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U.S. home sales fade in June as national median sales price hits an all-time high of $435,300 (www.nbcnews.com)
submitted 1 year ago by to c/aboringdystopia@lemmy.world
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[–] 22 points 1 year ago (2 children)

It's all the corporations buying up homes for use in mass scale rentals. Saw a report somewhere that in 2024 they bought ~40% more homes than in 2023.

::: spoiler Also fuck copy paste homes :::

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  • [–] 18 points 1 year ago (1 child)

    They’re seriously trying to make all of us plebs perma-renters. They’re all artificially inflating the housing market, because they’re trying to min/max as much as they can before the absolutely insane bubble (that makes 2008 look like fucking bush league) that’s gonna pop sooner than later, imo.

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  • [–] 5 points 1 year ago

    Insanely short sighted. Home ownership is the #1 path to economic gain for most of us. Take that away, we have less money to spend and that ain't good for capitalism.

    And yes, when this pops 2008 will be a fond memory. Houses simply aren't worth that much, not even close. Got our Habitat for Humanity home at cost, pretty small 3br/2ba, fairly large yard. Total cost to build and buy the land? $80,000.

    And BTW, I don't mean appreciation alone. When you own a home you can save and make money in ways that are impossible or impractical for a renter.

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