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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 2:18 pm to tirebiter
Posted on 8/24/23 at 2:18 pm to tirebiter
quote:
It's like people believe mortgage rates were always below 4% in the past when the range for decades was between 5% to 10%. It's not like 7%+ has never happened before nor can you purchase at 1980's era prices.
That's a very shortsighted way to look at it. The home price to income ratio in the 80's was nearly half of what it is now. It's not just about interest rates.
It's about high house prices AND high interest rates AND low wages.
Also throw in higher living expenses like food, gas, etc.
This post was edited on 8/24/23 at 2:20 pm
0
Posted on 8/24/23 at 2:22 pm to Chromdome35
quote:
My $1400 mortgage looks pretty damn good right now.
So did ours, but sometimes life says you got to move whether you want to or not.
Posted on 8/24/23 at 2:22 pm to alajones
quote:
Even in Huntsville, which is booming, there are plenty of 3 BR houses less than 200k that are move in ready. They just aren’t in neighborhoods where people want to live. As big as a problem as housing prices are, the problem is exacerbated by a shrinking zone of interest for buyers. That’s something that should be addressed that is overlooked with these generational income inequality debates.
That’s another thing. In the last twenty years towns and cities throughout the south have been hollowed out by “white flight”. I’m not blaming anyone for making a personal decision about where to live, but it’s true this has made things worse overall.
Somehow we have to achieve some semblance of racial healing so that we can live together in the cities built by our great grandparents. Or instead everyone will keep living for themselves and things will get worse and worse.
Posted on 8/24/23 at 2:23 pm to TDTOM
As a Starbucks mom, my coffee habit is usually $5 or under total when I go
I am also not a poor and own a home
I am also not a poor and own a home
This post was edited on 8/24/23 at 2:24 pm
Posted on 8/24/23 at 2:24 pm to alexahet
Hey Alexa! How's the kid?
Posted on 8/24/23 at 2:26 pm to fr33manator
Which one? Just had the second last month! 
they’re both doing great.
How have you been?!
they’re both doing great. How have you been?!
This post was edited on 8/24/23 at 2:32 pm
Posted on 8/24/23 at 2:28 pm to BabyTac
(no message)
This post was edited on 8/24/23 at 2:30 pm
Posted on 8/24/23 at 2:32 pm to Earnest_P
quote:
What I’ve seen lately is them still getting paid in advisory roles after they “retire”.
I see this all over my industry.
They'll "work" until they're 70+, then take a slight pay cut to be a "consultant" until they die.
It's a free country so it's their right to do it, but it really is a hindrance on the individuals underneath them trying to progress the business and move up/earn more money.
Posted on 8/24/23 at 2:34 pm to tigerfoot
quote:
they are looking at 180k homes.
Unless they live in Ohio, no they aren't.
Posted on 8/24/23 at 2:37 pm to Areddishfish
Can’t even get a trailer in my city for that
Posted on 8/24/23 at 2:41 pm to Areddishfish
Pretty sure he ended up saying it was in Ohio. He said where it was if you go back through his posts
Posted on 8/24/23 at 2:44 pm to alexahet
2!? They are so fun! Enjoy them while they are little. Time flies!
Posted on 8/24/23 at 2:47 pm to Jcorye1
quote:
Life will be a lot better when interest goes back down to 4%
From everything I've read over the last several months, we ain't seeing those rates again anytime soon
Posted on 8/24/23 at 2:57 pm to BabyTac
quote:
BabyTac
You’re up there with the dumbest posters on this board
Posted on 8/24/23 at 3:06 pm to fr33manator
I will! I ended up with serious complications so we are not able to have more - which means I am soaking up every second I can
Posted on 8/24/23 at 3:18 pm to QJenk
quote:
quote:
On a post tax basis, the median new homebuyer is spending close to 70% of their income on monthly payments.
quote:Hell no, lenders/mortgage companies aren't in the business of doing this either.
This is absolutely insane. Most people aren't actually doing this, right?
Posted on 8/24/23 at 3:25 pm to Rip Torn
quote:
You can’t be serious? CC debt is at an all time high
So what?
It literally only goes up in this country in times of economic expansion. The only time CC debt goes down in this country is if we’re in a recession or if we give out government stimulus checks.
quote:
that disposable income figure doesn’t begin to include groceries, fuel, and utilities costs which have eaten up that disposable income
I’m not arguing otherwise.
My only point is that people bitching about how difficult it is to buy a house now as if we didn’t just live through the greatest decade to ever buy a home are being disingenuous.
Posted on 8/24/23 at 3:27 pm to BayouNation
Stop Blackrock, MetLife, etc. from buying houses.
Posted on 8/24/23 at 3:30 pm to BabyTac
Daddy buying you some ice cream? You are his little baby tac amirite?
Posted on 8/24/23 at 4:12 pm to Greace
quote:they should have gone to school to become an engineer or doctor. frick em
Somebody has to be the trashman. Are they just supposed to work two jobs?
teachers, county/city workers, carpenters, laborers, cops, and firefighters too
-much of the OT
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