patrick.net

May the 160K house I bought be worth less than $120K for the next 50 years.

My house is not my harebrained get rich scheme, I don't plan on retiring and selling my house out from under my adult children who either may or may not have a house by then. My house is a family institution, it's not a commodity of our fortune.

If the RE stays like this, The house will be deeded to my kids long before I die. So the stinking greedy filthy Libs don't force them to sell it over inheritance tax.
My house will paid off in less than 4 years, then I'll deed it to my kids.

That seems unambiguously a good thing. Why do they make it sound like it's bad?

tovarichpeter says

Trump's war on immigrants could sink housing market

Yeah, not QE, not an economy based on nothing, illegals no longer buying houses with government subsidies, that's what will push us over...

Woohoo! You mean there's a benefit of cheaper housing by deporting illegal aliens?

Bonus!

Patrick, I think Trump wants either an old fashioned housing bubble or a complete depression. Then he will be in charge. A complete depression will destroy the economy, and it won't bounce back quickly like the idiot Austrian/Libertarian economists believe.

I disagree. What Trump really wants is the return of manufacturing jobs to the US in large numbers.

Then he will be proven right, the workers win, and he can retire securely with the biggest ego on earth. And he'd deserve it.

Fine with me if he can pull it off. I have my doubts, but have not counted him out yet. He may have some large beneficial effect on US manufacturing.

Looks like he is going to break a few stupid dogmas that the establishment took for granted:
- unenforced immigration laws (aka unlimited immigration),
- high home prices going higher,
- putting international development ahead of American interests
etc...

rando says

I disagree. What Trump really wants is the return of manufacturing jobs to the US in large numbers.

This is how you can tell if he wants a housing bubble, by what is repealed, specifically: http://www.talkmarkets.com/content/real-estate--reits/how-to-track-the-trump-housing-bubble?post=118723&uid=4798

Someone tell me how all these manufactured products will be bought up by the world, when he impoverishes the world with tariffs.

And by the way, when the housing crash hit its low, no one could get a loan so houses were not being sold. Then the investors were allowed to come in and buy them up.

Trump's war on immigrants could sink housing market

While I see the logic of less people driving down housing prices, Trump has large incentives not to drive down asset prices. Deflation is very unpopular, especially with those in power, and it is destabilizing due to collateral issues. So, I doubt that he will sit by idly and happily watch housing prices go down. He'll due what he can to increase inflation.

So prices will go down in places i dont want live, great.

Fewer illegals squatting in slumlord shacks means safer neighborhoods which means more demand for housing which means higher prices. The popular parts of the country will always be popular, and as we've seen with cities like Compton, moving out the bad element (or even a fair percentage of them) makes house prices rise nicely.

That would be great - MAGA!

YesYNot says

Trump has large incentives not to drive down asset prices. Deflation is very unpopular, especially with those in power, and it is destabilizing due to collateral issues. So, I doubt that he will sit by idly and happily watch housing prices go down. He'll due what he can to increase inflation.

I guess removing immigrants and attacking trade deals is a good way to boost wage inflation, and well... just plain inflation.
But remember "asset inflation" is predicated on "no wage inflation". Assets inflate because the money goes to capital rather than labor.
Housing prices (and other assets) CAN go down even as wages rise, because price/income is fairly high by historical standards.
It's up to anyone to tell if he realizes this or if he cares. There are contradictions like this in his policies.

If trump creates one job for every illegal deported - the property market will GO UP.

Its time we started running this place like a business and keep track of open jobs and immigrants.

Trump's war on illegal aliens is exactly what we need. Thank Orange Christ.

So, if illegals are not here to build the houses, a shortage will drive the prices UP.

Oh, and by the way, if bankers didn't do the last housing bubble why do they want deregulation?

http://www.examplesofglobalization.com/2013/02/if-bankers-werent-at-fault-for-last.html

Gary Anderson says

So, if illegals are not here to build the houses, a shortage will drive the prices UP.

Americans will build houses

Booger says

Americans will build houses

Oh, you mean like they harvest the crops when the migrants aren't here? Lol. That is funny.

If Americans do it prices will go UPUPUPUPUP.

Gary Anderson says

If Americans do it prices will go UPUPUPUPUP.

How can you advocate taking advantage of illegal aliens by paying them sweatshop wages? Are you a Republican?

home, auto, health and pretty much all kinds of insurance will cost less as well.

Gary Anderson says

Oh, you mean like they harvest the crops when the migrants aren't here? Lol. That is funny.

Why? Americans are biologically inferior and cannot pickup strawberries?

Gary Anderson says

If Americans do it prices will go UPUPUPUPUP.

That's a stupid comment:
If you look at all the economic problems we had for the past 15yrs:
- lack of end demand
- low growth
- extreme fed stimuli
- low rates
- debt binge
- financial crisis
- massive foreclosures.
- massive QE and gov debt ramp.

All these are due to 1 cause: wages not going up.

So if I need to pay a bit more for strawberries... I say good, bring it on.

At around 10-12 illegals to a house it's not like THAT many houses will be vacant.

Add to this Trump wants to put a border tax to pay for corporate tax breaks. That is a tax on US consumers. On the poorest ones as well. He is a pimp for the rich.

They do not have extra to pay for strawberries. And neither will foreigners. trump is adding inefficiency to the US economy.