181–190 of 246 posts
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Will the vast majority of houses rise in value?
Almost everywhere in the world, yes. There may be some localized falls, but those are temporary and as long as there's people having to live in a place, prices will keep going up, the whole system is built for making that happen.
There's a lot of noise about supply, demand, investment cycles, AirBnB, but the elephant in the room is that USA housing is a casino and the banks are the "house", which always wins. The banks only care that housing prices remain astronomical--the mechanics are not important--so that mortgages must be taken out. And, as recent history shows, the mortgage casino is "too big to fail" because of the globally-systemic ro…
It’s TBTF because it’s the source of the vast majority of household wealth. We turned housing into a retirement program, stealing from future generations.
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It’s pretty unusual that we have people approach residential real estate in this hyper-financialized way. It’s a weird 1930s way to inject liquidity, and we have better tools now. An individual is fucked if something happens to crater the price of their house. Nobody hedges, really. It’s a toxic system.
> An individual is fucked if something happens to crater the price of their house. If they've already paid off the house and they want to sell it without buying another house, sure. If they have a mortgage on the house, someone gets screwed, and that someone is the bank that issued the mortgage. The mortgage is secured by the house . You can just let them take it.
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Almost everywhere in the world, yes. There may be some localized falls, but those are temporary and as long as there's people having to live in a place, prices will keep going up, the whole system is built for making that happen.
Not really. If new suppy growth outpaces demand then prices will drop. Recent advances in robotics may make construction much less labor intensive, crashing prices in many areas.
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So in those 7 decades there has been build 175 million houses. Population of usa is around 350 million. Most people probsbly also not living alone and some houses that were build before 1950 probsbly still are in use just maybe modernized. Not familiar with USA market but wondering: Are current houses just more fragile and fell apart within 50 years?
Yes, Americans build everything of wood, rather than cement or bricks, like in the civilized world. Remember the tale about 3 little pigs? After 50-70 years it falls apart and needs to be teared down.
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Don't fall for the socialism anti-landlord brainrot. People have plenty of places to live. This is more about the fact that people want to have the same financial opportunity to own a house. It sucks that the older generation had an opportunity to buy a house that has risen in value, with an area that got gentrified with more stuff around them, and were able to refinance during Covid at like 2-3%, while the younger g…
> Don't fall for the socialism anti-landlord brainrot. Then how do you explain the massive number of evictions and hockey-stick rise in rent prices from 2010-2020 without blaming greedy landlords? "Oopsie doopsie rents fell up?"
We the HN community are engineers, how can we find a solution to fix this? My thinking is we need a portal to advertise affordable housing or starter homes. Housing is the basis of the family.
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It amazes me that in the US you can fix for the life of your mortgage. Here in NZ 5 years is close to the max.
you can fix for full mortgage in denmark, europe too. I'm not sure which other countries do this.
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Note that "home" ≠ "house". Gp said "home", which is correct, and your response is a non sequitur.
Gp said home but the article he links to is talking about houses.
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There are ~30 vacant homes per homeless person in the US. Tell me how that makes any sense.
Taking a mentally ill fentanyl addict from San Francisco and dropping them in a condemned house in Scranton PA is not actually going to solve the problems you think it will.
99 percent invisible did a podcast series on the reality and nuance of homelessness. It is the best take I’ve seen and really opened my eyes on a number of things. Episode 3 covers housing first, but I would recommend going through the whole thing.