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re: How imminent is a housing crisis in this country?
Posted on 10/21/26 at 7:14 am to Bayou_Tiger_225
Posted on 10/21/26 at 7:14 am to Bayou_Tiger_225
quote:
You can change that number, but it still doesn’t change the fact that in 2026 it takes a much greater percentage of your household income to get to whatever percentage you set than it did in 1981. About 25% more.
Of course it doesn't, it's simple mathematics of compounding interest as houses and wages go up at the same rate over time the spread between the two will get larger every year.
It doesn't mean its harder to get into the house. I'm on my 3rd house if I take my purchase price of all three houses that I purchased in the past, adjust the purchase price for inflation and compare it to todays market value it is cheaper to buy each of those houses today than it was when I purchased them.
See we can all use math to illustrate a point. It doesn't make one more right than the other. Just like because its harder to get into a house doesn't mean we have a crisis.
Posted on 10/21/26 at 7:15 am to Tigersforthee
quote:
We bought our house in 2020 and got a sub 3% rate. The plan was to keep it til about now then downsize once the kids were gone. Now we have basically decided just to stay here, possibly forever. No need to downsize if your payments not gonna go down much, if any.
We did the same thing - our mortgage is 1.875%. Our plan was to stay through our daughters graduation a year from next May. We will most likely put ours on the rental market - rent would cover the mortgage by a little more than double currently....and build a smaller house out of pocket over the next year and a half. I am about 10% done with the house - almost got the dirt work and shop complete LOL. I don't think we will ever actually sell this house because of the mortgage we have on it....rental prices for similar homes, with almost none ever coming on the market, would more than double the payment. That will go a long way toward management fees and maintenance.
Posted on 10/21/26 at 7:16 am to tigerinthebueche
quote:
So just like most families did in the 70s.
Yeah but we keeping the Grand Cherokee. They don’t make station wagons anymore
Posted on 10/21/26 at 7:17 am to AwgustaDawg
quote:
Homes near military bases will always sell in short order and will almost always slowly increase in value - not the wild increases seen elsewhere but also none of the lows.
Very good observation and it's 100% correct. The only asterisk is that those towns (like Augusta or Bossier) are one trick ponys when it comes to the economy. Lose the base, and those houses collapse.
Neither of that is happening anytime soon to those towns - so your strategy is a very good one so long as the housing isn't overbuilt.
I'd argue that the even safer buy is actually in towns that aren't cool, but have a low key diverse economy that avoids those intense boom and bust cycles (like Austin). Find the right spot in Tulsa, Baton Rouge, Mobile, etc. Although in Baton Rouge and Mobile insurance is a big headache and makes cash flow positive deals harder.
This post was edited on 10/21/26 at 7:19 am
Posted on 10/21/26 at 7:18 am to kywildcatfanone
[/quote]Your generation just doesn't want to listen to the facts. Thank you for doing so.[/quote] Their assertion that housing is the most unaffordable ever isn’t a black and white correct or incorrect. Different statistics can give you different answers (funny how that always seems to be the case 
)
Most unaffordable in terms of percentage of income? No. 1981 was worst by about 10%. Most unaffordable in terms of listed home price relative to percentage of income? Yes, that’s accurate. Overall affordability when considering housing, transportation, food, childcare? They are about equal.
So is now the most unaffordable time every? No. Is it tied with what has been considered one of if not the most unaffordable times since the Great Depression? Yes.
) Most unaffordable in terms of percentage of income? No. 1981 was worst by about 10%. Most unaffordable in terms of listed home price relative to percentage of income? Yes, that’s accurate. Overall affordability when considering housing, transportation, food, childcare? They are about equal.
So is now the most unaffordable time every? No. Is it tied with what has been considered one of if not the most unaffordable times since the Great Depression? Yes.
Posted on 10/21/26 at 7:19 am to Jake88
quote:
Boomers paid 14% at times you little no count Z'er.
That must’ve been awful for them with that 2,300 square foot 4 bed/2 bath on a half acre they scooped up in 1980 for $75k.
But in all seriousness, I think the bigger crisis now is people not willing to live in more affordable places. They all want to live in a nice house in a top 10 market. They’ll scoff at a well-paying corporate job in Kansas City or Cleveland where money still goes a long way for a house. They’re too good for that.
This post was edited on 10/21/26 at 7:22 am
Posted on 10/21/26 at 7:20 am to Oilfieldbiology
quote:
The boomers need to recognize that their homes are no longer selling for what they’re 5-10 years ago and need to start lowering the fricking prices.
Eta
Local property assessors also need to start lowering estimated values at these elevated interest rates.
Boomers own their fricking houses because they started in teeny, tiny little starter house pieces of shite, worked multiple jobs to afford that piece of shite, then worked their way up to where they are today. You spoiled crybabies want to just start by buying their houses as your first home because, well, you deserve luxury everything.... which is the bulk of your issue. It's not them, it's YOU.
Now, you want their home for a lesser price because you say it's not worth what they think it's worth anymore. Hilarious.
Newsflash, they don't have to sell you shite because they own what they live in AFTER WORKING A LIFETIME TO GET THERE. So, go find a starter house, fix it up and stop crying like a 2 year old.
Posted on 10/21/26 at 7:26 am to Bayou_Tiger_225
of course they do. I didn’t say otherwise. what I said was as compared to 1981, the percentage of household income it takes to afford that is greater in 2026 than it was in 1981.
You are comparing income ratios to 45 years ago. Why not 75 years ago, 100? Things change.
My wife and I bought our first house in 1998 with a 30 year 7% mortgage.
That was the going rate back then, as it is now.
I get that people were conditioned to artificially low rates for years,
I think people’s expectations have increased over the years, they want the house, new cars, vacations like their Facebook friends have, the best of everything.
Back then, we were just trying to pay the mortgage, raise the kids right, and enjoy our life as we knew it within our scope of friends and family.
Now everyone feels like they are entitled to have the newest, greatest, next big thing as soon as it hits the market.
Totally different mind set from previous generations, and maybe why the newest generation doesn’t feel like they can house themselves- because they want it all right from the start.
You are comparing income ratios to 45 years ago. Why not 75 years ago, 100? Things change.
My wife and I bought our first house in 1998 with a 30 year 7% mortgage.
That was the going rate back then, as it is now.
I get that people were conditioned to artificially low rates for years,
I think people’s expectations have increased over the years, they want the house, new cars, vacations like their Facebook friends have, the best of everything.
Back then, we were just trying to pay the mortgage, raise the kids right, and enjoy our life as we knew it within our scope of friends and family.
Now everyone feels like they are entitled to have the newest, greatest, next big thing as soon as it hits the market.
Totally different mind set from previous generations, and maybe why the newest generation doesn’t feel like they can house themselves- because they want it all right from the start.
Posted on 10/21/26 at 7:33 am to armytiger96
I said housing in 1981 was more unaffordable than it is today. It took a greater percentage of your monthly income to pay you mortgage than it does today, by about 10%. And the reason I used 1981 was because that was the absolute worst time. By 1985-1986, the percentage of monthly income to households cost equals 2026, and by 1988, 2026 exceeds it.
But also said you have to consider the cost of everything else it takes to support a family to look at affordability. In 1981, yes it took a greater percentage of household income to pay your mortgage. But at the same time it took a smaller percentage to pay for food, childcare, transportation, insurance. So you could afford to spend a greater percentage on your housing. In 2026, all the other stuff takes a greater percentage of your income to afford, so you have less money to put towards housing
In short, the time frame from 1981-1984 had more expensive housing, but equally overall affordability to 2026. Outside of that specific range, 2026 has greater housing cost and is less affordable than any other time ranging from 1970-2026.
But also said you have to consider the cost of everything else it takes to support a family to look at affordability. In 1981, yes it took a greater percentage of household income to pay your mortgage. But at the same time it took a smaller percentage to pay for food, childcare, transportation, insurance. So you could afford to spend a greater percentage on your housing. In 2026, all the other stuff takes a greater percentage of your income to afford, so you have less money to put towards housing
In short, the time frame from 1981-1984 had more expensive housing, but equally overall affordability to 2026. Outside of that specific range, 2026 has greater housing cost and is less affordable than any other time ranging from 1970-2026.
Posted on 10/21/26 at 7:38 am to Tigahs24Seven
quote:
Boomers own their fricking houses because they started in teeny, tiny little starter house pieces of shite, worked multiple jobs to afford that piece of shite, then worked their way up to where they are today. You spoiled crybabies want to just start by buying their houses as your first home because, well, you deserve luxury everything.... which is the bulk of your issue. It's not them, it's YOU.
So who pushed for the restrictions on new builds that don’t allow for smaller starter homes anymore? Who pushed for the McMansion craze that severely reduced affordable builds for younger families?
It’s all fun and games to point to younger folks when the rules set by the Boomer and Gen X generations have gone a long way to make owning an actual house more unaffordable for a lot of families.
Posted on 10/21/26 at 7:43 am to TheGhostOfBigLee
I’m 36 and about to pay mine off.
Posted on 10/21/26 at 7:48 am to Rockne
quote:I have been nothing but consistent in this thread.
My wife and I bought our first house in 1998 with a 30 year 7% mortgage.
From pretty much every statistical metric or standpoint, it was more affordable for you to purchase your first home in 1998 than it is for a couple to purchase their first home in 2026. And that’s only looking at the cost of housing. When you include overall cost of living, it was materially cheaper for you to do so in 1998 than it is for a couple in 2026.
You can downvote or disagree all you want, but the numbers don’t lie.
As for why I’m not comparing metrics from 100 years ago? Well that’s because a certain generations are having trouble hearing that a younger generation is having an overall harder time than them. I don’t want to pile it on by also saying an older generation than them also had a harder time
Posted on 10/21/26 at 7:53 am to LSU Neil
quote:
now you count get six weeks man vacation for baby births and four weeks vacation out the gate and 100,000 to start.
Where? You got their number??
Or is that the lead paint talking, boomer
Posted on 10/21/26 at 7:53 am to TheGhostOfBigLee
People with covid era sub 3% mortgages are in no hurry to move unless they absolutely have no choice. People who would normally be in the market to upgrade or downsize are staying put because it doesn’t make financial sense to give up their 2.5 or 3% rate
Posted on 10/21/26 at 8:06 am to TheGhostOfBigLee
Don’t care, my house is paid off
Posted on 10/21/26 at 8:07 am to TheGhostOfBigLee
Oh look, another thread where the OT boomers and millenials blame each other for being failures at life.
Posted on 10/21/26 at 8:19 am to SuperSaint
quote:
It’s borderline child abuse if you don’t pay for private school these days
My kid went to public school in Ascension Parish. He's now on a full ride engineering scholarship at an out of state SEC school.
When should I expect a visit from Child Protective Services?
Posted on 10/21/26 at 8:23 am to Tigersforthee
quote:
We bought our house in 2020 and got a sub 3% rate. The plan was to keep it til about now then downsize once the kids were gone. Now we have basically decided just to stay here, possibly forever. No need to downsize if your payments not gonna go down much, if any.
My wife and I are in a similar situation. We bought our house in 2018, refinanced in 2020 at 2.2%. We had designs on downsizing but the numbers just don’t make sense. So we are staying put for at least the next 3-5 years, maybe longer.
Posted on 10/21/26 at 8:25 am to Jimbojambojumbo
Same, sub 3% rate snd was planning to upgrade two years ago. Not happening at 7
Posted on 10/21/26 at 8:30 am to yellowfin
We just moved the youngest kid out of the house, and really don't need the space we have anymore, but the only way we'd downsize at this point is if we could sell and pay cash for the next one.
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