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re: Monthly mortgage payment based on a median existing home is now at a record $2,322
Posted on 8/24/23 at 9:20 am to fwtex
Posted on 8/24/23 at 9:20 am to fwtex
quote:
When Democrats say things, you better listen and you better believe there agenda is exactly what they say.
It's pretty amazing to me that they don't even have to lie and deceive anymore. They say that are getting rid of the middle class and conservatives, and they just do it now.
0
Posted on 8/24/23 at 9:20 am to Thib-a-doe Tiger
quote:
Within my budget, which is where most of these people have gone wrong.
Yea people are stretching themselves way too thin. Everybody wants their first house to be the big ole house that everyone else envies. Nobody wants the starter home anymore because it won’t be cool for social media.
Interest rates were close to 20% in the 80s, but for some reason we’re approaching Armageddon now while they’re at 7-8% and this generation is “in such a bad spot” lol
Posted on 8/24/23 at 9:20 am to Bayou_Tiger_225
quote:
The young folks these days are getting fricked over and you, Rodger, and a few other posters are just too willfully ignorant to see it.
all I've got to go by is watching how my daughter and her friends are coping(all Millenials by dob,) and they seem to be kicking arse
Posted on 8/24/23 at 9:20 am to Thib-a-doe Tiger
What does that go for, $140k?
Posted on 8/24/23 at 9:20 am to QJenk
quote:
This is absolutely insane. Most people aren't actually doing this, right?
Probably not, as there's zero shot in hell banks are going forward with that.
Posted on 8/24/23 at 9:21 am to SammyTiger
quote:
what do you sell?
Well, I am not telling you that. I don't want competition.
Posted on 8/24/23 at 9:22 am to tigerfoot
quote:
My daughter and SO both got STEM degrees, both kept their scholarships through school and got out with zero debt. Both enjoyed college, Greek organizations and kept part time gigs to help with spending money. They make damn near 200k, both saving roughly 20%. They are in ten times the better position I was in in my mid-late twenties. They are looking at homes, and could go out and get a 500k home, they are looking at 180k homes. This thing is easily manageable, nothing has been taken away from the young people. Just do what the hell you are supposed to do and make good decisions and you are living a very successful life and retiring young.
Yep… if you have dual income in the top 20% of Americans, graduate college with no debt, and have no kids… even you can afford a $180k house!
This post was edited on 8/24/23 at 9:23 am
Posted on 8/24/23 at 9:22 am to TackySweater
quote:
Everybody wants their first house to be the big ole house that everyone else envies. Nobody wants the starter home anymore because it won’t be cool for social media.
Interest rates were close to 20% in the 80s, but for some reason we’re approaching Armageddon now while they’re at 7-8% and this generation is “in such a bad spot” lol
Same stupid takes every time this thread comes up.
Posted on 8/24/23 at 9:22 am to Bayou_Tiger_225
quote:
Young person needs a new car be a their high school junker finally gave out. Any decent used car is $25k
Younger person has to move out of their parents house. They don’t have enough money saved so they have to rent. Rent is stupid expensive so they can’t save enough money to put together a large down payment, so they put together 3% on a cookie cutter DSLD start home that is now selling for $320K.
That doesn’t sound like keeping up with the Jones’s. That’s just trying to live a regular life.
I'm young(ish). I get it. How many of those young people are on $1,500 phones that they replace regularly? Or taking vacations to places they can't afford?
For every person who is putting everything they have in trying to survive, there are multiples living outside of their means.
Posted on 8/24/23 at 9:22 am to stout
Until people understand why and who caused this it will continue the trend.
Posted on 8/24/23 at 9:22 am to lsupride87
quote:They voted for it. Let them feel the pain of their choices.
another generation has it harder from a macro level
I have no issue admitting those younger than me have it worse.
Posted on 8/24/23 at 9:23 am to tigerfoot
$180k? That wouldn’t get you a starter home in a shitty Houston suburb.
Posted on 8/24/23 at 9:23 am to 777Tiger
quote:There were people that kicked fricking arse in the Great Depression too
all I've got to go by is watching how my daughter and her friends are coping(all Millenials by dob,) and they seem to be kicking arse
It’s just unreal you have zero concept how to grasp this simple concept that just because an overall group has a worse position, that doesn’t mean it’s impossible at the individual level to still succeed
Posted on 8/24/23 at 9:24 am to NIH
quote:
What does that go for, $140k?
Probably 425 if I had to guess. I also didn't buy it when I was 22. I was well into my 30's
Posted on 8/24/23 at 9:24 am to lsupride87
Someone should send him the definition of ‘anecdotal’
Posted on 8/24/23 at 9:25 am to tigerfoot
quote:
They make damn near 200k
quote:It is certainly manageable with a household income of $200k. That isn’t the norm for most in their 20’s or early 30’s.
This thing is easily manageable
Posted on 8/24/23 at 9:25 am to NIH
quote:
$180k? That wouldn’t get you a starter home in a shitty Houston suburb.
I found a 155K townhouse for sale on zillow as the first result.
Posted on 8/24/23 at 9:25 am to stout
quote:
The wife and I started a new business on the side and just started selling last month on Amazon and Walmart and it's growing every day. Kicking myself for not doing it sooner. Our first full month we cleared around $3500 and worked on it for about 5-6 hours per week.
I’ve been thinking about doing this but am just kind of unsure of how to start. Did you follow any specific plan or anything? I mean I know there’s lots of step by step material out there but just curious.
Posted on 8/24/23 at 9:26 am to stout
My wife works in the real estate division of a law office. The things she tells me she sees all the time is just crazy. People are signing up for mortgages of $400 and even $500K with 7% interest rates and their monthly gross income is maybe $10K at best. How are these people living? You have to figure they have things like car payments (which are also astronomical now), credit cards, utilities, insurance, cable/streaming, plus day to day stuff like groceries and all the other stuff that just comes with living life. I guess these people will live “house poor” as long as they can. But I don’t see how they can keep it up for 30 years. And what about retirement? I guess they’re planning on working until lunchtime of the day of their funeral.
Posted on 8/24/23 at 9:26 am to lsupride87
quote:
It’s just unreal you have zero concept how to grasp this simple concept that just because an overall group has a worse position, that doesn’t mean it’s impossible at the individual level to still succeed
so this really isn't a discussion, it's "if you don't see it my way you're old and a dumbass," have a good day, I'm out
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