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

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No...the real problem is #1 is barely attainable for a decent portion of the population. In most markets you aren't even getting a studio for under 1200

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You say there is a problem but how is this problem manifesting itself? Homeownership rates are roughly the same today as they were in 1980. And only about 4% lower than the peak about a decade ago. If it's so much harder how the frick is that number staying flat?

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Homeownership rates are roughly the same today as they were in 1980. And only about 4% lower than the peak about a decade ago. If it's so much harder how the frick is that number staying flat?

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I wouldn't expect the numbers to have moved that much when the run up in residential real estate is largely 2021 on forward. People sure as shite aren't selling if they're in a 3 percent mortgage.

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I wouldn't expect the numbers to have moved that much when the run up in residential real estate is largely 2021 on forward. People sure as shite aren't selling if they're in a 3 percent mortgage.

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You do realize you don't have to guess. A simple Google search will show you just how stable homeownership rate has been for like 50 years. So literally nothing you just said is relevant

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Again...the recency of it wouldn't move the numbers much

If home stay at the same affordability level home ownership will decrease

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The entire home argument from folks like you on this subject seems to be basically an article of faith based on nothing.

It would be like discovering that for the last 50 years the average number of people who owned a new cars stayed basically the same. And the car equivalent of Power Man showed up complaining about how much more difficult it is to buy a car today

But then we looked and discovered that while the rates stayed the same the average person in 1980 was buying a Toyota Corolla and the average person today was buying a BMW 5 Series.

Reality completely contradicts the argument. Not only do just as many people own homes today as ever have but they're buying nicer homes! Far nicer homes. Like not even close nicer homes

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You seem to be the one dreaming up fantasies here. Not me. The current affordability rates aren't sustainable over the long term.

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Oh spare me. I'm referring to what's actually happening in the real world. You might want to check what homeownership rates were before the 5% rates and the 4% rates. You'll discover they were largely stable. And again you're completely ignoring the fact that people aren't just buying the same kind of homes. They're buying exponentially better homes. I mean what the frick do you think the homeownership rate would be today if the typical new home was 1600 square feet with carpeted floors and no granite countertops! The only thing keeping the rate down where it is is the fact that the homes are so much fricking nicer. Home builders aren't stupid. They're building those homes because people want to and CAN buy them. But let's say the ability to buy the much nicer home slows and builders start building 1600 square foot homes. That would still keep the rate stable.

When you talk about a home from 1980 versus a home from today you're not even comparing the same fricking thing. It literally is like walking out of the BMW dealer bitching about how cheap you used to be able to get a Corolla for 30 years ago

What do you mean people dont want to sell their home on a 3-5% mortgage so they can take on a 7% on their new home

The national debt was well under a trillion in 1980. Boomers spent 35 trillion at the fed level, and trillions more at local and state. The whole "we had it tougher" spiel is old, they left everyone under the age of 45 a pile of shite

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The median price of a home was roughly 2x the median income. Today, it’s 6.5x the median income.

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Damn, I wonder how much someone would have to pay per month to buy my house. Perhaps 2x as much as I pay for a 2011 note?

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have a low to mid level manager that works in my office in Destin, and she is making under $65,900. She is in the process of buying a brand new townhome for $355,000 in south Walton.

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What is that % of her take home? 70%?

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The absolute fact is that the typical home being bought today is nicer and the rate of ownership has remained the same. And that friend didn't start with the low interest rates of the last 5 to 10 years. That's the fact you can't ignore it. And you can't explain it.

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You're just making things up. The bottom 3rd of existing homes have appreciated at a much faster clip than the middle and top 3rd. You know nothing about the facts of the situation. You're just doing your get off of my lawn routine because you're a loser.