You just need to stop watching Netflix and buying avocado toast.

At least that's what old people say anyway.

A house in Austin

2018: $275,000
2022: $725,000

Those are actual numbers from East Austin. I believe the 2024 market rate is $625,000 but it hasn't changed hands again so I can't say for certain.

Is this one of the areas where corps are buying up a shitload of real estate?

My lucky ass bought a house in late 2019. I'm happy I'm making money on it but this doesn't seem healthy

I like the utility feed hanging off the front of the house going straight through the roof and blocking them from installing the other fake shutter. I wonder what other construction horrors lurk inside.

Time to eat the rich

Tbh this is more than mildly infuriating...

This is everywhere. I've been looking for houses for 3 months in NW Ohio. 300k is the new 150k, and all the houses are beat to shit on the inside needing 50k just to make them passable inside because nobody takes care of them.

Being able to buy a $200,000 house in the town I live in would change my life so much.

Friend of mine was saving up for a house 5 years ago. Prices have gone up almost 150%

This won't change as long as property ownership and property renting is unified. There's just to much of a business incentive from renting, even if it takes decades to make it back. Worst that can happen is that it can sell it back to a market that criminalizes homelessness instead of treating it or its causes.

About everywhere... In Toronto it's now 1 million+. In Vancouver it's now 2 millions+

This is because venture capitalists are buying all the homes to rent

Not that this is "ok" but it's why "buy whatever you can as soon as you can" is good advice. If you'd put whatever you had into a shitty condo four years ago, and kept saving at the same rate, you'd likely be in good position to trade up soon.

I see a lot of people I know end up in the same position because they've been waiting for either the exact right circumstances or for prices to "crash." All the people i know who started with anything they could afford now have a huge amount of equity in nice homes. The difference is real and primarily about timing more than income or location.

So occasionally I look out of curiosity and the reason is pretty plain.

I look for houses for sale in a suburban area as public listings, and there's like 1 within a few square miles of the area.

I switch over to renting, and there's like 12 houses just like the one for sale available, all owned by companies. I also know a coule that aren't listed that have no tenants, but are still owned by one of those companies. You can tell because those yards are now waist deep grasses (in an area where HOA throws a hissy fit if your yard looks just a smidge unkempt).

Don't know why the companies find it more profitable to buy houses people aren't looking to actually move into, at least at the rent they are willing to accept. If I fully understood why, it might just piss me off more. Like maybe the houses work better as a loan basis than other assets, so even empty and unused they are valuable as some sort of financial trick.

My janky duct tape together house I bought in 2010, that was built in '58 was 98k. In 12 years I sold it at 280k, with it still technically being out of code. My house was the cheapest sold in the neighborhood, some selling for 320k. It's insane.

If it makes you feel any better, that house would sell for at least double that price where I live.

Y'all realize this is a bubble, right? I almost feel sorry for these investors, gonna have their ass handed to them in the coming decade.

It’s the same in Kansas City. I just checked a random house in my city and it’s up almost $100k in 4 years.

3bd, 1bath 976 sqft

A 1200 sqft bungalow near me just sold for 1 million Canadian rubles

Houses in my neighborhood are up 150-200%.