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re: How imminent is a housing crisis in this country?
Posted on 10/21/26 at 8:39 am to Tigahs24Seven
Posted on 10/21/26 at 8:39 am to Tigahs24Seven
quote:
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.
This.
For some reason, starting with the Millennial generation, they felt that they should be immune from having to start at the bottom like everyone before them. The thought of having to drop their living standard after leaving their parents' home is completely inconceivable to them.
Posted on 10/21/26 at 8:41 am to DrrTiger
quote:
. The thought of having to drop their living standard after leaving their parents' home is completely inconceivable to them
I got a place in college around '09/10 that was 1 bedroom/1 bathroom, cinderblock style apartment room around the corner from LSU. It was $500/month.
You know how much that shite would cost now?
(building has since been torn down and replaced by a lavish apartment complex)Posted on 10/21/26 at 8:41 am to Rockne
quote:
Monthly Payment Example: A $100,000 loan at roughly 18.45% resulted in a principal and interest payment of about $1,544 per month
That was a very nice house. Now $1,500 a month gets you a studio in the ghetto in any mid sized city and up
Posted on 10/21/26 at 8:43 am to armytiger96
quote:
armytiger96
You are consistently one of the dumbest mother frickers in these threads. Total moron
Posted on 10/21/26 at 8:44 am to TheGhostOfBigLee
How imminent is a housing crisis in this country?
—not even close to the real housing crisis right after WW2
—not even close to the real housing crisis right after WW2
Posted on 10/21/26 at 8:44 am to Mingo Was His NameO
quote:
That was a very nice house. Now $1,500 a month gets you a studio in the ghetto in any mid sized city and up
and then on top of this people think the economy is roaring just because the stock market.
H1Bs taking jobs, companies putting out ghost hires, advent of AI, it goes on and on and on
I've had talks with my old man before, he's turning 80. He's completely out of touch with how the real world is because he basically just stays at home and watches the news.
ETA: brought him to get new tires the other day, he was shocked that his preferred tires jumped up to like 300 dollars per tire
This post was edited on 10/21/26 at 8:46 am
Posted on 10/21/26 at 8:45 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. Same condition.
Let me guess: Flood zone X? Higher demand for that flood zone is tearing up that part of the market. The next thing that is going to frick us is the way appraisals will be done. Insurance companies want them to assess risk in it now. So if your AC and roof are 15 years old your value is going to be lower
Posted on 10/21/26 at 8:45 am to Tigerstark
Banks are also seeing a lot of people who, for some reason got ARMs during COVID, are having large jumps as their first post COVID rate adjustment is now hitting. Those 3% rates are now moving 5% or higher and that can make a big difference in payments. That trends going to continue for at least the next year or two until we get past the 5 to 7 year time frame where most of them are gonna adjust.
Posted on 10/21/26 at 8:46 am to Jake88
quote:
1500 sqft. to raise the family.
Why did they need so much space?
Posted on 10/21/26 at 8:46 am to TheGhostOfBigLee
It's coming but it won't be a 'crash' it will be a slow downward spiral. Don't listen to the real estate agents on here they are full of shite and hopium.
Posted on 10/21/26 at 8:49 am to DrrTiger
quote:
For some reason, starting with the Millennial generation, they felt that they should be immune from having to start at the bottom like everyone before them. The thought of having to drop their living standard after leaving their parents' home is completely inconceivable to them.
the strawmen you people build
Posted on 10/21/26 at 8:50 am to Bayou_Tiger_225
quote:
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.
i ran claude to compare 81 to today. 81 came out 2% more expensive than today including tax, insurances and rates
Posted on 10/21/26 at 8:51 am to DrrTiger
quote:
For some reason, starting with the Millennial generation, they felt that they should be immune from having to start at the bottom like everyone before them. The thought of having to drop their living standard after leaving their parents' home is completely inconceivable to them.
Most people live in apartments or rent until they are nearly 40 so this is just verifiably untrue
Posted on 10/21/26 at 8:52 am to Dire Wolf
quote:
insurances
I don't believe that if you live along the Gulf coast
Posted on 10/21/26 at 8:53 am to gaetti15
quote:
I got a place in college around '09/10 that was 1 bedroom/1 bathroom, cinderblock style apartment room around the corner from LSU. It was $500/month.
Just checked, and the 1BR/1BA dump I lived in in 1998 is still there. Rent was $425/month then and it's $800 now. Doesn't seem that out of line for 28 years.
Posted on 10/21/26 at 8:56 am to DrrTiger
quote:
Just checked, and the 1BR/1BA dump I lived in in 1998 is still there. Rent was $425/month then and it's $800 now. Doesn't seem that out of line for 28 years.
It’s 30 years older and in more of a ghetto for twice the price
Posted on 10/21/26 at 8:57 am to Mingo Was His NameO
quote:
It’s 30 years older and in more of a ghetto for twice the price
correct
Posted on 10/21/26 at 9:00 am to Mingo Was His NameO
quote:
It’s 30 years older and in more of a ghetto for twice the price
It was a dump when I lived there, but I was happy to have it. It was independence for a person starting out.
You'd rather whine and complain that it doesn't meet your standards.
Posted on 10/21/26 at 9:00 am to Dire Wolf
That makes sense. I didn’t include taxes and insurance in my calculations. My assumption was that those two wouldn’t eat into the difference that much, but clearly I was wrong on that.
If that’s the case, then it really shift the overall conversation to point to 2026 being the most unaffordable time since 1970. And before anyone ask why I’m not going further back, it wasn’t to try and cut off more data . Just picked a range that would be applicable to most posters on here. Anyone else is welcome to add info from time before that.
If that’s the case, then it really shift the overall conversation to point to 2026 being the most unaffordable time since 1970. And before anyone ask why I’m not going further back, it wasn’t to try and cut off more data . Just picked a range that would be applicable to most posters on here. Anyone else is welcome to add info from time before that.
Posted on 10/21/26 at 9:02 am to DrrTiger
quote:
You'd rather whine and complain that it doesn't meet your standards.
I make more money and have a nicer house than you. I’m just not oblivious or willfully ignorant about the things happening around me
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