- 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 7/26/24 at 3:52 pm to theliontamer
Posted on 7/26/24 at 3:52 pm to theliontamer
I lived in a trailer surrounded by crack heads for years to save $ for a house. Bought a dilapidated house and fixed it up. Unless you have wealthy parents nobody will hand you shite, you have to sacrifice.
1
Posted on 7/26/24 at 5:59 pm to Shexter
quote:
It's the first generation where it's the norm to have a $200+ a month cell phone bill and $100+ a month high speed internet + streaming services (Netflix, Prime, Hulu, etc.)
For sure! Things we count as a necessity now are very expensive. I'm not sure its gonna ever get better either.
Posted on 7/26/24 at 6:04 pm to theliontamer
few people's first homes are their dream homes. Buy the shittiest house in the nicest neighborhood you can. Hang on to it, DIY as much as you can. Build up equity and climb the latter. Sitting out while home prices are rising is a bad strategy. You gotta make the jump and hold on. You won't be as house poor as you think.
Posted on 7/26/24 at 6:09 pm to Trapped in time
quote:
I lived in a trailer surrounded by crack heads for years to save $
Sounds like the American dream.
Posted on 7/26/24 at 6:37 pm to theliontamer
quote:
But, isn't it kind of obvious that millennials are the first generation where women have fully integrated the workforce.
Far from it.
And inflation adjusted housing prices are at an all time high.
Posted on 7/26/24 at 6:56 pm to philly444
quote:
But small towns/rural areas don’t have my precious hipster breweries and coffee shops?!
Well, yeah, because those businesses are usually in places with jobs.
Posted on 7/26/24 at 7:42 pm to wm72
I’m buying all my kids their first house. Putting them through college with decently new cars, buying gas and food for those 4 years, and zero student loan debt upon graduation. If they can’t make it with that, then they just won’t make it.
Posted on 7/27/24 at 11:49 am to latech15
Please explain the downvote. Do you think this is bad to do for your children, or are you just mad that you can’t afford to do the same for your kids?
Posted on 7/27/24 at 3:28 pm to Jcorye1
quote:
Fiance makes around 135, and I make around 135, and a 380k loan still hurts, I couldn't imagine trying to do that on a combined 120k.
Today, home buying is for the privilege and wealthy in any popular metro area. New Orleans, Houston, Dallas, Atlanta, Nashville, Austin, NYC, LA, Denver, etc.
Home buying is still more attainable in rural towns and medium size cities which include BR. But even in BR, you gotta spend at least 260K for a pleasant living area with low crime and amenities which is out of reach for most people who live there. Luckily BR has magnet schools so you don't have to buy in a certain neighborhood to have access to BRMHS and LMHS
Posted on 7/27/24 at 5:06 pm to POTUS2024
quote:
There's a guy on youtube that has done the math on this - the American Dream is just a fantasy for these younger generations. They are overburdened with debt, prices high, interest rates high - it's just not possible for them. We have to see a mechanism forcing more houses onto the market for sale.
Millennials are too busy being woke and lazy working shitty art and barista jobs. It’s easy to buy a home if you focus and have patience. Not everyone deserves a home.
Posted on 7/28/24 at 6:46 am to latech15
Please explain the downvote. Do you think this is bad to do for your children, or are you just mad that you can’t afford to do the same for your kids?
__________
Happy that you can help your kids, but this is doing too much for them. At least for most people. I am set financially but would not/did not go this far with my kids. I offered to pay for college for each, but buying them a house is enabling them to be stupid with their own money.
Let them earn it. I value my lean years and the lessons it taught me. I can afford anything I want now, but only because I developed an investing mindset early on, along with a spend less than you make discipline. I "retired" at 55, and just turned 60, and have 5 kids ( young adults). I focus on teaching them how vs doing it for them. I have set each up with an investment account with starter money in it. Doing the same for my grandkids.
__________
Happy that you can help your kids, but this is doing too much for them. At least for most people. I am set financially but would not/did not go this far with my kids. I offered to pay for college for each, but buying them a house is enabling them to be stupid with their own money.
Let them earn it. I value my lean years and the lessons it taught me. I can afford anything I want now, but only because I developed an investing mindset early on, along with a spend less than you make discipline. I "retired" at 55, and just turned 60, and have 5 kids ( young adults). I focus on teaching them how vs doing it for them. I have set each up with an investment account with starter money in it. Doing the same for my grandkids.
Posted on 7/28/24 at 6:56 am to latech15
quote:
Do you think this is bad to do for your children, or are you just mad that you can’t afford to do the same for your kids?
The first part. I think it’s bad to buy a house for your children.
Posted on 7/28/24 at 7:17 am to Supermoto Tiger
quote:
Live in the home 5 years, and do it all over again.
Sounds like a stable life to raise kids. Wish I had thought about that strategy a few decades ago!
Posted on 7/28/24 at 7:19 am to KWL85
quote:
buying them a house is enabling them to be stupid with their own money.
How so?
Plenty of wealthy families teach financial and social responsibility to their kids while also providing them the cushion to build their own lives debt free.
Posted on 7/28/24 at 7:28 am to Jcorye1
quote:
Fiance makes around 135, and I make around 135, and a 380k loan still hurts, I couldn't imagine trying to do that on a combined 120k.
You make 270k combined and a 380k loan hurts?
Wtf
Posted on 7/28/24 at 7:36 am to SDVTiger
Some people are fiscally responsible and refuse to be house poor and use the net difference for savings/retirement. 
Posted on 7/28/24 at 7:39 am to SlowFlowPro
That doesnt make sense
If you take home 14k and struggle with a 3k payment then there is sometbing wrong with you
Dont even start to try and excuse that
If you take home 14k and struggle with a 3k payment then there is sometbing wrong with you
Dont even start to try and excuse that
Posted on 7/28/24 at 7:58 am to SDVTiger
quote:
If you take home 14k and struggle with a 3k payment
I'm sure they could afford it IF they slashed their savings/retirement efforts.
Again, some people value creating savings and retirement more than being house poor (and likely buying an over-inflated asset that's more than they need anyway).
Posted on 7/28/24 at 7:59 am to SlowFlowPro
Ok Dave Ramsey
Posted on 7/28/24 at 8:00 am to SDVTiger
Younger people and being able to afford a home is not a new thing.
If 1986 my wife and I purchased our first home together in the NOVA suburbs. $187500. Our monthly payment was $1003 and the interest rate was 9.5%. Add on insurance and taxes and we were paying about $1400 a month plus utilities. We mad about $100k (maybe) combined and we were able to afford the house and have a decent lifestyle. Vacations were places like Myrtle Beach where we would share rental on a big house with several other families. Nothing extravagent but we were happy and comfortable.
If 1986 my wife and I purchased our first home together in the NOVA suburbs. $187500. Our monthly payment was $1003 and the interest rate was 9.5%. Add on insurance and taxes and we were paying about $1400 a month plus utilities. We mad about $100k (maybe) combined and we were able to afford the house and have a decent lifestyle. Vacations were places like Myrtle Beach where we would share rental on a big house with several other families. Nothing extravagent but we were happy and comfortable.
Page 4 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News