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Started By
Message
re: The average age of U.S. homebuyers jumps to 56
Posted on 11/4/24 at 5:06 pm to DownshiftAndFloorIt
Posted on 11/4/24 at 5:06 pm to DownshiftAndFloorIt
It seems like people are more interested in bitching and moaning rather than actually looking for deals themselves.
0
Posted on 11/4/24 at 5:08 pm to SuperSaint
Posted on 11/4/24 at 5:11 pm to Stinger_1066
Housing prices are kinda wild
Our 1400 sq ft house in BR is worth 300+K
Good neighborhood but nothing incredible
I’m glad you took advantage 40 years ago though
If I wasn’t negative 4 years old I would’ve done the same
Our 1400 sq ft house in BR is worth 300+K
Good neighborhood but nothing incredible
I’m glad you took advantage 40 years ago though
If I wasn’t negative 4 years old I would’ve done the same
Posted on 11/4/24 at 6:11 pm to Sun God
quote:
Our 1400 sq ft house in BR is worth 300+K
I don't know of anyone actually getting these wild prices right now.
The current "values" were triggered by mass retardation panic buying at sub 3% rates. The rates are near 7 now, and far as I know inventory is on the moonshot.
Posted on 11/4/24 at 6:24 pm to Dire Wolf
quote:
for aging 60s ranch style houses
That are generally better built than the similarly overpriced new construction. As some one who has done extensive construction and remodeling work over the last 20 years, I would take an older house over what is built today, the level of shoddy construction in new homes is horrifying yet the younger buyers today don't have a clue.
Posted on 11/4/24 at 8:08 pm to DownshiftAndFloorIt
Had two sell on both sides of us for ~$240/sq ft since August
Both filled with sorority girls lol
It’s definitely trending down though
Both filled with sorority girls lol
It’s definitely trending down though
This post was edited on 11/4/24 at 8:09 pm
Posted on 11/4/24 at 8:10 pm to Sun God
Well hopefully my anecdotes are lying to me. I'm about to sell, and I told my wife we definitely waited a year too long
Posted on 11/4/24 at 8:34 pm to stout
For most, buying a home isn't a great financial investment. Many/most would be better off putting the downpayment into a S&P ETF and paying rent.
BUT, it provides:
1)More comfort for a family. House living is just a lot better if you have kids.
2)Financially, it works as forced savings. After 15/30 years, you will end up with a couple of hundred grand, which many can't do unless forced by the mortgage company.
BUT, it provides:
1)More comfort for a family. House living is just a lot better if you have kids.
2)Financially, it works as forced savings. After 15/30 years, you will end up with a couple of hundred grand, which many can't do unless forced by the mortgage company.
Posted on 11/4/24 at 9:03 pm to Boss13
quote:
Damn you boomers for injecting all that money into the market 2020-2022 so you could corner the housing market!
Well shite fed housing policy placed low income losers in the old boomer neighborhoods so all the boomers had to move. I’ve said this before. Injecting filth into good neighborhoods via housing policy is just a psyop to require more construction which is good for material and labor lobbies.
Posted on 11/4/24 at 9:10 pm to jizzle6609
quote:
It seems like the mid 20s crowd wants to live where they can't afford.
More like they want to live where they can afford to send their kids to school.
quote:
My first house was 30 years old when I bought it.
Take EBR, where the plurality of this board lives for example. 30+ year old homes are either in failing neighborhoods or also as overpriced as shitty new construction.
Posted on 11/4/24 at 9:31 pm to stout
So much whining about the home buying “crisis”. My kid just bought his first house 2 yrs. after college at age 24. He’s a civil engineer, so he makes decent money but he’s not breaking the bank. And he’s paying a significant portion of his girlfriend’s expenses while she’s in post-grad school.
Posted on 11/4/24 at 9:39 pm to TigrrrDad
quote:
So much whining about the home buying “crisis”. My kid just bought his first house 2 yrs. after college at age 24.
How much of the downpayment did you give him?
Posted on 11/4/24 at 10:14 pm to DownshiftAndFloorIt
quote:
Basically anywhere in Louisiana. Do your own homework. The prices are ridiculous but so are people's expectations. Raising a family of 6 in a 1200 sq ft house used to be normal 1 generation ago.
The problem is that it’s not just homes that have gotten more expensive - it’s food, cars, medical care, schools, every type of insurance, etc. Saving an extra $1-2k from your house payment each month goes a long ways to cover those other expenses.
Posted on 11/4/24 at 10:24 pm to stout
All part of the communist plan
Posted on 11/4/24 at 11:00 pm to stout
Bought when I was 35 (20 yrs ago)
Paid 88k for a small home.
Paid it off in about 7 years.
Can't imagine trying to buy again.
Paid 88k for a small home.
Paid it off in about 7 years.
Can't imagine trying to buy again.
Posted on 11/4/24 at 11:10 pm to stout
first at 33, 2nd and 3rd at 37. paid off 10% of 2&3 in the past 2 years. maybe 1 day ill do 4th. 1 kid to leave them to unless i make foreign babies when i move abroad in 6-8 years.
Posted on 11/5/24 at 4:36 am to stout
I bought my condo when I was 23, on my own (no down payment). Payments were about $500/month for the mortgage (which, by the way, translates to "death note" 
)
)
Posted on 11/5/24 at 4:54 am to Harry Boutte
quote:
4 bds/4 ba, 2,494 sqft is pretty damn big, and it's only $340,000 in a good neighborhood
I saw a 900 sq ft house going for $310;000 near me
Posted on 11/5/24 at 5:06 am to GetCocky11
Posted on 11/5/24 at 7:46 am to stout
Bought my first house in 1991 at age 29. Built a 1600 sq ft rancher on 2.5 acres way out. Sold it a few years later and made money.
Bought my last house (a small farm, in foreclosure) just before COVID. Wife and I have done a lot of work to it. Still have our old house, which is paid off and is a rental. I was 57.
Purchased many homes in between. Did RE flipping before the 2008 crash as a nearly fulltime parttime job. But I'm an outlier.
Tell my boys all the time about one of the paths to building wealth. They listen.
Bought my last house (a small farm, in foreclosure) just before COVID. Wife and I have done a lot of work to it. Still have our old house, which is paid off and is a rental. I was 57.
Purchased many homes in between. Did RE flipping before the 2008 crash as a nearly fulltime parttime job. But I'm an outlier.
Tell my boys all the time about one of the paths to building wealth. They listen.
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