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

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Y'all just want everything given to you instead of working for it. What's even better is most of you frickers voted for Trump, and yet you guys are screaming about not getting your fair share.

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Again, creating this caricature of young men that doesnt at all reflect reality.

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My first year as an account I made 36000

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What year? You people refuse to accept that the inflation you created destroyed the dollar

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The correction is coming. I was doing my daily morning coffee Zillow search and looked at Bham. Houses in the ghetto with super high crime were for sale for well over $200/sq ft. These people are greedy fricks but that gravy train is over

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I’m in the Bham market as well. It’s crazy. What makes you think the correction is coming?

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They actually are.

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O.k., they are worth the lower end of the middle class, I stand corrected.

The point still stands, though. If the lower class (who is really with the government handouts the lower end of the middle class) can do it, the people who earn that much for themselves can also do it. They just choose not to.

Year Inc Home Int Pmt %
1975 11800 38100 9.05 307.93 31.32%
1979 16530 62900 11.2 608.54 44.18%
1983 24550 75300 13.24 847.12 41.41%
1987 30850 104500 10.21 933.32 36.30%
1991 31553 120000 9.25 987.21 37.54%
1995 34076 114600 7.93 835.31 29.42%
1999 42000 136000 7.44 945.35 27.01%
2003 43318 161500 5.89 956.88 26.51%
2007 50233 217900 6.34 1354.43 32.36%
2011 50054 246900 4.45 1243.68 29.82%
2015 56516 289200 3.85 1355.79 28.79%
2019 68703 258000 4.13 1251.15 21.85%
2023 80610 419200 6.81 2735.66 40.72%
2025 75580 396900 6.72 2566.38 40.75%

For those that think they have it today worse than those in past when it comes to buying a home, I created this based on data from the Great Google. I started in 1975 because that should be when the dreaded Boomers started buying homes (born in 1950 and age 25 in 1975). For each of the years listed we have Median Income, Median home Price, Average interest rate, mortgage payment (based on median price, average int rate at the time and 30 years) and the percentage of monthly median salary the payment takes up. Did the calculations every 4 years. Looking at the data, young people are experiencing payments for median homes being 40.7% of median income. In the late 70's and 80's median home payments were 41% and higher. The boomers were facing a tougher time than young people today.

If we take a look at the Big Orange Meanie years, the percentage was in the 20's but young people voted against him. Now those young people are facing the consequences of the biden years (ones they supported and voted for). Similar thing happened in 1975 when people voted carter in.

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He is one of those "get off my lawn" types - his way back yonder comments on his parents taking 18 years to get their first home is not the flex he thinks it is. That is not middle class

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First of all, you're a moron. The only way to verify whether young people really have it worse now is to compare it to what it was like in the past. That's not being "get off my lawn," that's actually engaging the subject. It's not my fault the objective comparison doesn't come out the way you would like.

And like I said, your clinic on the True Scotsman Fallacy is impressive.

O.k., so we were lower class growing up, if that makes you feel better.

Now people in the same scenario are still lower class. Now what? I addressed this several posts back and you ignored it.

I understand that you're stupid, but are you really so stupid that you don't see that if your criteria for being middle class is being able to buy all of these things—if that's how you define it, which is fine btw...you can define it any way you want—the comparison still comes out the same way when answering the question of whether young people today really have it so much worse than anybody else ever has?

In other words, if you wouldn't have considered us middle class, o.k., fine. That means there was a much smaller middle class back then, just like it would have to mean there is a much smaller middle class now.

It STILL doesn't mean young people now are oppressed slaves. It means the same thing as before, only you've reclassified people that everyone else puts in the middle class into the lower class.

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The middle class gets smaller by the day.

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Except that he's also stating that we weren't middle class either, back in the 70s.

Y'all can't have it both ways.

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Already seeing it in Florida

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Sounds like a great buying oppurtunity

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I feel like you're subtly trying to frame my comments into something I didn't say.

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Since you didn't quote anything it's hard to evaluate that (sorry, but I'm not going back to see exactly what you said and exactly what my response was).

I can tell you that it is not my intention to mischaracterize anything. I'm trying to respond to what is being posted.

I do remember asking why you are worried about a $4,000 mortgage when, according to what you've posted, they have over $16,000 a month pre-tax to work with. That's only 25% of their income, and because their income is so high, they should have plenty left for things like utilities and food (which don't go up just because they make more money, so those expenses will be a smaller percentage of their income than if they made $4,000 a month and their mortgage was $1,000).

I still don't really know the answer to that.

As far as "is it unreasonable to have two car notes," "should a middle class family be able to do this, that, or the other thing," this is what I was asking about entitlement. I don't remember anybody in the 70s or 80s growing up walking around proclaiming what middle class people should and shouldn't be able to do.

People just did what they could afford to do and didn't act like society owed them anything more. If they wanted more, they would get a second job.

And people back then spent way less (WAY LESS) money on luxuries. The poster upthread talking about the $5 cup of Starbucks coffee every day is dead on. So I guess people back then did communicate their stance on entitlement. They didn't feel like they should be able to do this, that, or the other thing, and you know they didn't because they simply didn't do it.

People now do a couple dozen financial things my parents never would have done—which weakens their ability to afford a house—then turn around and act like a societal victim.

Look, I get why. Since my parents were young, the amount of marketing aimed at people to convince them that they have to have and that they deserve all these material things has increased exponentially. I get what has happened. But that doesn't change the fact that it has fricked people up to the point that they cannot see reason.

I'm done with the thread. Nothing anybody says will disabuse those of you who want young people today to be oppressed victims of that notion.

To the guy who is talking about men not being able to get a date, yes, I know that is a thing, but that's not because of the economy. That's a direct result of feminism.

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The correction is coming.

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Seems like I have been hearing this since 2018. People sky screaming "These prices aren't sustainable!!!!" Well, here we are 7 years later.

Low inventory is going to keep prices high in the foreseeable future. The people wishcasting for a 'crash' are just as dumb as the ones who keep wishcasting for lower mortgage rates in the 4's. Not happening.