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Message
re: 57% of US households can't afford to buy a $300K home today. The median is around $408K
Posted on 5/14/25 at 9:51 am to stout
Posted on 5/14/25 at 9:51 am to stout
I know you follow this issue closer than most. Do you think that we'll continue to see an upward trend in foreclosures over the next few years?
Any data on who these foreclosures are affecting? Is a lot of it people who bought after the mass home inflation came to be? I'd have to think there are a lot of people who bought between mid 2021 and now that are completely over extended or house poor.
Any data on who these foreclosures are affecting? Is a lot of it people who bought after the mass home inflation came to be? I'd have to think there are a lot of people who bought between mid 2021 and now that are completely over extended or house poor.
1
Posted on 5/14/25 at 9:52 am to stout
quote:
Yet some people here keep preaching "muh appreciation is still 4% this year."
None of that matters
It matters ro the muh 2008 all over again doom and gloom posters
Posted on 5/14/25 at 9:53 am to 4cubbies
quote:
Encouraged how?
Redevelopment tax incentives for individuals. Not just developers is one way.
Posted on 5/14/25 at 9:53 am to RollTide4547
quote:
If you can't afford to purchase a home where you "want" to live, it's time to grow up and live where you can afford.
The problem is many people can't afford to move to places that have the houses "where they can afford."
If I work in the city, I can't afford to move to some rural place where there are no professional jobs. I'm saying this as a homeowner in a city who would like to see other people to also become homeowners.
Posted on 5/14/25 at 9:54 am to SDVTiger
quote:
t matters ro the muh 2008 all over again doom and gloom posters
Link me to where I have said a correction this time around will be the same as 2008 please.
Posted on 5/14/25 at 9:54 am to stout
quote:
Redevelopment tax incentives for individuals. Not just developers is one way.
This probably varies from municipality/zip code to zip code.
Posted on 5/14/25 at 9:54 am to swamptiger99
quote:What a victim mentality you have. Poor poor pitiful you. There are jobs, may not be the job you "want" to do, but there are jobs. Time to grow up.
What a shite take you have
Posted on 5/14/25 at 9:55 am to Lynxrufus2012
True, but it also doesn't help when you have so many with useless 4 year degrees that wouldn't even pay them $50K a year and have student debt more than the cost of the new house.
Why? Because public schools don't teach basic economics and banking fundamentals anymore.
Sure you can go to college for 4 years, live on the governemt dime, and not work any part time jobs to supplement, but sooner or later they will have a bill to pay back.
Why? Because public schools don't teach basic economics and banking fundamentals anymore.
Sure you can go to college for 4 years, live on the governemt dime, and not work any part time jobs to supplement, but sooner or later they will have a bill to pay back.
Posted on 5/14/25 at 9:57 am to riccoar
quote:
Why? Because public schools don't teach basic economics and banking fundamentals anymore.
Anymore? Did they use to teach it?
Posted on 5/14/25 at 9:57 am to 4cubbies
quote:Excuses excuses. People never have the money to do the things they need to do, but they always have the money to do the things they Want to do.
The problem is many people can't afford to move to places that have the houses "where they can afford."
quote:If you can't afford to live there while doing your "professional" job, that job is not all that valuable to you. Time to find an "un" professional job somewhere else.
If I work in the city, I can't afford to move to some rural place where there are no professional jobs.
Posted on 5/14/25 at 9:57 am to RollTide4547
Good luck selling your home. Glad corporations will buy it and lock me out of the American dream forever. The same dream that you grew up and got to live and pushed on us.
Posted on 5/14/25 at 9:59 am to RollTide4547
quote:
People never have the money to do the things they need to do, but they always have the money to do the things they Want to do.
Buying a house isn’t a basic need.
I understand this conflicts with what the real estate industry tells us.
Posted on 5/14/25 at 10:00 am to stout
quote:
Link me to where I have said a correction this time around will be the same as 2008 please.
Did i name you specifically?
Posted on 5/14/25 at 10:01 am to swamptiger99
quote:Don't intend to sell my home. But thanks for your concern.
Good luck selling your home.
quote:Poor poor poor pitiful wittle victim you are.
Glad corporations will buy it and lock me out of the American dream forever.
Posted on 5/14/25 at 10:01 am to Powerman
quote:
Do you think that we'll continue to see an upward trend in foreclosures over the next few years?
Yes I do. All signs are pointing to that and I think it would have already happened if we didn't create programs to prolong the inevitable. VA and HUD have actively fought against natural market cycles and as I said Liz Warrens CFPB has also put pressure on conventional loans to offer forbearance programs and they wanted to extend it even further.
Without all of that gov intervention and CV I am convinced an upward trend in foreclosures would have already happened.
Posted on 5/14/25 at 10:03 am to weagle1999
quote:One can certainly live by renting and not owning. In my life, being able to do what I want to my house, when I want to and how I want to do it is certainly a NEED.
Buying a house isn’t a basic need.
Posted on 5/14/25 at 10:04 am to stout
What’s the best way to find foreclosures before the crowd?
Banking relationships?
Banking relationships?
Posted on 5/14/25 at 10:07 am to roadGator
Foreclosureradar.com
Posted on 5/14/25 at 10:08 am to aubiecat
quote:
A house shouldn't cost $300,000.00 in the first place.
The materials and land cost alone on a $300k house are $200k. Add labor, equipment rental, inspections, etc. and a builder might eek out a 5% profit.
Posted on 5/14/25 at 10:08 am to 4cubbies
quote:
This money is all going to end of life care, not descendants.
This is just stupid. Will nursing homes and memory care facilities get some of it? Of course. You are always going to have Boomers dying of heart attacks, strokes and other things well before that point. Boomers are going to transfer anywhere from 20 to 50 Trillion to their heirs over the next few decades.
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