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re: So all I need to do to afford a $750,000 house
Posted on 3/17/25 at 5:32 pm to goldennugget
Posted on 3/17/25 at 5:32 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?
You have to save up 150K for a downpayment and then you're left with a 4K per month mortgage. All for a house that's probably worth about 550K but prices are inflated right now because of the shortage of houses, high interest rates, and not many wanting to sell.
This post was edited on 3/17/25 at 5:36 pm
0
Posted on 3/17/25 at 5:34 pm to Ostrich
quote:
Would I raise a family in an Alabama mobile home zoned to MLK elementary?
The houses got much better if you went up to $225k. If you can’t, you shouldn’t be trying to “raise a family” there anyway.
Posted on 3/17/25 at 5:35 pm to SDVTiger
quote:
Well you can find some maybe in WV that are decent but majority if not all homes at 150k will be in a shitehole area
Lots of areas in the Midwest (Based on watching Caleb Hammer videos), in theory. But $150k is stretching it.
In all of LC, this one fits the bill.
That area is declining rapidly though and you won't get a good middle school. Your elementary school will be where I went, funny enough.
That home, if you look at the interior, is almost a complete gut-rebuild. The problem is, that area has a HARD future ceiling. Even if you do it yourself, you're going to need at least $25-50k to replace that interior. They didn't even include pics of the purported 2nd bathroom, which is a major red flag to me.
Posted on 3/17/25 at 5:35 pm to goldennugget
You’ve always been such a fricking bitch.
Posted on 3/17/25 at 5:36 pm to wackatimesthree
quote:
If you were raising a family you'd have two incomes and could afford a more expensive house than $150k.
That’s assuming your spouse makes more than the cost of daycare which isn’t a given either. I would argue having more women enter the workforce over the last 50 years has sped up inflation for exactly the reason you just stated, but I’ll leave that for another thread
Posted on 3/17/25 at 5:37 pm to wackatimesthree
quote:
Beside, if the salaries they offer to work on these places are not "competitive" enough to enable people to live on them in those places, what's the point of busting your arse to get one of those jobs and live in one of those places?
This is exactly the point of the thread. The housing markets make no rational sense anymore.
Posted on 3/17/25 at 5:38 pm to Ostrich
quote:
Would I raise a family in an Alabama mobile home zoned to MLK elementary? Hell no. It’s a shite hole.
You missed Northside Baptist Church I see
Posted on 3/17/25 at 5:39 pm to goldennugget
I'm sure it's been asked but WTF are you wanting to buy a $750k house? That's if-you-have-to-ask territory.
Posted on 3/17/25 at 5:40 pm to Ostrich
quote:
That’s assuming your spouse makes more than the cost of daycare which isn’t a given either. I would argue having more women enter the workforce over the last 50 years has sped up inflation for exactly the reason you just stated, but I’ll leave that for another thread
Oh, it's not ideal, for many reasons. I wouldn't do it. I would live in the modular home linked so my wife wouldn't have to work before I would put my kids in daycare...in fact, that's basically the choice we made.
But I'm not the one claiming that buying a house is impossible when what you really mean is that it is impossible to live exactly where you want and in exactly the kind of house you want when you're 22 frigging years old like you're entitled to it. Y'all are the ones doing that.
Posted on 3/17/25 at 5:40 pm to wackatimesthree
quote:
And there you go.
This is why I will not post listings without a definition of terms.
Dude we were discussing a listing from a black area in the non-urban South. Now, is every single one of these areas a shithole? No, but looking at that house/neighborhood, you should have been able to tell. You're from the South, right?
This post was edited on 3/17/25 at 5:42 pm
Posted on 3/17/25 at 5:41 pm to SlowFlowPro
quote:
This is exactly the point of the thread. The housing markets make no rational sense anymore.
Well, you're a free market guy.
You know what's going to correct it.
It's not complicated.
Posted on 3/17/25 at 5:42 pm to SlowFlowPro
quote:
Dude you posted a listing from a black area in the non-urban South.
I don't know who you're responding to, but I haven't posted any links/listings.
This post was edited on 3/17/25 at 5:42 pm
Posted on 3/17/25 at 5:42 pm to goldennugget
What have you accomplished in life that would validate you having a 3/4 million dollar house?
Posted on 3/17/25 at 5:43 pm to wackatimesthree
quote:
Well, you're a free market guy.
You know what's going to correct it.
It's not complicated.
As I posted on page 5
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.
Posted on 3/17/25 at 5:43 pm to wackatimesthree
quote:
I don't know who you're responding to, but I haven't posted any links/listings.
You're right I had edited before you made this post.
Posted on 3/17/25 at 5:47 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.
So what's the point of all of the pearl clutching over this?
Markets overvalue and they correct. They've done it before and they'll do it again.
Other people in the past have had to wait before market conditions corrected before buying houses (specifically in my lifetime, people in the late 70s and into the 80s) and people now will too.
None of any of that means that young people now have to walk uphill to school in the snow barefoot, both ways. It used to be old people you had to listen to that nonsense from. Now it's young people.
This post was edited on 3/17/25 at 5:48 pm
Posted on 3/17/25 at 5:49 pm to wackatimesthree
quote:
But I'm not the one claiming that buying a house is impossible when what you really mean is that it is impossible to live exactly where you want and in exactly the kind of house you want when you're 22 frigging years old like you're entitled to it. Y'all are the ones doing that.
I haven’t claimed it’s impossible either. But it definitely costs more to buy a house now than it used to, even factoring in inflation.
Posted on 3/17/25 at 5:52 pm to wackatimesthree
quote:
Not sure why I'm wasting my time replying to someone who has spared no expense of effort to consistently represent how dumb you are over a period of years on this board, but I've already told you why I haven't linked anything.
What an excuse
The poster above linked a house. Thats a shitehole. I googled an apartment complex in Huntsville Metronome thats like 1300 for a 1bd room that looks really nice with ammenties. Image the difference bringing hone some chick at both places
No one is buying 150k houses. And you cant link any that arent a shitehole
Sorry that upsets you. Now you can make all the excuses that im so how dumb yet am clearly much smarter than you on this subject
Posted on 3/17/25 at 5:53 pm to roadGator
quote:
Is there anything you aren’t an expert in?
Best reply in this thread.
Posted on 3/17/25 at 6:01 pm to wackatimesthree
quote:
So what's the point of all of the pearl clutching over this?
Fedgov has been bailing them out since the end of 2008
Millennials who have been fricked by all of these unprecedented/historic economic events don't trust fedgov to not step in.
quote:
Other people in the past have had to wait before market conditions corrected before buying houses (specifically in my lifetime, people in the late 70s and into the 80s) and people now will too.
Older millennials are too old to enjoy a 30-year mortgage. If 2008 through Covid and the post-Covid economy have prevented them from owning into their mid-30s, the question becomes if buying even makes sense at that point.
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