this post was submitted on 28 Feb 2025
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[–] Cloaca@mtgzone.com 81 points 2 weeks ago (22 children)

As a millennial that was somehow able to afford a house this bubble needs to fucking pop.

I'll be locked into this house until I die and all of my friends and family will have to keep moving further away as they get priced out of their apartments each year. Before this I had moved 8 times in 6 years.

[–] MrQuallzin@lemmy.world 14 points 2 weeks ago (20 children)

Also a millennial. Wife and I got our condo right before everything shot up, got a nice 3.25% APR. Great mortgage honestly. But we've been trying to sell our condo for a YEAR now and I honestly think it's the bubble holding back a sale. The condo is just too expensive for what it is (and the horrific rise of small community HOA fees has gotten way out of hand...). We're priced right compared to others on the market, but selling condos is just stupid hard right now.

Sure I'd love it if we could sell now and get some nice profits from the sale, but I absolutely agree this bubble needs to pop!

[–] blandfordforever@lemm.ee 13 points 2 weeks ago* (last edited 2 weeks ago) (16 children)

Complains that bubble needs to pop. Is trying to sell a condo but has it priced too high to attract any buyers. Doesn't lower price.

My dude, your desire for more money is the bubble that's holding back the sale.

Your scenario is a microcosm of the whole market.

[–] mapiki@discuss.online 3 points 1 week ago

I would argue that someone can't sacrifice their future ability to buy just to lower the price on a single unit.

They're stuck by the incentives of the situation just like everyone else.

We can't expect anyone to act outside their own good when it comes to huge amounts of money. Especially in a capitalist society where the only thing that protects your quality of life is money. No one is going to step in when things go wrong except your decision to protect yourself and your family by making financially beneficial decisions.

And yeah, that sucks when you are the other major portion of our society who isn't given the resources to grab that protection/money with both hands and not let go.

And on a more solution oriented note:

  1. We need increased supply of dense housing appropriate for the average family, for the 20-30 yr olds who simply need a single bedroom, and for the retirees who need a small place to live after their children move out. Dense housing because driving an hour to where your job is makes sense to only a very small fraction of people and cities are continuing to attract people.
  2. Increased pay for the average worker - probably requiring a decreased incentive to drive profits above all else for the large corporations that drive the majority of our market. (Thinking of examples like Walmart that pay minimum wage and then require their workers to receive government subsidies... meanwhile Walmart gets a profit. It's a little circular.)
  3. Kindness so we can all share our stories and think of solutions that change the structure and don't require individuals to act outside their own interest. If we shut down conversation we're no better than our silly two party system that seems to make enemies out of each other. Listen and sympathise and learn what each person has been able to build. Don't be each other's enemies. That's letting the system we're in win.
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