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324
MolotovCocktail
2025 Aug 23, 4:30pm
MolotovCocktail
2025 Aug 23, 4:30pm
mell says
Won't work. (Except on the margins)
Interest rates cuts have been signaled so mortgage rates will likely come down by 50bp at least, halting the decline.
Won't work. (Except on the margins)
325
AD
2025 Aug 23, 4:58pm
AD
2025 Aug 23, 4:58pm
https://www.msn.com/en-us/money/realestate/home-purchases-are-getting-canceled-at-a-record-rate-redfin/ar-AA1L52jH
Home sales are falling through at the highest rate in years, as record prices, elevated mortgage rates and economic uncertainty lead more buyers to walk away.
More than 15 percent of home purchases fell through last month, the highest July rate in records dating back to 2017, according to a new Redfin analysis.
Home sales are falling through at the highest rate in years, as record prices, elevated mortgage rates and economic uncertainty lead more buyers to walk away.
More than 15 percent of home purchases fell through last month, the highest July rate in records dating back to 2017, according to a new Redfin analysis.
326
HeadSet
2025 Aug 23, 8:06pm
HeadSet
2025 Aug 23, 8:06pm
DemoralizerOfPanicans says
Lowering the rate will not lower the monthly payment. The price will rise to offset the lower rate keeping the monthly payment the same.
What will a point rate cut do? If $2800 is unaffordable, $2600 is hardly much better.
Lowering the rate will not lower the monthly payment. The price will rise to offset the lower rate keeping the monthly payment the same.
327
MolotovCocktail
2025 Aug 23, 8:35pm
MolotovCocktail
2025 Aug 23, 8:35pm
AD says
Only in hipster coastal cities, remember?
Home sales are falling through at the highest rate in years, as record prices, elevated mortgage rates and economic uncertainty lead more buyers to walk away.
More than 15 percent of home purchases fell through last month, the highest July rate in records dating back to 2017, according to a new Redfin analysis.
Only in hipster coastal cities, remember?
328
DemoralizerOfPanicans
2025 Aug 23, 8:39pm
DemoralizerOfPanicans
2025 Aug 23, 8:39pm
HeadSet says
Correct.
Also, in the recent past the Fed lowered the rate and the mortgage rate went up.
The affordability crisis is solved by price discovery. Many places where the premium for new build is almost negligible versus a many decades older, often smaller home with fewer features and replacement for roof, HVAC, counters, etc on the near horizon. Unfortunately, retail sellers are slow, clinging to past COVID highs and images of swarms of Asians with deep pockets wanting to move to Ocala or Nashville burbs.
Another sign of malpricing is the rent vs. own being not only opposite, but significantly so.
Lowering the rate will not lower the monthly payment. The price will rise to offset the lower rate keeping the monthly payment the same.
Correct.
Also, in the recent past the Fed lowered the rate and the mortgage rate went up.
The affordability crisis is solved by price discovery. Many places where the premium for new build is almost negligible versus a many decades older, often smaller home with fewer features and replacement for roof, HVAC, counters, etc on the near horizon. Unfortunately, retail sellers are slow, clinging to past COVID highs and images of swarms of Asians with deep pockets wanting to move to Ocala or Nashville burbs.
Another sign of malpricing is the rent vs. own being not only opposite, but significantly so.
329
DemoralizerOfPanicans
2025 Aug 23, 8:48pm
https://www.bankrate.com/real-estate/rent-vs-buy-affordability-study/
Also, terrible "Date the Rate, Marry the House" advise. The bottom line price is almost always the most important factor. Also, if you've only been a homeloaner for a few years, if the R/E market goes down and your equity contribs don't offset that, you have a problem. Even if rates dropped from near 7% to 4%. Plus refinancing isn't Free.
Rent vs. Own Calculator
Beware, default house value growth and rental cost growth YoY is unrealistic and not justified by past couple of years.
https://www.nytimes.com/interactive/2024/upshot/buy-rent-calculator.html
DemoralizerOfPanicans
2025 Aug 23, 8:48pm
On average, renting a home is cheaper than paying a mortgage in all 50 of the largest U.S. metros in 2025 — with the cost difference between the two growing in 38 metros since last year.
Nationally, an average mortgage payment costs 38 percent more per month compared to average rent.
The metros with the smallest price gaps between renting and buying are mostly concentrated in the Rust Belt, including Detroit, Philadelphia and Cleveland.
The biggest cost gaps between renting and buying are centered in the tech hubs of San Francisco, San Jose and Seattle.
https://www.bankrate.com/real-estate/rent-vs-buy-affordability-study/
Also, terrible "Date the Rate, Marry the House" advise. The bottom line price is almost always the most important factor. Also, if you've only been a homeloaner for a few years, if the R/E market goes down and your equity contribs don't offset that, you have a problem. Even if rates dropped from near 7% to 4%. Plus refinancing isn't Free.
Rent vs. Own Calculator
Beware, default house value growth and rental cost growth YoY is unrealistic and not justified by past couple of years.
https://www.nytimes.com/interactive/2024/upshot/buy-rent-calculator.html
330
HeadSet
2025 Aug 24, 10:14am
HeadSet
2025 Aug 24, 10:14am
DemoralizerOfPanicans says
As it historically has been if one is talking a 30 year low down mortgage. They used to call this an "inflation premium." I had several rentals where I assumed a VA loan that was less than 4 years old. I had a negative cash flow renting these houses but no big deal. I just considered that I was buying a nice home for $100 or so per month. I did get Schedule E interest deductions and depreciation that brought my overall tax bill down, but much of that is recouped when the house is eventually sold and not 1041 exchanged.
renting a home is cheaper than paying a mortgage
As it historically has been if one is talking a 30 year low down mortgage. They used to call this an "inflation premium." I had several rentals where I assumed a VA loan that was less than 4 years old. I had a negative cash flow renting these houses but no big deal. I just considered that I was buying a nice home for $100 or so per month. I did get Schedule E interest deductions and depreciation that brought my overall tax bill down, but much of that is recouped when the house is eventually sold and not 1041 exchanged.
331
mell
2025 Aug 24, 11:56am
While there is no direct connection, mortgage rates usually eventually move with the Fed rate. Fighting the Fed bazooka has never been proven wise so far. Predict rares between 5 and 6 % in 2026 (like most banks do). Still high (for recent history) but def lower than now.
332
MolotovCocktail
2025 Aug 24, 12:25pm
MolotovCocktail
2025 Aug 24, 12:25pm
mell says
Not if the Fed rate is deemed as inflationary. Ditto with credit card and other lending rates. And with the Fed seen as kow-towing to Trump(which it is doing) and/or Fed independence overall being subsumed by Treasury Dept, bingo! That's what we have now and moving forward. Last time this happened was with Fed chairman Arthur Burns & Nixon. That gave us the wonderful 1970s.
One saving grace will be US stablecoins being adopted as a form if economic state craft. Boring shit but I posted that here: https://patrick.net/post/1385426/2025-08-23-economic-statecraft-thread
In short, US Genius Act stablecoins will create an automatic demand for US Treasury purchases while also butt-raping the eurodollar as the main means of conducting intl trade.. Only thing that MAY compete worldwide with it would be a gold 'backed' stablecoin. China is making that play, it seems. The competition will be good for everyone except Congressional Drunk Spenders.
Thus a robust stablecoin market would keep US interest rates overall low...at mostly the expense of most othe currencies in the world.
While there is no direct connection, mortgage rates usually eventually move with the Fed rate.
Not if the Fed rate is deemed as inflationary. Ditto with credit card and other lending rates. And with the Fed seen as kow-towing to Trump(which it is doing) and/or Fed independence overall being subsumed by Treasury Dept, bingo! That's what we have now and moving forward. Last time this happened was with Fed chairman Arthur Burns & Nixon. That gave us the wonderful 1970s.
One saving grace will be US stablecoins being adopted as a form if economic state craft. Boring shit but I posted that here: https://patrick.net/post/1385426/2025-08-23-economic-statecraft-thread
In short, US Genius Act stablecoins will create an automatic demand for US Treasury purchases while also butt-raping the eurodollar as the main means of conducting intl trade.. Only thing that MAY compete worldwide with it would be a gold 'backed' stablecoin. China is making that play, it seems. The competition will be good for everyone except Congressional Drunk Spenders.
Thus a robust stablecoin market would keep US interest rates overall low...at mostly the expense of most othe currencies in the world.
333
FortWayneHatesRealtors
2025 Aug 24, 1:20pm
Fed signaled rate reduction, expect prices to go up.
Debt slavery is what America is ran on. Fucking government still backs 30 year mortgages.
Debt slavery is what America is ran on. Fucking government still backs 30 year mortgages.
334
AD
2025 Aug 24, 2:21pm
AD
2025 Aug 24, 2:21pm
Fortwaye says
yep, modern monetary theory and inflate out of a debt crisis
but also they want 2% annual inflation as the ideal setting to avoid people thinking we are in a deflationary spiral
people will just sit on sidelines waiting for prices to further drop such as for housing "assets'
the 2% annual inflation agenda of the central banks incentivizes (or coerces?) the people to not "wait it out" and to buy now
.
Fed signaled rate reduction, expect prices to go up.
Debt slavery is what America is ran on. Fucking government still backs 30 year mortgages.
yep, modern monetary theory and inflate out of a debt crisis
but also they want 2% annual inflation as the ideal setting to avoid people thinking we are in a deflationary spiral
people will just sit on sidelines waiting for prices to further drop such as for housing "assets'
the 2% annual inflation agenda of the central banks incentivizes (or coerces?) the people to not "wait it out" and to buy now
.
335
BigSky
2025 Aug 24, 8:03pm
WookieMan says
Uh, no. I would say Patnetters in general are doing well. Some are just wondering about the credibility of your bag of brag. You keep saying how you have been making bank for years, are rolling in dough now, and will be filthy rich when you retire. If you have so much loot, why do you now have kids sharing a room in a small house with two bathrooms? And why is your builder making you get a construction loan in the first place? Did he not trust that you had any money? When I bought a newly constructed house I did not have to pay for it until closing, which occurs after the house was built and had an occupancy permit. Same with everyone I know that bought new construction. The only folks I know that did construction loans are builders and self-contractors, as construction loans are a VERY expensive way to borrow. Of course, from your posts it seems that when when you say "construction loan" it means a loan using your mother's stocks as collateral. And your mom is helping you out by purchasing your old tiny house.
Here is what you area asking use to believe:
Your wife makes upwards of $650k per year yet you need a loan to construct a house. Why not use some of that $10,000 per week take home pay to fund the build as you go? After all, construction loans only pay the builder in stages, and then only after inspections and lien releases. Are we supposed to believe that all that salary goes directly into untouchable retirement accounts or pays for travel vacations? None of your massive cash over the years went into money market accounts, treasuries, or CDs? It would certainly be better to use this cash and lose 4% or so when a construction loan will cost at least twice that for interest alone, not including other fees and costs.
Starting to question that pat netters make little money. Tone of jealously lately in the comments.
Uh, no. I would say Patnetters in general are doing well. Some are just wondering about the credibility of your bag of brag. You keep saying how you have been making bank for years, are rolling in dough now, and will be filthy rich when you retire. If you have so much loot, why do you now have kids sharing a room in a small house with two bathrooms? And why is your builder making you get a construction loan in the first place? Did he not trust that you had any money? When I bought a newly constructed house I did not have to pay for it until closing, which occurs after the house was built and had an occupancy permit. Same with everyone I know that bought new construction. The only folks I know that did construction loans are builders and self-contractors, as construction loans are a VERY expensive way to borrow. Of course, from your posts it seems that when when you say "construction loan" it means a loan using your mother's stocks as collateral. And your mom is helping you out by purchasing your old tiny house.
Here is what you area asking use to believe:
Your wife makes upwards of $650k per year yet you need a loan to construct a house. Why not use some of that $10,000 per week take home pay to fund the build as you go? After all, construction loans only pay the builder in stages, and then only after inspections and lien releases. Are we supposed to believe that all that salary goes directly into untouchable retirement accounts or pays for travel vacations? None of your massive cash over the years went into money market accounts, treasuries, or CDs? It would certainly be better to use this cash and lose 4% or so when a construction loan will cost at least twice that for interest alone, not including other fees and costs.
337
MolotovCocktail
2025 Aug 25, 3:09pm
MolotovCocktail
2025 Aug 25, 3:09pm
WookieMan says
Made up in your head. "Calling Wookie out on his bullshit" = jealousy
Starting to question that pat netters make little money. Tone of jealously lately in the comments
Made up in your head. "Calling Wookie out on his bullshit" = jealousy
339
WookieMan
2025 Aug 31, 4:13am
WookieMan
2025 Aug 31, 4:13am
What does $1.4M'ish mean? Location and what it originally sold for not just ish? This isn't data or any relevant information. Looks like a 90's build with an old asphalt driveway. Don't know what it looks like on the inside, likely dated. Remember the 80's glass block phase in construction? Well that's what 90's builds look like, old.
MolotovCocktail says
Give actual data and not bullshit X posts. Links. Outside of one small phase of life, when everyone was eating crap, people have always been jealous of me, my family, my relatives, etc. I don't make anything up here. Just what I see in real life. Not what some jackass posted on X or facebook. I use verifiable data.
You troll a bunch of sites as a hobby. I don't know if you're a boomer or some unemployed person. What you posted above is of zero value or information. Never stated any skills you have. What you have is called an addiction. You troll everyone here and always have.
MolotovCocktail says
Made up in your head. "Calling Wookie out on his bullshit" = jealousy
Give actual data and not bullshit X posts. Links. Outside of one small phase of life, when everyone was eating crap, people have always been jealous of me, my family, my relatives, etc. I don't make anything up here. Just what I see in real life. Not what some jackass posted on X or facebook. I use verifiable data.
You troll a bunch of sites as a hobby. I don't know if you're a boomer or some unemployed person. What you posted above is of zero value or information. Never stated any skills you have. What you have is called an addiction. You troll everyone here and always have.
340
MolotovCocktail
2025 Aug 31, 9:02am
MolotovCocktail
2025 Aug 31, 9:02am
WookieMan says
Non sequitur. Has nothing to do with your 'jealousy' claims. Another problem you have.
WookieMan says
Again.
WookieMan says
You do all the time. You are doing it now.
WookieMan says
What's the title and subject of this thread? It's not the 'Everyone is jealous of WookieMan Thread'. But that's what you think it is.
builds look like, old.
MolotovCocktail says
Made up in your head. "Calling Wookie out on his bullshit" = jealousy
Give actual data and not bullshit X posts.
Non sequitur. Has nothing to do with your 'jealousy' claims. Another problem you have.
WookieMan says
have always been jealous of me, my family, my relatives
Again.
WookieMan says
I don't make anything up here.
You do all the time. You are doing it now.
WookieMan says
What you posted above is of zero value or information
What's the title and subject of this thread? It's not the 'Everyone is jealous of WookieMan Thread'. But that's what you think it is.
343
MolotovCocktail
2025 Aug 31, 12:26pm
MolotovCocktail
2025 Aug 31, 12:26pm
Glock-n-Load says
Not mine to post. That's someone else's post I was reposting. Main purpose: to definitely troll one of our Housing Experts of PatNet into posting something(s) stupid in response. Worked like a charm.
MolotovCocktail says
Why didn’t you post the addy?
Not mine to post. That's someone else's post I was reposting. Main purpose: to definitely troll one of our Housing Experts of PatNet into posting something(s) stupid in response. Worked like a charm.
345
Patrick
2025 Aug 31, 4:20pm
Patrick
2025 Aug 31, 4:20pm
@GNL
That's because you're ignoring the users who commented during that time. You can see them and unignore at:
https://patrick.net/edit_profile
That's because you're ignoring the users who commented during that time. You can see them and unignore at:
https://patrick.net/edit_profile
346
Glock-n-Load
2025 Aug 31, 6:24pm
Patrick says
For 7 days they were the only one that posted?
GNL
That's because you're ignoring the users who commented during that time. You can see them and unignore at:
https://patrick.net/edit_profile
For 7 days they were the only one that posted?
347
WookieMan
2025 Aug 31, 10:30pm
WookieMan
2025 Aug 31, 10:30pm
MolotovCocktail says
So it didn’t happen. You don’t post data. You’re jealous of what others have that you don’t. You then turn a discussion into an argument debate and semantics. Post a link or what you say is BS.
Glock-n-Load says
MolotovCocktail says
Why didn’t you post the addy?
Not mine to post. That's someone else's post I was reposting. Main purpose: to definitely troll one of our Housing Experts of PatNet into posting something(s) stupid in response. Worked like a charm.
So it didn’t happen. You don’t post data. You’re jealous of what others have that you don’t. You then turn a discussion into an argument debate and semantics. Post a link or what you say is BS.
348
MolotovCocktail
2025 Sep 1, 7:12am
MolotovCocktail
2025 Sep 1, 7:12am
WookieMan says
So once again your imaginary magical thinking takes over your brain.
So it didn’t happen
So once again your imaginary magical thinking takes over your brain.
349
MolotovCocktail
2025 Sep 1, 7:15am
MolotovCocktail
2025 Sep 1, 7:15am
WookieMan says
I do all the time. You just don't accept it. In this case you can look up the original post on your own, but don't want to.
WookieMan says
Nope. And that has nothing to do with whether or not something happened.
WookieMan says
Translation: I call out Wookie's 'expert' billshit.
WookieMan says
That's rich coming from you. You post BS all the time. ALSO AGAIN:
MolotovCocktail says
WookieMan says
You don’t post data
I do all the time. You just don't accept it. In this case you can look up the original post on your own, but don't want to.
WookieMan says
You’re jealous of what others have that you don’t.
Nope. And that has nothing to do with whether or not something happened.
WookieMan says
You then turn a discussion into an argument debate and semantics
Translation: I call out Wookie's 'expert' billshit.
WookieMan says
Post a link or what you say is BS.
That's rich coming from you. You post BS all the time. ALSO AGAIN:
MolotovCocktail says
In this case you can look up the original post on your own, but don't want to.
WookieMan says
350
MolotovCocktail
2025 Sep 1, 7:28am
MolotovCocktail
2025 Sep 1, 7:28am
GNL says
Curious. How is it you are you seeing them now?
Patrick, I'm missing about 6 day's worth of comments on this thread.
Curious. How is it you are you seeing them now?
351
WookieMan
2025 Sep 1, 9:21am
WookieMan
2025 Sep 1, 9:21am
MolotovCocktail says
When what is posted has nothing, why would one look it up? That's a waste of time. The OP or commenter should have provided data. Opinions and anecdotal evidence are fine, but you claim things to be true without backing it up. Just screen shots from X and other memes and sites.
WookieMan says
You don’t post data
I do all the time. You just don't accept it. In this case you can look up the original post on your own, but don't want to.
When what is posted has nothing, why would one look it up? That's a waste of time. The OP or commenter should have provided data. Opinions and anecdotal evidence are fine, but you claim things to be true without backing it up. Just screen shots from X and other memes and sites.
352
MolotovCocktail
2025 Sep 1, 9:25am
MolotovCocktail
2025 Sep 1, 9:25am
WookieMan says
Stop projecting.
WookieMan says
Just because you refuse to accept those doesn't mean I am not posting anything.
but you claim things to be true without backing it up
Stop projecting.
WookieMan says
Just screen shots from X and other memes and sites.
Just because you refuse to accept those doesn't mean I am not posting anything.
353
B.A.C.A.H.
2025 Sep 1, 1:53pm
B.A.C.A.H.
2025 Sep 1, 1:53pm
MolotovCocktail says
Jeez, Molotov, he always wants to add the last word.
It's (sadly) comical, if you think about it. Just Getalife, let it go and let him get in the last word.
Just because you refuse to accept those doesn't mean I am not posting anything.
Jeez, Molotov, he always wants to add the last word.
It's (sadly) comical, if you think about it. Just Getalife, let it go and let him get in the last word.
354
MolotovCocktail
2025 Sep 1, 2:48pm
MolotovCocktail
2025 Sep 1, 2:48pm
B.A.C.A.H. says
MolotovCocktail says
Just because you refuse to accept those doesn't mean I am not posting anything.
Jeez, Molotov, he always wants to add the last word.
It's (sadly) comical, if you think about it. Just Getalife, let it go and let him get in the last word.
356
Glock-n-Load
2025 Sep 1, 8:18pm
MolotovCocktail says
I only put Wookie on ignore. I can’t imagine he’s the only one who made a comment during those 7 days.
GNL says
Patrick, I'm missing about 6 day's worth of comments on this thread.
Curious. How is it you are you seeing them now?
I only put Wookie on ignore. I can’t imagine he’s the only one who made a comment during those 7 days.
358
WookieMan
2025 Sep 2, 10:54am
WookieMan
2025 Sep 2, 10:54am
WookieMan says
Shocker. No troll response yet. You're a burden to this site. Take that as you will. It hurts new user sign ups and getting different content.
MolotovCocktail says
Just because you refuse to accept those doesn't mean I am not posting anything.
You probably shouldn't post anything. If you could teach retardation you're the professor.
Shocker. No troll response yet. You're a burden to this site. Take that as you will. It hurts new user sign ups and getting different content.
359
MolotovCocktail
2025 Sep 2, 12:58pm
MolotovCocktail
2025 Sep 2, 12:58pm
Glock-n-Load says
When he gets triggered by people who challenge his 'expertise', he goes on the warpath.
See? https://patrick.net/comment?comment_id=2203752
I only put Wookie on ignore. I can’t imagine he’s the only one who made a comment during those 7 days.
When he gets triggered by people who challenge his 'expertise', he goes on the warpath.
See? https://patrick.net/comment?comment_id=2203752
360
MolotovCocktail
2025 Sep 2, 12:59pm
MolotovCocktail
2025 Sep 2, 12:59pm
WookieMan says
Translation: You can't stand having your bullshit exposed for what it truly is.
WookieMan says
MolotovCocktail says
Just because you refuse to accept those doesn't mean I am not posting anything.
You probably shouldn't post anything. If you could teach retardation you're the professor.
Shocker. No troll response yet. You're a burden to this site. Take that as you will. It hurts new user sign ups and getting different content.
Translation: You can't stand having your bullshit exposed for what it truly is.
361
AD
2025 Sep 2, 6:08pm
AD
2025 Sep 2, 6:08pm
.
Home prices will go down even in low mortgage rate environment if the job market sours a lot.
https://www.woodtv.com/news/nexstar-media-wire/pessimism-about-economy-at-record-highs-in-new-survey/
https://www.reuters.com/business/us-manufacturing-contracts-sixth-straight-month-amid-tariff-drag-2025-09-02/
https://observer.com/2025/07/ai-fueled-layoffs-creep-across-silicon-valley/
https://www.sfchronicle.com/tech/article/cisco-oracle-layoffs-bay-area-20824135.php
.
Home prices will go down even in low mortgage rate environment if the job market sours a lot.
https://www.woodtv.com/news/nexstar-media-wire/pessimism-about-economy-at-record-highs-in-new-survey/
https://www.reuters.com/business/us-manufacturing-contracts-sixth-straight-month-amid-tariff-drag-2025-09-02/
https://observer.com/2025/07/ai-fueled-layoffs-creep-across-silicon-valley/
https://www.sfchronicle.com/tech/article/cisco-oracle-layoffs-bay-area-20824135.php
.
362
AD
2025 Sep 2, 6:26pm
AD
2025 Sep 2, 6:26pm
MolotovCocktail says
.
There is no lack of nationwide inventory with 9.2 months of supply and rents going down in Panama City Beach where a 3 bedroom 2 car garage rents for $2000.
Still no new construction after RD Offutt cleared the land for its Hathaway Luxury Apartments (about a mile west of Hathaway Bridge) last year.
https://fred.stlouisfed.org/series/MSACSR
Maybe Trump going to offer vouchers to working class to help with rent or mortgage payments, which subsidizes the private equity firms that own apartments and single family homes.
Notice the default rate for multi-family mortgage backed securities is around 7% as recently reported by the Wolfman at Wolf Street website.
.
.
There is no lack of nationwide inventory with 9.2 months of supply and rents going down in Panama City Beach where a 3 bedroom 2 car garage rents for $2000.
Still no new construction after RD Offutt cleared the land for its Hathaway Luxury Apartments (about a mile west of Hathaway Bridge) last year.
https://fred.stlouisfed.org/series/MSACSR
Maybe Trump going to offer vouchers to working class to help with rent or mortgage payments, which subsidizes the private equity firms that own apartments and single family homes.
Notice the default rate for multi-family mortgage backed securities is around 7% as recently reported by the Wolfman at Wolf Street website.
.
363
AD
2025 Sep 2, 7:51pm
AD
2025 Sep 2, 7:51pm
.
If this story becomes more commonplace think about the impact on housing prices (as well as rent prices) especially middle and upper class zip codes ?
what happens in San Fran Bay Area and Silicon Valley with a lot of layoffs and no foreign buyers ?
https://www.businessinsider.com/former-microsoft-worker-job-hunt-money-struggles-2025-9
Before he was fired last December, Mody Khan was earning a six-figure salary as a cloud solution architect at Microsoft. Nine months into his job search, he's at risk of losing his home.
.
If this story becomes more commonplace think about the impact on housing prices (as well as rent prices) especially middle and upper class zip codes ?
what happens in San Fran Bay Area and Silicon Valley with a lot of layoffs and no foreign buyers ?
https://www.businessinsider.com/former-microsoft-worker-job-hunt-money-struggles-2025-9
Before he was fired last December, Mody Khan was earning a six-figure salary as a cloud solution architect at Microsoft. Nine months into his job search, he's at risk of losing his home.
.
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So the only way to decrease real prices is to decrease demand, and the only way to do that is to kick out all illegal immigrants and anchor babies. Will Trump do this? Almost certainly not. Even with control over all three branches of the government, the Republicans are not going to get rid of all the illegals who are driving up housing prices and social welfare costs. I wish that I was wrong about this, but I'm not.
The United States population reached 200 million on November 20, 1967. If there was no net migration, then the U.S. population have stabilized to about 220 million. Instead, the population is 335 million. This is why housing is so expensive. This is why rent is so damn high. This is why the younger generations cannot afford to have children. This is why the only way to keep the population from falling is to import massive numbers of unskilled, uneducated, and often criminal immigrants. Both parties are responsible for this: democrats for importing voters and republicans for importing farm laborers. Both parties want cheap labor.
When you import massive numbers of low-iq, low-skill workers, your per capital GDP declines relative to where it would have been otherwise. Yes, technological advancements mask this because technology increases GDP faster than low-skill immigration decreases it, but most of those gains don't get seen by the middle class.
Since both parties, and their corporate overlords, are benefiting from the current system, immigration will continue and housing prices will also continue to rise. I suppose I shouldn't care since I own and have a 2.25% mortgage that is being eaten away by inflation, but anyone young enough that they having bought already is fucked.