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Housing market is TTT as fuck
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Date: April 11th, 2025 8:46 AM Author: woah (hitler did nothing wrong) My wife and I gross a combined $190k in a very cheap city and somehow still can't afford to move up from our starter home I bought in 2014. My income has doubled since then in addition to getting married and gaining her income as well. We hold no long term debt and have pretty minimal expenses aside from maxing out 401(k) and Roth IRAs every year.
What the fuck are poors even doing to survive in this economy? |
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Date: April 11th, 2025 9:12 AM Author: animeboi (.) BS, if everything has been going up then your 2014 home should have gone up as well so you will have 'equity' to put towards a bigger house. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837195) |
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Date: April 11th, 2025 9:14 AM Author: woah (hitler did nothing wrong) The down payment isn't the issue, it's the monthly with 6.5% interest, property taxes, and insurance premiums off back-to-back 20% annual hikes.
I don't think a $600k house should be out of reach for us, but that's the absolute top of budget right now and puts me in an uncomfortable spot where we would be "house poor" |
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Date: April 11th, 2025 10:38 AM Author: metaphysical liberation 600k is out of reach on 200k income bud. think 350-400 (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837536) |
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Date: April 11th, 2025 1:25 PM Author: ....,,,.....,,....,.......,,,...., (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838123) |
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Date: April 11th, 2025 1:36 PM Author: Diamond Dallas Trump Now do $190k combined. Less money and it has to provide for two people.
350-400 is out of reach bud. think 225-250. |
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Date: April 11th, 2025 10:49 PM Author: TSINAH eating Jimmy John's in a gay bar Come on. That's just idiotic. I bought a $350k house in 2007, and my salary was around $80k at the time. Interest rates were slightly lower then than they are now, but not by much. I think I got a 5.75% rate on my first mortgage. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48839554) |
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Date: April 12th, 2025 5:40 PM Author: Diamond Dallas Trump u didn't get a mortgage for 4.5x gross income @ 5.75%
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Date: April 12th, 2025 8:14 PM Author: TSINAH eating Jimmy John's in a gay bar Yes I did:
https://i.imgur.com/kEfuZKX.jpeg
The total payment came to around $2,000 per month. I don't remember the PITI breakdown. My take home pay was $5,000 something at the time. I had zero non-mortgage debt and some decent retirement assets, which probably helped me get approved. And I also put 20% down. But yes, you can get approved for a $350k house on an $80k salary. |
Date: April 11th, 2025 8:53 AM Author: AZNgirl sexually curious abt Peking Pajeet its funny trumpshit whines abt manu when in 80's US also just stopped investing in infra and at some point also stopped building enough housing
imagine oif they had done both and they had oversupply of housing |
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Date: April 11th, 2025 8:58 AM Author: .,..,.,.;,.,,:,.,.,::,...,..,:,..;,.., wtf does that even mean? yea having train tracks running behind your backyard will somehow make people able to afford homes. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837148) |
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Date: April 11th, 2025 8:59 AM Author: AZNgirl sexually curious abt Peking Pajeet im saying all these angry birdshits cld have been put to work building houses and bullet trains and giant statutes of ethiopian dildos and stuff (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837150) |
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Date: April 11th, 2025 9:02 AM Author: .,..,.,.;,.,,:,.,.,::,...,..,:,..;,.., we drive cars in this country and we live in big houses and we've been building plenty of both. no one wants to live in commie apartments and ride public transit with china produced fentaly addicts (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837159) |
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Date: April 11th, 2025 9:10 AM Author: AZNgirl sexually curious abt Peking Pajeet blahblah u ppl are truly retarded and deserve to burn (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837192) |
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Date: April 11th, 2025 9:16 AM Author: ...,....,,........ "we've been building plenty of both"
No the fuck we haven't.
https://www.brookings.edu/articles/make-it-count-measuring-our-housing-supply-shortage/
"Our calculations show that the U.S. housing market was short 4.9 million housing units in 2023 relative to mid-2000s. " |
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Date: April 11th, 2025 9:18 AM Author: AZNgirl sexually curious abt Peking Pajeet nooooooooooooooooo trumpkins can say whatever they want and its factually correct, shitlib (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837208) |
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Date: April 11th, 2025 1:22 PM Author: .,.,...,..,.,.,:,,:,.,.,:::,...,:,...:..:.,:.::,. Now adjust for demographics. Remove all of those illegal immigrants that aren't buying houses or poor people that are non-factors. Limit to the wealthy, UMC and MMC. The rest are renters.
By the way, the era of poor people and LMC people owning property is over and not coming back. |
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Date: April 11th, 2025 1:45 PM Author: Game Gear Battery Holocaust "By the way, the era of poor people and LMC people owning property is over and not coming back"
BUT MUH AMURRRICAAAN DREAM! |
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Date: April 11th, 2025 2:36 PM Author: .,.,...,..,.,.,:,,:,.,.,:::,...,:,...:..:.,:.::,. The American dream is about moving up in the world and not being poor or LMC anymore. You start as a plumber and then start your own plumbing business. It isn't about everyone no matter how unsuccessful owning a house and a car. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838432) |
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Date: April 11th, 2025 2:41 PM Author: Lower Lower Middle Class LEARN 2 CODE SHITCONS |
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Date: April 12th, 2025 12:56 AM Author: sealclubber you are basically correct, but in order to have the american dream available to most, owning a car must be available to all and owning one's housing must be available to most. the housing may be a shitty condo or even a trailer home, but that is available to most today. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48839643) |
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Date: April 12th, 2025 12:58 AM Author: Lower Lower Middle Class It's all fucked up. It's all fucking shit. It's fucking unattainable you fuck. 90% of people have no value, don't get paid in enough money to ever own anything even a shithole. Don't you get it? Feudalism is real. We're already in it. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48839644) |
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Date: April 12th, 2025 1:11 AM Author: sealclubber i don't get it because you're not correct a shitty trailer home is accessible to basically everyone you go from there
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Date: April 12th, 2025 1:16 AM Author: Lower Lower Middle Class Where? Where is it accessible? In New York? Anywhere close to jobs? Anywhere close to where life actually happens? You're talking about trailer parks with a long commute? You're fucking delusional. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48839666) |
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Date: April 12th, 2025 1:21 AM Author: sealclubber new york? what is your occupation? what is your income? (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48839668) |
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Date: April 12th, 2025 1:23 AM Author: Lower Lower Middle Class Yeah I'm a fucking fund manager and I live in a penthouse. Durrr. Holy fuck you are the most retarded person in the entire world. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48839673) |
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Date: April 12th, 2025 9:13 PM Author: sealclubber that's an answer? you appear to feel very sorry for yourself. perhaps you should. |
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Date: April 11th, 2025 3:40 PM Author: .,..,.,.;,.,,:,.,.,::,...,..,:,..;,.., "economists" are a bunch of cumfarters who do not like America or Americans or anyone who doesn't fart cum from their asshole so any analysis they do is biased in that direction (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838712) |
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Date: April 11th, 2025 1:20 PM Author: .,.,...,..,.,.,:,,:,.,.,:::,...,:,...:..:.,:.::,. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838100) |
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Date: April 11th, 2025 2:46 PM Author: LathamTouchedMe infrastructure is the one thing that people miss when they talk about the housing affordability crisis. If you could get to midtown manhattan in 30 minutes from 90+ miles away, you'd be able to create a lot more density in the outer-rings and build more low-density exurban further out. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838487) |
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Date: April 11th, 2025 9:15 AM Author: ...,....,,........ US stopped building enough housing after the Great Recession.
Developers got their shit PUSHED IN when ITE happened. So as a result, they stopped building as much in subsequent years. |
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Date: April 11th, 2025 1:45 PM Author: Game Gear Battery Holocaust (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838200) |
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Date: April 11th, 2025 8:55 AM Author: shitlib shibboleth You would have to be insane to buy at these rates/prices. The market is due for a 20% correction in many areas. But there’s not enough inventory for price discovery to occur. We will see what happens this spring, but it’s no bueno that prices have not budged despite interest rates MORE THAN DOUBLING. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837145) |
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Date: April 11th, 2025 9:06 AM Author: mountain cat everyone's an economist when it comes time to discuss the housing market. you have no idea whether the market will correct by 20%. Tons of people have 2-3% interest rates and are never selling. And if rates do drop leading to increased supply, those same low rates mean people will qualify for bigger loans.
I'd think a recession with massive layoffs would impact the market more so than a reduction in interest rates. Again, no one actually knows if/when that will happen. |
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Date: April 11th, 2025 9:13 AM Author: Oh, you trade? (🧐) Gen Z/alpha will hopefully have a better go around because they'll be prime housebuying age during the Dying Boomers Boom (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837200) |
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Date: April 11th, 2025 9:18 AM Author: ...,....,,........ The Dying Boomers Boom will just pass their homes off to their Gen X children.
If we experience ITE: THE SEQUEL, then Gen Z won't have a job to afford the depreciated homes. |
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Date: April 11th, 2025 9:21 AM Author: Oh, you trade? (🧐) People who already own homes aren't going to just hold on to two houses, and in any case most people have more than one kid and if the house is their primary asset it ends up getting sold to settle the estate (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837216) |
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Date: April 11th, 2025 9:48 AM Author: mountain cat Counting on the benevolence of gen X and millenials to use their boomer windfall inheritance for their kids? (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837296) |
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Date: April 11th, 2025 10:12 AM Author: Oh, you trade? (🧐) The windfall is when the surplus housing actually gets sold, which it will because the vast majority of people want cash instead of a second house in some place they don't live. If the argument is "people will never sell because they're locked into their homes" the counterargument is "everybody dies". Boomers are obviously own homes in much larger numbers than every other gen and they won't live forever (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837385) |
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Date: April 11th, 2025 10:19 AM Author: mountain cat Ah ok i misunderstood. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837416) |
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Date: April 11th, 2025 10:25 AM Author: ...,....,,........ So Gen Z just needs to wait another 15 years?
What is to stop the GenX from trying to cash in on their Dead Boomer parents home value by charging an egregious amount? |
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Date: April 11th, 2025 11:02 AM Author: hours-hungry BILLPIG BlackRock will be buying those houses, not Gen Z redditors (the ones that BlackRock doesn't already own because boomers reverse mortgaged them to pay for long term care) (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837672) |
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Date: April 11th, 2025 9:08 AM Author: mountain cat if you stopped maxing your retirement contributions, you'd have more to put down. Can't you take a 401(k) loan to access that money without it impacting your ability to qualify for a mortgage?
With the equity you've got in your current home and your combined income, surely you could buy a nice house in a "very cheap city". |
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Date: April 11th, 2025 9:12 AM Author: woah (hitler did nothing wrong) I don't think you understand the premiums people will pay to live far away from niggers.
401(k) loan is not on the table, we have enough equity & savings for a 25% down payment on anything in our price range no prob. also LMAO @ selling at the bottom of the market right now!
The issue is what our budget buys you - everything in a better area or closer to work is both more expensive and a step down in some way from our "starter" home (like 1 fewer bedroom, less sqft, postage stamp lot instead of our acre) |
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Date: April 11th, 2025 9:19 AM Author: ...,....,,........ I don't understand why you're facing a financial problem.
Your wife has a mouth, doesn't she? |
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Date: April 11th, 2025 10:18 AM Author: mountain cat First, I denounce racism in all forms. Second, your OP specified that it was an extremely cheap city. Now you are buying in a nice place that carries a premium?
So your issue isn't that you can't afford a home, it's that you want to upgrade to nicer home in a nicer town but not sell your current home. You want to own 2 homes with a combined income of $190k.
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Date: April 11th, 2025 10:21 AM Author: woah (hitler did nothing wrong) Cheap in the sense that it's the midwest and you're not paying $1MM for a basic home.
I would sell my current home and pocket around $150k of equity after costs which would be the down payment. Go plug that into a website on a $600k home and see what you have left to live off. It's not very much at all, especially after daycare, college savings, etc. |
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Date: April 11th, 2025 10:45 AM Author: mountain cat Bro your monthly payment on a $600k house with a $450k loan is like $3,500. Daycare is a temporary problem. If you really need this new house, suspend 401(k) contributions and college savings until you're done with daycare. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837590) |
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Date: April 11th, 2025 10:46 AM Author: metaphysical liberation (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837594) |
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Date: April 11th, 2025 1:08 PM Author: Lower Lower Middle Class Yeah I really can't understand how this guy would be housepoor on 3500 a month all in and less after tax breaks on 190k. On 15,800 a month pretax. Even with 25% 401K and taxes he's still got a lot left over to play with every month. He must have some insane lifestyle like constant travel or something. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838067) |
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Date: April 11th, 2025 1:14 PM Author: woah (hitler did nothing wrong) I am just super conservative, addicted to my $800/mo PITI and stacking cash. It was fine when I was in my early 20s but I'm getting serious N fatigue. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838083) |
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Date: April 11th, 2025 1:20 PM Author: Lower Lower Middle Class Think about it this way, when you bought your house the 600k house was 300k. It grew at the same rate but the principal was higher. You're chasing equity. But at the same time the new home will grow too. Homes in nice areas do very well. You should be fine. It'll all go to your equity in the end. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838099) |
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Date: April 11th, 2025 4:53 PM Author: mountain cat (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838944) |
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Date: April 11th, 2025 10:26 AM Author: ...,....,,........ The issue is that he's a racist piece of shit. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837456) |
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Date: April 11th, 2025 10:37 AM Author: woah (hitler did nothing wrong) Is it racist to not hear gunfire many times per year in my neighborhood? Is it racist to not want to have some minimum standards of conduct (let alone academic performance!) in my local school? (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837533) |
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Date: April 12th, 2025 7:35 PM Author: AI_concubine Yes those are racist (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48841375) |
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Date: April 11th, 2025 9:12 AM Author: Oh, you travel? ( ) twist - we ARE the poors (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837196) |
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Date: April 11th, 2025 9:14 AM Author: '"'"'"''" (Walter White) (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837204) |
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Date: April 11th, 2025 9:55 AM Author: Oh, You Travel? ( ) Aren’t you an Engineer? Just get a fixer-upper and Engineer it. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837318) |
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Date: April 11th, 2025 10:11 AM Author: woah (hitler did nothing wrong) Brother $600k is a fixer-upper that needs significant Engineering.
My current house was like $80k and I tripled the value by Engineering it too. |
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Date: April 11th, 2025 10:47 AM Author: Oh, You Travel? ( ) Get a $400k fixer-upper and Engineer it. 600k is decadent imo. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837599) |
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Date: April 11th, 2025 9:56 AM Author: Brussels Sprout: Brussels,Helsinki,Stockholm,Kyiv does anyone make a brick house with a basement anymore? everything is built on slab and prefabricated. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837323) |
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Date: April 11th, 2025 10:07 AM Author: internet g0y If your home has enough bedrooms and is on an acre then why do you want to move (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837367) |
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Date: April 11th, 2025 10:10 AM Author: woah (hitler did nothing wrong) It's surrounded by NIGGERS and the school system is a Mad Max thunderdome (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837378) |
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Date: April 11th, 2025 1:09 PM Author: Lower Lower Middle Class And someone will pay 300k+ for that? (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838069) |
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Date: April 11th, 2025 1:13 PM Author: woah (hitler did nothing wrong) I'm betting on $250k given recent comp sales and it includes a second buildable lot. If I didn't need the equity for a new primary I would rent this house out too, it's down the street from my rentals and it's a good rental market (new AMZN distro center, manufacturing plants, etc popping up) (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838080) |
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Date: April 11th, 2025 1:17 PM Author: Lower Lower Middle Class Look at you with your little baby nest egg. You're building an empire.
Did I ever tell you about the time someone I knew tried to sell a family home in Calumet? It was this gorgeous house that had belonged to some copper mining baron back in the day. It was really beautiful. I think it sold for like 50k. Lol. |
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Date: April 11th, 2025 2:22 PM Author: woah (hitler did nothing wrong) lmao if only I could wageslave in the UP and live in a lumber baron's mansion
I was browsing and saw a 9K sqft home with just SPS everything inside but only cost $450k |
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Date: April 11th, 2025 2:40 PM Author: Lower Lower Middle Class The only industry up there is medical. Imagine being a Doctor. You pretty much are King of the Island.
One thing that's crazy is that there are parts of the Midwest that are even cheaper. There are parts of like rural Illinois so affordable they make the UP look like Tribeca. It's actually gotten kind of gentrified and there's lots of artisanal hipster shit now. Meanwhile Traverse City IS as expensive as Manhattan. Kooky times.
Did ever tell you about the time that a Native woman from Baraga chased me with a baseball bat and tried to rape me? That was kooky as well. |
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Date: April 11th, 2025 2:50 PM Author: woah (hitler did nothing wrong) No way! Those Indian squaws are fucking insane, I always gave them a wide berth (because most of them were wide lol) (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838513) |
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Date: April 11th, 2025 3:10 PM Author: Lower Lower Middle Class She was like 4'11" 245. I got away with ease. People make fun of Prancing Scholars but there are advantages to this. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838587) |
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Date: April 13th, 2025 12:45 AM Author: bloomington (🦬) I used to own some land in Baraga County (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48841989) |
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Date: April 11th, 2025 10:14 AM Author: """'"'"""'' "We hold no long term debt and have pretty minimal expenses aside from maxing out 401(k) and Roth IRAs every year."
LOL, if both of you make 190k combined and you are each maxing out your 401ks then like 1/3 of your after tax income is going to retirement funds. Are you still confused? |
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Date: April 11th, 2025 10:16 AM Author: woah (hitler did nothing wrong) yeah that's how much you need to save in order to retire, dumbass. We're not "maxing" completely because Wife's plan is a mandatory 5% contribution w/ massive employer match but doesn't allow discretionary above that amount so it's not the complete $27k
Do you want to be Destitute in your old age? Social Security is not going to exist and we have to prepare for that eventuality. |
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Date: April 11th, 2025 10:19 AM Author: """'"'"""'' I'm the dumbass? your entire household income is 190k. Clearly you've done something wrong in life.
don't complain that you can't afford anything above a starter home when you make two shit salaries and are contributing a huge proportion to retirement (that no one else at your salary levels would do). htfh you nasty prole fuck. |
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Date: April 11th, 2025 10:22 AM Author: woah (hitler did nothing wrong) state your height and ethnicity before I engage you further (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837439) |
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Date: April 11th, 2025 11:07 AM Author: He flexed his right muscle. Explain what severe mental defect you have to only have a $190k HHI (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837688) |
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Date: April 11th, 2025 11:29 AM Author: woah (hitler did nothing wrong) I bought into STEM flame
Engineering pay did not keep up with the market thanks to H1B Indians and offshoring |
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Date: April 11th, 2025 3:06 PM Author: He flexed his right muscle. Liberal artists win again (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838573) |
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Date: April 11th, 2025 10:14 PM Author: Oh, You Travel? ( ) (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48839510) |
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Date: April 11th, 2025 10:49 AM Author: Fyre festival founder (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837608) |
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Date: April 11th, 2025 10:27 AM Author: ...,....,,........ "Do you want to be Destitute in your old age?"
Your Wife has a mouth, doesn't she? |
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Date: April 11th, 2025 10:48 AM Author: metaphysical liberation retirement is jewish flame (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837606) |
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Date: April 12th, 2025 12:17 AM Author: TSINAH eating Jimmy John's in a gay bar You should play around with a financial calculator and see if you can reduce your retirement savings. First, while there is a good chance that Social Security benefits will be reduced in the future, the likelihood that Social Security will "not exist" is almost zero. And my guess is that you don't need to save that much for retirement unless you are trying to retire early. My wife and I only maxed Roth IRA's plus about $12k per year in my 401k until we were in our 40's, and my robo-advisor says that we can easily retire in our mid-50's. Granted, we live pretty cheaply and don't have kids, plus I started maxing my Roth IRA in my early 20's, so we have benefited from long-term growth. But saving $60k+ per year for retirement seems like a major overkill unless you intend to live like RSF in retirement. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48839623) |
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Date: April 11th, 2025 10:48 AM Author: blow off some steam Don’t do it if you own anything you’re a gay idiot and you’ll just be getting scammed by a bunch of dirty niggers all day go live in your car or a tent (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837602) |
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Date: April 11th, 2025 10:50 AM Author: metaphysical liberation campgrounds are free or cheap$ (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837611) |
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Date: April 11th, 2025 10:54 AM Author: woah (hitler did nothing wrong) CR might just cash out and do a TT live on a beach in Mexico and give up on this flame "life" (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48837636) |
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Date: April 11th, 2025 1:15 PM Author: .....,,,,,...,,,,,..,.,,,,,.,,. I’m in So Cal and the situation is insane, even by California standards. A minimally acceptable house in a non-thunderdome school district is literally like 1.4-1.6 mil.
Combined with current interest rates, the only way this is doable is 1) you have two earners making like 250k+ and like a million $ saved, 2) your rich parents buy you a house. I grew up here and there used to be legit middle class families but those days are long gone. |
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Date: April 11th, 2025 1:23 PM Author: Lower Lower Middle Class It's all nepotism at this point. It's all long term stored family wealth. What used to be very rare, a massive inheritance that would afford your kids a luxury lifestyle, just gets you a shitbox LMC house in Palo Alto. And that's only if you had 4 grandparents who went to Stanford. I know people who worked on Letterman who are struggling. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838114) |
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Date: April 11th, 2025 10:20 PM Author: ........,,,,,,......,.,.,.,,,,,,,,,, I've made this point before, but the huge issue no one is talkig about is that boomers have so much money that inheritances are going to be a huge issues.
My parents were middle class - and probably lower middle class when i was growing up. Now they have assets of over $1 mm. That would be split 3 ways, but even so - thats $300,000.
Now remember a ton of boomers have way more money (or less kids). A significant portion of millenials are going to inherit between $500,000 - $5 million - that's going to really distort the housing market. |
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Date: April 11th, 2025 11:30 PM Author: Lower Lower Middle Class It won't distort the housings market. It will keep its exactly the way it is now. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48839583) |
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Date: April 12th, 2025 12:23 AM Author: When I grow up I want to be a pumo One of my brothers lives in a really nice house that he stands to inherit when our remaining parent dies. He has had a "career" as a lib activist, basically one of those people whose job DOGE is taking, and could NEVER afford this place on his own. However, his situation is so extreme that the issue is more, if he inherits the house free and clear, can he afford the taxes, upkeep, HOA dues, etc.? (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48839629) |
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Date: April 12th, 2025 7:39 PM Author: AI_concubine Look at this fucking shoebox that just sold for 1.3: https://www.zillow.com/homedetails/2986-Babb-St-Costa-Mesa-CA-92626/25250671_zpid/
And a lot of the 1.4s will have no yard at all |
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Date: April 13th, 2025 12:44 AM Author: .....,,,,,...,,,,,..,.,,,,,.,,. Fuck, I hate this aesthetic. Looks cheap. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48841985) |
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Date: April 11th, 2025 1:21 PM Author: Lower Lower Middle Class Serious Q is your wife hot as fuck and will she be fuckable in 10 years and after 2 kids? If yes, buy the expensive house. If no get divorced immediately and start over. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838102) |
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Date: April 11th, 2025 1:24 PM Author: tarrifs My HHI is now over $2 million and we have no hope of ever being able to afford to buy a house (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838115) |
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Date: April 11th, 2025 10:11 PM Author: That's not pep. That's not diaper. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48839503) |
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Date: April 12th, 2025 1:01 AM Author: aggressive mimicry this but unironically (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48839646) |
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Date: April 12th, 2025 7:43 PM Author: AI_concubine Link to that retarded reddit post where some biglaw shrew making $850K said she still couldn’t afford a house in NY (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48841386) |
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Date: April 11th, 2025 1:24 PM Author: Brussels Sprout: Brussels,Helsinki,Stockholm,Kyiv the American Dream may have already passed u by-- I know the feeling (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838116) |
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Date: April 11th, 2025 1:26 PM Author: scholarship People are snatching up mobile homes for 300k at 6.5% now it’s insane. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48838130) |
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Date: April 11th, 2025 1:27 PM Author: ....,,,.....,,....,.......,,,...., i live in flyover and some mobile homes are selling for 350k and you still have to rent a lot space for 1200 a month...no flame
average house price here is 600k |
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Date: April 12th, 2025 5:44 PM Author: scholarship (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48841048) |
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Date: April 11th, 2025 10:10 PM Author: That's not pep. That's not diaper. (http://www.autoadmit.com/thread.php?thread_id=5709037&forum_id=2#48839502) |
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Date: April 11th, 2025 10:08 PM Author: ........,,,,,,......,.,.,.,,,,,,,,,, I'm really interested to see what happens to my community's school district.
Bascially, the cost of a starter home went from $2,500 a month to $7,500.
My guess is that historically people at the kindergarten bought a house 2-3 years prior to sending their kids, and a lot less people who can afford to pay $7,500 have kids than $2,500... |
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Date: April 12th, 2025 9:34 PM Author: ...,....,,........ I have the same concern.
Homes in my area are going for 600's.
I bought my home for the high 300's in 2021 right before rates doubled.
What kind of effect will that have on the school district when it has become considerably more expensive to move here. |