Major housing crash coming this winter or sooner

[Mjl]

Gotta feel for landlords.

Some of them are wealthy, sure.

But many of them are living from your paycheck to your next paycheck.

Yes, we should assign everyone housing, everyone gets a one bedroom room apartment. It'll be great. Just like the good ole days of the Soviet Union. And yes, I will continue to put words in your mouth on this subject until you can state what it is, policy wise, that you actually want

Please refer to my response in the strikes thread

I recall seeing platitudes about how we think of housing, not anything about how to achieve that

[ousdahl]

"Fancy, fancy houses...and low income apartments. And there's absolutely nothing in between."

… That no-frills entry level home that Pergens describes is just about vanishing in America. Once it was the stepping stone on a path to upward mobility for a huge swath of younger Americans. In 1982, 40% of the country's newly constructed houses were entry level homes. By 2019, the annual share had fallen to around 7%.

https://www.npr.org/2021/09/04/10335854 ... evel-homes

[japhy]

Sounds like a big opportunity there, to do something I mean.

[PhDhawk]

Sounds like a big opportunity there, to do something I mean.

That's what I was thinking.

[TDub]

Sounds like a big opportunity there, to do something I mean.

Do something??? Whoa bro...just wait to you see the next meme. Its gonna kill!

[jfish26]

"Fancy, fancy houses...and low income apartments. And there's absolutely nothing in between."

… That no-frills entry level home that Pergens describes is just about vanishing in America. Once it was the stepping stone on a path to upward mobility for a huge swath of younger Americans. In 1982, 40% of the country's newly constructed houses were entry level homes. By 2019, the annual share had fallen to around 7%.

https://www.npr.org/2021/09/04/10335854 ... evel-homes

Here's one perfectly sensible and human way to address the problem:

Starting Sept. 18, 2021, single-family lenders will be able to automatically identify a pattern of recurring rent payments in an applicant's bank statements during the underwriting process "to deliver a more inclusive credit assessment," according to a press release from Fannie Mae.

It is but one important step in correcting the housing inequities of the past, creating a more inclusive mortgage credit evaluation process going forward, and encouraging the housing system to develop new ways of safely assessing and determining mortgage eligibility in order to fairly serve all potential homeowners.

- Hugh R. Frater, Fannie Mae CEO

This is good news for homebuyers with a limited credit history but a strong record of on-time rent payments. About 20% of U.S. adults have an insufficient credit history, in part because only 5% of renters today have their on-time rent payments reported to the credit bureaus.

[...]

Fannie Mae's newest guidelines have the potential to help millions of prospective homebuyers who are able to make their mortgage payments but don't have an established credit history. Research shows that 17% of mortgage applicants who recently did not qualify for conventional loans would have been eligible if their on-time rent payments were considered.

https://www.foxbusiness.com/personal-fi ... nt-history

[TDub]

https://www.mercurynews.com/2021/09/16/ ... ornia/amp/

hmm

[Deleted User 89]

https://www.mercurynews.com/2021/09/16/ ... ornia/amp/

hmm

i’d think gated, private communities will see a boom

[Deleted User 89]

heard on the news this morning that utah has 3 of the top ten cities with the most over-valued houses

Logan, Provo, and SLC

[TDub]

https://www.mercurynews.com/2021/09/16/ ... ornia/amp/

hmm

i’d think gated, private communities will see a boom

yuck

[jhawks99]

https://www.mercurynews.com/2021/09/16/ ... ornia/amp/

hmm

https://www.youtube.com/watch?v=pFnNXGRGIzQ

[twocoach]

https://www.mercurynews.com/2021/09/16/ ... ornia/amp/

hmm

I went out and found a little more details on what the bill actually is because that article is obviously heavily biased against the action, instead of simply reporting it. The bill seems to do nothing to "abolish most single-family zoning in California". That appears to be an outright lie. It looks like it allows homeowners in most areas around the state the RIGHT to divide their property into two lots, thereby increasing opportunities for home ownership in their neighborhood; and it allows the RIGHT to build two homes on each of those lots, with the effect of legalizing four-plexes in areas that previously only allowed one home. Nowhere in the bill does it says that these choices are required. You'd think that Republicans would like the government giving them more flexibility to do what they want with their land. "My lot, my choice" and all that...

https://www.gov.ca.gov/2021/09/16/gover ... ng-crisis/

https://cayimby.org/sb-9/

The move will no doubt reduce the number of single family zoned lots but based on the housing prices in CA, that seems like it would be a good thing.

[Sparko]

California's housing shortage is a miracle I guess, given the giant crash and all.

[TDub]

https://youtu.be/Trd49Da0gf0

[Overlander]

California's housing shortage is a miracle I guess, given the giant crash and all.

Haven't you heard? Everyone moved out of California!

[japhy]

Now would be great time to buy some coastal property in FL.

https://www.fema.gov/press-release/2021 ... -equitable

[ousdahl]

https://www.instagram.com/p/CVys-0hM9IK ... =copy_link

https://www.bloomberg.com/news/articles ... ing-market

[TDub]

https://www.cnn.com/2021/11/09/economy/ ... index.html

house of cards

[ousdahl]

saw this one a couple weeks ago and wasn’t sure where to put it.

I suppose it fits here now.

PSA: don’t finance a pizza.

https://twitter.com/darnelsugarfoo/stat ... 72578?s=21

[TDub]

insane