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re: The Medium income Amercan Family now earns 1/2 the income needed to buy the avg home.
Posted on 3/14/25 at 11:49 am to scottydoesntknow
Posted on 3/14/25 at 11:49 am to scottydoesntknow
quote:Same argument as was registered 10-12 years ago when prices and rates were low.
The problem is people are overpaying for them by hundreds of thousands.
a fool and his money...
Same argument as was registered 5-6 years ago when rates were low, but prices had slowly begun recovering.
Same argument as was registered 3-4 years ago when rates were low, but prices were on the verge of popping.
Even a broken clock is right twice a day. Maybe this time you actually are right. Frankly, I'm surprised prices seem to have held these levels at these rates. But meanwhile, the can't-do generation lost a decade and a half of real estate ROI.
0
Posted on 3/14/25 at 11:51 am to scottydoesntknow
quote:Here's you some reality.
scottydoesntknow
Year - Median Income - Median home price - Average Int rate - Payment - Payment percentage of income
1979 16530 62900 11.2 608.54 44.18%
1980 21020 69300 13.74 806.88 46.06%
1981 22390 68900 16.63 961.62 51.54%
1982 23430 69300 16.04 934.15 47.84%
1983 24550 75300 13.24 847.12 41.41%
2023 80610 419200 6.81 2735.66 40.72%
2024 77540 419200 6.7 2705.01 41.86%
2025 75580 396900 6.72 2566.38 40.75%
Those evil "Boomers" you speak of had it much worse between 1979 and 1983 than the young people today.
This post was edited on 3/14/25 at 11:53 am
Posted on 3/14/25 at 11:53 am to scottydoesntknow
quote:
lol so many Boomers and Xers are living an an alternate reality
Boomer articles?
quote:
• How Gen Z Buyers Are Succeeding in the Housing Market -- October 17, 2024
• Gen Z is buying homes at higher rates than previous generations, and finding creative ways to save money in the process -- May 28, 2024
• Gen Z Is Finding It Easier to Buy a Home Compared to Past -- May 1, 2024
• Gen-Z Is Here to Disrupt the Housing Market -- Aug 7, 2024
• Gen Z leads in homeownership, especially in the Midwest -- Aug 7, 2024
• How are Gen Zers buying homes already? - Sep 14, 2023
• The Top 10 Surprising Metros Where Generation Z Is Buying Up Homes -- Apr 15, 2024
• A study suggests that Gen Z has it better in the housing market than the millennials who came before them -- Apr 26, 2024
Posted on 3/14/25 at 11:54 am to scottydoesntknow
quote:From reading.
I wonder where you got this BS statistic from
Posted on 3/14/25 at 12:03 pm to RollTide4547
quote:
RollTide4547
Post your source you stupid old man. Thats how the internet works
If you think the median income for Gen Z is $75000, you are even more delusional than I first thought
Posted on 3/14/25 at 12:09 pm to scottydoesntknow
quote:Label it as you'd like, but TARP wasn't so much a bailout as a stop loss, FWIW. Otherwise, it would rank as the first bailout in history which was paid back with interest.
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.
Be that as it may, the most significant effect of the 2008-09 crash was the decimation of the 2009 collegiate graduating class. That year, and perhaps the next, a lower percentage of college grads found employment than even in the Great Depression.
Your selective amnesia notwithstanding, had the crash been worse, the unemployment crisis for new and recent grads would have been worse as well as well.
Posted on 3/14/25 at 12:13 pm to NC_Tigah
quote:
Label it as you'd like, but TARP wasn't so much a bailout as a stop loss, FWIW. Otherwise, it would rank as the first bailout in history which was paid back with interest.
I'm pretty sure when TARP was officially closed a year or two ago there were about $30B that were considered lost as unrecoverable.
Posted on 3/14/25 at 12:14 pm to scottydoesntknow
quote:In addition to other generations, and economics, let's add 'chart analysis' to areas you should probably shy away from.
If you think the median income for Gen Z is $75000, you are even more delusional than I first thought
This post was edited on 3/14/25 at 4:03 pm
Posted on 3/14/25 at 12:17 pm to TigerFanatic99
quote:Correct. The recoverable assets + interest more than made up for it.
I'm pretty sure when TARP was officially closed a year or two ago there were about $30B that were considered lost as unrecoverable.
U.S. ends TARP with $15.3 billion profit ( LINK)
Posted on 3/14/25 at 12:31 pm to scottydoesntknow
quote:I don't care what "Gen" someone is. If you use the "Great Google" and search for median income, median home price and average mortgage interest rate for each year you can find it.. That's how the internet works. Put that in a spreadsheet with the proper formula calculating payment. Then divide that payment by the monthly median income (median income divided by 12) you got it. Not really that hard.
If you think the median income for Gen Z is $75000, you are even more delusional than I first thought
Posted on 3/14/25 at 12:51 pm to scottydoesntknow
quote:
Post your source Boomer
I chose not to be ignorant
You've made your choice
Posted on 3/14/25 at 4:00 pm to Boss
quote:
That salary would be worth 68000 today. And my wife’s salary then would be worth 62000. And we would have rented like we did then while saving for a house. T
Your mindset would be totally different today
Posted on 3/14/25 at 4:04 pm to djsdawg
quote:He'd switch from Can-Do to Can't-Do? Why would you think so?
Your mindset would be totally different today
Posted on 3/14/25 at 4:08 pm to djsdawg
No it wouldn’t. Cause I’m not entitled prick like half the people on here.
Posted on 3/14/25 at 4:36 pm to RollTide4547
quote:
Those evil "Boomers" you speak of had it much worse between 1979 and 1983 than the young people today.
Hey quick question. How many years median income was the median house in 1979?
Another quick question. How many years median income is the median house in 2025?
Thanks!
Posted on 3/14/25 at 4:36 pm to Boss
quote:
No it wouldn’t. Cause I’m not entitled prick like half the people on here.
You would be a different person growing up like these kids did
Posted on 3/14/25 at 4:41 pm to djsdawg
Nope. I have a 19 year old and 17 year old and they aren’t going to be bitching like this. Guaranteed.
Posted on 3/14/25 at 4:50 pm to RiverCityTider
Don’t compare medians and averages. Median vs median. Average vs average.
Posted on 3/14/25 at 5:11 pm to SquatchDawg
quote:
Don’t compare medians and averages.
A median IS an average.
Posted on 3/14/25 at 5:45 pm to LSUconvert
quote:Well. let's look.
Hey quick question. How many years median income was the median house in 1979?
Another quick question. How many years median income is the median house in 2025?
Thanks!
1974
Median HH Income: $11,100
Median Home Price: $35,900 (1560 sqft)
HomePrice-to-Income: 3.2
2024
Median HH Income: $80,610
Median Home Price: $357138 (2515 sqft)
HomePrice-to-Income: 4.4
2024 HomePrice-to-Income adjusted to 1974 home size: 2.6
So your answer is ... 3.2 x median income in 1974 vs 2.6 x median income in 2024
This post was edited on 3/14/25 at 5:47 pm
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