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re: So all I need to do to afford a $750,000 house
Posted on 3/17/25 at 2:38 pm to RollTide4547
Posted on 3/17/25 at 2:38 pm to RollTide4547
quote:
What is faulty about the logic? A larger house would logically be more.
He didn't disagree with you on that point.
He said the larger homes are a disadvantage for entry level buyers (b/c of that increased price point you referenced).
1
Posted on 3/17/25 at 2:40 pm to scottydoesntknow
quote:
Listen punk, you may be getting some wild ideas about not supporting another bailout of subprime mortgages and the stock market if they correct...because Drumph keeps talking about balanced budgets, cutting size of government and fair trade. You best just get that out of your head! I worked real hard to acquire my 5 rental properties and stock portfolio and I wont have a market correction deprive me of that I deserve!!
I cannot wait for the older "Real estate boostrap" crowd to have the most extreme melts once RE pops and those values plummet 20-35% so I can tell them to skip their daily lattes.
Posted on 3/17/25 at 2:43 pm to goldennugget
quote:
Is 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?
To seriously answer your questions(which you probably already know the answer), there are no affordable homes in decent areas near job centers anymore. There used to be...when boomers were growing up. They all abandoned those neighborhoods to the ghetto decades ago to move to the suburbs and buy their soulless McMansions.
As boomer correctly responded to you earlier, you can either rent(from them) or move(away from the job centers). Sure you may have a 3 hour commute time every day but suck it up buttercup
Posted on 3/17/25 at 2:45 pm to SlowFlowPro
quote:In both cases I used the median price and median sq footage in both 1979 and 2024. If there wasn't a market for larger and larger homes, the median sq footage would be less in 2024. People are obviously demanding larger and larger homes. If there were a demand for starter size homes, there would be a supply.
He said the larger homes are a disadvantage for entry level buyers (b/c of that increased price point you referenced).
If he didn't disagree with my logic, why did he say it was flawed?
This post was edited on 3/17/25 at 2:47 pm
Posted on 3/17/25 at 2:47 pm to SlowFlowPro
quote:
I cannot wait for the older "Real estate boostrap" crowd to have the most extreme melts once RE pops and those values plummet 20-35% so I can tell them to skip their daily lattes.
A reckoning is coming in the rental markets. The government has also been paying the mortgage payments of millions of FHA loans to avoid a housing collapse. I hope Trump stops that nonsense and allows them to go to foreclosure.
The real question is whether the Trump admin will support a bailout. I hope they dont. We literally repeated the subprime mortgage crisis
Posted on 3/17/25 at 2:49 pm to goldennugget
Make sure you cancel all your Twitch subscriptions too. Those things are $5 per.
Posted on 3/17/25 at 2:49 pm to jamboybarry
quote:
There are homes available for less then $750K bro
You can find a decent home in the KC market (3 bedroom, 2 bath, 2 car garage, 1600-2000 square feet etc.) for under $500k......still ridiculous how much residential real estate has risen the past 10 years.
Posted on 3/17/25 at 2:50 pm to RollTide4547
quote:
. If there wasn't a market for larger and larger homes, the median sq footage would be less in 2024.
You do realize we're in a RE bubble, right?
And the lack of adequate starter homes is one reason why we are in that bubble?
And do you understand how the lack of smaller, starter homes will impact the overall avg square footage?
quote:
People are obviously demanding larger and larger homes.
And becoming house poor with potential disastrous effects when the bubble pops.
quote:
If there were a demand for starter size homes, there would be a supply.
Builders are acting against pure supply/demand market conditions due to the bubble nature of the economics involved.
Like I said in the other thread, many of the major builders are simply canceling projects instead of lowering prices, because they want to force this higher price point (and the higher-margin output they've grown accustomed to)
Posted on 3/17/25 at 2:50 pm to scottydoesntknow
quote:Life is hard. If you can't get the things you want where you are currently located and doing what you are currently doing, either accept it or change locations, careers or both.
Sure you may have a 3 hour commute time every day but suck it up buttercup
Posted on 3/17/25 at 2:51 pm to DownshiftAndFloorIt
quote:you will never own a house and I think it's funny.
Old people don't understand the struggle.
Posted on 3/17/25 at 2:51 pm to scottydoesntknow
quote:
The real question is whether the Trump admin will support a bailout.
I was postulating this in the other thread.
It's going to be tough to sell if they're economic strategy is truly to force a recession so they can lower interest rates. You can't do this and then bailout RE when the bubble bursts due to that forced recession.
Posted on 3/17/25 at 2:57 pm to SlowFlowPro
quote:Don't care. Where there is a will, there is a way. If people put as much effort into actually accomplishing their goals as they do complaining why they can't, they'd already have accomplished them.
You do realize we're in a RE bubble, right?
quote:If there were a demand for new starter homes, a builder would step up and provide them. Young people I know want large homes.
And the lack of adequate starter homes is one reason why we are in that bubble?
quote:Absolutely do. Question is do you understand that the demand for larger homes leads to less supply in starter homes.
And do you understand how the lack of smaller, starter homes will impact the overall avg square footage?
quote:Anytime you become poor is bad, seems to me. If you can swing the payment when you buy and then the market drops, keep living in the house. You're not out anything if you don't sell.
And becoming house poor with potential disastrous effects when the bubble pops.
quote:I'm pretty sure, if i purchase a piece of property I can find a builder to build the home I want and in the size I want.
Builders are acting against pure supply/demand market conditions due to the bubble nature of the economics involved.
Posted on 3/17/25 at 3:01 pm to SlowFlowPro
quote:
force a recession
If you are holding up a falling board and just let go of it to let it fall...did you force it to fall over?
This post was edited on 3/17/25 at 3:02 pm
Posted on 3/17/25 at 3:05 pm to narddogg81
quote:
you will never own a house and I think it's funny.
Pride precedes the fall
Posted on 3/17/25 at 3:08 pm to RollTide4547
Well it's clear you don't want to listen. Good day.
Posted on 3/17/25 at 3:11 pm to SlowFlowPro
quote:I listened, but feel you are full of dung.
Well it's clear you don't want to listen.
Posted on 3/17/25 at 3:11 pm to goldennugget
Settle down Karen. The point is there are things you can do. There are things everyone can do to cut cost and in some cases drastically in order to make things like a house more affordable.
There was a time that peoples lives weren’t so expensive because there were no personal communication devices or electronics at all besides a landline and it wasn’t very expensive.
Think of how much it cost to be you not even including the roof over your head or the vehicle you drive.
Those costs did not exist until about 20 years ago.
Somehow, the world operated just fine without them and their associated costs.
Let that sink in.
There was a time that peoples lives weren’t so expensive because there were no personal communication devices or electronics at all besides a landline and it wasn’t very expensive.
Think of how much it cost to be you not even including the roof over your head or the vehicle you drive.
Those costs did not exist until about 20 years ago.
Somehow, the world operated just fine without them and their associated costs.
Let that sink in.
Posted on 3/17/25 at 3:13 pm to RollTide4547
quote:
I listened, but feel you are full of dung.
Says the person who ignores/dismisses the economic realities of the government-fueled bubble that is RE when it's unfortunate for his arguments.
Posted on 3/17/25 at 3:14 pm to wallowinit
quote:
The point is there are things you can do. There are things everyone can do to cut cost and in some cases drastically in order to make things like a house more affordable.
There was a time that peoples lives weren’t so expensive because there were no personal communication devices or electronics at all besides a landline and it wasn’t very expensive.
Think of how much it cost to be you not even including the roof over your head or the vehicle you drive.
Those costs did not exist until about 20 years ago.
Ignoring who gnug is, add up what you think those costs are, and we can do an analysis on the median income/house price for a major market (Dallas works because that's where OP is from)
Posted on 3/17/25 at 3:17 pm to SlowFlowPro
quote:Nothing I can do about that. So I don't care. What I can do is apply myself to reaching my goals. If my goals cannot be reached in my current location and in my current career, I can change one or both and reach my goals.
who ignores/dismisses the economic realities of the government-fueled bubble that is RE when it's unfortunate for his arguments.
This post was edited on 3/17/25 at 3:18 pm
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