The housing market is looking less and less appealing to consumers

https://www.marketplace.org/2022/11/25/housing-market-less-appealing-to-consumers/

by ianai • 4 years ago

12 9 4 years ago

marketplace.org

bradleyjg2• 4 years ago

Here’s inflation adjusted Case Schiller: https://fred.stlouisfed.org/graph/?g=kYEb

Even if you knew nothing else this looks ominous.

ratsmack• 4 years ago

When trillions of dollars of easy money is pushed into the economy, especially with the low interest rates, this was bound to happen.

throwaway5959• 4 years ago

My wife and I are both working professionals and the math doesn’t make sense in LA. A number of the properties we’ve looked at here are up over 30% since 2021. It’s just greed at this point on the part of property sellers due to low supply.

treewalking• 4 years ago

In what way is it “greed” and not “how much houses cost”?

bradleyjg2• 4 years ago

Inasmuch as incumbent homeowners pressure politicians to rig the market in their favor.

AddingValue2• 4 years ago

Rent in the Soviet Union (no private property, all state owned houses) was like $70 a month for a flat.

Capitalism allows unregulated (no limits) speculation with life depending resources "assets" like water, food, energy and housing, with the catastrophic consequences we all - globally - experienced.

(like 30 year old "children" still HAVING to live with their parents, or homeless die from cold on the street)

HURRAY! Another mankind fuckup.

credit_guy2• 4 years ago

It is indeed a fuckup. But you're implying that the solution is communism.

Since I was born in a communist country, I can tell you this: it's easy to show low prices on paper. It's when you need to deliver the goods that's a bit more complex. People were paying low rent, but couldn't move from one city to another one. You would a job when you finished college. If you didn't like it, well, you didn't need to like everything in life. You'd get a place to rent too. You didn't like it? It was a free country, you were free to not like it. Just not free to express your various dislikes.

AddingValue2• 4 years ago

That is a good comment.

So what can be learned?

The resume could either be:

1) state needs to make speculation on water, food, medicine, energy illegal or tax it highly (well that usually does not work says Panama)

2) set "maximum" prices (A very socialist thing... also not so great as it hinders investments)

3) US & EU & Asia & EVERYONE gov NEED to buy up at least 30% of all real estate (at the price it was before the bubble) and gurantee their citizens a fair rent & energy & heating.

Guesd option 3 would be best solution.

The housing market is looking less and less appealing to consumers

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