When Will Houses Go Back To Fukkin Normal Prices????

[dora_da_destroyer]

Where the jobs at?

A lot of people can afford high mortgages?

And your answer for affordable housing is to get a remote job and move to a small town?

What percentages of available jobs is remote?

Thank you. People tend to skip over a lot of these cheap places are cheap because they aren’t job centers - they have poor job prospects, you got 2 hour commutes one way to the nearest job center, when you move there you’re going to be paid commensurate local wages which makes affordability relative in most cases, and there are only so many remote jobs available and shyt ton of people applying to each one, and of the remote jobs, it may be like 5-10% that won’t adjust your pay down for living in a LCOL area. This ain’t 2020 when the finesse was taking your California, DC, NY, Seattle, Boston pay and moving to Idaho, Utah, Texas and Florida.

 

[dora_da_destroyer]

No the answer is to play the game. Stop trying to fight it, you will only keep losing more time. Get in now. Buy something, anything. Join the military get a VA loan. Stop trying to live in cities you can't afford. There will never be affordable housing in these cities. Move to a smaller city. Topeka Kansas starter home 80k. But yall don't want to live in Kansas. You will make up some BS excuse. As long as there is a strong demand in big cities prices will never drop. Sacrifice 4 years to get a zero down home loan for life. But yall scared to join the military. 4 short years huge benefit. The military is going to get theirs so you need to get yours. Land and property have real value. No one is going to hand it to you cheap.

How many jobs are in Topeka Kansas? What’s the average income? Is the 80k home a fukkin trap house or is it a neighborhood people would feel safe coming home to and raising a kid in? Most people looking to buy are 30-40, not necessarily the prime age for “guess I should say fukk off to the career I’ve been building and the college education I got, and join the army for four years so I can hope to buy a home”

 

[Kornball The Conqueror]

after the dallas cowboys win a superbowl

 

[dora_da_destroyer]

What's your solution? Complain? No one cares. At least my solution is tangible and gets results. Your solution gets you nothing but rent for life. Like I said excuses for days.

Cooperative economics - people need to get married again or have serious partnerships. Don’t want that? cool, maybe you and your brother/sister or best friend(s) buy a place together. nikkas posted an article about single women buying places together last year and LOL’ed at the “lonely bytches”, but those women are choosing ownership and wealth building by getting in where they fit in. Too many people want to be 100% on their own and also move up in a world that stacked against the average person and where one of the proven best ways to have any hope in the game is pooling resources

 

[Gritsngravy]

while we on this topic I just want to point out redlining was one of the many sabotage missions committed by banks and the government, redlining literally took away any wealth that could be built upon by black folks and one of the many reasons why we don’t have any wealth in this country

And some of y’all got the nerve to act like a solution is to work harder and shame others as complaining when they bring up gov intervention, mfs be paying to much taxes for housing to not be affordable across the board, if you working 40 hours a week you shouldn’t need to spend over 15% of your income on no fukking housing

I bet not hear any of y’all fukking goofies ever speak negatively about king or the civil rights movement cause they had more heart than you bytch ass nikkas and people was literally getting lyched back in the day brazenly for the whole community to see

And the crazy part is you bytch ass nikkas won’t even mention how they fukked the country over back in 08 and how they sold everybody out

 

[V Skyye]

There’s cities that used to be booming and are now ghost towns. The market can change due to businesses opening and closing or changes in community demographics. A lot of people are still not full time in office buildings which is killing the commercial real estate market in major cities. It will be interesting to see the 5-10 year effect on downtown businesses like restaurants and shops and eventually condo and home values in surrounding areas.

The haves vs. have nots in this country is also getting more and more pronounced with real wealth gaps but people have to change strategies. There’s still plenty of opportunity in America to make it. I think the most important thing for younger people is to keep your debt low as possible and save. People over 30 will definitely have it harder because we gain more responsibilities. For black folks avoiding children out of wedlock is the best way to stay out of unnecessary debt.

The government ain’t saving nobody. Make a 5 year plan and stick to it.

 

[AAKing23]

You haven't seen anything yet. People are trying to time things right. But they're well be bidding wars again. Trust me, there are a lot of people who can afford high mortgages.

You want a starter home? Get a remote job and move to a small town. Sad to say but that's about the only affordable homes out there.

And they can get into those bidding wars if they want to

Won't be me tho I will never fight to spend my money

 

[AAKing23]

There’s cities that used to be booming and are now ghost towns. The market can change due to businesses opening and closing or changes in community demographics. A lot of people are still not full time in office buildings which is killing the commercial real estate market in major cities. It will be interesting to see the 5-10 year effect on downtown businesses like restaurants and shops and eventually condo and home values in surrounding areas.

The haves vs. have nots in this country is also getting more and more pronounced with real wealth gaps but people have to change strategies. There’s still plenty of opportunity in America to make it. I think the most important thing for younger people is to keep your debt low as possible and save. People over 30 will definitely have it harder because we gain more responsibilities. For black folks avoiding children out of wedlock is the best way to stay out of unnecessary debt.

The government ain’t saving nobody. Make a 5 year plan and stick to it.

They don't wanna hear it but following this plan has worked out beautifully for me and is the key to life. I avoid any and all debt like the plague

 

[King Poetic]

Cooperative economics - people need to get married again or have serious partnerships. Don’t want that? cool, maybe you and your brother/sister or best friend(s) buy a place together. nikkas posted an article about single women buying places together last year and LOL’ed at the “lonely bytches”, but those women are choosing ownership and wealth building by getting in where they fit in. Too many people want to be 100% on their own and also move up in a world that stacked against the average person and where one of the proven best ways to have any hope in the game is pooling resources

BINGO!!! Thats the biggest thing!!!

People skipping over marriage and want to get a home on they own..

For some thats cool if your income can handle all that..

But outside of coli dudes, many people around the country is making less than 70k and even lower a year…

So those 200,000/300,000 homes in just a decent neighborhood is going to be tough for u to afford as a single person compared to a married couple who salaries together is $150,000 and higher and now u can get a home

But we live in a time where its all about getting it on your own

 

[Json]

The problem is going on worldwide so on some level this must be just a product of capitalism and societal demographics/lifestyle changes.

On the American side, in the short term we have to stop building these 2 story 4 bedroom 3 kid houses and double down on the actual amount of affordable starter homes.

 

[Oatmeal]

Cooperative economics - people need to get married again or have serious partnerships. Don’t want that? cool, maybe you and your brother/sister or best friend(s) buy a place together. nikkas posted an article about single women buying places together last year and LOL’ed at the “lonely bytches”, but those women are choosing ownership and wealth building by getting in where they fit in. Too many people want to be 100% on their own and also move up in a world that stacked against the average person and where one of the proven best ways to have any hope in the game is pooling resources

I pitched these ideas to women I know and they were all against it. I've been saving since before COVID to try and get a property but nobody is trying to build for real. They'll say all this mess about being independent when I break the numbers down and show them how easy things are with 2 I comes and they just say a man should be able to handle it without help

I swear if I would've got back together with my ex we probably could've seriously built some wealth then cashed out and went our separate ways again, she was the most financially on board woman I've ever known and was able to buy a home for herself while I was trying to time the market

 

[-DMP-]

This!

I’m looking at houses in Macon GA. It’s sad. I can’t imagine how potential first time home buyers fee right now.

I explained in another thread what some of the issues are but at the end of the day, supply and demand. We need more “starter” homes built. 3/2 1200SF. We literally need millions of them built.

Bro I lived near there a few years back and houses were so cheap then. I swear every black person with a decent job and credit had a nice starter home for about 100-150k.

I doubt it’s like that any more.

 

[V Skyye]

They don't wanna hear it but following this plan has worked out beautifully for me and is the key to life. I avoid any and all debt like the plague

Yep. And it keeps you ready for opportunities when they come instead of scrambling.

 

[IsThatBrothaMouzone?]

Bro I lived near there a few years back and houses were so cheap then. I swear every black person with a decent job and credit had a nice starter home for about 100-150k.

I doubt it’s like that any more.

Damn reminds me of my auntie.

Bought a crib for like $90k in a decent neighborhood when her sons were already damn near done with college. She paid that mug off and now it's worth like $400k less than 20 years later.

She doesn't need to sell because there's no need to upgrade or downgrade. My cousins already got their own houses after getting married early.

 

[WIA20XX]

Just looked at zillow for DC

Average House Price is allegedly 602K, which with the current interest rate is 3500 for mortgage, taxes, and insurance.

200 "houses" available at that price.
When you specify SFH, it's 42.

And you already know where these houses are when it comes demographics and economics.

The rule of thumb is 1/3rd your gross income. But I think 1/4-1/3 of your NET income makes more sense.

So the Fed says a household needs to 200K a year (gross)
Under my more conservative look, a household needs 260K a year (gross)

Keep in mind the median HOUSE HOLD income in DC is a mere 101,000.

What percentage of households in DC make that 260K and up? ~9%
If I could find the figures, I'm sure 200K and up might be ~15-20%...

So to be generous, only 20% of the people in the city can afford to buy. And they're buying in the least served parts of the city, unless they want a condo.

But wait, America is like 66% homeowners...

The math ain't mathing. Or rather, the math can't keep mathing.

Sure you can play with interest rates, yadda yadda yadda, but fundamentally there's a huge problem.

Most places where you can get good paying jobs are in areas where 2 incomes can't buy a house.

The meager bumps in salary trickles back and all the prices go up, some a lot faster and bigger than others...