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re: Monthly mortgage payment based on a median existing home is now at a record $2,322
Posted on 8/24/23 at 10:22 am to tigerfoot
Posted on 8/24/23 at 10:22 am to tigerfoot
quote:To show how wages have not kept up with the rise in home prices you absolute ignorant buffoon.
So starting salary shouldnt matter that much, correct? Wonder why it was mentioned?
2
Posted on 8/24/23 at 10:23 am to lsupride87
quote:
Also here is the argument
“Yes, I had the opportunity to buy a starter home in a nice suburban area. You need to buy an apartment in the ghetto. See, you don’t have it worse”
Their own argument is the definition of the younger generation having it worse.
I literally said I bought a house in a shitty neighborhood and fixed it up, but go off I guess
Posted on 8/24/23 at 10:23 am to PureBlood
[quote]LINK ]
they need to throw Trump, Obama, the Bushes, Clinton, etc in there with him and change it to "we did that"
ETA; I couldn't imagine paying 50%+ of my income on a note. My wife and I are by no means rich but we bought a small house in 2020. Our total payment (tax, loan, insurance) is less than 10% of our take home pay.
they need to throw Trump, Obama, the Bushes, Clinton, etc in there with him and change it to "we did that"
ETA; I couldn't imagine paying 50%+ of my income on a note. My wife and I are by no means rich but we bought a small house in 2020. Our total payment (tax, loan, insurance) is less than 10% of our take home pay.
This post was edited on 8/24/23 at 10:32 am
Posted on 8/24/23 at 10:24 am to Bayou_Tiger_225
quote:Hell no, I have never had a day of suffering in my life. My low earning potential out of college was all on me, and I needed to wait longer for opportunities.
You had a had time, so you have zero empathy for everyone who is having a hard time right now.
Posted on 8/24/23 at 10:25 am to tigerfoot
quote:
Because people kept buying houses they cant afford. If no one woulda overspent, they wouldnt have been so damn expensive.
Black rock can absolutely afford these houses
Posted on 8/24/23 at 10:25 am to Thib-a-doe Tiger
What neighborhood?
Posted on 8/24/23 at 10:26 am to lsupride87
Alls I know is our very first house bought in 1982 in Youngsville was 61k and our mortgage interest rate was around 15%. New construction. No frills. I was working and wife stayed home with the kids. Made around 35k.
Posted on 8/24/23 at 10:26 am to Greace
quote:
What neighborhood?
Wasn't in thibodaux
Posted on 8/24/23 at 10:26 am to Thib-a-doe Tiger
What city?
Posted on 8/24/23 at 10:27 am to tigerfoot
Everything below is a FACT
the overall group of youth today is entering the worse time in American history for building wealth in the traditional “American dream” way of home ownership
There are individual youth today that have it far easier than some individuals that came before them
Both of the above are inarguable unless you want to simply ignore reality and make things up
the overall group of youth today is entering the worse time in American history for building wealth in the traditional “American dream” way of home ownership
There are individual youth today that have it far easier than some individuals that came before them
Both of the above are inarguable unless you want to simply ignore reality and make things up
Posted on 8/24/23 at 10:27 am to Darth_Vader
quote:
And what about retirement? I guess they’re planning on working until lunchtime of the day of their funeral.
This is a crisis on the horizon. Hardly anyone I know puts anything meaningful into retirement, and not all of them live a crazy above their means lifestyle. Things are too expensive right now for a lot of people to put away 15% of their income on top of saving for emergencies, kids colleges, etc…
The line of thinking is always “I’ll start my retirement as soon as I get past X…”
The next thing you know you’re in your 50’s and have paid for everything but your own future. The trend of boomers not retiring to allow the younger generation to take their place is not going away, it’s going to get worse.
Posted on 8/24/23 at 10:27 am to Thib-a-doe Tiger
shite how many square feet was it?
how big was the lot.
was it an 1100 set foot townhome?
how big was the lot.
was it an 1100 set foot townhome?
Posted on 8/24/23 at 10:28 am to Greace
quote:
What city?
Houma
Posted on 8/24/23 at 10:28 am to JohnnyKilroy
quote:
It's a conflation of two different stats to create a new one that I doubt is even close to reality.
Right, the better statistic would be to look at the average price of a home sold and the average income of new buyers.
If you conflate the two stats in the OP you are assuming that all households are in the market for a new house, there are people who are living on minimum wage, these people are obviously never going to be in the market for a home purchase.
Posted on 8/24/23 at 10:28 am to lsupride87
Oh, I thought you posted starting salaries and median home prices.
Posted on 8/24/23 at 10:28 am to tigerfoot
I had that wrong then. I apologize.
But can you not see that the current economic situation is one of the worst in modern American history?
But can you not see that the current economic situation is one of the worst in modern American history?
Posted on 8/24/23 at 10:29 am to stout
quote:
Well, I am not telling you that. I don't want competition.
you just lost a customer. I totally would have bought a ton of… what do you sell?
Posted on 8/24/23 at 10:29 am to tigerfoot
quote:I did
Oh, I thought you posted starting salaries and median home prices.
We are at the worst time ever in terms of home prices outpacing income growth. You seem to want to pretend that isn’t true
Posted on 8/24/23 at 10:29 am to SammyTiger
quote:
shite how many square feet was it?
how big was the lot.
was it an 1100 set foot townhome?
It was an 1100 sqft house with maybe 400 square feet of grass.
Why are young people too good for townhomes now?
Posted on 8/24/23 at 10:29 am to stout
(no message)
This post was edited on 10/18/23 at 5:00 am
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