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re: Americans need to earn 70% more than 6 years ago to comfortably afford a median price home
Posted on 5/13/25 at 2:08 pm to RaoulDuke504
Posted on 5/13/25 at 2:08 pm to RaoulDuke504
One of the biggest problems is there are large areas of major US cities (where a lot of professional jobs are) that are uninhabitable. Cracking skulls in high crime areas (Southside of Chicago, most of Baltimore, most of Detroit, etc...) would open up the housing market substantially. Unfortunately, this will never happen unless enough people finally stop giving a shite about being labeled as racist.
0
Posted on 5/13/25 at 2:26 pm to theunknownknight
quote:
*excluding the fact those all those who went through everything you saying had 3x to 6x the buying power than we do today. That's why they could afford a house, two cars, a tractor, a boat, and retirement while living comfortably on one income while the wife stayed at home. Take your current salary, hold all other economic variables constant, and multiply it by 4. Then get back with me on how hard it was for those past two generations to live from the 50s on.
You're talking about buying power while typing on a $1000 device attached to Wi-Fi, most likely sitting in an air conditioned building. Whining because you can't buy what you want is for children. Buying power is not a hardship. It's an inconvenience that millennials think is a hardship because they've never had to face a real one.
Posted on 5/13/25 at 2:28 pm to YouKnowImRight
quote:
YouKnowImRight
I'm not sure any other poster will ever be the perfect opposite of their username quite like you.
Posted on 5/13/25 at 2:28 pm to BluegrassBelle
quote:
You raised the kids you’ve bitching about. Maybe a little self-reflection with that angst would serve you better.
My kids already know I don't accept whining. Take that BS to their mother. Pull yourself up, stand on your own two feet, own your circumstances, but don't make excuses and don't whine.
Posted on 5/13/25 at 2:29 pm to GregMaddux
quote:
Printing money and giving it to illegals to buy houses has consequences.
go woke and go broke
thanks liberals
Posted on 5/13/25 at 2:33 pm to Darth_Vader
quote:
No one is building or buying houses like this any more.
Half the houses in the garden district and capital heights look like that and are $300k+ if updated. Try again.
Posted on 5/13/25 at 4:53 pm to Dawgfanman
quote:
What percentage of your take home pay was it 10 years ago?
To be honest, I don't remember. I should go back and look at percentage of gross pay, just because it would be easier to really see. Our take home today has higher 401K and IRA contributions so it's a little different. It was never as high as 29% of our monthly net pay though, no where close. I just know that any upgrade in housing right now would cost us an arm and a leg. I don't love our house and would like to move, but I'd rather keep plugging away at other financial goals right now.
Posted on 5/13/25 at 5:08 pm to CatfishJohn
quote:
Groups like Blackrock buying up all the homes to turn into rentals doesn't help either
. Blackstone.
Blackrock really doesn't do this.
Not sure why all the downvotes. You are correct. Blackrock does not buy single family homes.
Blackstone owns probably close to 100k single family homes.
Posted on 5/13/25 at 5:13 pm to DesScorp
quote:
The Publix-shopping OT Elite
Well I learned I’m OT Elite today. I’m a Publix Fried Chicken eatin motha frickin Elitist.
Posted on 5/13/25 at 5:36 pm to DesScorp
quote:
The Publix-shopping OT Elite
why in the frick would I shop at Publix when I could shop at HEB?
Posted on 5/14/25 at 6:09 am to Mingo Was His NameO
What the frick are you talking about? They earn $170k combined with his OT at 22. They could easily afford a $500k house and still have money to burn on vacations and toys. With him just working 40 hour week, they could easily afford a $400k house. They were smart and bought an older home that was in good shape and could easily be paid off in less than 10 years with their current income. Either one of them could have paid the note on the house by themselves if they were single just working regular hours. Either her salary or his hourly could have stood alone to buy the house. He is 22, not 52. Twenty hours of OT pay to him is time well spent more so than sitting on his arse playing video games and eating dinners brought to him by Uber eats in some apartment while whining about how the housing market is so unfair for people his age. He works to get ahead and bought a home that works within his budget. Miserable? They and their 2 dogs seem to be enjoying adulthood and the 2 acres.
Posted on 5/14/25 at 6:26 am to YouKnowImRight
Agreed. Tell these kids. Switch to a flip phone and quit your Netflix and you’ll be buying a $400,000 starter home in no time.
Posted on 5/14/25 at 6:27 am to Dirk Dawgler
I’d imagine $170k is well above median household income in your area.
Posted on 5/14/25 at 7:11 am to Dirk Dawgler
Your daughter makes ~70k a year in marketing at 22 years old, in an area that you can buy a house on 2 acres for 250k?
Posted on 5/14/25 at 7:12 am to NIH
quote:
Agreed. Tell these kids. Switch to a flip phone and quit your Netflix and you’ll be buying a $400,000 starter home in no time
It's not that, it's not settling for what you can afford and expecting what you can't. That's what frustrates me. Most of us started in trailer houses or run down apartments, packed our lunch, rolled coins, bought off brand clothes, and drove shitty vehicles. Why can't they? Why do they expect to be able to afford what their parents worked their whole lives for by the time they're 30?
Posted on 5/14/25 at 7:17 am to YouKnowImRight
quote:
Why do they expect to be able to afford what their parents worked their whole lives for by the time they're 30?
Millennials are in or approaching their 40s bro.
quote:
That's what frustrates me.
You’re pressed about this? Lol.
This post was edited on 5/14/25 at 7:19 am
Posted on 5/14/25 at 7:21 am to JohnnyKilroy
quote:
Millennials are in or approaching their 40s bro.
I'm 47. It's not like I'm a boomer looking down on them from a stack of government entitlements they will have to pay for.
Posted on 5/14/25 at 7:21 am to YouKnowImRight
quote:
My kids already know I don't accept whining. Take that BS to their mother.
Mommies say everyone gets a gold star, and is the absolute coolest! You're much warmer than you give yourself credit for. Root cause is hardship avoidance and princess behavior (including by boys) generated by mommies and soft dads. Parents attending internship interviews, and calling the university career center to ask why Braxtin didn't get the internship started about 15 years ago. Here are the results.
And oddly the one f@*%& thing that parents could have taught them is that patience builds wealth. That means the cars you buy, slumming it with non Cliquot bubbles for the boozy brunch, the starter condo instead of the median price home, etc.
Posted on 5/14/25 at 7:25 am to Tantal
quote:
Printing money and giving it to illegals to buy houses has consequences.
quote:These aren’t separate problems. BlackRock is just savvier than the average American and exploits the problem. The money printing makes saving obsolete and forces everyone to be a speculator. We’re seeing glimpses of a problem that is a regular part of life in countries that have broken currencies.
Groups like Blackrock buying up all the homes to turn into rentals doesn't help either.
This post was edited on 5/14/25 at 7:26 am
Posted on 5/14/25 at 7:27 am to Dirk Dawgler
quote:
What the frick are you talking about? They earn $170k combined with his OT at 22. They could easily afford a $500k house and still have money to burn on vacations and toys. With him just working 40 hour week, they could easily afford a $400k house. They were smart and bought an older home that was in good shape and could easily be paid off in less than 10 years with their current income. Either one of them could have paid the note on the house by themselves if they were single just working regular hours. Either her salary or his hourly could have stood alone to buy the house. He is 22, not 52. Twenty hours of OT pay to him is time well spent more so than sitting on his arse playing video games and eating dinners brought to him by Uber eats in some apartment while whining about how the housing market is so unfair for people his age. He works to get ahead and bought a home that works within his budget. Miserable? They and their 2 dogs seem to be enjoying adulthood and the 2 acres.
This is the OT and you're interacting with Mingo
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