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Started By
Message
re: If your life depends on the Fed rates, perhaps you should ask mommy for more allowance
Posted on 7/31/25 at 4:18 pm to SquatchDawg
Posted on 7/31/25 at 4:18 pm to SquatchDawg
This is for the people arguing it’s so hard to buy a house now.
ChatGPT for this info:
The US avg cost of an 1100 sqft home in 2001: $95,000
The US avg cost of an 1100 sqft home in 2024: $250,000
The 23 year avg increase of that price: 4.29%
The yearly increase in the avg US income per person for the same timeframe:
3.65%
I don’t have a dog in the fight. But those numbers don’t look crazy.
Maybe the issue is not with rates. Or even housing prices specifically.
It’s odd someone will argue “hey how much was first house though?” Without also asking “what was your salary that year?” as well
Yeah. My first house was $89,900. But my annual salary that year was also like $25,000. At a corporate desk job.
ChatGPT for this info:
The US avg cost of an 1100 sqft home in 2001: $95,000
The US avg cost of an 1100 sqft home in 2024: $250,000
The 23 year avg increase of that price: 4.29%
The yearly increase in the avg US income per person for the same timeframe:
3.65%
I don’t have a dog in the fight. But those numbers don’t look crazy.
Maybe the issue is not with rates. Or even housing prices specifically.
It’s odd someone will argue “hey how much was first house though?” Without also asking “what was your salary that year?” as well
Yeah. My first house was $89,900. But my annual salary that year was also like $25,000. At a corporate desk job.
This post was edited on 7/31/25 at 4:26 pm
2
Posted on 7/31/25 at 4:20 pm to DrrTiger
quote:mine was 7.7 on a 60k home.
first mortgage was at 8%. The current 6.5% would have been a gift.
Posted on 7/31/25 at 4:26 pm to extremetigerfanatic
quote:
Maybe the issue is not with rates. Or even housing prices specifically.
The issue IMO is that we had nil interest rates from 2008 to just a few years ago. All of that money sloshing around had to go somewhere and housing became a target.
There is no easy way to unfrick this problem.
Posted on 7/31/25 at 4:46 pm to SDVTiger
quote:
So cut the 1% nad let us pay less on Gov debt whike raking in billions from Tariffs. Maybe the debt everyone cries about can start to be paid off
If money printing was good, counterfeiting would be not only legal, but encouraged.Posted on 7/31/25 at 4:51 pm to Saint Alfonzo
quote:So would sending everyone a $50,000 check. When did it become the Fed's mandate to ensure people can comfortably pay for a house? This is a policy only Bernie would back. I guess we're Keynesians now?
One friggin point would do an awful lot to boost home sales and the economy in general.
Posted on 7/31/25 at 4:56 pm to extremetigerfanatic
quote:
This is for the people arguing it’s so hard to buy a house now.
ChatGPT for this info:
The US avg cost of an 1100 sqft home in 2001: $95,000
The US avg cost of an 1100 sqft home in 2024: $250,000
The 23 year avg increase of that price: 4.29%
The yearly increase in the avg US income per person for the same timeframe:
3.65%
I don’t have a dog in the fight. But those numbers don’t look crazy.
Maybe the issue is not with rates. Or even housing prices specifically.
Add to what you've pointed out here is that the real estate cycle isn't new and we happen to be at a point in the cycle where it's difficult for new buyers, but do the analysis you just did for 2010-2015 and you'll find that period was one of the best for buying in decades.
Posted on 7/31/25 at 4:57 pm to MMauler
quote:The problem isn't interest rates, it's the nominal prices. While it's fun to say "an entire generation is unable to afford a house" the way to make it affordable will destroy most of the wealth of older generations. This is why "fairness" is a silly metric. And manipulating the money supply for the sake of "affordability" is are recipe for disaster.
So basically, you’re fine without almost an entire generation being unable to afford a house until things level off?
Flooding the money supply with worthless dollars won't make anything more affordable. It has the opposite effect, actually.
quote:
Right now, I just think Powell is either a TDS-infected democrat or politicized RINO who believes that lowering their interest rate will help Trump and the “Trump economy.“
MAGA folks: The Trump economy is awesome and on fire!
Also MAGA folks: We need monetary stmulus to help Trump's economy!
It's beautiful.
This post was edited on 7/31/25 at 4:59 pm
Posted on 7/31/25 at 5:00 pm to Taxing Authority
I wish the rates were 15%, ultra low rates and 90 month car financing drives pricing up sky high becsuse people are buying things they cant really afford.
Posted on 7/31/25 at 5:00 pm to trinidadtiger
my wife's livelihood (mortgage loan processor) basically relies on a low late so you can go frick yourself
Posted on 7/31/25 at 5:00 pm to David_DJS
quote:
Could part of the answer to help this generation that's finding it difficult to buy their first house be to build 1300 sq ft homes with a carport, linoleum flooring, and no bells/whistles?
They won't live in that. 
Posted on 7/31/25 at 5:03 pm to trinidadtiger
quote:
One friggin point is not gonna change your life
Then why not give it?
Posted on 7/31/25 at 5:03 pm to Zendog
quote:
my wife's livelihood (mortgage loan processor) basically relies on a low late so you can go frick yourself
Let's set national economic policy based on how much money the people at Rocket Mortgage will make. Seems like a solid enough plan.
Posted on 7/31/25 at 5:04 pm to Taxing Authority
quote:
They won't live in that.
Yup. A major part of the "unprecedented difficulty to get into the housing market" is the unprecedented demands - size and features - of first time buyers.
Posted on 7/31/25 at 5:08 pm to trinidadtiger
It would help the USA with the national debt
Posted on 7/31/25 at 5:08 pm to David_DJS
quote:
Yup. A major part of the "unprecedented difficulty to get into the housing market" is the unprecedented demands - size and features - of first time buyers.
I bought my first house in 1992. It was 3x my salary as an engineer not long out of college, I had an 8% rate, 1800 square feet, formica countertops, shite cabinets, vinyl flooring in the kitchen and contractor grade appliances.
Posted on 7/31/25 at 5:09 pm to David_DJS
My parents first home was a trailer…and mom worked as a teacher and dad at the State of GA. That was acceptable back then.
Posted on 7/31/25 at 5:11 pm to Sweep Da Leg
quote:
We’ve had historically low rates since 2008 and it’s has fricked us royally.
This was an issue of demographics, not monetary policy.
Posted on 7/31/25 at 5:18 pm to Tantal
quote:
We’ve had historically low rates since 2008 and it’s has fricked us royally.
This was an issue of demographics, not monetary policy.
Most people who are whining about 6.75% interest rates on a 30 year mortgage are not factoring in how many residential homes were snapped up by institutional real estate investors/speculators since the Financial Meltdown of 2008/2009. Last stat I saw was approximately 20% of all residential real estate is still being purchased by real estate investment companies, which drives up the cost. Now factor in 30 million illegals, many who have bought homes over the past 20 years and who are frequently living 2-3 families in a home.
This ^^^^^ shite drives up residential real estate costs.
Posted on 7/31/25 at 5:22 pm to Zendog
quote:
my wife's livelihood (mortgage loan processor) basically relies on a low late so you can go frick yourself
If I were your wife, I’d be more concerned that AI will make that position extinct in the not too distant future.
Posted on 7/31/25 at 5:23 pm to Flats
frick off dipshit
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