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Started By
Message
re: The Medium income Amercan Family now earns 1/2 the income needed to buy the avg home.
Posted on 3/14/25 at 10:23 am to Boss
Posted on 3/14/25 at 10:23 am to Boss
quote:
Or don’t take the Disney trip and go to the beach instead which is half the price. But his kids needs to make those instagram memories. And then bitch about not being able to buy a 550k house at 26. Gimme a fricking break.
This is no doubt an option- to not take the Disney trip. But it also completely misses the point of this thread.
You are suggesting that you see nothing wrong with making $200K/yr and a weeklong Disney trip every five years being the difference between a decent home or renting. 2.5X the median income should afford you a trip to Disney every year if you choose to do so.
You're suggesting that an average home in many parts of south Louisiana costing over $500K is okay and normal and not unexpected and easily overcome. And if someone doesn't like it, they can move. 2.5X the median income does indeed afford them to buy the houses I'm describing. But then they're near slaves to a mortgage.
This is not normal. No one's asking for your pity. But it should not be that difficult for you to admit that todays youngsters have a unique situation on their hands that makes it more difficult to purchase a home and start a family.
1
Posted on 3/14/25 at 10:29 am to ronricks
quote:
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.
I get it...theres been a lot of boy crying wolf. A lot has changed rapidly though. People are getting maxxed out on their credit cards, bills are piling up. There just arent enough people that have the money to pay these prices. As Stidham pointed out...in the desirable areas prices will hold to a certain degree...but those middle ground houses are not selling right now. Florida right now, the cards are starting to fall. This morning I saw a Bham house overpriced by probably 150k that has been on the market for close to 50 days. It will be on the market for a decade at that price
Posted on 3/14/25 at 10:41 am to scottydoesntknow
quote:
You are just another boomer that would be a broke loser if he had been born in 2000
Don't speak for Zoomers.
They found a way to buy the homes Gen-Y wouldn't.
Posted on 3/14/25 at 10:43 am to Boss
Inconvenient truth of the day:
The white, suburban middle class is living in a debt-fueled fantasy world and when they wake up, the hangover might tank everything.
The white, suburban middle class is living in a debt-fueled fantasy world and when they wake up, the hangover might tank everything.
Posted on 3/14/25 at 10:49 am to SDVTiger
quote:
Sounds like a great buying oppurtunity
Not yet but getting there
Posted on 3/14/25 at 10:51 am to scottydoesntknow
quote:
The average 26 year old dude making 60k..
quote:So, after fallaciously, repeatedly lashing out at "boomers," you're now speaking for the average 26y/o dude? While you claim the avg 26y/o gals are all either taken or "sluts"?
The best looking girls in his 50 mile radius are all 1) married 2) Instagram "models" entertaining DMs from rich/famous men 3) Onlyfans 4) Sluts
Perhaps, as the avg 26y/o dude is more likely to own a home than either of the two preceding generations, you should relegate your further opining to your own age group.
Posted on 3/14/25 at 10:51 am to NC_Tigah
quote:
They found a way to buy the homes
lol so many Boomers and Xers are living an an alternate reality
Posted on 3/14/25 at 10:52 am to NC_Tigah
quote:
Perhaps, as the avg 26y/o dude is more likely to own a home than either of the two preceding generations, you should relegate your further opining to your own age group.
I wonder where you got this BS statistic from
Posted on 3/14/25 at 10:53 am to scottydoesntknow
quote:Interesting. Detail out that contention if you would.
Yes you did...2008 bailed you all out.
Posted on 3/14/25 at 10:56 am to scottydoesntknow
quote:
I wonder where you got this BS statistic from
You know I wondered the same thing but unlike you I'm not a lazy piece of shite so I looked it up and it turns out it's true. In 1990 45% of people age 25 to 30 owned homes. Now the number is 51%. You know you don't have to be a lazy frick so being one is a choice
Posted on 3/14/25 at 10:57 am to deuceiswild
quote:No more so than the youngsters in the mid to late 1970's. The median income family paid over 42%+ of their monthly income for principal and interest on a median home in 1979. Same median group today pays 41% for a median home. Things were certainly better during the Big Orange Meanie's first term. Now the young people who voted against him are complaining. Elections have consequences.
But it should not be that difficult for you to admit that todays youngsters have a unique situation on their hands that makes it more difficult to purchase a home and start a family.
Posted on 3/14/25 at 11:01 am to RollTide4547
Exactly. He is complaining about his kids not being able to afford a nice house on 200k of income. That is a lifestyle choice right there, plain and simple.
Posted on 3/14/25 at 11:03 am to Stidham8
quote:Good job!
Our current house was bought in 2020 with a 3% mortgage for under 190K and would easily go for 270K now.
So assuming $38K down, ROI over 5yrs is ~210% in tax protected profits.
quote:That's the ticket.
I’d rather save the money, have a bigger down payment, and wait for the right house.
Posted on 3/14/25 at 11:05 am to Nado Jenkins83
quote:
One day poor people will just take them
One of the reasons so many of the poor are poor is because they expect someone else to do the work for them. So good luck with that.
Posted on 3/14/25 at 11:15 am to NC_Tigah
quote:
Interesting. Detail out that contention if you would.
Sure, let it be known that the Boomers are the welfare queens of generations.
If TARP had not bailed out banks because they were "too big to fail" much of the savings of Boomers would have been wiped out and the stock market would have crashed. It should have been allowed to happen because proceeding with a bailout set the economy on an artificial course.
Theres a good chance that you being an old arse boomer or Xer had money in banks and investments...I didnt. I also didnt contribute to the mess that caused it.
Boomers and Xers then proceeded to vote themselves 10+ years of basically free, printed money while indulging the culture in every degenerate behavior as long as it kept their precious market stable.
We then had to shut down the world for 2 years because yall were scared of dying of a virus that only was lethal to old people.
Congrats on being the worst, most selfish generation to ever exist in human history
Posted on 3/14/25 at 11:16 am to Grumpy Nemesis
quote:
You know I wondered the same thing but unlike you I'm not a lazy piece of shite so I looked it up and it turns out it's true. In 1990 45% of people age 25 to 30 owned homes. Now the number is 51%. You know you don't have to be a lazy frick so being one is a choice
Post your source Boomer
Posted on 3/14/25 at 11:17 am to scottydoesntknow
TIme for your bedtime Scottie.....Your falsehoods and venom towards the older generation, and dar I say, jealousy of us is quite comical. I wonder why you are still single.
Posted on 3/14/25 at 11:23 am to Boss
quote:
Exactly. He is complaining about his kids not being able to afford a nice house on 200k of income. That is a lifestyle choice right there, plain and simple.
Again, you are missing the point.
My kids can afford the $500K home. And yes, due to personal choices they've made, it makes it harder to afford than it needs to be. But my kids make more than the average.
The point of this thread is the average youngster struggling because of the price of housing combined with interest rates. It may not be a totally unprecedented situation in our country's history, but the last time it happened very few people on this board were of age to be purchasing a home. Very few people commenting actually dealt with the situation, and merely watched their parents deal with it.
Posted on 3/14/25 at 11:27 am to scottydoesntknow
quote:Now, home owners are "greedy fricks"???
These people are greedy fricks but that gravy train is over
Posted on 3/14/25 at 11:30 am to deuceiswild
And as I have repeatedly state, you start small. Buy a condo, buy an apartment, save for 5 or 10 years. Then move up. Sub-30 kids want a 3500 sq ft 4 bedroom house with granite and wood floors. My first house I bought when I was 28, 7 years after I got out of college. It was 1280 sq ft, and had formica countertops, and I spent every weekend on projects.
Kids nowadays are spoiled. They want vacations, and the family, and the big house, and not have to work too hard, and they want everything to be easy. Life isn't easy.
Kids nowadays are spoiled. They want vacations, and the family, and the big house, and not have to work too hard, and they want everything to be easy. Life isn't easy.
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