Go ahead, vote MAGA in the midterms if you’re curious how fucked your life can get.
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.
Fuck that sonofabitch. When he finally dies all his assets should go back into the national treasury to reinstate the department his little Nazi lapdoge cut out
Per usual, read the article and not just the headline.
Sounds like he’s taking 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.
Why should I care about someone’s equity? Houses are for shelter and privacy. Why do we treat them as investment vehicles?
My car doesn’t become more valuable as it ages. Neither does my computer, or my clothing, or anything else. If they want their home to become more valuable, they should invest in improvements to it, not just depend on all houses getting more expensive for everyone else forever. It’s a ludicrous, unsustainable idea.
To strike a balance, home values should go up at the same rate as general inflation and/or wages (ideally the latter, really), or at least stay the same over time.
You really don’t want to find yourself in a situation where you need to sell and you’re underwater. At the same time, they obviously shouldn’t be the investment vehicles they are now.
Also some people use the equity from home appreciation to take out an extra mortgage for improvements. I don’t personally think it’s a great idea (as it can put you under water if the market takes a wild swing), but it’s something people can use to get a cash injection for potentially expensive home improvement work.
Appreciate the nuance, though I think that “house as equity” thing should definitely be dismantled, at least over time.
House is a place to live, period. The rest is a fucked predicament we found ourselves in thanks to big investors.
But yes, first house should be made super accessible, and any subsequent ones could be sold for a major markup.
I usually do not waste my time reading articles with sensational headlines like these. If it were not for your comment, I would have ignored the entire thread.
Housing should become regulated infrastructure and stop being speculative assets. Fuck the real estate sector
Why stop there?
Guarantee housing with a housing stipend and impose massive taxes on additional priorities.
How about this: rent should be abolished, housing prices should be controlled through a planned market economy, and property should be taxed through a land value tax. It’s time that Americans see the cat.
You mean additional properties?
I do.
Donald Trump never had to work for a house.
Orange monkey doesn’t pay for housing, transportation, medical care, etc…
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.
Some people just love eating shit sandwiches… It’s their kink.
I have come to also realise that there are a lot of people with below surface level understanding of who or what they are voting for. I assume going through their lives blissfully unaware of the current shit show.
Otherwise intelligent people (in my orbit UK based) think Trump is doing okay because he’s tough on China and China is not our friend. Seemingly absolutely no awareness of how fucked up America has become in under a year and what that means for the UK I side eye them still, as I wonder if there is more going on there views wise.
Just leaves me thinking those fuckers from Reform will get in because Farage likes a pint down the local Wetherspoons.
Oh no. lemmyshitpost is leaking.
As long as there is someone eating a BIGGER shit sandwich, they chomp happily.
Ask a Trump supporter why they want higher property taxes.
They don’t even see the connection between high property taxes and their militarized local police forces that gets the new shiny stuff each year.
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!
But have you tried being born rich? A trust fund to protect you from most of humanity that has to deal with the shit end of capitalism, maybe leverage a little of that wealth to get control over systems of economy and legislature.
I’m basically a slave.
That’s the goal. Whatever keeps workers working is what the ruling class will force upon us.
It’s why we never invested in fusion energy. Expensive fossil fuels keeps people working.
I saw people on the Reddit conservative sub saying “100 year mortgages are actually pretty good, they offer a lot of flexibility”. Madness.
Oh, those poor idiots. Flexibility + housing (+ too good to be true) is how we got into a housing crisis in the first place.
Hahahahaha! This is so unbelievably fucking ridiculous.
All while they’re crying about the falling birth rates.
Glad I got sterilized, there’s just no fkn way I would wish this on anyone else if I can help avoid it
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Same here. The only winning move is to not play.
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.
There’s like a 50 percent chance he’ll be dead by the time it really starts.
Crashed economies hurt the poor. The rich use their wealth to buy up resources, realestate, stocks, etc. on the cheap and then ride it out in their luxury homes while the rest of us stand in the bread lines.
Which only works until you tank the country by pissing of your customers (aka other countries) enough and tank your currency.
Everything en route!
The wealthiest people in the world already essentially do not experience borders. They regularly travel without passports or customs checks, live for extended periods in multiple nations without visas, they are essentially the proverbial citizens of the world. If the US falls and the dollar is wiped from the face of the Earth, they’ll have all of their money in European stocks, Asian currencies, and Middle Eastern real estate as they watch the collapse.
What hes aiming for is destabilization.
He’s already talking civil war.
Which I think is his ultimate goal. and the goal of his masters.
Civil War 2 on a horrific scale, that knocks America out of any meaningful global position for years, if not decades afterwards.
It will take a bit more time. Enough time that when the next president steps in, the aftermath will really show. Then this egotistic maniac will point at that president and blame them. Never him fault, according to him.
But that’s narcissism for you.
They said run it like a business.
That’s what he’s doing: he crashed most of his businesses.
This is a very Merz thing to say.
“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.Shit not even finding the little children. He had Epstein for that part of it.
Probably also the child beauty pagents where he had dumb parents personally bring them for some reason
He’s profoundly ignorant because he beat up some dweeb to do every single piece of homework he was ever assigned.
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.
In that case the orange buffoon should have to pay the highest taxes.
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.
If the $550k this place is worth on paper buys us something that would have cost $245k in 2010, we haven’t gained anything.
Mmm, no.
300 fucking thousand dollars is still 3000 fucking thousand dollars.
You could buy a shitshack and still have a place to live. Hell, you could even get scammed renting like a moron and you still would have made money.
You know who it is good for? Boomers who are selling their big houses to go live in a condo or nursing home. Guess who votes for this shit.
Also good for people who want to flee the US before the bubble pops.
We absolutely want to, and if having money was the only barrier to doing so, we’d sell in an instant, but unfortunately it’s simply not an option for a lot of people
What’s the plan, if not welcome in the new country? Or it’s invaded by the US?
There’s plenty of countries (in Europe or elsewhere) where Americans are still welcome. Here in the Netherlands we have quite a American community and we like having them, as long as they’re not maga crazies.
For me it’s not even a matter of who is accepting of Americans, but who will allow me to move there. I’m an “uneducated” factory schmuck and the vast majority of countries have some professional or monetary requirements I can’t meet :(
Japan lets Americans come, visa on arrival. If you want to stay longer than 90 days, you can start a business, you have a lot of leeway here, and loans are pretty cheap, like 8% for foreigners, <4% if you’ve been here awhile. Huge foreign community can guide you when you get here.
If you’re in your 20s, you can get a working holiday visa and work for any company that will hire you.
You can’t just step out for an hour and reenter like with China, Japan doesn’t like visa-runs.
With China, you can get an L(tourist) visa and make a visa-run every 90 days (60 if you applied outside USA), or M visa if you plan to start a business.
The China visa process kinda sucks, dm me if you need help.
For vietnam, you can go there on a 90 day evisa, and if you’re white, a fake college degree can have you working as a fake English teacher at a fake English school.
And if the US decides to invade, what will the person I asked the question do?
Importing the crazy to your country. Americans are just sick they have their fairy tail founding and the we are the god given people complex.
Overly broad generalizations are not helpful. In any case, the Americans likely to leave are not the idiots who voted the fascists into power.
If no one can afford the boomer homes, the houses stay unsold so there’s a balance when trying to maximise profit.
As mentioned above, that’s fine for investors actually. They don’t want individuals buying homes. They want people renting them. Across a long enough period, renting will be more profitable so they are happy to buy them up even if your average person can’t afford the mortgage.
Why is this becoming so acceptable to Americans?
Because the people who don’t accept it don’t have the power to reject it. We are owned by billionaires and our system is corrupt to the fucking core.
Boiling frog.
Remember, when Al Bundy and Homer Simpson showed up, they were considered ‘middle class.’ Homer had a house and two cars, his wife stayed home. That was normal.
In 1960, minimum wage was $1.00/hour and the average US home was $11,000.00. At that time, $1 million was a vast fortune. Nowadays, $1 million is what a rich guy pays for a party.
A honeycrisp apple costs over two fucking dollars. Five years ago it was fifty cents. Not fifty years ago. Five. Small, but entirely emblematic of the problem.
Don’t get me started on luxury inflation.
Look at things like the prices for live sporting events and concerts.
Back when The Beetles were the hottest band in the world, teenagers were buying their own tickets.
Middle class folks used to be able to splurge once in a while and get the best of the best. Now that stuff is beyond the reach of mere mortals
Mmm I don’t know about this one, I worked at grocery stores 15 years ago and fancier single apples were around $1.50.
And, you know, US Presidents whose families own real estate empires.
Exactly.
Our home has doubled in value in the last 7 years, but life would be better if it had’ve stayed at the same price.
We’re lucky enough to have somewhere to live but as a community it really sucks that its so hard for so many people - the rental market is just awful, inhumane even.
God forbid we want to buy a bigger home with some more room for the kids - upgrading just cost twice as much.
My parents are boomers and have been beneficiaries of the eternal increase in property values throughout their lives. They’re in their 80s and really need to retire, but can’t really afford to. Increasing property prices aren’t really good for anyone.
Don’t for get the higher insurance rates as well.
This is something that has baffled me for a while when I see or hear people talking happily about their home value going up or talking about their house as an investment and get mad at the thought of a drop in home value. Even if these people never sold their house, if home prices keep increasing faster than wages, then at some point they won’t be able to afford the taxes on their home. I just don’t get it, smh.
Same here. We bought our modest house and have been slowly updating it. But we never plan on moving unless we absolutely have to. So I don’t need or want it to increase in value. The value is it’s my home.
What you do gain is equity. And while that equity can’t be used to pay for a new house, it can be borrowed against cheaply.
A second mortgage, such as a home equity loan or a home equity line of credit, means you can use some of that value in your house for big purchases or projects without the higher interest rates you would pay for other types of loans or a credit card.
It’s one of the reasons home ownership is financially superior to renting, even if your monthly payment might not be that different. Owning property has inherent value.
Absolutely the biggest scam ever.
My parents bought their house for $159,000 in the late 90s.
They are still in that house. Guess how much is left on their mortgage balance? $350,000.
Why? Because of cash out refinances and HELOCs.
They should be retiring soon but they’re not, because people like you said these equity loans are good.
They’re not. These are terrible ideas. Do not EVER take out the equity of your home.
I have a mortgage payment already, and groceries have tripled in what feels like a year and a half. My property taxes went up $200 a MONTH this year. What makes you think I’m in a position to make more fucking payments?
Equity is a fucking scam, brother.
