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re: The High Cost of a Home Is Turning American Millennials Into the New Serfs
Posted on 8/21/17 at 5:53 pm to Breesus
Posted on 8/21/17 at 5:53 pm to Breesus
quote:
bullshite. They just refuse to live within there means.
I've seen picture of the house my parents had until I was 5. It was a tiny 1 story shithole starter home way out in the suburbs.
You realize that in my area that house is worth $300k right?
1
Posted on 8/21/17 at 5:56 pm to cas4t
quote:
Millennials aren't buying any homes of any size,
Such a broad statement. I'm a millennial, and I'm friends with a large amount of millennials. I'm closing on a house this week, and several of my college educated friends have already purchased homes. We still travel though
I think your comment is probably true for millennials living large cities, but it's not easy to afford a 500k+ home regardless of age, though.
Posted on 8/21/17 at 5:57 pm to GreatLakesTiger24
I believe this is entirely based on where one lives. The cost of living in the South is stupid cheap, so it's pure laziness and living outside of means.
But the average price of homes currently listed in the Flathead Valley, where I live, is right at $375,000. In Whitefish, where I live to be exact, it creeps up to $492,500.
And these prices are based on a $201/square foot average.
It's impossible to find anything not falling apart under $150k, which is a typical price point for a first time buyer. But not here....
But the average price of homes currently listed in the Flathead Valley, where I live, is right at $375,000. In Whitefish, where I live to be exact, it creeps up to $492,500.
And these prices are based on a $201/square foot average.
It's impossible to find anything not falling apart under $150k, which is a typical price point for a first time buyer. But not here....
This post was edited on 8/21/17 at 6:02 pm
Posted on 8/21/17 at 5:57 pm to RogerTheShrubber
quote:
Go back one president. 76-82 was as bleak as it could be. I'll bet you would find a safe space if you had to pay 20% interest
Yes. And then the Fedral reserves raised interest rates to pull inflation down. The economy recovered. Reagan and his cronies sold that as his recovery and morons have been voting against their own interest since then.
Posted on 8/21/17 at 5:57 pm to NIH
quote:
We're talking about millennials in general, not people who live in Youngsville.
Don't hate!
Posted on 8/21/17 at 5:57 pm to bmy
quote:
You realize that in my area that house is worth $300k right?
A simple search of Nashville houses shows many sub 200k
You pay a premium to live in some areas.
Posted on 8/21/17 at 5:58 pm to CaptainBrannigan
quote:
Yes. And then the Fedral reserves raised interest rates to pull inflation down. The economy recovered. Reagan and his cronies sold that as his recovery and morons have been voting against their own interest since then.
No wonder your generation gets a bad rap
Posted on 8/21/17 at 6:03 pm to RogerTheShrubber
quote:
A simple search of Nashville houses shows many sub 200k
You pay a premium to live in some areas.
Listed sub 200k. Selling for 200k+ unless you live in a high-crime area. You going to drop 200k on this? There's an absolute dump across the street from my last place and it's listed for 285k
I think part of the stat is explained because millennials have only experienced an absolutely terrible economy and one that is thriving. Once it levels off more will buy
This post was edited on 8/21/17 at 6:08 pm
Posted on 8/21/17 at 6:07 pm to PNW
65-80 per sq ft in the decent parts of Gwinnett in ATL but millennials want to have their cake and eat it too. No rooftop parties or crazy boxcar adventures to be had in the suburbs.
They aren't priced out of home ownership. They are just priced out of the cool hip areas.
They feel entitled to live in a renovated historic craftsman style house minutes from the downtown business district.
They aren't priced out of home ownership. They are just priced out of the cool hip areas.
They feel entitled to live in a renovated historic craftsman style house minutes from the downtown business district.
This post was edited on 8/21/17 at 6:09 pm
Posted on 8/21/17 at 6:08 pm to bmy
150k
180k
159k
Posted on 8/21/17 at 6:08 pm to NYNolaguy1
quote:
With two kids day care is easily $2k+ a month.
Motherfricking day care man. People complain about the price of new trucks, but they're cheaper than daycare now.
Posted on 8/21/17 at 6:10 pm to Breesus
quote:
I've seen picture of the house my parents had until I was 5. It was a tiny 1 story shithole starter home way out in the suburbs.
Neighborhood demographics have changed substantially. Programs like HUD means that many starter home areas are now full of crime. The market also makes a huge difference.
I had a great starter home in NE Texas for <$130k. When I moved back to BR a couple of years ago, my realtor laughed at me when I wanted to look at houses in that price range. He said that he wouldn't feel comfortable selling me a home in those areas. Comparable neighborhoods to what I had before started at $200k.
Posted on 8/21/17 at 6:11 pm to RogerTheShrubber
If those are in Nashville send me a link because I'll buy it more likely they're 45 minutes away 
The median home value in Nashville is $231,400. Nashville home values have gone up 14.3% over the past year and Zillow predicts they will rise 4.1% within the next year. The median price of homes currently listed in Nashville is $339,900. The median rent price in Nashville is $1,700
more likely they're 45 minutes away The median home value in Nashville is $231,400. Nashville home values have gone up 14.3% over the past year and Zillow predicts they will rise 4.1% within the next year. The median price of homes currently listed in Nashville is $339,900. The median rent price in Nashville is $1,700
This post was edited on 8/21/17 at 6:15 pm
Posted on 8/21/17 at 6:12 pm to RogerTheShrubber
Damn if I could find that one in the middle in a good school district in sugarland I'd write the check tomorrow morning
Posted on 8/21/17 at 6:13 pm to bmy
quote:
The median home value in Nashville is $231,400.
Cheap for a city. Sounds like you can get a decent place sub 200k, like the ones I posted.
Have people lost the concept of starter homes?
Posted on 8/21/17 at 6:14 pm to PNW
quote:
150k, which is a typical price point for a first time buyer.
I don't know now a single person who spent 150k on their first home, unless you are talking about people who live in a trailer (which is going to be less than 150k)
Posted on 8/21/17 at 6:14 pm to Epic Cajun
quote:
don't know now a single person who spent 150k on their first home,
Maybe this is their problem.
Posted on 8/21/17 at 6:15 pm to GreatLakesTiger24
How much of this is due to lower rates of marriage, thereby making a house impractical?
Posted on 8/21/17 at 6:16 pm to RogerTheShrubber
quote:
Cheap for a city. Sounds like you can get a decent place sub 200k, like the ones I posted.
Have people lost the concept of starter homes?
And you missed the part where the median price of homes currently listed in Nashville is $339,900.
This post was edited on 8/21/17 at 6:17 pm
Posted on 8/21/17 at 6:17 pm to Epic Cajun
quote:
I don't know now a single person who spent 150k on their first home
We spent about 105k on our first home in '06. It was in the sticks near Walker and I seriously doubt it's worth 150k now.
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