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re: So all I need to do to afford a $750,000 house
Posted on 3/17/25 at 10:42 am to goldennugget
Posted on 3/17/25 at 10:42 am to goldennugget
quote:
Also can you point me in the direction of those $500 beater cars that are always being talked about while you're at it?
Obama killed those with cash for clunkers. It doesn't get pointed out enough but that socialist program took cars away from the poor people socialism is supposed to help.
1
Posted on 3/17/25 at 10:43 am to stout
Troof
Posted on 3/17/25 at 10:44 am to goldennugget
quote:
So all I need to do to afford a $750,000 house
If you can't afford a $750,000 house, why do you want a $750,000 house?
Posted on 3/17/25 at 10:45 am to riccoar
quote:
This generation thinks it's unfair people have more money than they do. They have been brainwashed that they are poor because Elon is rich.
I will say it would be tough to find a decent affordable home in a safe neighborhood if your career requires you to live in a large city. Used to be middle/working class neighborhoods with reasonable homes and good schools. Now those areas are full of undesirable demographics and the suburbs are expensive
The only place you can find affordable homes in good areas are small and medium sized cities or towns in states with lower cost of living
Posted on 3/17/25 at 10:46 am to MisslePig
In 1979 the median home was 1645 sq ft and cost 62900 while median income was 16530.
In 2024 the median home was 2200 sq ft and cost 419200 while median income was 77540.
The cost per sq ft in 1979 was 38.24. The cost in 2024 is 190.55.
The median home in 2024 is 33.7% larger than the median home in 1979. So to compare apples to apples, we'd have to compare the same size houses. A 1645 sq ft home at 190.55 would be 313454.
In 1979 the payment at 11.2% interest would be 608.54. That 608.54 would be 44.18% of the monthly income of 1377.50(16530/12).
In 2024 the 1645 sq ft home would have a payment of 2022.65 (based on a sq price of 190.55 and interest rate of 6.7%). The 2022.65 payment would be 31.3% of the monthly median income of 6461.67 (77540/12).
In 2024 the median home was 2200 sq ft and cost 419200 while median income was 77540.
The cost per sq ft in 1979 was 38.24. The cost in 2024 is 190.55.
The median home in 2024 is 33.7% larger than the median home in 1979. So to compare apples to apples, we'd have to compare the same size houses. A 1645 sq ft home at 190.55 would be 313454.
In 1979 the payment at 11.2% interest would be 608.54. That 608.54 would be 44.18% of the monthly income of 1377.50(16530/12).
In 2024 the 1645 sq ft home would have a payment of 2022.65 (based on a sq price of 190.55 and interest rate of 6.7%). The 2022.65 payment would be 31.3% of the monthly median income of 6461.67 (77540/12).
Posted on 3/17/25 at 10:47 am to goldennugget
quote:
But what if I don't subscribe to Netflix, don't drink coffee, or eat avocado toast?
You’re doing something else wrong!
Posted on 3/17/25 at 11:05 am to deltaland
quote:If you can't find what you want/need where you are currently at, you have 2 choices. 1) Do without what you want/need. 2) Look for what you want/need elsewhere.
deltaland
Posted on 3/17/25 at 11:07 am to goldennugget
quote:
So all I need to do to afford a $750,000 house
Being an ignorant, unrealistic little bitch certainly won't get you there.
Posted on 3/17/25 at 11:08 am to goldennugget
quote:
So all I need to do to afford a $750,000 houseby goldennuggetIs to cancel my Netflix subscription and stop buying lattes and avocado toast? Then I will be able to afford a house? But what if I don't subscribe to Netflix, don't drink coffee, or eat avocado toast? Also can you point me in the direction of those $500 beater cars that are always being talked about while you're at it?
No all that needs to happen is your government stop printing money and balance a budget.
This post was edited on 3/17/25 at 11:09 am
Posted on 3/17/25 at 12:52 pm to RollTide4547
Add to that, the appliances, finishes, insulation, and extra utility installs that go into a modern house build.
Posted on 3/17/25 at 1:04 pm to Clames
quote:Why? Those would have gone into the homes in 1979 too. The per sq foot price is the selling price (with all those things you mentioned included) divided by the sq footage.
Add to that, the appliances, finishes, insulation, and extra utility installs that go into a modern house build.
Posted on 3/17/25 at 1:08 pm to goldennugget
Move to a rural area and get that house for under $500k along with 30 head of cattle.
This post was edited on 3/17/25 at 1:16 pm
Posted on 3/17/25 at 1:10 pm to goldennugget
You can’t afford a $750,000 house.
If you could, why would you spend that much?
Start small in a neighborhood you don’t love, put in some sweat equity and move up from there.
You can swing a hammer and operate a paint brush, right?
If you could, why would you spend that much?
Start small in a neighborhood you don’t love, put in some sweat equity and move up from there.
You can swing a hammer and operate a paint brush, right?
Posted on 3/17/25 at 1:12 pm to roadGator
quote:
Start small in a neighborhood you don’t love, put in some sweat equity and move up from there.
Flipping houses in the ghetto can turn bad real quick. Values can plummet over short periods of time, and they have a hard, capped ceiling.
Posted on 3/17/25 at 1:13 pm to SlowFlowPro
Well that is just peachy news.
But I didn’t say flip or buy in the ghetto.
You just can’t help yourself.
But I didn’t say flip or buy in the ghetto.
You just can’t help yourself.
Posted on 3/17/25 at 1:15 pm to roadGator
quote:
But I didn’t say flip or buy in the ghetto.
In most metro areas, the places where you can buy these "fixer upper starter homes" are in bad areas, which is both why (1) they're cheap and "starter homes" and (2) they're in need of that sweat equity.
That was the implication in my post. This isn't the past where these homes were found in good areas relatively often.
Posted on 3/17/25 at 1:19 pm to SlowFlowPro
Is there anything you aren’t an expert in?
Maybe you can start selling e books about how to do this and that using all your expertise.
It wouldn’t take long to find starter homes just about anywhere. The youngster may not like the drive or the amount of work it would take but again, no flipping and no ghettos.
I’ve done it all but one time and that’s in 4 large MSAs in three different states.
That one time was a calculated risk in a great area in a home that needed a lot of work. It paid off.
So there.
Maybe you can start selling e books about how to do this and that using all your expertise.
It wouldn’t take long to find starter homes just about anywhere. The youngster may not like the drive or the amount of work it would take but again, no flipping and no ghettos.
I’ve done it all but one time and that’s in 4 large MSAs in three different states.
That one time was a calculated risk in a great area in a home that needed a lot of work. It paid off.
So there.
This post was edited on 3/17/25 at 1:20 pm
Posted on 3/17/25 at 1:21 pm to goldennugget
Sadly, $750K will get you about a 1000 sq ft house in SoFla, Denver, Austin, Grand Rapids, or Phoenix. It’ll get you an efficiency apartment (maybe) in San Francisco
Posted on 3/17/25 at 1:22 pm to roadGator
Ha ha. It's a legend in it's own mind.
Posted on 3/17/25 at 1:23 pm to beachdude
quote:Sounds like it is time to move somewhere else.
$750K will get you about a 1000 sq ft house in SoFla, Denver, Austin, Grand Rapids, or Phoenix.
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