Back in 2011, everyone was predicting permanent real estate crash because of student loans.

I remember the very bottom of the housing market, 2012. Who will buy these houses, they asked. Millennials all live with parents and have crippling student loan debt. They will not be able to afford to move out of parents home. Entire generation unable to afford a house. They can’t even afford to rent. They won’t have kids either. Suburbs are dead. RIP.

Add to the mix the “peak oil” nut jobs, who were calling for “death of suburbia” since 2002. They’ve been calling for RE crash for decades now.

What ever happened to that? A decade later, student loans are higher than ever. College costs more than ever. Can someone with student loans speak to this? Today, it seems student loans are a non-issue. And RE was strong from 2012-2019 even before COVID and loan forgiveness.

Just think, today, there is a new generation of angry delusionals who now calling daily for an epic crash.

They are convinced this is 2005 again, even though most were in diapers back in 2008, and have zero idea what 2005 was like. They claim everyone who buys a house today earns $12/hr and has put down 1% and 450 FICO. They are still waiting for the foreclosure tsunami that will never come.

The older ones are even tragic, as most of them also were perma-predicting crash in 2012, 2015, 2017, 2019, 2020, and of course, 2021.

For comedy gold, so see their posts in rebubble, That sub has aged really badly. They are the reason rental demand will never wane, as some are destined to be lifetime renterz. If you tried to sell them a house for $5, they are the ones who say that’s overpriced, ain’t worth more than $1.75 ! LOLZ

A new generation of fools is at it again. Now, trying to project global population trends over the next 100 years and trying to calculate global warming trends over the next ice age so they can time buying their 3BR ranch. can;t make this stuff up

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How could they get it so wrong? Where is the money coming from today?

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Married couple buys starter condo or home 5-7 years ago. Banked $200k cash profit equity rolled into the house. They may roll that into a starter house for another 5-7 years. Adjust numbers for your local area.

$100k gift from husband’s parents. Chump change.

$100k gift from wife’s parents. Chump change.

Already at $400k cash. Not yet counting a penny of savings from the couple. Or income.

Stock market is up 400%. Many over 35 easily worth $1mm each, just from the last few years. But, let’s say they gambled it all away on coke.

Salary $150k each? $300k income can comfortably borrow another $600k mortgage. Borrow $250k on top of the $500k equity and gifts. $750k house is a joke for a lot of people. Doesn’t even dent the savings. And is easily bought with little mortgage.

Most RE buyers are not first time buyers. Everyone has equity rolling over from starter condos and starter houses. Financially illiterate just sees the end product, not the pyramiding to get there. There are many people in million dollar homes who never earned over $75k in their life.

People could buy 5 houses if they wanted.

submitted by /u/TriggBaghodlerRltr
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