A huge percent of young generation will never own a house

[Orion1349]

no one's arguing that

So its normal and acceptable for housing costs to triple in 8 years while incomes go up by 15%?

[BigDeeps01]

So its normal and acceptable for housing costs to triple in 8 years while incomes go up by 15%?

[
No it's not

However, housing costs were extremely low with the low interest rates. They had to catch up at some point

[BigDeeps01]

80k is median national household income


30 year olds make below avg income cause they're only about 7 years into their career


What starter home dude? The cheapest house in illinois is about 350k. That's still a 2800ish payment. Medium house in illinois is 450k, which is 3300ish payment. How does someone making 5k take home afford a 2800 payment?

Move out of Illinois? You live in a high cost of living area. If you can't get a high income job to match, it's time to move. Plenty of places in the US where you can get a nice starter home for 150-200k and work remote

[LaCosaNostra90]

*never own a home in a high cost of living area*

best thing you can do as a young person is move to a place with a low cost of living

the city I live in has around 100k residents, average household income is 150-180k and average house price is like 450-500k (detached home). Can get a duplex or townhouse for 300-400k

very accessible

[Orion1349]

*never own a home in a high cost of living area*

best thing you can do as a young person is move to a place with a low cost of living

the city I live in has around 100k residents, average household income is 150-180k and average house price is like 450-500k (detached home). Can get a duplex or townhouse for 300-400k

very accessible

This is a super rare situation. The vast majority of high income cities in America have houses in 600-2mil range


Truthfully speaking, even making 150k and buying a 500 house is not some great situation nowadays. 150K is 9K a month after taxes. 500k house at 7% interest is like a 3800 payment. That's still close to half your income on a mortgage.

[Orion1349]

Move out of Illinois? You live in a high cost of living area. If you can't get a high income job to match, it's time to move. Plenty of places in the US where you can get a nice starter home for 150-200k and work remote

Not everybody works remote. You can't ask everybody to move to bumfuk alabama in middle of nowhere in order to be able to afford a house. You know that's ridiculous. Neither me nor my wife work remotely for example

[LaCosaNostra90]

This is a super rare situation. The vast majority of high income cities in America have houses in 600-2mil range


Truthfully speaking, even making 150k and buying a 500 house is not some great situation nowadays. 150K is 9K a month after taxes. 500k house at 7% interest is like a 3800 payment. That's still close to half your income on a mortgage.

its actually 2200 a month with 20% down. or 2700 a month with 5% down. That's at Canadian interest rates though that are just over 5%

[DeadlyStriker]

Not everybody works remote. You can't ask everybody to move to bumfuk alabama in middle of nowhere in order to be able to afford a house. You know that's ridiculous. Neither me nor my wife work remotely for example

These are the responses that blow my mind. It's the same with income. "Well just work harder and find a better job dufus!!!"

People cannot wrap their minds around macroeconomics. They immediately apply it to single or small scale thinking. Yea guess what, a small percentage of people can thrive by moving to a lower cost of living area somewhere in the US. BUT....that's not a macro systemic solution. It's almost ridiculous to even make that point in this conversation. Whatever solution you think you have...you have to apply it for everybody in the macro problem. So not everyone can move and do that. That's not how job markets work, that's not how cost of living works, etc. Everyone did that with Idaho and now Idaho is completely unaffordable lmao.

Sometimes I wonder how many people have ever removed themselves and thought about about a topic deeply. How many people can actually critically think because the misc is failing me lately within that idea.

[theory816]

Yes my friend and me was discussing this today. Either you buy a few years ago or you learn how to build houses. The price of houses increased crazily over a couple of years, even in the chit areas of town.

[Maestro]

There is a bunch of new housing development taking place in Nevada. They're all cookie-cutter 3be/2ba McMansions that are advertised FOR RENT.

I was kinda shocked when I saw it.

[mrdot]

When I was a kid I grew up living in the same house in a rich neighborhood for 20 years

I thought we were paying to buy the house
Turns out, the entire time she was renting from her best friend who was basically having the house paid off via my mom renting

Eventually she sold the place, new owners wanted 4k a month or something

While everyone I went to school with is now in a nice paid off house by their parents, i can't even rent a place by myself

[ATB1799]

its actually 2200 a month with 20% down. or 2700 a month with 5% down. That's at Canadian interest rates though that are just over 5%

You guys have cheap state property taxes and rates. Rates in US are around 7% and property taxes are outrageous


Lot of houses around here are 10-15k property taxes

[LaCosaNostra90]

You guys have cheap state property taxes and rates. Rates in US are around 7% and property taxes are outrageous


Lot of houses around here are 10-15k property taxes

Just looked up property tax in Michigan and on a 500k house it's 20k a year? is that for real LOL


I pay 6k a year on 500k assessed value and that's one of the highest property tax regions in the country

[ParsleyTea]

It is one of the reasons why so many Americans are moving out of blue states to red states. Unaffordable housing is largely a problem found in blue states due to blue states not allowing permits for housing to be built, and high regulation requirements making housing more expensive.. As a result I believe blue states will be growing older, as younger Americans move to red states where generally more affordable housing and greater work opportunities can be found.

[BigDeeps01]

Not everybody works remote. You can't ask everybody to move to bumfuk alabama in middle of nowhere in order to be able to afford a house. You know that's ridiculous. Neither me nor my wife work remotely for example

That's ok, then if you aren't willing to move you have to work more and wait

Home ownership isn't for everyone. It's hovered in the 60-70% range basically forever in the US

We are still a very high % ownership country compared to most

[Godfrd824]

Anyone who says they'll never own a house, they're 100% right.

[FAPhaggot]

These are the responses that blow my mind. It's the same with income. "Well just work harder and find a better job dufus!!!"

People cannot wrap their minds around macroeconomics. They immediately apply it to single or small scale thinking. Yea guess what, a small percentage of people can thrive by moving to a lower cost of living area somewhere in the US. BUT....that's not a macro systemic solution. It's almost ridiculous to even make that point in this conversation. Whatever solution you think you have...you have to apply it for everybody in the macro problem. So not everyone can move and do that. That's not how job markets work, that's not how cost of living works, etc. Everyone did that with Idaho and now Idaho is completely unaffordable lmao.

Sometimes I wonder how many people have ever removed themselves and thought about about a topic deeply. How many people can actually critically think because the misc is failing me lately within that idea.

Grew up there and I'm never moving back.

BRB median income in suburban Boise (Meridian, ID for you "source pls" fhags) is $42K.

BRB median home price is $550K @ 7%.

It is literally California level unaffordable now.

[surf junkie]

this. i used to grow up and think the old people were bitter, but hitting my 30s, i understand now.

fuk them. i'm not responsible for their wellbeing. they don't care about me, neither do i care about them

this culture simply gets demographically replaced by more reproductive/cross-generational cultures. you will find soon in your city the most popular baby name will be Mohammad. you will find, for instance in Paris, Brussels, Frankfurt and Munich, 70% of under-6 children are Muslim.

your opinion is fine, just know that it will die with you

[LargePeter]

Not everyone is entitled to own land or property. Been that way for thousands of years. That’s why those of us who get to do so are referred to as LandLORDs.

[theory816]

Not everyone is entitled to own land or property. Been that way for thousands of years. That’s why those of us who get to do so are referred to as LandLORDs.

When I wuz door knocking n shi for my chitty lawn mowing biz(which btw I have yet to have a customer lol), these fookers couldn't even afford to git they lawn mowed n shi. They don't take care of their stuff. Should have the gov repo they shi srs.

[LargePeter]

When I wuz door knocking n shi for my chitty lawn mowing biz(which btw I have yet to have a customer lol), these fookers couldn't even afford to git they lawn mowed n shi. They don't take care of their stuff. Should have the gov repo they shi srs.

No one wants an Asian gardener when they could have a Messican srs

Open a take away shop

[theory816]

No one wants an Asian gardener when they could have a Messican srs

Open a take away shop

Nika please.

[SeymourGains]

About to close on his number 4

Single income

Houses are for living in. You're going to die and live in non of them at some point

[theory816]

Houses are for living in. You're going to die and live in non of them at some point

Cope. It can be an asset that will outlive you.

[SeymourGains]

Cope. It can be an asset that will outlive you.

Maybe western society would be better if capital wasn't the main objective

[theory816]

Maybe western society would be better if capital wasn't the main objective

Cope. No money equals living in the streetz.

[Polaris]

These are the responses that blow my mind. It's the same with income. "Well just work harder and find a better job dufus!!!"

People cannot wrap their minds around macroeconomics. They immediately apply it to single or small scale thinking. Yea guess what, a small percentage of people can thrive by moving to a lower cost of living area somewhere in the US. BUT....that's not a macro systemic solution. It's almost ridiculous to even make that point in this conversation. Whatever solution you think you have...you have to apply it for everybody in the macro problem. So not everyone can move and do that. That's not how job markets work, that's not how cost of living works, etc. Everyone did that with Idaho and now Idaho is completely unaffordable lmao.

Sometimes I wonder how many people have ever removed themselves and thought about about a topic deeply. How many people can actually critically think because the misc is failing me lately within that idea.

This is all true, and I have a house myself...but I'm able to understand that things are fuked and a lot of people have it bad. Some people love to bury their heads in the sand it seems.

[r32gojirra]

Not everyone is entitled to own land or property. Been that way for thousands of years. That’s why those of us who get to do so are referred to as LandLORDs.

^^^

Take note kings

[ATB1799]

Just looked up property tax in Michigan and on a 500k house it's 20k a year? is that for real LOL


I pay 6k a year on 500k assessed value and that's one of the highest property tax regions in the country

Dude there are little condos/townhouses here that are 7k property tax and 5k a year in HOA


You're talking 3k payment on townhouses that were 900 a month 8 years ago

[LargePeter]

Houses are for living in. You're going to die and live in non of them at some point

Income stream, tax write offs and equity to increase asset portfolios

Oh no, turrible