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re: Housing Prices: The Whole Country Is Starting to Look Like California
Posted on 7/2/25 at 12:35 am to TigerBaitOohHaHa
Posted on 7/2/25 at 12:35 am to TigerBaitOohHaHa
quote:
It’s truly a catch 22. There is an abundance of housing in inner city St Louis for example. It all has graffiti and boards over the windows and nobody wants to live there. I think if money were invested in keeping criminals in jail And cleaning up the blight, everyone could spread out a little more and take the pressure off the housing crisis (at least temporarily). It’s an indirect approach, but there are entire swaths of any large city that are unlivable
Good point. But what can we do about it though….go through those neighborhoods in protest with signs reading and chants saying “get a job”?
1
Posted on 7/2/25 at 12:41 am to HubbaBubba
quote:pics aren’t loading on my end
My daughter is 24.
Posted on 7/2/25 at 1:24 am to Eurocat
quote:
Second thing, if there is really this crisis, where are all the illegal immigrants living?
Either (1) in old smaller houses that people don’t want anymore, but which are actually affordable, and/or (2) together in much larger numbers than most people want.
It’s a complicated issue. One of the rare ones where I think basically all sides have at least some legit points to make.
- Land use restrictions are a huge problem in cities that have run out of realistic room to sprawl
- Regulations on builders are needlessly cumbersome and choking supply artificially
Those are the big ones IMO. There’s also a reasonable question to ask about “how much house” people want, and where. I understand both sides on this too… it’s undeniable fact that the average new home in 2025 has a lot more amenities and higher quality of living than an average new home from 1905, 1955, even 2005. Obviously that makes it more expensive too. And it’s also fair to ask, as you do, if you need to live in Los Angeles or Dallas as compared to Milwaukee or Jacksonville. On the flip side, we’ve gotten wealthier as a nation since then, so it makes sense to me that people should be able to demand a more luxurious definition of “affordable housing” than in years past. And shouldn’t we want our most exciting and dynamic cities to be affordable for people?
I see similar complaints with “trads” too. Complaints that they can’t support a family of 3 kids on one income the way grandpa did. What gets left out a lot of the time is that grandpa’s house was 1/2 the size of the house they want, it may not have had central air/heating, it was constructed with cheaper materials and fewer safety innovations, grandpa didn’t have Internet or cable and barely even had TV, grandpa was way more likely to live in a rural town with nothing going on than to live in a suburb or city full of amenities… when you dig into the details, you realize the complaint is really that you can’t afford to live like it’s 2025 with a family structure out of 1955. People are still living the 1955 life, they’re just in small homes in small towns with small luxuries and small dreams.
Posted on 7/2/25 at 5:11 am to mike4lsu
quote:
All we need is the BBB to pass and trust the President on tariffs and the trade deals he negotiates.
Holy poli board melt. Dear lord
Posted on 7/2/25 at 5:56 am to Hoops
I got a lot of downvotes for some truth.
People hate that.
People hate that.
Posted on 7/2/25 at 8:14 am to HubbaBubba
quote:
Not coy. Other than time (I'm retired) the total of my investment is giving her room and board to live here for two years and paying insurance on the car my wife gave her in 2016. I know for a fact that when she moved out and went solo, she had a substantial six-figures investment savings account I had set up for her at Merrill Lynch / BOA as part of my accounts since I get free accounts there with no charges for anything (except maintenance fees). I lost track of it when she went full solo and moved her account out from under my umbrella. She's been working as a financial analyst and has old money accounts she services, so is already pretty savvy, with lots of resources and business relationships, plus understands how to create leverage . At OU, the Dean of the Price College of Business has flown her in to speak before the graduating seniors and also had her come in to judge the finals competition regarding commercial real estate investment projects. So, I have to assume she really knows what she's doing, and the two others in the business were best friends with her through high school and college and each come from economic status similar to my wife and myself , if not much more affluent. So they may have invested in their kids. I just don't know. I just know that my daughter gets her motivational drive directly from my wife who is a global sales whip for IBM's SAP Rise offering, along with IBM Cloud and IBM's Watson AI and regularly travels to Europe, Asia, South America, Mexico and India to support her team. 28 years together, and I can attest that being married to a business alpha female, while economically rewarding, certainly comes with challenges. I hope the guy she ends up marrying is up to the challenge
You’re full of shite and a fig… congrats
Posted on 7/2/25 at 8:25 am to Mingo Was His NameO
quote:You're that dog owner from the OT that puts peanut butter on his junk!
You’re full of shite and a fig… congrats
What a
Posted on 7/2/25 at 8:43 am to HubbaBubba
quote:
You're that dog owner from the OT that puts peanut butter on his junk!
You tried several lies that aren’t believable and got called out. Don’t get upset now
Posted on 7/2/25 at 9:26 am to Samso
quote:
In Houston, people are paying $1M+ for 1500 sqft bungalows in the heights.
quote:
In Houston, people are paying $1M+ for 1500 sqft bungalows because they don't want to commute 90mins each way from Katy or Kingwood
Life is a trade off
Posted on 7/2/25 at 10:26 am to Chucktown_Badger
quote:
That's not happening everywhere. You're in the middle of one of the states that experienced some of the highest in-migration both before and during covid so it makes sense.
For reference, the Dow Jones was about 12,000 in 2008. It's now at 44,000...up 4x. Your house is up 3x.
It kinda is happening everywhere. Heights is a bit of bad example because 08 is right around when the neighborhood really started getting gentrified
quote:
In 2008:
The median price of existing homes sold in the second quarter of 2008 was $208,100, down 7% from the second quarter of 2007.
The median price for a U.S. home sold during the fourth quarter of 2008 fell to $180,100, down from $205,700 during the last quarter of 2007.
The median existing-home price for the entire year of 2008 was $197,100, a 9.5% drop compared to $217,900 in 2007.
In 2025:
The median home-sale price in the U.S. as of April 2025 was $414,000, according to NAR.
As of March 2025, the median price of newly sold homes was $403,600. The median price of existing homes sold was $403,700.
The median sales price for all single-family homes in the U.S. was $375,000 as of March 2025.
The median existing-home sales price in May 2025 was $422,800.
In the first quarter of 2025, the median sales price of houses sold in the US was $416,900.
Zillow reported a median sale price of $357,600 for April 2025.
Posted on 7/2/25 at 10:40 am to OKBoomerSooner
quote:
It’s a complicated issue. One of the rare ones where I think basically all sides have at least some legit points to make.
- Land use restrictions are a huge problem in cities that have run out of realistic room to sprawl
- Regulations on builders are needlessly cumbersome and choking supply artificially
this is largely what the article is talking about.
California's problem is that there is less space to sprawl than Sun Belt cities. San Francisco has no where to go but up and building restrictions are impossible
As sun belt cities are starting to move inward they are running into the same code issues that happened out west
Posted on 7/2/25 at 3:06 pm to VooDude
quote:
Good point. But what can we do about it though….go through those neighborhoods in protest with signs reading and chants saying “get a job”?
We can start by either tearing down abandoned properties so that they don't attract crime or offering massive incentives for developers to refurbish properties at a scale to which the upside is worth the risk (ie, free or tax write offs).
Posted on 7/2/25 at 3:29 pm to Solo Cam
quote:
So now you are admitting that Blackrock does buy single family homes
No, I never admitted that. Because as far as I can discern it's not true.
quote:
Lol what is your point?
That the housing market fluctuates based on supply and demand...whether or not that supply is rentals or homes for sale. The market was thrown out of equilibrium due to the mass migration of covid and the poor policy that followed it. It's now catching up.
If you cannot follow that I cannot dumb it down any further.
Posted on 7/2/25 at 3:36 pm to Dire Wolf
quote:
California's problem is that there is less space to sprawl than Sun Belt cities
That's one of the reasons...chat gpt lays out the full story and it's a combination of geography, social, political (read: taxes and fees), and other influences that drive up the price. Believe it or not, despite their supposed determination to house the unhoused, many wealthy Californians are anti densification and building multifamily housing. They're the ultimate NIMBYs.
Posted on 7/2/25 at 3:39 pm to Eurocat
Who wants to live in Baltimore?
Posted on 7/2/25 at 4:16 pm to VooDude
quote:
Fixing the housing crisis is as simple as building a high speed rail network across the country
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