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U.S. home sales fade in June as national median sales price hits an all-time high of $435,300

⁨66⁩ ⁨likes⁩

Submitted ⁨⁨1⁩ ⁨week⁩ ago⁩ by ⁨return2ozma@lemmy.world⁩ to ⁨aboringdystopia@lemmy.world⁩

https://www.nbcnews.com/business/real-estate/us-home-sales-fade-june-national-median-sales-price-hits-time-high-435-rcna220594

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Comments

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  • gravitas_deficiency@sh.itjust.works ⁨1⁩ ⁨week⁩ ago

    Jesus tapdancing christ. National median house price is near on a half fucking million dollars.

    Anyone who wants to buy in or near an urban area: good fucking luck

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    • scottmeme@sh.itjust.works ⁨1⁩ ⁨week⁩ ago

      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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      • gravitas_deficiency@sh.itjust.works ⁨1⁩ ⁨week⁩ ago

        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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  • The_Jit@lemmy.world ⁨1⁩ ⁨week⁩ ago

    Median household income in 2023 was $80,610. Which makes the median host 5.5 times the median household income. www.census.gov/library/…/p60-282.html

    When I bought my house about 12 years ago the bank said they would lend 4x household income. How are people even buying houses at this ratio?

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    • neomachino@lemmy.dbzer0.com ⁨1⁩ ⁨week⁩ ago

      My wife and I are in the process of buying our second home. When we went to get preapproved we were worried we wouldn’t qualify for the mini farm we were looking at. We qualified for more than we needed just on my income alone. I make $78k a year and they said they’d give me close to $500k. Those payment would be almost my entire monthly paycheck.

      It’s predatory.

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    • altec@midwest.social ⁨1⁩ ⁨week⁩ ago

      Many sales are to landlords or private equity.

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    • Obi@sopuli.xyz ⁨1⁩ ⁨week⁩ ago

      And that’s with maxing out your mortgage allowance, which I honestly wouldn’t recommend if you can avoid it.

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  • geneva_convenience@lemmy.ml ⁨1⁩ ⁨week⁩ ago

    Bubble goed pffff pfff

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