Affordability discussion (split from Iran thread)

#51
#51
LouderVol said:
my 1200 squarefoot house built in 1959 cost me north of 300k. please tell me how my house got bigger or nicer somehow to justify the cost increase.

don't worry, I am sure you can explain to an architect how the same building got sooo much better.

some important caveats. I had to put in about 30k in improvements before I could even move in. Got asbestos removed, repaired damaged foundation, replaced the driveway, and replaced the wiring in about half of the house.

I have sense spent about another 30k in upgrading appliances, buying a new roof, and a number of other updates to get with the time.
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where do you live?
 
#52
#52
Ttucke11 said:
Once again irrelevant. You get into this stupid arguments based on semantics. I'll let the math talk. No matter how you dice it, it's much more difficult today. I'm sorry that hurts your feelings so badly.

Average household income
1960 $5,600
1980 $21,000
2000 $42,000
2026 $78,000

Average home cost
1960 $11,900
1980 $47,000
2000 $ 119,000
2026 $ 420,000

Income to price ratio
1960 2.1x
1980 2.2x
2000 2.8x
2026 5.4x

You're welcome. Once again, it's not an argument. Its a fact that younger generations financially have a much tougher time regardless of their financial acumen as base shelter and living costs are much higher than they were in previous decades when accounting for their actual spending power. Not an argument.
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That should read 'Price to Income Ratio", but your point is 100% valid.
 
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#53
#53
Smokey123 said:
The big thing isn’t even comparing today to the 90’s or even 00’s. Young people that were getting close to the age of buying houses literally saw house prices double basically over night after Covid
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The world changed permanently after Covid, and not for the better. People are more isolated and depressed in the US than before (depression rates are historically high). Housing and cost of living have gone crazy post COVID (mass inflation due to Trump stimulus handouts). Mass surveillance, AI scanning chats for pre-crimes, digital/government ID for internet access, etc are all realities now.

Things are heading downhill so fast it’s hard to wrap my head around it.
 
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#55
#55
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#57
#57
LouderVol said:
compared to the market it was worth it. I am not angry about what I bought. just pointing out prices haven't gone thru the roof because everything is bigger/newer/nicer. there were far more outside factors playing into cost increases than the fiber optics being ran by the utility company you think added 200k in value.
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I'm waiting for him to show me the HVAC system I can buy that'll add another few dozens of Ks onto my townhouse.
 
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#58
#58
ButchPlz said:
I see a future at some point where we have to pay for all we're doing. What generation gets to eat that **** sandwich?

If you think the course we're on is sustainable you're an idiot. Sorry.
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You're not wrong, the course we're on is not sustainable but we've been on that course for over 75 years, probably over a 100.
 
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#59
#59
ButchPlz said:
Don't forget, one neighborhood has young people moving into it (take that guy's word for it, that's all that's moving in).
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East Germantown. Dude is comparing the extreme upper end of old millennials to the average millennial and Gen Zer. Yea, no **** some trust fund kids can afford a house. Shocker.
 
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#63
#63
Ttucke11 said:
I mean that's cute and all but I have small children and I'm watching the world crumble around us. So excuse me for being concerned about the future.
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I have small children as well.

I wake up terrified every night in cold sweats. Just kidding, they’re gonna be just fine. So are your little ones.

Gen Z is ultimately gonna be just fine.
Gen A is ultimately gonna be just fine.

Boomers were the Hippies that were convinced the prior generation was gonna blow up the Earth and doom us all.
 
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#64
#64
Ttucke11 said:
I know man, people in here acting like 2020 and 2021 didn't happen. I bought my house February of 2020 right before the explosion.

I signed on the dotted line for 219K.

Zillow says my house is worth 398K exactly 6 years and 1 month later.

If I was 6 years younger I couldn't afford the house I'm in which is nice but not extravagant. You're right though the comparison isn't even 2000 to 2026 it's 2019 to 2026 almost doubling. Unsustainable.
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Some parts of the country have seen a decline in house prices. I'm assuming most posters here live in the south so yeah, young people just getting started around 2020 got screwed.
 
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#65
#65
Ttucke11 said:
East Germantown. Dude is comparing the extreme upper end of old millennials to the average millennial and Gen Zer. Yea, no **** some trust fund kids can afford a house. Shocker.
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Bwaaaaaaa you think Germantown is “trust fund” territory???

And early 30’s couples are “old millennials”?
 
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#66
#66
85SugarVol said:
I’m “tail end” of Gen X, a stones throw from the early Millennials, and am doing great. Thanks.

So are all of the young Millennials moving into our East Germantown neighborhood. They’re popping out kids and gobbling up 4k sq ft homes like it’s their job (or their future, dunno).
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To be fair you can’t compare East German town to the average Gen Z and young millennial
 
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#69
#69
Ttucke11 said:
East Germantown. Dude is comparing the extreme upper end of old millennials to the average millennial and Gen Zer. Yea, no **** some trust fund kids can afford a house. Shocker.
Click to expand...

ButchPlz said:
100% chance this self made man started out on daddy's money.
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These posts do give me some insight into your likely perspective on things. I’ll stop.
 
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#70
#70
85SugarVol said:
I have small children as well.

I wake up terrified every night in cold sweats. Just kidding, they’re gonna be just fine. So are your little ones.

Gen Z is ultimately gonna be just fine.
Gen A is ultimately gonna be just fine.

Boomers were the Hippies that were convinced the prior generation was gonna blow up the Earth and doom us all.
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We can agree to disagree. I hope your optimism shines through, but these times are quite a bit different. The technological jump can't be disregarded as frivolous and all the ramifications that will come of that. The data trends showing the loss of spending power is a real thing.

Will they be just fine? Possibly, I hope so. But throwing your hands up and saying yes it's all the same, is quite ignorant and very dismissive of the problems the future generations will face. Bc it won't be the same ones you faced, or I faced.
 
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#72
#72
Ttucke11 said:
We can agree to disagree. I hope your optimism shines through, but these times are quite a bit different. The technological jump can't be disregarded as frivolous and all the ramifications that will come of that. The data trends showing the loss of spending power is a real thing.

Will they be just fine? Possibly, I hope so. But throwing your hands up and saying yes it's all the same, is quite ignorant and very dismissive of the problems the future generations will face. Bc it won't be the same ones you faced, or I faced.
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It’s not the “same”, that’s a mischaracterization.

Every generation has faced new and novel challenges compared to the generation that came before. That’s always been true.

And yes, they will be fine.

Even without the absolutely massive balloon coming down, they’ll be fine.
 
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#75
#75
I get the joke and I guess I'm being throw in with the liberals, but a quick scan of East Germantown housing prices....yea I'm sticking with my take that millennials in their early 30s with kids are definitely receiving some major parental kickbacks to have the ability to live there 😂
 
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