360

Fellow home owners, are you ready for the housing market to crash? (lemmy.world)

submitted 1 year ago by ericbomb@lemmy.world to c/asklemmy@lemmy.world

213 comments fedilink hide all child comments

I know I'm supposed to want it to keep going up as a wealth generator or whatever.

But like... I wouldn't be able to afford the monthly payments if I bought my house right now and it's scary. Also none of my friends are buying homes, none of them are even renting full places. Just like renting rooms.

So what are your feelings home owners of lemmy?

you are viewing a single comment's thread
view the rest of the comments

[-] Honytawk@lemmy.zip 22 points 1 year ago

Let it crash!

Big housing prices only benefit the people owning multiple homes.

Because it doesn't matter what the housing cost is if you sell your only home, because you will need to buy a new home at the same cost anyway. Since everyone need a house to live.

[-] Corkyskog@sh.itjust.works 3 points 1 year ago

Not only that, if you have a small starter house you still benefit from a crash. That 400k house will become 250-300k, while your 180k house will just drop to 130-150k.

this post was submitted on 29 Sep 2023

360 points (95.2% liked)

Ask Lemmy

26672 readers

1211 users here now

A Fediverse community for open-ended, thought provoking questions

Please don't post about US Politics.

Rules: (interactive)

1) Be nice and; have fun

Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them

2) All posts must end with a '?'

This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?

3) No spam

Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.

4) NSFW is okay, within reason

Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either !asklemmyafterdark@lemmy.world or !asklemmynsfw@lemmynsfw.com. NSFW comments should be restricted to posts tagged [NSFW].

5) This is not a support community.

It is not a place for 'how do I?', type questions. If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email info@lemmy.world. For other questions check our partnered communities list, or use the search function.

Reminder: The terms of service apply here too.