A residential crash is coming for places like Chiraq and other Democrat run cities too. You will be able to buy houses for next to nothing soon, as long as you don't mind living in a corrupt, crime-ridden shithole. See Detroit for reference of the future of these cities.
If you are wanting an affordable house in the suburbs or in a rural area, you are shit out of luck. They are expensive due to the demand for them from the people fleeing the cities.
I do wonder, however, if the potential coming crash might reach to outside the cities but nearby, too. I wouldn't mind living sort of near a corrupt crime-ridden shithole, if it's not too close, and the price is right.
Maybe if this was 08. The best hidden agenda of the Obama administration was how effectively they destroyed American towns by flooding them with immigrants to push leftist policies. East Michigan being flooded with Muslims wasn’t an accident.
At some point the inner city housing will be literally free to buy - because the goal is ongoing revenue from property taxes. The government doesn’t care about the value of the home unless it informs tax values. So we’re eventually going to see property taxes divorced from home values entirely. The government will become your de facto landlord, collecting rent in the form of taxes, against a property you “own” but which has no value. It’s backdoor government housing for all.
I have some insights into this. First off, almost all the suburban companies are actually owned by the same company. If one goes down, the next one buys the assets and continues. So it's not money laundering per se, but it is a market run by a single group.
The second part is how much everything is based on the idea of growth. If they aren't selling homes for more and more expensive amounts, they can't continue. There's been a lot of speculation on when the tipping point t happens, but not real numbers.
A lot of places like inner city new York became a giant rich person area as things plummeted in the area. So the drop in prices means 20 years from now it will be even more expensive.
The best option is to build cheaper homes and sell them for cheaper. If you don't raise prices, but sell in bulk, then the entire market will have a hard time competing with you. This is where tiny homes, smaller homes, 3D printed homes and others come in. Trudeau wants 3D printed homes, while others are promoting smaller homes.
Meanwhile architects have big displays that are mostly facade for modern expensive homes. Keep in mind, these are just boxes with wiring and plumbing. There are programs that can do that pretty quickly. Heck, there are groups trying to get a GPT style house builder that can work with those programs. I will be part of a group researching that over the fall. I'm trying to prepare as much as I can.
So, wait 5 years and watch the prices plummet as the industry itself tries to get SJW money to stay afloat.
Sure, but that's far from the only issue. We also have stupid regulations and government in general, as well as the overall economic meddling. Even with those forty million (who I agree shouldn't be here), houses should and could be more affordable than they are.
know why city councils and other government entities are meddling? because boomers own houses. if their property value drops for any reason they are underwater on their equity loans. they'll vote rezoning and continuing creation of regulations as they buy their 4th vacation home and tell you to pull yourself up by your bootstraps. just like they did. thankfully they'll be gone soon
Sorry, that's lazy bullshit. Boomers are allowed to own houses, and most don't own four vacation homes. Yeah, they had it easier than we do, which let them buy a house. And? They should have a house. I just want one too.
But acting like an older person wanting to live in a house they own is somehow entitled or screwing it over for everyone else is commie nonsense. I hear people I respect saying that; it's a common talking point, but I don't think it's well thought out.
Am I the only one who thinks they are doing whatever they can to keep the economy trudging along in a borderline zombie state so they can pull the plug if they fail to rig it to keep Trump out?
They've been hitting the economy with epi pens and adrenaline for the last quarter century or so. Same thing that happens to every empire that devalues it's currency.
It's the side effect of trying to control a complex, chaotic system. Kondratyev showed fairly definitively that the economy would do what the economy would want to do. Essentially, the economy is wanting to correct, and can't, because people are constricting financial actions (numbers go up).
Might there be a few politicos with enough hubris (or dumb enough) to think they can turn the economy on and off like a light? Sure. But I think a lot more think that if numbers keep going up, they get mo money.
The economy is the big deciding factor for presidential elections. That's why the DNC-controlled MSM (practically everything) have been so consistently lying about the 'economy doing great'.
And don't forget, a lot of people haven't forgotten 'The Great Recession'. They're still angry for all those lost years where they couldn't build families, afford homes or live life as they should have.
You're giving them too much credit. As we saw in 2016, these people are incapable of making contingency plans, which is why everything they've done since then has been insane clown world nonsense.
I think that's because they were truly caught off guard then. I think it was a real wakeup call for them. Sure, they definitely still seem desperate, but I don't think a move like that is out of the question.
CRE has been a ticking time bomb for going on 2 years now. The leases are starting to come due and the owners aren't able to keep the ponzi scheme plates spinning.
The coof gave everyone the realization that most modern desk/spreadsheet jobs have no reason to be in person anymore. It impacted things like consulting where boomers would insist everyone fly in for projects when a majority of the time on site was the team quietly working in some conference room all day.
It hit the customers and tenants first. But the collapse will eventually work its way up the food chain. The elites forget that their position is based on having a stable foundation underneath them.
I asked AI (as is my wont) - and it failed to mention the one thing I think we all know is a major factor - white flight due to black violence. This is what it blames:
The value of commercial property in Chicago has seen a significant drop due to a combination of factors:
Pandemic Impact: The COVID-19 pandemic has reshaped the commercial real estate market, altering how businesses view and utilize office space. This has led to a shift in demand patterns, with Chicago facing a particularly steep uphill battle to regain its pre-pandemic vibrancy¹.
High Property Taxes: Chicago's commercial property taxes are significantly higher than the national average, with a tax rate of 3.78%. This places a heavy financial burden on businesses, affecting their operational costs and overall willingness to invest in office space within the city¹.
Decreased Demand for Office Space: A study by VTS highlights a continuous decline in the demand for office space in Chicago, suggesting a potentially prolonged path to recovery. This trend is especially concerning as it contrasts with some cities where demand has nearly returned to pre-pandemic levels¹.
Interest Rates and Borrowing Constraints: High interest rates have led to constricted borrowing, diminishing property values and putting commercial property sales on a downhill slope. In 2023, Chicago-area commercial property sales were down 44% from the previous year².
Discounted Property Sales: There have been instances of distressed office buildings being sold at significant discounts, such as an 89% discount for a property near the Willis Tower. This reflects the market’s volatility and the challenges property owners face in offloading distressed assets¹.
In response to these challenges, initiatives have been announced to revamp vacant downtown buildings, aiming to rejuvenate the area by repurposing buildings for various uses¹. These efforts represent a move towards recovery and growth for Chicago's commercial real estate market.
The actual oligarchs will only benefit financially from not having to pay the upkeep on these buildings. When they have an army of low-paid work-from-home wage slaves whose private lives are being constantly invaded and surveiled by their corporate overlords, the profits will only go up.
The toxic loans absorbed by the Fed in 2008 are still on their books. They made a good dog-and-pony show how quantitative easing was only "temporary" and they'll sell the radioactive waste when the time is right, ignoring that no sane buyer will buy Jamal and Tyrone's mortgage-backed securities.
Now let's do residential, so I can actually afford to own my own home.
A residential crash is coming for places like Chiraq and other Democrat run cities too. You will be able to buy houses for next to nothing soon, as long as you don't mind living in a corrupt, crime-ridden shithole. See Detroit for reference of the future of these cities.
If you are wanting an affordable house in the suburbs or in a rural area, you are shit out of luck. They are expensive due to the demand for them from the people fleeing the cities.
Yup, unfortunately probably correct.
I do wonder, however, if the potential coming crash might reach to outside the cities but nearby, too. I wouldn't mind living sort of near a corrupt crime-ridden shithole, if it's not too close, and the price is right.
Maybe if this was 08. The best hidden agenda of the Obama administration was how effectively they destroyed American towns by flooding them with immigrants to push leftist policies. East Michigan being flooded with Muslims wasn’t an accident.
No. When the locusts eat everything in the big field in the center, they're going to go looking.
At some point the inner city housing will be literally free to buy - because the goal is ongoing revenue from property taxes. The government doesn’t care about the value of the home unless it informs tax values. So we’re eventually going to see property taxes divorced from home values entirely. The government will become your de facto landlord, collecting rent in the form of taxes, against a property you “own” but which has no value. It’s backdoor government housing for all.
How is this different from what they're already doing? Property tax is the clearest violation of the right to private property ever.
Even Detroit isn't cheap with the decades of accumulated back taxes and penalties you'll be forced to pay before you get the keys to the house.
Oh yeah, they'll blast their mumble rap and their guns to "keep the rent low."
Nah, sorry, residential is only going up. The government needs to house all those illegals.
The government is our enemy.
They're going to start converting empty office space into refugee pods.
Companies are already waaaaaaaaaay ahead of ya.
Watch them shit and piss down the elevator shafts like the South Africans.
Or we could kill them and throw the bodies into the ocean.
I have some insights into this. First off, almost all the suburban companies are actually owned by the same company. If one goes down, the next one buys the assets and continues. So it's not money laundering per se, but it is a market run by a single group.
The second part is how much everything is based on the idea of growth. If they aren't selling homes for more and more expensive amounts, they can't continue. There's been a lot of speculation on when the tipping point t happens, but not real numbers.
A lot of places like inner city new York became a giant rich person area as things plummeted in the area. So the drop in prices means 20 years from now it will be even more expensive.
The best option is to build cheaper homes and sell them for cheaper. If you don't raise prices, but sell in bulk, then the entire market will have a hard time competing with you. This is where tiny homes, smaller homes, 3D printed homes and others come in. Trudeau wants 3D printed homes, while others are promoting smaller homes.
Meanwhile architects have big displays that are mostly facade for modern expensive homes. Keep in mind, these are just boxes with wiring and plumbing. There are programs that can do that pretty quickly. Heck, there are groups trying to get a GPT style house builder that can work with those programs. I will be part of a group researching that over the fall. I'm trying to prepare as much as I can.
So, wait 5 years and watch the prices plummet as the industry itself tries to get SJW money to stay afloat.
I'd love to see what abject horrors 3D-printed AI homes will bring. Maybe it'll achieve an IRL M. C. Escher staircase.
That's only possible if someone doesn't review it all first. Which means the Winchester House will be ordinary very soon.
Sure, but that's far from the only issue. We also have stupid regulations and government in general, as well as the overall economic meddling. Even with those forty million (who I agree shouldn't be here), houses should and could be more affordable than they are.
know why city councils and other government entities are meddling? because boomers own houses. if their property value drops for any reason they are underwater on their equity loans. they'll vote rezoning and continuing creation of regulations as they buy their 4th vacation home and tell you to pull yourself up by your bootstraps. just like they did. thankfully they'll be gone soon
Sorry, that's lazy bullshit. Boomers are allowed to own houses, and most don't own four vacation homes. Yeah, they had it easier than we do, which let them buy a house. And? They should have a house. I just want one too.
But acting like an older person wanting to live in a house they own is somehow entitled or screwing it over for everyone else is commie nonsense. I hear people I respect saying that; it's a common talking point, but I don't think it's well thought out.
Am I the only one who thinks they are doing whatever they can to keep the economy trudging along in a borderline zombie state so they can pull the plug if they fail to rig it to keep Trump out?
What? No, of course not, you Conspiracy Theorist™!
How could you believe such lies?! The economy is as strong as it's ever been. Listen, Jack, I'm serious. No foolin', the economy is great!
They've been hitting the economy with epi pens and adrenaline for the last quarter century or so. Same thing that happens to every empire that devalues it's currency.
Sure, but I think the past couple years have really taken things to a new level. Could just be my perception though.
It's the side effect of trying to control a complex, chaotic system. Kondratyev showed fairly definitively that the economy would do what the economy would want to do. Essentially, the economy is wanting to correct, and can't, because people are constricting financial actions (numbers go up).
Might there be a few politicos with enough hubris (or dumb enough) to think they can turn the economy on and off like a light? Sure. But I think a lot more think that if numbers keep going up, they get mo money.
The economy is the big deciding factor for presidential elections. That's why the DNC-controlled MSM (practically everything) have been so consistently lying about the 'economy doing great'.
And don't forget, a lot of people haven't forgotten 'The Great Recession'. They're still angry for all those lost years where they couldn't build families, afford homes or live life as they should have.
"Lying" is putting it mildly. Gaslighting is more accurate.
You're giving them too much credit. As we saw in 2016, these people are incapable of making contingency plans, which is why everything they've done since then has been insane clown world nonsense.
I think that's because they were truly caught off guard then. I think it was a real wakeup call for them. Sure, they definitely still seem desperate, but I don't think a move like that is out of the question.
that's exactly what they did to truss in the uk to get that foreign manlet in charge.
ESG has very little to do with it.
CRE has been a ticking time bomb for going on 2 years now. The leases are starting to come due and the owners aren't able to keep the ponzi scheme plates spinning.
Not to worry. They'll get a bailout thanks to the uniparty quislings.
We need a real opposition party.
The coof gave everyone the realization that most modern desk/spreadsheet jobs have no reason to be in person anymore. It impacted things like consulting where boomers would insist everyone fly in for projects when a majority of the time on site was the team quietly working in some conference room all day.
It hit the customers and tenants first. But the collapse will eventually work its way up the food chain. The elites forget that their position is based on having a stable foundation underneath them.
How many elites have a contingency plan of moving to a bunker in Hawaii or Argentina?
I asked AI (as is my wont) - and it failed to mention the one thing I think we all know is a major factor - white flight due to black violence. This is what it blames:
The value of commercial property in Chicago has seen a significant drop due to a combination of factors:
Pandemic Impact: The COVID-19 pandemic has reshaped the commercial real estate market, altering how businesses view and utilize office space. This has led to a shift in demand patterns, with Chicago facing a particularly steep uphill battle to regain its pre-pandemic vibrancy¹.
High Property Taxes: Chicago's commercial property taxes are significantly higher than the national average, with a tax rate of 3.78%. This places a heavy financial burden on businesses, affecting their operational costs and overall willingness to invest in office space within the city¹.
Decreased Demand for Office Space: A study by VTS highlights a continuous decline in the demand for office space in Chicago, suggesting a potentially prolonged path to recovery. This trend is especially concerning as it contrasts with some cities where demand has nearly returned to pre-pandemic levels¹.
Interest Rates and Borrowing Constraints: High interest rates have led to constricted borrowing, diminishing property values and putting commercial property sales on a downhill slope. In 2023, Chicago-area commercial property sales were down 44% from the previous year².
Discounted Property Sales: There have been instances of distressed office buildings being sold at significant discounts, such as an 89% discount for a property near the Willis Tower. This reflects the market’s volatility and the challenges property owners face in offloading distressed assets¹.
In response to these challenges, initiatives have been announced to revamp vacant downtown buildings, aiming to rejuvenate the area by repurposing buildings for various uses¹. These efforts represent a move towards recovery and growth for Chicago's commercial real estate market.
Source: Conversation with Bing, 21/04/2024 (1) Chicago’s Commercial Real Estate & An 89% Loss. https://www.reallawchicago.com/chicagos-commercial-real-estate-an-89-loss/. (2) Chicago-area commercial property sales down 44% in 2023. https://www.chicagobusiness.com/commercial-real-estate/chicago-area-commercial-property-sales-down-2023. (3) Chicago-area commercial property sales down 44% in 2023. https://bing.com/search?q=reason+for+drop+in+commercial+property+value+in+Chicago. (4) Local commercial property sales hit 10-year low - Crain's Chicago Business. https://www.chicagobusiness.com/commercial-real-estate/local-commercial-property-sales-hit-10-year-low. (5) Chicago commercial properties price gains among best in the world .... https://www.chicagobusiness.com/commercial-real-estate/chicago-commercial-properties-price-gains-among-best-world.
It didn’t even mention WorkFromHome?
I think that is covered by effects of covid (?)
The actual oligarchs will only benefit financially from not having to pay the upkeep on these buildings. When they have an army of low-paid work-from-home wage slaves whose private lives are being constantly invaded and surveiled by their corporate overlords, the profits will only go up.
The toxic loans absorbed by the Fed in 2008 are still on their books. They made a good dog-and-pony show how quantitative easing was only "temporary" and they'll sell the radioactive waste when the time is right, ignoring that no sane buyer will buy Jamal and Tyrone's mortgage-backed securities.