Why can't young people afford houses?

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KaiBear
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nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k


You can not buy any single family home here for less than 400k

Then either your spouse needs to work or you need to move.

Maybe my mindset is just too old school. If I had to have a house and couldn't afford one I would get another job, maybe work two jobs, my wife would go to work or we would move. I know that because we did all of those things.

And where is "here" because outside of a handful of cities you can definitely find houses less than that. They won't be nice and the neighborhood will suck but they exist.

A. Most people can not 'just move'. Got to stay where the job is.
B. Not all wives can work if they have children and usually day care is too expensive.
C. Can NOT build a single family house here for under 400k....period.
D Many people are working 2 jobs.......and life is still too expensive to purchase a single family home.



Where did this notion that everyone has a right to own their home come from?


That is a completely different question.

The subject is…..why can't young people afford houses.
nein51
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KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k


You can not buy any single family home here for less than 400k

Then either your spouse needs to work or you need to move.

Maybe my mindset is just too old school. If I had to have a house and couldn't afford one I would get another job, maybe work two jobs, my wife would go to work or we would move. I know that because we did all of those things.

And where is "here" because outside of a handful of cities you can definitely find houses less than that. They won't be nice and the neighborhood will suck but they exist.

A. Most people can not 'just move'. Got to stay where the job is.
B. Not all wives can work if they have children and usually day care is too expensive.
C. Can NOT build a single family house here for under 400k....period.
D Many people are working 2 jobs.......and life is still too expensive to purchase a single family home.



Where did this notion that everyone has a right to own their home come from?


That is a completely different question.

The subject is…..why can't young people afford houses.

It's really the flip side of the same coin.

1) they don't partner bond at a young age
2) they are unwilling to relocate to cheaper parts of the country
3) they have higher demands for their "starter home" than their parents and grandparents
4) housing has gotten more expensive
5) wages haven't kept pace with housing

But 6% interest isn't the answer, there just a ton of recency bias with rates being historically low, your parents would have killed for 6% rates.
KaiBear
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nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k


You can not buy any single family home here for less than 400k

Then either your spouse needs to work or you need to move.

Maybe my mindset is just too old school. If I had to have a house and couldn't afford one I would get another job, maybe work two jobs, my wife would go to work or we would move. I know that because we did all of those things.

And where is "here" because outside of a handful of cities you can definitely find houses less than that. They won't be nice and the neighborhood will suck but they exist.

A. Most people can not 'just move'. Got to stay where the job is.
B. Not all wives can work if they have children and usually day care is too expensive.
C. Can NOT build a single family house here for under 400k....period.
D Many people are working 2 jobs.......and life is still too expensive to purchase a single family home.



Where did this notion that everyone has a right to own their home come from?


That is a completely different question.

The subject is…..why can't young people afford houses.

It's really the flip side of the same coin.

1) they don't partner bond at a young age
2) they are unwilling to relocate to cheaper parts of the country
3) they have higher demands for their "starter home" than their parents and grandparents
4) housing has gotten more expensive
5) wages haven't kept pace with housing

But 6% interest isn't the answer, there just a ton of recency bias with rates being historically low, your parents would have killed for 6% rates.


My parents weren't looking at 200 dollars per square foot.
My parents could enjoy a middle class living with just one wage earner.
Again, it is not that easy to move unless you have a needed skill set.


Booboo Bear
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There are currently 308 homes in McLennan County for $200K or under. Some are in bad neighborhoods and some are out in the country. Many are in safe, "good enough" neighborhoods.

https://www.realtor.com/realestateandhomes-search/McLennan-County_TX/type-single-family-home,condo,townhome/price-na-200000?view=map

J.R.
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where and how one chooses to live generally involves tradeoffs. want a cookie cutter home in the burbs or do you want more of an urban setting. govt school private schools if you have kids. The young folks these day want no part of the burbs and they are willing to trade a smaller condo, rent apt ect.
FLBear5630
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J.R. said:

where and how one chooses to live generally involves tradeoffs. want a cookie cutter home in the burbs or do you want more of an urban setting. govt school private schools if you have kids. The young folks these day want no part of the burbs and they are willing to trade a smaller condo, rent apt ect.

I have no problem with that. Generations rented and lived in the Urban core. Maybe we can rescue the inner-cities.

But, if that is your choice don't complain you don't have a 2000 sf house and a pool at 28. Better yet, don't begrudge those that do have their 1600 sf house on a .25 acre lot and a pool with maintenance that taked 38 minutes a week in a nice section of the Nation. I don't want to live in the inner city and rent. Grew up in NYC, not interested. It is not all like "We Got Mail" neighborhoods.
nein51
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KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k


You can not buy any single family home here for less than 400k

Then either your spouse needs to work or you need to move.

Maybe my mindset is just too old school. If I had to have a house and couldn't afford one I would get another job, maybe work two jobs, my wife would go to work or we would move. I know that because we did all of those things.

And where is "here" because outside of a handful of cities you can definitely find houses less than that. They won't be nice and the neighborhood will suck but they exist.

A. Most people can not 'just move'. Got to stay where the job is.
B. Not all wives can work if they have children and usually day care is too expensive.
C. Can NOT build a single family house here for under 400k....period.
D Many people are working 2 jobs.......and life is still too expensive to purchase a single family home.



Where did this notion that everyone has a right to own their home come from?


That is a completely different question.

The subject is…..why can't young people afford houses.

It's really the flip side of the same coin.

1) they don't partner bond at a young age
2) they are unwilling to relocate to cheaper parts of the country
3) they have higher demands for their "starter home" than their parents and grandparents
4) housing has gotten more expensive
5) wages haven't kept pace with housing

But 6% interest isn't the answer, there just a ton of recency bias with rates being historically low, your parents would have killed for 6% rates.


My parents weren't looking at 200 dollars per square foot.
My parents could enjoy a middle class living with just one wage earner.
Again, it is not that easy to move unless you have a needed skill set.

Give me a zip code not in the 5 most expensive DMAs and I'll find you home well under $200/sq ft.

You can get new build completely wildly custom homes for $300/sq ft.

If you're looking at $200/sq ft you're not looking at a starter home or you're in a crazy high expense DMA.

If you don't have a needed skill set how can you buy any home? Why do you deserve a home if you don't have the skills to support your needed level of income. It's why apartments exist. There's nothing in our American ethos that says everyone gets to be a home owner.
J.R.
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FLBear5630 said:

J.R. said:

where and how one chooses to live generally involves tradeoffs. want a cookie cutter home in the burbs or do you want more of an urban setting. govt school private schools if you have kids. The young folks these day want no part of the burbs and they are willing to trade a smaller condo, rent apt ect.

I have no problem with that. Generations rented and lived in the Urban core. Maybe we can rescue the inner-cities.

But, if that is your choice don't complain you don't have a 2000 sf house and a pool at 28. Better yet, don't begrudge those that do have their 1600 sf house on a .25 acre lot and a pool with maintenance that taked 38 minutes a week in a nice section of the Nation. I don't want to live in the inner city and rent. Grew up in NYC, not interested. It is not all like "We Got Mail" neighborhoods.
funny. I grew up in the burbs, but prefer city life. Like I said it's about tradeoffs
J.R.
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nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k


You can not buy any single family home here for less than 400k

Then either your spouse needs to work or you need to move.

Maybe my mindset is just too old school. If I had to have a house and couldn't afford one I would get another job, maybe work two jobs, my wife would go to work or we would move. I know that because we did all of those things.

And where is "here" because outside of a handful of cities you can definitely find houses less than that. They won't be nice and the neighborhood will suck but they exist.

A. Most people can not 'just move'. Got to stay where the job is.
B. Not all wives can work if they have children and usually day care is too expensive.
C. Can NOT build a single family house here for under 400k....period.
D Many people are working 2 jobs.......and life is still too expensive to purchase a single family home.



Where did this notion that everyone has a right to own their home come from?


That is a completely different question.

The subject is…..why can't young people afford houses.

It's really the flip side of the same coin.

1) they don't partner bond at a young age
2) they are unwilling to relocate to cheaper parts of the country
3) they have higher demands for their "starter home" than their parents and grandparents
4) housing has gotten more expensive
5) wages haven't kept pace with housing

But 6% interest isn't the answer, there just a ton of recency bias with rates being historically low, your parents would have killed for 6% rates.


My parents weren't looking at 200 dollars per square foot.
My parents could enjoy a middle class living with just one wage earner.
Again, it is not that easy to move unless you have a needed skill set.

Give me a zip code not in the 5 most expensive DMAs and I'll find you home well under $200/sq ft.

You can get new build completely wildly custom homes for $300/sq ft.

If you're looking at $200/sq ft you're not looking at a starter home or you're in a crazy high expense DMA.

If you don't have a needed skill set how can you buy any home? Why do you deserve a home if you don't have the skills to support your needed level of income. It's why apartments exist. There's nothing in our American ethos that says everyone gets to be a home owner.

Yup. Precisely why my multi family business does really well.
Redbrickbear
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Redbrickbear
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cowboycwr
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nein51 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

If you don't have $5,000 to move then you don't have enough money to own a home regardless of its location.

If you can't make a living where you live then you're going to have to move or take on more work. It's quite literally what happened to the American Midwest 100 years ago and how we ended up in cities to begin with.


Sorry but that is a horrible take and bordering on elitist think.

You seriously sound like the people telling people to "learn to code" and then also telling those same people to just deal with it as their job is replaced by AI.

There is a huge difference between not being able to afford a house in an upscale neighborhood and not being able to afford a house at all.
cowboycwr
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FLBear5630 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

There is a reason that you have traffic jams between 6-9 AM and 4-7 PM. People that are driving from where they can afford their preferred lifestyle to their jobs that pay for them. Everything has a cost. You can find good neighborhoods and nice bedroom communities, but you will drive. Or, you will pay to live in the Urban core.

Ever hear the term "Drive until you qualify"? Generations have made this choice going back to the 50's and 60's. Now, the current generation doesn't want to do it, so the Government has to help? Change the whole thing. All those "Boomers" that bought wisely, improved their property and stay for 20 years now they are supposed to just walk away with little profit. Nevermind many are counting on that for retirement.


No one is saying that the government has to help. Or at least I am not.

But your post highlights the problem. Boomers were able to buy a home in nice neighborhoods on one salary. Not even upscale areas but at least safe, good schools, etc.

Now one salary only seems to be able to buy homes in not good areas. Unless that one salary is very high.
Redbrickbear
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cowboycwr said:

nein51 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

If you don't have $5,000 to move then you don't have enough money to own a home regardless of its location.

If you can't make a living where you live then you're going to have to move or take on more work. It's quite literally what happened to the American Midwest 100 years ago and how we ended up in cities to begin with.


Sorry but that is a horrible take and bordering on elitist think.

You seriously sound like the people telling people to "learn to code" and then also telling those same people to just deal with it as their job is replaced by AI.

There is a huge difference between not being able to afford a house in an upscale neighborhood and not being able to afford a house at all.


Not to mention we have basically nuked the social contact and the old cultural America of the 1950s

There are places you just can't live in America anymore…because the jobs have been shipped over seas or the social standards of behavior have collapsed to such a sad low point your kids will get murdered if you try to send them to the local public schools.

Hell in modern America buying a $700,000 dollar house in Frisco will not even necessarily save your child from being stabbed to death at a school event by some low IQ/low impulse control psychopath
boognish_bear
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KaiBear
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Redbrickbear said:

cowboycwr said:

nein51 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

If you don't have $5,000 to move then you don't have enough money to own a home regardless of its location.

If you can't make a living where you live then you're going to have to move or take on more work. It's quite literally what happened to the American Midwest 100 years ago and how we ended up in cities to begin with.


Sorry but that is a horrible take and bordering on elitist think.

You seriously sound like the people telling people to "learn to code" and then also telling those same people to just deal with it as their job is replaced by AI.

There is a huge difference between not being able to afford a house in an upscale neighborhood and not being able to afford a house at all.


Not to mention we have basically nuked the social contact and the old cultural America of the 1950s

There are places you just can't live in America anymore…because the jobs have been shipped over seas or the social standards of behavior have collapsed to such a sad low point your kids will get murdered if you try to send them to the local public schools.

Hell in modern America buying a $700,000 dollar house in Frisco will not even necessarily save your child from being stabbed to death at a school event by some low IQ/low impulse control psychopath


Bingo

It is not enough just to buy a house in order to have shelter.
Current realities involve buying a house where you and your family can SURVIVE.

Yeah, you can buy a house in East Saint Louis for a bargain price…..but it still isn't the common sense move.
nein51
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KaiBear said:

Redbrickbear said:

cowboycwr said:

nein51 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

If you don't have $5,000 to move then you don't have enough money to own a home regardless of its location.

If you can't make a living where you live then you're going to have to move or take on more work. It's quite literally what happened to the American Midwest 100 years ago and how we ended up in cities to begin with.


Sorry but that is a horrible take and bordering on elitist think.

You seriously sound like the people telling people to "learn to code" and then also telling those same people to just deal with it as their job is replaced by AI.

There is a huge difference between not being able to afford a house in an upscale neighborhood and not being able to afford a house at all.


Not to mention we have basically nuked the social contact and the old cultural America of the 1950s

There are places you just can't live in America anymore…because the jobs have been shipped over seas or the social standards of behavior have collapsed to such a sad low point your kids will get murdered if you try to send them to the local public schools.

Hell in modern America buying a $700,000 dollar house in Frisco will not even necessarily save your child from being stabbed to death at a school event by some low IQ/low impulse control psychopath


Bingo

It is not enough just to buy a house in order to have shelter.
Current realities involve buying a house where you and your family can SURVIVE.

Yeah, you can buy a house in East Saint Louis for a bargain price…..but it still isn't the common sense move.

I spent 13 years living in Bedford, OH there was a woman shot and killed by her BF not 4 blocks from my old house 2 weeks ago.

Never one time did I feel unsafe in my home.

I didn't buy just up the road in Solon because I couldn't afford to.

Someone mentioned Frisco. When I lived in DFW I live in Coppell, I wanted to live in Southlake because it was so much closer to my job but I couldn't afford to.

When I lived in Chicago I lived about 2 miles from where Prison Break was filmed and commuted easily 90 mins a day to my office which was across the street from Medina Country Club (we closed for PGA events) and I did that because I couldn't afford to live near the office.

I'm in my mid 40s, I've made 6 figures for the last 25 years and I finally bought a home I actually like about 40 days ago and even it is a compromise because I couldn't afford what I wanted nearer to my business.

This notion that you're going to go to college, get your first job and buy a 4/3 in Park Cities is utterly insane. Especially when you consider that people aren't getting married until much later in life which limits the amount of time you have dual income and no kids.
Realitybites
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KaiBear said:

Redbrickbear said:


Not to mention we have basically nuked the social contact and the old cultural America of the 1950s

There are places you just can't live in America anymore…because the jobs have been shipped over seas or the social standards of behavior have collapsed to such a sad low point your kids will get murdered if you try to send them to the local public schools.

Hell in modern America buying a $700,000 dollar house in Frisco will not even necessarily save your child from being stabbed to death at a school event by some low IQ/low impulse control psychopath


Bingo

It is not enough just to buy a house in order to have shelter.
Current realities involve buying a house where you and your family can SURVIVE.

Yeah, you can buy a house in East Saint Louis for a bargain price…..but it still isn't the common sense move.


Precisely this. There is a young family at church that bought a house they could afford in a neighborhood that employed, law abiding Americans don't live in. They are currently in the process of moving to a better neighborhood they will struggle to afford so that they can live amongst and raise their children in e midst of other employed, law abiding Americans.

We have taken up a collection to cover their mortgage on the old property for four months. Hopefully they can get it sold in that time frame.
FLBear5630
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cowboycwr said:

FLBear5630 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

There is a reason that you have traffic jams between 6-9 AM and 4-7 PM. People that are driving from where they can afford their preferred lifestyle to their jobs that pay for them. Everything has a cost. You can find good neighborhoods and nice bedroom communities, but you will drive. Or, you will pay to live in the Urban core.

Ever hear the term "Drive until you qualify"? Generations have made this choice going back to the 50's and 60's. Now, the current generation doesn't want to do it, so the Government has to help? Change the whole thing. All those "Boomers" that bought wisely, improved their property and stay for 20 years now they are supposed to just walk away with little profit. Nevermind many are counting on that for retirement.


No one is saying that the government has to help. Or at least I am not.

But your post highlights the problem. Boomers were able to buy a home in nice neighborhoods on one salary. Not even upscale areas but at least safe, good schools, etc.

Now one salary only seems to be able to buy homes in not good areas. Unless that one salary is very high.


One salary???? Ever hear of latch key kids, that was the boomers. My wife and I both worked our whole lives. She didn't want to be her Silent Generation mom, whose advice to her was her a career and don't give it up. Her mom was a farm wife.

She became a BSN nurse. Had kids, she worked nights for ten years, soon was home when they got home. They told me I needed a masters, I got one. Said you need Ops experience took a job in Ops in the Panhandle Needed experience, enlisted. Used a VA mortgage, zero down.

Now you want my house at cost? Pay your own dues...
sombear
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Redbrickbear said:



How does this square with the fact that suburbs, exurbs, and many rural areas have grown much faster than cities?

Purely anecdotal, but I moved 7 times growing up, all in smaller midwestern towns - Indiana, Ohio, Central PA. Every one of those areas is booming. And affordable.

We've lived in Montgomery County for 16 years. It's one of the fastest growing counties in the US. The Woodlands, Conroe, Montgomery, Willis, Magnolia, and more. And it's mostly younger folks. Also affordable.
KaiBear
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nein51 said:

KaiBear said:

Redbrickbear said:

cowboycwr said:

nein51 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

If you don't have $5,000 to move then you don't have enough money to own a home regardless of its location.

If you can't make a living where you live then you're going to have to move or take on more work. It's quite literally what happened to the American Midwest 100 years ago and how we ended up in cities to begin with.


Sorry but that is a horrible take and bordering on elitist think.

You seriously sound like the people telling people to "learn to code" and then also telling those same people to just deal with it as their job is replaced by AI.

There is a huge difference between not being able to afford a house in an upscale neighborhood and not being able to afford a house at all.


Not to mention we have basically nuked the social contact and the old cultural America of the 1950s

There are places you just can't live in America anymore…because the jobs have been shipped over seas or the social standards of behavior have collapsed to such a sad low point your kids will get murdered if you try to send them to the local public schools.

Hell in modern America buying a $700,000 dollar house in Frisco will not even necessarily save your child from being stabbed to death at a school event by some low IQ/low impulse control psychopath


Bingo

It is not enough just to buy a house in order to have shelter.
Current realities involve buying a house where you and your family can SURVIVE.

Yeah, you can buy a house in East Saint Louis for a bargain price…..but it still isn't the common sense move.

I spent 13 years living in Bedford, OH there was a woman shot and killed by her BF not 4 blocks from my old house 2 weeks ago.

Never one time did I feel unsafe in my home.

I didn't buy just up the road in Solon because I couldn't afford to.

Someone mentioned Frisco. When I lived in DFW I live in Coppell, I wanted to live in Southlake because it was so much closer to my job but I couldn't afford to.

When I lived in Chicago I lived about 2 miles from where Prison Break was filmed and commuted easily 90 mins a day to my office which was across the street from Medina Country Club (we closed for PGA events) and I did that because I couldn't afford to live near the office.

I'm in my mid 40s, I've made 6 figures for the last 25 years and I finally bought a home I actually like about 40 days ago and even it is a compromise because I couldn't afford what I wanted nearer to my business.

This notion that you're going to go to college, get your first job and buy a 4/3 in Park Cities is utterly insane. Especially when you consider that people aren't getting married until much later in life which limits the amount of time you have dual income and no kids.

None of which matters to todays buyers with a family to consider.
Crime, school safety, car jackings are all legitimate considerations.

And the costs associated with building a single family home in a safe area is simply beyound the ability of most young people unless their parents or grandparents help them out.

( BTW There is only ONE builder in our area that can put up a new 2 story of 2000 sf finshed for less than 500k. And he cuts corners with his flat work. I own a few and although they rent well we mentally figure on spending an extra 10k down the road for concrete work ).

My wife and I provided a significant amount to all three of our children for their homes. Have made sure all of our grandchildren will eventually get the same.

Many parents and grandparents do this. As there is not a better use for one's money.





nein51
How long do you want to ignore this user?
What's your zip code
KaiBear
How long do you want to ignore this user?
nein51 said:

What's your zip code

Sent you a PM
J.R.
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Redbrickbear said:

cowboycwr said:

nein51 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

If you don't have $5,000 to move then you don't have enough money to own a home regardless of its location.

If you can't make a living where you live then you're going to have to move or take on more work. It's quite literally what happened to the American Midwest 100 years ago and how we ended up in cities to begin with.


Sorry but that is a horrible take and bordering on elitist think.

You seriously sound like the people telling people to "learn to code" and then also telling those same people to just deal with it as their job is replaced by AI.

There is a huge difference between not being able to afford a house in an upscale neighborhood and not being able to afford a house at all.


Not to mention we have basically nuked the social contact and the old cultural America of the 1950s

There are places you just can't live in America anymore…because the jobs have been shipped over seas or the social standards of behavior have collapsed to such a sad low point your kids will get murdered if you try to send them to the local public schools.

Hell in modern America buying a $700,000 dollar house in Frisco will not even necessarily save your child from being stabbed to death at a school event by some low IQ/low impulse control psychopath

I'd live in a shoe box instead of Frisco. Place be creepy.
J.R.
How long do you want to ignore this user?
KaiBear said:

nein51 said:

KaiBear said:

Redbrickbear said:

cowboycwr said:

nein51 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

If you don't have $5,000 to move then you don't have enough money to own a home regardless of its location.

If you can't make a living where you live then you're going to have to move or take on more work. It's quite literally what happened to the American Midwest 100 years ago and how we ended up in cities to begin with.


Sorry but that is a horrible take and bordering on elitist think.

You seriously sound like the people telling people to "learn to code" and then also telling those same people to just deal with it as their job is replaced by AI.

There is a huge difference between not being able to afford a house in an upscale neighborhood and not being able to afford a house at all.


Not to mention we have basically nuked the social contact and the old cultural America of the 1950s

There are places you just can't live in America anymore…because the jobs have been shipped over seas or the social standards of behavior have collapsed to such a sad low point your kids will get murdered if you try to send them to the local public schools.

Hell in modern America buying a $700,000 dollar house in Frisco will not even necessarily save your child from being stabbed to death at a school event by some low IQ/low impulse control psychopath


Bingo

It is not enough just to buy a house in order to have shelter.
Current realities involve buying a house where you and your family can SURVIVE.

Yeah, you can buy a house in East Saint Louis for a bargain price…..but it still isn't the common sense move.

I spent 13 years living in Bedford, OH there was a woman shot and killed by her BF not 4 blocks from my old house 2 weeks ago.

Never one time did I feel unsafe in my home.

I didn't buy just up the road in Solon because I couldn't afford to.

Someone mentioned Frisco. When I lived in DFW I live in Coppell, I wanted to live in Southlake because it was so much closer to my job but I couldn't afford to.

When I lived in Chicago I lived about 2 miles from where Prison Break was filmed and commuted easily 90 mins a day to my office which was across the street from Medina Country Club (we closed for PGA events) and I did that because I couldn't afford to live near the office.

I'm in my mid 40s, I've made 6 figures for the last 25 years and I finally bought a home I actually like about 40 days ago and even it is a compromise because I couldn't afford what I wanted nearer to my business.

This notion that you're going to go to college, get your first job and buy a 4/3 in Park Cities is utterly insane. Especially when you consider that people aren't getting married until much later in life which limits the amount of time you have dual income and no kids.

None of which matters to todays buyers with a family to consider.
Crime, school safety, car jackings are all legitimate considerations.

And the costs associated with building a single family home in a safe area is simply beyound the ability of most young people unless their parents or grandparents help them out.

( BTW There is only ONE builder in our area that can put up a new 2 story of 2000 sf finshed for less than 500k. And he cuts corners with his flat work. I own a few and although they rent well we mentally figure on spending an extra 10k down the road for concrete work ).

My wife and I provided a significant amount to all three of our children for their homes. Have made sure all of our grandchildren will eventually get the same.

Many parents and grandparents do this. As there is not a better use for one's money.







My kids got Undergrad and Grad School. They be on their own.
KaiBear
How long do you want to ignore this user?
J.R. said:

KaiBear said:

nein51 said:

KaiBear said:

Redbrickbear said:

cowboycwr said:

nein51 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

If you don't have $5,000 to move then you don't have enough money to own a home regardless of its location.

If you can't make a living where you live then you're going to have to move or take on more work. It's quite literally what happened to the American Midwest 100 years ago and how we ended up in cities to begin with.


Sorry but that is a horrible take and bordering on elitist think.

You seriously sound like the people telling people to "learn to code" and then also telling those same people to just deal with it as their job is replaced by AI.

There is a huge difference between not being able to afford a house in an upscale neighborhood and not being able to afford a house at all.


Not to mention we have basically nuked the social contact and the old cultural America of the 1950s

There are places you just can't live in America anymore…because the jobs have been shipped over seas or the social standards of behavior have collapsed to such a sad low point your kids will get murdered if you try to send them to the local public schools.

Hell in modern America buying a $700,000 dollar house in Frisco will not even necessarily save your child from being stabbed to death at a school event by some low IQ/low impulse control psychopath


Bingo

It is not enough just to buy a house in order to have shelter.
Current realities involve buying a house where you and your family can SURVIVE.

Yeah, you can buy a house in East Saint Louis for a bargain price…..but it still isn't the common sense move.

I spent 13 years living in Bedford, OH there was a woman shot and killed by her BF not 4 blocks from my old house 2 weeks ago.

Never one time did I feel unsafe in my home.

I didn't buy just up the road in Solon because I couldn't afford to.

Someone mentioned Frisco. When I lived in DFW I live in Coppell, I wanted to live in Southlake because it was so much closer to my job but I couldn't afford to.

When I lived in Chicago I lived about 2 miles from where Prison Break was filmed and commuted easily 90 mins a day to my office which was across the street from Medina Country Club (we closed for PGA events) and I did that because I couldn't afford to live near the office.

I'm in my mid 40s, I've made 6 figures for the last 25 years and I finally bought a home I actually like about 40 days ago and even it is a compromise because I couldn't afford what I wanted nearer to my business.

This notion that you're going to go to college, get your first job and buy a 4/3 in Park Cities is utterly insane. Especially when you consider that people aren't getting married until much later in life which limits the amount of time you have dual income and no kids.

None of which matters to todays buyers with a family to consider.
Crime, school safety, car jackings are all legitimate considerations.

And the costs associated with building a single family home in a safe area is simply beyound the ability of most young people unless their parents or grandparents help them out.

( BTW There is only ONE builder in our area that can put up a new 2 story of 2000 sf finshed for less than 500k. And he cuts corners with his flat work. I own a few and although they rent well we mentally figure on spending an extra 10k down the road for concrete work ).

My wife and I provided a significant amount to all three of our children for their homes. Have made sure all of our grandchildren will eventually get the same.

Many parents and grandparents do this. As there is not a better use for one's money.







My kids got Undergrad and Grad School. They be on their own.

Same here.

Still wanted them to enjoy a nice home.
FLBear5630
How long do you want to ignore this user?
J.R. said:

Redbrickbear said:

cowboycwr said:

nein51 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

If you don't have $5,000 to move then you don't have enough money to own a home regardless of its location.

If you can't make a living where you live then you're going to have to move or take on more work. It's quite literally what happened to the American Midwest 100 years ago and how we ended up in cities to begin with.


Sorry but that is a horrible take and bordering on elitist think.

You seriously sound like the people telling people to "learn to code" and then also telling those same people to just deal with it as their job is replaced by AI.

There is a huge difference between not being able to afford a house in an upscale neighborhood and not being able to afford a house at all.


Not to mention we have basically nuked the social contact and the old cultural America of the 1950s

There are places you just can't live in America anymore…because the jobs have been shipped over seas or the social standards of behavior have collapsed to such a sad low point your kids will get murdered if you try to send them to the local public schools.

Hell in modern America buying a $700,000 dollar house in Frisco will not even necessarily save your child from being stabbed to death at a school event by some low IQ/low impulse control psychopath

I'd live in a shoe box instead of Frisco. Place be creepy.

Shame too. I used to love visiting SF. Funny, some areas around the urban area are very nice. I lived in Pacific Grove for a year and got up to SF area a lot in 90. Expensive but was still a great visit.
nein51
How long do you want to ignore this user?
FLBear5630 said:

J.R. said:

Redbrickbear said:

cowboycwr said:

nein51 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

If you don't have $5,000 to move then you don't have enough money to own a home regardless of its location.

If you can't make a living where you live then you're going to have to move or take on more work. It's quite literally what happened to the American Midwest 100 years ago and how we ended up in cities to begin with.


Sorry but that is a horrible take and bordering on elitist think.

You seriously sound like the people telling people to "learn to code" and then also telling those same people to just deal with it as their job is replaced by AI.

There is a huge difference between not being able to afford a house in an upscale neighborhood and not being able to afford a house at all.


Not to mention we have basically nuked the social contact and the old cultural America of the 1950s

There are places you just can't live in America anymore…because the jobs have been shipped over seas or the social standards of behavior have collapsed to such a sad low point your kids will get murdered if you try to send them to the local public schools.

Hell in modern America buying a $700,000 dollar house in Frisco will not even necessarily save your child from being stabbed to death at a school event by some low IQ/low impulse control psychopath

I'd live in a shoe box instead of Frisco. Place be creepy.

Shame too. I used to love visiting SF. Funny, some areas around the urban area are very nice. I lived in Pacific Grove for a year and got up to SF area a lot in 90. Expensive but was still a great visit.

Pretty confident he meant Frisco Texas not San Francisco
FLBear5630
How long do you want to ignore this user?
nein51 said:

FLBear5630 said:

J.R. said:

Redbrickbear said:

cowboycwr said:

nein51 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

If you don't have $5,000 to move then you don't have enough money to own a home regardless of its location.

If you can't make a living where you live then you're going to have to move or take on more work. It's quite literally what happened to the American Midwest 100 years ago and how we ended up in cities to begin with.


Sorry but that is a horrible take and bordering on elitist think.

You seriously sound like the people telling people to "learn to code" and then also telling those same people to just deal with it as their job is replaced by AI.

There is a huge difference between not being able to afford a house in an upscale neighborhood and not being able to afford a house at all.


Not to mention we have basically nuked the social contact and the old cultural America of the 1950s

There are places you just can't live in America anymore…because the jobs have been shipped over seas or the social standards of behavior have collapsed to such a sad low point your kids will get murdered if you try to send them to the local public schools.

Hell in modern America buying a $700,000 dollar house in Frisco will not even necessarily save your child from being stabbed to death at a school event by some low IQ/low impulse control psychopath

I'd live in a shoe box instead of Frisco. Place be creepy.

Shame too. I used to love visiting SF. Funny, some areas around the urban area are very nice. I lived in Pacific Grove for a year and got up to SF area a lot in 90. Expensive but was still a great visit.

Pretty confident he meant Frisco Texas not San Francisco

Thanks. Never been there!
Redbrickbear
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sombear said:

Redbrickbear said:



How does this square with the fact that suburbs, exurbs, and many rural areas have grown much faster than cities?

Purely anecdotal, but I moved 7 times growing up, all in smaller midwestern towns - Indiana, Ohio, Central PA. Every one of those areas is booming. And affordable.

We've lived in Montgomery County for 16 years. It's one of the fastest growing counties in the US….


I would assume he is talking about towns & counties not close to booming metro areas or in one of the emerging mega regions.

No doubt Montgomery county Texas is doing well…same as the once small rural towns around Indianapolis Indiana or Columbus Ohio.

But a lot of parts of those states are seeing consistent decline and little to no job growth.

Old people just getting older…younger people moving away…decline as the constant



This map tracts close to those mega regions with strong growth.



cowboycwr
How long do you want to ignore this user?
nein51 said:

KaiBear said:

Redbrickbear said:

cowboycwr said:

nein51 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

If you don't have $5,000 to move then you don't have enough money to own a home regardless of its location.

If you can't make a living where you live then you're going to have to move or take on more work. It's quite literally what happened to the American Midwest 100 years ago and how we ended up in cities to begin with.


Sorry but that is a horrible take and bordering on elitist think.

You seriously sound like the people telling people to "learn to code" and then also telling those same people to just deal with it as their job is replaced by AI.

There is a huge difference between not being able to afford a house in an upscale neighborhood and not being able to afford a house at all.


Not to mention we have basically nuked the social contact and the old cultural America of the 1950s

There are places you just can't live in America anymore…because the jobs have been shipped over seas or the social standards of behavior have collapsed to such a sad low point your kids will get murdered if you try to send them to the local public schools.

Hell in modern America buying a $700,000 dollar house in Frisco will not even necessarily save your child from being stabbed to death at a school event by some low IQ/low impulse control psychopath


Bingo

It is not enough just to buy a house in order to have shelter.
Current realities involve buying a house where you and your family can SURVIVE.

Yeah, you can buy a house in East Saint Louis for a bargain price…..but it still isn't the common sense move.

I spent 13 years living in Bedford, OH there was a woman shot and killed by her BF not 4 blocks from my old house 2 weeks ago.

Never one time did I feel unsafe in my home.

I didn't buy just up the road in Solon because I couldn't afford to.

Someone mentioned Frisco. When I lived in DFW I live in Coppell, I wanted to live in Southlake because it was so much closer to my job but I couldn't afford to.

When I lived in Chicago I lived about 2 miles from where Prison Break was filmed and commuted easily 90 mins a day to my office which was across the street from Medina Country Club (we closed for PGA events) and I did that because I couldn't afford to live near the office.

I'm in my mid 40s, I've made 6 figures for the last 25 years and I finally bought a home I actually like about 40 days ago and even it is a compromise because I couldn't afford what I wanted nearer to my business.

This notion that you're going to go to college, get your first job and buy a 4/3 in Park Cities is utterly insane. Especially when you consider that people aren't getting married until much later in life which limits the amount of time you have dual income and no kids.


Your anecdotal story and false belief that young people are ONLY trying to buy upper middle class houses don't disprove the facts of this thread. Young people are not buying houses and can't afford to.
sombear
How long do you want to ignore this user?
Redbrickbear said:

sombear said:

Redbrickbear said:



How does this square with the fact that suburbs, exurbs, and many rural areas have grown much faster than cities?

Purely anecdotal, but I moved 7 times growing up, all in smaller midwestern towns - Indiana, Ohio, Central PA. Every one of those areas is booming. And affordable.

We've lived in Montgomery County for 16 years. It's one of the fastest growing counties in the US….


I would assume he is talking about towns & counties not close to booming metro areas or in one of the emerging mega regions.

No doubt Montgomery county Texas is doing well…same or the once small rural towns around Indianapolis Indiana or Columbus Ohio.

But a lot of parts of those states are seeing consistent decline and little to no job growth.

Old people just getting older…younger people moving away…decline as the constant



This map tracts close to those mega regions with strong growth.





That makes sense. And that map is fascinating.
cowboycwr
How long do you want to ignore this user?
FLBear5630 said:

cowboycwr said:

FLBear5630 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

There is a reason that you have traffic jams between 6-9 AM and 4-7 PM. People that are driving from where they can afford their preferred lifestyle to their jobs that pay for them. Everything has a cost. You can find good neighborhoods and nice bedroom communities, but you will drive. Or, you will pay to live in the Urban core.

Ever hear the term "Drive until you qualify"? Generations have made this choice going back to the 50's and 60's. Now, the current generation doesn't want to do it, so the Government has to help? Change the whole thing. All those "Boomers" that bought wisely, improved their property and stay for 20 years now they are supposed to just walk away with little profit. Nevermind many are counting on that for retirement.


No one is saying that the government has to help. Or at least I am not.

But your post highlights the problem. Boomers were able to buy a home in nice neighborhoods on one salary. Not even upscale areas but at least safe, good schools, etc.

Now one salary only seems to be able to buy homes in not good areas. Unless that one salary is very high.


One salary???? Ever hear of latch key kids, that was the boomers. My wife and I both worked our whole lives. She didn't want to be her Silent Generation mom, whose advice to her was her a career and don't give it up. Her mom was a farm wife.

She became a BSN nurse. Had kids, she worked nights for ten years, soon was home when they got home. They told me I needed a masters, I got one. Said you need Ops experience took a job in Ops in the Panhandle Needed experience, enlisted. Used a VA mortgage, zero down.

Now you want my house at cost? Pay your own dues...



Yes the example given that I replied to was done on one salary.

Your anecdotal evidence does not disprove the facts that have been presented in this entire thread.

No one wants your house. Young people are paying their dues but even once they do they are still behind the curve because the cost of everything has skyrocketed while pay has stayed relatively steady or slowly grown and all the things that older people did cannot be done the same way
FLBear5630
How long do you want to ignore this user?
cowboycwr said:

FLBear5630 said:

cowboycwr said:

FLBear5630 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

There is a reason that you have traffic jams between 6-9 AM and 4-7 PM. People that are driving from where they can afford their preferred lifestyle to their jobs that pay for them. Everything has a cost. You can find good neighborhoods and nice bedroom communities, but you will drive. Or, you will pay to live in the Urban core.

Ever hear the term "Drive until you qualify"? Generations have made this choice going back to the 50's and 60's. Now, the current generation doesn't want to do it, so the Government has to help? Change the whole thing. All those "Boomers" that bought wisely, improved their property and stay for 20 years now they are supposed to just walk away with little profit. Nevermind many are counting on that for retirement.


No one is saying that the government has to help. Or at least I am not.

But your post highlights the problem. Boomers were able to buy a home in nice neighborhoods on one salary. Not even upscale areas but at least safe, good schools, etc.

Now one salary only seems to be able to buy homes in not good areas. Unless that one salary is very high.


One salary???? Ever hear of latch key kids, that was the boomers. My wife and I both worked our whole lives. She didn't want to be her Silent Generation mom, whose advice to her was her a career and don't give it up. Her mom was a farm wife.

She became a BSN nurse. Had kids, she worked nights for ten years, soon was home when they got home. They told me I needed a masters, I got one. Said you need Ops experience took a job in Ops in the Panhandle Needed experience, enlisted. Used a VA mortgage, zero down.

Now you want my house at cost? Pay your own dues...



Yes the example given that I replied to was done on one salary.

Your anecdotal evidence does not disprove the facts that have been presented in this entire thread.

No one wants your house. Young people are paying their dues but even once they do they are still behind the curve because the cost of everything has skyrocketed while pay has stayed relatively steady or slowly grown and all the things that older people did cannot be done the same way


I beg to differ, the expectations of what they believe they should have is much different. Fly sometime, look around at the number of kids. They are paying full ticket for each. Ask how often they eat out. Look at the cars. Go to a gym, $79 a month. Pilates $199. Sorry, what I see is a different expectation for what they believe they should have. Went out with son, watched 20 something/30 something order rounds. Commented how much a night out would cost them, dropping $300 at a bar or concert without a thought and complained about not being able to afford a house? Concerts look around in a stadium who is there. How much is a smart phone bill? Streaming? There is alot of spending going on.

Going out once a month was a big deal when we were that age. Prices may be up, but lifestyles are not more frugal by a long shot.
cowboycwr
How long do you want to ignore this user?
FLBear5630 said:

cowboycwr said:

FLBear5630 said:

cowboycwr said:

FLBear5630 said:

cowboycwr said:

nein51 said:

FLBear5630 said:

nein51 said:

KaiBear said:

nein51 said:

KaiBear said:

Three of our single family rentals came due for their contract renewals.

For the first time in several years we did not increase the rent on any of the houses involved.

As the demand for rentals has dramatically eased off and the number of houses available for sale has increased. Home prices have dropped by at least 10%.

Jobs are still plentiful here, but most are low paying ( under 35 dollars an hour ). Suspect many people are moving in with family or friends to save money.

Without a significant drop in interest rates the real estate market is about to get crushed. Surprised it has taken this long.

In no world except California, NYC and maybe Chicago is $35/hr low paying.


How much house can one purchase with an income of 35 dollars an hour and mortgage rates of 6.5% ?

I have no idea. That's $72k a year so around $1,700/mo which should fall somewhere in the mid $200k range which is very doable in my area.

That's said the majority of households are dual income so around $3500/mo which will get you in the low to mid 400k

The key thing you said was "in your area".

Younger generations won't move somewhere for a job or for better economics. They want to live where they want to live. My daughter lives in Boston. He fiance will not move from Boston. You need some serious bank to buy in Cambridge or Lexington.


Sure. Ok. Whose problem is that? They can either sit online and ***** or they can move. I can tell you which one is productive and which one isn't.


The "just move" option is not always an option. Especially right now with the job market the way it is. It can take a lot of money to move. If you are meaning just move small areas like from Hewitt to Waco that is different.

There is a reason that you have traffic jams between 6-9 AM and 4-7 PM. People that are driving from where they can afford their preferred lifestyle to their jobs that pay for them. Everything has a cost. You can find good neighborhoods and nice bedroom communities, but you will drive. Or, you will pay to live in the Urban core.

Ever hear the term "Drive until you qualify"? Generations have made this choice going back to the 50's and 60's. Now, the current generation doesn't want to do it, so the Government has to help? Change the whole thing. All those "Boomers" that bought wisely, improved their property and stay for 20 years now they are supposed to just walk away with little profit. Nevermind many are counting on that for retirement.


No one is saying that the government has to help. Or at least I am not.

But your post highlights the problem. Boomers were able to buy a home in nice neighborhoods on one salary. Not even upscale areas but at least safe, good schools, etc.

Now one salary only seems to be able to buy homes in not good areas. Unless that one salary is very high.


One salary???? Ever hear of latch key kids, that was the boomers. My wife and I both worked our whole lives. She didn't want to be her Silent Generation mom, whose advice to her was her a career and don't give it up. Her mom was a farm wife.

She became a BSN nurse. Had kids, she worked nights for ten years, soon was home when they got home. They told me I needed a masters, I got one. Said you need Ops experience took a job in Ops in the Panhandle Needed experience, enlisted. Used a VA mortgage, zero down.

Now you want my house at cost? Pay your own dues...



Yes the example given that I replied to was done on one salary.

Your anecdotal evidence does not disprove the facts that have been presented in this entire thread.

No one wants your house. Young people are paying their dues but even once they do they are still behind the curve because the cost of everything has skyrocketed while pay has stayed relatively steady or slowly grown and all the things that older people did cannot be done the same way


I beg to differ, the expectations of what they believe they should have is much different. Fly sometime, look around at the number of kids. They are paying full ticket for each. Ask how often they eat out. Look at the cars. Go to a gym, $79 a month. Pilates $199. Sorry, what I see is a different expectation for what they believe they should have. Went out with son, watched 20 something/30 something order rounds. Commented how much a night out would cost them, dropping $300 at a bar or concert without a thought and complained about not being able to afford a house? Concerts look around in a stadium who is there. How much is a smart phone bill? Streaming? There is alot of spending going on.

Going out once a month was a big deal when we were that age. Prices may be up, but lifestyles are not more frugal by a long shot.



Again. Anecdotal evidence disproved by the facts of this thread.
 
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