How are first time home buyers buying a house nowadays???

[DDCT1135]

Is everyone just living at home with parents until they're 35 or renting an apartment with 5 roommates???



The avg house price in America nowadays is about 400-500K. Assuming a generous 20% payment (which the majority of 27 year olds can't even afford anyways but we'll say so for the sake of this argument), that's about a 3K to 3500 mortgage depending on how high your property taxes are



How does the avg 27 - 28 year old couple afford that considering the median household income in america is 60K (which is about 3500 a month after taxes)??? Has the government basically made all of America like california now where houses are totally unaffordable?

[LtGoose]

Yes.

[desslok]

Is everyone just living at home with parents until they're 35 or renting an apartment with 5 roommates???



The avg house price in America nowadays is about 400-500K. Assuming a generous 20% payment (which the majority of 27 year olds can't even afford anyways but we'll say so for the sake of this argument), that's about a 3K to 3500 mortgage depending on how high your property taxes are



How does the avg 27 - 28 year old couple afford that considering the median household income in america is 60K (which is about 3500 a month after taxes)??? Has the government basically made all of America like california now where houses are totally unaffordable?

Here in California its like $870k

[DDCT1135]

Here in California its like $870k

so that's about a 7K mortgage. How does the avg person afford it?

[ErnieMccracken]

Within our lifetimes, the home ownership rate will crash down to 10%-15% srs. Corporations are going to eventually own it all and most people will be rentcels for life.

[DDCT1135]

Within our lifetimes, the home ownership rate will crash down to 10%-15% srs. Corporations are going to eventually own it all and most people will be rentcels for life.

I don't think that's the case. All the current houses will be passed down to their kids, keep that in mind

[ErnieMccracken]

I don't think that's the case. All the current houses will be passed down to their kids, keep that in mind

Only a minority will be able to afford that, or rather will die quickly enough to avoid the medical system taking them. Boomers houses will largely be sold or reverse mortgage'd and eventually go to mega corps.

[ThatGuy950]

I don't think that's the case. All the current houses will be passed down to their kids, keep that in mind

they’ll be taxed out intentionally

Home ownership for goy will be a thing of the past

[Destor]

Dual income and why is someone buying a full house if they’re not with another person and likely planning for kids

I barely even use two of the bedrooms in my house right now, and I have a woman and two dogs

[desslok]

so that's about a 7K mortgage. How does the avg person afford it?

Honestly no idea. Where I live the numbers make no sense. Its like the average home prices are $800-900k but average household income is like $80-120k

https://www.upnest.com/1/post/cost-of-living-san-diego/

[DDCT1135]

Dual income and why is someone buying a full house if they’re not with another person and likely planning for kids

I barely even use two of the bedrooms in my house right now, and I have a woman and two dogs

the avg household income with 2 earners is 60-70k in america. That's 4K a month after taxes

[DDCT1135]

Honestly no idea. Where I live the numbers make no sense. Its like the average home prices are $800-900k but average household income is like $80-120k

https://www.upnest.com/1/post/cost-of-living-san-diego/

California has always had insane ratios like this


the current government has made it to where the whole country is cali

[Destor]

the avg household income with 2 earners is 60-70k in america. That's 4K a month after taxes

Official median household income data are pretty lagged, but Google sources have late 2022 to 2023 median household income at more like $80k+

House prices don’t go up if there aren’t people who can afford to pay the prices

[AccountingMajor]

Is everyone just living at home with parents until they're 35 or renting an apartment with 5 roommates???

Yes, with Mexicans I live near there are like 10 people living in an apartment in multiple apartments.

The avg house price in America nowadays is about 400-500K. Assuming a generous 20% payment (which the majority of 27 year olds can't even afford anyways but we'll say so for the sake of this argument), that's about a 3K to 3500 mortgage depending on how high your property taxes are

Where I live, in SD, you can almost buy a mobile home in a trailer or a condo for those prices. Those prices are for Temecula, but there are zero high paying jobs over there.

The prices for places most people want to move is closer to 1M. Not me, I want to go to the Midwest.

How does the avg 27 - 28 year old couple afford that considering the median household income in america is 60K (which is about 3500 a month after taxes)??? Has the government basically made all of America like california now where houses are totally unaffordable?

They live in an apartment for the rest of their lives unless you room up with family.

[desslok]

California has always had insane ratios like this


the current government has made it to where the whole country is cali

I remember a long time ago I wanted to move to Pacific Grove, which is not far from Carmel and Monterey CA. Back when i was looking like 10+ years ago the average home prices were like $750k and the average household income was like $45k. Try and do that math! Basically it was just mainly older people that bought their homes 30-40 years ago.

[2004Miscer]

The system is poised perfectly so 2 parents have to work and either:

Their kids need to be raised by the poison public schooling system
they don't have any kids at all.

so the rich get richer and lower middle class stay there

[ErnieMccracken]

I remember a long time ago I wanted to move to Pacific Grove, which is not far from Carmel and Monterey CA. Back when i was looking like 10+ years ago the average home prices were like $750k and the average household income was like $45k. Try and do that math! Basically it was just mainly older people that bought their homes 30-40 years ago.

Brah I looked at home prices in Monterey and noped the fukk out srs. Love that town, I could live in peace there forever.

[goonsondeck]

The system is poised perfectly so 2 parents have to work and either:

Their kids need to be raised by the poison public schooling system
they don't have any kids at all.

so the rich get richer and lower middle class stay there

brutal truth

[Visel]

I live in a lower-med CoL area. There's houses in some upcoming areas nearby built within 0-3 years ago that are ~1600 sqft 3/2 with a garage that are $350k-400k. If I put in $25k for one on the cheaper end, it's "only" $2800/mo including fees, home owners insurance, PMI, property taxes, and HOA. If I went and did 20% it would be closer to $2200/mo.

Median household income in my area is like $58k. So that would be like 55% of their take home pay with 20% down. Pretty messed up.

[2004Miscer]

^^^

Your mortgage/rent to live comfortably should be 30% max of your income, 55% is scary.

[niospecv]

they’ll be taxed out intentionally

Home ownership for goy will be a thing of the past

a trust has entered the chat. Not even filthy joos/rabbis can break a trust.

[r32gojirra]

Is everyone just living at home with parents until they're 35 or renting an apartment with 5 roommates???



The avg house price in America nowadays is about 400-500K. Assuming a generous 20% payment (which the majority of 27 year olds can't even afford anyways but we'll say so for the sake of this argument), that's about a 3K to 3500 mortgage depending on how high your property taxes are



How does the avg 27 - 28 year old couple afford that considering the median household income in america is 60K (which is about 3500 a month after taxes)??? Has the government basically made all of America like california now where houses are totally unaffordable?

*laughs in Sydney eastern suburbs*

[ErnieMccracken]

*laughs in Sydney eastern suburbs*

Love this Sydney brah turning down $50M for this single lot. Only thing he hates more than money is landscaping, apparently.

[bfdehewdbyywhn]

by squatting

[IPoopStandingUp]

Gotta have an onlyfans to afford these houses

[Trillical]

I don't think that's the case. All the current houses will be passed down to their kids, keep that in mind

What kids? Have you seen the current birth rates in USA?

[bongowongo]

What kids? Have you seen the current birth rates in USA?

That's why you gotta ship in more Indians, Chinese, Arabs and Mexicans to get the birth rates going.

[EnderG60]

I lived at home until I was 27. From 24-27 I saved every cent I had and got a house.

[TryingMen]

Just be rich

[Polaris]

I live in a lower-med CoL area.

Same + I'm frugal and don't really give a fuk about material things, so managed to find something pretty good (though a bit older) for a relatively low price + got it when interest rates were still really low.

For a whole lot of people - it's going to be very rough out there. I thought the Golden Bull, and various other rentcels, assured us that housing prices were going to crash epicly.