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Started By
Message
re: interest rates on home mortgages wont fall anytime soon
Posted on 7/25/23 at 4:57 pm to Sun God
Posted on 7/25/23 at 4:57 pm to Sun God
quote:
What kind of vehicle?
I have to correct myself. It was indeed much less for a new car. We just didn't buy them, so I guess it was my bias.
We bought used cars for the 80s and 90s. It wasn't until the 00s that I bought a new car.
My bias was showing there. After having checked, it was like $7-8k for a new car.
2
Posted on 7/25/23 at 4:59 pm to Junky
quote:
They are not. Wages are always behind. Which is what everyone is banging into this thread.
Yep
Boomers voted 5.15 an hour minimum wage back in the day for themselves and only begrudgingly raised it 60 cents for millenials in like 2009 when they got scared by occupy wall street
Posted on 7/25/23 at 4:59 pm to Ricardo
No worries, was making sure I wasn’t going crazy 
Posted on 7/25/23 at 4:59 pm to Jcorye1
quote:
This is completely ignoring outside factors like the price of housing.
agreed.
dont forget dual income now.
Posted on 7/25/23 at 5:02 pm to Ricardo
quote:
We bought used cars for the 80s and 90s. It wasn't until the 00s that I bought a new car.
You could get away with buying used back then when all cars were made in America with American muscle and big bulletproof engines and no wussy crumple zones. They’d last forever back then
Then boomers voted to make muscle cars illegal and to let in all the foreign cars so all we have to drive now is Chinese go karts with seatbelt alarms
Posted on 7/25/23 at 5:03 pm to doubleb
quote:In todays dollars that is 117K. With a 12% interest rate that puts the mortgage payment at $1200.
My starter home was $36,600.00.
“But you’re the blessed one”
Posted on 7/25/23 at 5:03 pm to el Gaucho
My EV tried to get me to transition to female the other day
I was like “Too late pal”
I was like “Too late pal”
This post was edited on 7/25/23 at 5:04 pm
Posted on 7/25/23 at 5:04 pm to jizzle6609
quote:That’s out of necessity. Because shite is more expensive.
dont forget dual income now.
I promise you my wife isn’t working because she wants to
Posted on 7/25/23 at 5:07 pm to Sun God
How are boomers going to get around when they vote to make evs that millenials can’t afford the only cars that are legal on the road? Who’s gonna drive yalls Uber to the casino so you can spend your social security check?
Posted on 7/25/23 at 5:07 pm to Junky
Salaries are much higher now than they were in 1976.
There were inflation rates were in the late 70s and early 80s. What you are seeing now is nothing compared to what we saw under Jimmy Carter.
There were inflation rates were in the late 70s and early 80s. What you are seeing now is nothing compared to what we saw under Jimmy Carter.
Posted on 7/25/23 at 5:10 pm to doubleb
I’m confused on how you think this is a debatable topic. This isn’t about your feelings. The financial figures show you are straight up wrong.
Posted on 7/25/23 at 5:13 pm to el Gaucho
You are delusional. My first house, about 1400 square feet cost roughly $65000 and I had a 12.75% interest rate. Rates stayed high for at least ten years and housing values did not change much because few could afford to buy with those rates. The house payment took up about 50% of my net income.
Posted on 7/25/23 at 5:13 pm to doubleb
quote:
Salaries are much higher now than they were in 1976.
Salaries have increased at a much slower pace than home prices and car prices. In addition to this homes are bigger and more luxurious, cars have more technology, etc. Some things are cheaper today (inflation adjusted) such as appliances and electronics. There are also expenses today that didn’t exist then..such as internet and cellular service. Overall, the average person is worse off today than then in terms of purchasing power, but likely lives a more luxurious life.
Posted on 7/25/23 at 5:17 pm to el Gaucho
You have to be a troll. Go away.
Posted on 7/25/23 at 5:19 pm to dinosaur
At this point I think the actual trolls are the potatoes who don’t know gaucho’s shtick
ETA: leaving it
ETA: leaving it
This post was edited on 7/25/23 at 5:20 pm
Posted on 7/25/23 at 5:31 pm to el Gaucho
Ah...
This post was edited on 7/25/23 at 5:32 pm
Posted on 7/25/23 at 5:35 pm to doubleb
Seems like that’s a dumb exercise when there’s constant buying pressure in most markets
Posted on 7/25/23 at 6:28 pm to Sao
quote:
Gen X dealt with these types of rates as a norm in the 90's and 00's, including after 9/11. We survived.
Do we just disregard housing price inflation vs wage inflation in those years?
Posted on 7/25/23 at 6:43 pm to Grad92
I got news for you. If the interest rates tick down in 2024 for the election, housing prices will make another big jump.
Posted on 7/25/23 at 7:17 pm to kywildcatfanone
quote:
Just quoting this for the sheer stupidity of it.
LOL. Jokes on you. You’re the one too stupid to recognize satire and sarcasm. The joke is currently way over your head.
Gaucho has been running this internet schtick for years. Just within this thread it’s not very hard to figure out. Jeez… it’s a comedy act.
He’s one of the few entertaining posters on the site these days.
This post was edited on 7/25/23 at 7:18 pm
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