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Started By
Message
re: Interesting question: Is home ownership becoming the new "college degree"?
Posted on 8/17/25 at 7:47 am to wutangfinancial
Posted on 8/17/25 at 7:47 am to wutangfinancial
quote:
Go look at an amortization table for a home priced at $400k financed by a 30 year loan with a 6.3% interest rate and you tell me if it’s a smart decision. You’re paying interest at 10x the rate of principal by year ten if you’re only paying the monthly minimum.
Who’s stupid enough to actually pay the mortgage for 30 years.
There is no law saying you can’t pay it off in 10-15
2
Posted on 8/17/25 at 7:50 am to SlowFlowPro
SFP here to tell you why Blackrock buying the personal housing market is a good thing, and why you’ll love being a rent slave for life!
Posted on 8/17/25 at 7:52 am to dnm3305
quote:
Who’s stupid enough to actually pay the mortgage for 30 years.
The vast (and I mean VAST) majority of people
Posted on 8/17/25 at 7:52 am to Upperdecker
quote:
SFP here to tell you why Blackrock buying the personal housing market is a good thing,
Is it 2023?
Posted on 8/17/25 at 8:12 am to SlowFlowPro
Will you toss out the "standard" new entry home values for those entering the market for the first time? Are we talking a 250K house or a 650K house? I'm currently on my sixth and final house.
Posted on 8/17/25 at 8:13 am to aTmTexas Dillo
quote:
Are we talking a 250K house or a 650K house?
That depends on where you are I reckon
Posted on 8/17/25 at 8:17 am to SlowFlowPro
quote:
That depends on where you are I reckon
Gonna be hard to put 10% down and buy into a 650K house. My advice would be to rent or buy small knowing you will work your way up. My kid and his wife paid 350K for a smallish house in Austin. I suspect that house has appreciated over 150K in the few years they've lived there. Location, location, location and wise choices.
Posted on 8/17/25 at 8:17 am to SlowFlowPro
Who will end up owning the homes if it’s not individual families and small real estate managers? It’ll eventually consolidate into more institutional ownership. You can figure that out.
Also this entire argument is garbage if housing remains an appreciating asset. It’s only a bad investment to take on the debt if housing doesn’t appreciate. Which isn’t even suggested in the OP. There’s a much larger argument for the number of people underwater on car loans or deep in credit card debt. And the obvious student loan debt
Also this entire argument is garbage if housing remains an appreciating asset. It’s only a bad investment to take on the debt if housing doesn’t appreciate. Which isn’t even suggested in the OP. There’s a much larger argument for the number of people underwater on car loans or deep in credit card debt. And the obvious student loan debt
Posted on 8/17/25 at 8:21 am to dnm3305
quote:
Who’s stupid enough to actually pay the mortgage for 30 years.
The same folks who do not utilize their 401k benefit.
It’s staggering how many people do not put up money to get the match from their company. These are the same folks who will complain their neighbor that worked at the state gets a retirement check yet those folks were taking out 10% plus per check over 15 - 20 years to qualify.
Posted on 8/17/25 at 8:22 am to Upperdecker
[quote]underwater on car[/quote
M
This is the problem. Everyone chooses the 100k suv and then they complain they can’t afford a house.
Bitch, you driving it.
M
This is the problem. Everyone chooses the 100k suv and then they complain they can’t afford a house.
Bitch, you driving it.
Posted on 8/17/25 at 8:29 am to jizzle6609
quote:
Everyone chooses the 100k suv and then they complain they can’t afford a house.
Newbies out west and on the East Coast probably want something equivalent to what mom and dad live in. They can't do without a minimum 750K house.
There should be a market for contractors building entry home subdivisions. Sort of a Fred Trump thing.
Posted on 8/17/25 at 8:41 am to Upperdecker
quote:
Also this entire argument is garbage if housing remains an appreciating asset.
Well that's baked into the assumptions in OP. Not that the asset will forever remain depreciating, but that prices are inflated and that appreciation will take a long time to occur, unlike in previous eras.
quote:
. It’s only a bad investment to take on the debt if housing doesn’t appreciate. Which isn’t even suggested in the OP.
That's the backbone of the OP, at least in the short-term. The primary issue is housing being over-inflated. Any correction will have a period of depreciation, not appreciation.
Posted on 8/17/25 at 8:49 am to SlowFlowPro
Nearly 40%
Nasdaq says nearly 40% ‘currently’ paid off mortgages. I don’t think it is indicative of forward reality rho.
Nasdaq says nearly 40% ‘currently’ paid off mortgages. I don’t think it is indicative of forward reality rho.
Posted on 8/17/25 at 8:59 am to SlowFlowPro
quote:
people may get saddled with mortgages the same way they are with SL debt, without the appreciation you'd expect from the "investment".
At some point, the housing inventory boomers leave behind will make a difference in slowing down appreciation rates.
3-4% per year is a reasonable and healthy price appreciation. That's what we should always strive for. Anything else and wages have no way of ever keeping up, leading to the imbalance we see now.
As of now, the market is in an early correction in many parts of the country, and even lowering rates will not make much difference for many buyers. A meaningful recovery would require a combination of falling rates and price adjustments, or rising wages along with lower rates. A rate drop alone is unlikely to cause the market to surge again, but it will delay the much-needed reduction in home values.
Builders nationwide are currently trying to move inventory by dumping it off on hedge funds.
Read this X thread
Loading Twitter/X Embed...
If tweet fails to load, click here. I am about to go to church, but if I wasn't, I could post tons of data I stopped posting here because posters keep telling me I am fearmongering.
Posted on 8/17/25 at 9:03 am to aTmTexas Dillo
quote:
should be a market for contractors building entry home subdivisions
They turn into ghettos instantly.
Rather than section 8 / low income programs there should be tax incentives for married working people raising kids.
The more money given to the trash, the higher the price of entry to escape trash becomes.
Posted on 8/17/25 at 9:48 am to Kingshakabooboo
That’s the key. Like all expenses, only buy what you can afford. I was amazed what I was pre-approved for when I bought my first house. I thought they were nuts. Maybe not idk. The worst I’ve seen most folks do is break even on a home and that isn’t bad when you think about it.
Posted on 8/17/25 at 12:11 pm to HailHailtoMichigan!
quote:
It is stale 1950s style thinking to view home ownership as a necessary component of becoming wealthy
“See. Millennials are just as wealthy as my generation!
…. Oh … you can’t afford a home? Uh…. Home ownership is outdated don’t worry about that”
You literally are a horrendous poster
Posted on 8/17/25 at 12:25 pm to aTmTexas Dillo
quote:
There should be a market for contractors building entry home subdivisions. Sort of a Fred Trump thing.
The wrong people will be living in those though
Posted on 8/17/25 at 3:35 pm to chalmetteowl
quote:
The wrong people will be living in those though
Some thought has to be given to where they build. There is this colony Hills place north of Houston and Conroe. Not sure what is the primary language there. I live in East Texas. It blows my mind the number of entry level and decent houses that are being built now. I don't even know where all these people come from. Maybe these houses are a cut above entry level.
Yeah, they are about 320 to 350. That may be as cheap as one can get a house.
Posted on 8/17/25 at 4:02 pm to SlowFlowPro
quote:
Putting down 20% for a relatively expensive loan on depreciating property that is expensive to maintain sounds like hell on earth, economically
Are you pretending that is the norm or predicting it to be the norm in the future?
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