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08-13-2024, 04:58 PM
#121
Where is the best state to move to?
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08-13-2024, 05:25 PM
#122
Originally Posted By Orion1818⏩
I don't know how it's ethical.
The median house in america is 400-450K. At a 7-8% rate, that's about a 3000-4000 payment. This is a median house, not some mansion. Where I live, there are dumpy places that are very old for 350K. You're talking about a 1500 square foot place that's almost 3k a month
the median income in america is 70-80k a year. For people under 40, it's more like 60-70k. That's about 4k a month income post taxes
Literally the median house in america is about the same cost as the median income for young people. How the hell is this sustainable?
the median income in america is 70-80k a year. For people under 40, it's more like 60-70k. That's about 4k a month income post taxes
Literally the median house in america is about the same cost as the median income for young people. How the hell is this sustainable?
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08-13-2024, 08:25 PM
#123
Originally Posted By guest89⏩
^
Interest rates won't stay that high forever
Originally Posted By WoofieNugget⏩
People are still under the delusion that interest rates are high. Interest rates never should have dipped below about 4%, and should remain at least there between about 5-8% forever. The free money they were giving away is what caused all the problems. If you want a stable economy, at least.
Originally Posted By Orion1818⏩
Came to post these.
interest rates are normal compared to historical records, prices are absolutely outrageous
Today's interest rates aren't bad, and they are especially good given that our government is a giant credit risk. There's nothing high about mortgage rates… prices are what's in phuckin la la land.
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08-13-2024, 08:33 PM
#124
Originally Posted By r32gojirra⏩
In my opinion, economic growth not keeping up with projections is the #1 reason why the economy is fukked up right now.
Yes but over time economic growth SHOULD see growth in productivity which is translated into growth in real incomes
I found this graph on the internet that is just phuckin fascinating. US economic growth for the past 25 years is about as poor as it's ever been, outside of the Depression.
https://www.crestmontresearch.com/do...-By-Decade.pdf
On the bottom pic, you'll see an average of economic growth from 1950-1999. That is the assumption that we budgeted city pensions and the Iraq War and the Obama bailouts and all this other bullchit based on. And then you see how much the actual growth from 2000-2023 has undershot that. We're paying out a government budget built on A while taking in tax revenues based on B.
Spoiler!
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08-13-2024, 08:46 PM
#125
Originally Posted By r32gojirra⏩
I understand. I’m just saying we can’t all become 10k/day ceos. These pleb jobs need to be filled, and it’s ridiculous to suggest these people don’t deserve something. I’m not talking about fast food employees. But somebody has to be the secretary, and the garbage man, and work at the hardware store and the idea of homeownership to these people is now just a fantasy. That shouldn’t be the case. Those of us that were making it are now stuck in our starter homes because they’re cheap, and if you’re not in already you’re fuked. This isn’t the way to a prosperous nation, because at some point more people than we can support are going to decide working isn’t worth it when they can’t afford dik and people on government assistance have an equal lifestyle just without doing anything
Yes but over time economic growth SHOULD see growth in productivity which is translated into growth in real incomes
Now ofc in the short run that has not occurred but today’s welfare recipients have a higher quality of life and life expectancy than a monarch from pre-industrial revolution
Now ofc in the short run that has not occurred but today’s welfare recipients have a higher quality of life and life expectancy than a monarch from pre-industrial revolution
08-13-2024, 09:00 PM
#126
Originally Posted By Vhagar⏩
thats true. misc acts like every person can just become $10k/CEO. about 70% of households earn under $100k…and many of those like you said have people filling jobs we need the most…cops, firefighters, emts, teachers, garbage men, roadcrew workers, construction laborers, warehouse workers, walmart stockers, etc. my grandfather was a cotton mill worker with no high school degree…went to war, came home, bought a new house in a mill village, had 4 kids, a car and stay at home wife.
I understand. I’m just saying we can’t all become 10k/day ceos. These pleb jobs need to be filled, and it’s ridiculous to suggest these people don’t deserve something. I’m not talking about fast food employees. But somebody has to be the secretary, and the garbage man, and work at the hardware store and the idea of homeownership to these people is now just a fantasy. That shouldn’t be the case. Those of us that were making it are now stuck in our starter homes because they’re cheap, and if you’re not in already you’re fuked. This isn’t the way to a prosperous nation, because at some point more people than we can support are going to decide working isn’t worth it when they can’t afford dik and people on government assistance have an equal lifestyle just without doing anything
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08-13-2024, 09:02 PM
#127
Originally Posted By eddiehaskell⏩
thats true. misc acts like every person can just become $10k/CEO. about 70% of households earn under $100k…and many of those like you said have people filling jobs we need the most…cops, firefighters, emts, teachers, garbage men, roadcrew workers, construction laborers, warehouse workers, walmart stockers, etc. my grandfather was a cotton mill worker with no high school degree…went to war, came home, bought a new house in a mill village, had 4 kids, a car and stay at home wife.
Miscers are incredibly delusional. They think everyone should be able to earn a top 1% income
08-13-2024, 09:04 PM
#128
Originally Posted By coast2coastam⏩
Inventory is very unlikely to ever return to normal. People don't want to move due to how cheap their current situation is vs the current market and nobody is defaulting due to the same reason
An older more worn down and used up house. Tons of housing markets look like this right now.
Housing prices are so inflated that they could fall 50% and most people still wouldn't be underwater. They went sky high in 2021 almost overnight because rates were dropped to nothing and people could afford the monthly payments because of that. Now prices are high and rates are at more normal levels, but no one can afford anything as a result. If inventory returns to normal, what's going to keep these prices so elevated?
Housing prices are so inflated that they could fall 50% and most people still wouldn't be underwater. They went sky high in 2021 almost overnight because rates were dropped to nothing and people could afford the monthly payments because of that. Now prices are high and rates are at more normal levels, but no one can afford anything as a result. If inventory returns to normal, what's going to keep these prices so elevated?
You would need a huuuuuge influx of inventory for prices to start to trickle down. The other issue is, because so many people are in these fantastic mortgage situations with very low rates and tons of equity and a very low payment, you have very stubborn sellers who simply don't want to sell unless they're getting top top dollars. That makes it very hard for a widespread price drop
08-13-2024, 09:05 PM
#129
Originally Posted By Orion1818⏩
a lot of it is to feed the ego of their internet character and likely some way of boosting their self esteem.
Miscers are incredibly delusional. They think everyone should be able to earn a top 1% income
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08-13-2024, 09:05 PM
#130
In the past 25 years there’s probably one day in 2009 where people weren’t complaining about home prices, and everyone was laid off at the time
Logic suggests they’ll be worse 10, 20+ years from now
Logic suggests they’ll be worse 10, 20+ years from now
08-13-2024, 09:08 PM
#131
Originally Posted By r32gojirra⏩
Yes but over time economic growth SHOULD see growth in productivity which is translated into growth in real incomes
Now ofc in the short run that has not occurred but today’s welfare recipients have a higher quality of life and life expectancy than a monarch from pre-industrial revolution
Now ofc in the short run that has not occurred but today’s welfare recipients have a higher quality of life and life expectancy than a monarch from pre-industrial revolution
You can't compare now to 200 years ago
Compare now to 10 years ago. It's 100x harder to prosper and get ahead and live a great life as a young up coming couple (which is the true American dream)
10 years ago, a young couple could make 60k household income, get a very nice house for 1200 a month, have 2 nice leased cars and still save 15k a year and retire comfortably at 70 with a 1.5 million 401k
Now the same couple is making 70k but is living with their parents forever because rent is 2500 a month and a mortgage is 3500 a month. Incomes have barely crept up while everything else has shot up in costs
08-13-2024, 09:09 PM
#132
Originally Posted By Destor⏩
2009 to 2014ish was the real best time to buy…people were getting what is now a $750k house for like $350k around here.
In the past 25 years there’s probably one day in 2009 where people weren’t complaining about home prices, and everyone was laid off at the time
Logic suggests they’ll be worse 10, 20+ years from now
Logic suggests they’ll be worse 10, 20+ years from now
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08-13-2024, 09:11 PM
#133
Originally Posted By eddiehaskell⏩
There's tons of people where both husband and wife work 40-50 hours a week and have decent jobs and only make 70-90k a year. **** even a 100k household income now is nothing if you have to buy a house now because that's basically 6500 a month and a mortgage is 3500. 3k left over after mortgage means you're not saving anything
a lot of it is to feed the ego of their internet character and likely some way of boosting their self esteem.
08-13-2024, 09:16 PM
#134
Originally Posted By Orion1818⏩
yeah…for example around here a teacher makes $40k-ish with less than 5 years experience. two teachers put together might be lucky to gross $100k while likely having some student debt to pay. throw in $2k rent and they'd be scraping by even without a kid of their own.
There's tons of people where both husband and wife work 40-50 hours a week and have decent jobs and only make 70-90k a year. **** even a 100k household income now is nothing if you have to buy a house now because that's basically 6500 a month and a mortgage is 3500. 3k left over after mortgage means you're not saving anything
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08-13-2024, 09:19 PM
#135
Originally Posted By deadorange⏩
How has this alt account not been banned yet wincel
lol @ nonslavic whites ditching their parents
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08-13-2024, 09:19 PM
#136
Originally Posted By Orion1818⏩
The real blackpill is that in 2024, they aren't even a couple. The girl is single and pushing around a miniature dog in a stroller. The guy is single and beating his meat to women getting choked out in hardcore pornos, after desensitizing himself to the vanilla stuff.
You can't compare now to 200 years ago
Compare now to 10 years ago. It's 100x harder to prosper and get ahead and live a great life as a young up coming couple (which is the true American dream)
10 years ago, a young couple could make 60k household income, get a very nice house for 1200 a month, have 2 nice leased cars and still save 15k a year and retire comfortably at 70 with a 1.5 million 401k
Now the same couple is making 70k but is living with their parents forever because rent is 2500 a month and a mortgage is 3500 a month. Incomes have barely crept up while everything else has shot up in costs
Compare now to 10 years ago. It's 100x harder to prosper and get ahead and live a great life as a young up coming couple (which is the true American dream)
10 years ago, a young couple could make 60k household income, get a very nice house for 1200 a month, have 2 nice leased cars and still save 15k a year and retire comfortably at 70 with a 1.5 million 401k
Now the same couple is making 70k but is living with their parents forever because rent is 2500 a month and a mortgage is 3500 a month. Incomes have barely crept up while everything else has shot up in costs
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08-13-2024, 09:19 PM
#137
Originally Posted By eddiehaskell⏩
yeah…for example around here a teacher makes $40k-ish with less than 5 years experience. two teachers put together might be lucky to gross $100k while likely having some student debt to pay. throw in $2k rent and they'd be scraping by even without a kid of their own.
For how expensive things have gotten, median income should be 150k to be proportional
08-13-2024, 10:40 PM
#138
You know things are real bad when siblings are trying to swindle other siblings' inheritance of real estate.
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08-14-2024, 06:10 AM
#139
Bump
08-14-2024, 06:33 AM
#140
Originally Posted By eddiehaskell⏩
If you were already established/well off sure, but the housing market crashed because the economy went to chit, unemployment in the US spiked to 10% and people weren’t there to buy houses.
2009 to 2014ish was the real best time to buy…people were getting what is now a $750k house for like $350k around here.
Fukn lol @ people now talking about how easy it was to buy houses a decade ago, that was never the sentiment. 10 years from now we’ll be here all “remember when it only took $150k income to buy a house, those were the days!” Rose coloured glasses of peace and prosperity.
08-14-2024, 07:33 AM
#141
Originally Posted By Destor⏩
Bro I bought my first house in 2013 when I was making 40k and used my $3000 tax return as a down payment. That house went from being worth $160k when I bought it to $550k according to Zillow. It was easier.
If you were already established/well off sure, but the housing market crashed because the economy went to chit, unemployment in the US spiked to 10% and people weren’t there to buy houses.
Fukn lol @ people now talking about how easy it was to buy houses a decade ago, that was never the sentiment. 10 years from now we’ll be here all “remember when it only took $150k income to buy a house, those were the days!” Rose coloured glasses of peace and prosperity.
Fukn lol @ people now talking about how easy it was to buy houses a decade ago, that was never the sentiment. 10 years from now we’ll be here all “remember when it only took $150k income to buy a house, those were the days!” Rose coloured glasses of peace and prosperity.
08-14-2024, 07:40 AM
#142
Originally Posted By FA*******⏩
Please PM me the full nelson anal choking video you're beating your meat to, thank you
The real blackpill is that in 2024, they aren't even a couple. The girl is single and pushing around a miniature dog in a stroller. The guy is single and beating his meat to women getting choked out in hardcore pornos, after desensitizing himself to the vanilla stuff.
se
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08-14-2024, 08:18 AM
#143
Originally Posted By Vhagar⏩
Here’s a thread from 2016 asking how people afford houses
Bro I bought my first house in 2013 when I was making 40k and used my $3000 tax return as a down payment. That house went from being worth $160k when I bought it to $550k according to Zillow. It was easier.
https://forum.bodybuilding.com/showt...uses+expensive
2017
https://forum.bodybuilding.com/showt...uses+expensive
Another 2017 but specific to Toronto, one dude says housing in the US isn’t so bad
https://forum.bodybuilding.com/showt...uses+expensive
I’m not saying it hasn’t gotten harder though, just that people were complaining a decade ago and they’ll be complaining a decade from now. And a decade from now we’ll probably be reminiscing about how much easier it was in 2024.
08-14-2024, 08:28 AM
#144
I don't see how most people can afford this. Pretty ridiculous market for a "starter home"
08-14-2024, 03:44 PM
#145
Originally Posted By Orion1818⏩
These are the 3 markets I watch, and it looks like inventory is returning to normal:
Inventory is very unlikely to ever return to normal. People don't want to move due to how cheap their current situation is vs the current market and nobody is defaulting due to the same reason
You would need a huuuuuge influx of inventory for prices to start to trickle down.
You would need a huuuuuge influx of inventory for prices to start to trickle down.
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Originally Posted By Orion1818⏩
This does seem to be the case so far. Prices are still astronomical despite inventory being up in these markets.
The other issue is, because so many people are in these fantastic mortgage situations with very low rates and tons of equity and a very low payment, you have very stubborn sellers who simply don't want to sell unless they're getting top top dollars. That makes it very hard for a widespread price drop
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08-14-2024, 03:50 PM
#146
Originally Posted By Destor⏩
It blows my mind when people make these sort of posts. Housing prices doubled or tripled in 2021. This is unprecedented. This is not like 2016 or 2017. It's a little bit like 2006 or 2007, only much worse.
Here’s a thread from 2016 asking how people afford houses
https://forum.bodybuilding.com/showt...uses+expensive
2017
https://forum.bodybuilding.com/showt...uses+expensive
Another 2017 but specific to Toronto, one dude says housing in the US isn’t so bad
https://forum.bodybuilding.com/showt...uses+expensive
I’m not saying it hasn’t gotten harder though, just that people were complaining a decade ago and they’ll be complaining a decade from now. And a decade from now we’ll probably be reminiscing about how much easier it was in 2024.
https://forum.bodybuilding.com/showt...uses+expensive
2017
https://forum.bodybuilding.com/showt...uses+expensive
Another 2017 but specific to Toronto, one dude says housing in the US isn’t so bad
https://forum.bodybuilding.com/showt...uses+expensive
I’m not saying it hasn’t gotten harder though, just that people were complaining a decade ago and they’ll be complaining a decade from now. And a decade from now we’ll probably be reminiscing about how much easier it was in 2024.
Maybe you live in a market that isn't as bad, I've never looked at Alberta, but it's unbelievable in certain parts of the US.
Here's a house I rented on airbnb earlier this year:
270% value increase from just 2019. Almost 500% increase from 2014. This house was not renovated in any meaningful way, it was built in the 1960s. Cheaply built little box in an area full of identical houses.
Originally Posted By Vhagar⏩
I don't understand why some people can't wrap their minds around this.
Bro I bought my first house in 2013 when I was making 40k and used my $3000 tax return as a down payment. That house went from being worth $160k when I bought it to $550k according to Zillow. It was easier.
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08-14-2024, 04:12 PM
#147
Originally Posted By Mr.PissShivers⏩
Wherever you can buy for as close to the pre-2021 price, that minimizes risk imo. Up until recently Peoria, IL was incredibly cheap. I'm not sure if that's still the case, I haven't looked in a while. I have a friend who lives up there that bought an older, but in good condition house for around $100k. He worked for Caterpillar, which is based out of there, but now works remote. It's not a huge job market, but neither are half of these cities and areas that exploded in price.
Where is the best state to move to?
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08-14-2024, 04:29 PM
#148
The government did this
They gave out 30 year 2.5 percent interest mortgage loans, that cannot be called back. There's no "undoing" those mortgages
Then the government had the bright idea of doubling our money supply during covid causing high inflation. You can't undo this without deflation. Those 30 year mortgages effectively have a "negative" interest rate while the nominal value of the house doubled. Homeowners basically got hundreds of thousands of dollars given to them for free overnight.
The government did a massive transfer of wealth to those who had homes, from those that did not.
You can't fix this or undo this. If you had a house, you won. If you didn't, you lost. Better luck in the afterlife I guess
They gave out 30 year 2.5 percent interest mortgage loans, that cannot be called back. There's no "undoing" those mortgages
Then the government had the bright idea of doubling our money supply during covid causing high inflation. You can't undo this without deflation. Those 30 year mortgages effectively have a "negative" interest rate while the nominal value of the house doubled. Homeowners basically got hundreds of thousands of dollars given to them for free overnight.
The government did a massive transfer of wealth to those who had homes, from those that did not.
You can't fix this or undo this. If you had a house, you won. If you didn't, you lost. Better luck in the afterlife I guess
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08-14-2024, 04:32 PM
#149
…
08-14-2024, 04:36 PM
#150
Originally Posted By Destor⏩
Dude you're retarded, with all due respect
If you were already established/well off sure, but the housing market crashed because the economy went to chit, unemployment in the US spiked to 10% and people weren’t there to buy houses.
Fukn lol @ people now talking about how easy it was to buy houses a decade ago, that was never the sentiment. 10 years from now we’ll be here all “remember when it only took $150k income to buy a house, those were the days!” Rose coloured glasses of peace and prosperity.
Fukn lol @ people now talking about how easy it was to buy houses a decade ago, that was never the sentiment. 10 years from now we’ll be here all “remember when it only took $150k income to buy a house, those were the days!” Rose coloured glasses of peace and prosperity.
I bought a 2000 square foot townhouse in 2014 at 1300 a month. The same townhouse now is 2900 a month. That's a 230% increase. How much have incomes increased in that time? Please look up for me. 15%? 20%?
When it comes to young generations, people 10 years ago could afford a nice place with average income. Now you can't even afford a way below average place with a top 30% income. You need a top 10% income to afford a starter home comfortably
Miscers answer to everything is to earn money but everybody can't earn top 5% income. That's not realistic
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