re: Homebuilders cancelling contracts to sell for more on market

Bruh we talking the south not the Bay Area. Median income is like 50k. 260k is most definitely expensive for that area. Most can’t even afford it. Add it the high Texas taxes and good luck keeping up with the payments.

I remember when I bought my first home in 2005, the general rule of thumb was that you were supposed to spend no more than 3x your annual income on a home. Think about that now. Even someone making 100k would have a hard time staying within that unless they commute 2 hours or live in gangland. The median household income in the south is in the 40’s I think. Tell me where you can get a $120k house now.

Then on top of this, if you want a job paying $100k at some point in the future, for most people that requires college and taking on big time debt to pay for said college.

The whole thing is a joke and just another example of how the Boomers have stolen generations of wealth for themselves while letting the country collapse around them.

100% this is so infuriating to watch.


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And people wonder why more and more youth are at least willing to listen to the demnocrat ideas of socialism and the like

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They won’t be owning a house in socialism either. Nor will they own any of their parents shite when they die.

Bingo. I was 22, 8 months out of college, I think the interest rate was 6% or so, and it was a pretty decent newish 3BR in a decent neighborhood. That is absolutely impossible for young people now.

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Is no one allowed to save anymore, build their careers, and buy when the market suits them? How long do y’all think the current housing market will last like it is

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A long time. The main driver of the problem is the total lack of inventory due to decades of under building. Interest hikes are going to slow the increase but there will not be a huge crash unless we have a depression with massive unemployment, at which point everyone is screwed anyway.

And how exactly is anyone just starting out supposed to save for a house when inflation wipes out any gains they make each year?

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And how exactly is anyone just starting out supposed to save for a house when inflation wipes out any gains they make each year?

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This is killing me. I got a 25% increase in pay last year due to a job move. I’m still feel just as broke and buying a home next year looks much less likely.

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It isn’t a bubble. It’s the federal reserve. I will post this over and over and over again until I’m blue in the face. BlackRock and others with help from the federal reserve are buying up every house they can at prices your middle class American can’t afford. The bubble won’t burst because Black Rock won’t sell, they are turning them into single family rentals. Our own government is trying to wipe out the middle class. The “American Dream” is quickly dying because there is never enough money for the elite in America. They will fricking crush you into lifetime financial dependence with no escape if it means a few extra thousand for them. By the time most people wake up to it, it’ll be too late. And don’t bank on our corrupt as media bringing coverage to it. They are all in bed together.

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This is spot on. It’s ALL going as planned. Inflation, debt whether credit card or insane prices of higher education, the younger generation is fricked. And unfortunately don’t realize democrats who push for socialism are very much a reason why the system is in place.

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Tyler Perry was a kid from a broken New Orleans home that is now worth $1 billion.

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Hold on, your defense of the current economy is that a 50+ year old man from New Orleans is a billionaire?

Really?