×
Login Register an account
Top Submissions Explore Upgoat Search Random Subverse Random Post Colorize! Site Rules Donate
12

why the idea of :Just wait until rates go down/prices go down before buying a house" will never work

submitted by CovidHoldout to TellTalk 1.7 yearsAug 21, 2023 10:52:47 ago (+12/-0)     (TellTalk)

Whilst I'd love to believe the markets will correct and prices for housing will go down, i highly doubt this is gonna happen. The entire financial system system, tax system, etc are all based on absurdly high valuation of housing. If prices go down, so does property tax revenue, and with the recent CRT collapse, the revenue is already tanking as it is. Then you have the entire pension system propped up by housing, CRE, and derivatives against those "assets". There's a higher chance of the entire financial system imploding before house prices even drop by more than a point.

And for those saying blackrock buys on the cheap, there are a LOT of new schemes coming out of the woodwork to desperately limit the inventory housing available to the consumer.


19 comments block

The commies are right on this one, we do need to kill the rich.