melchizedek on Nostr: Trying to buy a house right now and it makes me realize how fucked the housing market ...

Trying to buy a house right now and it makes me realize how fucked the housing market is. Bidding wars on a very limited inventory, with rates north of 6.5%, all while wages haven't caught up with the inflation the housing market has seen. My in-laws are seeing many good, single family homes in their neighborhood get bought up by hedge funds to rent. How is this affordable for anyone? How is this sustainable? If there's a catalyst for a revolution, this housing crisis would not surprise me in the least. I don't even live in a traditionally expensive market either.