why are houses so overpriced?
>>1157010
They aren't, you are just poor.
>>1157010
Banks bought all of them from desperate dying old people who needed pill money. Now they can charge whatever because they own all of them.
>>1157018
>not overpriced
>>1157022
what is inflation
because people are willing to pay those prices and people that sell houses arent going to sell them for less just to keep the prices low.
>>1157010
Tech+housing bubble. 2001 and 2008 combined.
>>1157010
Combination of a few things..
>artificially restricted supply by government regulation
>perception that houses generate a guaranteed return on investment
>banks letting people spend 30 years of income in advance
The last two drive up demand, in terms of dollars people are willing to spend on a house and a bidding war ensues
In fact houses are not a guaranteed investment and this perception combined with easy credit leads to a ponzi type scenario where each round of house buyers is financed by the next round and so on, until either bank credit dries up or public sentiment about the sureness of housing turns south and the whole thing collapses, leaving the last round of buyers fucked.
>>1157010
Check the price per square foot. Its not nearly as bad as it looks. Houses have gotten way bigger.
>>1157073
also , foreign investment
>>1157044
>confuses deflation with inflation
you faggots shouldn't be allowed to breath the same air
>>1157073
Food, water, shelter. Sound investments and all ripe for price fixing. The Machiavellian age, too many chimps, not enough bananas.
>>1157010
Not sure where you are, but here it's all about the land the house is on.
Worth six times as much as the house, in my case.
They aren't overpriced in my area. Owning with a mortgage is comparable or even cheaper than renting.
Depends on the area, remember, all real estate is local
>>1157010
>why are houses so overpriced?
Idk I heard it has something to do with "supply" and "demand". No idea beyond that tho
in my area, new townhomes are going for almost 250k. cucksheds are literally going for 100k. literal fucking cucksheds.
>>1157432
Lol
>>1157434
You should buy one for yourself and let your wife's son live in your current home.
Because assholes outbid real people at auctions, pay some Mexican $5k for a little work, and then try to flip them $75k more. The properties get shifted around until they're demolished for a tax handout or end up in the possession of a jew landlord. Jew landlord charges rent so high that other flipped dumps look "cheap" and the cycle starts all over again.
>>1157010
More and more people buy housing for investment than actually living in
This drives up demand and the price
