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Fellow home owners, are you ready for the housing market to crash? (lemmy.world)

submitted 1 year ago by ericbomb@lemmy.world to c/asklemmy@lemmy.world

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I know I'm supposed to want it to keep going up as a wealth generator or whatever.

But like... I wouldn't be able to afford the monthly payments if I bought my house right now and it's scary. Also none of my friends are buying homes, none of them are even renting full places. Just like renting rooms.

So what are your feelings home owners of lemmy?

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[-] ericbomb@lemmy.world 5 points 1 year ago

Just the fact that no one can afford housing any more, and lots of folks bought property to rent out at this super high rate, so to not lose money they have to rent out homes for like 2k+ for small rentals.

So the most likely way, if it all, is all the rental properties are forced to go on market at the same time, and then they don't get sold so get foreclosed on.

[-] Wrench@lemmy.world 3 points 1 year ago

It's $3k+ for small rentals here.

And if you look at buying, pretty much the entire inventory is full of homes that were sold in the last year or two, relisted at 20-100% mark ups.

Fuck these dickheads.

this post was submitted on 29 Sep 2023

356 points (95.4% liked)

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