$3M for 1,300sqft (120m²)...
this post was submitted on 03 Jul 2026
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That's absolutely insane. You can get a proper mansion for that here in Scandinavia...
Asking 2 got 3. Did a corporation buy that?
Housing crash when?
At this point, not without a bloody upheaval.
Not that I'm encouraging that. It sounds horrible. But still.
It'll never crash again. Private equity will buy every home and rent them back to us. Forever.
Then make sure private equity goes out of business
Something something avocado toast
My landlord recently told me how much they think the place I'm renting would sell for, and now idk why the owners even bother renting to me because the price is like 50 years worth of my rent.
Because he gets a steady supply of money and then in 10-20 years it will be worth 100 years of your rent on top of the 10-20 they collected already.
The bubble could pop though and you lose out. The market has softened near us and there are people that have lost 100s of thousands in equity already, and are upside down in the mortgage
I feel like "lose out" is an overstatement. There are/were still steady rent payments even if the whole bottom falls out.
The bubble will inevitably pop as the boomers start dying and the housing supply relative to the population starts increasing. Plus no want wants to pay for the catchup work needed to address 30 years of deferred maintenance, so a lot of houses will go for cheap.
This. I was going to mention the depracating property. Our place needs a new roof soon. I have seen people skip it as well as lots of other outside water shielding maintenance and the place is a rotten mess 50 years later
Of course, but a generation of homeowners grew up learning that, barring short disruptions, home prices always go up. Nevermind that this was largely due to interest rates steadily dropping since the 80s, reaching basically 0% during Covid.
Since there isn't really room for interest rates to drop anymore people shouldn't expect home prices to rise faster than incomes rise, but it's going to be hard to undo 30 years of observation.
Well you see, he can take a loan on the equity, you pay the loan for him and he doesn’t have to pay any where near as much in taxes. You’re just helping out a landlord in need.
It's because your landlord never paid for it. The bank did. You're paying the interest on his loan.
I don’t think you know how loans work.
They mean if they sold it now they'd have 50 years of rent now, instead of waiting 50 years to accumulate that amount. All that money now is worth more then getting it later.
Don't forget taxes. All they have to do is "move in" for a year or so to get a massive tax savings on the sale.
I know what they meant.
Renting out properties is not about making tenants pay the same amount as the property is worth over any period of time.
It's about having someone else cover the cost of borrowing the money while the property increases in value by itself until they decide to cash in.
You should all come to my town middlesbrough in the uk my 3 bedroom was just £91k in 2018.
We have like 9 jobs.. so you have to share mind..
How's the internet? Asking for a friend
We are just getting the good stuff, 1GB speeds. If you mean Mobile Internet then its much more patcy..
And they use the 3mil to buy a nice small house and outbid a working class family that currently live in a 2 room apartment
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