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There are very few people that can afford to buy a house in a lot of areas in California. If interest rates are keeping you from buying a house then you would have been screwed when I bought mine in 1980. Mortgage rates were between 13 and 17%. The idea that you cant buy a house because someone is preventing you from doing so needs a better explanation than your post provides to be credible.
But it comes with a tool cart which you'll need during the fix up, and a trash can to get rid of the stuff you don't need.
"It is pretty insane that most of the the conservatives on this site, which is 90+% of the commenters in anything politics related in non moto, have nothing as far as civil conversation goes. Just memes and insults."
Do you think it might have something to do with you posting the same false talking points a google # of times and wondering why you just get a meme as a response?
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To be fair Borg, even that the interest rates were higher when you purchased your home. If you took the price of your home and divided it by your annual income, you'd have a much different number than doing that today. I remember one of my friends when I was young bought his house and had a $1,500 monthly payment and thinking to myself, how the hell can someone afford that? A house today is at between 5-10 times the price it was when you bought. And chances are better than not that you bought your house at a discount because the previous owner had an ARM and couldn't pay the payments and had to give it up at a discount. For the kids today, it's the cost of the house + the interest + taxes + HOA dues + insurance (homeowners and mortgage) + maintenance
It's a different world. Today when people lose their house, institutions come in and buy for cash taking that off the market keeping the prices high for what's left. Kids have very little chance of buying without help from their parents. And yes there are exceptions, but exceptions never make for a good rule
Not quite following your logic there. You can either afford to buy in the area you picked or you cant.
I didn't buy from a distressed owner. It was actually the opposite. They were moving to a larger house in a nicer area. I paid the going price for that house, for that time and the area. 20% down with some help from a parent plus a small second to cover the balance on the down.
We also had to pay the interest, taxes, insurance and maintenance.
My son could not afford to buy anywhere near where I live. He was offered a job in South Carolina and took it. 6 months later he bought a 2 bed 2 bath house on a large lot in a great area and paid $160,000 for it without any help from me or his wife's family. At some point he will be making more money and will be able to afford a nicer house somewhere. He didn't complain or blame somebody else because he couldn't buy a house in Long Beach.
You want to buy in California now and you are unable to afford it, why is that someone else's fault? Which was what JM485 was suggesting.
Careful Borg...you're about to get blasted by chance...he thinks everyone should be able to buy a home in the most expensive markets in America and if they can't its because the "man" is trying to hold him down.
Haha. Such a clown. You got it all figured out don’t ya.
In reality, I can’t afford what I want with 130k annual income So, I’m making arrangements to start my own plumbing business. It might take a year or, two for everything to level out but, I’m not sitting on my hands watching the market continually climb out of reach.
Hence, my comment about lenders being more hesitant giving money to small businesses.
On the contrary. I actually have a lot of respect for Borg.
Now, get back to stroking that ego of yours.
I can’t speak for him but what I can speak on is the cost of housing vs. cost of living. Noticed you live in LB. I was born and raised there. My grandfather was a manager an auto parts store in North LB and my grandma worked at the Broadway. The were able to buy a house and raise 6 kids with those jobs. If I was a manager at Autozone and my wife worked at Macys, we’d be struggling in an apartment. Interest rates aside, my grandparents paid $12,500 for their house in Los Altos. It sold for $900k. No way that Autozone/department store is covering that mortgage.
I'm saying the market is different. You used to be able to get a job in the area that you could pay a mortgage and live your life. The cost of a starter home in this area is probably 10 times what it was when you bought. However the wages are not 10X what they were when you bought. It's a different dynamic. But, I agree with you, if you can't afford it, look where you have a better chance to buy a home. Or rent and don't complain because that's your choice. But if you choose to live here and rent, you should probably have a job that you can pay your rent and save for the future, or it's a bad choice on your part. Living in CA is expensive, not everyone can afford it. If I sold my house for the going rate, neither of my kids could afford it. And they make better money than I did at their age.
Companies just don't pay a wage that's ratioed to the cost of living like they did when we were young. And Titan is not entirely correct about just finding another job if your company doesn't give a proper raise. Who wants to go from getting a 3 week vacation back to getting a 1 week vacation for a $5hr raise? There are other things to consider.
Whether we agree on the motives or not, the important part is we agree on the cause and the solution. I understand the mindset of only blaming yourself, but at the same time we have to acknowledge the causes and who is accountable for the changes that are putting us in this situation. You very well may have accounted for a downturn in a perfect world, but this isn't a natural nor normal downturn, so it's hard to plan for a consistently moving goal post. I truly believe that this is just another step towards forcing people to be more reliant on the government, because let's face it, it's a lot harder to control people who own their property. I try to turn inward and do what I can but at some point enough people are going to have enough of this, I shouldn't have to work a full time engineering job, plus take on side work, plus run a small side company just to have the extended chance at owning a very basic home, that's just not a sustainable situation. I really don't like Tucker but he had it right when he said it's not shocking more and more young people are turning towards socialism as they see a capitalist system that's not providing them the same opportunities their parents or grandparents had, if we keep ignoring this problem there are going to be more and more that turn that way and before you know it this country will be following the European model. I don't want that, I doubt that you want that either, so I think there are very real reasons to consider external factors in this situation.
Either way we're batting for the same team here, I needed to vent and got it out and I'm glad we can come to an understanding.
As I already explained, you weren't fighting off cash buyers and multi billion dollar investment funds, or historically low supply when you bought your house in 1980. This is a completely different market then it was in the past, if it gives you an ego boost to pretend everything is the same as when you were young and I'm just lazy/stupid for not figuring it out then more power to you. For perspective, in order to save up 20% down for a $400k house (low for CA, but this is around national average) that's nearly $100k, much more than most Americans make in an entire year (before taxes even). Does that sound like a rational market to you?
Here is a chart to prove my point regarding supply if you are interested:
https://tradingeconomics.com/united-states/total-housing-inventory
Well, for what its worth (I know you don't care much for me or my opinion, so its not worth much to you) I applaud and respect you for starting a business to change your circumstances so you can get what you want out of your life.
Never said that. It’s simply difference of opinions.
The only thing I’ve seen is things are harder than ever for people to get into homes.
Circumstances have changed dramatically in just five years. It’s not easy and, it’s frustrating. 400k five years ago would’ve gotten a person a 2400 sq ft house. Now, you’re lucky to find a 900 sq ft house that needs a full remodel for that price.
A person who breaks their back and, works their fingers to the bone in a trade that pays very well shouldn’t struggle for homeownership is really the only opinion I have.
I heard an interview from him yesterday, talking about “our differences make us stronger”, and that the US of A is the big “melting pot”, and I thought it was a great interview.
https://www.newsweek.com/oliver-anthony-melting-pot-fox-interview-18217…;
We purchased our home back in 2011 or 2012 for $230,000. It was a new home. The housing market was at a bottom. New homes were actually selling for cheaper than a used home. Builders were struggling to sell new inventory.
In North Texas we have had a HUGE influx of people coming in from out of state (usually California or Washington) and from out of country.
The people from out of state are driving up housing prices. They sell their home in California for 800k-2 million
Come to Texas and can basically pay cash for a house or close to it. It doesn’t matter if the home is 400k or 800k. They can pay it. They are flush with cash. They can sell their 2000sqft home in California for 1.5 million, move to Texas and get a 4,000sqft home for $650-$800k
They have money left over to go by a lake home now too. Housing prices in the Lake Texoma area have practically doubled in the last 5 years on both the Texas and Oklahoma sides.
So prices have SKYROCKETED!!!!!!!!
My home value has doubled. Which you may think is a good thing. But in the short term it’s awful. My property taxes have doubled. My income hasn’t changed all that much over the last ten years. But dang prices of EVERYTHING have gone up and up and up.
kind of the same situation here. my home has more than doubled in the 6 years since i bought it. the house i was in before my current home was an 1100 sqft 3 bed 1 bath rambler in a not great area with a bunch of shit houses surrounding it. i fixed it up and sold it for $180k, made a decent profit in the 10 years i owned it. about 6 months ago it sold for $375k and they didn't do shit to it, same light fixtures, same paint, same carpet, if anything it was in worse shape than when i sold it for 180. that's fucking nuts.
we looked at selling our house last year during the crazy market, but then we would have had to replace it and take out a bigger loan than what we were in just for a slight upgrade. rather than be house poor we decided to ride it out and do some slight upgrades to ours. the home prices in Utah are astronomical. back in about '14 i had the chance to pick up some property and build, i wish like hell i would have jumped on it then. property pricing and new home pricing is fucking stupid in UT.
Pit Row
Right there with ya. Home valuation has doubled, as have property taxes (almost $1K/month) and insurance ($600/month). Equity is nice, but it don’t pay no bills.
Condo next door to my cousin sold for 81k in November. Now same one bedroom one bath 790sqft condos in his neighborhood and next to him are selling for 120-130k all day long. It's not even a full year later.
Condos n my town START at about 220k US dollars .
Not sorry, had to repost this.
Those words in that post by Oliver Anthony are profound, and represent the exact sentiment that millions of Americans are feeling in today’s version of America.
Mr Anthony reacts to his song being played/discussed at the RNC debate. Man is that sickening that they are playing his song when it's about these assholes to begin with. The song isn't about one party....
Well worth listening to the whole video.
It was funny watching the politicians on the stage at the debate squirming trying to answer the question of if they’re bought and paid for talking about this song, that’s literally written about them.
Ever notice how many of the best doctors in this country(I’ve been a patient of many of them thanks to the tumour they found in my head) aren’t white? They’re here thanks to immigration. Go to any hospital in any major city and you’ll find it filled with immigrants or children of immigrants working to save the lives of Canadians.
Dude, I’m just waiting for the crash in hopes I can snag 10-20 acres somewhere with a water source for horses 😂
You can thank the ACA, and insurance companies for the demise of many MD's in this country over the years.
Thus creating a void.
The same type of void that has decimated the blue collar trades as well.
Leaving them open to less skilled workers, at a much reduced rate of labor.
Just one of the underlying tones of the man's song.
It depends on where you live. My daughter is 30 married with two kids, her and her husband have bought two houses. She is a nurse, he is an electrician. Housing in my area is very affordable, the weather and economy is shit, but housing is affordable.
And this is why there is such truth to the scripture that says
“God has blinded the eyes of the unbelievers so that they CAN NOT believe”
and God will be glorified in both your death and your eternal condemnation
Post a reply to: Rich Men North of Richmond