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re: "Starter home" will cost >$1 million in 237 cities.
Posted on 7/25/24 at 3:57 pm to MC5601
Posted on 7/25/24 at 3:57 pm to MC5601
quote:
In Dallas it's about $500k for a starter home in a safe area within 30 minute commute of downtown. I make a little over 6 figures and cannot afford to buy a home here. It's very disheartening
What confuses me is that if you drive through working class neighborhoods the homes are for sale in the 300 to 400k range. Are working class people buying these? Driving the streets (of say The Colony) don’t give me h the impression that the 70s tract housing is being gentrified by yuppies. Still looks like there are people driving work trucks living in these areas. Idk, it confuses me.
1
Posted on 7/25/24 at 3:59 pm to MC5601
quote:
In Dallas it's about $500k for a starter home in a safe area within 30 minute commute of downtown. I make a little over 6 figures and cannot afford to buy a home here. It's very disheartening
$500k is about bare minimum inside 635 and out of the hood. I’m in a nicer Fort Worth suburb and it sucks that my peers can no longer afford to be my neighbors. We just had an average couple our age move in next door, but they obviously used mommy and daddy money.
Posted on 7/25/24 at 4:01 pm to BabyTac
quote:
You’re not entitled to live in these cities. Live somewhere you can afford.
It's a major problem that we have too many people in competition for housing in the top 15-20 metros.
Yeah, I get it, that's where most of the jobs are, but unless you are in a very specialized field it's not like they don't exist elsewhere in most cases.
Posted on 7/25/24 at 4:08 pm to fallguy_1978
I think it's somewhat interesting that there isn't more of a "why are we so focused on availing ourselves of something desirable instead of building something desirable" mindset. I know that's something of a boomer throwaway line, but I do think it shows a change in approach.
Sure, I want breweries and cafes, but what I care most about are like minded, good, wholesome families who value community and are looking for the same thing. On smaller levels you saw this with COVID, entire neighborhoods turned over with people looking for the same stuff, usually with good results for the newcomers. We were among them. It was great - we all moved at the same time looking for the same things.
But, not to be a broken record, but if you're DINKs, there is just no way that option is going to be as appealing. You're going to want external things to entertain you and perhaps more so than families might demand. Honestly this comes down to a "make your own fun" thing I guess, and I think people delaying or declining to start families takes that rather huge option off the table.
Sure, I want breweries and cafes, but what I care most about are like minded, good, wholesome families who value community and are looking for the same thing. On smaller levels you saw this with COVID, entire neighborhoods turned over with people looking for the same stuff, usually with good results for the newcomers. We were among them. It was great - we all moved at the same time looking for the same things.
But, not to be a broken record, but if you're DINKs, there is just no way that option is going to be as appealing. You're going to want external things to entertain you and perhaps more so than families might demand. Honestly this comes down to a "make your own fun" thing I guess, and I think people delaying or declining to start families takes that rather huge option off the table.
Posted on 7/25/24 at 4:08 pm to GeauxTigers123
quote:
What confuses me is that if you drive through working class neighborhoods the homes are for sale in the 300 to 400k range. Are working class people buying these? Driving the streets (of say The Colony) don’t give me h the impression that the 70s tract housing is being gentrified by yuppies
They were $150k 12 years ago.
Posted on 7/25/24 at 4:11 pm to Slippy
But the boomer thread said we just needed to work hard like them!
Posted on 7/25/24 at 4:17 pm to thegreatboudini
quote:
But as a single dude in Dallas, do you need to buy a 3/2 starter home?
My suggestion is to go further out for that 3/2 or buy a 2/1 condo.
I'm 45min from downtown Austin so I get it, but I think you can reset expectations and it's not that bad.
The problem with going further out than 30 mins is no dating prospects. I am single and there are very few options in the distant suburbs. I could buy a house for about $400k but that would require commuting about an hour to work every day and significantly limiting my chances at finding a partner
Posted on 7/25/24 at 4:17 pm to Delacroix22
Yep you suck em too boy
Posted on 7/25/24 at 4:26 pm to MC5601
quote:
The problem with going further out than 30 mins is no dating prospects. I am single and there are very few options in the distant suburbs
What? Have you been to said suburbs? Sure it isn’t like uptown, but there is no shortage. I don’t have to worry about that but I also haven’t been to Dallas in probably a year. We go to FW a lot and it’s about the same distance(25 mins).
Posted on 7/25/24 at 4:29 pm to Limitlesstigers
quote:
Anytime someone complains about housing costs, without fail, there will always be a boomer that tells them to go live in a BFE town with zero job prospects.
71% of those homes are in California, New York or New Jersey. The rest of the country is BFE?
I've never seen a whining generation as much as the current one. You know what my parents did when they were younger? First lived in a trailer on some property, then an apartment, and then a house after 9 years of marriage.
You frickers and wanting everything handed to you before you put in zero effort yourself to make shite happen.
Posted on 7/25/24 at 4:31 pm to lsufball19
quote:Subtle “Somebody’s having sex” brag noted there Romeo.
In my situation specifically, we have since added 2 children to our family since we purchased
Posted on 7/25/24 at 4:52 pm to Limitlesstigers
It is a legitimately bad housing market. A big part of it is that people aren’t selling when they move because their locked in lower rates incentivize them to rent instead. This means there are fewer available houses on the market. The only option is to build our way out of it, which we will eventually do. This podcast does a good job of explaining it. LINK
With that said, there is a large degree of regional variation.
With that said, there is a large degree of regional variation.
Posted on 7/25/24 at 5:22 pm to MC5601
quote:
I am single and there are very few options in the distant suburbs.
Why do single people want to run out and buy a house? My wife and I didn’t get our first house until about a year after we were married and had dual income. I don’t think I had any friends that owned a home while young and single either….most lived in apartments or condos with roommates…..which was very conducive to meeting people too BTW.
If I was single there’s no way I’d want to live in a house in the suburbs by myself and have to deal with all the headaches of home ownership.
This post was edited on 7/25/24 at 5:54 pm
Posted on 7/25/24 at 5:33 pm to Slippy
Thanks boomers. Worst generation yet.
Posted on 7/25/24 at 5:39 pm to Leon Spinks
In North Alabama where I live you can find plenty of houses that are 2500-3000 sq feet and you will pay somewhere around 225k to 250k. Y'all are crazy paying that kinda prices for a house.
Posted on 7/25/24 at 5:40 pm to lynxcat
If “everyone started to move to where they can afford”, you realized those places would no longer be affordable right?
Posted on 7/25/24 at 5:54 pm to Slippy
The average million dollar home in California is already around the same size as a double wide, so just buy one out of state and set up shop anywhere you want because you probably won’t get evicted, just tell them Gavin sent you.
Posted on 7/25/24 at 5:57 pm to SquatchDawg
quote:
Why do single people want to run out and buy a house?
I bought single. Downtown condo first then house. Got condo new at auction, lived there two years and made $30k after sale. Got house because I was a small town kid and wanted to have more cars and things plus a private pool and hot tub for the ladies. Now I live in a great property paid off when if we bought today, we could barely afford.
Posted on 7/25/24 at 6:00 pm to Chucktown_Badger
quote:
No. Just telling you entitled millennials you don't just get what you want for whatever you want to pay for it.
We aren't entitled. The gap between pay and housing prices aren't the same now as they were for the older generations. Why boomers refuse to acknowledge this is beyond me. I suspect it's because if they did, then they couldn't shite on everyone younger than them, which means they'd literally have nothing to feel good about
quote:
Consider this a life lesson your parents should've taught you a long time ago.
You mean our boomer parents who raised us and now bitch about how poorly we were raised?
Posted on 7/25/24 at 6:07 pm to Chucktown_Badger
quote:
No. Just telling you entitled millennials you don't just get what you want for whatever you want to pay for it. Consider this a life lesson your parents should've taught you a long time ago.
I have less than 5 years left on my mortgage.
This post was edited on 7/25/24 at 6:35 pm
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