ThisIsJohnnyHere we go again 📉
I hope the housing market crashes so I can afford to move out of this shit hole
XillyWe talk about this often with the hope the market will crash again so we can buy a house. A house comparable to my parent’s home who paid less than 85k in 1992 would now cost nearly 300k. It’s insane.
A crash will not result in cheap houses for you to buy.
A crash will result in large corporations buying a huge amount of the housing stock for cheap, and renting them out at a higher cost because they can afford to and you can’t.
It’ll result in banks stopping lending so you can’t get a mortgage anymore.
It’ll skyrocket interest rates and deposits so you’ll have to save double what you did before.
A crash will fuck us all, because these days, everything does.
Every crash is a wealth transfer from the poor to the rich.
We get squeezed and forced to sell anything we have of value just to survive.
The rich then use this as their buying opportunity while we are desperate and prices are low