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re: I think people need to accept that the housing window has closed
Posted on 7/31/26 at 3:05 pm to Judnnc
Posted on 7/31/26 at 3:05 pm to Judnnc
I’d rather live in a mobile home before paying $600k for some 4br/2b McMansion. Unfortunately that’s the case now.
$275k gets you a DSLD starter home in Louisiana. Glad I bought when rates were low. I’m stuck here now.
$275k gets you a DSLD starter home in Louisiana. Glad I bought when rates were low. I’m stuck here now.
0
Posted on 7/31/26 at 3:05 pm to gaetti15
quote:
The house market (and the economy) have been stupid since COVID.
—M2 expands by 40% in about 2 years
—Fed left interest rates at zero for 2 years
—No coincidence inflation reached a 40 year high in 2022
—Housing was under built for more than a decade following the 2008 financial crisis, then COVID hit, followed by a two-year window of historically low mortgage rates.
—By 2022 over 65% of homes had mortgages under 4%
—Today over 50% of homes have mortgages under 4%
—40% of US homes have no mortgage vs. 30% in 2008
You got dudes in here just saying “suck it up, strap your boots on and go save your money for a down payment like everyone else has!”
Are we really going to act like 2020-2022 just didn’t happen and there were no lasting repercussions?!?!?
This post was edited on 7/31/26 at 3:07 pm
Posted on 7/31/26 at 3:05 pm to armytiger96
quote:
I had three kids in daycare at same time while paying two house notes because I made a bad financial decision and managed to survive. Oh yeah my interest rate at the time was a historically low 6.0 on both houses.
You’re literally arguing against yourself and you don’t realize it
Posted on 7/31/26 at 3:05 pm to Odysseus32
Don’t worry. The government will provide your housing.
Posted on 7/31/26 at 3:06 pm to CPA Yung Boi
quote:
CPA Yung Boi
Lol, is this Mingo? He's back?
Posted on 7/31/26 at 3:06 pm to Tiger4life306
quote:
You got dudes in here just saying “suck it up, strap your boots on and go save your money for a down payment like everyone else has!”
Well, to be fair, those same dudes haven’t a clue what an M2 is
Posted on 7/31/26 at 3:09 pm to CPA Yung Boi
quote:
But you can do everything “right” and not be able to buy a decent house until 15 years later than your parents did.
If you can't afford to buy a house until you are 35 you fricked up somewhere.
Or you refuse to buy a house within your means.
Posted on 7/31/26 at 3:11 pm to baldona
quote:
Again though this is the avg or median. I'd bet if you took the Avg age of the top 30% of income earners it would be much much lower
Posted on 7/31/26 at 3:12 pm to GoCrazyAuburn
quote:
You really struggle with basic concepts, don't you?
No I don't struggle with basic concepts. I just don't accept the "woe is me" rhetoric that is spewed here daily.
Y'all are more than welcome to enjoy your "woe is me; life is hard circle jerk" all you want. It's not going to solve your problems or change anything.
Posted on 7/31/26 at 3:13 pm to CPA Yung Boi
quote:
This is how first world economies are supposed to work.
Sure, but don't lay a guilt trip on me because you can't live better than I did when I was your age. I don't give a frick.
Posted on 7/31/26 at 3:14 pm to Dire Wolf
The median age can go up for many reasons not just because of home prices.
Posted on 7/31/26 at 3:15 pm to Penrod
quote:
Sure, but don't lay a guilt trip on me because you can't live better than I did when I was your age. I don't give a frick.
I’d like to leave the world a little better than I found it but I got kids n shite yo
Posted on 7/31/26 at 3:15 pm to fightin tigers
quote:
10% of your income should be easy.
So we are looking at roughly 8 ish years of saving for the median household income to afford a house that is $100k under the median home price currently, and you want us to believe that is a reasonable baseline and not an issue?
Posted on 7/31/26 at 3:15 pm to Penrod
Setting aside the guilt trip aspect
Culturally, shouldn't we look at that fact and go "that's probably not great"? Shouldn't we look at the idea that a single income family can't live in a decent community with reliable schools and have access to a lot of career paths and go "this isn't what we want"?
Culturally, shouldn't we look at that fact and go "that's probably not great"? Shouldn't we look at the idea that a single income family can't live in a decent community with reliable schools and have access to a lot of career paths and go "this isn't what we want"?
Posted on 7/31/26 at 3:18 pm to CPA Yung Boi
quote:
I’d like to leave the world a little better than I found it but I got kids n shite yo
Me too. And I did leave the world better. I had four kids who are now in their 30s and don't fricking whine about their lot in life. They are earning their own way and doing fine making the world better!
Posted on 7/31/26 at 3:19 pm to armytiger96
quote:
No I don't struggle with basic concepts.
You sure seem to. Can't seem to grasp a simple fact like the downpayment requirements for new home buyers now is significantly more than in the past as a percentage of income. That isn't "woe is me", that is pointing out a reality of the current housing situation.
Posted on 7/31/26 at 3:20 pm to Penrod
quote:
Me too. And I did leave the world better. I had four kids who are now in their 30s and don't fricking whine about their lot in life. They are earning their own way and doing fine making the world better!
Having less poor people around them makes their lives better.
I’m doing just fine. But I’d prefer not to have to deal with trashy frickers when I get gas or go to the grocery store so I’m in favor of our country being less trashy.
YMMV
Posted on 7/31/26 at 3:20 pm to Odysseus32
Now you tell me after I put an offer on another house today!
FYI, it's a fixer upper anyone could buy, but no one wants to bother with because they all think they deserved a brand new house as their first home. Good for me because I will have instant equity when I add it to my growing rental portfolio in a few months.
FYI, it's a fixer upper anyone could buy, but no one wants to bother with because they all think they deserved a brand new house as their first home. Good for me because I will have instant equity when I add it to my growing rental portfolio in a few months.
Posted on 7/31/26 at 3:20 pm to GoCrazyAuburn
quote:
So we are looking at roughly 8 ish years of saving for the median household income to afford a house that is $100k under the median home price currently, and you want us to believe that is a reasonable baseline and not an issue
You can't finance? If you have decent credit you can put down 10% or less and start paying towards owning the house.
Posted on 7/31/26 at 3:21 pm to CatfishJohn
quote:
I hope that bubble pops before my kids are that age.
Start saving now for them to buy a home, just like what families do for college, well responsible ones anyway.
If you can get your kids through college without debt, and they make a smart FHA 1% down purchase on that first property, they can be set for the rest of their lives.
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