- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: High housing prices...
Posted on 7/25/24 at 5:14 pm to theliontamer
Posted on 7/25/24 at 5:14 pm to theliontamer
High housing costs are a result of artificiqlly low interest rates, less or no money down for deposits and longer mortgage terms.
The same thing is happening with cars for the same reason.
When sales are based on the monthly payment versus the purchase price, this is the result.
The same thing is happening with cars for the same reason.
When sales are based on the monthly payment versus the purchase price, this is the result.
2
Posted on 7/25/24 at 6:30 pm to theliontamer
quote:
A lot of people complain about how the housing market skyrocketed in recent history. But, isn't it kind of obvious that millennials are the first generation where women have fully integrated the workforce. And are the first generation where it's the norm for both people in a household to work. I'm not pulling the numbers or data, but I bet if you just accounted for two incomes being the new normal household income, the sky high housing prices would make a lot more sense. It's really not crazy that 2 people making 60k a year each can afford a 300k starter home.
Housing is completely affordable. What is not affordable is that every young person feels the need to live in Austin or Denver or even Southdowns. Not everyone is supposed to be able to afford to live in the area they want. I didn't want to buy a house all of the way out in Old Jefferson, but the same house I bought there would have been twice the price in Baton Rouge.
Posted on 7/25/24 at 7:07 pm to notiger1997
quote:
Yeah I'm almost 50 years old and pretty much everyone woman in my social circle who is my age went to college and entered the workforce. Now some did quit and stay home when they started having kids, but most did not.
I'm 55 and the same can be said not only of my friends, but many of their parents as well (if their moms didn't go to college, they at least worked a f/t job).
Millennials are far from the first generation to have females "fully" (whatever that means) integrated into the workforce.
Posted on 7/25/24 at 7:10 pm to theliontamer
quote:
2 people making 60k a year each can afford a 300k starter home
Don't live close to the city.
Posted on 7/25/24 at 7:16 pm to theliontamer
This is why they are childless by choice. If you both work and struggle to pay for a starter home then you are not affording daycare.
Posted on 7/25/24 at 7:21 pm to theliontamer
Google tells me the average home price in the US is $495k while the average household income (accounting for multiple incomes in one home) is $75k-ish. I know this varies a lot based on location, but the average HHI vs average house price don’t align in most areas.
Posted on 7/25/24 at 7:25 pm to theliontamer
My general thoughts as a Boomer:
There are still affordable houses, but mostly in rural areas and states that are less attractive. If you have a work from home job you should seriously consider moving to a more rural area. You can still travel to the city for concerts and such.
HGTV: has ruined housing for a lot of people. You don’t need granite countertops, large master bathrooms, and big entertaining areas. Much like the auto industry, people think these things are the basics like seat warmers in cars.
Houses are too $&@? big. You don’t need a 2,500 sq ft house for two people. Just not necessary.
There are still affordable houses, but mostly in rural areas and states that are less attractive. If you have a work from home job you should seriously consider moving to a more rural area. You can still travel to the city for concerts and such.
HGTV: has ruined housing for a lot of people. You don’t need granite countertops, large master bathrooms, and big entertaining areas. Much like the auto industry, people think these things are the basics like seat warmers in cars.
Houses are too $&@? big. You don’t need a 2,500 sq ft house for two people. Just not necessary.
Posted on 7/25/24 at 7:40 pm to Auburn80
Buy the cheapest house in the nicest neighborhood you can. Best thing I’ve ever did and over time I fixed it up myself. Now my house is worth the same as the other houses but I paid a lot less
Posted on 7/25/24 at 8:09 pm to DellTronJon
My car cost more than my house. This is Maga country.
Posted on 7/25/24 at 8:13 pm to Shexter
quote:
It's the first generation where it's the norm to have a $200+ a month cell phone bill
Ever heard of cricket? Paying more than $30 per line is retard unless you spend a ton of time outside of North America.
Posted on 7/25/24 at 8:19 pm to theliontamer
If they have $67,000.00 to put down 20% and cover closing costs.
Posted on 7/25/24 at 8:26 pm to DellTronJon
Being a millennial myself, albeit an older one, these generations piss me off.
Typical Dallas millennial lives in a luxury apartment, drives a luxury car, has a luxury phone, subscribes to luxury streaming services, eats luxury food, takes wild vacations, and wonders why they can’t afford a house.
I live in a place worth 7 figures but I don’t have debt, don’t own luxury anything that isn’t 10 years old, don’t blow money on subscriptions, am writing this on a phone worth under $100, cook most of my own food, and take care of my own property. We vacation but mostly within driving distance and go extravagant maybe once every 5 years.
Typical Dallas millennial lives in a luxury apartment, drives a luxury car, has a luxury phone, subscribes to luxury streaming services, eats luxury food, takes wild vacations, and wonders why they can’t afford a house.
I live in a place worth 7 figures but I don’t have debt, don’t own luxury anything that isn’t 10 years old, don’t blow money on subscriptions, am writing this on a phone worth under $100, cook most of my own food, and take care of my own property. We vacation but mostly within driving distance and go extravagant maybe once every 5 years.
Posted on 7/25/24 at 8:38 pm to MC5601
quote:
This is disingenuous. I make about $115k per year and I can't afford to live in a decent area within 30 min of Dallas. No student loans, just can't afford the mortgage for a 3/2 starter home that costs $500k+.
The problem we have encountered is expectation. I bet most people on this site didn’t buy a brand new house as their first residence.
I know I was living in a 3/1 1960s built home for my first 2 years out of college and I was married at this point.
Posted on 7/25/24 at 9:09 pm to jizzle6609
New builds are low quality. Couldn’t pay me to buy one. And the good land have older homes on it. Also, growing up my family of four lived comfortable in a 1150 square foot home. 3 bed two bath and that’s plenty for a middle class family. Nowadays a family of four want 2000-3000 square foot house. Mind you I have a 2500 square foot house in a great neighborhood but I also only pay 18% of my take home in the monthly payment including insurance
Posted on 7/25/24 at 10:15 pm to SneezyBeltranIsHere
quote:
People who make reckless decisions have always stuggled to buy a home. Lazy people have always struggled to buy a home. Stupid people who can't earn much money have always struggled to buy a home.
Right. We’re saying kids with student loans and car notes are stupid. You know what else is out of control? Education and car prices. But lazy kids though. Damn them
Posted on 7/25/24 at 10:24 pm to theliontamer
Dump trillions of manufactured dollars into the economy, restrict oil production (which raises the cost of everything), and localities that tax wanting to continue appraisal inflation for more cash, and this is where we are. Yes, women voted for this shite by and large, but millennials had jack shite to do with women "fully integrating" into the workforce. They've been there for decades. I also see you had no blame for social media social climbing in your excuse. That would be more accurate against XX, but that's been going on since women could stab each other with animal horns.
Posted on 7/25/24 at 10:24 pm to theliontamer
Oh look, a millennial that thinks history started the day they were born. No way, or cap, or whatever.
Posted on 7/25/24 at 10:30 pm to Dallaswho
It’s not that they can’t afford them… but they choose not too bc they would rather go on all these vacations, drive the nicer car, $200/weekend on golf or fishing, etc.
Choices… and to each their own.
I can’t afford a bass boat, hunting lease, or luxury golf courses. But I also have about $400k in equity in my home, bc I know retirement for someone in their 40s who is middle class is tough. In 20 years have a 600-700k house paid off- I’ll then be retired, ready to downsize, and pocket $150-200k, and use that for vacations and fun….
Choices… and to each their own.
I can’t afford a bass boat, hunting lease, or luxury golf courses. But I also have about $400k in equity in my home, bc I know retirement for someone in their 40s who is middle class is tough. In 20 years have a 600-700k house paid off- I’ll then be retired, ready to downsize, and pocket $150-200k, and use that for vacations and fun….
Posted on 7/25/24 at 10:36 pm to theliontamer
We bought our "starter home" in 1994 for $100K after being married 4 years and living in an apartment for 2 years and renting a home for 2 yrs. We had both worked for four years and had a 3 yr old and the down payment was hell to save up and combined income was -$60K. It was a piece of shite with original carpeting, formica counters, no crown molding, doors that stuck and 10 yr old original appliances. We had to look 6 months to find it.
This was in First Colony in Sugar Land and we were the youngest couple on our street and at least 5-6 yrs younger than the average family. We did not consider moving for 6 yrs and then it took a very generous one-off bonus year of us to be able to move up to a home that would be considered starter in todays market. We got $125K when we sold.
I'm not saying home prices aren't outrageous today, and the type of home we moved into isnt just as hard to find these days as it was then, but a little context is needed on both sides of this discussion. You can find a starter home n the Houston area way under $500K, but its not going to be easy to afford. I know this as the same home sold a few months ago for $330K, and the area is just as safe with the same good schools and after 2 different remodels, its a lot nicer today than it was then.
This was in First Colony in Sugar Land and we were the youngest couple on our street and at least 5-6 yrs younger than the average family. We did not consider moving for 6 yrs and then it took a very generous one-off bonus year of us to be able to move up to a home that would be considered starter in todays market. We got $125K when we sold.
I'm not saying home prices aren't outrageous today, and the type of home we moved into isnt just as hard to find these days as it was then, but a little context is needed on both sides of this discussion. You can find a starter home n the Houston area way under $500K, but its not going to be easy to afford. I know this as the same home sold a few months ago for $330K, and the area is just as safe with the same good schools and after 2 different remodels, its a lot nicer today than it was then.
Posted on 7/25/24 at 10:47 pm to Auburn80
quote:
Houses are too $&@? big. You don’t need a 2,500 sq ft house for two people. Just not necessary.
Millenials expecting 2500 square feet isn’t the problem. My neighborhood is one of the very few (previously) affordable, safe neighborhoods in Baton Rouge. I would guess over half has been bought up by boomers to use as rental units. My house that I rent is barely 1000 square feet, basic as it gets, and would probably sell for close to $200,000 today. With insurance and taxes it’s gonna cost over $2000/month. That’s barely affordable for most people.
Before Covid you could have gotten this house for 700-800/month, all in.
There is no more affordable housing available. All the money is going into apartments. There’s not a goddamn thing your average gen z buyer can do about it.
Page 2 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News