Banks and real estate sellers in 1998
Banks and real estate sellers in 2025
My wife and I bought a really nice two story brick town house in an upscale neighborhood, plus a brand new Jetta, with no credit history, $0 down, on a combined household income of exactly $80k. Real Estate was so cheap that the town house qualified for an FHA loan.
The US Government was fully functional with a budget surplus. 25 years of neocon, liberal, and fascist government has brought us here.
Yeah we should bring back Bill for a third term.
Corporations buying up all of the real estate and then price fixing the rent is what caused this. Also, AirBNB type apps, see previous sentence.
This is a huge problem, we need to significantly curtail the ability of corpos to buy up single family homes. They then turn around and recruit unwitting landlords with “dynamic pricing” apps, and use that as a means to collude and further jack up rental prices to insane levels across entire regions.
It should also be straight up illegal for foreign nationals to buy American real estate. And yet, we let them do it, in cash, in one of the most brazen examples of money laundering one can witness today. See Trump tower selling condos to Russian oligarchs at wildly inflated valuations for example.
The whole thing’s fucked. If we had anyone representing Americans in Washington DC things might be different, but they all work for corporations or billionaires from other countries so I guess we can just get bent in good ol USA.
You’re almost right. Housing should not be a path to wealth. Period.
I had an advertisement dropped into my mailbox for a local house up for sale for $1.7 million
I rent a fucking garage “apartment”… They put that ad in the mailbox that is attached to that garage…
Ya got me, I just like cosplaying as poor. I chose to live in a garage for fun…
How’re the winters and summers?
Cold, and hot/humid lol we get the “best” of everything… Below freezing winters and ~95°F 70%RH summers
I’d highly suggest looking into Habitat for Humanity. Ex-wife and I got this house for cost, $80K mortgage, and a $500/mo. payment. Forgot what changed but now the payment is $575.
I couldn’t afford the money required to fix most houses on the market to make it liveable, let alone the down payment.
I make okay money and I could barely afford an outdated, modest home in one of the poorest neighbourhoods in the lowest cost-of-living major city in Canada.
Something’s gotta give
