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re: I think people need to accept that the housing window has closed
Posted on 7/31/26 at 1:03 pm to baldona
Posted on 7/31/26 at 1:03 pm to baldona
quote:
Why do you need to be within 20 mins of downtown? That's where your issues are?
Because 20 min is a pretty standard commute. That's like 30-35 at rush hour probably.
Thought that was fair. That brings a lot of surrounding areas into play in Nashville.
0
Posted on 7/31/26 at 1:03 pm to The Baker
$2800 mortgage (relocated for better job giving up our 2.8% interest)
$1400 month for daycare/school
$1700 month student loans for wife and I
$1000ish in bills. Cell/Electric/pest/water/trash/internet/car insurance
At $7,000 in fixed expenses.
Sure we could live rather comfortably if I didn't save anything for the kids. But I'm hoping to help them avoid ending up in the same situation we did
$1400 month for daycare/school
$1700 month student loans for wife and I
$1000ish in bills. Cell/Electric/pest/water/trash/internet/car insurance
At $7,000 in fixed expenses.
Sure we could live rather comfortably if I didn't save anything for the kids. But I'm hoping to help them avoid ending up in the same situation we did
Posted on 7/31/26 at 1:04 pm to deeprig9
It can still be done if you are willing to crank out some shitty years first. At least I hope that's the case.
I mean i get what youre saying, but also, just my opinion, people shouldn't have to worry about getting shot or their children getting shot or getting mugged just so they can afford a house
I mean i get what youre saying, but also, just my opinion, people shouldn't have to worry about getting shot or their children getting shot or getting mugged just so they can afford a house
Posted on 7/31/26 at 1:04 pm to Ace Midnight
quote:
Do you understand how the market works --- at all?
Yes, I’m both a landlord and a renter right now, pretty good idea.
In growing metros it’s nearly impossible for young people to buy. The neighborhood I’m currently renting in has a median home price of nearly $600k for 2k-2.2k square feet…. The same institutional investor that owns the home I’m in has at least 2 more in the neighborhood that they paid cash for.
Anything under half a million gets scooped up for cash or quick close. And if it’s 1,200 square feet it just gets bought for the lot and torn down.
Is it impossible? Well of course it isn’t but it’s a hell of a lot harder than it was even 5 years ago when I bought the property I’m currently renting out.
Posted on 7/31/26 at 1:04 pm to deeprig9
quote:
Anyhow, while we schooled up and careered up and saved up, we could finally buy a nice suburban house in 2017.
quote:
It can still be done
quote:
The median national home sale price has increased by approximately 81% since 2017.
quote:
The median weekly salary for full-time workers in the United States has increased by 45.47% in unadjusted (nominal) dollars since 2017.
Posted on 7/31/26 at 1:05 pm to fightin tigers
quote:
Exactly, they arent.
aren't great areas
That map you posted pretty much tracks with Dallas highest crime areas
Posted on 7/31/26 at 1:05 pm to Odysseus32
quote:
I think people need to accept that the housing window has closed
Families in the 50s got by with 3-bedroom houses with one-car garages, one car, and a single income.
People will adapt.
Posted on 7/31/26 at 1:06 pm to Odysseus32
quote:
Despite what they hear in school, despite what government bodies tell them, the housing market has been co-opted. It isn’t getting better.
No it hasn’t. The reason for home affordability issues is not that homes went up more than wages; they barely did. It’s because tastes in homes went up more than wages.
I’m a boomer (barely). If people were willing to live in the house I started with then the home affordability issue would be mostly solved. They are not willing. So tough shite! Live with your mom. (Not directed at OP)
This post was edited on 7/31/26 at 1:07 pm
Posted on 7/31/26 at 1:07 pm to MC5601
quote:
The upper middle class house that was affordable at $350k per year in 2019 is now $600-700k in most major cities. Salaries have not gone up anywhere near that much in the same time frame. If you purchased before 2020 you’re good because you sit on great equity. Anyone trying to enter the game as a first time buyer will have a very hard time. 55% of Americans say they could not afford the home they currently live in if they were to buy at current market prices
My home has doubled in 6 years in value, at least. And I got it at 3.0% in COVID.
I am, as the French say, "le stuck". If I sold, I would be able to afford essentially the same house because of interest rates
But it could be far worse. We have a very manageable mortgage, plenty of sq ft in a good neighborhood and the only thing we'd change is more land. We're going to renovate piece by piece and live here until kids are gone, then see what the world is like.
Posted on 7/31/26 at 1:07 pm to CPA Yung Boi
quote:
You do t need two bedrooms, but a 750sq foot one bedroom is going to run you somewhere around. $1700.
Cool. You've now saved yourself $800/month. In three years, that's easily the down payment on a house.
Are you an accountant?
quote:
CPA Yung Boi
Posted on 7/31/26 at 1:08 pm to 3deadtrolls
I feel you. I bought my older daughter two skirts and two shirts. They were $160 combined. fricking crazy
Thankfully the younger one has good quality hand me downs from big sister
Thankfully the younger one has good quality hand me downs from big sister
Posted on 7/31/26 at 1:09 pm to Penrod
quote:
The reason for home affordability issues is not that homes went up more than wages; they barely did. It’s because tastes in homes went up more than wages.
This is how first world economies are supposed to work.
Posted on 7/31/26 at 1:09 pm to Crowknowsbest
quote:
It can still be done, but 2017 is a long time ago relative to housing costs.
Housing costs in most of the country have gone up drastically since 2017 but then dropped back down drastically. New builds are up certainly, but I know of plenty of places that have homes for sale for close to the same prices as 2017. Outside of mortgage loan rates.
The main issue with all the negative people in this thread, is that they got comfortable with the historically low interest rates.
Historically, interst rates are around where they are now.
You guys think its bad now, go back to the 80s and early 90s.
Posted on 7/31/26 at 1:11 pm to HouseMom
quote:
Cool. You've now saved yourself $800/month. In three years, that's easily the down payment on a house.
It’s a down payment on a ghetto shack or something that makes you house poor.
Like I said, striving for a 3/2 builder grade house that’s going to rot within a decade in your mid 30s is the epitome of the American dream.
Posted on 7/31/26 at 1:12 pm to baldona
quote:
The main issue with all the negative people in this thread, is that they got comfortable with the historically low interest rates.
No, that isn't what people are complaining about.
Posted on 7/31/26 at 1:13 pm to baldona
This is adjusted for inflation:
This post was edited on 7/31/26 at 1:16 pm
Posted on 7/31/26 at 1:14 pm to Ace Midnight
quote:
It's just silly to say that the next generation won't be home buyers because who then buys all the homes when they go on the market?
That wasn’t close to my point.
My point is that for the next generation to be homebuyers they will have to think outside of the box and accept that the traditional path is not the high probability play that it once was.
Posted on 7/31/26 at 1:14 pm to Odysseus32
I don’t think the rate of home ownership has changed much in the last 50 years. No reason to think it’s going to change much in the future.
Posted on 7/31/26 at 1:14 pm to GoCrazyAuburn
quote:
No, that isn't what people are complaining about.
Yes, it is.
The historically low interest rates allowed A LOT of people to buy in areas they wouldn't have otherwise been able to afford. To upgrade houses they wouldn't have been able to afford, etc.
If interest rates had never gone below 6%, today would be different.
If interest rates were still 3%, housing affordability would still be different.
Posted on 7/31/26 at 1:15 pm to baldona
quote:
New builds are up certainly, but I know of plenty of places that have homes for sale for close to the same prices as 2017.
Any city with housing prices comparable to 2017 is not going to be one with a thriving economy, lots of good jobs, etc.
The house I live in now sold for approximately half its current value in 2017 with only minor upgrades since then.
This post was edited on 7/31/26 at 1:17 pm
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