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re: The Medium income Amercan Family now earns 1/2 the income needed to buy the avg home.
Posted on 3/12/25 at 7:35 pm to POTUS2024
Posted on 3/12/25 at 7:35 pm to POTUS2024
I agree with you somewhat on the extrapolation depicted, The problem lies in a Fannie-May doctrine enacted that destroyed the banking systems ability to discern what people could and could not afford.
“Put an arm on your arm it’s a no brainer!”
I don’t know the answer, but If I was a young person starting today I wouldn’t use credit cards but other mediums like affirm cards and zell to eliminate roll over charges.
But don’t tell me you are suffering compared to past generations because that is just not plausible.
“Put an arm on your arm it’s a no brainer!”
I don’t know the answer, but If I was a young person starting today I wouldn’t use credit cards but other mediums like affirm cards and zell to eliminate roll over charges.
But don’t tell me you are suffering compared to past generations because that is just not plausible.
1
Posted on 3/12/25 at 7:41 pm to RiverCityTider
quote:
The Medium income Amercan Family now earns 1/2 the income needed to buy the avg home.
What is a "Medium income American Family"?
What is the income needed to buy the avg home?
Posted on 3/12/25 at 7:42 pm to BarberitosDawg
I'll tell you right GD now things were easier in the 1970s
Thr women were at home...a neighborhood full of mothers during the day. Nice homes ...big yards..no crime...and mostly high school graduates paying for all of it, plus decent savings and retirement and two cars.
Find that neighborhood now. I dare you.
Thr women were at home...a neighborhood full of mothers during the day. Nice homes ...big yards..no crime...and mostly high school graduates paying for all of it, plus decent savings and retirement and two cars.
Find that neighborhood now. I dare you.
This post was edited on 3/12/25 at 7:44 pm
Posted on 3/12/25 at 7:46 pm to NYNolaguy1
quote:
What is a "Medium income American Family"?
What is the income needed to buy the avg home?
Ohh, ya got me. Google is your friend. But I would refer you to JD Vances speech on the same topic two days ago, and makes the same exact claim.
This post was edited on 3/12/25 at 7:48 pm
Posted on 3/12/25 at 8:12 pm to BarberitosDawg
This home could be built for 5,000 dollars around 1920
That’s roughly 80,000 dollars today.
Go see what 80,000 dollars today builds. Can’t hardly buy a new Mobile home for that
That’s roughly 80,000 dollars today.
Go see what 80,000 dollars today builds. Can’t hardly buy a new Mobile home for that
Posted on 3/12/25 at 8:16 pm to HubbaBubba
quote:
The problem is, nobody wants to start at #1 anymore. Everyone thinks they should be able to start at #5. They aren't willing to build their future by starting small and move up as their income moves up.
No one wants to live in the ghetto. More news at 11
Posted on 3/12/25 at 8:19 pm to NYNolaguy1
Here's a more detailed breakdown:
Median Income: Around $75,000
Median Income for Two-Person Families: $82,685
Data Sources: U.S. Census Bureau and other data studies
Real Median Household Income 2023: $80,610
Real Median Household Income 2022: $77,540
Increase in Real Median Household Income: The first statistically significant annual increase since 2019.
Median Income: Around $75,000
Median Income for Two-Person Families: $82,685
Data Sources: U.S. Census Bureau and other data studies
Real Median Household Income 2023: $80,610
Real Median Household Income 2022: $77,540
Increase in Real Median Household Income: The first statistically significant annual increase since 2019.
Posted on 3/12/25 at 8:21 pm to POTUS2024
quote:
The cost increases have not been linear and they have not been aligned with changes in income and other items making up the cost of living.
This is what older people tend to not understand.
Wages have not grown anywhere close to the rate of inflation of core costs like housing, education, autos, insurance, or basic commodities. Money doesn’t go that far anymore. Very bad financial policy is killing the middle class in this country.
This post was edited on 3/12/25 at 8:22 pm
Posted on 3/12/25 at 8:22 pm to RiverCityTider
quote:
The Medium income Amercan Family now earns 1/2 the income needed to buy the avg home.
The average new home is 2400 SF.
Posted on 3/12/25 at 8:23 pm to RiverCityTider
I must get half a dozen “We want to to buy your home!” Cards a week. Theres no way in hell I’d ever sell a paid-off home in THIS market.
Posted on 3/12/25 at 8:23 pm to RiverCityTider
We need another homestead act...theres a lot of federal land out West...
Posted on 3/12/25 at 8:25 pm to the808bass
quote:
The average new home is 2400 SF.
The prior generation neighborhoods full of 1200 sq ft 3BR/2BA homes are unlivable for anyone that doesn’t want rampant street crime, break-ins, etc.
Not saying you’re wrong, and in fact I agree with you. Acceptable housing for young families and the middle class is now larger and more expensive than it used to be or needs to be. But at the same time, the prior options are no longer realistically available. There isn’t cheap family housing in safe areas anymore. There was 50 years ago.
Posted on 3/12/25 at 8:29 pm to baldona
quote:
They just bought a house for $532,000 with 3% down on a VA loan. If this guy can do that there’s literally reason to feel bad for anyone.
Either their family is helping them, or the bank will foreclose on them in 2 to 3 years. A house payment like that with jobs like those means that even a modest emergency can bankrupt them.
Posted on 3/12/25 at 8:33 pm to DesScorp
quote:
even a modest emergency can bankrupt them
This describes a disturbingly large portion of the population these days. It’s basically anyone with kids that isn’t making six figures household income, and even many of those that do.
Think about places like Louisiana, where most locations require five figure tuition payments per kid because the public schools are unusable.
This post was edited on 3/12/25 at 8:35 pm
Posted on 3/12/25 at 8:34 pm to RiverCityTider
The average income needed went from around $60,000 to over $100,000 in less than 4 years of Joe.
Posted on 3/12/25 at 8:35 pm to BarberitosDawg
quote:I paid points to get to 13%.
My first home after marriage in 1979 was a fixed 30 year at 13.4% interest 30% down.
These folks today have no clue what the Carter years were like.
Posted on 3/12/25 at 8:36 pm to HubbaBubba
100% get what your saying. And you’re correct.
That being said, that final house you just mentioned is now 800k plus in my area. Even a 2001 model. Something has to give
That being said, that final house you just mentioned is now 800k plus in my area. Even a 2001 model. Something has to give
Posted on 3/12/25 at 8:38 pm to RiverCityTider
quote:Horse is out of the barn. Do we keep feeding the fraud or do we reel it in and be better stewards of our money? Do we continue trade deficits or do we bite the bullet and insist on better deals. Yeah - it's going to be painful. Upper and upper middle are not responsible for this. Do we feel their pain; no?. But, something has to give or it's over. So hush, and go do some research.
The trade debate and the "free traders" are the quintessential example of such reckless indifference.
Posted on 3/12/25 at 8:40 pm to BarberitosDawg
quote:
My first home after marriage in 1979
quote:
In 1979, the median home price in the United States was approximately $71,800.
Inflation-Adjusted Price (2025 dollars): $295,442
quote:
As of January 2025, the median sale price of a home in the United States was $418,284
It’s not 1979.
This post was edited on 3/12/25 at 8:42 pm
Posted on 3/12/25 at 8:43 pm to RiverCityTider
This situation was caused by Biden, Democrats and Covid...
The 20K I had saved was enough for 1/3 of a house where I live in 2019 because they were averaging about 60K... Then covid, houses shot up to around 225K for the same house.
My 20K went to crap overnight. took me years to save.
If you don't think that Covid was a Chinese Bio weapon, you are out of your head.
I just viewed my PRoperty tax and home Value.
2004 - 26K
ten years later
2014 - 35K
2019 - 32K
The Value actually dropped
2024 - 58K
Barely moved for 20 years... Then
It freaking doubled due to Covid and Bidenomics.
The 20K I had saved was enough for 1/3 of a house where I live in 2019 because they were averaging about 60K... Then covid, houses shot up to around 225K for the same house.
My 20K went to crap overnight. took me years to save.
If you don't think that Covid was a Chinese Bio weapon, you are out of your head.
I just viewed my PRoperty tax and home Value.
2004 - 26K
ten years later
2014 - 35K
2019 - 32K
The Value actually dropped
2024 - 58K
Barely moved for 20 years... Then
It freaking doubled due to Covid and Bidenomics.
This post was edited on 3/12/25 at 8:50 pm
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