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Started By
Message
re: The average 30-year fixed mortgage rate jumps to 7.50%
Posted on 4/17/24 at 11:36 am to stout
Posted on 4/17/24 at 11:36 am to stout
MBA refi index just about a 52 week high
in fact just about an 18 month high
taking place despite higher rates
this is a sign of desperate consumers draining equity from their homes at higher rates than their existing mortgage
in fact just about an 18 month high
taking place despite higher rates
this is a sign of desperate consumers draining equity from their homes at higher rates than their existing mortgage
0
Posted on 4/17/24 at 3:16 pm to JiminyCricket
quote:
For a 1400 sq ft house in my area, you're looking at around 250k ish.
For a 20 year old house?? Who said you had to buy new? And I’m no boomer, I’m X. You know, the generation that is responsible for all y’all spoiled entitled frickers
Posted on 4/17/24 at 3:52 pm to Sput
Yes, I was referencing houses built between 05-07 so pretty damn close to 20 year old houses. This has been done ad nauseum on here relative to your belief that housing is still actually affordable for younger people. Time and again, the math has been shown to reveal that housing is absolutely more expensive when adjusted for inflation than your generation. It’s a fact.
You can argue with it, you can blame young people for wanting huge houses if you want but it’s undeniable the fiscally irresponsible policies of our government has made home ownership much more difficult.
You can argue with it, you can blame young people for wanting huge houses if you want but it’s undeniable the fiscally irresponsible policies of our government has made home ownership much more difficult.
Posted on 4/17/24 at 7:12 pm to wutangfinancial
quote:
They're called Townhouses in my area
Who wants to live in a fricking townhouse? That ain’t the American dream.
Posted on 4/17/24 at 7:40 pm to stout
I waste plenty of money but the money I waste , with my salary as a single man, isn’t enough to buy right now. You can’t necessarily even sacrifice some then live in a basic cheaper house depending where you are because of other factors. Unless you are making 100,000 straight out of college and had a nice chunk of college job money stashed away, you aren’t buying in Baton Rouge. Anywhere decently safe, doesn’t have a starter house price. It just is what it is. Everything is ridiculous.
Things might go back around but while younger generations may have voted for people that caused this, boomers in civilian life have no clue. You can’t work at a hardware store and your wife stay home and sometimes sale Tupperware and buy a house. And most of Congress has been Boomers the last twenty years so … it is what it is. Nothing is more annoying than people bitching about generations. They all have their faults. After WW2 it was down hill. The better times, technology, etc didn’t help the human behavior so I don’t blame and just blindly throw out “ok boomer” and it’s not fair to call everyone a millennial. Pet peeve , the dumbasses I work with that are millennials who call the new kids millennials.
Things might go back around but while younger generations may have voted for people that caused this, boomers in civilian life have no clue. You can’t work at a hardware store and your wife stay home and sometimes sale Tupperware and buy a house. And most of Congress has been Boomers the last twenty years so … it is what it is. Nothing is more annoying than people bitching about generations. They all have their faults. After WW2 it was down hill. The better times, technology, etc didn’t help the human behavior so I don’t blame and just blindly throw out “ok boomer” and it’s not fair to call everyone a millennial. Pet peeve , the dumbasses I work with that are millennials who call the new kids millennials.
Posted on 4/17/24 at 9:45 pm to Hognutz
Yep..$205 a sq ft at 7.5% is nuts.,.we are waiting until we see 6.25% before we do anything.
Posted on 4/18/24 at 2:54 am to Sput
quote:
quote: For a 1400 sq ft house in my area, you're looking at around 250k ish.
For a 20 year old house?? Who said you had to buy new? And I’m no boomer, I’m X. You know, the generation that is responsible for all y’all spoiled entitled frickers
Try a 65 year old house.
Just searched my city (DFW area) - there are 2 homes for sale that are around 1500 sqft and under $250k.
House 1: 1250sqft, built in 1959, has some decent interior updates, listed for $240k
House 2: 1472 sqft, built in 1955, not updated, listed as a “fixer upper” for $225k
This is an older, very middle class area, the majority of the homes here were built in the 80s. I’m not talking about Prosper or any of the hot DFW growth areas. New builds in this area are -$500k.
Markets vary of course, but the fact that you assumed “Who said you had to buy new?” about a $250k price tag is laughable and shows how out of touch you are on housing prices.
Posted on 4/18/24 at 3:46 am to Hognutz
quote:
7.50% with current prices is just insane.
Then there are the other high dollar required add ons like homeowners insurance, flood insurance, property insurance, and PMI that are starting to make home ownership harder for middle income individuals.
This post was edited on 4/18/24 at 6:35 am
Posted on 4/18/24 at 6:35 am to AmishSamurai
quote:
but the genx
Screw you...don't blame me.
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