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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 10:28 am to Night Vision
Posted on 7/19/26 at 10:28 am to Night Vision
quote:
I don't want a smaller used home or a starter home Daddy! I want to live it up right from the start!
All the older “starter homes” in my Metro area got bought up by LLCs for rental properties.
Due to local/state government building regulations they no longer build traditionally small starter homes.
quote:
I don't want to buy some land, put a trailer on it and save to build a house!
You’d have to move damn near two counties over to find land like that. You’ll blow that savings on the damn gas money today to drive 1-2 hours to work and back all week.
quote:
I must buy a new fancy car every two or three years as well Daddy!
The price of used cars at this point says hold my beer.
quote:
There are new subdivisions within my county where the houses are all under $325K and some are under $300K.
And how long would the commute be for someone who moved into one of those houses to a job that pays a living wage?
2
Posted on 7/19/26 at 10:28 am to Klark Kent
quote:
True. And I definitely sympathize more with the angsty non-homeowner millenials over the “if you didn’t buy Starbucks” boomer types. Unfortunately, I think it’s only going to get progressively worse for the younger generations.
And that’s the root of my concern. Every generation of homeowners genuinely has had it harder than the one before, so I get why people want to give pushback. But it’s in the last ten years or so that things seemed to really get to a tipping point in which it went from “really hard” to “nearly impossible” for a significant portion of young people. And unless that trend reverses, for Gen Z it’s going to go from “nearly impossible” to “impossible” for a significant portion. From a societal perspective, that’s a problem.
Posted on 7/19/26 at 10:30 am to BluegrassBelle
I'm not here to hold your hand either.
Many decisions have to be made based on different factors.
What are your goals?
What are you willing to do to achieve your goals?
Many decisions have to be made based on different factors.
What are your goals?
What are you willing to do to achieve your goals?
Posted on 7/19/26 at 10:32 am to BluegrassBelle
quote:
And how long would the commute be for someone who moved into one of those houses to a job that pays a living wage?
I understand it’s not the same everywhere but I just did a half assed search on realtor.com for Metairie, which is just outside New Orleans and I counted 18 houses under 350 with the majority being under $300.
So commuting to New Orleans for work, you’re looking at a 20-40min ride but mostly just due to traffic.
Posted on 7/19/26 at 10:34 am to Night Vision
quote:
What are your goals? What are you willing to do to achieve your goals?
I’m living in a home that we bought at the beginning of COVID before the market took off and at less than 3%. Its value has increased by over $200k since.
I’m not worried about my goals. I’m doing ok because we’re not house poor and purposefully bought smaller.
I am worried about my step kid who is 17 and at this rate likely won’t be able to own a house until she’s in her 40s. Even with us helping with a down payment.
Posted on 7/19/26 at 10:40 am to BluegrassBelle
quote:
I am worried about my step kid who is 17 and at this rate likely won’t be able to own a house until she’s in her 40s. Even with us helping with a down payment.
Is she going to college? What is she planning on majoring in? You literally have no clue if she’ll be able to afford something.
Also, the world needs ditch diggers too.
Posted on 7/19/26 at 10:43 am to BluegrassBelle
As I mentioned earlier. It might not be right for her, but you can serve one stint in any military branch and you are then eligible for a VA loan which requires no down payment.
Won't be right for everyone, but it is a good deal.
I have several nieces and nephews that purchased houses around the Covid timeframe. Most are in the skilled trades, but one is a college grad and is not using that degree for work. They are living fine and two of them have multiple kids.
Won't be right for everyone, but it is a good deal.
I have several nieces and nephews that purchased houses around the Covid timeframe. Most are in the skilled trades, but one is a college grad and is not using that degree for work. They are living fine and two of them have multiple kids.
Posted on 7/19/26 at 10:43 am to Boss
quote:
Is she going to college? What is she planning on majoring in? You literally have no clue if she’ll be able to afford something.
So now it’s “go to college and get a living wage job”.
Posted on 7/19/26 at 10:45 am to ragincajun03
Remember when the housing market was going to ‘crash’ every year since 2018? Yeah me too.
Posted on 7/19/26 at 10:46 am to BluegrassBelle
Well considering the average salary of a college grad is 50-60% higher, I would still say it relevant.
Posted on 7/19/26 at 10:48 am to ragincajun03
Half of single family homes are priced less, and the other half is priced more.
One of those halves may be best option…unless renting longer makes sense (to continue to save for home) or until interest rates decline. The latter is not looking good.
Our kids are in this phase. Certainly worse conditions than when we were in their phase of new home ownership. One of kids bought near that interest rate but in the cheaper half of median. Proud of them!
One of those halves may be best option…unless renting longer makes sense (to continue to save for home) or until interest rates decline. The latter is not looking good.
Our kids are in this phase. Certainly worse conditions than when we were in their phase of new home ownership. One of kids bought near that interest rate but in the cheaper half of median. Proud of them!
This post was edited on 7/19/26 at 10:49 am
Posted on 7/19/26 at 10:48 am to brass2mouth
quote:
I understand it’s not the same everywhere but I just did a half assed search on realtor.com for Metairie, which is just outside New Orleans and I counted 18 houses under 350 with the majority being under $300.
I did the same for Charlotte and found the same thing. All within 1hr and in areas I’d live. Doable for a dual income young professional family.
Posted on 7/19/26 at 10:48 am to ragincajun03
quote:
$446k as the median single family price of a home. YIKES!
Absolutely insane
Posted on 7/19/26 at 10:52 am to Boss
quote:
Well considering the average salary of a college grad is 50-60% higher, I would still say it relevant.
And oftentimes still does not get you a living wage once your student loan payments kick in or until you have years of experience under your belt.
This isn’t the 90s.
Posted on 7/19/26 at 10:53 am to SquatchDawg
In many major metros with high paying jobs it’s cheaper to rent now than buy. Renting and maxing out 401k’s, Roth, HSA, and dumping any extra into a brokerage is going to put you further ahead in life than being house poor from a high mortgage being a ‘homeowner’
PS you never actually own the home even when it’s paid off.
PS you never actually own the home even when it’s paid off.
Posted on 7/19/26 at 10:55 am to ragincajun03
It’s the same with farms.
Back in the 50-70s a guy could take a loan to buy some land, house, and cows and run the cows and pay for it all plus raise a family and save some. (Let’s not talk of the 80s farm crisis)
Today you could possibly barely make the land payment by running animals on land….and that includes the record cow costs we currently have.
People just don’t get how screwed up our dollar and wages are compared to 50 years ago.
Back in the 50-70s a guy could take a loan to buy some land, house, and cows and run the cows and pay for it all plus raise a family and save some. (Let’s not talk of the 80s farm crisis)
Today you could possibly barely make the land payment by running animals on land….and that includes the record cow costs we currently have.
People just don’t get how screwed up our dollar and wages are compared to 50 years ago.
Posted on 7/19/26 at 10:56 am to BluegrassBelle
quote:
once your student loan payments kick in
G.I. Bill
Posted on 7/19/26 at 10:57 am to Night Vision
quote:
G.I. Bill
You keep using this as your blanket response when everyone here know the military isn’t for everyone.
Posted on 7/19/26 at 10:57 am to BluegrassBelle
I'm just offering solutions.
Posted on 7/19/26 at 10:58 am to BluegrassBelle
Dual income households out of college are over 130k. How is that not living wage.
Student loans? Neither of my kids will have them and they are both in college. They will start their lives debt free.
Student loans? Neither of my kids will have them and they are both in college. They will start their lives debt free.
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