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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 5/20/25 at 11:11 am to chalmetteowl
Posted on 5/20/25 at 11:11 am to chalmetteowl
quote:
Netflix, happy hour, and lattes
Netflix is $15/month, an extremely inexpensive “hobby” and the others are so overstated. It’s a middle aged rural idiot talking point
This post was edited on 5/20/25 at 11:12 am
2
Posted on 5/20/25 at 11:12 am to Civildawg
quote:
Well rent isn't $4-500 anymore, it's thousands. I agree the door dash and eating out every meal by most is dumb but the costs of rent and other goods is so much higher now
Are people not making more than ever before?
Seems like normal inflation
This post was edited on 5/20/25 at 11:13 am
Posted on 5/20/25 at 11:12 am to chalmetteowl
quote:
Are people not making more than ever before?
In real dollars, not even close
quote:
Seems like normal inflation
I swear some of you must have rip van winkled the last 5 or 6 years. I refuse to believe any one could be this clueless. Baffling stuff
This post was edited on 5/20/25 at 11:17 am
Posted on 5/20/25 at 11:13 am to Dire Wolf
quote:
This is why you see townhomes and cookie cutters, big home builders' cost per sq foot doesn't change that much by going bigger
, and they can sell a 2000 sq ft house for considerably more than a sub-1200 sq ft house.
None of this is true.
1. They build townhomes because of the high cost of land. You can go vertical and also reduce the size of the lot - saves money and increases the number of units. Increase profit. Townhomes are the new starter home.
2. "big home builders' cost per sq foot doesn't change that much by going bigger" not true. The smaller the home, the higher the cost per sf to build.
a 1000 sf home has a higher cost per sf than a 2200 sf home. Everything depends on the finishes. The guy with a 1000 sf home, likely has a fiberglass insert shower while the guy with a 22oo sf home, likely has a jobbuilt custom tile shower. Thats a $5000 difference just on the shower.
This post was edited on 5/20/25 at 11:14 am
Posted on 5/20/25 at 11:13 am to chalmetteowl
quote:jesus Christ
Are people not making more than ever before?
Relative to income, houses are more expensive than ever before. That takes into account higher wages
Posted on 5/20/25 at 11:16 am to Mingo Was His NameO
quote:
Netflix is $15/month, an extremely inexpensive “hobby” and the others are so overstated. It’s a middle aged rural idiot talking point
Ill have to hold my nose and agree with Mingo here.
The problem isn't Netflix and Starbucks. You're talking a few hundred to in the worst possible case a few thousand per year in indulgences. I have a budget and I track all of that shite. It isnt much even if you allow your wife to go buck wild.
The problem is the absurd cost of houses, health insurance, vehicles and to a lesser extent general insurance. Those costs vastly overshadow everything else.
Posted on 5/20/25 at 11:18 am to Chicken
quote:this isn't true fwiw. Multiple studies out there showing Gen Z are saving more/earlier than other generations.
From what I can tell, young people these days aren't saving enough
Also there's clear nuance here when you consider wages growth Vs cost of living increase.
Posted on 5/20/25 at 11:18 am to lsupride87
quote:sure...but that doesn't mean that people are cutting back in other areas of spending to save money.
Would the cost of goods being at an all time high compared to income be an important stat?
cooking your own food versus eating out or doordashing
buy cheaper clothing
drink less (and eat less)
pay off credit card every month
look for homes in the burbs versus in the city
etc
Look, I am sure everyone's situation is different, but it seems likely that many people live outside of their means to some extent and it is hard to get out of those habits.
Posted on 5/20/25 at 11:19 am to Chicken
quote:
sure...but that doesn't mean that people are cutting back in other areas of spending to save money. cooking your own food versus eating out or doordashing buy cheaper clothing drink less (and eat less) pay off credit card every month look for homes in the burbs versus in the city etc Look, I am sure everyone's situation is different, but it seems likely that many people live outside of their means to some extent and it is hard to get out of those habits.
“frick the data, this is how I feel”
Posted on 5/20/25 at 11:23 am to castorinho
quote:link?
Multiple studies out there showing Gen Z are saving more/earlier than other generations.
Posted on 5/20/25 at 11:24 am to Supermoto Tiger
quote:
The smaller the home, the higher the cost per sf to build.
a 1000 sf home has a higher cost per sf than a 2200 sf home
i didn't word it right, but that is my point. The smaller the house, the less profit and demand is it for the builder.
quote:
The guy with a 1000 sf home, likely has a fiberglass insert shower while the guy with a 22oo sf home, likely has a jobbuilt custom tile shower. Thats a $5000 difference just on the shower.
DR horton and the like build countless 2000+ sq ft houses and they aren't throwing custom showers in them unless a buyer asks before building
Posted on 5/20/25 at 11:24 am to Mingo Was His NameO
quote:where is the data on spending habits?
“frick the data, this is how I feel”
Posted on 5/20/25 at 11:26 am to Chicken
quote:
where is the data on spending habits?
You seem pretty confident in your position, should be easy for you to provide all the data of young people over spending on consumerism which is what is causing the rise in median home buying age.
Posted on 5/20/25 at 11:28 am to Chicken
Posted on 5/20/25 at 11:35 am to Mingo Was His NameO
quote:Podcast: Why young adults can’t stop spending
You seem pretty confident in your position, should be easy for you to provide all the data of young people over spending on consumerism which is what is causing the rise in median home buying age.
Posted on 5/20/25 at 11:37 am to Chicken
You don't really need much data. All you have to do is look around and it's pretty easy to see that the cost of homes, groceries, insurance, utilities, etc. has outpaced wages by quite a lot.
I've doubled the rent on some of my rental properties in just over a decade because that's what the market is.
Paying almost double for health insurance and home/auto insurance.
We all know what has happened at the grocery store, utilities, etc.
The national average wage has has doubled since 2001. (24 years)
The national average mortgage payment has doubled just since 2020 (5 years)
I've doubled the rent on some of my rental properties in just over a decade because that's what the market is.
Paying almost double for health insurance and home/auto insurance.
We all know what has happened at the grocery store, utilities, etc.
The national average wage has has doubled since 2001. (24 years)
The national average mortgage payment has doubled just since 2020 (5 years)
Posted on 5/20/25 at 11:37 am to Chicken
quote:
Journalist Claire Lampen joins host Krys Boyd to discuss why Gen Z is taking on second jobs and side hustles to pay for meals out, elaborate vacations and other treats that might more prudently be skipped.
The OT: where you should just take a second job, never eat out, and move to the middle of nowhere to buy a 1000 sq ft house
Posted on 5/20/25 at 11:40 am to Tyga Woods
quote:
Paying almost double for health insurance and home/auto insurance.
The same posters will tell you their own home insurance went up 25% this year and then blame Netflix for 20 something’s not being able to afford to buy a home. Insane
Posted on 5/20/25 at 11:40 am to RaoulDuke504
The resident boomers of this board will be in to say none of this is their fault, it's all millennials and gen z fault and they've never done anything wrong.
Posted on 5/20/25 at 11:44 am to RaoulDuke504
quote:
The lost their social skills because they were locked away for covid
The social effects of covid haven’t been seen yet and quite frankly, social media (Snapchat, Instagram, etc) have decimated social skills and are by far the #1 reason people are growing up socially retarded.
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