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re: The ‘growing crisis of the young American male’ could send home prices falling for years
Posted on 4/3/24 at 10:45 am to ragincajun03
Posted on 4/3/24 at 10:45 am to ragincajun03
As an unmarried 26 year old male, I'm not living at home but I'm also not a homeowner. Young men aren't living at home, they are just renting someone else's house or in an apartment. I make a decent salary for a young adult, and there's no way I would buy a 1700 sqft house for $400,000 like the market is forcing buyers to do today. Young men being smart with their money isn't a crisis. The value of the dollar falling by 31% over the last decade and a 6% federal interest rate is the crisis.
1
Posted on 4/3/24 at 10:47 am to Saunson69
quote:
Housing prices shot up way too high compared to average salary, there really isn't anyway it can stay high if people can't afford it. It will always have to bend back to what people can afford or companies/people that own houses will just hold onto houses, paying bills, and getting nothing for it.
you are assuming that we are still living in a normal, capitalist country in which supply and demand follows basic principles. we now live in an america where if someone cant afford a house, they are being oppressed. or if they arent able to pay their note, they are being oppressed. also, who's to say they wont just do the same thing that the auto industry has done, which is just offer ridiculous financing stretched out over a zillion years so that every fricking moron making $25k a year can buy a brand new F-250?
we live in clown world now, where up is down and down is up. i have zero confidence that the housing market will self-regulate back to a more normal status. the federal government nanny state is just itching to start offering "home loan forgiveness" so buy more votes.
Posted on 4/3/24 at 10:48 am to bad93ex
quote:
Do we have tens of thousands of incels just playing video games all day?
Tens of millions***
Posted on 4/3/24 at 10:48 am to Saunson69
quote:
Needs to happen. Some of these houses aren't worth a fraction what they're listed for.
Well we will see I guess. Where I am, there is no let up in demand or prices, at least in the desirable parts of town.
Posted on 4/3/24 at 10:49 am to bad93ex
Dreamers are trying to be streamers
Posted on 4/3/24 at 10:53 am to Bunk Moreland
quote:
Do we have tens of thousands of incels just playing video games all day?
Poliboard makes a lot more sense now.
Posted on 4/3/24 at 10:55 am to ragincajun03
Gonna have some people seriously in their feelings when the house they bought during Covid doesn’t appraise for anything close to what they bought it for
Posted on 4/3/24 at 10:56 am to bad93ex
quote:
Why should they pay the exorbitant prices for a home? My sons can stick around along as they're pulling their own weight.
Yep.
Makes more sense than buying a house for one person.
Posted on 4/3/24 at 10:56 am to ragincajun03
Look what yall did to these dudes.
Cucked them up big time!!
Cucked them up big time!!
Posted on 4/3/24 at 10:59 am to Bestbank Tiger
You don't have to spend $400k to not live with mommy and daddy.
Or you can say "damn this sucks I'm 18 and living at home" like I did and joined the military.
Or you can say "damn this sucks I'm 18 and living at home" like I did and joined the military.
Posted on 4/3/24 at 11:00 am to Fat and Happy
quote:
Gonna have some people seriously in their feelings when the house they bought during Covid doesn’t appraise for anything close to what they bought it for
100% agreed.
I find it fascinating when I see people in their 50s buying a home. I guess their kids will not inherit anything.
Posted on 4/3/24 at 11:02 am to ragincajun03
Once again, it’s the economy driving this, not some social revolution. People often mistake the effect for the cause.
Posted on 4/3/24 at 11:04 am to Fat and Happy
quote:
Gonna have some people seriously in their feelings when the house they bought during Covid doesn’t appraise for anything close to what they bought it for
Could be true for people that speculated, went the AirBnB route, etc. But mostly, buyers during Covid locked in extremely low rates and have already seen big increases in home values. I was in the market in 2020, and based on what I was looking at, prices are a lot higher now.
This post was edited on 4/3/24 at 11:06 am
Posted on 4/3/24 at 11:04 am to jizzle6609
quote:
I find it fascinating when I see people in their 50s buying a home. I guess their kids will not inherit anything.
That right there is the entitlement mindset that is preventing the rugged individualism that defines being a man.
Young people basically in a holding pattern waiting for relatives to die off so they can actually own something.
fricking pathetic.
Posted on 4/3/24 at 11:05 am to SloaneRanger
quote:
I was in the market in 2020, and based on what I was looking at, prices are a lot higher now
It’s very likely that prices will be considerably higher in 2028 than they are in 2024, especially if rates are lower.
Posted on 4/3/24 at 11:06 am to fallguy_1978
quote:
If so many young men are single, how are there not just about the same number of single women?
There are. But, as the article notes, single men are more likely to live at home while single women are more likely to buy their own house. Thus, single women would not have a significant impact on housing price decline.
This is sort of comical. We have massively under built homes since 2008. 20% of males living at home is not going to cause a decade long significant housing price decline.She is just making stuff up to point out males are living at home longer, which is known by everyone. It allows these men to save money, and therefore be able to afford a home at a young age even when single. Her hypothesis is unsupportable and will be proven wrong.
She was right about CITI needing to cut their dividend right before the banking crisis, but given credit for predicting the whole thing. She has been wrong about a lot since, including predicting $100s of billions in municipal defaults that never occurred.
This post was edited on 4/3/24 at 1:07 pm
Posted on 4/3/24 at 11:06 am to jizzle6609
quote:
find it fascinating when I see people in their 50s buying a home. I guess their kids will not inherit anything.
Imagine needing your family to die to own something of your own.
Posted on 4/3/24 at 11:08 am to ragincajun03
The biggest growing demographic in America is single childless males aged 25-35 living with their parents
Its called the ‘Incel Boom’ and national marketers are already targeting them
Its called the ‘Incel Boom’ and national marketers are already targeting them
Posted on 4/3/24 at 11:10 am to Bunk Moreland
quote:
Do we have tens of thousands of incels just playing video games all day?
The elephant in the room is the white male suicide /overdose rate that's skyrocketing. This is what's contributing a lot to the family formation stats.
Posted on 4/3/24 at 11:10 am to ragincajun03
There are fewer competent males, so those competent males get the girls and houses.
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