₦airaland Forum

bolayei:
Atleast I don't have to be stuck in traffic for hours or catch the trains anymore or live in one town Monday to Friday and another over the weekend. Please what's the difference between that and living in Nigeria? Look some people don leave that life behind. Abeg who knows Adeleke in Atlanta with all his billions?

You are the bastard that can not see any good you can bring to your fatherland.

Mugu you still dey type....I don leave you go sleep, woke up, drove to office and you still dey display your generational curse on Nairaland. So now you are comparing yourself to Davido ? YOU MUST BE MAD!

nairalandposter:
What's this background? Its interesting.

www.nairaland.com/attachments/10391148_5da44f985ac08_pngcfacf4911db90d310919ccdfe009e4d8

Its just a bed sheet.

abbey621:
Don't tell me you're one of those that believes democrats bring prosperity and Republicans brings chaos? Lol...they're all the same! Atlanta is the capital so naturally it has to develop much faster than the Southern areas but places like Macon, Savannah and others are equally developed.

I’m not.

But I don’t really think being the capital really have that much of a thing to do with development.

For example

North Carolina State capital is Raleigh but Charlotte is more developed

Florida State Capital is Tallahassee but Miami is more developed

New York State Capital is Albany but New York City is more developed.

New Jersey Capital is Trenton but Newark is more developed

I have lived in all four states described above.

7Alexandre:
They should be able to lend as long as you have Good Credit plus a Good Job.

Home Prices are so high right now that the Government needs to take action to curb the High Cost of buying a New Home.

I don’t think a recession is a good thing but that’s one way I think the market can be forced to self correct due to the effect of a mild recession & the forces of supply & demand.

The government cant really control the prices of Home prices...how do you intend they do it?

Who are these people buying those High Cost Homes?...that is what needs to be contained.

If those buyers are not buying those High Cost Homes in doves the prices of those homes will be forced to come extremely down.

Beautyaddy:
The government cant really control the prices of Home prices...how do you intend they do it?

Who are these people buying those High Cost Homes?...that is what needs to be contained.

If those buyers are not buying those High Cost Homes in doves the prices of those homes will be forced to come extremely down.

By introducing National rent controlled measures just like we currently have in New York City.

You can read more about New York City rent control law.

Well I heard mostly Chinese & Russians who’re laundering money & are willing to pay cash prices are currently the ones driving up the cost of homes.

7Alexandre:
By introducing National rent controlled measures just like we currently have in New York City.

You can read more about New York City rent control law.

Well I heard mostly Chinese & Russians who’re laundering money & are willing to pay cash prices are currently the ones driving up the cost of homes.

Ok, but this does not control the price of Homes.

The price of homes is controlled by the Demand versus Supply.

Now people who want to rent and use it as an avenue to save money for future home buying is what the Rent Control helps with.

Beautyaddy:
Ok, but this does control the price of Homes.

The price of homes is controlled by the Demand versus Supply.

Now people who want to rent and use it as an avenue to save money for future home buying is what the Rent Control helps with.

Well since the Russians & Chinese are paying all cash maybe restrict the purchases of real estate to Permanent Residents & U.S. Citizens ONLY.

Also the use of LLC’s to purchase corporate housing must also be banned.

We need to know exactly who is buying what.

That might help crash the price but I’m not sure it will work though.

7Alexandre:
I’m not.

But I don’t really think being the capital really have that much of a thing to do with development.

For example

North Carolina State capital is Raleigh but Charlotte is more developed

Florida State Capital is Tallahassee but Miami is more developed

New York State Capital is Albany but New York City is more developed.

New Jersey Capital is Trenton but Newark is more developed

I have lived in all four states described above.

The former capital of Georgia was Savannah then Augusta. These places are also developed. Atlanta's case is unique, most people in Atlanta are not from Atlanta, population boom is in play here. Now we know that population often correlates with development and that is the case for Atlanta. More population equals more corporations and more jobs, this is the reason for the development not democrat or republican magic....lol.

Beautyaddy:
Ok, but this does control the price of Homes.

The price of homes is controlled by the Demand versus Supply.

Now people who want to rent and use it as an avenue to save money for future home buying is what the Rent Control helps with.

Canadian and Australian have taxes from non citizen or residents
metro Toronto renting a place has being hell for over 32 year
The prices of houses is crazy, I can't understand it

7Alexandre:
Well since the Russians & Chinese are paying all cash maybe restrict the purchases of real estate to Permanent residents & U.S. Citizens.

lol!...This suggestion will not fly in a Capitalist Country such as the US

Even Socialist Countries will not buy to such suggestions.

Now there's some States that help with buying some homes at a very reasonable price to first home buyers...I can't recall the name it's called...but I still believe that as long as the Demand for homes are high that alone is causing the market cost for homes to remain high.

Beautyaddy:
lol!...This suggestion will not fly in a Capitalist Country such as the US

Even Socialist Countries will not buy to such suggestions.

Now there's some States that help with buying some homes at a very reasonable price to first home buyers...I can't recall the name it's called...but I still believe that as long as the Demand for homes are high that alone is causing the market cost for homes to remain high.

There is restriction in Canadian and Australian

Beautyaddy:
lol!...This suggestion will not fly in a Capitalist Country such as the US

Even Socialist Countries will not buy to such suggestions.

Now there's some States that help with buying some homes at a very reasonable price to first home buyers...I can't recall the name it's called...but I still believe that as long as the Demand for homes are high that alone is causing the market cost for homes to remain high.

Well that’s why I said I don’t know if it will work.

I think the program you’re talking about only waives the down payment for first time owners which’s about 20% of the total purchase price of the home.

But you’re still required to make monthly payments until you complete the total cost of the home.

But that still doesn’t necessarily reduce the cost of buying a new home.

Infact I believe you end up paying more due to interest payments especially if the down payment is waived.

Beautyaddy:
lol!...This suggestion will not fly in a Capitalist Country such as the US

Even Socialist Countries will not buy to such suggestions.

Now there's some States that help with buying some homes at a very reasonable price to first home buyers...I can't recall the name it's called...but I still believe that as long as the Demand for homes are high that alone is causing the market cost for homes to remain high.

The demand is high because Chinese & Russians from overseas are paying for cash for homes worth Millions of Dollars.

Now the question now become how do we eliminate the Chinese & Russians influence on the Real estate market in the United States?

We need to come up with a solution in order to crash the market & make it affordable.

GoodFaith:
There is restriction in Canadian and Australian

Restrictions with what?

Prices of homes or what?

7Alexandre:
Well that’s why I said I don’t know if it will work.

I think the program you’re talking about only waives the down payment for first time owners which’s about 20% of the total purchase price of the home.

But you’re still required to make monthly payments until you complete the total cost of the home.

But that still doesn’t necessarily reduce the cost of buying a new home.

Infact I believe you end up paying more due to interest payments especially if the down payment is waived.

I don't think so though.

Isn't the interest rate you pay determined by your Credit Scores and the current interest rate of the Country being used by the Banks?

7Alexandre:
The demand is high because Chinese & Russians from overseas are paying for cash for homes worth Millions of Dollars.

Now the question now become how do we eliminate the Chinese & Russians influence on the Real estate market in the United States?

We need to come up with a solution in order to crash the market & make it affordable.

Hmmm... now that's a million dollar question that I have no idea of.

7Alexandre:
The demand is high because Chinese & Russians from overseas are paying for cash for homes worth Millions of Dollars.

Now the question now become how do we eliminate the Chinese & Russians influence on the Real estate market in the United States?

We need to come up with a solution in order to crash the market & make it affordable.

the market crash few year back it was 80% discount (US)
the market started coming back about four year ago
That crash made me the man I am today
Save all ur money, I am not sure if we will see anything like the last crash in our life time

Beautyaddy:
Restrictions with what?

Prices of homes or what?

taxes was place on non resident and non citizens

Beautyaddy:
I don't think so though.

Isn't the interest rate you pay determined by your Credit Scores and the current interest rate of the Country being used by the Banks?

Remember you’re being charged interest on the purchase price?

Let say the cost of the house is $500,000

If you paid the 20% down payment on $500,000 at closing which’s $100,000 then you’re only owe the bank $400,000 plus any applicable interest.

If you never paid any down payment on $500,000 at closing then you still owe the bank $500,000 plus any applicable interest.

If I’m only owing $400,000 as a result of putting out a down payment then I should be able to pay off my home faster compared to someone owing $500,000 who never put out a down payment.

Now the interest rate will depend on our credit rating plus the Prime rate being used by the Bank.

Beautyaddy:
Hmmm... now that's a million dollar question that I have no idea of.

Well that’s a problem.

The system is corrupt when foreigners can purchase Million Dollar Homes with Cash while Americans have to either get a 30 year Mortgage OR 20 year Mortgage to pay off their homes.

How do we address this issue? I simply don’t know.

7Alexandre:


I’m low key praying for a mild recession so everything can crash so poor men like us can be able to buy lol...

Housing affordability depends on factors which include:

1. Your income

2. Employment

3. Your location (some places have cheaper prices than others, obviously)

4. Your preference as per location.

Which of these factors are you struggling with at the moment?




Btw someone there was typing about US housing market but it's highly doubtful the person is even in the US, I could be wrong.

7Alexandre:
The demand is high because Chinese & Russians from overseas are paying for cash for homes worth Millions of Dollars.

Now the question now become how do we eliminate the Chinese & Russians influence on the Real estate market in the United States?

We need to come up with a solution in order to crash the market & make it affordable.

I'm sorry, this makes no sense at all.



The previous housing crisis was due to people buying homes they could not afford on their income, because they were offered deals where they could pay only the minimal interest as mortgage. When these interest only payments ended before the home buyers were ready and while their regular income remained the same, they were unable to make the payments and so there was a housing crisis.

For example, let's say you were paying a $150- $300 interest only mortgage on a house (hypothetically speaking) with an income of $2000 per month, then suddenly your payment ballooned to $2800 per month without warning. This is my understanding of what happened.

The Biggest Housing Boom In History Has Just Begun

https://www.forbes.com/sites/stephenmcbride1/2019/10/14/the-biggest-housing-boom-in-history-has-just-begun/#6e6e41be25b0

@ 7alexandre

Are you referring to this:

https://www.cnbc.com/video/2019/07/02/us-housing-market-strong-despite-decline-in-chinese-demand-redfin-ceo.html

Warning Signs That the U.S. Housing Market Crash Is Almost Here

https://www.ccn.com/warning-signs-us-housing-market-crash/

nairalandposter:
Warning Signs That the U.S. Housing Market Crash Is Almost Here

https://www.ccn.com/warning-signs-us-housing-market-crash/

Ok, Housing market crash
Do you have cash on hand to respond?
Remember banks will not be giving out mortgages - it will be very hard
Don't invest on condo because of the HOA fee

ajl:
And down the road they become oppressed just like any African-American and Black Briton. Maybe the first generation may pick some of your culture but from the second generation down they will be no different from African-Americans or blacks in Europe who are daily sent to prisons for minor crimes compared to white, some even killed in their home by white cops. And if their population get too much, their "master" could choose to obliterate some of them systematically from the face of the earth.

You all do not know you are under continuous attack in Africa and elsewhere you choose to run. As your master perfectly describe you, most of you only have the power of the Now but not the vision of the future. You are virtually owned because your narratives is in the hands of your master.

oh please!

save that crap for lawma
Nigeria is on a self inflicted, self destructive path.

the very fact that things are unravelling in Nigeria is testament to that

So like i said once again
save that trash for lawma.

sulaak:
Rubbish revisionist.

Nigerian willingly sold their tribal rivals as slaves. The British had to literally bomb Nigeria coastal ports to end slavery and force the local chief to replace slavery exports with cash corps. After 60 years of independent, how far has Nigeria developed as a country with $100 billion in debt on a $30 bn budget, the country is virtually on its knee's. The smarter Nigerian are wisely jumping ship before it's sinks. You are correct on Lugard description of black African.

don't mind that guy

Fight for which country?
or which continent?

the vast majority are content with the B.S. going on

and they will be the first to destroy whoever tries to initiate change in the system

The same dumbfvcks that cried "free naira marley" keep quiet and even support the oppressor while Sowore rots in jail

the minority sensible ones in Africa are done with this foolishness and are jumounh ship

The short term thinking of most Africans will lead to its undoing