A Boring Dystopia

9509 readers

485 users here now

Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.

Rules (Subject to Change)

--Be a Decent Human Being

--Posting news articles: include the source name and exact title from article in your post title

--Posts must have something to do with the topic

--Zero tolerance for Racism/Sexism/Ableism/etc.

--No NSFW content

--Abide by the rules of lemmy.world

founded 1 year ago

MODERATORS

[email protected]

312

Housing market affordability is so bad that Zillow says it will take you 13.5 years to break even on a purchase from July onward (finance.yahoo.com)

submitted 10 months ago by [email protected] to c/[email protected]

47 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 16 points 10 months ago (8 children)

When will the bubble burst?

[–] [email protected] 17 points 10 months ago (1 children)

I wonder this too, but I'm coming to believe that as long as investors are throwing money at housing and people need it, it might not burst. With enough wealth concentration, maybe it just all gets progressively bought up and rented out at insane prices, with growth coming from speculation among massive institutional investors.

But I haven't really thought of this deeply or looked into whether it's sound.

[–] [email protected] 4 points 10 months ago

This is what you're seeing now where mega corps are buying up trailer parks and all the low end housing. Theyre cranking up the prices on these to justify cranking the prices on the mid range stuff and so on up the $ ladder.

There are no more low end housing being built anywhere. It's all 350k and up being built.

Thats the main problem really. The shitty stuff got priced where mid stuff used to be and there's no supply for first time buyers to use to build equity.

load more comments (6 replies)