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re: The Medium income Amercan Family now earns 1/2 the income needed to buy the avg home.

Posted on 3/13/25 at 12:32 pm to
Posted by Night Vision
Member since Feb 2018
22056 posts
Posted on 3/13/25 at 12:32 pm to
I've never had a problem buying a house or with out of control debt.
Posted by RollTide4547
Member since Dec 2024
4723 posts
Posted on 3/13/25 at 12:33 pm to
quote:

Like I said previously, the people who love to live the long commute life typically hate their family anyways so I say go for it
Actually young people think they need to be given everything. You don't need to commute. Stay where you are and complain. Fine with me. Ha ha. Though i can say, if you were my kid I wouldn't want to be around your whining.
Posted by GoCrazyAuburn
Member since Feb 2010
41136 posts
Posted on 3/13/25 at 12:33 pm to
quote:

Agreed. Two incomes is probably the quickest way to fix your situation. It also allows you to be a little more risky in trying new ways to add revenue streams.


Problem here though is that the income figures are household incomes. Yes, this is the right thing to do is adding revenue streams, but the price market vs household income market is completely lopsided.
Posted by Night Vision
Member since Feb 2018
22056 posts
Posted on 3/13/25 at 12:33 pm to
Keep whining. I didn't bring up $30K, but it can be done.
Posted by Boss
Member since Dec 2007
1797 posts
Posted on 3/13/25 at 12:33 pm to
You keep complaining about afforadability. What are your stats. Income, family where do you live? Age? My guess is poor choices have been made but you are bitching about not being able to buy a house.
Posted by VADawg
Wherever
Member since Nov 2011
48436 posts
Posted on 3/13/25 at 12:34 pm to
quote:

We're in this situation now not due to any specific party, it's becuase for decades we havent built enough housing in general and affordable housing as well


A large part of this would be fixed if we went and started cracking skulls in high crime areas instead of letting ghetto/hoodrat culture take over everywhere it goes. That is the unspoken part of our housing inventory problem. There are entire sections of starter homes in large metro areas that are off limits to young families because they'd be robbed and killed within a week of moving in.

El Salvador's president would solve that part in a week.
Posted by the808bass
The Lou
Member since Oct 2012
128852 posts
Posted on 3/13/25 at 12:34 pm to
You can either admit that home ownership for Gen Z is not at some precipitously low level or you can continue to avoid the fact.

Cherry picking an example from the story doesn’t change the data.
Posted by RollTide4547
Member since Dec 2024
4723 posts
Posted on 3/13/25 at 12:34 pm to
quote:

oblivious to the point being made,
Not at all. I'm hearing a lot of whining. It's the cards your delt. Play 'em or fold 'em. If you can't get what you want where you are at and with what you're making, do something different.
Posted by 50_Tiger
Arlington TX
Member since Jan 2016
43463 posts
Posted on 3/13/25 at 12:35 pm to
quote:

A large part of this would be fixed if we went and started cracking skulls in high crime areas instead of letting ghetto/hoodrat culture take over everywhere it goes. That is the unspoken part of our housing inventory problem. There are entire sections of starter homes in large metro areas that are off limits to young families because they'd be robbed and killed within a week of moving in.


I know a lot of land South of Dallas and I-30 that could get gentrified in a minute if this happened
Posted by GoCrazyAuburn
Member since Feb 2010
41136 posts
Posted on 3/13/25 at 12:35 pm to
quote:

Not at all. I'm hearing a lot of whining. It's the cards your delt. Play 'em or fold 'em. If you can't get what you want where you are at and with what you're making, do something different.


Clearly, you don't get the point
Posted by Eric Nies Grind Time
Member since Sep 2012
25507 posts
Posted on 3/13/25 at 12:36 pm to
I own a house. Just a small one. Bought for 235k in 2015. Worth around 550k now. Glad I was able to scrape together the down payment at the time. Could not afford to buy here now.
This post was edited on 3/13/25 at 12:39 pm
Posted by GeauxBurrow312
Member since Nov 2024
6273 posts
Posted on 3/13/25 at 12:36 pm to
The $30k was mentioned because that is the median income for the area the other poster was showing $200k - $250k homes. Median household for that area is a little over $50k.

There are no cost saving strategies that make that level of income viable for buying a home in that price range.
Posted by RollTide4547
Member since Dec 2024
4723 posts
Posted on 3/13/25 at 12:37 pm to
quote:

If you dont see how this is a problem for the country as a whole I dont know what to tell you. Our birth rate is collapsing, most people cant afford to start a family
lot's of complaing here. What is your solution? Force those that own houses to sell them less than fair market value? Bring in slave labor to build houses so they can be sold cheaper? Have the government tax working people more to subsidize housing for those that can't afford it? Print more money and give it to people to buy houses?
Posted by DrrTiger
Gulf of America
Member since Nov 2023
2544 posts
Posted on 3/13/25 at 12:37 pm to
quote:

Oh, I wouldn't have a house there. Crime has picked up, and the traffic is crazy, and it recently flooded, and ... and .... and ..... you know ....


True, true… plus my grandpappy lived there back in the 50s and his commute to the asbestos factory was only like 5 minutes. Lucky bastard.
Posted by RollTide4547
Member since Dec 2024
4723 posts
Posted on 3/13/25 at 12:38 pm to
quote:

Clearly, you don't get the point
What is the point? You want to whine because you can't have what you want, NOW and where you want it while doing the exact same things you've been doing?
Posted by TS1926
Alabama
Member since Jan 2020
8038 posts
Posted on 3/13/25 at 12:39 pm to
quote:

Median income in lake Charles is $30k.

No one making $30k is buying a $200k+ house.

Edit: adjusted figures, was thinking of st charles parish at first


Those people probably can get A LOT of help from the government with down payment assistance and probably even assistance with the monthly mortgage.
Posted by Night Vision
Member since Feb 2018
22056 posts
Posted on 3/13/25 at 12:39 pm to
If you really wanted it and you saved your money after a few years you could buy a house.

You would still have to watch your money after the fact for a few more years, but it could be done.

Most of you guys crying about this want to blow money left and right and then cry because you can't buy a bigger house than you need.

Posted by the808bass
The Lou
Member since Oct 2012
128852 posts
Posted on 3/13/25 at 12:40 pm to
quote:

but the price market vs household income market is completely lopsided.


My daughter is 26. All her married friends own homes. None of them are “rich.” Most of them own what I would call a “starter home.” Some are in the city. Some in the ex-urbs.
Posted by Eric Nies Grind Time
Member since Sep 2012
25507 posts
Posted on 3/13/25 at 12:40 pm to
This board is literally 99% whining. Why does this bother you so much?
Posted by GoCrazyAuburn
Member since Feb 2010
41136 posts
Posted on 3/13/25 at 12:41 pm to
quote:

My daughter is 26. All her married friends own homes. None of them are “rich.” Most of them own what I would call a “starter home.” Some are in the city. Some in the ex-urbs.


Okay?
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