politics

Here's the thing that I think a lot of people don't understand about home ownership: Housing prices going up is only beneficial if you plan to sell.

We were (very) lucky and were able to get in on the tail end of the early 2010s housing crisis and leverage the first-time homebuyer incentives that were offered at the time to buy a modest house. It cost $245k. It's currently worth $550k, and people seem to think this means we made $300k in profit! Yay us! And technically, on paper, sure, we did, but in reality, no.

Housing prices across the board are up, and we still need a place to live, so if we sold this place, we'd have to buy something else (at the same grossly inflated prices), or we'd have to rent (at grossly inflated prices). If the $550k this place is worth on paper buys us something that would have cost $245k in 2010, we haven't gained anything.

Either way, we have no intention of selling, so we will never see a cent of that increased value. What we are seeing, however, is increased property taxes since the property has, on paper, doubled in value.

What I'm getting at is, this doesn't benefit homeowners, it benefits housing investors, who are the group Trump really wants to prop up.

He is setting USA up for the worst economic crisis in history.

The biggest, the best, the most beautiful financial downfall the world has ever seen.

"Who didn't work very hard"
Says the obese orange paedo that has never worked a day in his life.
The only thing this fat tub of corruption ever worked hard at was finding and raping little children. Sweaty cunt.

Says the laziest person on the planet.

It's OK guys, I'm planning on buying a home later this year. Knowing my luck, property values should plummet sharply shortly after I do that.

LOL, I cannot wait until I have my next IRL conversations with the more-leftist-than-thou dumbasses that sat out or voted third party and the Enlightened Centrists that voted for Taco because they fell for the right wing/Russian agitprop that Biden's economy was so terrible and/or that Kamala was genocidal and/or something something "gerontocracy".

JFC.

I worked my ass off. Now I can pay for a place to live and keep paying it off no matter what for 30 years. No matter what? Yeah anything happens to me, that means my family looses their house for life because they are too young to work now but not having a house will make it harder for them to ever get one.

I'm basically a slave.

Now if I were to sale my home, then I could probably afford to buy a smaller house and keep paying even more! Yey! That's how math works right? You get 10 dollars for your house so that you can buy half that house for 11 dollars! Yey!

I hate him.

My dream is to be a homeowner and it's slipping away faster than I can chase after it.

I fucking hate him so much.

vote MAGA in the midterms if you're curious how fucked your life can get.

Or don’t vote. Again. Either will have the same effect.

Hahahahaha! This is so unbelievably fucking ridiculous.

All while they're crying about the falling birth rates.

Ask a Trump supporter why they want higher property taxes.

Donald Trump never had to work for a house.

Housing should become regulated infrastructure and stop being speculative assets. Fuck the real estate sector

If only salary and net worth would be tied to the actual effort made at work.

Almost all CEOs would be homeless.

Soon there will be a critical mass of people who have nothing left to lose. Thats why the Republicans and Democrats need a secret paramilitary police force in the streets. If they don’t quell uprisings and arrest activists (i.e. “domestic terrorists”), the citizens may gain enough momentum to enact another New Deal, and the wealthy benefactors of both parties will do everything they can to stop that from happening.

Per usual, read the article and not just the headline.

Sounds like he's talking about banning investor purchases of single family homes. Which is a good thing.

I fucking hate Trump and he's wrong about pushing housing prices higher, but banning investor purchases of homes is the right call, so he's kinda right.

Also, crashing housing value would destroy anybody who has invested in their home as equity. What needs to happen is a leveling off and investment in cheaper starter home builds, as well as a push for first time homebuyer loans that are low interest and up front down payment.

I bought my first home on a HomePath mortgage. No PMI, 5% down, and reasonable interest rate that was only a bit higher than a traditional mortgage.

Getting people into their FIRST homes and making sure they aren't beat out by cash offers from investors it's the correct way forward.

Honestly curious to see how this pans out. Trump's polling still seems higher than it should be given the shit show he's presiding over.

Here in the UK, we appear desperate to touch the Reform stove. I despair.

Makes sense if everybody's dad can give them a million or so to get started. Trump worked very hard to get that million from his unloving father, so I get it. /s

I feel sad for the young people that voted for him, but maybe they’ll learn something from this. 

What a shite take from the man who has no sense of real-world costs.

The price of a house is roughly, give or take, about one house. People might trade up and supplement the difference or have had savings from between purchases, but that initial upfront, first-time cost is the hardest one. It's not a grand difference of space between rungs on the ladder, it's that more and more of the lower rungs are getting actively broken off for the benefit of those with a surplus to sell.

Scum.