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re: What is the income range for "middle class" per the board?
Posted on 9/27/17 at 2:49 pm to Taxing Authority
Posted on 9/27/17 at 2:49 pm to Taxing Authority
quote:
Are you suggesting over the last two decades there has been a new housing shortage?
Yes (for smaller affordable homes).
As you said, the average square footage of houses has increased with price.
Wouldnt that imply there are fewer smaller ft2 houses to choose from?
This post was edited on 9/27/17 at 2:52 pm
3
Posted on 9/27/17 at 2:53 pm to Taxing Authority
quote:
Have you shopped autos lately?
No. I dont buy new cars
. I also live in a city where few people drive.
Posted on 9/27/17 at 2:54 pm to NC_Tigah
quote:Yes. Millions of people live across the cities i'm referring to. If we take a step back from the petty "gotcha!" attempts you and shorty have been trying to make I think its fairly obvious that the question posed in the OP is heavily influenced by the economic conditions of the region any given person might reside in. In many cities (where a high percentage of professional job opportunities reside), there has been a large spike in housing prices while income levels grew at a more stable rate.
So in responding to my national observations, your "many areas" referred to dozens of exceptions? Is that your point?
Not sure what the big fuss is here.
Its really simple once you get past trying to be a dick on a message board. Posted on 9/27/17 at 2:54 pm to Taxing Authority
quote:
For the average family of 2.5 kids, I'd say yes.... 1500 ft2
Isnt what builders are building these days
Exactly my point. How are customers supposed to buy a product that most often doesnt exist?
Posted on 9/27/17 at 2:54 pm to ShortyRob
quote:
Good fricking God Americans are hopelessly economically ignorant.
I mean, it's an insurmountable problem.
USA Today , and the US Census Bureau, seem to disagree with you on wither housing prices have outpaced inflation, in just the last 17 years. Do you really want to argue that if you go back further this isn't the case?
LINK
Posted on 9/27/17 at 2:54 pm to ShortyRob
quote:I think we should start with geography. Garden district ain’t exactly middle class suburbia. Nor is NYC. But those are the two examples we’ve seen so far.
I'm trying to dumb it down to 100 level because
Posted on 9/27/17 at 2:54 pm to NYNolaguy1
quote:
Yes (for smaller affordable homes).
There are plenty, people are just too proud to live in the neighborhoods.
Posted on 9/27/17 at 2:56 pm to RogerTheShrubber
quote:
There are plenty, people are just too proud to live in the neighborhoods.
Sure. Anything is livable I suppose.
I guess there are some overpasses available for free too
. Posted on 9/27/17 at 2:57 pm to NYNolaguy1
quote:So its your position that builders... for 40+ years... have built homes their customers didn’t want and were undesirable? That a hell of an assertion.
Yes (for smaller affordable homes).
quote:It would if no new homes were built over that time, or we presume her home buyers have en
Wouldnt that imply there are fewer smaller ft2 houses to choose from?
Made for Four decades bought houses they don’t want against their will and against their best financial interests
This post was edited on 9/27/17 at 3:06 pm
Posted on 9/27/17 at 2:57 pm to Taxing Authority
quote:I used two examples actually. The lot I talked about that my parents sold for 150k cash is in Gentilly. They bought a large decent home on that lot originally for 80k.
Garden district ain’t exactly middle class suburbia
And yes, Garden District is not a middle class neighborhood. But I was using an example of a house in the garden district that a middle class family could have afforded 8-9 years ago that is now unattainable.
Posted on 9/27/17 at 2:58 pm to Taxing Authority
quote:
Garden district ain’t exactly middle class suburbia. Nor is NYC. But those are the two examples we’ve seen so far.
Thats certainly true.
Honestly I think you have valid points for most of America that doesnt live near any top 10 metro area across the US. NYC, or even its surrounding suburbia just exaggerates a lot of localized trends.
Posted on 9/27/17 at 2:59 pm to Taxing Authority
quote:The guy doesn't grasp that escalating prices of a product that is also becoming more feature rich and more widely sold is pretty the very definition of something becoming more economically affordable to more people.
I think we should start with geography
Geography just seems a bridge too far.
Posted on 9/27/17 at 2:59 pm to NYNolaguy1
quote:Get ready. When you buy your next used car... it’s going to have a lot broke “goodies” you don’t want or need
No. I dont buy new cars
Posted on 9/27/17 at 3:01 pm to Taxing Authority
City is planning a neighborhood of 1000-1200 sq ft houses locally and property owners are fighting it tooth and nail
Posted on 9/27/17 at 3:01 pm to HeyHeyHogsAllTheWay
quote:Sigh
USA Today , and the US Census Bureau, seem to disagree with you on wither housing prices have outpaced inflation, in
Posted on 9/27/17 at 3:01 pm to NYNolaguy1
quote:how are builders supposed to sell a product that their customers don’t want and can’t afford for > 40 years?
How are customers supposed to buy a product that most often doesnt exist?
The point you’re missing... there’s really only one way to drive the average size up.
This post was edited on 9/27/17 at 3:02 pm
Posted on 9/27/17 at 3:02 pm to Tigerdev
quote:
Look at the nola housing market in the last 4 years. The same houses, same square footage, same condition have skyrocketed in value.
quote:
New Orleans Home Prices & Values
ZILLOW HOME VALUE INDEX - $170,100
-1.4% 1-year change
None 1-year forecast
Jul 2016 - Aug 2017
MARKET TEMPERATURE ==> Very Cold
New Orleans home values = Buyers' Market
The median home value in New Orleans is $170,100. New Orleans home values have declined -1.4% over the past year. The median list price per square foot in New Orleans is $233, which is higher than the New Orleans Metro average of $133. The median price of homes currently listed in New Orleans is $289,000. The median rent price in New Orleans is $1,600, which is higher than the New Orleans Metro median of $1,450.
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in New Orleans is 0.0%, which is higher than the national value of 0.0%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages
LINK
Posted on 9/27/17 at 3:04 pm to Taxing Authority
quote:
how are builders supposed to sell a product that their customers don’t want and can’t afford for > 40 years?
It's like people think real estate exists in some vacuum where builders, due to no real drivers whatsoever, just started building bigger and bigger shite with more and more upgrades at virtually every level of their market. Just cause they were bored.
As if, at some point in the past, everyone wanted 1200 sf homes..........like millions of people........and they expressed no economic desire for different homes.......but the builders just said, "frick it........if we build it, they will come".
Posted on 9/27/17 at 3:04 pm to Tigerdev
quote:Millions in terms of 1% of 320 million? 2%? How many millions are you hinting at?
Yes. Millions of people live across the cities i'm referring to.
This post was edited on 9/27/17 at 3:05 pm
Posted on 9/27/17 at 3:04 pm to RogerTheShrubber
quote:Had a coworker in Houston tel me there was just no way he could ever buy a house that was more than five years old. I just laughed. My truck was 10 years old at the time
There are plenty, people are just too proud to live in the neighborhoods.
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