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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 9:25 am to TDsngumbo
Posted on 3/5/24 at 9:25 am to TDsngumbo
quote:
I’m infuriated on behalf of my children. frick democrats, man. Just frick them all with a giant AIDS dick in the sand without lube.
It's not just Dems dude, Republicans want to spend shite tons of your money as well on useless wars.
1
Posted on 3/5/24 at 9:27 am to stout
Hell my house is paid off and I still feel like we need a household income of at least $100k for a family of five just to get by. Hell $20k goes to insurance premiums right off the top.
Posted on 3/5/24 at 9:27 am to Jcorye1
quote:
It's not just Dems dude, Republicans want to spend shite tons of your money as well on useless wars.
Classical economics teaches that you dont overspend in good economic times.
Trumps economics were no different than Obamas and both spent our kids and grandkids into the gutter.
I have no clue how this can work out with any "soft" landing. There has to be a settling.
Theyre protecting investors at all costs.
Posted on 3/5/24 at 9:29 am to stout
Completely unsustainable.
They will either have to offer 35 and 40 year mortgages or prices will have to correct.
They will either have to offer 35 and 40 year mortgages or prices will have to correct.
Posted on 3/5/24 at 9:29 am to Jcorye1
quote:
I bought a home fully knowing it's probably overvalued by like 30k or so. The risk of housing going absolutely insane with politicians calling it a right, combined with the fact I'd be paying rent anyways, was worth the risk.
We got lucky and have a ton of equity. Bought way under the market because I bought a storm-damaged house. We were going to flip it and build on some land I bought years ago but even as a contractor, I am not doing that any time soon. They will have to pry me out of this house and force me to take on a mortgage at today's rates.
The only thing left is to replace the windows on this house and it is all brand new. The window quotes I have gotten so far are all around $30K no labor. I am waiting hoping it comes down as demand slows.
Posted on 3/5/24 at 9:30 am to BamaCoaster
quote:
Does anyone think this will help with marriage rates and keeping ppl together?
Roommates, baw. If I were a single man in this current culture, I'd let one of my buddies move in and pay rent rather than getting a wife.
Posted on 3/5/24 at 9:30 am to stout
LOL isnt the household median income 60 something K?
WERE frickED
WERE frickED
Posted on 3/5/24 at 9:31 am to bayoudude
quote:
Hell $20k goes to insurance premiums right off the top.
I was just regretting selling off my Louisiana properties until you reminded me of this problem.
Posted on 3/5/24 at 9:31 am to stout
quote:
The average US house now requires a salary of $106k-a-year - $50k more than in 2020
Posted on 3/5/24 at 9:32 am to stout
Posted on 3/5/24 at 9:33 am to Jcorye1
Yup I am the guy reminding you youngsters America had interest rates held way to low for way to long for politicians to buy votes …
.. we were buying house right out of college with rates in the low to mid teens.. but making our own coffee at home…
Btw my stock portfolio is at all time high and fixed income providing a stream of income finally.
.. we were buying house right out of college with rates in the low to mid teens.. but making our own coffee at home…
Btw my stock portfolio is at all time high and fixed income providing a stream of income finally.
Posted on 3/5/24 at 9:33 am to 50_Tiger
quote:
The national median household income is $74,580
So theres quite frankly a lot of people who are 25k or WORSE away from housing affordability
Posted on 3/5/24 at 9:33 am to stout
quote:
We got lucky and have a ton of equity. Bought way under the market because I bought a storm-damaged house. We were going to flip it and build on some land I bought years ago but even as a contractor, I am not doing that any time soon. They will have to pry me out of this house and force me to take on a mortgage at today's rates.
The only thing left is to replace the windows on this house and it is all brand new. The window quotes I have gotten so far are all around $30K no labor. I am waiting hoping it comes down as demand slows.
This is pretty much where we're at (still want to replace siding and windows here and holding off for similar reasons). When we bought the house in 2020, the intention was to stay here about 10 years and then move into something else. At this point though, we're likely staying awhile and just modifying what we have.
Posted on 3/5/24 at 9:36 am to 50_Tiger
quote:
LOL isnt the household median income 60 something K? WERE frickED
Why? Given that 63% of employed people couldn’t cover a 500 dollar emergency without borrowing money, I’m going to say most people shouldn’t own a home.
Posted on 3/5/24 at 9:36 am to BamaCoaster
quote:
Does anyone think this will help with marriage rates and keeping ppl together?
Interesting question. I do think the significant increase in divorce rates over time has driven up our housing prices over previous decades. There are far more single parent households than previously. This is expanding the demand for housing past the population growth rate
I don’t see that type of common sense keeping families together though. People are too stupid and selfish for that
Posted on 3/5/24 at 9:36 am to RogerTheShrubber
quote:
Trumps economics were no different than Obamas and both spent our kids and grandkids into the gutter.
Your TDS really needs to get looked at. Obama in his first term spent like crazy relative to Trump, and just about anyone else. Trump's spending looks bad because of covid. If you want to hold the pandemic against him, more power to you I guess.
V3erifiable fact, downvoted almost immediately
This post was edited on 3/5/24 at 9:38 am
Posted on 3/5/24 at 9:38 am to stout
Man millennials and gen z really got fricked over. Much harder for them than previous generations.
But hey, hard times create strong men. The next US golden age will come off the backs of millienials and zoomers.
But hey, hard times create strong men. The next US golden age will come off the backs of millienials and zoomers.
Posted on 3/5/24 at 9:41 am to 50_Tiger
quote:
So theres quite frankly a lot of people who are 25k or WORSE away from housing affordability
Even mobile homes are ridiculous. A single wide used to be a great alternative someone could get into under $30K to start out life in. Now they are $60K+. Factor in land, permits, and sewer and you are over $100K
A new one set up in a park here in LC is $80K plus lot rent of like $200. It's all insane.
Posted on 3/5/24 at 9:42 am to stout
But if we just cut out Starbucks and Netflix, we could work our way thru college and buy a house with 70% down payment.
Posted on 3/5/24 at 9:43 am to Odysseus32
quote:
My opinion, just based on knowing the share of folks I do who are in their late 60s - early 80s, is that they will burn all of the money they have left kicking and screaming before downsizing homes.
Boomers being selfish and overconsuming housing? I'm shocked.
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