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Message
re: Major social unrest is coming
Posted on 4/26/22 at 12:47 pm to Eli Goldfinger
Posted on 4/26/22 at 12:47 pm to Eli Goldfinger
Is this now a "my friend has one, so I should too thread"?
What ever happened to hard work, sacrifice and timing?
What ever happened to hard work, sacrifice and timing?
0
Posted on 4/26/22 at 12:49 pm to Eli Goldfinger
quote:
My mom’s home would probably fetch $250 today.
SO wait, is it a nice house or not? You said there's nothing nice for under $400k
Posted on 4/26/22 at 12:49 pm to Bearcat90
quote:
They voted for this.
/EOT
Posted on 4/26/22 at 12:50 pm to Abraham H Parnassis
quote:
when Zoomers lap Millennials in whatever metric you choose - net worth, happiness, success, etc.
Idk about that, zoomers are frighteningly inept. People have only gotten dumber, lazier, and more disconnected from reality in my experience.
Posted on 4/26/22 at 12:52 pm to LNCHBOX
quote:
SO wait, is it a nice house or not? You said there's nothing nice for under $400k
Rural NE Alabama != Nashville Metro
Posted on 4/26/22 at 12:54 pm to Eli Goldfinger
quote:
Rural NE Alabama != Nashville Metro
Well now we're moving the goal posts even more. You don't think a dual income household with a welder as one of the earners can afford a decent house in bumfrick alabama now?
Posted on 4/26/22 at 12:54 pm to Eli Goldfinger
quote:
Rural NE Alabama != Nashville Metro.
Congratulations, you played yourself.
Posted on 4/26/22 at 12:54 pm to poochie
quote:
Give me any city anywhere in America and I’ll find you a place that isn’t in a sketchy neighborhood for less than $200k within 20-30 miles.
Do Nashville
Posted on 4/26/22 at 12:56 pm to Abraham H Parnassis
quote:
Boo fricking hoo. Times change. Improvise, adapt, overcome. Or, in Millennialspeak - Avocado toast, soy latte, wah Boomer.
Some of you are insufferable. An entire generation being priced out of housing because of shitty government policy is a crisis and OP is spot on.
quote:
It's going to be side-splittingly hilarious when Zoomers lap Millennials in whatever metric you choose - net worth, happiness, success, etc.
Lmao zoomers arent lapping anyone in anything except mental illness and number of genders
Posted on 4/26/22 at 12:58 pm to jrobic4
quote:
Until you account for the fact that that $400,000 house today cost less than $200 15 years ago when I bought my first house
I think this is what is getting lost for some people on here and what I'm also trying to explain. Me/wife and our friends all bought our 1st or "starter homes" in the last 6 years for between $200k-$300k in the ATL area. Yes they are very close to ATL, but not in the city technically as everyone has a job or a spouse who has a job in town, they also arent in a bad area but some of these are VERY basic homes, I'm talking like 1000-1400sq-ft 2/1's and 3/1.5's in some cases that cost $225k-$250k bought between 2016-2020. These homes are all now $375k+. Our friend's who live in Tucker got their 2/1, 1000sq-ft house for $225k in 2020 and it's $375k now.
When yo utake those price increase ALONG with the interest rates now above 5%, it's a gigantic cost increase. Where we live, homes that are $200k-$250k which people would usually call "starter homes" in our areas either dont exist now or in severe need of TLC/updating. So either you buy the $350k-$450k place, or buy a fixer upper $250k place and then put a ton of sweat equity and $$$ into it, which isnt necessarily for everyone.
It's just a ridiculously bad time to buy right now between the ridiculous prices and interest rate increases. Like I said, on what I got a refi on our house in 2020 on a 15 year mortgage I pay $500 LESS a month than if someone bought our house on a 30 yea rmortgager right now, that's crazy. It would be $1,100 less a month I'm paying on a 30 year if i refi'd at that instead vs. a 30 year now on the same house.
Where I live in Smyrna, GA; right now on zillow there is literally ONE single family home in the whole city under $250k on zillow and it's listed as a 2/1, no square footage, looks very very old and is listed as an "investment property/fixer upper" even:
LINK
Adding townhomes to the list nets ZERO results in Smyrna under $250k. You have to go to adding condos to see more units under $250k.
This post was edited on 4/26/22 at 1:11 pm
Posted on 4/26/22 at 1:04 pm to Eli Goldfinger
My wife and I make about 60% more than we made in 2015 when we bought the house we're in now. We would not be able to afford to buy our house from ourselves if we put it on the market today.
Posted on 4/26/22 at 1:06 pm to thunderbird1100
Some of the dummies on this forum either aren’t capable of understanding or refuse to.
I’m looking at you, poochie.
I’m looking at you, poochie.
Posted on 4/26/22 at 1:09 pm to Eli Goldfinger
quote:
Some of the dummies on this forum either aren’t capable of understanding or refuse to.
I’m looking at you, poochie.
And we will keep looking at a guy claiming there are no nice houses within 60 miles of Nashville under $400k and also claims that he would struggle buying a house with $200k combined income.
Posted on 4/26/22 at 1:09 pm to thunderbird1100
quote:
I think this is what is getting lost for some people on here and what I'm also trying to explain. Me/wife and our friends all bought our 1st or "starter homes" in the last 6 years for between $200k-$300k in the ATL area. Yes they are very close to ATL, but not in the city technically as everyone has a job or a spouse who has a job in town, they also arent in a bad area but some of these are VERY basic homes, I'm talking like 1000-1400sq-ft 2/1's and 3/1.5's in some cases that cost $225k-$250k bought between 2016-2020. These homes are all now $375k+. Our friend's who live in Tucker got their 2/1, 1000sq-ft house for $225k in 2020 and it's $375k now.
I am in a very similar situation in Houston; I bought my house in late 2018 and given the prices and interest rates now, it would cost me $528 extra a month for the same property. I could do it but I would not want to.
That does not account for the fact that I need to update the bathrooms and kitchen as the house is 17 years old.
Oh and last year I replaced the roof, the HVAC including furnace, and this year I repainted the exterior.
I'm not bitching as I am very lucky in the timing and was able to buy exactly what I wanted.
The rapid increase in price with corresponding interest rate increases make housing unaffordable and just unattractive for most people.
Posted on 4/26/22 at 1:10 pm to Eli Goldfinger
quote:
My wife is an architect and has several younger architects under her supervision. They’re all making around $55K, yet they all rent and have roommates. Now this is Nashville, so housing costs are REALLY out of control, but it’s everywhere really.
How does a professional like an architect only make 55k. You can make that as a school teacher. My daughter as a RN in Bham makes $80-90k. She bought a house this year by herself at age 29… I think it was about $250k.
Posted on 4/26/22 at 1:12 pm to Eli Goldfinger
Now tell us about the social unrest part.
Posted on 4/26/22 at 1:12 pm to LNCHBOX
quote:
And we will keep looking at a guy claiming there are no nice houses within 60 miles of Nashville under $400k and also claims that he would struggle buying a house with $200k combined income.
Show them to me.
Where are the zillow links?
Posted on 4/26/22 at 1:13 pm to TNTigerman
quote:
Now tell us about the social unrest part.
Folks won’t tolerate being shut out.
It’s a powder keg.
Posted on 4/26/22 at 1:14 pm to DallasTiger11
quote:
shitty government policy
What policy led to huge price increases?
Posted on 4/26/22 at 1:15 pm to GetmorewithLes
quote:
How does a professional like an architect only make 55k. You can make that as a school teacher. My daughter as a RN in Bham makes $80-90k. She bought a house this year by herself at age 29… I think it was about $250k.
One of my best friend's is an architect, it is a very low paying profession out of school typically. I want to say when he got out of getting his masters 10 years ago, he worked for a small firm making between $40k-$50k to start out. The money for architects comes when you run your own firm or get equity in one for the most part, or work for one of the bigger ones with better pay, but it still isn't likely to be what you expect.
My friend probably makes close to double what he made 10 years ago now, but also has some equity he's getting now in his small firm company.
It's not easy to make good money out of school for a architect. $55k not far out of school right now for an architect sounds about right if it's a smaller firm.
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