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Started By
Message
re: Homebuyer affordability slipped 5th straight month; Median Single Family Price: $446,400
Posted on 7/19/26 at 12:15 pm to MC5601
Posted on 7/19/26 at 12:15 pm to MC5601
quote:
The point being that $170k per year should be able to get you something decent in a safe area with good schools.
Says you and you conveniently left out in the DFW area.
Each city has different supply/demand , demographics, and a whole host of factors including what you define as “decent”.
Don’t you like supply/demand economics or are you a communist?
0
Posted on 7/19/26 at 12:16 pm to meansonny
quote:
The best way out of the bubble would be to flood supply
... or remove illegals and Section 8 types that get special housing aid to buy/rent houses.
Posted on 7/19/26 at 12:16 pm to UptownJoeBrown
quote:
Right. You’re not entitled to live in/near Dallas.
I never said I was, so I’m not sure why you keep saying that.
quote:
Is your point that you’re supposed to find these houses in every city?
No, I never said that. There are other posters in this thread that have claimed that these houses are available everywhere. It’s simply not true.
My point is that that it’s more difficult for first time home owners to buy now than it has been in the past, for the equivalent type of home. That was my only point.
Posted on 7/19/26 at 12:16 pm to MC5601
quote:
The point being that $170k per year should be able to get you something decent in a safe area with good schools
Your definition of decent is biased.
$60k-80k homes in the 70s were in building off of farmland in DeKalb County GA.
Posted on 7/19/26 at 12:19 pm to MC5601
So if you average 170k and you are just getting married. Then you don’t need great schools yet. But let’s assume you did. The 10 years before you get married you could save 80-100k for a downpayment. Buy a 500k house. Your mortgage is 2800. Your take home should be around 9700 monthly. You are at 27% of take home.
If you can’t find a nice home in a metro area with good schools then you have to move. In Atlanta they are plentiful.
If you can’t find a nice home in a metro area with good schools then you have to move. In Atlanta they are plentiful.
Posted on 7/19/26 at 12:19 pm to Night Vision
quote:
... or remove illegals and Section 8 types that get special housing aid to buy/rent houses.
Removing illegals helps.
Section 8 is part of the supply. Removing that would be stupid.
The problem with section 8 is that the tenant is disincentivized to increase income as it would lead to eviction. It is the same problem with LBJs war on poverty creating a plantation.
Posted on 7/19/26 at 12:20 pm to MC5601
quote:
The average first time home buyer in 2026 is 39 years old.
That isn't true.
What is your data from? Mail-in surveys?
Posted on 7/19/26 at 12:20 pm to CPA Yung Boi
You picked civil engineering. The lowest paid engineer. Well done asshat.
Posted on 7/19/26 at 12:21 pm to meansonny
quote:
You are kind of making my point. The bubble bursting is often near 10% unemployment.
Multiple quarter recessions. As bad as you want housing to drop, you dont want that.
The best way out of the bubble would be to flood supply. It takes years. Add in modest/typical wage inflation, and we can escape a bubble without "bursting".
I’m not saying I want high unemployment. You’re saying it takes years for the market to reset. Let’s say there was someone who had been waiting 8-10 years to be able to buy, as some on here have suggested doing. Then right when they were about ready to buy, we entered this bubble. Now you are telling them to wait an unknown number of years so the market can reset. It sucks for those people.
Posted on 7/19/26 at 12:21 pm to Boss
quote:
So if you average 170k and you are just getting married. Then you don’t need great schools yet. But let’s assume you did. The 10 years before you get married you could save 80-100k for a downpayment. Buy a 500k house. Your mortgage is 2800. Your take home should be around 9700 monthly.
Before any retirement savings or insurance. You are house poor
Posted on 7/19/26 at 12:23 pm to Boss
quote:
So if you average 170k and you are just getting married. Then you don’t need great schools yet. But let’s assume you did. The 10 years before you get married you could save 80-100k for a downpayment. Buy a 500k house. Your mortgage is 2800. Your take home should be around 9700 monthly. You are at 27% of take home. If you can’t find a nice home in a metro area with good schools then you have to move. In Atlanta they are plentiful.
$2800 mortgage
$800 per month property tax
$500 per month insurance
$300 per month utilities
$4400 per month on housing is pretty steep for $170k per year
Posted on 7/19/26 at 12:23 pm to meansonny
quote:
Section 8 is part of the supply.
Section 8 people, not buildings.
Jug Ears started a program to put the people into houses in normal neighborhoods, not normal Section 8 housing.
Posted on 7/19/26 at 12:25 pm to Night Vision
quote:
You wouldn't believe me if I told you how old I was when I retired, debt free to boot.
I couldn’t sleep well at night knowing I live off gov handouts but I know not everyone shares the same morals and values as me. It takes all kinds I guess.
Posted on 7/19/26 at 12:25 pm to LSBoosie
quote:
It sucks for those people.
Life ain’t fair either.
Posted on 7/19/26 at 12:25 pm to LSBoosie
No one was waiting 5 years om 2019. Even bad credit could clean up in 2
Posted on 7/19/26 at 12:26 pm to ragincajun03
You dont need 100k to qual for a 446k mortgage
And you dont need 93k to qual for a 398k mortgage
And you should never put 20% down now
And you dont need 93k to qual for a 398k mortgage
And you should never put 20% down now
Posted on 7/19/26 at 12:27 pm to Night Vision
quote:
If that's what you call career retired military.
Is that not true? Does your income not come from the federal government?
Posted on 7/19/26 at 12:27 pm to UptownJoeBrown
quote:
Life ain’t fair either.
Life should not be equal. We should do our best to make life as “fair” as possible. Just ignoring things going into the shitter is an insane position to take. I’ll never understand it
Posted on 7/19/26 at 12:27 pm to SDVTiger
quote:
And you should never put 20% down now
I agree. I’ve always felt like 10% is a good amount for a down payment.
Posted on 7/19/26 at 12:27 pm to JohnnyKilroy
quote:
I couldn’t sleep well at night knowing I live off gov handouts but I know not everyone shares the same morals and values as me.
That's career military, it's called a pension.
20 year minimum.
What fricking morons some of you people are.
You can kiss my arse on the way out you candy-arse motherfricker.
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