We talk about this often with the hope the market will crash again so we can buy a house. A house comparable to my parent’s home who paid less than 85k in 1992 would now cost nearly 300k. It’s insane.
A crash will not result in cheap houses for you to buy.
A crash will result in large corporations buying a huge amount of the housing stock for cheap, and renting them out at a higher cost because they can afford to and you can’t.
It’ll result in banks stopping lending so you can’t get a mortgage anymore.
It’ll skyrocket interest rates and deposits so you’ll have to save double what you did before.
A crash will fuck us all, because these days, everything does.
Whenever I was attempting to house shop in my city I couldn’t find anything that was livable for less than $400k. I grew up very poor so I’m not being hyperbolic whenever I say “livable”. I was not looking for anything glamorous. There were houses that should have been condemned going for $350k. This was in a “medium” cost of living area. I couldn’t even imagine what it would cost to buy in a high cost of living area.
We talk about this often with the hope the market will crash again so we can buy a house. A house comparable to my parent’s home who paid less than 85k in 1992 would now cost nearly 300k. It’s insane.
A crash will not result in cheap houses for you to buy.
A crash will result in large corporations buying a huge amount of the housing stock for cheap, and renting them out at a higher cost because they can afford to and you can’t.
It’ll result in banks stopping lending so you can’t get a mortgage anymore.
It’ll skyrocket interest rates and deposits so you’ll have to save double what you did before.
A crash will fuck us all, because these days, everything does.
Whenever I was attempting to house shop in my city I couldn’t find anything that was livable for less than $400k. I grew up very poor so I’m not being hyperbolic whenever I say “livable”. I was not looking for anything glamorous. There were houses that should have been condemned going for $350k. This was in a “medium” cost of living area. I couldn’t even imagine what it would cost to buy in a high cost of living area.