Log In

Your email is not your username

Register

If you were a member of the old Bodybuilding.com forums and would like to reuse your previous username, you can request it below. We use your email only for registration and do not store it. For more information, please see our Privacy Policy.

Confirm your email

A registration code was sent to your email. Enter it here.

Welcome

You have successfully setup your account.

Sign in

Quick Navigation Bottom Misc
Forum » It was actually more expensive for a person to buy a house in 1990 compared to now
  1. Results 1 to 30 of 92
  2. Page 1 of 4
  3. 1
  4. 2
  5. 3
  7. Last

Thread: It was actually more expensive for a person to buy a house in 1990 compared to now

post 1613272141 08-11-2020, 05:47 PM
-
#1
  1. DavidEaslea
  2. Registered
  1. DavidEaslea
  2. Registered
  3. Join Date: Apr 2020
  4. Posts: 8,849
  5. Rep Power: 6645

It was actually more expensive for a person to buy a house in 1990 compared to now

In 1990 they had to pay 54% of their income to pay off the loan compared to only 44% today.
A mans penis is worth two in the bush.
post 1613272231 08-11-2020, 05:48 PM
-
#2
  1. DizzySmalls
  2. Fast Misc
  1. DizzySmalls
  2. Fast Misc
  3. Join Date: May 2012
  4. Location: United States
  5. Posts: 23,894
  6. Rep Power: 82068
What a time to be alive OP
post 1613272531 08-11-2020, 05:51 PM
-
#3
  1. BigDeeps01
  2. Registered User
  1. BigDeeps01
  2. Registered User
  3. Join Date: Sep 2019
  4. Age: 56
  5. Posts: 26,735
  6. Rep Power: 169715
But but but I need excuses for my mediocrity OP!
post 1613273381 08-11-2020, 06:01 PM
-
#4
  1. DavidEaslea
  2. Registered
  1. DavidEaslea
  2. Registered
  3. Join Date: Apr 2020
  4. Posts: 8,849
  5. Rep Power: 6645
Originally Posted By BigDeeps01⏩
But but but I need excuses for my mediocrity OP!
They're brainwashed.
A mans penis is worth two in the bush.
post 1613273421 08-11-2020, 06:01 PM
-
#5
  1. DizzySmalls
  2. Fast Misc
  1. DizzySmalls
  2. Fast Misc
  3. Join Date: May 2012
  4. Location: United States
  5. Posts: 23,894
  6. Rep Power: 82068
But who was link!
post 1613274101 08-11-2020, 06:10 PM
-
#6
  1. Zere0wn
  1. Zere0wn
  3. Join Date: Jun 2006
  4. Posts: 11,740
  5. Rep Power: 43819
you cherry picking a certain year, or just making stuff up?
My ALT is elevated. 75.
post 1613274211 08-11-2020, 06:11 PM
-
#7
  1. expert701
  2. Registered User
  1. expert701
  2. Registered User
  3. Join Date: Jul 2018
  4. Posts: 4,162
  5. Rep Power: 25344
the fake news threads are fake
- lord and saviour of the trap
- TRUMP CREW 4 LYF
age 24 AP4 crew
post 1613274461 08-11-2020, 06:14 PM
-
#8
  1. Zere0wn
  1. Zere0wn
  3. Join Date: Jun 2006
  4. Posts: 11,740
  5. Rep Power: 43819
"
On average, millennials need to save 6.4 years’ worth of their total annual pay to afford a down payment on a home. That’s because today, the median home listing price in the U.S. is $289,000, according to Zillow. Newly constructed houses are even pricier: The median cost of a new home in the U.S. is about $312,800, according to data collected by the U.S. Census Bureau.

In comparison, the average Gen Xer and baby boomer needed to save about 5.6 years’ worth of their overall income for a down payment, which means millennials need to put away about 15% more than previous generations to afford a home.
"
https://www.cnbc.com/2019/09/26/buyi...%20instability.
My ALT is elevated. 75.
post 1613275361 08-11-2020, 06:23 PM
-
#9
  1. Destor
  2. Registered User
  1. Destor
  2. Registered User
  3. Join Date: Apr 2012
  4. Location: Alberta, Canada
  5. Age: 41
  6. Posts: 43,481
  7. Rep Power: 254906
OP is a top tier troll, totally underrated
post 1613276121 08-11-2020, 06:33 PM
-
#10
  1. headturner1
  2. User title
  1. headturner1
  2. User title
  3. Join Date: Jan 2012
  4. Location: Washington, United States
  5. Age: 18
  6. Height: 6'5"
  7. Weight: 282 lbs
  8. Posts: 22,839
  9. Subscribers: 9
  10. Rep Power: 318202
Originally Posted By Destor⏩
OP is a top tier troll, totally underrated
Agreed. Very underrated.















A massively underrated *******
post 1613276631 08-11-2020, 06:38 PM
-
#11
  1. 78novacaine
  2. Registered User
  1. 78novacaine
  2. Registered User
  3. Join Date: Jan 2019
  4. Posts: 15,477
  5. Rep Power: 176552
Originally Posted By Zere0wn⏩
"On average, millennials need to save 6.4 years’ worth of their total annual pay to afford a down payment on a home. That’s because today, the median home listing price in the U.S. is $289,000, according to Zillow. Newly constructed houses are even pricier: The median cost of a new home in the U.S. is about $312,800, according to data collected by the U.S. Census Bureau.

In comparison, the average Gen Xer and baby boomer needed to save about 5.6 years’ worth of their overall income for a down payment, which means millennials need to put away about 15% more than previous generations to afford a home.
"
https://www.cnbc.com/2019/09/26/buyi...%20instability.
The wording here is throwing me for a fukking loop. It says people are needing to save 6.4 years of their total annual income for a down payment on a $300k home? Assuming 20% down that would put their annual income at <$10k... You would make more than that working 20 hours a week @ $10/hour...
Permabulk/bloatlord Crew
Tradie Crew
HTC
post 1613277031 08-11-2020, 06:43 PM
-
#12
  1. Adam16121
  2. Registered User
  1. Adam16121
  2. Registered User
  3. Join Date: Apr 2017
  4. Age: 41
  5. Posts: 20,009
  6. Rep Power: 314711
We had higher interest loans, and lower home prices. Meaning, if you had half a brain, you could pay a much larger percent of the home price upfront, and end up not paying much from the interest long term. Massively lowering the principle is significantly more effective than lowering the interest rate by a few points. Net win in 1990 compared to today, especially when you factor in the soaring rent costs/overall COL in many areas with good job prospects today, which make it even harder to have a large down payment saved up. And thats assuming you were very prudent about not getting into student loan debt.
post 1613281571 08-11-2020, 07:34 PM
-
#13
  1. Aristotelian
  2. Positive Mental Attitude
  1. Aristotelian
  2. Positive Mental Attitude
  3. Join Date: Jun 2017
  4. Posts: 12,849
  5. Rep Power: 263689
LOL at the cope.
post 1613281691 08-11-2020, 07:35 PM
-
#14
  1. Johnez
  2. Registered User
  1. Johnez
  2. Registered User
  3. Join Date: Jul 2019
  4. Age: 56
  5. Posts: 12,771
  6. Rep Power: 87772
Originally Posted By Anachron⏩
Please take a look at interest rates then, and now.
His post had nothing to do with interest rates.
Virtue is its own reward.
post 1613283321 08-11-2020, 07:57 PM
-
#15
  1. Jasonw1178
  2. 5'3" 300lbs Fudge Rounds
  1. Jasonw1178
  2. 5'3" 300lbs Fudge Rounds
  3. Join Date: Dec 2012
  4. Posts: 44,104
  5. Rep Power: 271274
Down payment is 3% today. Was 20% down. Not to mention interest rates were so much higher. Credit was so much more strict.
post 1613283581 08-11-2020, 08:00 PM
-
#16
  1. Destor
  2. Registered User
  1. Destor
  2. Registered User
  3. Join Date: Apr 2012
  4. Location: Alberta, Canada
  5. Age: 41
  6. Posts: 43,481
  7. Rep Power: 254906
Originally Posted By headturner1⏩
Agreed. Very underrated.

A massively underrated *******
That too breh, he can handle a big veiny one. Don’t ask how I know
post 1613283981 08-11-2020, 08:05 PM
-
#17
  1. Aristotelian
  2. Positive Mental Attitude
  1. Aristotelian
  2. Positive Mental Attitude
  3. Join Date: Jun 2017
  4. Posts: 12,849
  5. Rep Power: 263689
Originally Posted By Anachron⏩
Which is the piece of the puzzle all the copers in this thread are missing.

Edit : Buying a median house in the US in 1990 would cost ~$1250/month in today's dollars after 20% down ( assuming 10% interest rate - which would be low for 1990 ).

Buying a median house today costs ~$1100/month after 20% down ( and I used 4% interest rate, which I think is rather chitty ).

And I even rounded down for 1990, and up for today.
And since everyone on the Misc thinks 100k net p.a is a joke of an income, I'm really confused as to why anyone on this forum cries about property prices.
post 1613284071 08-11-2020, 08:07 PM
-
#18
  1. yeshli2nuts
  2. Registered User
  1. yeshli2nuts
  2. Registered User
  3. Join Date: Jul 2010
  4. Location: Florida, United States
  5. Age: 38
  6. Posts: 9,269
  7. Rep Power: 50332
Originally Posted By Zere0wn⏩
"On average, millennials need to save 6.4 years’ worth of their total annual pay to afford a down payment on a home. That’s because today, the median home listing price in the U.S. is $289,000, according to Zillow. Newly constructed houses are even pricier: The median cost of a new home in the U.S. is about $312,800, according to data collected by the U.S. Census Bureau.

In comparison, the average Gen Xer and baby boomer needed to save about 5.6 years’ worth of their overall income for a down payment, which means millennials need to put away about 15% more than previous generations to afford a home.
"
https://www.cnbc.com/2019/09/26/buyi...%20instability.
- $289,000 home
- 20% down payment
- $57,800 needed for down payment
- Needing 6.4 years' worth of total annual pay to save that would mean you are making just over $9,000 a year

Fact is, millennials can easily save to buy a house after a few years of renting if they just learned how to make better financial decisions.
Never neg first but always neg back crew
post 1613284221 08-11-2020, 08:09 PM
-
#19
  1. FrankCostanza
  2. Serenity Now!
  1. FrankCostanza
  2. Serenity Now!
  3. Join Date: Sep 2019
  4. Posts: 17,091
  5. Rep Power: 48469
Originally Posted By DavidEaslea⏩
In 1990 they had to pay 54% of their income to pay off the loan compared to only 44% today.
You’re retarded. My original childhood home 30 years ago cost 340. It’s now worth 1.5mm

Sadly for the working class the Home with the picket fence is not a given if you work hard. I had to be the boss to make great money. Would I buy my childhood home? **** no. 1.5 mm for a house next to a park is retarded.
I'm not here for rage. I'm here for revenge!
Anti Covid VAX Superhero
Mein power
Mein pleasure
Mein pain
Trump 2020
Trump 2024
post 1613293351 08-11-2020, 10:15 PM
-
#20
  1. BigDeeps01
  2. Registered User
  1. BigDeeps01
  2. Registered User
  3. Join Date: Sep 2019
  4. Age: 56
  5. Posts: 26,735
  6. Rep Power: 169715
Originally Posted By Aristotelian⏩
And since everyone on the Misc thinks 100k net p.a is a joke of an income, I'm really confused as to why anyone on this forum cries about property prices.
Puzzling isn't it?
post 1613293601 08-11-2020, 10:18 PM
-
#21
  1. ocelo7
  2. Registered User
  1. ocelo7
  2. Registered User
  3. Join Date: Nov 2012
  4. Age: 34
  5. Posts: 2,258
  6. Rep Power: 8244
Depends on where you live.
/\^/\^Misc Colorado Crew^/\^/\
post 1613294251 08-11-2020, 10:26 PM
-
#22
  1. aaron501
  1. aaron501
  3. Join Date: Apr 2012
  4. Location: Land of the free, Home of the uglys, United Kingdom (Great Britain)
  5. Posts: 13,020
  6. Rep Power: 40998
im calling bull on that opie, mum and dad bought their house, a 3 bedroom terraced for £22k in 1998

now it's value is 170k
post 1613294461 08-11-2020, 10:27 PM
-
#23
  1. 5x10
  2. Banned
  1. 5x10
  2. Banned
  3. Join Date: Apr 2007
  4. Age: 47
  5. Posts: 49,580
  6. Rep Power: 0
Interest rates are inverse of home prices
The higher the rate, the lower the price
Dallas Cowboys

Lifted for 30 years

Ass > tits
No Debt Crew
post 1613295381 08-11-2020, 10:41 PM
-
#24
  1. ErnieMccracken
  1. ErnieMccracken
  3. Join Date: Nov 2013
  4. Posts: 100,062
  5. Rep Power: 330290
This is the dumbest stat that I hear repeated. It completely ignores job markets and mass migration to cities.

Yes, you can still buy a house in bummfukk nowhere for not that much, but good luck finding an affordable house in any major city that actually has jobs.
post 1613295481 08-11-2020, 10:42 PM
-
#25
  1. multiplemiggs
  2. P E R V E R T
  1. multiplemiggs
  2. P E R V E R T
  3. Join Date: Nov 2019
  4. Posts: 57,385
  5. Rep Power: 568972
Originally Posted By FrankCostanza⏩
You’re retarded. My original childhood home 30 years ago cost 340. It’s now worth 1.5mm

Sadly for the working class the Home with the picket fence is not a given if you work hard. I had to be the boss to make great money. Would I buy my childhood home? **** no. 1.5 mm for a house next to a park is retarded.
This
Average home price around here was around 85 to 120k in the late 90's same places are now going for 250 to 350k.
This is just average places with about 1/6 acre town lot and a 50 year old house.
Nothing to see 900k+ either. Average income around here is 56k.
SPOT SOLD TO FROGTECH - 100% NATURAL GENETIC FROG FIBRES

see Krackerjacked's sig

never underestimate the slootiness of a sloot
-DrugsToGetBig

ratchet girls love the ebt flex
-havoc00
post 1613295521 08-11-2020, 10:43 PM
-
#26
  1. Nightdic
  2. Registered User
  1. Nightdic
  2. Registered User
  3. Join Date: Jan 2012
  4. Age: 36
  5. Posts: 1,015
  6. Rep Power: 7870
I’m just using my unemployment money to pay my mortgage
Can’t stump the Trump
LTC Crew
6’2” master race
post 1613295871 08-11-2020, 10:47 PM
-
#27
  1. jakobi
  2. Registered User
  1. jakobi
  2. Registered User
  3. Join Date: May 2004
  4. Location: vancouver, bc, Canada
  5. Posts: 11,150
  6. Rep Power: 15196
houses were cheap back then.....
now it's like 3-4x more....
post 1613296881 08-11-2020, 11:05 PM
-
#28
  1. GiveMeTheD
  2. No homo...
  1. GiveMeTheD
  2. No homo...
  3. Join Date: Jul 2013
  4. Posts: 6,554
  5. Rep Power: 18784
Average house price in the UK in 1990, adjusted for inflation 121k (Actual house price, 54k)

Average house price in UK now, 231k.

What a fcking joke.
post 1613312611 08-12-2020, 06:32 AM
-
#29
  1. Aristotelian
  2. Positive Mental Attitude
  1. Aristotelian
  2. Positive Mental Attitude
  3. Join Date: Jun 2017
  4. Posts: 12,849
  5. Rep Power: 263689
Originally Posted By multiplemiggs⏩
This
Average home price around here was around 85 to 120k in the late 90's same places are now going for 250 to 350k.
This is just average places with about 1/6 acre town lot and a 50 year old house.
Nothing to see 900k+ either. Average income around here is 56k.
You mean...because my parents' house now sells for 8 figures, this negates all the properties I currently own?

Huh. Guess I should start crying that life is unfair too.
post 1613317451 08-12-2020, 07:57 AM
-
#30
  1. rootcon
  2. Registered User
  1. rootcon
  2. Registered User
  3. Join Date: Feb 2006
  4. Posts: 8,904
  5. Rep Power: 25349
Originally Posted By Anachron⏩
Which is the piece of the puzzle all the copers in this thread are missing.

Edit : Buying a median house in the US in 1990 would cost ~$1250/month in today's dollars after 20% down ( assuming 10% interest rate - which would be low for 1990 ).

Buying a median house today costs ~$1100/month after 20% down ( and I used 4% interest rate, which I think is rather chitty ).

And I even rounded down for 1990, and up for today.
Payments is the worst way to buy things. Puts you into slave servitude as you spend your life owing people. Then you pay way more in total money (principle) over the long run. While drowning in debt and never being able to have any financial freedom.

Although things are skewed now a days due to the Fed's central planning of interest rates. For the last decade or so its been advantageous to divert money into the stock market vs paying off mortgages or saving due to interest rates. People are also making huge amounts of money because of asset appreciation in housing (mainly due to supply will forever be low because no new land is created, just subdivided).

But despite all that, I think the stock market is nearing a top and has had its run and paying down mortgages as much as possible with dispensable income makes more sense. The prudent thing to do is ignore the minimum payments and look at principle.
Quick Navigation Top Misc
Bookmarks
Digg.com
Digg
del.icio.us
del.icio.us
Stumbleupon.com
StumbleUpon
Google.com
Google
Facebook.com
Facebook
Posting Permissions
  1. You may not post new threads
  2. You may not post replies
  3. You may not post attachments
  4. You may not edit your posts