re: 1955 house ad: $7450 for 3B 1B

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fareplay

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You wouldn't even have that as a storage shed.

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There is no “affordable starter housing” in 2025

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Millennial “starter” home:



Boomer starter home:

1960, parents built a 4 br 2 bath story and half on corner two lots for $13k including land which had 10 large red oak trees in the front yard.

in 1970 we moved into home built in 1958 in a good neighborhood, plant managers, state supreme court justice and the like were neighbors. 3 Br 2 Bath, 2700 sq feet, on 2-/12 lots My bedroom was at the rear of the L shaped home and was 14; x 28; built for 4 boys. $28K

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When you younger generations finally have all the money and are sitting at death’s door

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What money?

My kids will need the GI bill for anything past public high school.

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When you younger generations finally have all the money and are sitting at death’s door

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What money? My kids will need the GI bill for anything past public high school.

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Inheritance and acquired wealth throughout life. In general the heirs will eventually have the money of the previous generations, grow old and pass it on, and so forth. My comment was related to the older generation, not the kids coming out of high school.

Last year of boomers (born in late 1964).

We bought our first house in 1995, when I was 30. 3 BR, 1 1/2 bath, 2 story, almost 100 yr. old house in uptown New Orleans. Paid $125,000 with a 5 year ARM so we had a lower mortgage rate. Wife and I saved up for a year for a 5% down payment.

Sold it 5 years later (in 2000) for $210,000, which enabled us to buy a teardown lot and build our "forever" home in Old Metairie. Refinanced mortgage twice when rates were low in order to lower both term and note; the house will be paid off next year.

My house and lot was built in 1964 for $30 to $35K.

Now at least the land is worth more than 10x that price.

Metairie on other side of I-10 from Old Metairie. Does that make my house "New(er)" Old Metairie?

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Idk why it upsets you so much that things cost more today than they did before.

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Because they don't necessarily cost more today than they did before.
But that doesn't "upset me."

I've got no skin in your game.
If I were in the starter home market, I'd have given my I-teeth to make a purchase during the near-ZIRP period. Just makes financial sense. Nonetheless, there was a large contingent of younger folks who elected to avoid home purchase at that point. To a large extent, those are the folks who come off as whiners in these threads.

But the "woe is me" stuff is also fascinating, because, if you take time to run the numbers, you'll find that even now, after recent price and rate escalation, affordability is comparable to points in the past. It is what it is.

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Because they don't necessarily cost more today than they did before.

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I mean, that statement is just incorrect.

Didn’t those just replace the cost of lighters and cigarettes?