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re: How imminent is a housing crisis in this country?
Posted on 10/21/26 at 7:46 pm to TheGhostOfBigLee
Posted on 10/21/26 at 7:46 pm to TheGhostOfBigLee
Make mortgages assumable.
Posted on 10/21/26 at 7:55 pm to Raging Tiger
quote:100%. Statistically, over 50% of first time home buyers in 2026 had financial help from family
No one can afford to buy unless they are mid 40’ or older (or have help from parents) and well established.
Posted on 10/21/26 at 7:57 pm to TrueTiger
quote:
Make mortgages assumable.
Would you rather get yourself a low interest rate?
Or a higher rate that you could share with the next homeowner?
Posted on 10/21/26 at 8:00 pm to MC5601
quote:
Statistically, over 50% of first time home buyers in 2026 had financial help from family
Ugh man I wish
Posted on 10/21/26 at 9:02 pm to MC5601
I was absolutely shredded when I said parents are making the housing market worst because they don’t tell their kids no. The rich stay rich…
Posted on 10/21/26 at 9:04 pm to Oilfieldbiology
quote:
Bull shite on ALL of this
Not bull shite at all. I grew up from the mid 70’s to 1990 in a 3/1 1200 sf home with one car carport.
My first home was purchased in 1994 at 7.5% interest rate. It was a 3/1 1000 sf with no covered parking.
My second home was purchased in 1995 at 7%. It was a 3/2 1450 sf w/2 car garage.
My third home and the one I raised my children in was purchased in 2000 at 6.75% and was a 3/2 1650 sf with 2 car garage. Stayed in that house for 19 years.
The entire time I’ve been married we never carried more than one car note and some years we had none. Always kept my wife in newer vehicles but I have always driven older used trucks.
And no, we weren’t poor. Just always lived slightly below our means.
Posted on 10/21/26 at 9:07 pm to Mingo Was His NameO
quote:
You are consistently one of the dumbest mother frickers in these threads. Total moron
Hello pot meet kettle . . . Let's take a look at your intelligent takes for the day:
quote:
The people bitching about young people lived through the most prosperous time in this country’s history
So the Millennials are bitching about the young people? They are the ones that have seen the greatest yearly ROI's since coming into the work force.
"The S&P 500 is now up:
+12.1% per year since 1980
+10.6% per year since 1990
+7.8% per year since 2000
+13.9% per year since 2010"
Boomers have seen the market avg of 10% across their investing lifetime. The Greatest Generation actually enjoyed the most prosperous time in our country's history, the 1950's, but I don't think many of them are on this board bitching about the young people.
Here's take number 2
quote:
I’ve explained this to you morons a thousand times. Boomers are “hoarding” the wealth. A couple of thousand of them control essentially all of the liquid assets of this country. The rest are hoarding the assets that are leveraged to the gills and thus will provide little value to their heirs
Actually, 4.2 MM Boomers hold 71% of Boomer wealth. The top 1% only controls 30%. You were only off by a factor of "a couple of thousand." How ironic!
quote:
The top 10% of Baby Boomer households—representing roughly 4.2 million households (out of roughly 42 million total Boomer households)—control 71% of all wealth owned by the Baby Boomer generation.
Here's take 3:
quote:
No one has more credit card debt and less savings than Boomers
How can Boomers "hoard all the wealth" and have all the debt? Someone doesn't know the definition of wealth does he? This is quite literally the definition of being "consistently one of the dumbest mother frickers in these threads. Total moron!"
Oh yeah, your statement is only factually correct if you take every other generation out of the equation:
quote:
Generation X currently holds the highest debt in the United States, carrying a median non-mortgage debt of roughly $24,723 and the highest overall total debt loads (around $6.69 trillion). Millennials trail closely behind them, followed by Gen Z and Baby Boomers.
Dude, you may want to stick with name calling and slinging insults because other than being the grammar police that appears to be the only value you provide this board!
This post was edited on 10/21/26 at 9:12 pm
Posted on 10/21/26 at 9:09 pm to Kingshakabooboo
quote:
My third home and the one I raised my children in was purchased in 2000 at 6.75% and was a 3/2 1650 sf with 2 car garage. Stayed in that house for 19 years.
The entire time I’ve been married we never carried more than one car note and some years we had none. Always kept my wife in newer vehicles but I have always driven older used trucks.
And no, we weren’t poor. Just always lived slightly below our means.
That was long time ago
Posted on 10/21/26 at 9:11 pm to armytiger96
quote:
Generation X
Mommy and daddy not loving one another really fricked this generation
Posted on 10/21/26 at 9:15 pm to gaetti15
quote:
Mommy and daddy not loving one another really fricked this generation
It's more keeping with the Joneses that fricked us up. Well, that and compounding interest on credit card debts.
Posted on 10/21/26 at 9:20 pm to TrueTiger
quote:
Make mortgages assumable.
I'll ask you the question a realtor asked me when I inquired about assumable mortgages as a young first time homebuyer.
"How do you plan on paying the buyer's their equity if you assume their loan?"
This post was edited on 10/21/26 at 9:21 pm
Posted on 10/21/26 at 9:21 pm to TheGhostOfBigLee
30 year rates were 8% when I bought my 1st home, but back then ARMs were 4.5% so I took that risk and it worked. Today the delta between the 30 year and the ARM doesn't help enough to take that risk.
Both of my kids managed to buy homes by 30 with no direct help from us. My daughter lived at home while engaged and they had the downpaymnet saved before they were married. My son went on a deployment and bought with a VA loan the month he got home.
It is tougher for average income folks to buy homes now unless you find an edge like they did.
Both of my kids managed to buy homes by 30 with no direct help from us. My daughter lived at home while engaged and they had the downpaymnet saved before they were married. My son went on a deployment and bought with a VA loan the month he got home.
It is tougher for average income folks to buy homes now unless you find an edge like they did.
Posted on 10/21/26 at 9:23 pm to armytiger96
quote:
I'll ask you the question a realtor asked me when I inquired about assumable mortgages as a young first time homebuyer.
"How do you plan on paying the buyer's their equity if you assume their loan?"
That would be down-payment and 2nd mortgage.
Your realtor isn't smart.
The problem is mortgage underwriting and common sense buying habits.
Your mortgage company will give you the best rate possible based on your down-payment, income, and credit payment history.
If you are willing to start with a higher interest rate, your mortgage company may offer you an assumable mortgage.
How many people do you think are willing to take an assumable mortgage so that the next homeowner can get a good deal?
Posted on 10/21/26 at 9:25 pm to TheGhostOfBigLee
Bunch of guys at work in their 30s buying houses.
Posted on 10/21/26 at 9:27 pm to Jake88
quote:
Boomers paid 14% at times you little no count Z'er.
Yeah for houses that cost $30,000-40,000.
The small principal made the high interest rate not that big of a deal.
Posted on 10/21/26 at 9:40 pm to armytiger96
quote:
It's more keeping with the Joneses that fricked us up. Well, that and compounding interest on credit card debts.
Idk grunge music exists for a reason
Posted on 10/21/26 at 9:48 pm to armytiger96
quote:
armytiger96
You spent 30 minutes writing a post with a bunch of inaccuracies
Posted on 10/21/26 at 9:50 pm to meansonny
quote:
That would be down-payment and 2nd mortgage.
I was saying that tongue in cheek . . . Obviously, the determination of an assumable mortgage is a good deal would have to be evaluated on case by case basis.
If you tried buying a house that is almost paid off with that approach you would get "eaten alive" by the higher second mortgage rate compared to the primary mortgage.
Posted on 10/21/26 at 9:50 pm to meansonny
quote:
I'll ask you the question a realtor asked me when I inquired about assumable mortgages as a young first time homebuyer. "How do you plan on paying the buyer's their equity if you assume their loan?"
quote:
Your realtor isn't smart.
Neither is he
The flow of that kind of transaction is about as simple as it gets
Posted on 10/21/26 at 9:51 pm to Mingo Was His NameO
quote:
You spent 30 minutes writing a post with a bunch of inaccuracies
Sure Jan
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