuase they got kicked out by thier boomer parents and diddnt buy land

>>512369125
mmmm i also enjoy splurging on a good bowl of luxury soup from time to time

they're selling at top price and never improved anything so they got to live there for free

fuck you got mine

>>512368708 (OP)
TOTAL HOOMER DEATH. FUCK YOUR EQUITY. SHOULD HAVE SOLD IN 22, NIIIIIIGGGEEEERRRRSSSSS.
>inb4 my market is still going up shut the fuck up retard

>>512368918
>Wall Street firms will be
Not if you have high property taxes like Illinois, New Jersey, etc.

>>512369563
I bought like a year before covid. Everyone was saying prices would crash and I just thought "I don't think so".

Hahahhahahahahahha

>>512370017
People are fucking dumb
>Rates are low buy NOW at ANY price
Just refinance stupid niggers. Covid was the worst time to buy, that extra 400K they paid to some boomer is gone. Ideally they should have bought before the great coof, or after the great coof and refinance later

>>512370367
this. long term historically high rates have been the best time to buy, low rates the best time to sell. if you are looking to time the market.

>>512370367
Nobody seems to know how leverage works and it makes me want to fucking rope.

>>512368872
>all owned by an LLC. do they get some benefits for listing it "for sale" and no actually selling?

Here's the problem: since the covid lockdown fucked with the housing market, real estate value and speculation has been spiralling out of control. The way that the game is played now, the purpose of real estate is no longer to sell homes to people that intend to live in them. It is to trade the real estate back and forth between real estate companies like poker chips in a high stakes gambling den, where the property is a unit of currency that represents some imagined future debt that under current speculation economy rules you can treat as real money.
This inflates stock values and GDP, which are based on the theoretical payouts of this imagined future debt.

tldr: the housing market is fucked because the real estate industry figured out a way to make MORE money by NOT selling houses to people that actually intend to live in them. Once a house has occupants, its out of the game. Off the table. As long as they are still unsold, they can play with the 'expected value' of the property as much as they want and sleight of hand new wealth into existence in a game of hot potato where everyone gets rich so long as you are not the ones holding the ball when the market crashes.

>>512369386
>houses are treated like money
>houses are not money though
>there will be correction in this misconception

hmm, i dont think you are wrong

>>512368918
I think you're talking about after the 2008 bubble pop, they let the Federal Reserve buy up MBS to help prop up the market which was not legal before.

>>512368708 (OP)
There won't be any crash. There won't be any collapse. These scenarios excite you which is why you chose them over the reality which is slow tedious decline until the day you get sick and die.

>>512372621
Sounds just like CDO's 2.0 electric boogaloo.

>>512374356
Hopefully there is no crash, that way everyone suffers further until they fucking explode and go full Luigi, the way they're managing the economic and specially the housing market is unsustainable

>>512374647
>everyone go full Luigi
we all know you won't be doing shit after 2020 anon

>>512374424
Well, we never made it illegal for banks them to do the shit that caused the 2008 financial crises again.
This is why you need the government to regulate the economy at least sometimes: because there will always be bad actors that are willing to make a buck even if it means poisoning the drinking water that everyone needs to live. Either they convince themselves that the harm is theoretical and will never REALLY happen ("People have been drinking from that reservoir for a hundred years and everythings been fine, *I* can't possibly ruin everything for for everyone") or they are aware of the harm and are confident that they can skip out once the consequences start with all of their money.

So long as it is legal for do this shit, they have no reason to stop. Indeed, via fiduciary responsibility in some cases they might not even be legally ABLE to stop.