Posted on 04/09/2023 12:18:26 PM PDT by millenial4freedom
1) I hope for a future in which I own nothing, and I am happy.
2) These dang house prices are ridiculous! I can’t afford anything! I’m so unhappy!
3) Cognitive dissonance is the only way I know to view the world.
4. Fentanyl is getting cheaper with and the added Xylazine even better!
There is a huge shortage of single family homes. Construction companies keep building apartments, but young, prosperous families want to live in and own single family homes. The shortage makes the value of existing homes only go up.
Wall Street and other investment firms buy and sell apartment complexes like stocks now. Some real funny business going on there.
That’s very sound advice. The only part I have trouble with is that for a single person that works if you have roommates. Cost of monthly rent far exceeds a modest house payment.
Some of my kids pay more rent for a 1 bedroom apartment do than I pay mortgage for a modest house.
Renting a house would be 2-3 times the cost of my mortgage.
“they want a housing crash, but will they get one? Honestly, I’m doubtful at this point.
Here in Socialist paradise Arlington, Massachusetts, this home listed at $1.1M in February just sold for $500k over asking for $1.6M - a monthly PITI payment of over $9k!
https://www.zillow.com/homedetails/241-Hillside-Ave-Arlington-MA-02476/56403718_zpid/
Last sold for $885k 5 years ago...
We won’t get a housing crash until rich millennials/Gen-Z won’t feel the need to overbid to this extent.”
This is precisely why there WiLL be a housing crash.
In 1960 you could buy a brand new home on ONE AVERAGE INCOME.. My folks paid 17k for their brand new first home...Mom never had to work. One income!
Their kids if they wanted a home were paying more than the total cost of their home in mortgage payments, every 4 or 5 months...lol
Haha yes it is Florida, 1 story house on a concrete slab. 15 years sounds logical. Let’s see I will be 94 years old then. Probably already moved to a senior assisted living facility by then LOL.
OK, I will re-paint the inside of house soon coz I am not in love with the builder’s cheap paint job. May be replace leaking toilet flush or faucets in another 4-5 years but do not foresee roof repair unless hit by a strong hurricane in the next 4-5 years. I am 7 miles in-land from ocean beach so the hurricane winds are not all that strong here.
We’re so lucky that that guy and his pals are willing to share their wisdom and awesomeness with us here on FR.
yep, and he likely makes well more than the average person his age. the supply of homes for sale (or lack thereof) is just pitiful at the lower-tier price points.
“As housing prices decline the cost of mortgages rises.”
Isn’t this kind of backwards? Upward pressure on prices would seem to ease as the cost of mortgages rides.
Large numbers of people in every other living generation are hoping for the same, and it’s likely to happen.
“Twenty-somethings who have been frozen out of buying a home are eagerly anticipating a potential housing crash in 2023 in the hopes that they’ll finally be able to afford a place of their own. “
what these young fools don’t realize, they’ll be the first to financially f***ed should a REAL financial crisis ACTUALLY occur ... they’ll be lucky if their parents have a basement they can move back into if they’re not already still there to start with ...
Gen Z's as are most of general public cannot fathom how many boomers there are, their economic power, or their political clout! They were the 80 million that voted for trump, are the 80 million paying taxes, etc, etc, etc..
A major depression is coming when all that money drys up and no-one is left to pay income taxes...
Gen Z, Your hope is futile you dumb bunnies.
84% of Gen Zeers just want to have fun.
5.56mm
God bless you! I already have looked around at assisted living places. Some are really nice. Hopefully you and I will be like one of my neighbors who’s going to be 101 in July and still lives alone in her home. She’s amazing. Walks everyday.
I have stucco thankfully. I would live in anything in almost any state but Florida. You must have a block home. The hurricanes will eat you alive otherwise. Oh I’m in an HOA where we are responsible for roads. We have 2800 homes with probably 50 miles of road. So far they put a 10 year sealer on them in 2022. The roads are 20 years old so far. I guess in 10 years, they will need major maintenance. Life! Ugh.
“A better plan is to eliminated subscriptions and recurring payments. Stop buying $1000 cell phones and electrical gizmo toys. Make do with your old car. Brown bag your lunch. Cook and eat at home. No booze or drugs, waste of money. . .”
And don’t get a divorce.
Give yourself some room. ten years in things start to change. The animals realize the neighborhood is theirs again. Paint gets tired. Roofing is halfway to it’s warranty. Flooring shows wear-——stuff starts happening.
What people who don’t live in the northeast don’t understand as there is very little inventory and this has been an issue for many years. There is just no place to build but up in the sky and single family homes are fully occupied with not enough people selling to meet demand - which means you either make a ton of money and a large down payment, or you migrate to a state with cheaper housing.
Their Marxist teachers make sure they will never find that out until much later.
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