Affordability discussion (split from Iran thread)

#226
#226
85SugarVol said:
Your anecdote is unconvincing.

Don’t try and sell you? Sell you what? I said nothing of the sort - so you can shove that and get bent.

There are perfectly reasonable starter homes out there to be had. They clearly dont match up with the “wants and desires” of the young people sampled in that survey.

If you want to get pissy… get pissy with them.
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Median annual salary for a 30 yo in America right now is around $59,000 or about $1,100/week. What homes are available for someone who has probably financed a car for around $500 per month ($350/month if you go dirt cheap), full coverage insurance $150-$250 per month, maybe a student loan (average monthly payment $200-300), utilities which average $400-600 per month, maybe a small credit card with a limit under $5000, paying 22% in taxes, probably $300-$500 for health insurance premiums, gas, groceries… What can the average 30 yo making an average salary paying average bills afford?
 
#227
#227
OHvol40 said:
Median annual salary for a 30 yo in America right now is around $59,000 or about $1,100/week. What homes are available for someone who has probably financed a car for around $500 per month ($350/month if you go dirt cheap), full coverage insurance $150-$250 per month, maybe a student loan (average monthly payment $200-300), utilities which average $400-600 per month, maybe a small credit card with a limit under $5000, paying 22% in taxes, probably $300-$500 for health insurance premiums, gas, groceries… What can the average 30 making and average salary paying average bills afford?
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Cmon man. If you're gonna make a huepel-thetical, make it realistic.
 
#230
#230
OHvol40 said:
Median annual salary for a 30 yo in America right now is around $59,000 or about $1,100/week. What homes are available for someone who has probably financed a car for around $500 per month ($350/month if you go dirt cheap), full coverage insurance $150-$250 per month, maybe a student loan (average monthly payment $200-300), utilities which average $400-600 per month, maybe a small credit card with a limit under $5000, paying 22% in taxes, probably $300-$500 for health insurance premiums, gas, groceries… What can the average 30 yo making an average salary paying average bills afford?
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not disagreeing with anything you said here, but if your utilities average $400-600 a month you got issues. I just got my MLGW bill and it was $144 for 2800 sq ft.

Nvmd. I see you used national averages. I can't imagine paying $600 for utilities.
 
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#232
#232
theFallGuy said:
not disagreeing with anything you said here, but if your utilities average $400-600 a month you got issues. I just got my MLGW bill and it was $144 for 2800 sq ft.

Nvmd. I see you used national averages. I can't imagine paying $600 for utilities.
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I live in PA and pay probably around that much on average.
 
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#233
#233
85SugarVol said:
Good for you and your wife. That’s fantastic.

We are doing our best to instill in our girls a strong work ethic, respect for the value of money, and understanding that nothing is free in this world.

The 9 year old has to “pay” for the inputs for any lemonade stand activities, we set pricing, and then calculate profits (it’s fun). Proceeds are then split between savings and something fun.
The 6 year old collects cans. She likes to crush them, but definitely understands she can get money for them.

That being said…. We will absolutely afford them every opportunity/boost/leg up/advantage/head-start we can. And won’t feel the least be guilty about doing so.
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My suggestion, teach them that cars should be viewed similar to cast iron cookware or a craftsman socket set. You need a car to get you to work, you don't need to work to have a car- it's not a status symbol, it's a tool. I bought a cheap wrecked/rebuilt title 3 year old Honda accord and paid it off in 2 years, drove it for 14.5 years. Bought another that was 3 years old, paid it off in 2 years and drove it 14 years. So I only had a car payment for 4 out of 28.5 years. When kids ask me "how can we get ahead" cars is the first place I start.

I had a couple I was working with that just couldn't understand why they couldn't afford a home. Her car payment was $1100 per month, his was $900 per month. I said, "well, a couple things jump out at me...."
 
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#235
#235
OHvol40 said:
It would fit the majority of my personal acquaintances as of about 12 years ago. I went out of my way not to include anything out of the ordinary. How would you profile the fictional person?
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The profile is of someone who is making multiple bad decisions.

Google says:
single person utility is $140 -$300. You've got them at twice that amount.

Tax bill for them is 4k to 9k. You've got them at 13k.

And a pet peeve of mine, a person going into college debt for a median wage. That's gonna catch up to them. I have friends who's kids are dropping 200k in college for an elementary education degree 🤯
 
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#237
#237
OHvol40 said:
Median annual salary for a 30 yo in America right now is around $59,000 or about $1,100/week. What homes are available for someone who has probably financed a car for around $500 per month ($350/month if you go dirt cheap), full coverage insurance $150-$250 per month, maybe a student loan (average monthly payment $200-300), utilities which average $400-600 per month, maybe a small credit card with a limit under $5000, paying 22% in taxes, probably $300-$500 for health insurance premiums, gas, groceries… What can the average 30 yo making an average salary paying average bills afford?
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Why would a 30yo with a college degree be making less than $28hr?
 
#238
#238
McDad said:
The profile is of someone who is making multiple bad decisions.

Google says:
single person utility is $140 -$300. You've got them at twice that amount.

Tax bill for them is 4k to 9k. You've got them at 13k.

And a pet peeve of mine, a person going into college debt for a median wage. That's gonna catch up to them. I have friends who's kids are dropping 200k in college for an elementary education degree 🤯
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Guess what, young people make bad choices. It’s actually a defining factor for most. Young people have also been encouraged to attend college for generations, because it’s largely perceived as the best path for upward mobility.

Nothing about what I presented is unrealistic or uncommon. So the question remains, what can that person afford?
 
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#239
#239
MurphyVol said:
My suggestion, teach them that cars should be viewed similar to cast iron cookware or a craftsman socket set. You need a car to get you to work, you don't need to work to have a car- it's not a status symbol, it's a tool. I bought a cheap wrecked/rebuilt title 3 year old Honda accord and paid it off in 2 years, drove it for 14.5 years. Bought another that was 3 years old, paid it off in 2 years and drove it 14 years. So I only had a car payment for 4 out of 28.5 years. When kids ask me "how can we get ahead" cars is the first place I start.

I had a couple I was working with that just couldn't understand why they couldn't afford a home. Her car payment was $1100 per month, his was $900 per month. I said, "well, a couple things jump out at me...."
Click to expand...

I once told a couple (sons friends) who were complaining about daycare costs and such that she should quit work and stay home with the kids. Between daycare, her car payment, gas ext they were paying for her to work. That went over like a lead balloon.
 
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#241
#241
OHvol40 said:
Guess what, young people make bad choices. It’s actually a defining factor for most. Young people have also been encouraged to attend college for generations, because it’s largely perceived as the best path for upward mobility.

Nothing about what I presented is unrealistic or uncommon. So the question remains, what can that person afford?
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The profile is a person in their 30s bro.
How many years are they young?

Even ppl who make 100k but make bad choices can't afford anything either.
 
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#244
#244
McDad said:
The profile is a person in their 30s bro.
How many years are they young?

Even ppl who make 100k but make bad choices can't afford anything either.
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I’m in school to be a doctor of psychiatry so I’ll probably struggle til I’m done but hopefully the pay off at the end is worth it
 
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#247
#247
YankeeVol said:
I would not have have kids any later than we did. I'm 42 (in a week and a half) and ours are 12 & 8 (going on 13 & 9). I actually want(ed) to be able to enjoy grandkids.
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There's nothing like getting to enjoy grandkids, imo. Ours just turned 11 months and she's been one of the best blessings in our lives.
 
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#248
#248
OHvol40 said:
Are you just going to nitpick every detail or do you care to weigh in on the larger premise?
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The larger premise is this: bad decisions do not facilitate home ownership.

I feel like I am being realistic since I rent to people who make less than your profile and who have moved into ownership.
 
#249
#249
McDad said:
U pay 7200 a year in utilities??? (Elec, water, sewer, sanitation)
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The average for just electricity in Pittsburgh so far in 2026 comes to $3200/year. Gas, water, garbage, etc would bring that total close. I prob payed about $6500 last year, but I’ll have to look.
 
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