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Message
re: Millenial homeowners "get real" about their success
Posted on 6/4/19 at 8:40 pm to OweO
Posted on 6/4/19 at 8:40 pm to OweO
quote:
The housing market has skyrocketed and it's not affordable to start off like their parents did. My parents bought a 3 bedroom, 1 bathroom home in a nice neighborhood in 1975 for $8,000.00. $8,000 in 1975 is just under $40,000 today. Yet those homes in that neighborhood sell for about $180k today.
This isn’t exactly apples to apples, then vs now. Yes, the house was cheap but the yearly income was considerably lower. And, my parents purchased a house in 75 as well and the interest rate was double digits as it was the going rate.
It’s always been tough getting that home.
0
Posted on 6/4/19 at 8:40 pm to crispyUGA
35 as well and currently renting a house. I’ve never owned a house but plan on buying a home once my youngest moves onto intermediate school.
Posted on 6/4/19 at 8:42 pm to Muthsera
quote:
prohibit lenders from borrowing to people in the areas that are going to be underwater due to climate change, institute an extremely large (up to 99.5%) inheritance tax on the Jeff Bezoses of the world, and support and nurture affordable cooperatively owned and financed housing. Also, we should get rid of local property taxes, ensure all schools are good,
Feel the Berrrrrrn
Posted on 6/4/19 at 8:43 pm to Sao
quote:
Millenials, pace yourselves. Don't be impatient and whiny. Everyone has paid their dues. You're not special.
This. I emphasize this to my kids, nieces and nephews. Get what you can afford. Put some sweat equity into it. It'll pay off in numerous ways. Plus, it feels damn good to look at something and know you did that shite and it looks good!! Even if it took you 30x's as long as a professional. But you get faster and better, so you're next one goes faster, bigger and better...and PAID FOR.
Posted on 6/4/19 at 8:43 pm to GreatLakesTiger24
quote:
You can get a 150k house anywhere. Feeling comfortable going out and night and sending your kids to school there... that’s another story.
Exactly...this is what right under 150k gets you in PHX
And I was talking about single family homes with a yard...NOT condos, townhomes, mobile homes, duplexes, etc.
Looked up the location on a map...yeah....straight up GHETTO.
Posted on 6/4/19 at 8:45 pm to Muthsera
I didn’t struggle through the depression like my grandparents. I didn’t have to go to WW2 and Korea like my dad.
I lived in shitty apartments, had kids, and finally figured out how to buy a decent, very old home.
In all of my years of credit debt, getting laid off, and struggling to make ends meet, I didn’t blame anyone else.
When the Louisiana economy sucked, I moved. I didn’t blame a generation or political party. I just moved to the jobs.
People are swimming rivers and floating on homemade boats across the Gulf to get here and start from nothing. frick these assholes who are “stuck” in apartments, paying off student loans they knew they couldn’t afford, and floating from job to job.
I lived in shitty apartments, had kids, and finally figured out how to buy a decent, very old home.
In all of my years of credit debt, getting laid off, and struggling to make ends meet, I didn’t blame anyone else.
When the Louisiana economy sucked, I moved. I didn’t blame a generation or political party. I just moved to the jobs.
People are swimming rivers and floating on homemade boats across the Gulf to get here and start from nothing. frick these assholes who are “stuck” in apartments, paying off student loans they knew they couldn’t afford, and floating from job to job.
Posted on 6/4/19 at 8:45 pm to lsunurse
That's AZ ghetto not too bad.
I bet you can fit 17.5 messicans in there.
I bet you can fit 17.5 messicans in there.
Posted on 6/4/19 at 8:46 pm to Muthsera
I make more than my parents and I am a millennial.
I attribute it to a few key principles:
Common sense
Hard work
Extreme ownership
It wasn't always easy. It wasn't always fun. I wanted to frick off a lot and still want to frick off, but fricking off doesn't get the bills paid.
I attribute it to a few key principles:
Common sense
Hard work
Extreme ownership
It wasn't always easy. It wasn't always fun. I wanted to frick off a lot and still want to frick off, but fricking off doesn't get the bills paid.
Posted on 6/4/19 at 8:47 pm to lsunurse
is that a generator on the roof?
Posted on 6/4/19 at 8:49 pm to cable
Gonna take some work stealing that one
Posted on 6/4/19 at 8:52 pm to Hammertime
quote:
If you can't afford to come up with the money for and pay an FHA loan on a $150k house, you don't deserve to have a house
Exactly. It would take two years of ~$185/month to hit the 3% requirement. A single 25 year old with any decent job could have that saved two years after graduation.
Posted on 6/4/19 at 8:52 pm to bad93ex
quote:
35 as well and currently renting a house. I’ve never owned a house
41 and still renting a home and also never owned a house.
Honestly....owning a home never appealed to me in my 20s and early 30s. My husband felt the same way. I just never had that "must buy a house or I have failed in life" feeling that many of my friends my age felt.
Once we started planning for buying a home life happened and we had to decide to use our down payment money towards fertility treatments instead. Knowing it will push back our timeline for buying a house.
And knowing that the area we rent in(and we both love the area) isn't one we can afford to buy in unless we want a total dump that needs complete renovation. So just enjoying the area as much as we can until we move to a home in our budget.
Posted on 6/4/19 at 8:52 pm to lsunurse
Where are you talking about? I’m hoping to move the phoenix area in the next 3-5 years, and right now we are renting a house. So it’s very possible the first house we buy will be there. There are quite a few houses between 150-200k just 20 minutes outside the city. Our budget will be higher than that but still. If you move outside the city, there are cheaper houses to be found.
Posted on 6/4/19 at 8:53 pm to Muthsera
Those quotes are head shakers
Posted on 6/4/19 at 8:54 pm to cable
quote:
is that a generator on the roof?
No that is the A/C. Central air units are usually located on the roofs out here.
Posted on 6/4/19 at 8:54 pm to Muthsera
These are the same people that will make fun of southerners. Have fun not being able to afford somewhere to live, frickfaces.
Posted on 6/4/19 at 9:00 pm to WaydownSouth
quote:
If you move outside the city, there are cheaper houses to be found.
Of course there is. But you better research, research, research.
The "bad areas" are in small pockets out here. It isn't always so clear cut.
quote:
just 20 minutes outside the city
Maybe if you are driving at 4 am or 10 pm. During other hours...that "20 minutes" will be a 45min-1 hour drive with traffic. ESPECIALLY if you are going on the 202 or 101 in the east valley or I-10 in the west valley.
This post was edited on 6/4/19 at 9:01 pm
Posted on 6/4/19 at 9:02 pm to lsunurse
We are doing the same thing here and I’m so glad that I never bought a house because I would have been anchored to an area. I moved my family cross country for a better life and we would have never made the move if we had purchased a home.
Posted on 6/4/19 at 9:03 pm to lsunurse
quote:
The "bad areas" are in small pockets out here. It isn't always so clear cut.
Yeah Phoenix is weird because you can literally have two adjacent neighborhoods (which are almost all walled off in some way) with one being safe and nice and the other being a shithole. Most cities in the South have bad suburbs and good suburbs, but you can’t really just pinpoint a suburb of Phoenix as the bad one.
Mesa, Chandler, and Tempe all have good zones and bad zones.
Posted on 6/4/19 at 9:06 pm to lsunurse
I bet this is when you miss your old hours. The one main reason I stayed working my current job is I work crazy hours so traffic is never an issue especially since it takes me about 35 mins one way to get to work.
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