Housing bubble.

[NOOBY93]

So your advice is to buy into bubbles?

I don't have advice nor a degree in economics, it's ok to just... not know things sometimes bruh

[Jalpha]

So why are you giving me advice?

[jordancoles]

People are greedy I guess. There was a lot of tax revenue made from this situation and I'm sure savvy investors will have bailed and moved onto other things well before they have lost much wealth. So even the government was encouraging this situation by reducing planning approvals and driving up demand. Spring here has been a period of high rates of property turnover but for the first time in ages supply exceeds demand. It's a little disturbing that this trend was initiated so close to the housing collapse in the USA. China put laws in place preventing their investors from continuing to invest in the property market here some years ago now. It's on the same tier as the bitcoin fiasco. Lots of small minded people buying up at inflated prices.

Personally I'm well insulated financially and may actually profit from this as investors move out of property and into shares instead. I've been waiting ten years for this. I just feel bad for all the mindless little people. It will be interesting to watch in any case. There will be a lot of opportunities and money will be made and lost as market volatility increases. I suspect this is housing bubble 2.0, building upon what was learnt from the collapse in the USA. Undoubtedly the effects will be much softer.

Those damn fools with their silly economy degrees and their stupid trading experience, wasting their money on real estate while I snicker and smile from my '98 Ford Fiesta and slyly sponge my body just waiting for the opportunity to give those smallminded worms a big "i told you so" as i get rich and rent my own living quarters.

"I've been under this bridge for 10 years now (by choice), waiting patiently for my chance to walk up to those idiot fat cats who have wasted these years in their big houses with their fancy cars and their poor naive spouses to give them a piece of my mind. Stupid simpletons. While they were out investing their hard earned corporate paychecks and vacationing with their families, I was studying the blade."

[VDZ]

so the banksters can't fuck you over completely and eternally.

Isn't that the entire point of a consumer loan?

[Ysh]

I hope it is true there is some bubble so that it can pop and I am able to purchase these lands for very cheap pricing. But after I own these, I hope this bubble will come back again.

[Jalpha]

I like how upset some of you get when anybody does anything that doesn't conform to your world view. Yes some of you are very small minded. Yes I will gloat. It's payday baby!

[Infinity-Production]

I am in norway, not too sure about marketing, house value etc but i think the house values is going up here.
I bought my very first house now and i am moving in to it in october, I worked and saved up for a loan on my own.
Soon after i have moved in, i will rent out a few rooms as well, should be more than enough to cover all bills and mortgage.
If my calculations and gut feeling is right, i should be able to pay it off in 7 years +/- 2 years.

After this house is payed off, i might buy another one, or sell my old house then buy a bigger one or build a new one myself.
For those wondering, i am soon 29 and took me about 3 years to save more than 25% of the loan.

[julian12it]

I am in norway, not too sure about marketing, house value etc but i think the house values is going up here.
I bought my very first house now and i am moving in to it in october, I worked and saved up for a loan on my own.
Soon after i have moved in, i will rent out a few rooms as well, should be more than enough to cover all bills and mortgage.
If my calculations and gut feeling is right, i should be able to pay it off in 7 years +/- 2 years.

After this house is payed off, i might buy another one, or sell my old house then buy a bigger one or build a new one myself.
For those wondering, i am soon 29 and took me about 3 years to save more than 25% of the loan.

Congratulations. Hope you can keep striving and achieve the goals you've set out for yourself. I don't know how the "renting" rates in Norway are but one thing you can always count on is having property. As the world keeps growing and keeps extending our lives longer and longer (insane how people are living past 100' so easily). One day there won't be a house to buy, there won't be a land that's not purchased. Even if you can't enjoy the riches now, pass it down.

[Granger]

one thing you can always count on is having property.

Quite some people in the eastern provinces of Germany might disagree (there you can buy complete small villages for less than what a flat in a city costs, should you want to live in a nazi infested nowhere) as their property is worthless (bordering negative, as they can't sell it even if they wanted to as there are no takers - but have to continue to pay taxes on it).

[MagicManICT]

but one thing you can always count on is having property. As the world keeps growing and keeps extending our lives longer and longer (insane how people are living past 100' so easily). One day there won't be a house to buy, there won't be a land that's not purchased.

And on "that day" it will all go back to "government owned land," anyway, and so much for all that property you bought. Let's not forget to mention eminent domain laws. If you're right in the way of where the city or state needs to put a new road, say good bye to your house. Sure, you might get a fair market value for your home, but depending on various factors, it might be little more to pay off the mortgage and put a down payment on the next home.

Oh, and you never truly own it. Fail to pay your taxes, and find out who truly owns that land.

On the less "serious" side, there's no major advantage to either owning or renting property. They come in around about the same monthly. Studies have been done. The idea of property as "investment for an inheritance" is a bit of a joke if all you're talking about is a personal home. Odds are it'll have to be mortgaged off to pay medical bills at the end of life. If you want to provide any descendants an inheritance, best to invest wisely in something other than real estate, too.