@Lostthoughts
6 Years1,000+ Posts
Inflaction in the housing market.
Over here in the a Gold Coast, the majority of properties doubled in value from around mid 2021.
Investors took advantage of the equity increase and cashed in.
This left renters having to look for new properties to rent once their lease ran out (fortunately some still have 12 months left on their lease) but the shortage of rental properties escalated the weekly rent prices. Some as much as $ 100pw in a lot of properties.
People are having to move further out of the city. They say what goes up must come down, not something that happens a lot in real estate. If it drops it will be nothing on the increase that happened.
But….The investors will come back, they’ll reinvest… it’s all apart of the cycle.
People who won’t be able to afford housing in big cities will move into less urban and make those grow and this isn’t a bad thing.
Here we probably going to have illegals parking all over old areas because a lot of them not used to build and working period so they will put money together and buy houses that can fit 20 people in 3 bedroom…THATS a disaster! Turning neighborhoods in shit!
But new Americans will build elsewhere. Country of this size luckily can take in and still taking some more…
It’s Europe that will suffer. And they had been for an over decade now.
What IS reset? I don’t remember it’s been anything or maybe I’ve missed it.
Neighbors bought 1000 sg.ft house for $ 400k
And it’s old and shabby.
Sellers want cash on top of selling price just because too many bidders and it’s awful.
We are living in times when all need reset is human minds. I don’t see that happening. Lethargic and apathetic people are taking over!
I just hope all the greedy bastards get their karma
Posted by MyStarsShineI just hope all the greedy bastards get their karma
What stars are saying?
Posted by borednbeautifulPosted by MyStarsShineI just hope all the greedy bastards get their karma
They will 💯
I am manifesting their downfall. Bastards on every level will get what they deserve and we will thrive 🙂
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Yes ma’am 👍
Posted by GemiMayPosted by MyStarsShineI just hope all the greedy bastards get their karma
What stars are saying?
click to expand
Will check !
Posted by MyStarsShineI just hope all the greedy bastards get their karma
Eventually they will but not like you think.
The poverty gap will become wider between the rich and the poor… it’s predicted
Posted by borednbeautifulPosted by sweetheartsPosted by MyStarsShineI just hope all the greedy bastards get their karma
Eventually they will but not like you think.
The poverty gap will become wider between the rich and the poor… it’s predicted
How long can this go on though? I guess we’ve already been there for centuries.
click to expand
No one knows the answer to that.. it’s something we will question until it’s here
Posted by GemiMayPosted by MyStarsShineI just hope all the greedy bastards get their karma
What stars are saying?
click to expand
I read that when Saturn crosses over Saturn could indicate a crash?
The next time for this (I think) is end of Feb 2023?
Prices went up here also. In the capital and on the coast. Especially because of the recent Ukrainian and Russian migrations. A lot of young Russians can be seen in my city, and the coast is filled with expensive cars with Ukrainian licence plates. In my zone apartments are about 2000/m2 and the minimum wage is 450 euros.
Posted by MyStarsShinePosted by GemiMayPosted by MyStarsShineI just hope all the greedy bastards get their karma
What stars are saying?
I read that when Saturn crosses over Saturn could indicate a crash?
The next time for this (I think) is end of Feb 2023?
click to expand
Too difficult for my brain. If we talked real estate market crash - that had happened before. I don’t know if that affected me. Nowadays - I still don’t know at which financial level people should be worry. But something tells me that in that level they don’t worry about shit!
Food water shelter, these things should not be profitized. It's one thing when you provide a service, you should br compensated in order for you to continue to do so. Money is a tool, a intermittent for trade.
When the value of money eclipses your other values.. When it becomes the sole driving force..
This trend...don't get me wrong I struggle with this too. Trying to find a balance between the necessity of money and things that need to come first. Too far either way causes a unhealthy imbalance in life.
Some things can't be simply bought.
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In a city of 200k in the valley in California. In the last couple years, rent has skyrocketed way past the medium income in the area.
There is no actual reason for it other then people prioritizing making MORE profit simply because someone down the road found people who were ok with it. Pricing out normal people.
What I mean by normal, a good chunk of the businesses in the area are service and retail. A bit over minimum wage. Don't blame the minimum wage rise either. Relistate, doesn't employ much of any man power especially rental management companies. There is a nasty domino effect lining up. All around the country.
We are due for another market correction, meaning crash.