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Old 06-18-2017, 07:22 PM
 
199 posts, read 125,483 times
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IMO: High cost f housing and rents a result of supply and demand due to manipulation by banks and government. Do you agree or disagree- and why?
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Old 06-18-2017, 07:45 PM
 
Location: Florida
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The real estate/ construction business virtually died, and now it is playing catch up. We need less govt involvement and an end to "mega banks".
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Old 06-19-2017, 08:13 AM
 
Location: SW Florida
9,095 posts, read 3,918,635 times
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In my area of Southwest Florida, the rents have had the largest increases in the nation (according to news sources). Around here they blame it on the large amount of foreclosures back during the housing crisis which caused people to lose their homes, ruin their credit and force them to rent. Plus we have too many people moving here and not enough places for them all to live.


I am seeing some new apartments being built that are going for over $1000 a month for a studio or 1 bedroom when in 2009 apartments were giving all kinds of incentives to get you to move to their place. I was paying $540 for a large 1 bedroom back then. Yes, I realize that was 8 years ago but this area has never seen the kinds of rents that we are seeing now. To make matters worse, the older complexes are hiking up their rents to "market value" so even living in an aging complex isn't going to be much cheaper than renting from one of the new places.


Thankfully I will be a homeowner soon and I can stop worrying about the constant rent hikes.
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Old 06-19-2017, 11:57 AM
 
Location: TOVCCA
8,270 posts, read 10,506,470 times
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There is no shortage of housing in most of the US...just in the most prosperous cities.
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Old 06-19-2017, 03:58 PM
 
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Idk, but it seems like almost every market is a "hot" one. I don't know how that's possible.
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Old 06-19-2017, 04:20 PM
 
Location: The Triad (NC)
26,831 posts, read 57,830,396 times
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Quote:
Originally Posted by nightlysparrow View Post
There is no shortage of housing in most of the US...just in the most prosperous cities.
^^This.

Find a way to move bodies from the busy cities to the slow areas.
Start with the unemployed.
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Old 06-19-2017, 04:28 PM
 
Location: On the Great South Bay
6,810 posts, read 9,368,651 times
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Quote:
Originally Posted by inquisitive2 View Post
IMO: High cost f housing and rents a result of supply and demand due to manipulation by banks and government. Do you agree or disagree- and why?
High cost for housing and rents a result of supply and demand due to population growth, a big part of which is due to excessive immigration.

United States population

1980 - 226,000,000
1990 - 248,000,000
2000 - 281,000,000
2017 - 324,000,000

That is a 100 million increase in less then 40 years.

But you won't hear about this by most of our politicians, big business or our corporate media. Screw future generations and the environment, there is to much money to be made by keeping things the way they are. No matter what the costs.

https://en.wikipedia.org/wiki/Demogr..._United_States
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Old 06-19-2017, 05:28 PM
 
Location: USA
7,456 posts, read 5,443,088 times
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Immigration alone does not explain it, nor do simple population increase numbers:

https://en.wikipedia.org/wiki/Demogr..._United_States

1940 Population = 132,164,569
1960 Population = 179,323,175

That's an almost 50 million increase in 20 years - the same rate as in the last 40 years shown in the previous post against immigration. And yet, housing was very affordable throughout that period, one that's considered the "golden era" of the last century in America.

The bigger problem is a general reduction in the quality of jobs and people's incomes vs. housing prices, along with many financial games used to prop up housing prices. You have everything from flippers, foreign investors, banks still owning piles of foreclosures that either rot away or become rental properties - and that doesn't include the "funny money" nonsense of the Housing Bubble.

The problem isn't "too many immigrants" but too few places with good jobs - this is why the price disparity in housing in places with jobs vs. those without has increased so badly. Top that off with endless middle-men jacking up the price of homes - like "house scalpers" - aka, flippers - who buy up piles of homes using financial tricks and other people's money just to increase the price by $50,000 for putting $20,000 into the home, and it's no wonder affordability sucks.

Until jobs improve AND are more common around the nation, and until the damn flipper-mindset - "everyone can make big, easy money in real estate!" - dies, this problem will continue. Oh, and the big banks need to be kicked in the nether regions for their part in all this, since they are the ones who profit the most from unaffordable housing and locking everybody into a lifetime of renting their home at a high price from the bank.
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Old 06-19-2017, 05:42 PM
 
Location: The Triad (NC)
26,831 posts, read 57,830,396 times
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Quote:
Originally Posted by Rambler123 View Post
Immigration alone does not explain it...
It doesn't have to.

Quote:
...nor do simple population increase numbers:
And they don't either.
(you need to drill down into the demographic categories for the real answers)

Quote:
The bigger problem is a general reduction in the quality of jobs
and people's incomes ...
...doing those remaining jobs balanced against the population increases since 1980ish
(as those jobs were clearly being eliminated).

We made too many replacement workers for jobs that were being eliminated.

Quote:
The problem isn't "too many immigrants" but too few places with good jobs...
Nope. It's having too many people vs the jobs available (good or otherwise)
But especially so at the no and low skill end of the employment spectrum.

Quote:
Until jobs improve ....
Nope. That ship has sailed. Both in quality as well as quantity.
The remaining problem is the underlying surplus of people.
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Old 06-19-2017, 05:57 PM
 
Location: USA
7,456 posts, read 5,443,088 times
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Quote:
Originally Posted by MrRational View Post
Nope. That ship has sailed. Both in quality as well as quantity.
The remaining problem is the underlying surplus of people.
Except it isn't. We had the same population rate increases during the "golden years" Post WW2. The problem is not the people, be it their numbers or their demographics, but the job market itself, and that's one of global wage arbitrage.

Keeping immigrants out and the population from increasing does not magically produce an affordable housing market or great jobs. Look at Japan - they fit that description wonderfully, and still have horribly unaffordable housing and terrible competition to get decent jobs.

No, the problem is as I outlined: too few good jobs in general, too few places with good jobs (huge swathes of the nation have affordable housing - and no jobs that pay enough to live there), and too many financial games being played with the housing market. Getting rid of the immigrants will fix nothing, and I've seen enough of that silly notion on the political forums: I don't see Americans lining up to become migrant farm workers at under minimum wage, and even if they did, they won't be able to afford a house on that salary anyway.
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