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Rising Star
Housing will take a hit temporarily, just long enough for Kushner and his boys to buy up a load of cheap property, before the GOP finally allow a stimulus bill through the Senate and the market conveniently rebounds.
Muhhh evil Kushner. Delusional.
Tanking real estate prices to enable corporate buy-ups of rental properties became a big deal during the financial crisis. It’s already happening again. This time, we’re seeing bundles of rent-backed securities instead of mortgage backed securities. Started big in 2013 and is a massive deal right now. Wall Street gives zero Fs about your personal situation and is more than happy to bully you if you sign the lease.
Investing is risky period. The market is diversified, yes there will be losers, but the sky is not falling.
Chief
Is it 7M or 28M? Seems like quite a range... is this just a dart throw?
Rising Star
They are using the PIOTA estimation model. Pulled It Outa Thin Air, one step below WAG on the decision maturity index.
Chief
Registering to vote gets quite complicated when you have no permanent address.
M1: Wait, so are you telling me that all these years I’ve been living in a rental apartment I could have voted?
Housing near me is booming, people are leaving the city and flooding the suburbs. Most houses are getting bought over ask before they get to market. So I guess it really depends where you are located and at what price point.
Where’s this come from? I think there are like 100-120m inhabited houses in the US. I don’t buy it.
I don’t think the govt would be willing to let this level of mass evictions happen. No one will get re-elected if that happens. They’ll probably extend rent deferrals and print money for incentives for land lords to keep them at bay until the economy starts to recover. So maybe housing will keep going up due to inflation, and the supply side won’t increase
I am not a fan of endless stimulus though. Wish we had closer to real capitalism in this country. Bubbles need to pop for people to have opportunities. But also Blackstone is probably salivating at the thought of being to buy up cheap properties like back in 08
I didn’t realize we had rent deferrals in Us
It doesn’t matter. Unfortunately the people most effected were already too poor to move the economy. Corona has really highlighted inequality in this country
Commercial real estate / apt buildings will tank, some will be converted to inexpensive condos & with interest rates low home ownership will increase. The wealth divide will become more pronounced but will move in the down the socio economic ladder. It will be on us to put social safety net in place for the evicted e.g. be prepared to see 50% tax rate in your lifetime.
I think the opposite will happen. Commercial real estate will take a hit, but home ownership will go down as folks lose their homes due to job losses.
Evicted people will find other places to live.
We have 10.5M undocumented immigrants in the USA I don’t see any of them living under bridges or taking government handouts.
People are resourceful..
Rising Star
This says 2007-2009.
^correct
The people impacted by COVID probably weren’t owning more expensive homes, so that part of the market will be fine.
If anything demand is dropped
So when should I buy a new house in DC Metro area?