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Started By
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re: The math for buying a home no longer works, per WSJ
Posted on 12/20/23 at 11:25 pm to GreatLakesTiger24
Posted on 12/20/23 at 11:25 pm to GreatLakesTiger24
They wanted this...they VOTED for this. Trump warn them if Biden was in office prices was gonna go up. They get what they vote for lol!
1
Posted on 12/20/23 at 11:26 pm to meansonny
I don’t know that official numbers will show that because…well…the govt provides the numbers. Something screwy is going on there. Every business I frequent is desperate for workers that wasn’t there before 2020. It’s like a huge portion of the workforce vanished and didn’t return.
I think we have a LOT more unemployed than we’re hearing.
I think we have a LOT more unemployed than we’re hearing.
This post was edited on 12/20/23 at 11:27 pm
Posted on 12/20/23 at 11:30 pm to SquatchDawg
quote:
I think we have a LOT more unemployed than we’re hearing
Unemployment counts Americans who are actively looking for work.
You may not be familiar with the dataset.
Posted on 12/20/23 at 11:32 pm to Duzz
quote:
They wanted this...they VOTED for this. Trump warn them if Biden was in office prices was gonna go up. They get what they vote for lol!
Median price per square foot of a home rose 40% under Trump. It’s up 25% under Biden.
Posted on 12/20/23 at 11:41 pm to slackster
Yeah. Maybe the world production shutting down while the American society decided to play This Old House had something to do with that.
I'd rather avoid the Ds vs Rs debate to be honest.
But to keep things honest, covid fricked up the demand and supply of a lot of things.
I'd rather avoid the Ds vs Rs debate to be honest.
But to keep things honest, covid fricked up the demand and supply of a lot of things.
Posted on 12/20/23 at 11:45 pm to meansonny
quote:
I'd rather avoid the Ds vs Rs debate to be honest.
But to keep things honest, covid fricked up the demand and supply of a lot of things.
I disagree with most of what you have posted in this thread to be honest, but I agree with you on this. Whatever my personal political feelings may be, I think it's safe to say that both political parties have dirty hands with respect to our current state of affairs.
Posted on 12/20/23 at 11:49 pm to meansonny
Understood. But IIRC the Americans that aren’t actively looking for work had risen substantially. Aren’t the unemployment rates n the double digits based on show we calculated them before Clinton was President. Not political…but there was a change during his regime right?
This post was edited on 12/20/23 at 11:53 pm
Posted on 12/21/23 at 12:54 am to meansonny
quote:
Yeah. Maybe the world production shutting down while the American society decided to play This Old House had something to do with that. I'd rather avoid the Ds vs Rs debate to be honest. But to keep things honest, covid fricked up the demand and supply of a lot of things.
Agreed. Just rebuking the idea that home prices going up is some uniquely Biden “problem”.
Posted on 12/21/23 at 1:20 am to Chucktown_Badger
quote:
Sheboygan, WI, a nice, safe city
That state votes Democrat. Only a matter of time before it's completely destroyed.
Posted on 12/21/23 at 1:39 am to JohnnyKilroy
Posted on 12/21/23 at 2:02 am to yaboidarrell
quote:
Drive around any neighborhood in the Austin area and you'll see multiple single-family homes with For Rent signs.
And if nothing else, dear Section 8 will ensure that house gets occupied by…somebody
Posted on 12/21/23 at 2:29 am to SwampAssassin
quote:
Houston
- 41 min LINK
You wouldn't be able to build anything there; I guess you could go visit?
The others probably have issues too restricting development.
Posted on 12/21/23 at 3:55 am to GreatLakesTiger24
Do poor people around here ever stop whining? This is America. Shut up and work harder.
Posted on 12/21/23 at 4:19 am to GreatLakesTiger24
8 years ago we built. It was a hell of a lot cheaper than buying an existing home. We contracted it ourself and did some of the work ourselves too to save a few bucks. This allowed us to be able to afford a 2900 sf living area home which we needed due to having a plethora of kids. All in we were at 240k on a house that last appraised for 380k and some change when we refi'd. This may be a better option out there for some people. It worked out to be the best bang for the buck for us considering our modest income.
This post was edited on 12/21/23 at 4:26 am
Posted on 12/21/23 at 5:11 am to alajones
quote:
I’ve been saying for years that there are an assload of affordable houses, they’re just in neighborhoods where people don’t want to live. Addressing this issue would bring housing prices down also.
Genocide is traditionally frowned upon.
Posted on 12/21/23 at 5:22 am to SwampAssassin
quote:
quote: Link me some 5 acre plots for 100k or less that are within 45 minutes of a large city.
quote:
Houston - 41 min LINK
Posted on 12/21/23 at 5:33 am to Steadyhands
quote:
Clearly the math hasn't worked for a while, this didn't just happen.
Don't buy houses you can't afford and that are over priced, and this current income to cost ratio wouldn't exist.
but for the most part it did just happen. From 2020 to now, house prices went up 20-40% depending on where you live and some places even more. That gap did just appear much wider than it has been ever. It floated through until now because a lot of home buyers also sold their houses for huge gains and were able to put down more on a new house. The downside is it blocks out any new home buyers from the market without a crazy amount of down payment.
What will happen in the next five years will be a 40 year mortgage added to the list. This will drop monthly payments by about 10% but the payment is all a lot of people worry about. We've seen this in new vehicles, the prices have gone up so much that people are borrowing money for 7 years commonly now and sometimes up to ten years now.
Posted on 12/21/23 at 6:08 am to Mushroom1968
quote:what will that save you, $50/month?
Not everyone does, most can just have a regular phone.
we're talking about buying houses, not impoverished people who can't make ends meet.
Posted on 12/21/23 at 6:17 am to SwampAssassin
quote:
According to the Zillow listings all are residential. The Houston one isn’t the best so I’ll substitute it for this one LINK and the Los Angelas one is landlocked so it could be subbed for this one LINK
Come on man, take a look at those listings and get serious.
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