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re: How imminent is a housing crisis in this country?
Posted on 10/21/26 at 10:52 am to Buryl
Posted on 10/21/26 at 10:52 am to Buryl
quote:
My landlord bought the house I live in for $115,000 in 2019. Same exact house 5 doors down just sold for $205,000.
We bought in Shenandoah for $180k in 2018. We had to move in 2022 and sold for $230k. Zillow estimate on it today is $260k.
Posted on 10/21/26 at 10:56 am to FliesByNight
quote:
We bought in Shenandoah for $180k in 2018. We had to move in 2022 and sold for $230k. Zillow estimate on it today is $260k.
I bought a starter home (2 bed, 2 bath 1200 sqft home) in 2016 for 225K. Sold it for 250K in 2018. That house is now $337K.
This post was edited on 10/21/26 at 10:57 am
Posted on 10/21/26 at 11:01 am to Bayou_Tiger_225
Good post. There are winners and losers from every generation. You appear to be on your way to long term success. Good for you..
Posted on 10/21/26 at 11:09 am to Mingo Was His NameO
quote:
It’s very simple, more poor and stupid people make me worse off.
I like stupid people. Can’t make any money if everyone is smart.
Posted on 10/21/26 at 11:09 am to gaetti15
I'm living life just fine, but I see the reality that a majority of the folks deal with on a daily basis.
You call it pessimism, I call it realism
OK, I don’t know it you are a robot or not, but, damn, you sure are a downer.
Everything you post is negative, negative, negative. So, I’m inclined to think you are some sort of foreign robot.. So, in the spirit of that, I just have to say -frick YOU
Now that’s off my chest, on the off chance that you are real, dude— get a grip. Try to have a little bit of optimism in your life.
Life is good - and this is coming from a man whose wife died a horrible death from cancer 5 years ago.
If you are real - go have some fun, hold a woman-or a man- close, smell the scent of their neck, just let loose and don’t let your persona of an internet a-hole get in your way of a good time.
You call it pessimism, I call it realism
OK, I don’t know it you are a robot or not, but, damn, you sure are a downer.
Everything you post is negative, negative, negative. So, I’m inclined to think you are some sort of foreign robot.. So, in the spirit of that, I just have to say -frick YOU
Now that’s off my chest, on the off chance that you are real, dude— get a grip. Try to have a little bit of optimism in your life.
Life is good - and this is coming from a man whose wife died a horrible death from cancer 5 years ago.
If you are real - go have some fun, hold a woman-or a man- close, smell the scent of their neck, just let loose and don’t let your persona of an internet a-hole get in your way of a good time.
Posted on 10/21/26 at 11:09 am to Bayou_Tiger_225
quote:
I really don’t disagree with anything you said. Statistically it’s one of the toughest times for young people to get off the ground and get going. But that doesn’t mean the American dream is dead. It does mean you will have to work harder, and make some real sacrifices, and take a bit of a longer road than many people did before you. As I’ve been saying though, there have been times before where it has also been very tough and this generation is not alone in that. Those people fought through it, and my generation can too. But we have to want it. It isn’t going to be handed to us
Young people really want it all now, and they are struggling with that. Many people call us entitled. We are, but the circumstances of the environment around us has also somewhat conditioned us to be this way. The internet puts everything you want to know at your fingertips immediately. It’s all my generation has ever known. Companies like Amazon can deliver something you want online the same day you order it.
I’ve achieved what many would call the American dream, but not without my own sacrifices. I didn’t go to my dream college because I had a full ride elsewhere and took that. After I graduated college in 2018 I lived at home with my parents for 3 years while working full time to save every penny I could. I moved out 3 months before I got married into the home I currently own, dumping every extra penny I could so I could skip the started home and take advantage of the historically low interest rates, knowing what was to come. I drive a 15 year old paid off truck, with no plans to get a new one anytime soon.
At the same time I recognize that if I bought my house at the same price I did back in 2021 ($325k), my current payment would be almost $1k more a month due to increased interest.
Good post.
This is how it is done.
When my wife and I bought our first home in 2003, we cancelled cable/satellite. We had Public Broadcasting (PBS). We spent our money on down-payment and closing costs. We sacrificed after closing until our reserves were built back up.
We didn't go and furnish the home. We moved our apartment furniture in and had empty bedrooms.
We handmade our TV stand for the new home.
There are right ways and wrong ways to do things, and it sounds like you are making good choices.
Posted on 10/21/26 at 11:11 am to Rockne
quote:
Everything you post is negative, negative, negative. So, I’m inclined to think you are some sort of foreign robot.. So, in the spirit of that, I just have to say -frick YOU
Now that’s off my chest, on the off chance that you are real, dude— get a grip. Try to have a little bit of optimism in your life.
Life is good - and this is coming from a man whose wife died a horrible death from cancer 5 years ago.
If you are real - go have some fun, hold a woman-or a man- close, smell the scent of their neck, just let loose and don’t let your persona of an internet a-hole get in your way of a good time.
Separate yourself from discussion on the internet from someone being miserable. Holy shite dude
Posted on 10/21/26 at 11:13 am to Oilfieldbiology
quote:
Local property assessors also need to start lowering estimated values at these elevated interest rates
This is a much bigger problem than people give credit to. A home's value is what someone's willing to pay for it and assessors are completely ignoring the market. It's fricking people on property taxes as well.
Assessors should have a process where the actual people doing the assessments are independent companies or contractors, not government employees. The office should have at least 3 companies/contractors doing the assessments and should not be able to see which company did what assessment on a given property.
Posted on 10/21/26 at 11:13 am to meansonny
quote:.
When my wife and I bought our first home in 2003, we cancelled cable/satellite. We had Public Broadcasting (PBS). We spent our money on down-payment and closing costs. We sacrificed after closing until our reserves were built back up.
We didn't go and furnish the home. We moved our apartment furniture in and had empty bedrooms.
We handmade our TV stand for the new home
You think people don’t do this shite now?
Most young people pay $8.99 for Netflix and don’t have cable, and buy particle board tv stands off Amazon for like $40. The problem is they are furnishing a studio that cost 40% of their net income.
Posted on 10/21/26 at 11:16 am to TigerFanatic99
quote:
A home's value is what someone's willing to pay for it and assessors are completely ignoring the market.
If you have good comps, this will absolutely be done. And it’s not hard, you can just email the shite in nearly everywhere.
quote:
Assessors should have a process where the actual people doing the assessments are independent companies or contractors, not government employees. The office should have at least 3 companies/contractors doing the assessments and should not be able to see which company did what assessment on a given property.
1. This isn’t free
2. It’s a horrible idea because these kinds of arrangements are generally done on a contingent basis and even if they aren’t, private entities have a profit motive, government does not. This would skyrocket appraisal costs.
Posted on 10/21/26 at 11:17 am to Mingo Was His NameO
quote:
private entities have a profit motive, government does not.
In this instance, the government has a revenue incentive that is essentially the equivalent to profit motives.
Posted on 10/21/26 at 11:17 am to gaetti15
You have some names and specifics, of is this just another made-up story trying to generate some internet tears?
Because that’s what it seems like
Because that’s what it seems like
Posted on 10/21/26 at 11:19 am to Mingo Was His NameO
quote:
You think people don’t do this shite now?
It was 1 example of life choices.
Do you honestly want me to list the other 99 life choices from 2003?
Good lord.
And PBS is $0 every month.
The point was to do without.
Edit to add: and building the stand cost $5.
What is your biggest priority?
What is in the way of your biggest priority?
This shite isn't rocket science.
I've got 4 kids.
Homeownership is not the biggest priority for any of them.
People just need to be honest.
This post was edited on 10/21/26 at 11:24 am
Posted on 10/21/26 at 11:20 am to Mingo Was His NameO
quote:
private entities have a profit motive, government does not
Government absolutely has a profit incentive in home assessments being as high as possible in states with property taxes. It's legitimately abused.
Posted on 10/21/26 at 11:21 am to Oilfieldbiology
quote:
In this instance, the government has a revenue incentive that is essentially the equivalent to profit motives
I get what you are saying, but no. The assessor doesn’t get paid more or less based on how much he collects in tax and he’s not competing for other clients. Private entities can put a premium on their rates because they can do other work. And you want to triple the amount of people doing assessments, that alone triples the price.
Trust me, I see contract audits and assessments all the time, taxpayers do not want them. In fact, I think they should be illegal.
You have to separate this conversation from the fact that there is a ton of waste and taxes collected should absolutely be minimized. That’s a totally different conversation. But the idea of have 3 independent assessments by private entities is a horrible one.
This post was edited on 10/21/26 at 11:24 am
Posted on 10/21/26 at 11:27 am to meansonny
quote:
The point was to do without.
"Doing without" to them means shortening the annual skiing trip to Aspen from 7 nights to 5 nights. That's real sacrifice, man.
Posted on 10/21/26 at 11:27 am to Rockne
quote:
If you are real - go have some fun, hold a woman-or a man- close, smell the scent of their neck, just let loose and don’t let your persona of an internet a-hole get in your way of a good time.
disconnect yourself from the reality of what you think I am because none of those things you stated about me are true in real life
Posted on 10/21/26 at 11:30 am to DrrTiger
quote:
"Doing without" to them means shortening the annual skiing trip to Aspen from 7 nights to 5 nights. That's real sacrifice, man.
No one has more credit card debt and less savings than Boomers
Posted on 10/21/26 at 11:32 am to TheGhostOfBigLee
Some of the comments in this thread are laughable. In DFW, houses that were $200k 20 years ago are selling for $900k today. My brother has his 1600 sqft DR Horton house in Grapevine, TX on the market right now for $495k. If you’re actually in a place where the jobs are, housing is insanely expensive. We make top 10% household money and are having a hard time getting a nice home in a good school district with a reasonable commute. If you got in the housing market before 2021 you’re doing great - if not, you are screwed. Between mortgage, $15k property tax, insurance a payment is going to be about $6k month for a house that needs work and was built in the 90s
Posted on 10/21/26 at 11:36 am to Mingo Was His NameO
quote:
No one has more credit card debt and less savings than Boomers
Which is ignored by kids today.
Credit card debt saddled every previous generation.
Kids today cry about student loans without realizing that previous generations had the same burdens at 20% interest rates.
Bankruptcy rates have plummeted the past 15 years.
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