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VA, USA
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Posted: 4/24/2024 10:49:37 PM EDT
[#1]
Heck, I was in the "could not afford to buy where I live" position back in the 1980s. I had been in my DC suburb home for 10 years when the real estate prices skyrocketed. I stayed put while others were moving farther out to buy bigger. I finally cashed out in 2010.
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OK, USA
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Posted: 4/24/2024 10:56:47 PM EDT
[#2]
Quote HistoryOriginally Posted By Brutus_15: I’m in a very similar boat, and so are a lot of my peers. It’s a little demoralizing, did everything right, saved, and now I’ve pretty much given up and will play the wait and see game over the next few years. This is where my wife, and I are at now. We certainly aren’t perfect, but we made what should have been, and were traditionally good choices, but it feels like the goalposts have been moved. I think there was a 5-7 year window where we could have made different decisions that ultimately might have “made” us, but we missed the window because we would have had to make traditionally dumb decisions to do so. It’s honestly frustrating, and demoralizing, but we will continue to work diligently towards our goals. |
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OK, USA
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Posted: 4/24/2024 11:07:47 PM EDT
[#3]
Quote HistoryOriginally Posted By towgunner11H: If you can't see that the "Great Reset" globalist push is behind this, and that it's all deliberate, you are a moron. Just keep hollering " boomers did this" or "millenials did this" while these fucking globohomos sit back and laugh. Some day a real rain will come.... My issue with the “boomers” is that they refuse to admit the current state of things is an actual serious problem. They just deflect, and try to claim it was just as hard in their day. You are correct that there are very powerful people orchestrating what is happening, but the first step in fixing it is admitting there is a problem, and that can’t be done when certain people keep saying “kids are lazy these days, it was much harder in my day”. |
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OK, USA
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Posted: 4/24/2024 11:09:17 PM EDT
[#4]
Quote HistoryOriginally Posted By pestilence12: It's not hate. It's a statement of fact. Housing prices have skyrocketed. If you secured a mortgage for a home 15-25 years ago (when most millennials were still in high school), your home would be double, triple, or quadruple the value today (depending on area). Boomers are lucky they were in the market before this. Boomers I know will say "yeah the house was only 40k, but my interest rate was 12%! I got rejected for 2 mortgages before I finally got a house!". Yeah that's unfortunate and all, but at least there were houses for sale that you could actually afford with your current pay. That is not the case today. Also, if you did have to rent, it wasn't costing 40% of your fucking monthly income. I don't hate boomers. I hate the attitude that seems to come with them. "bootstraps, wasting money on cell phones and Netflix, get a better job, etc. etc.". Man, I DID ALL THAT. I lived poor as fuck from 18-28. I'm still not in a wealthy state. I have a little spending money now and then but man, shit is tight. I went to college, I believed all the lies. School grades -> college -> high paying job -> house, car, family. Bullshit. I'm not blaming boomers for the current situation, I'm blaming them for sitting smug and telling millennials that it's not that bad and to toughen up. It's BAD right now. Excellent posts You said it better than I did. |
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Posted: 4/24/2024 11:17:44 PM EDT
[#5]
Quote HistoryOriginally Posted By JLPettimoreIII: @Pro_Patria_431 did you get your little airstream, hammock, yeti cooler, and new used goodwill couch?   Attached FileFUCK YEAH! I'm living right my man! |
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Posted: 4/24/2024 11:19:22 PM EDT
[#6]
Quote HistoryOriginally Posted By Pro_Patria_431: https://www.ar15.com/media/mediaFiles/358054/1000006572_jpg-3197240.JPG FUCK YEAH! I'm living right my man! 
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Posted: 4/24/2024 11:21:30 PM EDT
[#7]
When the gubment is done, you will own nothing.
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Posted: 4/24/2024 11:22:09 PM EDT
[#8]
Quote HistoryOriginally Posted By JLPettimoreIII: i've seen the documentaries featuring dat couch. Quote HistoryOriginally Posted By JLPettimoreIII: Originally Posted By Pro_Patria_431: https://www.ar15.com/media/mediaFiles/358054/1000006572_jpg-3197240.JPG FUCK YEAH! I'm living right my man! They threw in the cooter juice for free!
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Posted: 4/24/2024 11:25:41 PM EDT
[#9]
Quote HistoryOriginally Posted By Pro_Patria_431: They threw in the cooter juice for free!
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MI, USA
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Posted: 4/24/2024 11:25:42 PM EDT
[#10]
There's only one way to fight back. Unite to stop paying federal and property taxes. Imagine if 200 million people stopped paying.
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Posted: 4/24/2024 11:26:23 PM EDT
[#11]
Quote HistoryOriginally Posted By DetroitSounds: There's only one way to fight back. Unite to stop paying federal and property taxes. Imagine if 200 million people stopped paying. |
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VA, USA
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Posted: 4/26/2024 3:19:04 PM EDT
[#12]
Quote HistoryOriginally Posted By miseses: Before covid I was almost able to buy a house with cash. Kept waiting thinking prices would drop. After covid prices exploded so much I had to just buy raw land and build a tiny house myself for cost of materials, because literally everything was gone and what little wasn't was 3x the price it was before. The fed really damned people with young expanding families by pinning interest rates near 0, guaranteeing an arms race to lock in all the housing for 30 years. You simply can't compete with somebody who has a mortgage with negative real interest rates, they'll never sell for less than a kings ransom. In effect they bifurcated the populace -- those who secured housing before or at the beginning of covid, and those who hadn't. It will take at least a decade before the bifurcation starts to wane. All this. To add, in fact we would be far better off if the rates were 19% versus 2%. Why? because lending / loaning / credit would be that much more difficult. Easy credit = higher prices. It's the usual libtard policy, focusing on short term effects. Ignoring long-term disaster. I recall the 1992 election. The main focus of it was the economy. Remember that one? The winning comrade in fact delivered on his key promises. Easy credit - meaning credit expansion. The housing boom really began then, in the mid 90's. By 2000's housing significantly went up - and kept going. Currently the rates on the street I hear are 10% and hopefully that will deflate the bubble but who the heck knows. Except the Fed that is. They can't raise the rates because that would raise the interest on the debt. It's damned if you do and damned if you don't. For you, that is. Not for the elites. They don't care about you. |
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VA, USA
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Posted: 4/27/2024 3:05:54 AM EDT
[#13]
Quote HistoryOriginally Posted By pestilence12: It's not hate. It's a statement of fact. Housing prices have skyrocketed. If you secured a mortgage for a home 15-25 years ago (when most millennials were still in high school), your home would be double, triple, or quadruple the value today (depending on area). Boomers are lucky they were in the market before this. Boomers I know will say "yeah the house was only 40k, but my interest rate was 12%! I got rejected for 2 mortgages before I finally got a house!". Yeah that's unfortunate and all, but at least there were houses for sale that you could actually afford with your current pay. That is not the case today. Also, if you did have to rent, it wasn't costing 40% of your fucking monthly income. I don't hate boomers. I hate the attitude that seems to come with them. "bootstraps, wasting money on cell phones and Netflix, get a better job, etc. etc.". Man, I DID ALL THAT. I lived poor as fuck from 18-28. I'm still not in a wealthy state. I have a little spending money now and then but man, shit is tight. I went to college, I believed all the lies. School grades -> college -> high paying job -> house, car, family. Bullshit. I'm not blaming boomers for the current situation, I'm blaming them for sitting smug and telling millennials that it's not that bad and to toughen up. It's BAD right now. This. And it is going to get worse. |
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Posted: 4/27/2024 3:26:27 AM EDT
[Last Edit: BlackTaco]
[#14]
We’ve been through this so many times…and every time, I can find homes exactly like our first home, priced exactly the same (with inflation and interest included). I’m Oregon Trail Millennial….
Within 30 miles of my AO, you can pick up an older home for $210K - yep, small as fuck, bad neighborhood, and probably needs a lot of work. Or, a brand fucking new condo, for $380K….. The TacoBell down the street starts at $20.00 hr, a couple could easily figure out how to afford either one, and walk 20min to work. Have a grocery store near by, share a cheap $3K civic. People these days just have too high of expectations, and don’t want to work. It’s insane. I bought one of the $400K units as a rental….my tenant, could easily of afforded to buy the same unit, he makes $80K year… but because he does Vegas every 3 months, wants a truck newer than mine, and wants to impress his girlfriend…he ends up renting from me. It’s sad, but people really don’t know how to prioritize. They just make excuses. These both sold last week. And this is an area where the average home cost is $650K…..which everyone always argues about “well average home cost is this, but I only make this” well guess what, if you want to make money, you start at the fucking bottom, and work your way up. Our first house, had the sink and tub from 1955, the year it was built.  Attached File Attached File |
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VA, USA
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Posted: 4/27/2024 3:27:57 AM EDT
[#15]
Quote HistoryOriginally Posted By Mall-Ninja: More bitching about how it’s SO HARD for young people today. My parents’ home isn’t their first house. Or even their second. There was a long line of houses that were bought/sold before it, as their careers progressed. what happened then has no relevance at all to what is happening now. It's a fallacy. |
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VA, USA
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Posted: 4/27/2024 3:31:30 AM EDT
[#16]
Quote HistoryOriginally Posted By miseses: I don't blame boomers for much of this, but they are responsible for the passing of zoning that made those first houses they bought impossible to build in many areas. Minimum sq ft requirements, ever more onerous codes, all while they grandfathered their own properties from being subject to the law they imposed on their children were a significant factor in making it impossible for some to get to step A in the progression. To build our DIY house, one commonly made by boomers small "craftsmen home" I literally had to find one of the few counties in the entire US that still allows that anywhere near civilization. And navigate the minefield of HOA/CC&Rs that boomers spoiled the title with, forever encumbering property with their demands. That's true. But the biggest factor in absurd RE prices is banks, ultimately the fed reserve system. I mean this is how the loan system works. They create funds to loan you to buy something out of thin air with very little to back it up. It's fractional reserve banking and the reserve requirement is near zero. Most people have no understanding how banks make their profit off the loans that are largely fictional. But you gotta slave away for 30 years to pay interest on a fictional amount which never existed in the first place. |
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VA, USA
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Posted: 4/27/2024 3:36:11 AM EDT
[#17]
Quote HistoryOriginally Posted By towgunner11H: If you can't see that the "Great Reset" globalist push is behind this, and that it's all deliberate, you are a moron. Just keep hollering " boomers did this" or "millenials did this" while these fucking globohomos sit back and laugh. Some day a real rain will come.... This |
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Posted: 4/27/2024 3:37:26 AM EDT
[#18]
Quote HistoryOriginally Posted By ad_nauseam: That's true. But the biggest factor in absurd RE prices is banks, ultimately the fed reserve system. I mean this is how the loan system works. They create funds to loan you to buy something out of thin air with very little to back it up. It's fractional reserve banking and the reserve requirement is near zero. Most people have no understanding how banks make their profit off the loans that are largely fictional. But you gotta slave away for 30 years to pay interest on a fictional amount which never existed in the first place. Which is why you don’t buy outside of your means. Only make $50K a year? Great - buy a $80K trailer in a park right now if that’s what it takes. Double the payment, pay it down over the years, and flip it into a $200K house. Do the same, double payment, pay it down, flip into a $300K home. This shit is not rocket science. I appreciate our tenants, but JFC. There are so many people out there paying $2000K month rent that could’ve afforded a home if they just played their cards right. And yeah, they, along with us all missed the boat during the 3% interest days. We bought 2 rentals then, should’ve bought 15. |
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Posted: 4/27/2024 3:37:40 AM EDT
[#19]
You never end up owning it anyway. Taxation is theft is theft is theft
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Posted: 4/27/2024 6:56:16 AM EDT
[#20]
Quote HistoryOriginally Posted By MHowski: I bought right after the housing market collapsed last time, no way I could buy it today. Same here. I live in Boise and it’s just insane where the housing prices are at today. No way my house is worth what they say it is on paper. The problem for me is I don’t intend to sell, so the price on paper means my property tax has doubled since I bought. At the rate property taxes are increasing, I’ll be taxed out of my home at some point. |
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USA
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Posted: 4/27/2024 7:25:36 AM EDT
[#21]
Quote HistoryOriginally Posted By ScopeScar: F the government that caused this. And the people that keep voting for it |
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MS, USA
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Posted: 4/27/2024 7:39:24 AM EDT
[#22]
Quote HistoryOriginally Posted By GenoGS: My issue with the “boomers” is that they refuse to admit the current state of things is an actual serious problem. They just deflect, and try to claim it was just as hard in their day. You are correct that there are very powerful people orchestrating what is happening, but the first step in fixing it is admitting there is a problem, and that can’t be done when certain people keep saying “kids are lazy these days, it was much harder in my day”. I'm a boomer and I will say housing prices are crazy today. For some examples, I'll use a couple of my former houses. In 1995, we built a house in Arnold, Maryland (across the river from Annapolis for $242,000. We sold it in 2001 for $410,000. Zillow has it valued at $970,000 today. In 2001, we bought a home in Pembroke Pines, FL, (Near Fort Lauderdale) for $300,000. We sold it in 2004 for $350,000. Zillow now has thus home valued at $1.2 million. We could not afford to buy either of those houses today. A person holding the same job today that I held when I bought them, couldn't buy them today. But, I do think expecting the government to fix this problem (or any other problem you have) is futile. It is not fair, but this is a problem that us going to have to be solved mostly on your own initiative. |
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USA
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Posted: 4/27/2024 8:55:20 AM EDT
[#23]
1980, bought a six year old mobile home and small lot, 19k on a land contract with 14% interest, 2% lower than prevalent rates in the area.
1989, bought a stick built home, 70k with a 10.5% conventional mortgage, prevalent rate was around 11%, got a break due to my employer. Wife worked full time, I worked a full time job plus a weekend 1099 job and also as a paid on call Firefighter. Each time the interest rates dropped until we sold that house we refinanced keeping our payments about the same but cutting the time. Started as a 30 year and when we sold it would have been around 18:years. Remember the Carter years, mid teen interest was commonplace. And can’t forget the Clinton years with the easing of mortgage underwriting aka everybody should have a house even if they can’t afford it. Remember the ten year interest only loans, balloon notes, teaser mortgage rates.. The Obama years crash and the mortgage crisis of those years. Plenty of enough places to place the blame. |
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WI, USA
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Posted: 4/27/2024 8:58:10 AM EDT
[Last Edit: JVD]
[#24]
I'm one of those damn millennials and I could barely afford my house 4 years ago when I bought it. No chance in hell now and I have a job that pays 50% more.
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Posted: 4/27/2024 9:10:39 AM EDT
[#25]
Quote HistoryOriginally Posted By ScopeScar: F the government that caused this. Quote HistoryOriginally Posted By ScopeScar: Originally Posted By Dano556x45mm: F the boomers. F the government that caused this. And who runs the government.   Attached File |
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Posted: 4/27/2024 9:41:48 AM EDT
[#26]
Quote HistoryOriginally Posted By Waldo: How many thousands of times have you heard "your home is not an investment"? Turns out, maybe it was. You're darn right it was. The home I bought at a single man in 2013 became the home my wife and I live in to this day. I can sell it and I'll double my money invested into it. We could still afford to buy it today if we wanted to. |
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Posted: 4/27/2024 11:23:17 AM EDT
[#27]
I'm pretty sure you could substitute "baby boomers" with "home owners", so what's the point?
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Posted: 4/27/2024 11:30:34 AM EDT
[#28]
Quote HistoryOriginally Posted By norseman1: Another anti-boomer thread It's all so tiring.gif Well duh, it's past your bedtime. |
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Posted: 4/27/2024 11:35:18 AM EDT
[#29]
Quote HistoryOriginally Posted By exponentialpi: And who runs the government. https://www.ar15.com/media/mediaFiles/200878/IMG_3852_jpeg-3199147.JPG I'm skeptical that changing to a younger demographic would improve things. Your chart is simplistic. |
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Posted: 4/27/2024 11:36:13 AM EDT
[#30]
Quote HistoryOriginally Posted By miseses: Before covid I was almost able to buy a house with cash. Kept waiting thinking prices would drop. After covid prices exploded so much I had to just buy raw land and build a tiny house myself for cost of materials, because literally everything was gone and what little wasn't was 3x the price it was before. The fed really damned people with young expanding families by pinning interest rates near 0, guaranteeing an arms race to lock in all the housing for 30 years. You simply can't compete with somebody who has a mortgage with negative real interest rates, they'll never sell for less than a kings ransom. In effect they bifurcated the populace -- those who secured housing before or at the beginning of covid, and those who hadn't. It will take at least a decade before the bifurcation starts to wane. Yes, but you won’t win an election with a faltering economy. It’s like the fed has a new wonder drug to fix economic downturns but are completely ignoring the severe side effects |
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Posted: 4/27/2024 2:00:11 PM EDT
[#31]
Quote HistoryOriginally Posted By TurtlesAlltheWayDown: Yes, but you won’t win an election with a faltering economy. It’s like the fed has a new wonder drug to fix economic downturns but are completely ignoring the severe side effects Quote HistoryOriginally Posted By TurtlesAlltheWayDown: Originally Posted By miseses: Before covid I was almost able to buy a house with cash. Kept waiting thinking prices would drop. After covid prices exploded so much I had to just buy raw land and build a tiny house myself for cost of materials, because literally everything was gone and what little wasn't was 3x the price it was before. The fed really damned people with young expanding families by pinning interest rates near 0, guaranteeing an arms race to lock in all the housing for 30 years. You simply can't compete with somebody who has a mortgage with negative real interest rates, they'll never sell for less than a kings ransom. In effect they bifurcated the populace -- those who secured housing before or at the beginning of covid, and those who hadn't. It will take at least a decade before the bifurcation starts to wane. Yes, but you won’t win an election with a faltering economy. It’s like the fed has a new wonder drug to fix economic downturns but are completely ignoring the severe side effects |
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GA, USA
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Posted: 4/27/2024 2:24:38 PM EDT
[#32]
There are 2 twenty yr old mobile homes on 2 acre lots a few miles away from me that have 250K asking prices....crazy
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Posted: 4/27/2024 6:05:13 PM EDT
[#33]
Quote HistoryOriginally Posted By housewolf: I'm pretty sure you could substitute "baby boomers" with "home owners", so what's the point? The point is to whine about people born prior to 1965. Endlessly whine. Nonstop. Like a circle of hell. The same way race hustlers bitch about white people and blame white people for every possible thing in the world. Boomertards simply took BLM tactics and loosely adjusted them for age instead of race. |
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CA, USA
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Posted: 4/27/2024 6:16:52 PM EDT
[#34]
duh
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MD, USA
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Posted: 4/27/2024 6:22:02 PM EDT
[#35]
So, naturally, some millennials will come along and say the Boomers are mean and selfish for hoarding all the housing, and the Booners need to sell them their houses at "reasonable" prices, whatever that is.
But the reason Boomer houses sell for so much is not because Boomers are bidding up the prices. Boomers are selling houses but it is the Gen X and Millenial generations who have the highest earning power and are buying houses at high prices. See data for income distribution at https://www.statista.com/statistics/825883/us-mean-disposable-household-income-by-generation/ We are Boomers who bought a house for $250k in 1995 (equivalent to $500k in 2024 dollars) and made over $500k in improvements over the last 30 years. We plan to sell, but do you think we should get less from it than we put into it? And there is a lot of sweat equity that doesn't appear on that balance sheet, too. Our mortgage is at 2.375%, so we do have a great situation. But we worked for it. |
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MD, USA
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Posted: 4/27/2024 6:27:26 PM EDT
[#36]
Quote HistoryOriginally Posted By Canoeguy: Half of baby boomers or more are retired. Maybe I am crazy but isn’t it typically accepted that you buy a home when you have the most income? The people bidding up the prices on houses are not the Boomers. It is the successful Millenials and Gen Xers. They have the income to do so. And they want a finished, turn-key operation like the one they grew up in. No interim houses, fixer-uppers, or starter homes for them. Five bedrooms. 3.5 baths, no "projects" for them. https://www.statista.com/statistics/825883/us-mean-disposable-household-income-by-generation/ |
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Posted: 4/27/2024 6:30:00 PM EDT
[#37]
Yeah, but it's about time you relinquished your possession of that house, and sell it to a millennial at your cost, and owner finance it at 2% interest rate. Or you must use your immeasurable influence with your boomer representatives to get them to reduce interest rates and make LLCs stop buying houses in America. You can do that, right?
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Posted: 4/27/2024 7:25:22 PM EDT
[#38]
Quote HistoryOriginally Posted By new_RRA_user: The people bidding up the prices on houses are not the Boomers. It is the successful Millenials and Gen Xers. They have the income to do so. And they want a finished, turn-key operation like the one they grew up in. No interim houses, fixer-uppers, or starter homes for them. Five bedrooms. 3.5 baths, no "projects" for them. https://www.statista.com/statistics/825883/us-mean-disposable-household-income-by-generation/ Bingo. First time home buyers are doing fine. People weren't making it during the boomer days, too. There just wasn't internet for the whiners to get such a broad audience for their whining. |
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MD, USA
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Posted: 4/27/2024 9:37:32 PM EDT
[#39]
Quote HistoryOriginally Posted By ExFed1811: I'm a boomer and I will say housing prices are crazy today. For some examples, I'll use a couple of my former houses. In 1995, we built a house in Arnold, Maryland (across the river from Annapolis for $242,000. We sold it in 2001 for $410,000. Zillow has it valued at $970,000 today. In 2001, we bought a home in Pembroke Pines, FL, (Near Fort Lauderdale) for $300,000. We sold it in 2004 for $350,000. Zillow now has thus home valued at $1.2 million. We could not afford to buy either of those houses today. A person holding the same job today that I held when I bought them, couldn't buy them today. But, I do think expecting the government to fix this problem (or any other problem you have) is futile. It is not fair, but this is a problem that us going to have to be solved mostly on your own initiative. Have the subsequent owners made any improvements since you sold them? Additions? Kitchen remodels? Bathroom remodels? |
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FL, USA
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Posted: 4/27/2024 10:04:58 PM EDT
[Last Edit: FMJshooter]
[#40]
It's going to concretize status for most. If you are a homeowner with parents that own a home you'll inherit you're freaking golden.
Those starting out are going to have to climb out the apartments and crack houses the way immigrants did back in the early 20th century, no easy thing without a post WWII economic boom. |
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CA, USA
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Posted: 4/27/2024 10:13:51 PM EDT
[#41]
GenXer here.
I couldn't afford my house if I had to buy it today. . paid $306,500 for my house in 1998$. 1,600,000 is what it would sell for in a week or so on the market. |
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USA
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Posted: 4/27/2024 10:14:46 PM EDT
[#42]
So renter mania.
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Posted: 4/27/2024 10:21:01 PM EDT
[#43]
Quote HistoryOriginally Posted By subjectofcalifornia: GenXer here. I couldn't afford my house if I had to buy it today. . paid $306,500 for my house in 1998$. 1,600,000 is what it would sell for in a week or so on the market. I was about to be like “wtf” till I looked at where you’re from. Values check out given state of residence. |
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USA
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Posted: 4/27/2024 10:45:39 PM EDT
[#44]
Millennial here.
We bought our house in 2018. It went from 350K to 575K in 6 years. For sure, would not have been able to buy our current house with the jobs we had back then with today's salaries for those jobs. If we had to do it today with our current salaries and jobs? My wife and I could swing it probably, but it wouldn't be comfortable. No we don't have fancy cars (1 car payment [60% paid off], the others are 10 to 15 years old, and long paid off). No we don't have student loans. No we don't go on extravagant vacations (all vacations are to either my parent's house, or hers, or our siblings). We don't own boats, or side by sides, or any other toy requiring debt. We don't do netflix. We keep our phones as long as possible. We don't eat out a bunch, or blow lots of money on entertainment. That said, we have enough money to buy what we want on a day to day basis, inflation for food hasn't really been painful for us (because we can easily absorb it, though I know its an opportunity cost that we can never get back), we aren't worried about home or car repairs, since we can cover them. If, we took our current way of life, and massively increased our house payment by buying the same house today, things would suck. Most discretionary spending would have to be cut, my range membership canceled, and would have no choice but to send the kids to public school, as both incomes would be 100% needed. We'd have to consider putting less into retirement, especially if an emergency came up. The reality is, we'd just have less. Not gonna lie. I feel bad for everyone who missed the boat due to bad timing. They are getting screwed. Who know what the hell my kids will be dealing with when its their time. I'm sure it will be much, much worse. |
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Posted: 4/27/2024 11:11:39 PM EDT
[#45]
Quote HistoryOriginally Posted By Canoeguy: Half of baby boomers or more are retired. Maybe I am crazy but isn’t it typically accepted that you buy a home when you have the most income? Yes. An article about a whole lot of nothing. A guy that bought his house in 1950 not being able to afford the same house in 2024 on his 1950 salary. Who would have thought. |
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TX, USA
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Posted: 4/27/2024 11:12:08 PM EDT
[Last Edit: tsg68]
[#46]
Hmmm, you mean values change? Pretty sure my folks house was worth alot more when they sold it vs when they bought it too.
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Posted: 4/27/2024 11:23:55 PM EDT
[#47]
Quote HistoryOriginally Posted By Canoeguy: Half of baby boomers or more are retired. Maybe I am crazy but isn’t it typically accepted that you buy a home when you have the most income? Yep….Youngest boomers are now 60 |
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Posted: 4/27/2024 11:45:29 PM EDT
[#48]
Quote HistoryOriginally Posted By Canoeguy: Half of baby boomers or more are retired. Maybe I am crazy but isn’t it typically accepted that you buy a home when you have the most income? ....and probably few major hospital bills..... I could do it, though happy I bought when I did. I agree with another poster though. After 2020 and FJB and green energy shit, housing and everything else has skyrocketed in price. Unless you changed jobs most are unlikely to keep up with real inflation. This wasn't just caused by FJB though. Congress and everyone else crippling this country should be held accountable for the BS in the past 4 years minimum. |
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Posted: 4/27/2024 11:50:59 PM EDT
[#49]
Quote HistoryOriginally Posted By Mall-Ninja: More bitching about how it’s SO HARD for young people today. My parents’ home isn’t their first house. Or even their second. There was a long line of houses that were bought/sold before it, as their careers progressed. The first house my dad bought after his bankruptcy, for $75,000, sold recently for $670,000. Had it simply kept up with inflation it would have been $214,000. He bought it two and a half years after his bankruptcy. In that whole county there are 7 houses that aren’t manufactured for sale for less than $350,000 and they are 2/1s in sketchy neighborhoods. Which is a problem now because the age at which people buy first houses is growing steadily and it’s impacting the birth rate. |
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Posted: 4/27/2024 11:53:32 PM EDT
[#50]
Quote HistoryOriginally Posted By redfish86: The government caused homes to increase in value? Hasn’t real estate historically done that all on its own? The bidding wars where the Gov handed out checks all year long helped this happen. After getting out bid by 87 homes you finally say fuck it and outbid everyone else....well unless you were at the price point of living in a cardboard box anyway. Then you just take your ball and go home or have a different plan. |
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