Housing prices are never going to crash are they?

housing prices are never going to crash are they?

>live in Phoenix metro area
>housing prices increase 10% every year

How is this even sustainable?

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They can get a lot higher.

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try melbourne

Phoenix metro is getting flooded with filthy Californians thus driving the price up.

I don't think there will be a crash anymore, at least not here in Texas where Californians keep moving in.

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I live in chile. here prices seem to keep increasing as well. even rent has gone up, though they try baiting people by halving rent for 3 months and then rising it again... at higher prices than the starting point.
this fucking crisis will make inflation explode.

Ease of access to credit on an inelastic product (you either buy or rent to pay someone else's mortgage). The real shit sandwich is that when it fails anyone looking to buy at a reasonable price will be outbid by foreign investors looking to off-shore their money, companies cornering the rental markets and lenders who would rather a house sit vacant than take a loss.

>average wage - $37,000
>average house price increase year-on-year - $43,000
there is literally no way to buy a house here. Even if you use 100% of your income on mortgage payments you won't make it.

How is crypto in chile ? I always wanted to go there

It will never crash again sadly. Buy now or cry later.

Companies like this keep buying up any decent houses.
openhousepm (.) com
They share the rent with foreign investors. This is a Japanese real estate company that has expanded into Dallas. They purchase HUNDREDS of homes each month. The chinks are your landlords now.

Letting them crash would cause massive immediate short-term problems, whereas letting them slowly rise increases the dependency of the average normie on the government and increases the power of those in control.

How do you check which ones are foreign owned? I'm doing a little snooping and it's confusing. The person of contact listed is a (white) Joshua Edward DeShong, but he looks young and sources are saying he's only 27. Is this some kind of shell?

>live in Phoenix

Why? You can move somewhere else and it'll be better. Even NM is better than AZ at this point. Thanks CA.

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>Even NM is better than AZ at this point
Its not

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>not renting
lmao

NM is AZ but cheaper.

Totally been considering regional Vic when I finish uni. Can get a three or four bed house in Traralgon for under $300,000

>housing prices increase 10% every year
I came to Zig Forums right now because I was hoping a thread like this.
I figure it has to be inflation. I see so many houses for sale here in Los Angeles. I looked at Zillow and Houston was covered with red dots too. NYC looks like a red blotch.
I figure this can't stay like this forever. I've been following the housing market for a long time and after the riots houses started going up like crazy. The way I see it, we're in some weird pre-panic phase before the market really tanks.
The election, the pandemic, and the Fed's generous deferral of rent has just pushed everything down the creek for a bit.

Unless investor confidence that their assets will continue to appreciate, or if the Fed injects TONS more cash for people paying mortgages, then I don't see how this will play out well in the near future for those who already own.

If that's Melbourne, then I really do feel bad for you Aussie anons.

>house prices increase 10% per year.

Exactly the same rate as the stock-market. Really makes you think.

>NM is AZ
There's no constitutional carry in NM. Nice try.

Oh man, this.
Mortgages and rent being deferred until the new year only compounds the amount owed. I honestly don't know how this house of cards remains standing once those payments come due, and eviction is back on the menu.

Priced in faggot

Best part is (at least in So Cal) all their "gains" and "appreciation" is almost exactly the amount of property tax these cattle pay.

>look user my house went up another 20k!
Ok zillow says you pay 22k a year for browns to get free everything and brand new schools for your nonexistent children
>angry npc noises

yet they didnt crashed in March.
REALLY MAKES YOU THINK

stock market have recovered already.
of course people dont instantly sell their houses when things look bad. it's a slower process.

tfw only own one house

It is. Also the average house price in Auckland New Zealand is 1 million NZD and the average house increases 1000 NZD per week in value.

Truly the biggest of clown worlds

The problem is, as some user stated earlier, if the prices try to tank these huge institutional investors come in and scoop up the discounted homes. It might be even worse so that these buyers are for example chinese and so you have to pay rent in America to chinese investors. LOL. The housing market is so absurdly fucked.

but if the housing market crashes, then normal people can buy the houses at a discount from the chinamen right?

>discount from the chinamen

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Prices are never tanking because interest rates are never going up.
As long as interest rates are zero then it doesn't matter if houses are affordable or not. You borrow money and buy one and that's that.

Well it would basically turn into a bidding war. And I don't think the china men are selling easily. You see the problem is that everything is correlated to the demise of the US dollar. Chinese used to buy treasuries with their dollars. However, now treasuries yield nothing so they don't want to buy them anymore and instead they are buying other assets such as real estate and stocks. Like any other investor they want return for their money and because of the FED policy you cannot make money if you are not involved in the stock market or housing market because yields are artificially low and way below inflation.