Housing is looked at as a commodity now and not just by real estate investors anymore, everyone is realizing it's a safe place to invest and it's hedge against inflation. You can leverage someone else's money(banks) to buy something of full value in cash you do not currently have, can't do that with anything else. The monthly mortgage payment in 2023 money is going to be the same in 2035 except it's going to feel like a lot less after another decade plus of inflation. It sucks for regular people just trying to get a place to live where they want to live and work. Big businesses are renting in residential areas, Airbnb is widely used now in neighborhoods. Housing has fundamentally changed and many are predicting that individuals won't be able to buy property in the near future. Also there won't be another crash like 07-08 banks are making damn sure your qualified for the loans they give out, they aren't going to get caught holding the bag again, notice any foreclosures lately? Me either. This is the exact same thing I heard in 2013 guess what there are many many ways to buy besides conventional, if you want to own a home stop waiting for market corrections or interest rates to come down, find a deal that works for you and take it. If you can't shop on the MLS then don't there's other ways, I don't shop at whole foods but I still eat.
ferulic t1_jab830l wrote
Reply to comment by PhenomeNarc in ‘A housing market for almost no one’: Rising prices and interest rates have made home buying feel impossible - The Boston Globe by uxd
Housing is looked at as a commodity now and not just by real estate investors anymore, everyone is realizing it's a safe place to invest and it's hedge against inflation. You can leverage someone else's money(banks) to buy something of full value in cash you do not currently have, can't do that with anything else. The monthly mortgage payment in 2023 money is going to be the same in 2035 except it's going to feel like a lot less after another decade plus of inflation. It sucks for regular people just trying to get a place to live where they want to live and work. Big businesses are renting in residential areas, Airbnb is widely used now in neighborhoods. Housing has fundamentally changed and many are predicting that individuals won't be able to buy property in the near future. Also there won't be another crash like 07-08 banks are making damn sure your qualified for the loans they give out, they aren't going to get caught holding the bag again, notice any foreclosures lately? Me either. This is the exact same thing I heard in 2013 guess what there are many many ways to buy besides conventional, if you want to own a home stop waiting for market corrections or interest rates to come down, find a deal that works for you and take it. If you can't shop on the MLS then don't there's other ways, I don't shop at whole foods but I still eat.