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re: The average US house now requires a salary of $106k-a-year - $50k more than in 2020
Posted on 3/5/24 at 5:13 pm to Grievous Angel
Posted on 3/5/24 at 5:13 pm to Grievous Angel
quote:
Is supply and demand broken? If people can't afford it...why aren't prices coming down?
Ask Blackrock, Vanguard, and State Street. Then talking to foreign nationals who are not so secretly buying up properties on behalf of their home country’s government.
0
Posted on 3/5/24 at 6:57 pm to Dairy Sanders
quote:
Depends on the profession and the individual’s learning style.
Obviously people have strengths and weaknesses. I'm in accounting and everything I've heard from many, many voices in the industry is remote training is hurting.
Posted on 3/5/24 at 7:23 pm to Tantal
quote:
It's more complicated than that. The major reason that they were so low is that the Boomers, our largest generation ever, were in their highest earning and lowest consuming years pre-retirement. The delta between their salaries and expenses was flooded into the market, creating a glut of capital looking for ANY investment that would provide some yield. Now that over half of the Boomers are retired, that capital has been taken out of the market and put into cash, money markets, and T-Bills, thus reducing the amount of capital available to lend. Lower capital volume + high demand = higher interest rates. Granted, government spending didn't help, but this is mostly a natural economic phenomenon.
This is exactly right but no one is going to listen to you. Much easier to just hate on boomers or politicians or banks. This will happen again with millennials when they pull their money out of the economy.
Posted on 3/5/24 at 7:34 pm to Tigerlaff
quote:
millennials when they pull their money out of the economy.
What money?
Posted on 3/5/24 at 7:38 pm to stout
quote:
Who are they going to sell to in order to cash all of that equity out if people can't afford it?
Plenty of ppl are buying. I mean there was 1.64tril in volume and estimates of 1.94 which is above average
But yes ppl that brag about equity is dumb when its not really yours till you sell/cash out
Posted on 3/5/24 at 7:43 pm to SDVTiger
50 year mortgage rates are going to become a thing. Already is in Scandinavia.
Posted on 3/5/24 at 7:53 pm to lynxcat
quote:
50 year mortgage rates are going to become a thing. Already is in Scandinavia.
3 year loans on cars used to be the norm. Then 5. Now you have people financing for 7 and 8 years.
I wouldn’t doubt in the next 5 years we move to 40 year loans.
Posted on 3/5/24 at 7:54 pm to fareplay
quote:
I guess you don’t live in hcol areas where mortgage is 10k+ a month Before you boomers say just buy starter home etc, those are starter level homes for decent district. Not everyone lives in rural Louisiana
I’d wager most people on this site don’t have a 10K mortgage. If you can’t afford to live somewhere, just move. We all know you have money, yet you cry like a bitch because it’s not enough money to be comfortable where you want to be. If this is real and not an act you need to get that stick out of your rich arse.
Posted on 3/5/24 at 8:01 pm to LaLadyinTx
quote:
If they can afford it, and many can, why should they choose to leave the home they love? Besides, most of them have paid off houses. I'm not leaving my paid off house until I can't walk up the stairs.
It probably has more to do with the fact that this country is becoming overpopulated. There’s too many damn people emigrating here illegally and legally. That exacerbates the demand for housing which skyrockets property values.
Posted on 3/5/24 at 8:04 pm to JasonDBlaha
quote:
fact that this country is becoming overpopulated.
bullshite
Posted on 3/5/24 at 8:06 pm to gizmothepug
We purchased a home back in 2016 w/my VA loan for 129K(It was a short sale). Our rate is 3.25%. And after we bought this house we rented out our old residence so we have owned 2 homes for 8 years and have owned a home since '09 when I was 28 and my wife was 29.
We have been lucky. But home ownership is getting ridiculous.
We have been lucky. But home ownership is getting ridiculous.
Posted on 3/5/24 at 8:08 pm to lynxcat
quote:
2020
50 year mortgage rates are going to become a thing. Already is in Scandinavia.
Why not would love a 50yr mortgage
Posted on 3/5/24 at 8:13 pm to stout
We need moar spending bills
Posted on 3/5/24 at 8:25 pm to notiger1997
How? Biden has been flying in 300,000 illegals in. That isn’t including the ones that have hopped the border.
Posted on 3/5/24 at 8:53 pm to JasonDBlaha
quote:
It probably has more to do with the fact that this country is becoming overpopulated
What do you think the vax was for?
Posted on 3/5/24 at 9:48 pm to JasonDBlaha
quote:
How? Biden has been flying in 300,000 illegals in. That isn’t including the ones that have hopped the border.
Those humans don’t count, until it comes to the time The Fed has to figure out how they can vote. Legally, illegally it doesn’t really matter.
Posted on 3/5/24 at 9:52 pm to gizmothepug
Rate is 5.1% and so happy I made the decision to buy. Can’t imagine rates today
Posted on 3/5/24 at 10:48 pm to stout
Biden’s America
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