re: Homebuyer affordability slipped 5th straight month; Median Single Family Price: $446,400

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That was a quick strawman. Grats!

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Boomers: “well son if you stopped going to Starbucks, you could afford a house.”

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If someone came to my house, knocked on the door and offered me 440,000 grand for my house.... they can give me a day and my arse would be out of there and they have a home below the median cost. Come on all ye home buyers... line up.

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Based on the median price of a single-family house, $446,400, and the average interest rate on a 30-year fixed-rate mortgage of 6.57%, the income needed to qualify for a mortgage was $109,152 last month, according to the index. The formula also assumes the buyer makes a 20% down payment.

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At that income range, they aren't going to have a 20% downpayment and they also won't have an emergency fund or retirement savings.

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At that income range, they aren't going to have a 20% downpayment and they also won't have an emergency fund or retirement savings.

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You don't need a 20% downpaynent on a first home purchase.

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Have you not seen the prices on these? Double wides are listed at almost 200k.

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Not everyone will need a double-wide but ...

New double-wides: $85,000–$150,000+
Pre-owned double-wides: $50,000–$95,000

Texas Double-Wide Pricing Trends
New homes: $80,000–$140,000
Used homes: $50,000–$90,000

Florida
New double-wides: $70,000–$140,000
Pre-owned models: $40,000–$90,000

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Have you not seen the prices on these? Double wides are listed at almost 200k.

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I shite you not there was 3 bed 2 bath 2K sqft mobile home just up the road from me. Needs to just be straight up gutted, but liveable if you used to trailer park living

Its on 5 acres. Ok-ish property, has a small shop. Small lake that i doubt has fish.

They wanted like 340K for it at one point it was relisted after a few months of slow drops...now its 295K. Been relisted for 50+ days so far.

People want waaaaaay too much for shite even in sem-rural MS. Prices have yet to drop pre-2022 even though interests rates are 6+%

Even if you discount the mobile home and look at it for just property, thats like 50K/acre 3 acres down from me on the creek sold for like 35K after being on the market for 50K for 4 years

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We could never get enough homegrown roofers today because they are being undercut and propped up simultaneously,

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Can you explain how this works?

I'm not saying I don't believe you but it does sound a bit contradictory

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We could never get enough homegrown roofers today because they are being undercut and propped up simultaneously, we know that without a doubt. The amount of hard physical work today’s youth is willing to do is approaching zero at even 70k +. 30 years ago I echoed your sentiment but the last 20, watching them walk away from easy jobs that offered stability, above average pay plus benefits did it for me.

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This is only possible thanks to the welfare state, which I think you were alluding to. I know of people of all races who play the game. Work for family getting paid under the table while getting their health insurance, food, etc. paid for. We get rid of entitlement, we get rid of the entitlement mentality. They’ll be begging to roof making 70k.

I used to work nights in a warehouse and heard multiple people turn down full time work with benefits to retain government entitlements.

If people have to work, they will. The Walmarts of the world know exactly how much to pay based on what those workers can extract from the people to maximize their profits and minimize their payroll.

I really don't understand how most families can afford to own a home in certain parts of the country. I get weekly sale reports from my realtor and last week we had 13 homes sale in town all over asking. The cheapest one sold was for $734k which was $35k over asking. The most expensive was $5.3M which was $305k over asking. The only thing I can think of is that we are seeing flight out of NYC.

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No, we don’t have to import anybody. We do because Bo Pilgrim and his ilk decided that shipping in Mexicans and turning your hometown into a Mexican outpost was better than paying an American man what he deserved to be paid, and we have not recovered or learned from their treachery.

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Trade jobs are in huge demand across the US and we can't fill the jobs b/c Americans don't want them, no matter how good the pay is compared to their other options.

Even Hispanic labor rates for things like roofing are probably higher.