What in the actual **** is going on with RE/Rent prices ? (TLDR)(SRS)

[dogorman7]

Redfin is 10x more accurate than Zillow. Zillow estimates are 100k+ over the real current value easily. Scumbags.

That being said holy **** at inflation in this country. Bidens America of piss.

For ****s and gigs I looked at current real estate/rent prices in most southern major metros, ya know , where's theres jobs.

Holy **** at what I found. I even searched my hometown area of Hampton roads and mind was nuked.

Findings

Nashville - Houses : 550$k+ easily. it was even pretty rare to see something under 600k.

rent : 1800$ +


DMV- Houses: 550$k+ Rent : 1600$+

Charlotte- Houses : 370k$+ Rent: 1500$+

Atlanta-Houses : 400k$+ Rent : 1700$+

Miami- Houses : 450k$+ Rent: 2200$+

Virginia Beach- Houses: 600k$+ Rent: 1600$+

Norfolk-Houses : 450k$+ Rent: 1500$+

those are about minimums to enter the rental and Real Estate market

mind was nuked how much more Norfolk/VB went up since I left

Virginia Beach is just about as expensive as San Diego , Same with Nashville and Miami

id rather keep my 6 fig union tradie job on the west coast and pay marginally more for a slightly smaller house lmao

CA prices are in every city now , mind is nuked. US is done. It will never be affordable anywhere where theres real jobs again

[JeepBruh]

Can confirm zillow is garbage. Bought a house recently and in the ~two months from when I started to a day before it closed it went up 17% on zillow estimate. Final price ended up only being 5% from the initial zillow estimate.

I talked to realtor, mortgage broker and appraiser all of them said zillow is chit. Unfortunately, Zillow has such a big name presence that they have at least partially created this housing price surge.

[MNGA1]

We are collectively on the road to Zimbabwe. Food, housing, energy, the basics are going to choke out what remains of the middle class and relegate them to poverty.

That being said, it started way before Biden although he has done nothing to slow down the train. Remember Trump basically instructing Powell to revert back to QE and ZIRP when the Fed was tightening back in 18 and the stock market started to melt down?

Well, actions have consequences, we are reaping the rewards of years of profligate spending and bad monetary policy. All to keep a bubble and the illusion of growth intact. We are nearing the end of an economic era. I just hope we avoid hyperinflation, although it is a distinct possibility. Numbers are way worse than reported and getting worse.

[GuineaDago585]

Went to look at a few apartments today. Places I’ve been eyeing for over a year. They’re asking $200 over their online listed prices... which are a solid $500 over what they went for in early 2021.

BRB going to rent a shotgun shack in bum fuk Appalachia cuz priced out of every city.

[knightofday]

We are collectively on the road to Zimbabwe. Food, housing, energy, the basics are going to choke out what remains of the middle class and relegate them to poverty.

That being said, it started way before Biden although he has done nothing to slow down the train. Remember Trump basically instructing Powell to revert back to QE and ZIRP when the Fed was tightening back in 18 and the stock market started to melt down?

Well, actions have consequences, we are reaping the rewards of years of profligate spending and bad monetary policy. All to keep a bubble and the illusion of growth intact. We are nearing the end of an economic era. I just hope we avoid hyperinflation, although it is a distinct possibility. Numbers are way worse than reported and getting worse.

Great post, we’re definitely at the end of an economic era. The system is about to collapse under its own weight.

Problem is op, it’s the banks and hedge funds buying up ALL these house for huge markups.

The Great Reset is well underway bruhs, prices ain’t coming back down

[Ikarsuz1337]

you will own nothing and be happy

[r32gojirra]

You’re all wrong

Several miscers have reliably informed me that the housing market is going to crash on 1 March 2022

So just hold on for another week you’ll be fine

[JeepBruh]

We are collectively on the road to Zimbabwe. Food, housing, energy, the basics are going to choke out what remains of the middle class and relegate them to poverty.

That being said, it started way before Biden although he has done nothing to slow down the train. Remember Trump basically instructing Powell to revert back to QE and ZIRP when the Fed was tightening back in 18 and the stock market started to melt down?

Well, actions have consequences, we are reaping the rewards of years of profligate spending and bad monetary policy. All to keep a bubble and the illusion of growth intact. We are nearing the end of an economic era. I just hope we avoid hyperinflation, although it is a distinct possibility. Numbers are way worse than reported and getting worse.

I can't blame Trump for wanting to keep interests rates low to keep the momentum going he created. We were barely out of the woods when it came to actual economic recovery from the previous decade and arguably the decade before that.

The real problem is the Fed creating all of the bubbles to begin with though.

[katya422]

Yep. That's how it is. I've read a couple of articles now with interviews of people who have to leave the area where they are living because they can no longer afford to rent anything.

Wages up 4.5% BUT housing up 15% to 40% and food up around 20%.

Just got a notice this week that my car insurance is going up from $48 a month to $60 a month for liability on a 15 year old Honda.

We are collectively on the road to Zimbabwe. Food, housing, energy, the basics are going to choke out what remains of the middle class and relegate them to poverty.

That being said, it started way before Biden although he has done nothing to slow down the train. Remember Trump basically instructing Powell to revert back to QE and ZIRP when the Fed was tightening back in 18 and the stock market started to melt down?

Well, actions have consequences, we are reaping the rewards of years of profligate spending and bad monetary policy. All to keep a bubble and the illusion of growth intact. We are nearing the end of an economic era. I just hope we avoid hyperinflation, although it is a distinct possibility. Numbers are way worse than reported and getting worse.

I may sound like a broken record on rising prices. It's just that I seem to have a new WTF moment every few days.

Longer timeline, but I used to get a Texas double cheeseburger at Wendy's for $1- it was the same price for a long time, then it was increased a little and then discontinued.

It was two small patties w/a slice of cheese, mustard and standard veggies. I was out running errands today and was hungry- pulled in to Whataburger thinking I would get a single Jr. and that would be reasonable.



I took a picture because it was so lame. One small super thin hamburger patty w/cheese and veggies-

$3.72

Almost 4X the price with half as much beef.

[dogorman7]

We are collectively on the road to Zimbabwe. Food, housing, energy, the basics are going to choke out what remains of the middle class and relegate them to poverty.

That being said, it started way before Biden although he has done nothing to slow down the train. Remember Trump basically instructing Powell to revert back to QE and ZIRP when the Fed was tightening back in 18 and the stock market started to melt down?

Well, actions have consequences, we are reaping the rewards of years of profligate spending and bad monetary policy. All to keep a bubble and the illusion of growth intact. We are nearing the end of an economic era. I just hope we avoid hyperinflation, although it is a distinct possibility. Numbers are way worse than reported and getting worse.

Yeah it definitely started before biden but that mother****er sped it up alot

[FAPhaggot]

We literally spent 4 Iraq wars of national debt just to pump rich people's stock and RE values, lol. Literally just using that money like fuel in a rocket booster to keep asset prices defying gravity from an anemic underlying economy. It's no wonder house prices are so decoupled from reality... the government has worked hard to make it that way.

$30T debt at a 0% Fed funds rate definitely feels like a breaking point though. Either they show their real hand and start hyperinflating citizens into ruin to keep the market pumped, or they end QE and the rocket turns nose down and starts heading back towards earth.

When it comes down to choosing between your welfare vs the 1%'s, whose side do you think your government will be on?

[imbored21]

and you can still get a 1500 calorie meal at costco for 5 bucks lol

[Schnitzl]

Good luck boys, you will own nothing and be happy

https://www.millionacres.com/real-es...-rental-homes/

Blackstone (NYSE: BX) continues to pour money into single-family rental (SFR) homes. The private equity giant is investing another $45 million into Tricon Residential, an owner and operator of multifamily and SFR properties in the U.S. and Canada. That investment is part of Tricon's plans to seek a dual market listing by completing an initial public offering on the New York Stock Exchange.

Here's a closer look at Tricon and why Blackstone is pouring even more money into the residential home market.

Tricon Residential currently owns 33,000 rental apartments and single-family homes in Toronto and across two dozen U.S. states. Overall, 90% of its investments are in the U.S. Sun Belt region, including Florida, Texas, and Southern California.

Blackstone is no stranger to the single-family rental (SFR) market. The private equity giant formed Invitation Homes in 2012 to buy up foreclosed homes following the financial crisis. At its peak, Blackstone was buying more than $100 million in homes each week, primarily in the Sun Belt region. That buying binge paid off, as it brought Invitation Homes public in 2017 and cashed out on its stake in 2019, making about $7 billion on the investment.

Blackstone got back into the SFR market last year. Its non-traded REIT, BREIT, made a $300 million preferred equity investment in Tricon. That entity is now investing another $45 million into Tricon, giving it a nearly 12% stake in the company.

Meanwhile, BREIT made an even bigger bet on the SFR market by agreeing to acquire Home Partners of America. It's paying $6 billion for the company, which owns more than 17,000 homes across the U.S.

The driving factor of these investments is the growing demand for single-family homes by renters. They provide families with the space and privacy they need while also giving them more flexibility than buying at a relatively more affordable cost. Because demand is on the rise, it's driving up rental rates.

According to CoreLogic, SFR rents are up 5.3% over the past year, the largest increase in the last 15 years. That fast-paced rental growth isn't likely to slow, given increasing occupancy levels and demand amid continued low housing inventory levels as builders can't keep up with the demand, especially given recent supply chain issues. These factors are making SFR investments increasingly more valuable, which is why Blackstone is pouring more capital into the sector.

[puristhndrwrth]

We are collectively on the road to Zimbabwe. Food, housing, energy, the basics are going to choke out what remains of the middle class and relegate them to poverty.

That being said, it started way before Biden although he has done nothing to slow down the train. Remember Trump basically instructing Powell to revert back to QE and ZIRP when the Fed was tightening back in 18 and the stock market started to melt down?

Well, actions have consequences, we are reaping the rewards of years of profligate spending and bad monetary policy. All to keep a bubble and the illusion of growth intact. We are nearing the end of an economic era. I just hope we avoid hyperinflation, although it is a distinct possibility. Numbers are way worse than reported and getting worse.

What is your prediction for stock market in next 6 months ? Up or down ,how strong ?

[Azrairc]

rentcels on suicide watch

[MNGA1]

I can't blame Trump for wanting to keep interests rates low to keep the momentum going he created. We were barely out of the woods when it came to actual economic recovery from the previous decade and arguably the decade before that.

The real problem is the Fed creating all of the bubbles to begin with though.

You can blame Bush, Greenspan, Obama, Bernanke, Trump, Powell and now Biden. The whole system is rotten to the core.

[katya422]

[mesobuild]

It is obviously because of the pandemic economic irresponsibility.

[MNGA1]

What is your prediction for stock market in next 6 months ? Up or down ,how strong ?

Overall down, fed liftoff to 2% caused a crash in 18, and the economy is now even more leveraged, but They have to do something as the inflation is becoming unbearable for a big chunk of the population, so this time when the markets tank the incentive to stay the course will be there. Rotation from growth to value. Commodities is where it's at now, if Ukraine blows up we could easily top the 2008 price record for oil.

[JeepBruh]

You can blame Bush, Greenspan, Obama, Bernanke, Trump, Powell and now Biden. The whole system is rotten to the core.

Yes, the system is rotten to the core, but I disagree with you on Trump.

The system threw the biggest political chitfest in American history after he got elected. That is how you know he wasn't one of them.

[Maestro]

You can blame Bush, Greenspan, Obama, Bernanke, Trump, Powell and now Biden. The whole system is rotten to the core.

This right here. This problem isn't from 1 person this has been a decades long problem in the making.

and on a slightly different note, if you're not job hopping every 1.5-2 years you're doing yourself a disservice. You've gotta go where the money is and if there is a competitior that pays more you need move on to them instead. Long gone are the days of our parents who stayed at 1 job for 30 years and retired. Measly annual raises is not keeping up with inflation and the general cost of living, but switching jobs which can afford you a $3-5k per year more income certainly does.

Granted this is much easier to do in a larger city.

[friesbruh]

The real estate profession collectively laughs at Zillow, as we did when they lost their *** last year trying to buy, hold and sell for a profit. Just alone in my market, I bet ive seen 5+ homes they sold at a $45k loss.

Whats also going on is people are paying so much for their homes that, to eventually rent them out and not lose their ***, rent has to go up a phuck ton in this market. Probably a bad idea for an "investor" but that is another discussion.

[BigBallsMcgee]

Somethings got to give. Society can't function if so many people can't afford to live

[propreffered7]

Just got a notice this week that my car insurance is going up from $48 a month to $60 a month for liability on a 15 year old Honda.

idk how ive seen nobody make a thread about this. mine went up like 4 or 5 months ago to 150/ month.

my bro has an insurance company and i just had them look at quotes and apparently that's the best offer. i may try to do something myself

i believe that is more than i was paying as a teenager

[r32gojirra]

rentcels on suicide watch

Just two more weeks bro

[BrianDaMan]

supply and demand. there's barely any supply right now. plus all the institutional investors rotating insane 2020 stock gains into hard assets.

[me.]

Zillow estimates are pretty ongoing in my area, very similar to redfin. Hot spots are usually accurate, sorry boyole

[Kraken]

Moved out of the city and downsized out r house just before all of this. Less taxes, lower prices, good people. Drive times are up, but that’s why it’s cheaper to live out here. We traded convenience for value.

We knew things were going to bad once we realized Biden was going to get elected. 8 months worth of food stocked up just before the inflation hit, then invested a bunch of savings in to property. Commodities, dividend paying mutual funds, and food are what will save you now. Much of anything else carries a high risk.

As for property values, the best way to know is to get comps

[ThatGuy950]

[AriesTH]

Didn’t read thread but BC resident checking in. Bought a 2 bed 2 bath condo, 950 sq ft + patio for 460k in oct 2019. Currently work 675k. Renting it out for 2200/month

About 45mins outside of Vancouver. Feel like I’m scamming people charging so much for rent, but it’s foreigners and they’re nice quiet people 🤷‍♂️ Cant believe people pay that much.