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re: The age of the median home buyer in 07 was born in 1968, in 2024 it is still 1968.
Posted on 5/21/25 at 8:56 am to iwyLSUiwy
Posted on 5/21/25 at 8:56 am to iwyLSUiwy
quote:
Congrats on buying at peak price with high interest rates
Certainly not peak pricing in North LA right now. We decided to build but looking on zillow and talking to our real estate agent, this is the best time to buy in years. Not factoring in the interest rate obviously but odds are they aren't going to drop to the 2-3% in the foreseeable future and 6% isn't the worst interest rate in the world. It's a buyers market up here. But I already have seen the conversation in my head of me telling the realtor "F that I'm not selling my house for that."
classic OT post, the guy has no clue of the terms, conditions, price interest rate, equity involved, not a clue, but he knows what's "better off" for me
0
Posted on 5/21/25 at 8:57 am to RaoulDuke504
One thing I never would have thought I'd be okay with... a lot more families are welcoming multiple generations to live under the same roof than ever before.
Our house has a separate, fully functional living space. If one of our kids was attending college nearby or working and saving, I'd definitely suggest that they stay here with some terms.
I know it's not "cool," but the metric I use is that I drive by my first post-college apartment here in Atlanta area at least a few times per month. I paid $660 per month for it, and split the rent. The literal, actual same unit was $2400 per month when I last checked. I pay my college grads pretty much the same as what as I was making back in 1999. It doesn't make sense. A kid can't even get approved for a lease that big.
Our house has a separate, fully functional living space. If one of our kids was attending college nearby or working and saving, I'd definitely suggest that they stay here with some terms.
I know it's not "cool," but the metric I use is that I drive by my first post-college apartment here in Atlanta area at least a few times per month. I paid $660 per month for it, and split the rent. The literal, actual same unit was $2400 per month when I last checked. I pay my college grads pretty much the same as what as I was making back in 1999. It doesn't make sense. A kid can't even get approved for a lease that big.
Posted on 5/21/25 at 8:57 am to 777Tiger
quote:
false, ridiculously false
Based on what? I’m 53 and lived in Atlanta and Charlotte and can assure you that nobody I knew that was single was in a home unless they were in their 30s with years of successful work under their belt.
My wife and I were in an apartment for a year with dual incomes before we could afford 20% down on our first house in Charlotte - with a 45 min commute each way…..and this was 25 years ago.
This post was edited on 5/21/25 at 9:01 am
Posted on 5/21/25 at 9:01 am to SquatchDawg
quote:
Based on what? I
my personal experience, I bought my first house(a flipper,) while I was still at LSU, didn't have any financial help, I was on my fourth before I got married, I'm a bit older than you, I've seen quite a few market changes but I've seen a lot of people not even pursuit buying a home because they think they can't
Posted on 5/21/25 at 9:02 am to Scruffy
quote:
Americans were born on home plate about 50-60 years ago. At what point will you older chumps start to acknowledge that there is an issue?
They will NEVER acknowledge this. It would go against their core belief that they are special generation of genius hardworkers who earned everything all on their own.
So there is no point at trying to convince them otherwise. Just do the best you can in life, let the boomers go away, and try and do better for the next generations and avoid the greed of the boomer generation.
Posted on 5/21/25 at 9:03 am to 777Tiger
quote:
my personal experience
The problem with when you say something like this is half the shite you post is fabricated
Posted on 5/21/25 at 9:05 am to 777Tiger
quote:
my personal experience, I bought my first house(a flipper,) while I was still at LSU
Everyone’s personal experience is different but do you think it was the norm that houses were so cheap that a college student could afford to buy and flip one?
In college you were considered rich if you could afford enough rent to have your own bedroom…much less own a house. And then in any metro area, everyone I knew …even kids with real jobs….rented and roomated to make ends meet.
Posted on 5/21/25 at 9:05 am to bodask42
I should have said 60-70 years ago.
That generation was handed the world to them on a silver platter and then acts like it was their “hard work”.
You place any generation in that time period and they would have thrived.
It is the equivalent of hitting a home run at birth.
That generation was handed the world to them on a silver platter and then acts like it was their “hard work”.
You place any generation in that time period and they would have thrived.
It is the equivalent of hitting a home run at birth.
Posted on 5/21/25 at 9:09 am to SquatchDawg
quote:
do you think it was the norm that houses were so cheap that a college student could afford to buy and flip one?
absolutely not, the thought of buying a house while in college probably rarely enters the mind of most college kids, I had a strong construction background, had seen it done before, met a few older guys that were doing this while in LSU law school and just went for it, I did get a lot of guidance from my dad, not funding, just advice
Posted on 5/21/25 at 9:11 am to SquatchDawg
quote:
In college you were considered rich if you could afford enough rent to have your own bedroom…much less own a house. And then in any metro area, everyone I knew …even kids with real jobs….rented and roomated to make ends meet.
You still do this, but now groceries are 50% higher in real dollars, a vehicle is double in real dollars, and your tuition is about five times more expensive in real dollars
Posted on 5/21/25 at 9:14 am to SquatchDawg
quote:You used to be able to afford all of that while holding down a job in college.
In college you were considered rich if you could afford enough rent to have your own bedroom…much less own a house. And then in any metro area, everyone I knew …even kids with real jobs….rented and roomated to make ends meet.
Crazy how much times have changed.
Saddle them all with debt.
Posted on 5/21/25 at 11:29 am to Mingo Was His NameO
quote:10 feet from home sets a pickle play. But take it up with GenX. They bought homes btw.
They were born about 10 feet from home plate 60 years ago
GenZ? They're buying homes too.
Every generation has its challenges. But every US gen for the past century has enjoyed tremendous advantages. The fact you're whining about your situation is prima donna behavior. "Woe is me. I was born on 3rd base, but others were way luckier than me. .... I wish I could be Richard Cory."
Posted on 5/21/25 at 11:37 am to NC_Tigah
quote:
The fact you're whining about your situation is prima donna behavior.
That’s not what I’m doing
Posted on 5/21/25 at 11:42 am to Scruffy
quote:or find a damn alternative!
Saddle them all with debt.
If one can't pull a scholarship, there are a LITANY of military options. The GI bill, ROTC, HPSP, etc. Alternately, one can attend Community College for the first two years, live at home, and work part time and save a ton of money in pursuit of a 4-yr degree.
or ...
Alternately one can attend an expensive school. Join a frat/sorority. Party-down. Run up student debt. Get a useless degree with mediocre grades. Then hope for the best.
Posted on 5/21/25 at 11:43 am to Mingo Was His NameO
quote:Pointing out issues that are impacting the younger generations at a significantly different rate than previous generations, while being told to “suck it up” and “stop whining” by the generation that didn’t have to deal with these issues at all is the peak form of “I got mine, frick you guys”.
That’s not what I’m doing
The thing is, I’m perfectly fine. This doesn’t affect me, but it does affect the younger generations, and as this worsens, we will all ultimately suffer.
Posted on 5/21/25 at 11:44 am to SquatchDawg
quote:I bought my first house in a nice area in Birmingham 15 years ago a year out of college. I was married, but my wife was still looking for a job, so it was all on my income, and it wasn't a stretch at all.
Based on what? I’m 53 and lived in Atlanta and Charlotte and can assure you that nobody I knew that was single was in a home unless they were in their 30s with years of successful work under their belt.
Those opportunities are long gone in 2025.
Posted on 5/21/25 at 11:48 am to NC_Tigah
quote:Oh, look, another case of “frick you guys, I got mine”.
or find a damn alternative!
quote:Yea, the previous generations didn’t have to do that, but frick all the younger generations.
If one can't pull a scholarship, there are a LITANY of military options. The GI bill, ROTC, HPSP, etc. Alternately, one can attend Community College for the first two years, live at home, and work part time and save a ton of money in pursuit of a 4-yr degree.
Having the same opportunities as previous generations is just simply unreasonable.
quote:Expensive schools, like LSU and other public institutions?
Alternately one can attend an expensive school. Join a frat/sorority. Party-down. Run up student debt. Get a useless degree with mediocre grades. Then hope for the best.
Also, I notice you didn’t respond to my previous question of, at what age for median first time homebuyers does it officially become a problem? 40? 45? 50?
This post was edited on 5/21/25 at 11:50 am
Posted on 5/21/25 at 11:51 am to Scruffy
quote:If Gen Z were only better negotiators, they could all have 5br/3ba homes for $250k with a 2.75% interest rate like the rest of us had to scratch and claw to get!
Pointing out issues that are impacting the younger generations at a significantly different rate than previous generations, while being told to “suck it up” and “stop whining” by the generation that didn’t have to deal with these issues at all is the peak form of “I got mine, frick you guys”.
The thing is, I’m perfectly fine. This doesn’t affect me, but it does affect the younger generations, and as this worsens, we will all ultimately suffer.
Posted on 5/21/25 at 11:52 am to Scruffy
quote:
Expensive schools, like LSU
full time tuition when I was at LSU was $243 for 12 or more hours, Superintendent Sherman had just been called back to active duty for the Union Army
Posted on 5/21/25 at 11:53 am to TideCPA
quote:
If Gen Z were only better negotiators, they could all have 5br/3ba homes for $250k with a 2.75% interest rate like the rest of us had to scratch and claw to get!
Don’t forget buying coffee and paying for phones.
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