Why Houses Are So Expensive In The U.S.

[@felixf4378]

Biggest mistake I ever made was moving out of my parents at 20 years old. I'm 24 years old now and wasted almost $60,000 on rent went I could have saved that and bought a home. I fell for the whole "you need to move out to be an adult" scam.

[@Rokiotop900]

In latin america we dont understand that culture. Adults sons could live with their parents forever and we dont see it bad.

[@arlmont123]

Life is so unfair when you are could have lived with your parents, and if you did, by age 24 now, you'd have your own home by now. OMG, what a phucking unfair world, not to be able go immediately from your parents home to a home of your own by age 24. Life in the US sucks, and is so very very hard for a 24 year older these days now. I just had no idea how hard it is now for 20 somethings living in the US these days. I hope things pick up for them. It sounds like its been a very hard and unfair life so far for so many of them reading this on this Memorial Day weekend..

[@arlmont123]

@@jkeelsnc Homeowner rates of the adult population in the US 1965 : 62.3%. 2020: 62.9% ( Source; US Dept. of Housing, Wash, D.C. ). The difference ? Not much.. other than the fact that college costs as a percentage of household income has soared through the... pardon the pun.... roof since 1965. Very few students in the 50's/ 60's/ 70's left college with such choking college debt as that of recent years. No conversation about the young's complaint about the high cost of housing can be had without the verbal acknowledgement that many current colleges and universities price gouge parents/ students. Hell, these schools even drive up the costs of rents and homeowner prices in the communities they are in.

[@arlmont123]

@@jkeelsnc No. You dont have a clue about me... nor what pictures I have up on my wall. I dont vote, nor listen to talk radio. Both are a waste of my time, as I would not trust most politicians in either party as far as I could throw them. You dont sound all that bright , nor insightful to me after reading your replies. Oh well, in any event good luck to you..

[@mht2166]

American parents are programmed to kick you out and not work with you on building a nest egg.

[@abhisheksathe123]

For that price atleast give them a solid house made out of concrete or bricks, not some saw dust panels glued together.

[@mohdateeb7257]

Lol just like a kid's idea to make a house😂😂

[@SoleilBlanc11]

Thats why they get easily blown away by tornadoes

[@tubby6007]

Agreed

[@sharoncrawford7192]

We built our home. Its all brick with stone on front entry way. My husband layer it all. Layer all the tile and stone work inside and out. Built the fireplace. Custom and quality. For 25 yrs he worked on mansions in Naples, Florida. He's done this his whole life. Totally professional. We moved back to the Midwest and built our current home. We love it. Plus, it's paid for.

[@danieljones1784]

I just built my house out of habel bricks and concrete with rebar. My house is gonna be here long after I'm gone damn it. None of that wood and sheetrock and Vinyl siding.

[@aaronjones1131]

Literally thought COVID would crash the market and I’d finally be able to afford a home......jokes on me I guess

[@jhtrico1850]

Nah, it’s going up, just like everything globally.

[@vitsadelhole]

how would covid even cause the housing market to collapse

[@vitsadelhole]

@Saksham Shukla oh yeah and whys that you must have some factually based logic here other than its expensive therefore a bubble

[@bchin324]

@Saksham Shukla not as long since there's a constant limited supply of homes.

[@ATD909]

When the eviction moratorium ends…that’s the time to to buy a house!

[@Yotta_Guns]

They missed the part of the issue where companies and extremely wealthy individuals are holding a huge chunk of affordable housing hostage.

[@tind4034]

Shhhh, this is corporate media. Berkshire Hathaway, Blackrock, and other PE makeup 15% of the housing market.

[@nottiification]

When a person (or corporation) buys a 2nd home, it should be taxed at 200% 3rd home should be taxed at 300% 4th at 400% etc.

[@dirtbeard108]

@@nottiification so tax is a punishment and not a means to generate funds for the government? neither one will help YOU.

[@praisethesun7255]

@@dirtbeard108 yes that is the point of tax, its a tool to regulate the economy

[@tghooker5123]

Rent and sale prices would probably increase.

[@ThatOneGuyWhoPwns]

It’s like joining a game of Monopoly after everyone’s been playing for 30 years.

[@jamese5936]

To complete the analogy. The same late comers will still praise & worship the people that have rigged the game as if they are extra-hard workers and more intelligent than the rest of us.

[@Jesus-xm5gv]

Overpopulation due to selfish breeding is the root-cause of the worlds worst problems. Breeders don't give a crap that their selfish spawning causes less resources for the masses and so higher costs for the masses which caused Millions to become homeless. Basic Economics. Breeders either are not smart enough to grasp the real concept of Supply vs Demand or they don't give a crap about anybody except themselves.

[@iraqstangoog1223]

@@Jesus-xm5gv mate there’s enough room for every single person on this earth to live self in Texas. There is more than enough resources on this Earth to support every single one of us and billions of more. The overpopulation myth is one that is peddled by billionaires and elites, the very ones responsible for the housing problem and nearly every other problem.

[@Jesus-xm5gv]

NO biological parent cares what happens to their kids or grandkids. No one wants to die. That is one of the main reasons why breeding children is evil. At the age of ~ 3 years old we learn we will someday die. Selfish breeding is the root-cause death. Breeders create suffering and death..another person that has to get old, suffer and die. Breeding more children that never asked to born knowing they will suffer in old age and die while there are Millions of orphans waiting to be adopted is The Epitome of Selfishness.

[@gothops154]

The only people who can afford to buy houses/outbid the rest are the rich who don’t even live in the houses but just rent them out. All they do is take out a mortgage and just charge rent to be a few hundred more than their monthly payments. So normal people can’t afford to buy nor rent and the rich just get richer

[@Rimeau]

Expensive, but built like a garden shed

[@sandysimpson4785]

I know right!! It couldn't withstand the wind speed from one of my farts! Let alone anything else!😒😒😒

[@ronwatson6637]

American built houses and cars are terrible. I guess we make good jeans with Levi’s lol trash too.

[@CoronaTheVirus]

True

[@mundie33]

Ron Watson Levi’s are definitely trash

[@khmerfeature8423]

Yes I think so

[@xv9021]

I like how corporate america getting into the housing game is completely glossed over. They are buying up every home on the market handing out cashier's checks

[@plusorminusandtime]

Thank you. I read an article about this very thing in December/2020 in the Wall Street journal.

[@gordongekko2781]

...enabled by the Federal Reserve!

[@tashana775]

Thank you...this video is hardly telling the actual truth of why the housing market is the way it is.

[@boulderbash19700209]

And?

[@tio4561]

@@boulderbash19700209 the problem is they trying to get ppl to rent because the elite want us to own nothing and be happy ...

[@sew_gal7340]

Ironically the shortage of homes on the market is due to nobody wanting to sell their homes to buy new ones because the home prices are too expensive.

[@mocheen4837]

I would like to sell my home in San Francisco and move to Sacramento. I would be able to upgrade from a 2,400 sq ft home to a 4,000 sq ft home with a pool. I could pay the house off in full and still have $500,000 left to put in the bank. Now that I am able to work from home full time it is very appealing. My wife could retire early.

[@thejubieexperience]

It's all connected. I bought my starter home several years ago and have a roughly $90k mortgage left. If I sold it, I could probably net $200k profit. Not bad, right? But any house I want to buy to upgrade my living situation is over $500k, probably $550k. I can't afford the $300k+ mortgage that would require, so I stay put and hope I either find a better job or properties become more affordable. That means one less home at the bottom of the market for people starting out and putting upward pressure on homes just a bit better than mine.

[@michaelmullin3585]

Also, not willing to sell because NoBiden did, and is, destroying the economy. Caution rules if you already own a house.

[@mpalmer7800]

Thank you

[@DECIFERTHIS09]

Normal people sell, the investors buy 100 houses to rent them out to people like us.

[@keybraker]

The joke is that the houses are actually pretty poor quality-wise.

[@eharvey]

Right, nothing is made to last anymore.

[@keybraker]

@@eharvey I mean USA houses are notorious for bad quality

[@jeeess9979]

Usually because the materials are from China lmao

[@eharvey]

@@jeeess9979 Agreed lol

[@patricec.2957]

Its build in American style, what are you waiting for? it just has to be huge and look luxurious, the rest doesn't matter

[@zivkodespotoski7535]

I once asked a retailer why are prices so high. He told me why not. If people are willing to pay these prices, why not.

[@kenmore01]

That's right though. Why not?

[@AK-rx6hv]

Like everything else basically.

[@jidowu6019]

Basic concept of supply and demand. . . that's how it works. The cost of goods and services is not arbitrary. It is scientific. . . The market (consumers and target market) determine what they will pay for a good or service.

[@dimmmmmmmm]

It's also location - a medium-sized home in the most desirable part of Brooklyn, NY could be north of $2mln, the exact same house in Gary, Indiana will be $50k (a great example of this is Brush Park in Detroit: the run down mansions there were around $60K 10 years ago, now a bit more due to revitalization)

[@esmooth919]

But i'm not. In fact, i _can't!_

[@dr.aviator]

They get you with the term “homeowner”. Miss a few payments and see how much of that home is actually yours.

[@annowens5019]

Even HOA are seizing home for missed HOA Payments.

[@joeycusack626]

@@annowens5019 Yeah HOA fees are outrageous, often surpassing property taxes.

[@admirialh]

This is true. I tell people all the time. You own your home! Lol

[@Friends46488]

🤣🤣🤣

[@adamasimolowo8285]

lol

[@dirtydan1652]

They’re expensive because it’s profitable, for companies to own real estate 🏡. They can throw an extra $50,000 on top of asking price. They can drive up rent, and home prices. Meanwhile, average Americans just want a place to rest from working 80+ hrs a week.

[@jerardoreyes6343]

Don't forget for about 30% of home construction budget goes to government one way or the other.

[@christopherdecarlucci2985]

I felt that hard

[@stevenodland]

Inflation is what keeps you working for 80+ hours. Inflation is caused by government laws (at least in the USA it is)

[@thepowerofthegodhand7003]

This why the US is trash

[@mirekchance]

Well its some of that and the fact that housing is one of the last surviving industries here. And so many want to make money here flipping houses etc, even as a second income... There is a middle class formed from some uni grads and government employees mostly and they need a place to live...

[@Randomcharacters_]

Is the US running out of houses, the answer is no. The issue is we have to many investors buying multiple houses which in turns makes individuals looking to buy a home harder.

[@Aerrow62]

Nailed it. Increase the mortgage interest rates and cap rents. See what happens to the housing market.

[@sunshineimperials1600]

You can thank quarantine for that. Millionaires began to make KZbin channels and told their stories and Middle Class people were inspired to go into investment.

[@doujinflip]

There really should be a rising tax penalty for owning but not themselves regularly living in multiple land plots, especially in places that are statistically in demand from buyers who own at most one house (which most times they'd be selling off).

[@suvari225]

First time home buyers should have some advantages over those b.stards who buy homes for making millions.

[@TheSterlingArcher16]

That’s not true, investors themselves don’t make homes go up in value. Speculative investors are just trying to cash in on a rising market. The only thing investors may do is accelerate a bubble. Ultimately we need more housing & for the pandemic legislation to end.

[@hujanair2]

30 years ago i could afford my parent's house in cash. In today's money, that amount couldnt even buy you a car.

[@jamescrud]

I know what you mean. I bought my current home 25 years ago for $64K (was a fixer upper). I was 26 at the time. I put down $30K and paid the rest off in 2 years. We'll never see times like that again. I feel bad for the young people these days.

[@peachulemon]

@@jamescrud house in Canada even a fixer upper can be over 750k😭

[@MyLittleGreenHairdedMermaid]

@@jamescrud BuT yOuNgEr people are just lazy and dont want to put in the work to buy their own home..... i hate when people out there say this especially with your given example. Housing used to actually be affordable. How a days its at least quadruple that, and then renting is also WAY more expensive. How are you supposed to save up for a down payment in some places when rent is $1000+ per month

[@Guzz843]

@@peachulemon Not in Calgary. You could get a small mansion for that price.

[@boxtrowicomic4291]

@@MyLittleGreenHairdedMermaid yeah its crazy, I live in a small town where the usual monthly pay is 1300$ full time and the rent without electricity water and internet is roughly 1500$/month

[@craigt5355]

This is a problem everywhere, hello for New Zealand. My house's value has doubled in 5 years(not a good thing for society). If i had to buy it now i couldn't afford it.

[@weareorigin]

Did your property taxes doubled?

[@redwhite_040]

Same story in Europe (Netherlands). Unable to buy something for starters. Sad but true. The future of housing is dark for young generations.

[@jackstapleton7337]

Wasn't a problem with the previous administration... things literally changed 4 months ago when Biden took office

[@nstl440]

@@jackstapleton7337 its all over the world now. Biden has nothing to do with it.

[@jackstapleton7337]

@@nstl440 Incorrect, it spiked 4 months ago when he took office. Cost of living has been up around the world for the past year. These are facts and will only get worse with his capital gain tax increase proposal among other things. Gas has doubled around the entire country motivated by this administrations own self-interest overseas. Nothing to do with the pandemic.

[@andstewart9982]

How rich can you be to buy an apartment like that, one year savings won't get me that.

[@clintonj.johnson9879]

Lol, with your monthly salary you can't archive something like that.

[@clintonj.johnson9879]

Being an investor is a brilliant way to increase your income, I'm into real estate and Crypto.

[@marcofox4249]

I am actually looking for a good trader to help me with my investment, any ideas?

[@clintonj.johnson9879]

@@marcofox4249 I am trading with Mr Carvalho, he is among the best traders from the UK.

[@clintonj.johnson9879]

@Goodson Thomas Nura Carvalho.

[@__aceofspades]

"Buy a fixer-upper" HAVE YOU SEEN THE PRICES ON LUMBER AND OTHER BUILDING MATERIALS?

[@paulmezhir8354]

And of course, all those new home builders are going to just absorb the cost increases to make their product more affordable compared to those "little people" who buy homes that need work. Your statement makes ABSOLUTELY NO SENSE. Moral of the story? If you can't afford it now, you shouldn't be buying now. Markets that crashed in 08 and 09 will be the same ones that crash the next time. The safer markets that did not suffer the drastic losses will maintain their value...you know, places like boring cities such as Buffalo, Boston, Pittsburgh, Wadhington, Baltimore, Kansas City, Milwaukee, Minneapolis..... Sure, Miami, Atlanta, Phoenix, Austin, Los Angles, Seattle, Portland and Las Vegas have that brash "cool factor," but, like we humans, "cool" gets old fast when reality sets in.

[@LucasFernandez-fk8se]

@Albert Felsen no they didn’t idiot. It’s good advice if you can’t afford a fully renovated home. Frankly the boomers had to work hard for those homes, they had to work a lot less hard then people today to afford the same mcmansion but they still had to do hard work. Discrediting that they worked similarly hard and were able to afford more due to the increased construction and lack of NIMBYS isn’t really helping or a fair thing. Crap on the boomer all you want for real things but they did work for those homes

[@boratb258]

@@LucasFernandez-fk8se Boomers wage to cost of living was much better then it is today, company's would go to boomer highschool's offering employment packages and good wages to try and find employees. Today your lucky enough to get a job at wallmart making minimum wage out of highschool. Boomer era was a employees market, today company's just issue work Visas instead of giving raises.

[@sundinfamforlife4129]

My home needed some cosmetic issues(blinds were a little funky/ new flooring would be nice/ repainted some rooms) But I wouldn't buy a home that needed more work put into it than I what I bought it for.

[@willmartin6283]

Why buy in 2021 and lose 20% value in a year. Europe has been dumping LUMBER on the COAST OF FLORIDA. Some Builders are making retirement money. If there was a shortage of lumber you would not see pile of lumber from Coast to Coast. 2021 HOME BUYER ARE screwed because their insurance and taxes will be at the inflated price. Their houses will lose about 20percent in value in one YEAR.

[@coreyadams1982]

I remember when Covid started I was thinking, "Yeah, I'm going to get me a good deal on a house now."

[@discover854]

Actually it was a good time to buy at that time since a lot of them were ABNB people forced to put the house on sale since they cant afford the mortgage payment anymore due to covid. I remembered searching for home around March and April, some of the listing were 200k off the high.. Problem now is, young people in the US arent competing with other Americans but Indians and Chinese. All of whom will pay in cash and above asking. These people pretty much sold all their assets in their home country to get property in the US. At this point, these people already lost 50% of their wealth just getting the money here. Buying property above asking means nothing if their wealth will forever be protected.

[@hydroaegis6658]

Not until they printed all those trillions of dollars

[@discover854]

@@hydroaegis6658 You have no idea how wealthy the US is compared to the rest of the world. The government has printed 48% of all money in the last 2 years and yet interest rate havent increase much. Consumer products on the other hand have double or triple these past year partly due to covid as well as more money supply in circulation. The more debt the US continue to pour into the market the more foreign institutions and governments are willing to buy them at little to no gain because the US is the only safe market in the near future. Why do you think Rich Chinese and Indian are so desperate to get their wealth into the US at any cost even if they lose 50% of their wealth doing so. The US is the only country that will weather the coming storm better than anyone else.

[@silvertime7188]

I did

[@RoseUnseen]

same i thought alot of old home owner would get it , than again hence why America quarantined

[@Idkjustateststtt]

Explains why I can’t find a home to buy. They are over charging on everything.

[@rastock9894]

Wait for the crash. You’ll get a nice house for dirt cheap.

[@Legendary_UA]

@@rastock9894 Crash? There is no crash coming. Jokes on you.

[@ShaneyElderberry]

@@Legendary_UA we’ve had our 1920 pandemic. Now we’re waiting for a 1929 crash.

[@KevinP32270]

new houses being built all over the place for very affordable prices in sunnyside subdivision near the medical center in houston texas.

[@MaximillianTiberius]

Houses are being bought off by hedge funds and wall street, part of the Big Reset scheme where they will eliminate low medium income class from having a home.

[@TheiiWiiShow_]

The fact we have accepted the 30 year loan as a standard for owning a home is scary. Just look at the median home prices in CA and median income. It is just not sustainable.

[@MrBibi86]

they call it a Mortgage for a reason! because you are paying to off until you are in a morgue!

[@elisabethholmes604]

if you think the US is expensive, you may want to stay away from Asia. lol They earn like 20k a year, and their houses are more expensive than US.

[@jidowu6019]

You're mortgaging an appreciating asset. It's not scary.

[@jidowu6019]

@@MrBibi86 false

[@Gator777]

I anticipate them changing from 30 year to 40 year mortgage. The new thing they will do.

[@izagdlife]

Inflation plays a major role why houses are so expensive, Most times it amazes me greatly how I moved from an average lifestyle to earning over $63k per month, Utter shock is the word. I have understood a lot in the past few years that there are lots of opportunities in the financial market. The only thing is to know where to invest…

[@maryelvis3172]

I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks.

[@izagdlife]

@Jessica That won't bother you if you trade with a professional like *Mr Gary Mason Brooks* my consultant. I found him on a CNBC interview where he was featured and reached out to him afterwards. He has since provide entry and exit points on the securities I focus on. I basically follow his trade pattern and haven’t regretted doing so.

[@susanhaynes679]

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[@zombie15ish]

@@susanhaynes679 This is the Fourth time I'm seeing someone talking about Mr Gary as there are lot of testimonies about him, do you know him ? if yes , did you invest with him…?

[@susanhaynes679]

@@zombie15ish Yes i do, I've known him for couple of years, I'm still using his services, His management team is quite impressive so far. With my $5,000 deposit, I made over $288,000 profit with just 10% charge.

[@giovanny25]

I think part of the issue is the problem with rising rent cost, if I could have a fixed rent for at least 5 years I wouldn’t look to buy a house

[@royharper2003]

that is why it is better to buy.

[@GRNBaseball10]

This video tried ridiculously hard to tip toe around the fact that the Federal Reserve has lowered Interest Rates to 0, is currently purchasing 80 billion dollars in Treasuries, and another 40 billion in mortgage backed securities. They also failed to mention the eviction moratorium and money printing (look at M2) boosting the inflation rate.

[@AustinWirl]

this is the correct answer, 0% interest means its as cheap as ever for investment firms to buy these houses. fed needs to knock it off with this free money and raise rates already

[@ddstar]

You expect a bunch of dumb people to know about this stuff?

[@GhostofTradition]

exactly inflation is here

[@gordongekko2781]

@@GhostofTradition Inflation has been here for the past decade, but it has been hidden in plain sight in investable asset markets which is ignored by the general public (and CPI statistics).

[@mikeymike1994]

Nothing to see here. Move along, citizen.

[@JULYXXIV]

We don’t have enough people, yet we have a “housing shortage”. Maybe we should think about NOT allowing companies - ESPECIALLY FOREIGN COMPANIES - to purchase homes to use as investment properties.

[@lozoft9]

The real problem is companies right here at home. Laws against foreign buyers are ineffective b/c they make up only a small portion of speculators.

[@mr.a.]

Yes it's only a small amount of homes purchased by foreign money. In Palm Beach we have $60M homes up and down. They are empty and owned by foreigners. This will only affect the top 1% they will be the ones paying more.

[@samuelg3586]

I work in the HVAC trade and the only recent new homeowners I see are all foreign nationals......

[@ajb7530]

Very truth or limit them from how many they can purchase.

[@millennialsecularandauthri3338]

Too many boomers are not dying.

[@WalksWallStreet]

The problem is the FED. They are still buying $40 Billion MBS plus $80 Billion Treasury notes and bonds every month. Printing money benefits the rich not the poor. The stimulus checks are not helping poor people as they do not own the assets that are being inflated.

[@davidlyday7373]

I am genuinely curious about your perspective? I personally support the checks going to people however a majority of the stimulus package from both this and the last administration are funneled writings of big business interests

[@nlsantiesteban]

In less than 2 years, my home has appreciated in value by $135k. Insane and troubling.

[@vincentrenz58]

Ya can be a good and bad thing depending on the state you live in if the property tax shoots through the roof

[@ersandy4u]

My house in Canada did 125k in 6 months. Can you imagine!

[@nlsantiesteban]

@Wordlife Wordlife The thing is, it wasn't an appraisal. It was a property tax assessment that readjusted what i owed. I suspect the home is worth more given what people are paying for neighbors' homes.

[@halfvolley11]

You should be celebrating not complaining.

[@GDL364]

@@halfvolley11 if he doesn’t plan on selling he is just empathizing with potential home buyers.

[@ramade9040]

"Why houses are so expensive in US" Hong Kong: hold my $300k parking lot

[@abusharmoota202]

The difference is HK is a city, and the US housing market is vastly larger

[@amylin8453]

@@abusharmoota202 That's like comparing NYC real estate prices to the average in Mainland China.

[@peaceoutjesus]

@@abusharmoota202 Australia here for a 3 bedroom house in Sydney is about $800k+ and thats not in the city

[@Rio-fo9kp]

🤣🤣🤣🤣

[@KILLERONROAD]

300k honestly sounds very low for Hong Kong...

[@samshurp4518]

When u have companies buying houses so that they can rent the houses to single families..... I cannot compete with a company 😱😱😱

[@yurichtube1162]

@@jkeelsnc this is greed, not capitalism.

[@yurichtube1162]

@@jkeelsnc there needs to be laws in place to prevent this blatant abuse. Everyone who works hard deserves an affordable house. Even the smallest, shittiest houses cost a fortune now. This is an injustice!

[@vulcanraven9701]

@@jkeelsnc capitalism is greed lol

[@abdirahmanidris290]

@@jkeelsnc Its late stage capitalism.

[@RizztrainingOrder]

“Get out of renting or your moms basement and get a home! What’s the problem?! You can’t compete with a national financial institution with an infinite money supply? Pull yourself up by the bootstraps!” Baby boomers

[@spacetoast7783]

Renting is better if you're not staying in the same spot for a very long time.

[@WitchyWhale]

Not everyone wants to own a house.

[@MrJamesLuz]

Don’t forget builders have zero incentive to make modest houses. Everything is “premium” for maximum profit.

[@spacetoast7783]

@@MrJamesLuz because consumers who can afford that land also demand premium amenities.

[@googlearepedos5608]

@@brokeduece1691 boomers are perhaps the most unaware and brainwashed group of people on this planet after antifa/blm communist goons.

[@thanhbinh24]

its even crazier here in Vietnam, especially in big cities where its almost impossible for a working-class person to get an apartment, let alone a real house lol

[@terryarmbruster7986]

Time to go back to village hut life eh? Bwahaha

[@njekshun]

Ill trade u my house in america for one in vietnam

[@Justin-ml8id]

I hear you, the thing with Vietnam is that it is a developing country so the the regular “working class” jobs don’t normally have good pay while most people are clustered in HN and HCMC. But if you’re smart with your money, able to have multiple incomes etc, trust me, housing in Vietnam is alright. Ain’t no way it is comparable to North America. Vietnam is in good shape

[@Justin-ml8id]

Vietnamese also don’t have much expenses and taxes on them

[@weareorigin]

A house in downtown Saigon is $1-3 million US dollars. But same size house 45 minutes away is $200,000.

[@rmfinance1781]

I think I'm just going to buy some land and then purchase one of those mobile home offices and call it a day.

[@robinlillian9471]

Make sure the zoning allows you to have a mobile home where you buy. Also make sure you have water &legal access to the property. Don't forget to do a title search, so you don't buy from someone who doesn't really own the land. You may need a generator or solar for electricity if there is no grid access.

[@crazytech5755]

@@robinlillian9471 Great advice. And no one should feel intimidated my these things. You hire someone who can make the whole process simple and easy. Get a land lawyer they will deal with all the paper work, all the rules and research and get it all sorted out for you. Then you just pay for it. Septic tank, get a power line ran to your house. It'll cost thousands but be worth it. Uncle did it, not that big a deal just gotta hire the right lawyer to take care of all of it. Bought a piece of land for 8k, had a smalll tiny rancher home built for 35k,hired some mexicans to do it for him. and about 22k in fees for power, septic, internet ect. Not a big deal.

[@huemann7637]

@@crazytech5755 how long ago was that? It costs $20-$40k just to drill a well here in central Texas.

[@crazytech5755]

@@huemann7637 He didn't drill a well, and this was 6 years ago. He has three MASSSSSSSSIVE water containers that capture rain. They are so big it's insane. You could go swimming in each one lol. Those cost about 680$ each. Then you can do the simple plumbing yourself from watching a youtube vid or two. He got a nice air compressor, like a big time one made for buildings. It'll turn on and maintain pressure in the system. pretty cool actually. And a simple filtering system for the rain water (you can already drink it perfectly fine, but it taste better filtered)

[@joeking433]

Yeah, I would put my money into land.

[@intricatic]

Because there are so many billionaires and corporations buying up property to drive up the prices. There, I solved your question in one sentence.

[@genotronex8663]

The better title: why houses in US are becoming so expensive

[@davidmartineztorres8731]

@@SD352-68 true, one of the reasons why I would like to live in the usa is because of the houses. So big and affordable. You don't see that in the netherlands

[@TheAvsouto]

Not everyone has half a million dollars hanging around

[@mariepascale6921]

La vraie question serait plutôt : "Pourquoi les américains sont-ils prêts à dépenser autant d'argent pour ces espèces de baraques en bois moches et alignées en rang d'oignons ?" (je ne l'écris pas en anglais parce que c'est méchant 😏)

[@alonso5703]

@@TheAvsouto And even less people pay for houses in pure cash lmao

[@DeathlyCookie]

@@davidmartineztorres8731 Haha, same thoughts. Greetings from germany :D

[@YumboYack2521]

Other states: Californians coming here and bidding up our housing market! Californians in 2013: people coming here from other states and bidding up our housing market!

[@Striker50_]

Such an accurate comment. Millions were never from California to begin with.

[@glimmeringsea5105]

Very true!!!!!!!

[@jake4024]

Then why is the market in California rising to sky high if so many are leaving. Median house in CA crossed 800k

[@cable30]

So much can guess cause the value of space or house that is there. homes get updated so add value to a place anytime. location and whatever else. so alot factors why homes cost so much anywhere.

[@TrollPriestZandum]

@@Striker50_ yep. Only way to save up for a California house is to do it in another state.

[@susancorgi]

Everything is upsidedown in this crazy world.

[@Tkdanso]

Specially in America 🇺🇸

[@222-i6o]

Hyper normalization

[@imaginarydreamz7794]

Yes everything is too high now. The stock market, real estate, and even with the "crash" in cryto Bitcoin is still up over 15 million percent. America is in debt 30 trillion and 80 percent of families live paycheck to paycheck. The only thing you can do is live below your means, even if that is your parents basement until you save enough cash.

[@edmonddantes3585]

@@ASS_ault and wages in this country are lowest which is why nobody here can afford them. Cheapest place to rent is too expensive, and you have to make 3x that to even get the place, when its hard to make just enough to afford it. Homelessness is on the rise in america.

[@Iceify_]

"Let's continue to build town homes and apartments that looks like a rectangle with a triangle roof"

[@Ladyrolanda]

And too small

[@lease4keepsdotcom719]

Lol

[@akhilp3559]

Big investment firms swooping in on any single fam house for the last 10 years and renting them out isn't helping either

[@vylbird8014]

Rent or leasehold. Why sell a house once when you can sell it over and over? It's one of the few cases of companies planning for things that last longer than their CEO's career plan.

[@emmanuelporte4201]

That is actually the bigger problem. We have houses out there, but not people living in them because they are being rented. There are plenty of available housing for millions of Americans out there, but we have such a small group of people buying places they aren't living in too created demand and profit. This story is skewed to make it seem like people are not trying when it's mostly manipulated by people with higher disposable incomes hoarding supply.

[@zachvanwolf2123]

Then pick one of the big investment firms and buy a few f their stocks, if they're doing so well! What is the problem?

[@nickkellie]

There’s no way I can qualify to buy a home. Unless I win the lottery and can pay for it in cash

[@tawannasteele4534]

Yea...wishful thinking 💭.

[@WoodT92]

Why not? Are you able to put 3.5% down on a home?

[@amapnamedpam]

@@WoodT92 no one wants to pay PMI with a lower down payment, sure you can do it but itll cost you more

[@WoodT92]

@@amapnamedpam yeah but why wait until you save 20% when you have 3.5% ready to buy a spot. PMI sucks big time but you can get rid of it once you reach 20% in equity. Saving 20% just takes too long so for me I’ll deal with the PMI to get the house I want

[@jejo9863]

I put 3% down

[@driftlesshermit]

All most people need is room for a bed,small bathroom and kitchen. Maybe rezone for small homes. Why people think they need mansions and have to fill them up with junk they don't need and pay for it the rest of their lives is insane.

[@goldienakamoto7894]

idk bro i have a farm on 20 acres 5 small bdrs paid 180k 2018 now worth 260k kinda nice having pond and private land to just chill on yourown with fam id suggest investing in raw land possible getting a home built on it in the future ...but to each his own

[@Kevin-eq9qo]

The homebuilders are the ones deciding people need mansions. That's where the profit is.

[@georgebalan6201]

Nobody wants those though. Who wants a small bathroom and kitchen, and who just wants a small bedroom. You want bedrooms for guests, a chefs kitchen so that you can experiment, and multiple bathrooms just in case you need them. Rezoning should continue to be for mansions unless it’s in a low income area.

[@driftlesshermit]

@@georgebalan6201 If infinite growth on a finite planet was possible, we'd all be living in mansions, driving monster trucks and pumping out babies. Why do people feel they are entitled to consume as much as they please?

[@georgebalan6201]

@@driftlesshermit Nope we wouldn’t. Gas workers and others wouldn’t be living in mansions, they’d be living the same way. People aren’t entitled, they work to get a certain amount of money and with that money should be able to do whatever they do please.

[@theone8254]

Thank goodness I bought homes during the Recession. $60K for a 4 bedroom two car garage two story home. Banks were giving foreclosure homes away.

[@hey_neighbor]

Millennials: Everything is a disaster and were used to it. Just sipping on this margarita while everything burns around me.

[@jake4024]

Lmao iknr, don’t worry were gonna fix this whole mess after the boomers, and make life easier for people ✊

[@94fleetwood94]

@@jake4024 Sounds like handouts when u say "for people." Not sure what you're referring to. Yes, I'm a millennial myself.

[@Ryan2022]

@@jake4024 No you’re not and you don’t even know what a boomer is

[@jake4024]

@@94fleetwood94 higher wages, restructuring of our education system so people are not left with useless degrees and debt. A strong social welfare system to catch people when they are down on their luck so they don’t end up being homeless. Reforming the immigration system so we only accept productive people that are helpful to society and not just leech off the system. There’s so much to be done the country is a mess right now.

[@jake4024]

@@Ryan2022 Baby boomers born between 1946 and 1964. They experienced the best of America before it fell into the hands of greedy lobbyists. 1960s was the sweet spot of capitalism. Why do you think the term MAGA was so popular with them.

[@MashZ]

Made with cheap low quality materials, still the most expensive houses

[@lukario2393]

Yaa I always wondered this here in Europe and Asia all of our houses are made up of solid concrete does look and last for a long time no leakage no disturbing your neighbor there's no problem and when I visited america all of your houses are made up of wood like a stupid weak tree house how do you guys even pay that much for just wood??

[@unquietgrave4444]

And wages haven't gone up in the same fashion. At this point I'll just make my money and retire to somewhere like South Africa.

[@angelgjr1999]

America is a dead country.

[@ag6477]

America is full of board houses. I don’t know how people can comfortably live in a board house, much less spend so much money to acquire them.

[@seanthe100]

@@lukario2393 wood is the most durable resource there's trees that naturally live for 1000s of years. Wood is also a renewable resource that actually benefits the environment during tree growth. Concrete is extremely destructive for the environment. It's much better for homes to be replaced then represent a permanent barrier to the natural environment.

[@Jasongy827]

The biggest problem is when renters and rich class Americans and foreigners are buying property and housing flipping it, or renting it out.

[@melinda67]

That’s not a problem, that’s just smart to do it this way

[@Jasongy827]

@@melinda67 smart way for only one persons benefit profiting off from family. It’s not really beneficial for economy. As people raise rent a lot of people will move away. Where as someone who buys house, retains mortgage over time, which is a consistent money for the government to fund programs.

[@Abel-Alvarez]

@@melinda67 Easy for those who HAVE a home, hard for those that don't.

[@stratplayr6997]

They do it because there are people willing to pay for it. Simple supply & demand economics.

[@willc5512]

@@stratplayr6997 Its a balance to having too many renters in a neighborhood. Renters in the lower brackets take/destroy value out of the neighborhood & upset the few remaining homeowners. I deal with that pushback being a black male fully paid off cash, working 3 days a wk. Its old angry white folks mad that they paid a 30 yr mortgage back in the 50s & they gotta deal with millennials like me :-). Like its my fault the govt drew a REDLINE around the whole neighborhood...Just ignorance..

[@Dansk55]

I'm not buying a freaking matchbox for $400,000!! Its even worse now if you're single. My 800+ credit and 20 down doesn't matter anymore. I wish I bought back in 2018.

[@forrest3]

Upbeat CNBC music over coverage of hyperinflation is really something

[@spacetoast7783]

Hyperinflation is when one asset class appreciates slightly faster than usual.

[@Bladeoceanic]

This is why i live in a rundown trailer out in the middle of nowhere. Probably gonna have to wait another 25 years or so till the market gets flooding with empty boomer houses.

[@FINSuojeluskunta]

Chinese investors will easily outbid you

[@doujinflip]

More like skilled immigrants will outbid you, especially since they're not as picky about the exact neighborhood or physical condition of the home; they're just glad to have a place in America where they can access their business and fellow expats.

[@redwhite_040]

Yep, sometimes I think why not buy and live in a big caravan or tiny home and have no mortgage. The regular housing market is doomed.

[@LF12468]

I'm in a run down double wide out in the middle of nowhere on 5 acres with a pond. Sitting back laughing at all these city slicker townies

[@Me97202]

Sorry. Us boomers will give them to our children and grandchildren.

[@mrbones9264]

This is what happens when you flood the market with cheap money. You see this everywhere around the world. Investors buy property in search for yield, consumers borrow more because simply they can afford to. And that's how the cycle continues upward. I just bought a house in a record year in the Netherlands, prices have never been this high. However my interest rate is 1.29%, which is still cheaper than renting.

[@Charlesbjtown]

And I thought I was killing it, but getting a 2.25% rate 😭

[@tinytownsoftware7989]

That coupled with the threat of high inflation is making anyone with any cash gobble up stocks, property, crypto and everything else in between that has real value.

[@richmarcus161]

@@Charlesbjtown cus your black

[@osmarsantanafilho3184]

Well, where is the bad thing there? In Netherland you have a shortage land too !! you'r going to pay a lot less in interest and expenses arround your mortgage because the I.R is low You should not complain about a situation where you are getting beneficiated xD

[@philmarsh7723]

And cheap money creation is theft.

[@walterdiaz2003]

I bought my house just before the pandemic and I paid 359K. The asking price was 325K and at that time I though I paid too much. Overtime and after the pandemic my house has reached 450K+ or more. It's bizarre a chunk of house like this should cost 225K no more.

[@sew_gal7340]

A house costs what someone is willing to buy it for, it can't cost XYZ because you think it should. That's like saying a painting sold for 5 million should be worth $10

[@MrBibi86]

nice price. here in Australia you would pay $1 million +

[@hhwin2198]

The problem with getting a fixer upper is that materials are also getting expensive for DIY projects. So, not sure it’ll pay off in the end. Pre pandemic I would agree with a fixer upper.

[@HughMadBro]

With the rate this is going I’m gonna build a tiny home 😂💀

[@sew_gal7340]

@Bardenbella120 Tiny homes are in the 100k + now too...capitalism ruins everything

[@TimGamble]

Or in our case, finding a contractor to do the work. They are all booked up.

[@hhwin2198]

@@TimGamble Or you’ll have to offer a lot more so that they’ll put you as priority.

[@rocking1313]

In the US Investors like Blackrock are new outbidders - we saw this in Spain/Portugal last decade with investors from China (abnb) and UK (holiday homes), locals could not afford to buy a home in their own city

[@ブレイヴフェンサ]

Those assholes own everything, they’re defo part of the problem but most people don’t know them.

[@Drmarc1220]

This is happening where I live. Add on the collage students with loan money and everything just sky rockets every year. Residents are being pushed outside the city limits to find affordable housing.

[@michaeldavison9808]

The only issues about holiday homes in the UK relate to holiday destinations like national parks and bits of Wales/ South West. There is no conspiracy as implied above - people with money will buy houses wherever they would like to live. Doesn't everyone reading this want their money to be as good as everyone else's so they can buy something if they want it more than the guy nextdoor? The alternative is to have some soviet-style common ownership and allocation system - which frankly will please very few people and give those who are unhappy no choice...I moved house twice just to be in the right school catchment for my kids - a privilege I paid for, but was willing to pay for.

[@michaeldavison9808]

@@jkeelsnc second home purchases ARE taxed very punitively in the UK actually. Both in (~double) Stamp duty on purchase AND capital gains tax on sale. Neither of which apply to homebuyers.

[@blarpieman]

WTF are interest rates doing at near zero. What purpose does that serve except to pump home values and cause even higher prices in all asset classes. Its such a scam.

[@jamesmoore1532]

Look up the Greenspan Put, it's been going on since 1988.

[@EcoFustionTV]

Interest rates were cut to near zero when the USA economy started tanking, this was to "Theoretically" incentivize more economic growth by allowing more people to take out loans for businesses, buildings, vehicles ect.

[@laurap.5446]

It really is.

[@blarpieman]

@@jkeelsnc I'm fine with a volcker at this point. At least run rates at 4-5% to give a competing interest to wall street.

[@leergut858]

Easy awnser: Because your system is broken. Now you suffer the consequences of unregulated capitalism.

[@MichelleLLL]

Heavenly father I pray that you keep the person reading this alive, safe, healthy and financially blessed Amen

[@CatholicWeeb]

Thanks man, I needed that.

[@SundaysHealing]

Sending peace, strength, good heath, and joy your way as well. Keep being a blessing 💚

[@ScorpioMystik07]

Thank you, wish you good health and happiness always.

[@harrys5925]

People in Ontario Canada are laughing at these “high prices” 😂😂😂

[@eoinnoonan8079]

As are all the banks and real estate agent's .

[@sunday3pm735]

For people who buy good district, the very least starting point is usually $1m

[@shaddythewiz3836]

@@joe6487 if u ever saw new York city u would cry . even in bad neighborhoods u can't find cheap homes.

[@khalon4993]

You think that’s bad? Trying living in Switzerland

[@sm3675]

I know. A home which would've costed 450 k in 2013, now costs 1.1 million. And the 300 thousand immigrants that are expected to come this year, is just going to make the situation even worse.

[@studymapai]

Everyone is hodling their houses 😂😂😂

[@Comeback180]

Rich people and other real estate people are buying the homes up and renting them.

[@Wall.Street.AV.]

Don't sell, diamond hands!!!

[@danielrich2338]

YOLO! 💰 💰 My house is going TO THE MOON!!1!🌙

[@zerosk8ter9]

Hodl!

[@charifield]

Much wow 💎🙌🏽

[@JezabelleAsa]

It's so frustrating to constantly hear 'there's a labour shortage'. No there's not. There are people out there who are willing and able to do the work, they just refuse to do it for free. There isn't a 'labour shortage', there's an 'exploitable population shortage'. Try paying a livable wage and see how many people will build you houses

[@piyush10793]

US: Home prices are too high! Canada: Hold my maple syrup.

[@empire867]

hong kong: Am I joke to you....

[@ACommeAnita]

Ireland : Hold my Guinness

[@susanharris8406]

Yorkshire hold my cuppa tea,

[@SilentXTMR]

Taipei City: hold my bubble tea

[@ButteryBao]

Was gonna say this too lol. Small bungalows in the distant suburbs of Toronto start at $1M. Want a nice detatched house like the one in the video? $1.5M - $2M minimum.

[@ddschroe11]

Let’s just keep building “luxury apartments”!

[@MrAlexanderAmes]

This, but unironically.

[@ddschroe11]

@@MrAlexanderAmes definitely not the answer.

[@ddschroe11]

Don’t let the IKEA furniture and fixtures fool you! These are LUXURY apartments. See, it says so on the sign out front.

[@haute03]

@@ddschroe11 loll so accurate

[@jayg1438]

I live in a non-luxury city (Eastern fringe of the rust belt) and the only thing being built is 'luxury apartments'. Rents 1200-2000 a month. The Median household income in my metro is @$65k. My mortgage including ridiculous NYS property taxes and Insurance is $1100. It's not a fancy house, but affordable and growing equity. These luxury rents drive up rents in general and push up the demand for houses even in a city like mine. Increase demand, with not much building in a city like this, and the prices will increase until equilibrium sets with rents.

[@patrickgrady7505]

Wow. I remember getting a house right here in North Carolina back in 2017 for $90k. 3 bedrooms, 2 bathrooms, a bonus room, a decent size backyard and a separate 2 door garage. Thought there was a catch like somebody died in the house or something but nope. House was fine and the previous owner even included a washer and dryer. After seeing this video I need to check how much this home is worth now.

[@drock1974life]

A lot more than that I bet. But I wouldn't sell it. You won't be able to find another deal like that anytime soon.

[@ProdigyMan88]

What's the price now?

[@nosir1440]

You ever find the price?

[@DGM34]

Price probably around $350k now

[@taylorbug9]

THERE IS NO SHORTAGE OF HOUSES! My boyfriend's mom and I drove around for about 45 minutes to an hour around our town and found an entire list of abandoned houses that are not on the market. Almost all of them were in livable condition. Some of them are pretty nice. There is no shortage of housing. There is a massive amount of people holding onto houses that they don't live in and they won't sell because they think they deserve more than it's worth so they won't even put it on the market.

[@shysweet5439]

people don't own those homes, hedge funds and banks do.

[@naegleriafowleri2230]

just go in and squat

[@taylorbug9]

@@shysweet5439 that's true as well!

[@EvergreenVB]

@@naegleriafowleri2230 In some states you could be legally shot for doing that, it depends on how the Castle Doctrine is interpreted.

[@freeinghumanitynow]

Agreed. The narrative that there's a housing shortage is a lie being told to keep certain demographics from becoming middle class. This whole video is chocked full of lies. That said, here in America housing is entirely too expensive because they really don't want lower class folks becoming middle class. They keep building these expensive, very exclusionary suburbs that are pretty much only filled with high-earning white families who don't want to live near black, brown or disabled people. Why do these videos never address this? In most cities the black, brown and disabled are housed in awful apartments and high rises while the monied whites enjoy their posh, sprawling suburbs and in some instances, their multi acre rural homesteads. It's so maddening.

[@bbear1928]

I think a major problem for first home buyers is that there are a lot of wealthy buyers. If there is a home purchase quota per person (limit the number of buyers), then home prices can be more affordable.

[@mguti090]

I'm Cuban and I know I've seen ideas like yours play out in practice. I can't remember where. 🤔

[@bessiekruis7460]

I think so too! There should be regulation on the number of homes one can buy especially those business people as an investment or business! The first time home buyers should be given priority to buy! Those real estate investors actually push the house prices up and compete with first time home buyers! Thus, the rich gets richer, and the poor gets poorer! Crazy!

[@mguti090]

@@bessiekruis7460 Communism has never worked. It is also extremely immoral.

[@chomihai]

For a wooden house it’s extremely expensive

[@googlearepedos5608]

have you seen the price of lumber recently? its up at least threefold

[@cuddlemuffin.9545]

Its shortages. Contractors are rejecting contracts due to shortages

[@tonydoggett7627]

Cheap by Sydney Australia prices!

[@machinist7230]

@@googlearepedos5608 8 foot 2x4s are now north of 8 bucks a stick, and a buddy recently was forced to pay $65 for a sheet of plywood to build a shipping crate. Many, if not most builders have stopped taking orders for new construction, meaning demand on existing housing stock is even greater.

[@googlearepedos5608]

@@machinist7230 hyperinflation is hitting things like lumber first soon it'll be the food and bills that start skyrocketing

[@kanank13]

there was a time things were slow and steady , these days everything is so volatile, hyper ,topsy turvy, challenging to say the least.

[@Bucks7542]

@hoiy vinosa this comment should have more likes. People don’t even use most of there house. It’s all ego driven

[@Osmium192]

We are in the bumpy plateau phase before the Collapse.

[@ovhni]

This is how capitalism works. The once-every-decade-or-so-crash is inevitable. Buckle up!

[@BRBallin1]

Capitalism promotes progress and velocity at which progress is made and as infrastructure gets built up it will only make productivity increase more and more

[@motokev2727]

How true

[@robertshea2010]

My sister bought a house in March of 2020 when interest rates dipped but houses didn't start getting expensive yet. The value of the house has gone though the roof since then.

[@FinancialShinanigan]

Everyone in the comment section praying for a housing crash lol I feel y'all

[@googlearepedos5608]

never going to happen hyperinflation is here to stay and land is a SUPER valuable commodity.

[@googlearepedos5608]

they just printed 25% of the entire US money supply in the last year alone. thats 25% of ALL DOLLARS EVER PRODUCED. every time they print money, your money is slowly sliding to become worth less than the paper it is printed on.

[@pbassassinz8097]

Housing crash this is completely different than housing crash of 2008 demand is at an all time high for homes and theirs not enough homes for sale so don't hold your breath.

[@vjay6667]

Me too and I own a home but property taxes are killing me in Texas

[@94fleetwood94]

@@vjay6667 I've been telling my uncle who lives in Texas to look up here in the upper midwest. But the "cold" is always the primary reason....after the electric bill of about $8,500 during the winter, I'm curious to hear what he thinks. I live in a more affordable living costs and better neighborhood than what they currently live in. With the census showing more population moving into coastal states is only going to grow the demand for housing prices and car traffic over time. Whatevers I guess.

[@joshuakiely7471]

USA: our wooden houses are so expensive Every country in Europe: Hold my beer

[@kavisundar1949]

Every country in Europe AND every other country in rest of the world!

[@Ineptsaint44]

@@tiffany3652 that’s because no one wants to live in Germany

[@greenbean501]

@@Ineptsaint44 I would much rather be there than the usa

[@bruceofwayne4822]

@@Ineptsaint44 I lived there for three years. If I was able to afford it I would leave new York and move back to Germany in a heartbeat.

[@EasternDreamer615]

The government helps to keep supply artificially low so it can be more heavily taxed due to inflated values.

[@apartment-gouginglandlord-8775]

Criminal enterprise!

[@AutoEnthusiastJC]

Texas government lives off of property taxes. $7000+ a year for an average non-luxury house just for taxes.

[@SkyReaper]

Man, after spending 17+ years of rent money moving from apartment to apartment, I finally thought I could afford a home this year. But Nope, guess not.

[@RizztrainingOrder]

I sympathize, I’ve been renting for 8 years and am absolutely no closer to owning a home. I am on the market but with the Last 3 bids, regular folks and families were competing with a multinational financial institution with practically infinite money supply. It’s insane! Renter nation!

[@jacobmccammon4078]

Same :(

[@user-cg6fd4in1d]

I feel really fortunate. I bought a condo for $30,000.00 more than 4 years ago. I can sympathize what you're going through.

[@CaraMarie13]

Owning is nice but the point is to have a roof over your head and am saying this as someone who has purchased shares in a co-op. I probably have a different outlook to renting because I live in a big city where the majority of the people are renters so to me renting is just as good. If i could have found a one bedroom apartment for the same price as my mortgage and maintenance fee, i would have kept renting

[@TimeBucks]

Is there any solution for this crisis?

[@bencas9288]

@2freeIvX increasing minimum wage would make this worse . You must be young and understand the last minimum wage increase

[@tawannasteele4534]

That’s the question..

[@AC85Bears]

Socialism

[@bencas9288]

@@AC85Bears your right it works in Venezuela , North Korea , and China just ask the wyguers

[@AC85Bears]

@@bencas9288 If you think that China is in any way socialist then I've got some bad news for you. They're as Capitalist as you can get. Frankly I've learned over the years that what a government calls itself is irrelevant but rather how it conducts itself, that its true form of governance is revealed.

[@fergalfarrelly8545]

The value of your dollars are going down not prices going up. People trying to 8nvest and grow thier savings faster than their savings are devalued.

[@maythesciencebewithyou]

You seem to feel smart for saying this, which you've probably heard or read from someone else but. But nope, what's happening is literally that prices are jacked up by landlords. Housing literally gets more expensive. You could say your money effectively becomes worth less. That's an effect, not the cause. The cause is as I said the greed of the property owners.

[@e7venjedi]

This is such a good reminder. Needs to be the top comment. *Way too easy to forget.* We see prices going up and think the demand is going way up only. Or is it our dollars not being able to buy as much?... So hard for most people to connect the two.

[@blarpieman]

@@maythesciencebewithyou She isn't completely wrong here. Velocity of money is highest in the cities and in the outskirts velocity is lower. Interest rates at near zero, printing of trillions in spending are contributing. There is dilution at play here and money that bid up city living moved into areas where it isn't supposed to be like suburbs. I would bet if the fed tightened monetary policy to 5% home buying would decline sharply.

[@bigdogg1206]

@@maythesciencebewithyou fergal is exactly right. It takes more dollars to buy the same house. Your wrong.

[@maythesciencebewithyou]

@@bigdogg1206 Are you too stupid to comprehend cause and effect. It takes more dollars to buy the same house because property owners keep increasing the prices. Effectively it appears like your money is losing value. The cause is greedy people just want more money. This wouldn't happen if they wouldn't increase the prices. Your 100k dollars doesn't become 50k dollars, just because the property owner is now demanding 200k. Housing prices do not magically increase. Investors buy houses with the intention of making it more expensive, so they get higher returns to their investments. Your buying power diminishes as the thing you want to buy becomes more expensive. But not everything increases in price equally. Many things have stayed the same price, while housing prices in many places have doubled. Other things have gotten more cheaper, so in regards to those other things, your purchasing power, or as you put it, the the value of your money has increased. Your money might not be able to buy you a house in the city center as those have exploded in price, but go to a town in the middle of nowhere and you'll find houses that have lost value and become cheaper, so in those plaecs your money is worth more. If you buy something on sale, does your money magically become more worth?

[@nyonsmith6621]

It is literally a nightmare out there in Ohio. My wife and I have been looking for months, and we refuse to pay these inflated prices. We're blessed that we already have our starter home, but just wanted to move to the next stage in our life. 🙁

[@Ryan2022]

OK but how is this a crisis you do realize that home building is based on buyers so you’re going to have high prices in one area of the country in which they sell their house and then use the spread to buy houses that are much more expensive in another area than they were just a few years ago. How else would it work? The houses that are much more expensive in the area that you are moving to are still much less expensive from the area you left

[@ブレイヴフェンサ]

Another problem that I realized you Americans have is that incessant need to keep moving from place to place every 5 or 10 years just for the hell of it lol

[@googleuser868]

I been living in my starter home for over 30 years. Cheaper property taxes and I do all my own handyman work. No way I want the higher cost of a newer larger home. Don't have to have insurance without a mortgage either.

[@halfvolley11]

Houses in USA are perhaps the cheapest in the Western and Developed World. I don't know what CNBC is smoking. Here in Toronto, Canada, any single detached even 50 km far from downtown Toronto would cost you 1 MILLION.

[@royharper2003]

where did you get that data?

[@PepperJackBrown]

Out of everything said in this video, I think the craziest thing was 5% of people bought a house without seeing it in person. I assume they are probably rich and was buying a new house but still lol

[@felistine]

My mortgage is cheaper than renting. I’m very lucky. It’s crazy here.

[@Rashaadthegr8]

Just because it's cheaper doesn't make it better. If u don't own it I still a renter.

[@Rashaadthegr8]

Most Americans don't own their house or their car. Don't believe the hype!

[@spacetoast7783]

Cheaper if you stay in an equivalent place for several years. You centrality don't come out ahead until 5-15 years have gone by.

[@spacetoast7783]

@Jamey Lane Literally any stock index fund would give better returns.

[@felistine]

Not saying it’s better. I’m probably a lot older that you guys and been in my home longer. Not hype. Just what worked out for me. I’m not moving. I’m towards the end of my career, not the beginning so I don’t need to be mobile. It’s almost paid for. I’ve lived in apartments. And yes. It is better. Younger people who for their employment need to be mobile, go for it.

[@flashoflight8160]

Watch out, many employers are saying "just kidding" when it comes to post-pandemic remote work. Looks like the most recent homebuyers who paid way over asking are going to be long-term bagholders.

[@0IIIIII]

Where is the proof?

[@jaynordiaz4609]

@@0IIIIII many places in NYC have reverted back to trying to get people back into the office after saying remote work is here to stay

[@arlmont123]

No. Employers that are allowing people to work remotely are not " kidding ", as employees know there are other employers readily out there that are not " kidding "... employers know this too.

[@jacksevert3099]

@@arlmont123 yes that's what I did. I jumped ship to a full WFH gig after old company mentioned a hybrid model transition back to office

[@beddythecorgi4269]

Nope, they will be the next bailout. Salary hasn't matched these so called housing gains. Doesn't take a rocket scientist to see a repeat of 2008

[@98cebu]

The problem in my area is, 1,000 per DAY are moving here, the entire damn country thinks they can live in Central Florida causing a shortage of houses and apartments, and raising rent and prices to insane highs, plus traffic is a nightmare, public transportation sucks, and crime continues to worsen.

[@klutch...]

The housing market is extremely manipulated and prices are inflated When the bubble bursts, there are going to be alot of homeowners that owe more than the houses are worth

[@TheFalseHuman]

Even if it bursts, if it doesn't come down that much, it won't mean much for many people

[@Son37Lumiere]

@@TheFalseHuman It'll come down 30% minimum, possibly as much as 50%. When the bubble will burst is impossible to predict though.

[@TheFalseHuman]

@@Son37Lumiere exactly, impossible to predict yet look at what you're doing lol A price coming down 30% doesn't mean much if it has run up 42% given a period of time (1.42 * 0.7 ~= 1)

[@Son37Lumiere]

@@TheFalseHuman It means it'll be much more affordable than it is now. And predicting the amount they'll fall is an educated guess based on available data. I said it's impossible to accurately predict when the crash will happen but rest assured, it will happen.

[@TheFalseHuman]

@@Son37Lumiere ok, let's say now is already at an unreasonable price. It goes up another 42%. Then the bubble burts and drops by 30%. We're back to square one basically (over this time period). This is why % of a price dropping doesn't really mean much by itself if the price keeps going up prior to the drop. This is my point. Ofc, if we assume the price remains constant, and then the 30% drop happens, then yes, it's cheaper now. But given how housing prices are still going up and basically been so for so long now, I think the assumption of the price remaining steady is a bit unrealistic.

[@christincavanaugh2357]

We need to start capping HOA fees too. Some of the fees around here are up to 5 and $600. It’s so unnecessary. It keeps people from being able to afford to live in a lot of the neighborhoods around here. They also should be limited on actions against your home too. I don’t believe that an HOA should be allowed to force you out of your home or force it into foreclosure or put a lien on it unless it’s become a health and safety concern such as hoarding

[@piginspandex]

That would be a cheap HOA in the DC area. I've been looking for houses where HOA fees top $1200 a month. That used to be rent.

[@ajb7530]

I will never live in an HOA house. Too many horror stories about HOAs controlling people.

[@aztekempire]

@@ajb7530 what

[@Dog.soldier1950]

It all depends on what the HOA does, read the CCR and the annual report. If the fees are not inline with whatever your getting from the HOA then you can call for a vote to amend the fee’s or for that matter the CCR. I found the best course is to become an officer in the HOA. Just harping on the sidelines doesn’t do much

[@andrewcummins6464]

The HOA should just be passing on the costs of operating the property. Ext maintenance, insurance, utilities, amenities, etc. Theoretically if you owned a home you would be paying a similar cost.

[@Cyrus992]

You forgot to talk about how builders are too obsessed with McMansions and how automated technologies will change the game.

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[@Cyrus992]

@@primordialsoftware9294 That is probably the largest load of BS I have ever heard. Attractive historic neighborhoods sell at a premium because folks desire the architectural quality and walkable lifestyle where the builders fail to offer. They can wake up and inform folks of quality and not quantity.

[@TheRealEdStoner]

They missed two of the biggest reasons houses are expensive. 1. The two family income and 2 because of low interest rates people are keeping their house as rental property which accounts for some of the shortage.

[@vulcanraven9701]

They are literally punishing people for having 2 income households.

[@TheRealEdStoner]

@@vulcanraven9701 most 2 income people punish themselves by their own spending habits.

[@vulcanraven9701]

@@TheRealEdStoner that's just ducking the unaffordable housing crisis

[@abigailmendoza2502]

Maybe we should stop advancing in technology and start hiring men to build our country again. Maybe more smaller homes? Not everyone wants an expensive mansion.

[@nathaliedaceus8654]

Mansion is 12,000 sqft minimum

[@chrisgarciahostof-isitjust6697]

I like that idea. A lot.

[@sarahkaplinger2517]

We should continue to advance our technology but in a different direction. We should invest in smaller, more affordable housing that uses sustainable materials. I agree. I don't understand why anyone would want to live in a mansion. So unnecessarily extravagant.

[@bChipps]

Men are more expensive than machines it’s not that it cost more to gather the materials and build a house it’s that we have price gouging on every step of the supply chain

[@小洋333]

hello

[@yit555]

“I wonder why houses these days are so expensive?” *shows pictures of 5 bd 3ba mega suburb houses*

[@starventure]

If you consider a family of six(2 parents and 4 kids - not uncommon) that five bd house works out just right.

[@Iamthebranch]

I’ve seen 2 bedrooms in Florida not the best neighborhood expensive as hell.

[@94fleetwood94]

@@starventure 3 bedroom homes are just fine for 2 adults + 4 children. I lived in 3 bedroom homes all my life and so did most people of my family. Especially since our parents simply built an extra room in the basement or attic (depends on the home). Also the oldest child should be ready to move out into the world by the time the youngest grow into the teenage years.

[@PausePause98]

For what it’s worth, I’ve been looking at houses in the greater Seattle area and it’s as much as $600,000 for a 3 bed 2 bath house in some of the cities close to the interstate

[@josecampos7157]

Homes are not as expensive to build as you think. Unless it's custom homes with a lot of nice, but not necessary stuff added. For half a million a very large home can be built but it won't have heated floors or marble counters.

[@zihaozhang7177]

US: Houses are expensive. China: You guys can buy HOUSES?

[@devon9374]

Facts lmao. Imo US housing prices are still reasonably priced in most of the country. Folks how no clue how bad the situation is in places like Shanghai and Tokyo.

[@eagleeye5943]

Sucks when you can only own the building and not the land its on

[@rayreyes7984]

“Look the Americans being racist again. Oh one of them has a gun!” - China

[@zihaozhang7177]

@Elvis Gaming ROBLOX Nah, I live in the US. But am from China.

[@aaap3875]

@@rayreyes7984 You should see racism in China how Africans are treated in Guangdong. They take racism to a whole new level.

[@TheOneinthewoods]

Governments NEED to allow unrestricted zoning for smaller homes

[@nikoid3631]

It's no government right but a real estate company monopoly game.

[@dirtbeard108]

then you would have developers buy up all the homes, tear them down and build more apartments.

[@klimankhmeron7636]

The state government 2 years later: "Did every one settle down? Is everyone comfortable? Is everyone happy? Then, it's Time to pay more property taxes!"

[@spacetoast7783]

Everybody *should* know that property taxes exist before moving in.

[@watchespn1913]

They really need to increase property taxes

[@marktn9851]

Plus mortgage interest of 20%

[@marktn9851]

To curb hyperinflation created by gov to curb QE to save our economies to curb our housing crisis during 2008...

[@arabianprince7508]

@DON'T Plz stop nazi Israels inhumane acts against Palestinians, thier weapons are funded by your government spread the message and here is a summary of their lies kzbin.info/www/bejne/aofOgaibqp53f7s.

[@cameosix7077]

Looks like housing prices are increasing everywhere, time to move to that igloo in Antarctica

[@richardrichardson1321]

Somehow the US government will try to make you pay property taxes

[@acajudi100]

Homeless shelter or a room in Acapulco with a poor family.

[@migooknamja]

Ice prices have gone up due to covid

[@CeeTee380]

Good luck keeping your ice bricks from melting

[@kazimirvladkoff7399]

In some Eastern European countries its affordable with a western salary. But hey nobody wants to live here so...

[@shaanee]

Its controlling a basic necessity in order to have an exploitable workforce.

[@BTrain-is8ch]

Go buy some land and build yourself a home... you know you can do that right?

[@dandavid2027]

@@BTrain-is8ch I've done a lot of research on this as I thought it was a good idea. Permits, getting water, sewer ect. System is structured not to be cheap or convenient. They're keeping a good grip on our throats

[@joebotz1243]

Well put

[@joebotz1243]

@@dandavid2027 we are the only species that pays to live here

[@shaanee]

@@dandavid2027 if you are going to do it, now is the time. & if you're in the states there are many great areas.. other places in the world there is no property tax. take each utility(power, water) as a challenge and solve it..

[@evanarroyo1384]

Damn… watching these videos make me think that USA really can’t do anything right…

[@mateotinoco2393]

Why are housing prices going up...salaries have been the same for decades

[@cherrycoyote55]

Inflation sure has kept steady!

[@uria702]

You can thank the Federal Reserve for that. Houses are expensive because the federal reserve reduced interest rates. Lower rates means more expensive homes can be bought with the same monthly payment, so it caused a bubble in real estate prices.

[@christinahagen4759]

Over inflated prices for homes is a Hugh problem and now almost everywhere in the US those homes are not worth it..

[@Teetee554]

I totally agree. I'm not paying 50,000 or even 150,000 over the asking price for home that's not even worth it.

[@averagereviews]

@@Teetee554 It'll trickle down to renters if the prices become the norm across the nation. Where does that leave the person who can't afford to buy or rent?

[@z3rz112]

@@Teetee554 You won't but your college buddy and his family will :)

[@williamdorsey904]

I've bought in another country where there is NO property taxes

[@williamdorsey904]

@@averagereviews parent's basement

[@master8127]

Young adults are screwed nowdays because of the low interest rates.

[@chrisgraham2904]

How does that work. I bought my home at an interest rate of 8 percent. Three years later, the interest rate was 16 percent. How was my high interest rates better???

[@master8127]

​@@chrisgraham2904 Young adults cant even gather enough capital to pay the downpayment nowadays, because prices exploded (due to low interest rates). At the same time wages stagnate. Here where I live, you can afford 3 squaremeter every year with the average wage (assuming you have no other running costs). But since you dont own a house/flat yet, you need to pay rent.... so good luck with gathering enough money for a down payment

[@chrisgraham2904]

@@master8127 If you are in the position of working a minimum wage job, ($14 /hr. in Ontario) there are many things that you will not be able to afford, including ownership of your own home. That is unchanged from 50 years ago when the minimum wage was $1.50 per hour and a modest house was $100 K (July 01, 1970). Many individual young adults and couples are earning a far more livable wage, but they are still failing to afford a down payment for a home due to other lifestyle choices. Analyzing and readjusting priorities in your life can often result in a process that will develop reduced living costs and the opportunity to save money.

[@master8127]

@@chrisgraham2904 I am not talking about minimum wage. I am talking about studying and not being able to buy a normal home in a mayor city where you are going to work

[@chrisgraham2904]

@@master8127 I gave the minimum wage example to show that it wasn't that easy 50 years ago to afford a home then. I was making $4.84 per hour in 1972 when I bought my house. If you, or you and a partner are making a combined income equal to $40 to $50 per hour ($8,000.00 per month), you should be able to enter the real estate market. If you have planned and educated yourself accordingly this income is reasonable. If you have this income, but still feel that you are not able to play the game, then you need to have a hard look at your current lifestyle.

[@vitaliyfursov2011]

And another fact: US houses are made from cheapest material, it's cheapest technology in the world, which did not change in 100 years. Yes new materials, tec.. but it's 2x4, drywall, stucco, and asphalt on roof. That's it. Cheap sheeet

[@christinebaca5409]

What?? Do you live in a cardboard box?? Not sure where you got that information... US has some of the most high tech and quality homes. Just because it’s not always brick don’t mean it’s cheap.

[@tekkenfan01]

Europe still building castles

[@RickLSun]

@@christinebaca5409 How resistant is your house to fire, flood or tornado? Ask yourself.

[@silvertime7188]

@@RickLSun nothing is safe from a flood not even a boat, and anything can be put on fire anything and tornadoes are regional

[@silvertime7188]

And if it gets really bad fema eventually bails you out

[@EpicSince2o1o]

This bubble feels like it's about to pop like everything else that skyrocketed during COVID...

[@boostedmaniac]

Agree

[@tedhu262]

No. Demographics. Millennials & soon zennials are flooding market. Demographic economics.

[@HadiSaad99]

It's the Fed that is responsible for that

[@ninaakari5181]

This is not a bubble. It is caused because of money printing central banks around the globe causes inflation and all the prices go up unles money getting burned same rate it is getting printed

[@ThatColtGuy]

@OMINOID what multinational corporations are buying up houses?

[@Dtoons]

I wonder if 3d printed homes will play as a solution to this crisis. They are cheaper to build, supposedly

[@swallowedinthesea11]

They will mark up the selling price.

[@guilleport]

It will. The Germans already proved it.

[@swatisquantum]

I manage rentals in CA. Houses in California are like 80% land price. A vacant lot in Tustin Orange County in a decent neighborhood is $600k. Starter homes 1200 sf 3/2 starts at 800k. You can go and build a house anywhere in the bookies for very cheap (under $80k) ...but you’ll have to make sure you have a source of income in that location, decent neighbors, access to water and electric.

[@calebgallegos369]

It won't because it's the land underneath that costs the most

[@jascrandom9855]

No. Because Zoning Laws are what make housing so expensive.

[@boss_ftw]

While some of this is adding to the problem, single family only zoning is really the primary cause. There is a market demand for smaller, more affordable homes and denser communities, it's simply illegal to build anything but a single family home with a big yard in nearly ~80% of residential zones in America. This also means it's less profitable to build anything but really expensive homes on these large expensive lots. Single family only zoning really needs to go away. You would still have every right to build a single family home with a big yard if you want, but it would allow other people to build a smaller home or a duplex, etc on their land as well. Investment companies who are buying thousands of affordable houses, taking them off the market doesn't help either.

[@vasilbutrakov7330]

As a european i dont understand how can americans pay 550k-700k usd for a wooden cardboard drywall house. The value of materials seems like 5k - 10k max 🥶🥶🥶

[@StephanieStone4737]

@@vasilbutrakov7330 is that how much you pay to live in your dwelling? The exact amount it cost to build it? I don’t understand why Europeans stick their nose in our business in order to put us down. Oh, wait-yes, I do know. It’s so they can come off superior to us.

[@DanielKauffman]

I thought PMI was an acronym for Private Mortgage Insurance, not Primary Mortgage Insurance.

[@kage-fm]

you only think that because of how right you are

[@FireoftheRedSun55]

A builder complained that the biggest price increase for them occurred at the mills with no explanation other than greed.

[@edwardheaney3641]

His lack of explanation is why he's a builder, not an economist

[@mssha1980]

@@edwardheaney3641 no it’s true. It has to do with the insane cost of wood

[@annowens5019]

How about converting the un-recycled plastic into building materials.

[@s2perman]

Exactly right.

[@boratb258]

@@edwardheaney3641 What used to be a $2-$3 2x4 is now $12, cost of construction material is 4x the cost of what it used to be.

[@Justin-ml8id]

“Houses in the US are expensive” Ever heard of Canada? Anyhow, despite not being particularly affordable, the US and Canada are the only few countries you can get a big house if you wish, which when compared the sq m or sq ft price to some other nations, it ain’t as bad as it initially seems.

[@vitsadelhole]

yeah I always find it funny that people call north American housing expensive but always tend to leave out just how much larger the homes are on average compared to other countries

[@spacetoast7783]

Canada basically has the exact same problem. Too few houses are built, and too far from the places people want to work, visit, and shop. Garbage transportation system too.

[@jonasgraumans2034]

House size doesn’t automatically mean better quality of live. Don’t let that materialistic propaganda fool you

[@asadb1990]

@@spacetoast7783 Canada's economy could change if they expanded manufacturing to rest of canada so jobs are created and lower dependency on southern ontario can decrease. personally im not worried about transportation because nothing beats a car in terms of luxury, convenience, etc.

[@vigilance_7008]

yes indeed

[@johne6081]

Single family zoning is NOT the problem. We end up losing precisely the type of housing people want, increasing the price of surviving homes. We need to bring back the idea of the starter home, a modest 1500 sq ft detached home on a 6000 sq ft lot.

[@jalifritz8033]

Yes it is it prevents to built any other houses. Especially in areas like San Francisco,Los Angeles, etc need other types of housing to create affordable living plus suburban homes don’t make enough tax revenues to pay for their infrastructure.

[@johne6081]

@@jkeelsnc My wife and I are fine with 1400 sq ft, 3 bed, 2 bath, plus her art studio and a 2-car garage. No common/shared walls, 360-degree light and ventilation, greenery, permeable soil, etc. She has always worked from home, and I have happily been doing so during COVID.

[@johne6081]

@@jalifritz8033 Just how dense and defoliated do you want housing to be? People vote with their feet by moving to suburbs and exurbs, driving that "sprawl" you evidently hate, in search of that great American tradition of "elbow room." We already have lots of multifamily housing in the big cities -- my question is why should we expect or want them to keep growing and packing people in and destroying established lower-density residential neighborhoods people chose and invested their hard-earned money into?

[@ReadwithChimey]

I blame Air BnB! Those who can afford are buying more for investments, while those who actually needs a house to home their family are left in a limbo!

[@ryanwalthuis1928]

Wealthy investors are buying houses in my hometown and turning them into air-bnb's. they need to be regulated.

[@ReadwithChimey]

@@ryanwalthuis1928 I bet it is the same everywhere. We don't stand a chance, not one bit. Yes, it should be regulated because house for people to live in is a necessity! A basic need. But wolves with money to throw is prowling everywhere. They know that they can afford it for a "side-hustle" rent money or what not. It is a vicious cycle. This is Capitalism at its worst! Sigh... The income gap will only become larger.

[@ryanwalthuis1928]

@@ReadwithChimey Capitalism is the best form of economy. but it will eventually be our downfall.

[@ReadwithChimey]

@@ryanwalthuis1928 yes, indeed. One's house with AirBnB, and Uber and alike for the cars. Don't know what else is lurking as it continues on... It sure sucks when people cannot afford a home cos all are getting sold to the investors with extra dough to spare. All the best to you, me, and everyone else stuck in the same boat of this sort🙏🏼 Stay safe.

[@skyak4493]

Air B&B directly violates zoning laws and evades hotel taxes. This contributed greatly to raising housing costs in desirable cities and completely undermined rent control efforts.