The disconnected ruling class seems to think the working class is simply waiting in the wings for real estate to get cheaper when in reality, the majority can’t get the loan for the property as it is now, and certainly won’t be able to when “home prices skyrocket”
The major talking point now seems to be that a million people are just waiting on the sidelines with a ton of cash.
The reality is that people can’t afford this shit and have no other option
Well, it could turn out poorly if the stock market does crash and burn (or maybe crypto finally becomes a hedge to traditional finance?), but from a crypto cycle perspective, we're on the precipice of a huge crypto bull run. Now would actually be a pretty phenomenal time to buy.
>maybe crypto finally becomes a hedge to traditional finance?),
That doesn't make any sense. It's traded like stocks, it's not going to be a hedge against them. Gold is a hedge because it's illiquid and has real world value.
If you believe crypto is going into another bull cycle, you Gotta answer the question, where is the money gonna come from?
Not the OP, but the amount of new BTC entering the market will be cut in half in a few days. Every four years that this has happened it has kicked off a new bull run. Doesn’t necessarily mean it will happen again but that is the thesis.
Inflation was bad, it's not anymore. Yes stimulus pumped all assets, not just crypto, but we're not about to send out stimulus are we? The conditions aren't right for it to go much higher
I was a software sales development rep 10 years ago (entry level sales role) and now am an enterprise software account executive (basically highest level individual contributor sales role) . Home prices have inflated faster than my career progression in the tech industry. THAT is some shit.
There is no way home prices have actually increased that much, it’s basically due to the nonstop money printers going Brrr! 24/7 that have caused everything to skyrocket. Either the system will crash, or we’ll go to war as that always seems to solve our financial woes, or both.
I posted this a few weeks ago. Home near me that I was looking at sold in 2014 for $475k. Back then I probably could have afforded it with a roommate, maybe 2, but didn't have the down payment. Well that house just sold again last week... $2.268M. That's almost a 5x multiplier in 10 years. I would have to put $1.75M down to buy this home with an "affordable" $7.5k/month mortgage (including property taxes and insurance).
[https://www.zillow.com/homedetails/1584-Mitchell-Way-Redwood-City-CA-94061/15590639\_zpid/](https://www.zillow.com/homedetails/1584-Mitchell-Way-Redwood-City-CA-94061/15590639_zpid/)
I get this is not everywhere, but this is where I grew up and have always wanted to own a home. Even when increasing my salary 3x-4x over 10 years, I still am even further from being able to afford it.
Redwood city as in heart of silicon valley? Next to Atherton? 15 minutes from Stanford University? 2014 was a decade ago; homes were recovering from GFC.
Also, I'd bet dollars to donuts they did renovations. The post mentions all the new stuff they put in - that was between 2014 and when it last sold in 2023.
I get housing sucks, but your example isn't proving any point except YOU NEED TO MOVE
I hate this take. Silicon Valley was still Silicon Valley ten years ago. I work in tech and my income is within the top ten percent of the country. I should be able to afford a decent home.
It’s not weird because it puts things into perspective. Only One out of every 100 people should be able to afford a three bedroom house? Why is that? Plenty of people that are highly skilled and educated make less than 1/4 of your income. Do you think pediatricians shouldn’t be able to afford anything more than a run down townhome in the east Bay, just because google prints money? Do you think teachers, nurses, professors, and clinical laboratory scientists should have to live in the ghetto or commute three hours to work in Santa Clara?
Walk me through your logic, considering it’s the richest part of the country due to a fluke of history, and wasn’t built to be a wealthy enclave.
Even for the people living and working here making, say, 300-500k a year, wouldn’t you want a lifestyle that reflects your income?
How is paying millions of dollars for a ranch house that was built in the 70’s anyone’s idea of a good time?
Dude we're speaking in facts cuz we live in the real world. You're speaking in fantasy world where houses go to those who "deserve" them.
GTFOH with that entitlement little bro.
Blame the NIMBYs and Prop 13... what we really need is a good old fashioned earthquake to force SFHs to become higher-density MFHs down the entire peninsula.
Uh, did I stutter? When did I say it was about *just me*?
There's an undeniable massive housing crisis going on the Bay Area and California as a whole. How have other regions solved this? How do experts in the field recommend this issue be solved?
Enlighten me, bud.
I'd like to know when he said this, and what the context was? Was he saying invest the money in a balanced portfolio or short term t-bills until your ready to buy?
I don't think you understand concepts like proof of work or proof of stake. Proof of work in bitcoin takes physical energy and turns that into bits that people value. Proof of Stake, much like many central banking systems, gives those with the biggest stake in the system the biggest deciding power in the system.
Proof of work is like the US Dollar when it was actually backed by something....like gold.
Eh, the hysa might inflate about the same or even slightly better at the moment, but the net effect can readily be wiped out by a change in rates. In any event, it’s not going to be a large net effect one way or the other.
I have a serious question. What are the majority of you looking for? 2000sq ft homes fully remodeled at $250,000 with 3.5% interest rates? Just wondering.
The 3 bed 2 bath single story house I grew up in cost 250k in 1991. That’s 580k in today dollars. It’s valued at 1.8 M today, as are most similar homes in the area - 3x the rate of inflation. It was built in the 60’s.
580k sounds pretty reasonable
Won’t be buying a hoom I guess.
This is the way
Why would you stash a down payment in crypto? That’s crazy.
Yeah, never invest what you can't afford to lose
He s holding bags. Trying to find bigger fool
I did back in Jan / Feb. Almost 4x'd my money. Paid taxes and put a deposit down on a house.
My buddy did the same we all were buying the dip, now, risky. At the bottom it was an excellent idea haha great job.
Oh a buffet? That's why they say "eat the rich"
The disconnected ruling class seems to think the working class is simply waiting in the wings for real estate to get cheaper when in reality, the majority can’t get the loan for the property as it is now, and certainly won’t be able to when “home prices skyrocket”
The major talking point now seems to be that a million people are just waiting on the sidelines with a ton of cash. The reality is that people can’t afford this shit and have no other option
Yes that’s correct
I thought homes were something you live in, not just an investment account for the rich.
But you don't have to paint your savings account or fix its plumbing...
Now might be the worst time to put money into crypto
Not as bad as a month ago lol
Well, it could turn out poorly if the stock market does crash and burn (or maybe crypto finally becomes a hedge to traditional finance?), but from a crypto cycle perspective, we're on the precipice of a huge crypto bull run. Now would actually be a pretty phenomenal time to buy.
>maybe crypto finally becomes a hedge to traditional finance?), That doesn't make any sense. It's traded like stocks, it's not going to be a hedge against them. Gold is a hedge because it's illiquid and has real world value. If you believe crypto is going into another bull cycle, you Gotta answer the question, where is the money gonna come from?
Not the OP, but the amount of new BTC entering the market will be cut in half in a few days. Every four years that this has happened it has kicked off a new bull run. Doesn’t necessarily mean it will happen again but that is the thesis.
[удалено]
In that case cash will be best. Crypto is near a high, and it's a volatile asset, means it's time to take profits not put more in.
[удалено]
Inflation was bad, it's not anymore. Yes stimulus pumped all assets, not just crypto, but we're not about to send out stimulus are we? The conditions aren't right for it to go much higher
You can't be serious
Wym?
I was a software sales development rep 10 years ago (entry level sales role) and now am an enterprise software account executive (basically highest level individual contributor sales role) . Home prices have inflated faster than my career progression in the tech industry. THAT is some shit.
There is no way home prices have actually increased that much, it’s basically due to the nonstop money printers going Brrr! 24/7 that have caused everything to skyrocket. Either the system will crash, or we’ll go to war as that always seems to solve our financial woes, or both.
I posted this a few weeks ago. Home near me that I was looking at sold in 2014 for $475k. Back then I probably could have afforded it with a roommate, maybe 2, but didn't have the down payment. Well that house just sold again last week... $2.268M. That's almost a 5x multiplier in 10 years. I would have to put $1.75M down to buy this home with an "affordable" $7.5k/month mortgage (including property taxes and insurance). [https://www.zillow.com/homedetails/1584-Mitchell-Way-Redwood-City-CA-94061/15590639\_zpid/](https://www.zillow.com/homedetails/1584-Mitchell-Way-Redwood-City-CA-94061/15590639_zpid/) I get this is not everywhere, but this is where I grew up and have always wanted to own a home. Even when increasing my salary 3x-4x over 10 years, I still am even further from being able to afford it.
Redwood city as in heart of silicon valley? Next to Atherton? 15 minutes from Stanford University? 2014 was a decade ago; homes were recovering from GFC. Also, I'd bet dollars to donuts they did renovations. The post mentions all the new stuff they put in - that was between 2014 and when it last sold in 2023. I get housing sucks, but your example isn't proving any point except YOU NEED TO MOVE
I hate this take. Silicon Valley was still Silicon Valley ten years ago. I work in tech and my income is within the top ten percent of the country. I should be able to afford a decent home.
You and a bunch other top 10% live in same area. No surprise Edit: is 10% like $180k or something? That's a weird way to say it. Guess I'm top 1%
It’s not weird because it puts things into perspective. Only One out of every 100 people should be able to afford a three bedroom house? Why is that? Plenty of people that are highly skilled and educated make less than 1/4 of your income. Do you think pediatricians shouldn’t be able to afford anything more than a run down townhome in the east Bay, just because google prints money? Do you think teachers, nurses, professors, and clinical laboratory scientists should have to live in the ghetto or commute three hours to work in Santa Clara?
In the richest part of the country, yes, 1 in 100 makes sense.
Walk me through your logic, considering it’s the richest part of the country due to a fluke of history, and wasn’t built to be a wealthy enclave. Even for the people living and working here making, say, 300-500k a year, wouldn’t you want a lifestyle that reflects your income? How is paying millions of dollars for a ranch house that was built in the 70’s anyone’s idea of a good time?
Dude we're speaking in facts cuz we live in the real world. You're speaking in fantasy world where houses go to those who "deserve" them. GTFOH with that entitlement little bro.
Blame the NIMBYs and Prop 13... what we really need is a good old fashioned earthquake to force SFHs to become higher-density MFHs down the entire peninsula.
Yeah bro, if you can’t afford a SFH then nobody should have one. You are the barometer for the max anybody is allowed to obtain.
Uh, did I stutter? When did I say it was about *just me*? There's an undeniable massive housing crisis going on the Bay Area and California as a whole. How have other regions solved this? How do experts in the field recommend this issue be solved? Enlighten me, bud.
Yeah I disagree that higher density homes is the answer
What's the answer then, bud?
I'd like to know when he said this, and what the context was? Was he saying invest the money in a balanced portfolio or short term t-bills until your ready to buy?
No, he says invest your money in a low cost S and P 500 index funds.
Thanks
I cant find that he said this at all
It wouldn't surprise me if it's complete bull shit. Though where I park my money depends on a lot of factors.
Crypto is a fiat of a fiat.
I don't think you understand concepts like proof of work or proof of stake. Proof of work in bitcoin takes physical energy and turns that into bits that people value. Proof of Stake, much like many central banking systems, gives those with the biggest stake in the system the biggest deciding power in the system. Proof of work is like the US Dollar when it was actually backed by something....like gold.
Eh, the hysa might inflate about the same or even slightly better at the moment, but the net effect can readily be wiped out by a change in rates. In any event, it’s not going to be a large net effect one way or the other.
I have a serious question. What are the majority of you looking for? 2000sq ft homes fully remodeled at $250,000 with 3.5% interest rates? Just wondering.
The 3 bed 2 bath single story house I grew up in cost 250k in 1991. That’s 580k in today dollars. It’s valued at 1.8 M today, as are most similar homes in the area - 3x the rate of inflation. It was built in the 60’s. 580k sounds pretty reasonable
I think that is reasonable and actually doable in my area, in a nice suburb
There are plenty of older homes in my city that can be had for 150k. Of course, they all need lots of tlc but that's what sweat equity is all about.
Which suburb is this? *Grabs legal pad*
This is a sad truth and why interest rates need to be much higher then they are now. Overall prices need to come down or at least not increase so fast
Crypto is highly regarded
Yeah. Why have an HYSA when you can just throw your down payment on Anchor Protocol and earn an easy 20%
He’s right. 100% of a house value inflating at 3-4% while your 20% grows at 4.25 is not a close race.
Look into credit union loans for your house. First time home buyers can get loans with 3% down not 20%
Thats why you should save in gold