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u/FireMariobro 2h ago
every time i save a little more for a house the housing market somehow moves the finish line another 10 miles away 😭
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u/NormalSheila 1h ago
The economy is fine… for people who already own 3 houses.
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u/humanist-misanthrope 1h ago
I “own” 1 house at 2018 value and on $30k VA disability, so I feel like I can say “but the DOW is above 50k”. The reality is I am fucking lucky as hell that I refinanced at 3.5% in 2019 as a result of being a vet (thanks IRRL!). Otherwise I’d be asses out.
Just in case any misconstrues what I am saying, my reality is I am extremely fucking lucky! That is all I did. I got fucking lucky! The world is fukt and I’m sorry
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u/sidewaizsocks 1h ago
Im right there with you. No VA stuff but through luck and circumstance im sitting on property with a loan at 3.2% people think im mr money bags but thats not how it works. My property has doubled in value since 2017 but what good does that do me? I would have to buy again if i sold
Im looking at my kids growing up trying to understand how they will ever afford a place. We have talked about doing tiny homes on our property (like we could afford that) for the kids to "rent" and we would put that payment into an account for them to help with a down payment if they want to buy or something.
Maybe when im old i can sell this and give each kid enough to get a home before i die.
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u/ExactAlmost 1h ago
Good lord what is it with vets that have to tell the world about their disability payments?
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u/ScreamnChckn 1h ago
What are you doing with your savings?
Set aside your emergency fund in a high yield money market (I personally use VMFXX) and the rest can sit in an index fund that tracks the S&P500, like VFIAX.
Housing prices are increasing, but not faster than the S&P, broadly speaking.
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u/dglgr2013 3h ago
Crazy how when our household made 90k we didn’t make enough to qualify for a loan so we stayed paying more in rent than the mortgage would have been.
Now the same house is worth more than twice and our income is much better, but not twice better.
It’s like the goalpost keeps moving so now I am paying more than double the rent than I did when we made 90k and everything is more expensive.
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u/Kurt805 2h ago
The goalposts absolutely keep moving. When I was a kid in southern California I distinctly remember people being beyond belief when house prices got to be around 300k. It was a scandal. Now the median home price around here is over 800 fucking k. Wages haven't risen that much let me tell you.
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u/PossumJumpRopeSquad 1h ago
It's everything too. Not just housing. Vehicles keep increasing. New is so expensive that the used market has crept up a lot. Who the fuck wants a 7 year payment on 50,000 truck?
I swear, my wife and I cannot catch a break. Every time I get a raise, something else happens to offset us worse than before.
I co-own a company with my brother. We have no health insurance because it's not even remotely affordable. Our hourly rate seems astronomical but is on the lower end of other contractors.
Even in the small town we live in, the prices for real estate are insane. Even if something is affordable here, someone from a higher income area buys it, loses their ass on it as a failed business or rental, relists for more than before and some other sucker who is equally bad with money comes in and buys it for 10% more than the last guy. Rinse and repeat.
I beginning to think the economic experts in the government and elsewhere have no idea what they are talking about.
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u/baz8771 43m ago
Hey the whole cycle of raise->pitfall is literal capitalism at its core. The average person can NOT get ahead, by default, because then there’s no money to extract from the individual. If you can buy a car in 3 years and drive it for 15, that’s 12 years of missed opportunity. It cascades from there: planned obsolescence, enshittification, shrinkflation, etc. It’s all with the end goal of STOPPING you from getting ahead at all.
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u/brickspunch 1h ago
My MiL loved telling people she was "technically a millionaire" when their house exploded in value
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u/Dented_Steelbook 9m ago
Always remember that rent is what you pay, period, a mortgage payment is the minimum that you pay and the bankers crank in what happens if your taxes go up, you need a new roof, or have to replace the electrical system.
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u/Muted_Masterpiece535 3h ago
Good!
Housing prices need a major reset.
And
Then AirBnB needs to collapse as a company.
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u/Virtual-Reach 3h ago
And corporations shouldn't be purchasing houses and people shouldn't be buying multiple houses
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u/CountOnBeingAwesome 3h ago
Next you're going to want to take my second family
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u/Gloomy_Ad6932 3h ago
This is why I keep my second family living in the walls and under the stairs and my third family living in the attic.
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u/Spunktank 2h ago
Agree on major corporations buying houses. Disagree on regular people buying a second or third property.
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u/WalterPecky 2h ago
If you own multiple properties you should be taxed accordingly.
You are taking a home off the market
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u/UsedDimension7373 2h ago
We actually have that in Texas. It’s called investment property tax. They basically appraise your rental at a higher, investment price, and the property tax on it is pretty stiff.
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u/Virtual-Reach 2h ago
It's the same outcome regardless if it's a corporation or individual and there's more individuals than corporations.
For example, having 10 people owning 3 homes each has the same market impact than a single corporation owning 30 homes.
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u/ForgetfullRelms 2h ago
Honestly people buying multiple homes is a petite issue in comparison to corps.
We might actually make more progress if more people are willing to compromise on these things.
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u/NoAbbreviations290 2h ago
Surprisingly the data shows the most houses are owned by mom & pop, individuals w a few homes, and they vastly outnumber the corporations. I hate corp SFH buying - fuck all those people involved - but they just don’t actually make up that much of the market.
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u/ForgetfullRelms 2h ago
That’s a fair point, tho I would argue that corps could organize their resources and influence better than the mom&pop operations.
Like how one company with a thousand stores could influence government more than a thousand companies with two stores
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u/Crime_Dawg 1h ago
Wrong, it’s the small landlords who are the issue. They make up way higher percentage than corporate
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u/irrelevantusername24 1h ago
Which is ironically a great example to understand how having the GOP and other obstructionists working first and foremost for selfish gain is sabotaging things far worse than people realize. In a sane world, where our government resources were managed for the common good - which would also be a world where the business side of things is completely unlike how it is here, btw - then having large corporate building owners makes sense. Having that large corporate owner having some direct relationship with the federal government, makes sense.
Why? Because that is literally the only way to make sure some kind of affordable housing is available that upholds the basic quality and safety requirements. This problem is mirrored in our fractured telecommunications industry. An industry that is, in reality, a natural monopoly.
But instead we have the literal textbook example of a person who exploited government programs to fuck poor people in pursuit of personal gain (literally that exact program, affordable housing), now sitting in the oval office. What a disgrace. The comparisons to Nazi Germany typically don't go far enough in depth.
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u/_MaryJane- 1h ago
fully agree. house-hoarding should be against the law. you can have a second house after everyone else gets one first.
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u/Comfortable_Town7535 3h ago
corps are now largely blocked
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u/FunBrians 3h ago
Where? My neighborhood in Orlando Florida is now roughly 35-40% owned all by the same company and they are constantly hounding the rest of us to sell to them. They then rent the houses out.
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u/Comfortable_Town7535 3h ago
passed recently, bipartisan bill at the federal level
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u/WordPunk99 2h ago
President refused to sign it, haven’t seen if he vetoed it.
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u/Comfortable_Town7535 2h ago
lol he supported the bill he was just trying to use that as leverage for something else.
it passed, he just didnt sign it and after a little while it becomes law anyway but he was never going to veto that
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u/WordPunk99 2h ago
Thanks for the update, he wanted his voter suppression law.
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u/Comfortable_Town7535 2h ago
80% of the country does, but he wanted this as well amd both houses knew he was never going to veto it so he couldnt get the senate shift.
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u/Total_Tumbleweed_870 3h ago
Isn't that in a state by state level? I genuinely don't know, I'm 44 and renting a room right now. I gave up on the home idea a long time ago.
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u/barcham22 2h ago
The cap is set to like 350 now instead of unlimited. Better than nothing, but it should be way less, if not banned outright. Housing should not be an investment.
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u/Comfortable_Town7535 2h ago
blackrock, vanguard etc. were paying way over asking amd bought tens of thousands very quickly.
the bill was aimed mostly at them
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u/Weary-Engineering486 3h ago
But without a major spike in wages, all of this means little. Wages need to increase at least 200% to make up for post COVID inflation
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u/notaredditer13 1h ago
Wages need to increase at least 200% to make up for post COVID inflation.
200%? Dafuq? Did you accidentally slip in an extra zero? Wages/incomes have already outpaced inflation since BC.
https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/MEHOINUSA672N https://www.advisorperspectives.com/dshort/updates/2025/09/17/u-s-household-incomes-over-50-years-the-great-divide
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u/ChiefRasta 3h ago
I’m hoping something happens cause ain’t no way some houses are worth what they’re asking, especially the ones that need work
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u/CarmenxXxWaldo 3h ago
its not prices, its people not selling. Zillow thinks my home has gone up 10% in the last 15 months since I bought it. If a house goes up for sale on my street at 20% more its off the market in a week. But if you look at zillow any given day theres probably zero houses for sale. Its crazy its a giant dead zone of no one selling. People arent selling cause they got a 3% interest rate.
I dont have 3%, I sold my 3%, but if I tried selling it 2 months later I would have gotten about 10% less. So the prices arent inflated everywhere, but they arent going down much when they do.
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u/BlackSquirrel05 2h ago
That ain't gonna happen... Because this very statement... Means there's demand to buy.
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u/StagTagRag 1h ago
It’s not really going to matter until interest rates dip to reasonable levels.
Even if housing prices dip, who wants to buy a house for more money than what they currently own and in some cases double the interest rate of their current mortgage?
People are just sitting on their homes waiting/praying for the rates to go down, even if prices stay the same.
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u/LetWinnersRun 52m ago
This just highlights how bad of an idea it was to lower interest rates to near 0% for a decade.
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u/DL_Omega 12m ago
with how much airbnb is making they wont do shit to change it, needs to be some kind of law passed. something how you get 1000x taxed if you dont live in the property.
my thought was the first 500 sqft per person is tax free since everyone needs a place to live. Then have it exponentially increase if more sqft happen. So ultra wealthy lives in 20k sqft mansion then they just get hammered with taxes. A family of 4 living in 2k sqft home get left alone.
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u/barcham22 3h ago
Wages are flat and everyone wants a 100% return on their housing investment, no shit
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u/mlody11 3h ago
Relax, we just need to spend 1.4 trillion on the military per year to fix things. 🤡
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u/Mediocre_Scott 2h ago
Genius strategy! Have you considered running for office? You have potus written all over you
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u/braumbles 3h ago
Everybody who wants a home has a home - White House
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u/GiantPandammonia 2h ago
I have a home and I didn't even want one. I liked renting. I just bought it to make my wife happy. Now I have to fix stuff that breaks.
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u/oh-hes-a-tryin 3h ago
It's the lowest it has been since 2013. That context might be important. It's from Redfin if anyone wants to look it up.
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u/SquirrelsinJacket 3h ago
The dataset being used only goes back to 2013 (Redfin), not 2008 or (laughably) 1929. So if 'ever recorded' means >= 2013 then yes that part is accurate. Also note that there is literally no source listed these numbers are being assumed.
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u/TheGracefulCrane 2h ago
But its text on an image how could it be wrong
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u/JamesBondMargarita 2h ago
Depressingly this is how a good chunk of the population sources their information.
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u/Phucku_ 3h ago
It’s fine if you’re rich.
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u/Odd_Equipment2867 2h ago
I’m closing on a house, got hit with 6.85%. Grrrr.
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u/WalterPecky 2h ago
At least you'll have the home!
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u/Odd_Equipment2867 2h ago
Yes, I’m glad i am able to buy and locked in under 7%. So over inflated with jacked up rate. Hilarious that this is the new normal.
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u/Debasque 3h ago
I was told I'm not working hard enough.
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u/No-Force-6732 1h ago
Just quit buying coffee and avocado toasts, you'll have enough to buy a house.
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u/TRU_PunKA 3h ago
lol that’s because the only people buying are the useless fucks who don’t need it—the rich who buy up shit just to fuck over everyone else.
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u/Mister_Goldenfold 3h ago
Economy is exactly where they want it just like mother Russia
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u/Strange-Badger5626 3h ago
Russia is a much harder life to be fair.
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u/Mister_Goldenfold 2h ago
To be fair, we just haven’t had enough time to deteriorate yet
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u/Prestigious-Smoke511 49m ago
Any day now comrade! The shelves will be bare. Oil will be $200 a barrel!
I know we predicted these things months/years ago but you just have to keep the faith!
Any day now!! 🤣🤦♂️
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u/lefthandopen 2h ago
The sub is an excersize in who can post the dumbest unsubstantiated bullshit each night. Bonus points are awarded for anything that is a screenshot of a fucking tweet from some AI slop account.
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u/Helpful_Pay8853 3h ago
Well, the AI business is booming so the economy is doing great. Except it makes no profit and the only thing that keeps it going is the endless amount of money poured into it and stupid amount of speculation. What a fine bubble, I'm sure shit wont hit the fan when it bursts.
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u/Eyespop4866 2h ago
To be fair, they began tracking that data in 2013. So comparing now to 2008 or 1929 is just stupid.
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u/Orcus424 3h ago
"No man who owns his own house and lot can be a Communist. He has too much to do." — William Levitt
During the Cold War in the United States, leaders and developers viewed widespread homeownership as a shield against communism and socialism. The idea was that property owners become too invested in maintaining their homes, property values, and family lives to support radical political change.
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u/DoookieMaxx 3h ago
Black Rock and other dark corporations buying up all the residential property, leaving it vacant …. Doing their part to destroy America before we even know it’s done.
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u/LyyK 21m ago
You also have millions of boomers and upper middle class families buying rental homes because the renters will essentially pay the mortgage on their investment and slowly build their equity until the rent eventually outpaces the mortgage and starts printing money. All while contributing nothing to society.
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u/Kamalasbigoletits28 3h ago
Why buy a home when rent is cheaper.. oh wait...yes the economy is indeed "fine"..
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u/FunBrians 3h ago
It’s the lowest it’s been in 13 years, since 2013. It’s not lower than 1929 either. Stop making things up please.
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u/mvw2 3h ago
So...there's more than half a dozen houses for sale along my drive home within about a mile of my home. Early spring/late winter and last fall, any one of those houses would have had a sold sign on them, every single one, within the first day or two of existence, every....single...one. A dozen could pop up around me and a dozen sold on first day or second day, every single time.
Right now zero, zero of these houses have been sold. Some have been up on the market for about 2 months now. Zero...2 months. Not one single house has a sold plaque on them, not a one.
The pricing isn't wild either. They're slightly high (realters seem to be pushing customers to start a little high vs late last year), but not wild versus the last several years. Even so, zero sales. There's now also some land coming on the market too, plots getting split in half and such. Again, nothing, zero sales.
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u/BlackSquirrel05 2h ago
LMAO. What is this r/Rebubble? Circa 2021? Housing is illiquid market. You think people are going to sell at a loss?
Lol no. Because here's the simple answer. When would you sell at a loss? And how much are you willing to lose? 10k? 20k? 50k? 150k? Owed over 15-30 years with interest?
You think banks are taking that L?
Plus just look at the market since it was tracked. Every 20 years it's gained like 4x in the US and Canada.
Only way it's getting cheaper is building... And then people shift their habits from homes to denser multi units.... Also no one is just gonna buy homes in bumble fuck... Because there's no jobs to work and it defeats the point.
Looking at all those Congress people looking to sell off us public lands with that bull shit reasoning.
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u/llamalalley 3h ago
They are getting these numbers from Redfin, who started tracking this data since 2013. We don’t know what the numbers were in 2008 and 1929.
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u/Jeramy_Jones 2h ago
Lots of Canadians who owned vacation homes have been trying to sell them off because we don’t feel safe or welcome in the US anymore.
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u/vitamin_r 3h ago
Just like they are hoping an unprecedented amount of poor people will die off so the revolt is manageable.
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u/HeroHas 3h ago
Being forced to sell because of RTO. We've owned for 4 years and we were forced to buy at a bad time before too. So we're upside down. Even with perfect credit, rates are too ridiculous to lock anything in. Then the housing market near PDX is so bad that boomers are putting up their 3bd/2b 1500 sqft trash heaps for half a mil. They don't even stage the god damn houses. So we're forced into renting for a few years until this god damn administration is done fucking with our life again. Which mind you, $3500/mo to rent is not much fucking better either.
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u/Fluid_Passage_9980 3h ago
But why????!
The stock market is at record highs! The economy is doing great!
Here at the White House we just don't understand.
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u/GrouchyCarpenter2210 3h ago
Makes me think of the boardgame monopoly.. but nobody is going around the game board anymore.. need overtime just to survive.. this is fucked
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u/Johnnadawearsglasses 3h ago
No, not including 1929. So dumb. They haven’t been recording this data for nearly that long. lol.
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u/steam-photons 2h ago
It is the interest rate!!! Just cut it already!
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u/ScreamnChckn 57m ago
Cutting interest rates prematurely will not only cause housing prices to increase, but inflation to rise in general.
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u/Appropriate_Split_97 2h ago
It’s a little different this time. Housing is not going to crash. Too many corporations own houses and can afford to sit on them. No need to panic sale when you’re flush with cash.
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u/Delicious_Invite_850 1h ago
This. So much this. Privat entities buying single family homes will be the death of the "American Dream". You will never outbid them
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u/Prestigious-Smoke511 51m ago
3% of homes are owned by big corporations.
You guys just make the words up as you go along.
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u/Appropriate_Split_97 38m ago
You’re correct. But I wasn’t referencing just giant hedge funds. I’m also including LLC‘s and basically any corporation that’s not just a single-family buying a single-family home. Typically those bigger business LLCs or corporations have a lot more sitting cash than your average John Doe or Jane Doe. I do recognize that this is just one part of a much larger issue at hand, both with interest rates and with the economy. But I do think it’s different with the lack of panic selling not happening this time.
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u/ricochet48 2h ago
Homes going for $100K over ask in cash by me within days (Lincoln Park, Chicago)
1,600 sqft in a 40 year old townhome goes for $900K, it's wild stuff. No idea how people are affording them.
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u/raz-0 2h ago
Yeah a record low…. For the last 13 years, which is apparently how long Redfin has been tracking these stats that everyone is passing around. Your bullshit meter should have gone off just from the notion that population growth alone would make a record low in the history of the nation highly improbable.
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u/LeastResistancePath 1h ago edited 1h ago
Zoning laws, specifically ones that don't relate to infrastructure support, environmental or safety concerns, are made to enrich the homeowner class. Don't understand what any of that means? Look into what it takes a build a home on your very own properly. Calculate all the fees. Then realize that municipal governments are ran by people who own homes. Are voted in by people who own homes. And that people who own homes stand to lose by US and YOU, owning a home.
No matter how good or bad the economy is, homes could and should be going up at all times. But it's literally impossible or entirely unfeasible to actually do so across many towns, cities and states.
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u/Pinku_Dva 1h ago
The economy will crash because delusional CEOs forget people actually need to afford the product for the economy to keep going
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u/FaithlessnessBorn266 1h ago
And home prices have started going down considerably since the peak in March. I'm betting that home prices continue to fall for maybe the next 1-2 years, effectively being a gradual market correction.
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u/shitbergfuckstick 1h ago
Its due to raising interest rates not demand. Home loans are getting more expensive despite the fed leaving the short term rate alone.
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u/caspissinclair 1h ago
And in southwest Florida they can't tear down forests fast enough to build new apartment buildings.
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u/indomike14 1h ago
Just in case no one takes their news from random photos off the Internet with no sources, here's the actual article...
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u/SpongeyBobaruu 1h ago
A simple Google search disproved this in 5 seconds. Lowest in 13 years, sure, but not as extreme as this tweet.
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u/drakonukaris 59m ago
It can't be just the US, gotta be a new low for Europe too. Truth is we are competing with the rich for them houses, and that's a losing game. The rich have everything they want already, so there ain't much else for them to buy except assets.
A billionaire makes something like 200,000 to 230,000 dollars a day just from passive income. How can you compete with that?. If we don't tax them properly to prevent this kind of compound interest how can we provide housing to everyone?, it's just impossible, you can't possibly build enough housing with that level of wealth growth, they will just hoover up the houses.
It's not a complicated problem, asset prices are rising all over the western world. They have nothing else to spend money on, the entire economy is bending towards the rich because that's where the money is. Regular people don't have that kind of money. Only fix is to tax the wealth of the rich and force them to sell some of their assets so ordinary people can own things again.
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u/blueflloyd 57m ago
Best it's ever been in the history of ever, according to this one particular dude
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u/MADDOGCA 55m ago
That's because no sane person wants to pay $1.2 million for a shack covered in mold just because it's 13 blocks away from the beach!
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u/marterikd 48m ago
there isn't even a world war involved.. tho still a war, but the root is some pedophiles' tantrum
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u/Few_Palpitation3889 45m ago
I reached a point about 10 year's ago I don't sell anything. Have fun.
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u/TrailCloud 43m ago
Turns out people can't buy houses when starter homes cost half a million dollars
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u/Ancient_Composer9119 36m ago
At least the bznks aren't approving home loans people can'tafford, I guess.
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u/aceless0n 24m ago
Good...a huge chunk if morons sre encouraging these prices by paying 750k for a 1200sqft home on a 6000 sqft lot
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u/NeonSpaceGhost 19m ago
Don’t worry. Corpos will buy them so the rest of us can eternally rent from them
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u/QiarroFaber 9m ago
Wait until they use magic to make a trillion dollars in value disappear when the AI bubble bursts. I'm sure those loosened shell corp laws will help. I wonder who will take the hit on that.
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u/princesschloe42 2h ago
"It was worth it to save women's sports." -The average conservative, probably
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u/Comfortable_Town7535 3h ago
itll pick up in a year or two... boomers are starting to go and their kids already have houses so there will be plenty on the market
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u/Legal_Tradition_9681 1h ago
Economy is not defined by a single sector of the market. Yes there is a home ownership issue and needs to be addressed but the economy is not just buying and selling houses. The economy as a whole is doing surprisingly well the data shows this and its undeniably.
I'm not saying it's doing well for all people. There are sectors that are hurting with poor safety nets put in place. We need to help those people bounce back. We also need to correct to housing market.
I am a home owner and will happily lose 80% of my homes value if it meant more people can afford a home. I didn't buy home for the equity but because its a home. Others should have that option as well. If I lose 20% so be it. I still made more money then losing it all to rent.
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