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Message
re: Major social unrest is coming
Posted on 4/26/22 at 1:16 pm to Eli Goldfinger
Posted on 4/26/22 at 1:16 pm to Eli Goldfinger
quote:
Some of the dummies on this forum either aren’t capable of understanding or refuse to.
There are tons of boomers on here that think they are smart because they have benefitted immensely from the Fed ponzi
2
Posted on 4/26/22 at 1:17 pm to Eli Goldfinger
quote:
Where are the zillow links?
For under $400k within 60 miles of Nashville? Too many to list
Here's one LINK
Posted on 4/26/22 at 1:17 pm to Bearcat90
quote:
Honest question here:
If some savvy businessman started building the TINY homes that were mass built post WW2, would young people buy them?
I haven't seen any new construction of 2 BR homes in, well, forever. Was born way after that. All I ever see is the 2-3-4 story condos and personally I'd never want to live on top or below someone else.
This is how I’ve answered whiny millennials in several of the dozens of threads like this one that have populated this board recently.
My daughter just bought a brand new $475K “starter home” in a great/new development in a suburb of Phoenix. Her zip is one that’s targeted by Blackrock - I believe 50% of home sales have been to investors the last 24 months. She’s single, has a finance degree from ASU and just turned 27. So she’s proof that young professionals can buy homes today if they want to badly enough.
Moreoever, her home is nothing like the “starter home” her mother and I bought in 1988 in the same suburb. We paid $90K, our mortgage rate was 8.50% and we thought it was a steal given rates were as high as 13.5% a couple years prior.
If you built her home to the exact specs and finishes our starter home was built with, you’d shave $100K off the price, easily. Probably more like $150K. It’s not like granite didn’t exist in 1988, or that laminate is not available in 2022.
Cookie cutter homes with bottom of the line appliances, laminate countertops, linoleum floors, shitty shower stalls, cheapest fixtures money can buy, no home theater or even wiring for surround sound, unfinished garages, good old dirt for landscaping, no window treatments, a doorbell that isn’t smart, etc., etc - if millennials really do want it like boomers had it, some entrepreneurial millennials will make fortunes building these homes on the outer edges of suburbia.
This post was edited on 4/26/22 at 1:20 pm
Posted on 4/26/22 at 1:18 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.
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.
Boomers - "save up until you can afford a house" while having the government artificially propping up their market.
millenials mostly in their 30s after years of saving just now expecting to be able to afford that house can no longer afford houses. boomers benefited from government propping up their market, inflation etc to the detriment millenials.
shame that boomers were so entitled and whiny that they had to have the government prop up their market, how dare young folks suggest its partially due to ramifications of boomer actions? they sky scream if the gov does anything that benefits anyone but themselves, and ignore the gov intervention significantly benefitted their situation at the cost of ours. straight out of the liberal playbook blame others for what they are guilty of.
Posted on 4/26/22 at 1:18 pm to thunderbird1100
Yeah…entry level architects and engineers don’t make what most people assume.
It’s the same for most licensed professions where experience is a prerequisite.
It’s the same for most licensed professions where experience is a prerequisite.
Posted on 4/26/22 at 1:18 pm to LNCHBOX
Dude, you can’t expect first time home buyers to only live in 1250 square feet with no pool or outdoor kitchen.
Come on man.
Come on man.
Posted on 4/26/22 at 1:20 pm to Huey Lewis
quote:
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.
boomers - why should you be entitled to afford the same thing now you were able to years ago while making less?
Posted on 4/26/22 at 1:23 pm to AMS
quote:
boomers - why should you be entitled to afford the same thing now you were able to years ago while making less?
Posted on 4/26/22 at 1:25 pm to roadGator
quote:
What policy led to huge price increases?
Choose your fighter:
- The Federal Reserve’s interest rate and mortgage market manipulation
- Bad real estate tax policy
- Foreign (aka Chinese) buying up the West Coast - see Vancouver for the worst offender
- Ridiculous NIMBY regulation and building codes hampering supply
- Moronic covid policy in blue states which has led to unprecedented migration putting strain on previously reasonable local markets
Posted on 4/26/22 at 1:25 pm to Chicken
quote:
I bought my first home in summer of 1998...interest rate was pushing 7%. It was also a cheap cookie cutter house in the burbs, away from the action.
Reading some of these posts....I'm certain that I got incredibly lucky on our first house.
Posted on 4/26/22 at 1:27 pm to LNCHBOX
quote:
For under $400k within 60 miles of Nashville? Too many to list
If they are okay swinging a hammer or replacing some outdated fixtures.....they could get a lot in most southern towns. Especially if they are okay with being "near" some sketchy neighborhoods.
But they'll have to be kind of ballsy about being an earlier agent of gentrification, rather than following the trend.
Posted on 4/26/22 at 1:28 pm to DallasTiger11
quote:
Bad real estate tax policy
More about this please.
I’m with you on china. They are evil but it’s racist if you stop them according to dems.
Interest rates were too low for too long.
No politician of any stripe wants to either raise rates/taxes or lower spending because being fiscally responsible means you are unelectable.
This is the fault of voters IMO. Almost all voters.
Posted on 4/26/22 at 1:30 pm to Abraham H Parnassis
quote:
I'm completely serious. It's easily the weakest, whiniest, laziest, most spoiled generation this country has ever seen.
Prove me wrong.
This is stupid. There's no way to prove you "wrong" just like there's no way you can prove what you said is true. You can't use a handful of people to label an entire generation. That's what progressives do by the way.
Posted on 4/26/22 at 1:31 pm to roadGator
Biggest factor more than anything is new building supply has never caught up to demand since the crash in 2008. And what builders have built since then is either fairly expensive single family homes in a lot of places or townhomes to get bang for their buck. In fact townhome communities seems to be EXTREMELY popular now in terms of newer communities I've seen around ATL area. We've lived in one since 2017, it's been fun but definitely want a single family home next and the advantages that come with that.
Here's an example of median new home price sales and how it's skyrocketed recently:LINK
I chose 2000-2021, and just 2 years ago the median was about $310k it's $437k as of March 2022 now. After the crash you median price of NEW home sales was between $200k-$250k for years. To think we've gone from $200-$250k of the median new home sale in the early 2010s to $437k just 10 years later is quite certifiably insane.
Here's an example of median new home price sales and how it's skyrocketed recently:LINK
I chose 2000-2021, and just 2 years ago the median was about $310k it's $437k as of March 2022 now. After the crash you median price of NEW home sales was between $200k-$250k for years. To think we've gone from $200-$250k of the median new home sale in the early 2010s to $437k just 10 years later is quite certifiably insane.
This post was edited on 4/26/22 at 1:38 pm
Posted on 4/26/22 at 1:33 pm to YumYum Sauce
Lol thinking a $400,000 house in a desirable metro area is something special
That will get you a 200 foot studio in Compton out here in LA.
$300,000 is entry level pricing for starter homes in shitty suburbs of sun belt cities. I know this because I work in the SFR space.
That will get you a 200 foot studio in Compton out here in LA.
$300,000 is entry level pricing for starter homes in shitty suburbs of sun belt cities. I know this because I work in the SFR space.
Posted on 4/26/22 at 1:34 pm to Pookers
quote:If it is millennials we are talking about they should have a 200 mile one way distance to work maybe overnight in a van a couple of nights per week.
That's great, should people have to drive 50 - 60 miles one way to get an affordable house?
of course we need a heavy tax on such a luxury. Their choice for president Joe DMBFCK Biden will see to it they get what they deserve.
Posted on 4/26/22 at 1:35 pm to dewster
quote:
But they'll have to be kind of ballsy about being an earlier agent of gentrification, rather than following the trend.
Some metro areas have enacted policies to dissuade urban pioneers.
Posted on 4/26/22 at 1:35 pm to DallasTiger11
quote:dipshit millennials voted in Joe DMBFCK Biden - lay down with your choice, ya PUKES
There are tons of boomers on here that think they are smart because they have benefitted immensely from the Fed ponzi
Posted on 4/26/22 at 1:38 pm to roadGator
quote:
This is the fault of voters IMO. Almost all voters.
Totally. As much as we bitch about everything it’s us that keep sending these same assholes into office.
I hate paying taxes more than just about anyone but property taxes need to adjust with market value. I know people in California who are paying basically nothing and none of them can or will ever sell.
On the federal side they could pass a law right now to end this blackrock shite immediately by making real estate investment less attractive as the amount of properties you hoard goes up. This would probably have 80% support. I don’t know anyone who thinks it’s a good idea if we live in a society full of renters who are slaves to monster asset managers.
Posted on 4/26/22 at 1:40 pm to Eli Goldfinger
quote:
Eli Goldfinger
No comment on the linked listing?
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