https://apple.news/AXx_gZ2uQS7uPYYhl3-tI-Q

I remember saying the cost of homes would raise.

Tge market even retracted in demand. Yet, prices went up.

I also remember President Trump campaigning on the price of housing.

Now, the answer is not high risk. Low down payment loans w inflationary interest rights over the term.

We could start w simply trade policy that does not create more cost to build which pushes buyers to the built market. I know that would just be a start. You know since we get lumber from places like Canada.



https://www.city-journal.org/a...nism%20was%20unclear.

https://thehill.com/business/h...ffs-immigration/amp/

say,
have you watched billions? i recommend it

No.

What is it on?

I will add, that some may take the idea/concept that government should have no role in addressing cost of homes.

I can accept that as a position, but no one in high political office takes such a position.

it's on amazon prime --
yeah, no comment on housing prices - it's a bubble, likely to take a 15ish% correction -- sales times are multiples of norms, price corrections going on, it'll be M shaped, always is

Hey, don’t sweat it - those tariffs will be bringing in trillions of dollars before you know it, and you’ll have so much money you won’t know what to do with it. So much winning, you’ll be tired of winning!

Now, when does hurricane season start down there? Right after the 35% tariffs go on maybe?

quote:

Originally posted by Tumbleweed:
Hey, don’t sweat it - those tariffs will be bringing in trillions of dollars before you know it, and you’ll have so much money you won’t know what to do with it. So much winning, you’ll be tired of winning!

Now, when does hurricane season start down there? Right after the 35% tariffs go on maybe?

2 by 10, 10 by 2? You okay?

Housing to me is one of those core inalienable rights every person should have a fair chance at.

By that im not saying we all have to provide free housing for others, But govt should tke a role in making it realistic.

Over here the biggest problem is the bureaucratic costs. Local govt covering their arse and making things complicated adds a good 30%
There is a case before the court right now where a family said stuff you, we have a right to a house and built without the consent on their own land. I hope they win.
The lefty in me comes out when I see the other big issue we have. Which is mega landlords. Our housing prices are very high and we have a large percentage of homes owned by landlords. I do think it needs addressing with a tax on every extra house a person owns. The rents are higher than debt repayments on owning and its trapping young people in a no win situation.

nothing to do with the cost of lumber yet ...

Well, most of the cost of building a house is labor.

In my experience the biggest cost in maintaining a house is… taxes.

labour and material costs. If we do not count initial land cost.

really the focus should be on what can be done to keep material costs down, and most of what can be looked at is taxes and officialdom.

costs are roughly a 1/3rd each
labor
materials
land, facilities, and permits -

what's driving home prices up? commercial buyers, between zillow and Berkshire Hathaway, and Chinese investors buying a huge percentage of homes, hoping to lease them back

Housing and land prices skyrocketed out here in rural America with all the covid escapees fleeing diseased cites and their mandatory lockdowns/rona shots. I reckon a lot of the real estate pricing still reflects buying a piece of paradise around here.

Just down the road from me is a property now up for sale again because the out of state buyer cannot afford the material to actually build their home. They paid rona pricing for it and spent the many, many thousands putting in a long driveway to the back of it and had the utilities put in. Now they can't sell their hilly cedar infested land at the price they want.

Not an unusual story around here.

Yeah that did have an effect. We lucked onto it when we subdivided our farms just post covid. The buyers were all Urban middle/upper class who suddenly saw the benefits of a few acres in the country. Very fortunate to have a school on the property, which was a huge drawcard. And it wasn't as bad for the other farmers as I feared, and they have now picked up the grazing leases for those blocks as the urban people dont wish to farm but realise the land needs looking after.

My daughter played with her band in a newer housing development in Des Moines. Prices for the homes STARTED at 3600 per month.

Are you talking rent a month wymple, or mortgage rates, and for how long a mortgage?
The single biggest issue here was land price jumps from covid, completely crazy what was asked for and got, per parcel.

quote:

Originally posted by theback40:
Are you talking rent a month wymple, or mortgage rates, and for how long a mortgage?
The single biggest issue here was land price jumps from covid, completely crazy what was asked for and got, per parcel.

Exactly. Memories are very short. While there are a number of factors at play it was the covid debacle that caused a lot of this. That also includes/caused the high price of materials.

quote:

Originally posted by theback40:
Are you talking rent a month wymple, or mortgage rates, and for how long a mortgage?
The single biggest issue here was land price jumps from covid, completely crazy what was asked for and got, per parcel.

Rents. And that was the lowest.

quote:

Originally posted by wymple:

quote:

Originally posted by theback40:
Are you talking rent a month wymple, or mortgage rates, and for how long a mortgage?
The single biggest issue here was land price jumps from covid, completely crazy what was asked for and got, per parcel.

Rents. And that was the lowest.

luditte

Any idea the size? 1000 sq feet?

"Payment buyers" ran up the payable prices based on very low interest rates (budgeting expenses).
People stuck with houses now, can't let them go for less (preservation of capital).
COVID-era money-printing made it possible, but it was baked into the system since at least 2008.

It's kind of a runaway train at this point. We are used to inflation again, and planning on it.

Problem is that people look at their home like it’s a cash cow and future retirement fund instead of looking at it as a home and place to live and die happily
Montana and Idaho became new Cali when it comes to prices of real estate…absolutely insane when compared to regular income

And don't forget, with high home values and higher materials/labor costs come higher insurance costs. Don't forget about those even higher property taxes. What a scam.

quote:

Originally posted by M.Shy:
Problem is that people look at their home like it’s a cash cow and future retirement fund instead of looking at it as a home and place to live and die happily
Montana and Idaho became new Cali when it comes to prices of real estate…absolutely insane when compared to regular income

welcome to capitalism ...

quote:

Originally posted by M.Shy:
Problem is that people look at their home like it’s a cash cow and future retirement fund instead of looking at it as a home and place to live and die happily
Montana and Idaho became new Cali when it comes to prices of real estate…absolutely insane when compared to regular income

I dimly remember land around Glasgow going for $138 an acre at one point before shale oil...

I remember acre for 1k

I grew up on 30 acres. Mom & Dad paid 4k for 18 acres with an old house on it. It burned down in Feb 64, & they built a new one, not a big place, but 3 bedrooms, for 6k. Then they bought the 12 acres across the road for 1500 bucks total. My son owns it now & still lives in the 1964 house, just remodeled it.

quote:

Originally posted by M.Shy:
Problem is that people look at their home like it’s a cash cow and future retirement fund instead of looking at it as a home and place to live and die happily
Montana and Idaho became new Cali when it comes to prices of real estate…absolutely insane when compared to regular income

It's a general cultural change isn't it? I think back too my grandparents and they had two houses in their lifetime. One on their farm, and one in town when they retired at 60. That was it, and they looked after those places.