The stupid 'house flipper' tv shows did none of us any favors... they gave everyone the idea that houses are investments rather than a place for people to live.
Comments
Log in with your Bluesky account to leave a comment
Property has always been an investment, what the fuck are you talking about? People buy houses and them sell them when they're worth more than they paid. This has been a thing since forever. Like what?
agreed. It has always been an investment. But these days, every clown out there thinks they can slap a coat of paint in the kitchen, change a couple of tiles, then resell it for 3x the price. They are buying simply to profit, driving up the prices. They are not buying with the intent to live there.
Tell me you don't understand the housing market without telling me you don't understand the housing market. Yes, remodeling helps the price go up a bit, but 99% of the price has nothing to do with that.
Not going to argue with you. Will gladly engage in a discussion. Entry level houses... ones affordable to those on the lower end of the income spectrum... are being purchased, 'upgraded', and sold at a dramatically increased price. It's a predatory practice that shuts out average American family.
I do understand that there are many other factors involved. Interest rates are insane. Predatory lending practices don't help, either. Property values are artificially inflated at an astounding rate. The market is just brutal for the average family right now.
Prices have everything to do with location, land, and demand. There is plenty of decent homes for people to move into. The problem is we all love to get on the coast and be in dense populations and therefore housing is scarce and going to go to the highest bidder. I'm guilty of this too.
Totally agree with this. I don't think scarcity is an issue outside those key locations... coastal, lakeside, big cities, etc. I live in a somewhat remote area currently, and there are plenty of shitty, run-down properties that are listed for $300k+. But the poverty/unemployment rates here are high.
At some point, banks started offering loans specifically for flippers. You only had to pay the interest and then you paid the entire thing back when you sold again.
Comments