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re: Homebuyer affordability slipped 5th straight month; Median Single Family Price: $446,400
Posted on 7/19/26 at 1:36 pm to meansonny
Posted on 7/19/26 at 1:36 pm to meansonny
quote:
am shouldering off that people shouldn't look at homes that are outside their monthly budget?
Classic example of taking one point and overtly generalizing it to try and prove your point
Stop it with the hasty generalizations
1
Posted on 7/19/26 at 1:40 pm to gaetti15
quote:
Classic example of taking one point and overtly generalizing it to try and prove your point
Stop it with the hasty generalizations
Telling someone that they should shop for homes within their budget is a hasty generalization?
You are confusing the hell out of me.
What i deem common sense is evidently not according to you.
Posted on 7/19/26 at 1:48 pm to meansonny
quote:
Telling someone that they should shop for homes within their budget is a hasty generalization?
I wasnt even touching on those things, you drug the conversation to that point.
What i am saying is that there are other things that have to be considered when buying a house besides mortgage. Additional costs that come with a decision as to whether it is indeed cheaper to just "move somewhere else where its cheaper"
Posted on 7/19/26 at 1:53 pm to LSBoosie
quote:
I put in your exact criteria for the Dallas area. Here are the results:
You are definitely the low effort type.
Now if you did what realistic, rational, well-educated people do and consider some commuting time then you get over 70 results. So yes, there are plenty of options.
Posted on 7/19/26 at 1:54 pm to gaetti15
quote:
What i am saying is that there are other things that have to be considered when buying a house besides mortgage. Additional costs that come with a decision as to whether it is indeed cheaper to just "move somewhere else where its cheaper"
You seem to be forgetting the discussion.
The discussion is about buying a first home.
Either staying on the coast is important, or buying your first house is important.
Either staying by the family is important or buying the first house is important.
If buying the first house is important.
Then, shop for homes in the price range.
That includes foreclosures.
That includes buying townhomes or condos.
That includes buying further outside of downtown DFW.
That includes not "buying the median home price".
Posted on 7/19/26 at 1:56 pm to meansonny
quote:
This is what people in the thread are missing.
What do you mean? Of course you should only buy a home that you can afford. No one is saying that you should go buy a million dollar home on a $100k salary.
The point is that now it is harder to buy a home equivalent to what you were able to buy 20 years ago. Thats it. Whether that home is 1200 sf, 2500 sf, or 5000 sf, it’s tougher today than it was in the past. It is what it is but it suck for those that are trying to buy a house for the first time now a days. It doesn’t help when you have people like night vision telling people to go buy a piece of land and round up a couple of buddies to help you build a house on it.
This post was edited on 7/19/26 at 2:13 pm
Posted on 7/19/26 at 1:58 pm to ragincajun03
Sorry I don't have time to read 14 pages.
Is anyone here arguing home are affordable and haven't been outpacing wages for years?
Is anyone here arguing home are affordable and haven't been outpacing wages for years?
Posted on 7/19/26 at 2:04 pm to Clames
quote:
Now if you did what realistic, rational, well-educated people do and consider some commuting time then you get over 70 results. So yes, there are plenty of options.
Lmao, you are showing 28 homes in and area of like 1.5 million people. If you want to expand the commuting time, and add in those extra homes that get the count up to 70, you can add in millions of people too. So you’ve got several million people and less than 100 “starter homes”. Seems like a good ratio.
Posted on 7/19/26 at 2:08 pm to wheelr
quote:
Sorry I don't have time to read 14 pages.
Is anyone here arguing home are affordable and haven't been outpacing wages for years?
There’s a few people telling people to suck it up. Maybe live in a trailer and have a few buddies come and help you build a house because it’s what his dad did 100 years ago. He also suggested that people should just join the military. Another guy was sort of implying that people that are purchasing starter homes shouldn’t live in gulf coast areas that have high insurance costs. Another saying that there are a bunch of 1200-1500 sf, 2 bed/3 bath homes under $200k available “everywhere”
This post was edited on 7/19/26 at 2:12 pm
Posted on 7/19/26 at 2:16 pm to LSBoosie
quote:
Another saying that there are a bunch of 1200-1500 sf, 2 bed/3 bath homes under $200k available “everywhere”
They are, you just want to cling your your low-IQ world and play the blame game. See the exact same arguments made when it comes to the topic here in Memphis, like West Memphis, Millington, Southhaven, etc. don't exist.
Posted on 7/19/26 at 2:18 pm to wheelr
quote:
Sorry I don't have time to read 14 pages.
Is anyone here arguing home are affordable and haven't been outpacing wages for years?
We are in a housing bubble since 2022.
2005 (previous bubble) to 2019, housing prices weren't insane.
Things absolutely are harder than on average.
But we literally are in a bubble. Just like previous bubbles.
Some people dont understand context or history.
Posted on 7/19/26 at 2:18 pm to Clames
Yep.
Posted on 7/19/26 at 2:31 pm to Clames
quote:
They are, you just want to cling your your low-IQ world and play the blame game. See the exact same arguments made when it comes to the topic here in Memphis, like West Memphis, Millington, Southhaven, etc. don't exist.
49 available homes that fit your criteria. Do you know how many people live in this area? And there’s 49 available homes that you would consider a “starter home”
This post was edited on 7/19/26 at 2:35 pm
Posted on 7/19/26 at 2:34 pm to UltimaParadox
quote:
Slowly transitioning to generational homes like in Europe. Old money closing the doors
it certainly seems so....
but those of us with houses already also don't want the prices to start going in the opposite direction either, as we lose value on our homes... it's quite the fricked situation...
we need the values to plateau and then slowly but steadily rise, vs. the meteoric rises we've seen in the last 5-10 years...
Posted on 7/19/26 at 2:39 pm to ragincajun03
quote:
the income needed to qualify for a mortgage was $109,152
...is this supposed to be a lot? Are we saying single people with one income should be taking out mortgages to buy single family homes?
This post was edited on 7/19/26 at 2:41 pm
Posted on 7/19/26 at 2:44 pm to Paul Allen
quote:
Younger people both conservative and liberal are finding it difficult for saving the 20% down payment. Nothing to do with politics, it’s the worldview of a generation (boomers) that isn’t what millennials and Gen Z is facing.
I disagree it has everything to do with politics. The country has been divided along social ideology the past 20 years. There isn't much more movement so they are taking a page out of Carville's binder and going with the "It's the economy stupid".
Although they can't really attack the economy because based on traditional measures the economy is doing well (especially when compared to 2020-2024) inflation rates are around 3%, unemployment is below 5%, interest rates have stabilized, and the markets are up.
Since the election we have been bombarded daily with Boomer vs Millennials/Gen Z propaganda and the younger generations are buying it hook, line, and sinker.
So now the message is Capitalism is broken and blame the Boomers. This is serving two purposes telling the younger generations the pain you feel is someone else's fault and creating a division in the family unit through generational divide.
In my opinion the overall goal is to switch younger voters back to Dems while getting them to start believing in some of the principles of communism/socialism.
For those that care here is a link to young voter trends 2020 vs 2024
Young Voters Trends 2024
Posted on 7/19/26 at 2:48 pm to chRxis
quote:
we need the values to plateau and then slowly but steadily rise, vs. the meteoric rises we've seen in the last 5-10 years...
Prices have plateued somewhat since 2023.
There are a few problems.
In places like California, it takes 3 years to build a new home. Regulatory issues absolutely are limiting new housing starts
Nobody wants "growth". Every local housing issue at the county board of commissioners is challenged by the local community.
Ive argued against zoning changes in my immediate neighborhood (fighting attached housing units. Or arguing against minimum lot size changes).
We need changes in government and changes in local attitudes to better fix the bubble. This is easier said than done.
Posted on 7/19/26 at 2:51 pm to Paul Allen
quote:
Younger people both conservative and liberal are finding it difficult for saving the 20% down payment.
20% is not typical down-payment for first time homebuyers.
I put 5% down on an 80/15/5 purchase.
I did interest only on my first mortgage and paid my 2nd mortgage off in 2 years. Then paid down my 1st mortgage even more before selling my home and using the equity for 20% down on a larger home (30% price jump).
Posted on 7/19/26 at 3:22 pm to MC5601
quote:
Not sure where you are located but in Texas, insurance is about $500 per month on a $500k house due to wind, hail, tornados, extreme weather. It’s very likely youll need a new roof every 10-15 years which drives prices through the roof. Property taxes in DFW average 1.8-2.1% of home value so a $500k house will pay about $12k per year in property tax. You have no idea what you’re talking about
Live in metro Atlanta. House with basement is 6200 sq ft. Property taxes 8700. Insurance 4300.
Posted on 7/19/26 at 3:26 pm to Boss
quote:
Live in metro Atlanta. House with basement is 6200 sq ft. Property taxes 8700. Insurance 4300.
No wonder all those Yankees moving to Georgia
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