Eh if you kept a job in the late 70s / early 80s and paid off your house you did great. With 13% interest, the resulting house prices you could afford to take a 15 yr loan on and pay it off.
I'm not saying it's great. I'm saying there are people who do well in every time period. It may just be harder to do. The people who drive the business cycle certainly profit on both ends.
Despite most wokies and people in general being spoiled and monetarily retarded, there is a significant issue with inflation, wage stagnation, property values and all of that mixed together making sure that those who do well now have far less to show for it than those who did well back in the day.
Like, its still possible to buy a house now in most areas of the country. But it'll be less impressive, take a larger percentage of your income, and likely take a lot longer to pay off if you ever do.
boomer wealth is tied up in their house, on average. they refinance regularly. any dip in home values means big pain for someone who has taken equity loans out against their home value to live the high life.
so, home prices will not substantially decrease until the boomers finish dying. if a zoomer wants a house they are just going to have to wait around. and it might not come, as we are importing limitless invaders both "legally" and illegally while tightening zoning control and restricting building (thru environmental legislation, local city and county commissions, water rights laws etc)
The housing market is insane as is the rental market. Doesn't help that everything being built nowadays is a McMansion with no yard. When I was still looking for a home I was actively looking for an 80s style house with an 80s style yard. They don't appear to build those anymore, at least not in big enough numbers to matter.
I remember my parents talking about buying the house they lived in when I was born in the early 80s for 30k. Yeah, it was a shanty by modern standards but I clearly haven't frozen or starved to death so it must have done it's job. My mom always talked so great about the neighbors and such too. I barely remember it we moved around when I started school. I think I've heard my Dad made something like 20k or 25k salary at the time. Totally do-able for a functional house even with crazy interest.
Eh if you kept a job in the late 70s / early 80s and paid off your house you did great. With 13% interest, the resulting house prices you could afford to take a 15 yr loan on and pay it off.
I'm not saying it's great. I'm saying there are people who do well in every time period. It may just be harder to do. The people who drive the business cycle certainly profit on both ends.
My grandparents built their house in ~1950. They sold it 1990 for I think $70k, and they thought they got a great price for it.
It sold again in 2004 for ~$200k. Wow, that’s a big increase in less than 15 years!
House most recently sold in 2021 for $550k.
Today, the zillow estimate is just shy of $700k.
This is a 75 year old house, ~1500 sq ft, 3 bed, 2.5 bath. Less than half an acre, nice neighborhood, good location, etc., but still, it’s just nuts.
Despite most wokies and people in general being spoiled and monetarily retarded, there is a significant issue with inflation, wage stagnation, property values and all of that mixed together making sure that those who do well now have far less to show for it than those who did well back in the day.
Like, its still possible to buy a house now in most areas of the country. But it'll be less impressive, take a larger percentage of your income, and likely take a lot longer to pay off if you ever do.
Of course there's a significant economic issue at play here. That they caused.
Right, their solutions and attempts to work on it are making it actively worse.
I just want to encourage people not to fall into the trap of "wokies think its bad, so that means there is no problem whatsoever."
That's how you end up with Thin Blue Line folks supporting the cops as they stomp on our faces.
boomer wealth is tied up in their house, on average. they refinance regularly. any dip in home values means big pain for someone who has taken equity loans out against their home value to live the high life.
so, home prices will not substantially decrease until the boomers finish dying. if a zoomer wants a house they are just going to have to wait around. and it might not come, as we are importing limitless invaders both "legally" and illegally while tightening zoning control and restricting building (thru environmental legislation, local city and county commissions, water rights laws etc)
Well yeah housing prices are imaginary at this point. Only ppl with imaginarymoney can find one
The housing market is insane as is the rental market. Doesn't help that everything being built nowadays is a McMansion with no yard. When I was still looking for a home I was actively looking for an 80s style house with an 80s style yard. They don't appear to build those anymore, at least not in big enough numbers to matter.
I remember my parents talking about buying the house they lived in when I was born in the early 80s for 30k. Yeah, it was a shanty by modern standards but I clearly haven't frozen or starved to death so it must have done it's job. My mom always talked so great about the neighbors and such too. I barely remember it we moved around when I started school. I think I've heard my Dad made something like 20k or 25k salary at the time. Totally do-able for a functional house even with crazy interest.
Yep my buddy at work said he paid 70 in Arizona. He must live in a mansion.
He was a sales guy so I have no idea how much he made. He told me he paid off the house.