Update: Vice President Kamala Harris is now the Democratic presidential nominee

Politic Negro

Rising Star
BGOL Investor

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praetor

Rising Star
OG Investor
The comment about corporations buying single family homes is what is driving up the housing market

That is part of the reason…

Housing is going up because we havent been building shit in the last 10-15 years.

Since 1970, we built 10-15M houses per decade but that dipped for the first time in 2015 and halved by 2019 and by 2030 we are on track to build less than 10M houses in this current decade if we continue the same trajectory. Wait let me rephrase that, may be less than 5M which if nothing gets adjusted. This is the major reason.

True: Corporations have been buying up the supply establishing a monopoly in the market but we haven’t been building shit far below the rate against the previous decades. There ain’t enough supply for sale, that’s what’s really driving the prices.

I disagree.

NEW builds are going up EVERY fucking where... even in DETROIT.

They are starting to build multifamily units using containers now.

I have been kicking around in the real estate market fo a while, bought two houses, paid cash, one in the D, the other in the Pointes.

My 2 fam cost $75k about 8 years ago. I sold it for more than double less than 4 years later. 4 years after that...well just go to realtor.com and look for multifamily houses in 48230.

My first house, in Detroit, I bought for less the 15k. That was 2008-9...during the housing collapse.
I personally SAW a chartered bus, full of Japanese entreprenuers, stop on my street on the east side, and go roaming around the neighborhood looking for deals.

I sold my house to a guy from Europe. He literally flew in and bought 6 houses in Detroit, one of them mine. Houses, buildings ...all that shit was going LITERALLY for pennies on a dollar.

The agent for the buyer of my Detroit house told me "you are about to witness the biggest land grab in American history, since the genocide of the native population" (I am paraphrasing.)

I had NO IDEA WTF he was talking about.

Now I know.

Just to add to this discussion, as HeathCliff said, housing supply has been on a downward trend since the GFC. The thing is though, the issues with supply aren't just a lack of construction, it's also a lack of foreclosures.

NINJAs (no income, no job or assets) can't buy homes anymore, so foreclosures are at the lowest levels ever and that means less supply hitting the market.

As far as institutional investors, they are a problem in certain areas like Atlanta, but nationwide they are tiny portion of the market. Even in Atlanta, mom and pops still own more SFH investment properties than all other investors combined.

Some of those institutional investors also took huge loses as a result of holding the bag in 2022.

The pandemic also caused a huge surge in the prices of the building materials for homes, which got rolled into the price.

On top of all that, the lock in effect due to high rates also means an unusually large percentage of houses on the market are new construction. The builders keep prices high by offering rate buy downs rather than price cuts. They're laughing all the way to the bank.
 

Costanza

Rising Star
Registered
This shows your “not one of those Arabs” line to be disingenuous, as I stated. Are you married to an Israeli? Why do you hide your pro-Zionist bias and use pro-blackness as a cover?

Kamala rides for Zionists 100x more than black people.
Liz Cheney would never.
You really identify with her. Says a lot.
When leftists attack Dems more than Republicans do says even more. Just admit Cheney is WAY more dedicated to seeing Kamala win than you socialists are. I don't know why it's so hard for you to admit the obvious.

You’re shifting the argument.

Kamala will win the progressive vote and lose the Republican vote badly so that’s a stupid ass claim.

And all Cheney is is anti-Trump. When it comes to her actual agenda, socialists are critical but far more supportive.
 

Big Tex

Earth is round..gravity is real
BGOL Investor
You’re shifting the argument.

Kamala will win the progressive vote and lose the Republican vote badly so that’s a stupid ass claim.

And all Cheney is is anti-Trump. When it comes to her actual agenda, socialists are critical but far more supportive.

And yet what I said is still true. What Cheney understands that you guys don't is that winning this election is more important than any of your causes or crusades. Cheney knows she will have 4 years to criticize Harris, but right now what's important is to go all in on winning.

Not shitting on Harris and saying how you will reluctantly vote for her anyway.

But then you guys don't know shit about winning elections.

You keep proving what I said to be true. You can't help yourself.
You shit on Harris in this very thread and then point out how you leftists will vote for her. Only to leftists is shitting on your candidate helpful to winning. But then again, as I said, that's why you guys hardly ever win any elections.
That's some great strategy you have lol.
 

donwuan

The Legend
BGOL Investor



The “architect of the Southern Strategy” was Kevin Phillips. His book, The Emerging Republican Majority (1969), outlined how the Republican Party could realign American politics by appealing to conservative white Southerners. When Wallace was shot in 1972, Lee Atwater, Roger Stone and Pat Buchanan knew the Strategy would reflect Nixon by sweeping Wallace voters. It’s been used by the GOP in every campaign since. Reagan, who was a raging racist, even went so far as to order the release of “A Nation At Risk” to stoke fear about the “diluting” of American education using fake data. Which led to vouchers and groups like Moms for Liberty. Pretty much every thing R’s have pushed for since 1972 is rooted in white supremacy.​
 

notreally

Rising Star
Registered
You keep proving what I said to be true. You can't help yourself.
You shit on Harris in this very thread and then point out how you leftists will vote for her. Only to leftists is shitting on your candidate helpful to winning. But then again, as I said, that's why you guys hardly ever win any elections.
That's some great strategy you have lol.

With all due respect...
@Big Tex, you are one of the forum members I have not blocked, whose posts I read, agreeing more often than not. I have no idea who or what you are, but your words have earned my respect, for whatever that is worth. (That and $3 MIGHT get you a cup of coffee).

That said...why are you arguing with this person? He is so abundantly, clearly, psychotically full of shit.
Your arguments are solid.

In the words of every supervillain in every 70s Kung Fu movie I have ever seen:

Superior men do not fight battles with inferior foes.

Just stickin' my nose in where it clearly does not belong. Voodoo Ranger. Good beer.

Cheers.
 
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