Posted on 12/04/2023 6:03:31 PM PST by davikkm
Axios reports that new homeowners may not turn a profit for over a decade, creating a dire situation. Trapped in a cycle of debt and depreciation, they face a challenging housing market. Advocates urge government intervention to regulate and make housing more affordable and sustainable.
Furthermore, concerns arise about a potential lost decade in the stock market, reminiscent of the 00’s or 70’s, triggered by rising rates. Investors are cautioned as the ‘Magnificent Seven’ stocks start resembling the ‘Nifty 50’ of the 1970s, signaling potential risks.
(Excerpt) Read more at citizenwatchreport.com ...
Most people buy homes to live in, not for profit.
Well, they always do. Doesn't matter the topic.
“”Axios reports that new homeowners may not turn a profit for over a decade, creating a dire situation.””
They have a home to live in?
They need to shut up as they are pizzing off the what, two thirds of the US population that can no longer afford any home.
They are not really interested in hearing bellyaching about how someone not being able to turn 100,000.00 profit for esently no work from a house that half the population can’t afford the downpayment.
.
>> Advocates urge government intervention to regulate and make housing more affordable and sustainable.
AW HAIL NO!!! Government OUT of our lives, not further into them!
No,they buy for *two* reasons:
1) For a place to live.
2) As an important part of their net worth...their “nest egg”.
Maybe this will finally change how new homes are built. In housing bubbles, homes are built cheap and quick, and you end up with biodegradable cracker boxes. However, if you want a home as a family asset that will last for at least two or three generations, it has to be both well built and easy to maintain.
This means its initial cost is higher, with things like a well built foundation, a steel instead of wood frame, plenty of design features to fend off the elements and keep costs down, and conduits for wiring and plumbing.
A lot of thought needs to go into such a home. But the end result is creating a family nucleus.
FJB and his merry band of queer flying monkeys...
Oh, that goes for obamie too.....that shite stain is the one really running the show.
It used to be some people did quite well purchasing homes for investment, either by flipping them or by renting out the properties. Given today’s world, I’m not sure I would ever want to be a landlord.
When I moved to NH in 1985 one of the older guys I worked with still owned a house in Houston.
Even though he was now living in Nashua.
The problem was he had bought the house in TX at the top of the real estate boom.
When oil went to crap, so did the Houston real estate market.
I built a house in 1990.
I sold it in 1995 for $15K less than I paid for it five years earlier.
Real estate is cyclical.
“Advocates urge government intervention”
to do what? guarantee that new homeowners turn a profit in under ten years?
You could see this coming for years.
Buy a house in a hot market when prices are up and that is a risk you take and you should know it.
Government intervention will only make things worse, as it ALWAYS does.
I see entire housing developments spring up around me every few weeks. And I get calls several times a week from people wanting to buy my house.
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