House Prices: Why are they so high? (property tax, money, property)

[tallrick]

Just stop the money printing and let the economy stand on its own. The Chinese money is actually dollars created by the Fed and banks, used to buy Chinese crap and coming back to destroy your way of life. Until you end the Fed, your living standards will continue to decrease. d

[ContrarianEcon]

Originally Posted by Hemlock140

Raising the minimum wage won't help, because the housing prices will go up as well and remain out of range for those workers.

Basically that is the point. Falling house prices sucks bad. House prices going up not so bad. But for house prices to go up and stay up you need higher wages. How to get that is with the minimum wage law. I'm talking $30 an hr.

Originally Posted by Hemlock140

One example is the laborers on a construction site for new homes. Their wages go up, so does the price of the home.

Ya but if you drive wages with too much debt everyone is worse off. If you drive wages higher with the minimum wage law then you reduce the effective debt burden.

Originally Posted by Hemlock140

People making minimum wage cannot expect to by a house, even with a couple both working at that salary.

If you up the minimum wage far enough for a short time they can. but house prices going up and staying up is what is needed.

Originally Posted by Hemlock140

We bought our first house after I had a good promotion, the difference between amount of our previous rent and the house payment with taxes and insurance was more than covered by my raise.

This is not about minimum wage workers becoming home owners. It is about getting the economy to expand and keep growing. It is about restructuring our debts as a nation.

[texdav]

e haven't built much for over 5 years and land is not increasing. The materials to built have not gone down. Then because less and less will qualify for mortgages under new federal laws to get even tighter with Dodd/Frank investors are buying homes to rent as renters will increase. Geithner in his first speech said the aim was to get back to near historic level of 65% ownership of home from low 70%.30 year fix rate mortgage insured by government is likely to disappear in time also. Between seeing Dodd/Frank lending standards coming and investors snapping up homes people got to buying. I know several who by time investors got in market heavily had to build because they couldn't find anything they wanted left.

[gen811]

Originally Posted by John-UK

House Prices: Why are they so high?

High house and land prices are a very bad thing.

because the stupid people bought them and declare bankruptcy
and banks want to keep prices up so they can fake it.

therefore they will destroy the housing just to keep prices high.
as we speak more and more housing are being destroyed just to keep prices up.

and we are having ghost cities en-mass just like China

so it seems USA wants to follow the CHINA construction model

"if you build it they will come"
"if you build it they will come"
"if you build it they will come"

in the mean time wait.

[gen811]

Originally Posted by Hemlock140

Raising the minimum wage won't help, because the housing prices will go up as well and remain out of range for those workers. One example is the laborers on a construction site for new homes. Their wages go up, so does the price of the home. People making minimum wage cannot expect to by a house, even with a couple both working at that salary. We bought our first house after I had a good promotion, the difference between amount of our previous rent and the house payment with taxes and insurance was more than covered by my raise.

the problem is that the laborers have no MEANS OF PRODUCTION.
if they didn't rely on the money changers for the means of survival then their power diminishes.

as you should know one of the PRIME reasons why PC gone down in prices so much was because people started hacking together their own systems.

as a result much more knowledge went into the hands of the people and they can just build their own if the prices WILL not go down.

WE OURSELVES ARE DIRECT competition to corporations if we can also produce it.

therefore the MORE DECENTRALIZED something is the cheaper and better off the people are because we are the competition in a capitalist economy as well not just businesses.

THIS IS WHY
businessmen/lawyers retailers and politicians
love the property zoning laws to hold back construction by regular joes making obscenely expensive.

eg tiny home revolution now

so start cranking.

when people start refusing to pay rent and instead use tiny homes/trailers etc instead then they have a major problem.

actually it is already happening.
what will they do next more laws forbidding tiny homes?

Most likely and then there will eventually be a mass uprising or mass amounts of people will leave.
and those that will stay will be slaughtered by the government crimson army

for not paying property fees for just living. like a good slave.

anyway tiny home people should be aware that governments do not like them as they receive little to no revenue from them and see them as an eyesore.

careful responsible friends carry on and innovate. refuse debt slavery.

[mayorofnyc]

High home prices was mainly due to the government inflating a housing bubble with artificially low interest rates and risk-free mortgages which allowed banks to lend recklessly and spike a demand in housing that was unsustainable. Ironically the whole catalyst for this was the government wanted to do something to make housing more affordable for Americans.

[gen811]

Originally Posted by mayorofnyc

High home prices was mainly due to the government inflating a housing bubble with artificially low interest rates and risk-free mortgages which allowed banks to lend recklessly and spike a demand in housing that was unsustainable. Ironically the whole catalyst for this was the government wanted to do something to make housing more affordable for Americans.

ACTUALLY to make housing affordable was a RUSE.
the truth of the matter is they wanted to raise home prices such that they can tax people more.

higher prices = higher tax revenue.

to make it affordable = a total joke.
but maybe some people actually thought that was the truth

[Huckleberry3911948]

bek the government forces banks to do bad loans (civil rights issues) and then bolsters them thru bonds buy ups done by federal reserve with imaginary money. the banks are holding huge inventories of homes off the market bek to put them all out there at once would cause prices to crash. they are not even processing the foreclosures that they have done.
its a scam at tax payer expense. they are giving house loans to people working at star bucks pte.

[texdav]

If you can't foreclose; you can't sell the bad loan house. But five years of little building leaves a shortage still. Perhaps take a look at foreclosed homes five years later with no upkeep. Cities are tearing them down has uninhabitable. 2008 to 2014 have tuned many in legal battles to uninhabitable. Many cities like Detroit are selg them at low price if you want one that is left.In most cases al you have to do is prove you have cash to rehab.

[mayorofnyc]

Originally Posted by gen811

ACTUALLY to make housing affordable was a RUSE.
the truth of the matter is they wanted to raise home prices such that they can tax people more.

higher prices = higher tax revenue.

to make it affordable = a total joke.
but maybe some people actually thought that was the truth

Pretty much. Governments love bubbles