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re: How imminent is a housing crisis in this country?
Posted on 10/22/26 at 7:10 am to theCrusher
Posted on 10/22/26 at 7:10 am to theCrusher
quote:
Success today requires an entrepreneurial mindset. That doesn't necessarily mean starting a business. It means taking ownership of your future, continuously developing valuable skills, recognizing opportunities, adapting to change, and understanding how to create value rather than simply trading your time for a paycheck.
I agree with you, but the type of person you described is a small minority.
The vast majority who don't fit that description will eventually start causing societal problems on a scale that we haven't seen before in this country, or at least not for a very long time (robber baron / depression era).
Posted on 10/22/26 at 8:29 am to Stinger_1066
quote:
I agree with you, but the type of person you described is a small minority.
The vast majority who don't fit that description will eventually start causing societal problems on a scale that we haven't seen before in this country, or at least not for a very long time (robber baron / depression era).
#nailedit
You want a peasant revolt? This is how you get a peasant revolt. By just ignoring everything
Posted on 10/22/26 at 8:49 am to Kingshakabooboo
Nothing wrong here
Posted on 10/22/26 at 8:54 am to Jake88
quote:
Im X and had a five figure debt for undergrad. More for grad school.
Where did you go to school?
State schools in the 90s were like 3 or 4 grand a year in tuition and fees.
Posted on 10/22/26 at 8:58 am to DVinBR
Chart is misleading. Show it in percentages. Bet the ratios are much closer.
This post was edited on 10/22/26 at 9:00 am
Posted on 10/22/26 at 9:00 am to Buck_Rogers
quote:
Chart is misleading. Show it in percentages. Bet the ratios are much closer.
Serious question, did you finish the 3rd grade?
Posted on 10/22/26 at 9:43 am to Jake88
Ok Jake
Posted on 10/22/26 at 12:16 pm to Mingo Was His NameO
You must be retarded. Not a question either...
Posted on 10/22/26 at 12:21 pm to Buck_Rogers
quote:
Chart is misleading. Show it in percentages. Bet the ratios are much closer.
Agreed.
This post was edited on 10/22/26 at 12:23 pm
Posted on 10/22/26 at 12:42 pm to Buck_Rogers
quote:
You must be retarded. Not a question either...
If you show it in percentages it’s going to be the same exact chart
Posted on 10/22/26 at 1:13 pm to Buck_Rogers
quote:
Show it in percentages. Bet the ratios are much closer.
This post was edited on 10/22/26 at 1:38 pm
Posted on 10/22/26 at 1:58 pm to DrrTiger
always found that stuff misleading because they are just ONLY factoring in the price of the house. Not what people actually have to pay to be in the house (not utilities, etc...but things like interest rates + insurance).
That's the true cost of the home to compare against mean family income.
That's the true cost of the home to compare against mean family income.
This post was edited on 10/22/26 at 1:59 pm
Posted on 10/22/26 at 2:01 pm to gaetti15
People bought houses they couldn't *truly* afford. Much different than "we can make the payment". They didn't realize it until they try to buy a new house with higher rates + inflation. So they stay in their house, unhappy with the place but "muh rate" keeps them there. Our country is very financially illiterate.
Posted on 10/22/26 at 2:02 pm to Texas Tea 123
quote:
People bought houses they couldn't *truly* afford. Much different than "we can make the payment". They didn't realize it until they try to buy a new house with higher rates + inflation. So they stay in their house, unhappy with the place but "muh rate" keeps them there. Our country is very financially illiterate.
If the cost of money is cheap (or free), you can accumulate more assets. That’s not financial illiteracy
That’s quite literally the entire premise of interest rates. Low rates incentivize investment, high rate incentive saving
This post was edited on 10/22/26 at 2:04 pm
Posted on 10/22/26 at 2:07 pm to gaetti15
IMO, another major issue with the housing market is mortgage lenders approve loans that are entirely too much. Yes, it is absolutely up to the homebuyer to not borrow more than they can afford to pay off every month, but when I bought my first house, I was approved to borrow up to 5x my annual salary for a mortgage. That's insane. If I had actually borrowed that much, there is no way I'd have been able to make the monthly mortgage payment.
Posted on 10/22/26 at 2:09 pm to Mingo Was His NameO
quote:
If the cost of money is cheap (or free), you can accumulate more assets. That’s not financial illiteracy
That’s quite literally the entire premise of interest rates. Low rates incentivize investment, high rate incentive saving
Thanks for describing the most basic concept in finance and life, leverage.
I am talking about people's view of "affordability".
Also, what's the point in accumulating assets (like a primary residence, I'm not talking about investing in true assets) if you can never monetize it because you can't afford anything new and can't take a heloc out since rates are so high?
This post was edited on 10/22/26 at 2:10 pm
Posted on 10/22/26 at 2:10 pm to Texas Tea 123
quote:
Also, what's the point in accumulating assets (like a primary residence, I'm not talking about investing in true assets) if you can never monetize it because you can't afford anything new
This I agree with and I treat my home as an expense not an asset. But when money is cheaper you can *afford* more. Now money is more expensive and people can afford less. That’s kind of the definition of affordability
Posted on 10/22/26 at 2:11 pm to Texas Tea 123
quote:
IMO, another major issue with the housing market is mortgage lenders approve loans that are entirely too much.
100%. They will approve an amount that's so much higher than what someone can truly afford. "But the fancy sophisticated bank said we were good and I don't know any better, so we're good"
Posted on 10/22/26 at 3:00 pm to Oilfieldbiology
quote:
On houses that were 2/3 the size and 1/8 the value of what they are now.
In 1977 Dad paid $21,000 at some crazy high APR for our first house, 900 sq feet. 3BR, 1.5 bath. Few houses that small these days.
This post was edited on 10/22/26 at 3:01 pm
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