Ask Lemmy

As long there is no Mass Genocide and Mass Death of Owner,the only possibility would be a to high Interest Rate that forces home owners to sell.

All the Possibilities

Yes. Housing prices have always crashed about once a decade, ore or less. Also prices tend to plateau for 10-15 years until Incomes catch up. I don’t see why this won’t continue to happen

The only difference is this time we have clear lack of supply, along with impediments to building more housing in places people want to live. There’s a profit incentive to building more and I wouldn’t bet against overcoming those obstacles. Money always wins

Not unless we reduce the amount of red tape necessary for new construction. A market with super high housing prices should naturally correct itself as those profit margins attract new investment, but we clamp down really hard on new construction via nimbyism and over precise zoning laws.

I know parking lot minimums make it hell for new stores to be built, but does it also affect mid- and high-rises? Because that would fucking suck if that’s another reason it’s hard to make affordable housing.

No I don't think there will be a crash. I think we might see legislation meant to help affordability become a topic in the 2028 presidential race, when Trump and Biden are definitely out of it so there's a cluster of low-education populist voters in swing states who become swing voters, and the replacement options are decades younger and they will want fresh ideas to be at The forefront of their campaigns.

No. We won't be able to solve the problem because we refuse to believe that viable solutions are any more complicated than "put person in house".

Straight up house prices? Yes.

As soon as people start thinking prices can only go up, housing has dropped. Over and over.

Affordable overall, including insurance and maintenance? No, we have never had that, and probably never will.

People talking about societal collapse here, look at the past. It was worse. We have come forward not backwards, overall. Sure it looks dire, but really, would you rather live in the past? Like maybe, if you are a rich white guy, but if so you are probably doing ok now too.

Not without changes in zoning codes, so no.

Yes and the best thing you can do is get ready for it. Don't give up and wait for something to happen before you start preparing. Save your money now and when prices drop you're ready to strike and get what you want quickly

I'm not sure. I don't really believe things will get better, as they only seem to get worse as time passes. I'm a 3rd worlder...

Not only no, but you better get a burial plot while you can afford it.

I’m hopeful

No.

Either the housing market will crash after some new laws are applied that specifically target landlords.

Or the price of buying houses will catch up with the cost of building them.

When either of those will happen, I do not know.

If we have affordable housing, that would lower the prices for landlords, and we can't have the leeches hurt

Eventually we are going to realize that not everyone is going to be able to have a big yard and a big house with 3 cars each. Something has to give and I think it is going to be zoning laws. So while people might be able to afford "housing" again at some point in the next 50 years it is going to be more like a shack than a house.

When climate change gets bad enough that the world goes mad max there will be plenty of houses to choose from. That's assuming the SHTF in your lifetime and you survive.

Aside from that, no.

Depends if the next pandemic kills 50% of the world's population.

It's all based on supply and demand. There is not enough housing for everyone to have one at a price they can afford. The price depends entirely on what the wealthiest buyers are prepared to pay, or rather what a bank is prepared to lend them. It is nothing to do with how much the land or bricks and mortar are worth.

The only way you'll get a price drop is if the amount of properties go up or the demand drops.

We've had long periods of <1% interest rates. We've normalised 40 year mortgages. We've invented "shared ownership" schemes and "help for first time buyers". None of this has bought the prices down. It's done the opposite and blown them into the stratosphere.