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Re: Speaking of housing affordability
[Re: jaredhunts]
#4141461
06/02/24 03:51 PM
06/02/24 03:51 PM
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Joined: Jan 2017
Posts: 6,504
Mobile, AL
Pwyse
14 point
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14 point
Joined: Jan 2017
Posts: 6,504
Mobile, AL
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We are about to have a third child and would like to move to a bigger house in a better school district before our oldest starts k5. Our mortgage payment will likely double with the move. I’m making more money than I’ve ever made but it sure doesn’t feel like it. Your not making more money, the numbers just changed. You are right. Less buying power now
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Re: Speaking of housing affordability
[Re: AU7MM08]
#4141468
06/02/24 04:12 PM
06/02/24 04:12 PM
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Joined: Oct 2009
Posts: 6,216
Henry county
coldtrail
12 point
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12 point
Joined: Oct 2009
Posts: 6,216
Henry county
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Now vs 1980 per the interweb
2024
Average salary $63,000.
Average home price $395,000.
Square footage 2500 (158.00 sq/ft)
$13,600 per person (2022 number)
1980
Average salary $20,000
Average home price 47,200
square footage 1500 ($31 sq/ft)
Health care per person $1067 per person
I know housing is up but look at the healthcare cost. If that cost reasonable it would help with housing.
"And the days that I keep my gratitude
Higher than my expectations
Well, I have really good days" Ray Wylie Hubbard
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Re: Speaking of housing affordability
[Re: AU7MM08]
#4141470
06/02/24 04:12 PM
06/02/24 04:12 PM
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Joined: Jan 2014
Posts: 10,543
Scottsboro, Al
jbatey1
Lucky Bastage
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Lucky Bastage
Joined: Jan 2014
Posts: 10,543
Scottsboro, Al
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My neighbors listed their house for sale a week or two ago for 4x of what I paid for mine when I bought it.
It’ll make it hard not te list mine, if they sell it as mine is updated and theirs is not. The problem is replacing it, I don’t want the hassle of building a house and the minimum house I like right now is probably being sold in the 650-750 range.
I reckon I’ll just sit in what I’ve got until I decide I’ve had enough and just buy or build my dream home.
The fool tells me his reasons; the wise man persuades me with my own.
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Re: Speaking of housing affordability
[Re: jbatey1]
#4141476
06/02/24 04:25 PM
06/02/24 04:25 PM
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Joined: Jun 2015
Posts: 14,393
Some Marriott/Auburn
AU7MM08
OP
Booner
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OP
Booner
Joined: Jun 2015
Posts: 14,393
Some Marriott/Auburn
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My neighbors listed their house for sale a week or two ago for 4x of what I paid for mine when I bought it.
It’ll make it hard not te list mine, if they sell it as mine is updated and theirs is not. The problem is replacing it, I don’t want the hassle of building a house and the minimum house I like right now is probably being sold in the 650-750 range.
I reckon I’ll just sit in what I’ve got until I decide I’ve had enough and just buy or build my dream home. Pricing a home build in Q1 2021 had me quickly pump the brakes on the idea of building. That was also when windows were 8 months backordered and other similar craziness. Really glad I did not choose to build and kept the property
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Re: Speaking of housing affordability
[Re: AU7MM08]
#4141479
06/02/24 04:30 PM
06/02/24 04:30 PM
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Joined: Feb 2007
Posts: 21,620
colbert county
cartervj
Freak of Nature
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Freak of Nature
Joined: Feb 2007
Posts: 21,620
colbert county
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“HOUSING AFFORDABILITY IS THE STORY FASTEST DETERIORATION EVER: 2021 to 2023 IF U.S. incomes spiked 69%, we'd return to pre-pandemic housing affordability IF U.S. home prices fell 41%, we'd return to pre-pandemic housing affordability IF mortgage rates fell more than 4 percentage points, we'd return to pre-pandemic housing affordability To be clear, the "IFs" don't mean that I think these are possible paths. Instead, it's how far the given metric would have to shift in order to return housing affordability to historic norms.” https://x.com/newslambert/status/1797301740544356772?s=46&t=nMLVf69hPg1pGGuTpdFCOwHow does it compare to 2005-2008? These days seem stranger than that time frame
“Socialism only works in two places: Heaven where they don't need it and hell where they already have it.” ― Ronald Reagan
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Re: Speaking of housing affordability
[Re: AU7MM08]
#4141483
06/02/24 04:35 PM
06/02/24 04:35 PM
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Joined: Feb 2007
Posts: 21,620
colbert county
cartervj
Freak of Nature
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Freak of Nature
Joined: Feb 2007
Posts: 21,620
colbert county
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I remember the Carter years and 22% loans. One guy was giving loans on homes and charging in 10% and made a killing. He had enough money to front home building. Then again homes were entirely cheaper and had just the basic amenities instead of all of this custom stuff. Checking recall the mid eighties building starter homes and mid level family homes and none of them would be built today. I think apartments and duplex’s have better than what we built. I ever we built a customer on rainbow mtn in Huntsville. Had cherry cabinets and all the fancy stuff and it’d be mid level at best these days.
“Socialism only works in two places: Heaven where they don't need it and hell where they already have it.” ― Ronald Reagan
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Re: Speaking of housing affordability
[Re: AU7MM08]
#4141588
06/02/24 08:03 PM
06/02/24 08:03 PM
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Joined: Jul 2011
Posts: 37,430
Boxes Cove
2Dogs
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 37,430
Boxes Cove
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Once you get past comfortable it's all show. I reckon it takes a whole lot for some folks to be comfortable now days.
"Why do you ask"?
Always vote the slowest path to socialism.
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Re: Speaking of housing affordability
[Re: scrape]
#4141589
06/02/24 08:10 PM
06/02/24 08:10 PM
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Joined: Aug 2006
Posts: 5,366
Heart of Dixie
Narrow Gap
12 point
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12 point
Joined: Aug 2006
Posts: 5,366
Heart of Dixie
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everyone's bought into the idea of living in a mansion. in the 80's like au7mm pointed out there weren't many 2000 sq. ft houses or granite countertops. maybe people should price houses without granite countertops. Yep, gotta “Keep up with the Joneses”.
Last edited by Narrow Gap; 06/02/24 08:14 PM.
Duty, Honor, Country
Robert E. Lee
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Re: Speaking of housing affordability
[Re: AU7MM08]
#4141597
06/02/24 08:27 PM
06/02/24 08:27 PM
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Joined: Jan 2003
Posts: 13,421
behind my Dillon
dave260rem!
Pope of Aldeer and Expert
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Pope of Aldeer and Expert
Joined: Jan 2003
Posts: 13,421
behind my Dillon
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Another reason I don't Facebook. I got problems of my own I don't want any more from others. Somethings got to give housing wise before homeless encampmentS are in front of everybody's homes. States full of pine trees and we can't build a 8 bedroom lodge to get 16 homeless men of the streets and provide opportunity for hands-on trade learning for folks #BuyAr15s and mags. No I'm not an Expert on our so called leaders even trying to fix the homeless epidemic. #moremagazines.
Skinny is my EX.Alcohol was involved.
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Re: Speaking of housing affordability
[Re: dave260rem!]
#4141648
06/03/24 05:27 AM
06/03/24 05:27 AM
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Joined: Jan 2005
Posts: 15,339
Hoover
Fattyfireplug
Old Mossy Horns
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Old Mossy Horns
Joined: Jan 2005
Posts: 15,339
Hoover
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Another reason I don't Facebook. I got problems of my own I don't want any more from others. Somethings got to give housing wise before homeless encampmentS are in front of everybody's homes. States full of pine trees and we can't build a 8 bedroom lodge to get 16 homeless men of the streets and provide opportunity for hands-on trade learning for folks #BuyAr15s and mags. No I'm not an Expert on our so called leaders even trying to fix the homeless epidemic. #moremagazines. Most homeless issues aren't related to the mortgage. Some are, yes. Most are drug related. Different problem to solve. However, if we weren't sending trillions overseas, there are a LOT of problems right here that could be solved and lower our taxes at the same time.
Character is not developed in moments of temptation and trial. That is when it is intended to be used.
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Re: Speaking of housing affordability
[Re: Fattyfireplug]
#4141677
06/03/24 06:38 AM
06/03/24 06:38 AM
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Joined: Feb 2007
Posts: 21,620
colbert county
cartervj
Freak of Nature
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Freak of Nature
Joined: Feb 2007
Posts: 21,620
colbert county
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Another reason I don't Facebook. I got problems of my own I don't want any more from others. Somethings got to give housing wise before homeless encampmentS are in front of everybody's homes. States full of pine trees and we can't build a 8 bedroom lodge to get 16 homeless men of the streets and provide opportunity for hands-on trade learning for folks #BuyAr15s and mags. No I'm not an Expert on our so called leaders even trying to fix the homeless epidemic. #moremagazines. Most homeless issues aren't related to the mortgage. Some are, yes. Most are drug related. Different problem to solve. However, if we weren't sending trillions overseas, there are a LOT of problems right here that could be solved and lower our taxes at the same time. Overseas offers more an anonymity to pilfer from
“Socialism only works in two places: Heaven where they don't need it and hell where they already have it.” ― Ronald Reagan
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Re: Speaking of housing affordability
[Re: kodiak06]
#4141714
06/03/24 07:55 AM
06/03/24 07:55 AM
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Joined: Jun 2015
Posts: 14,393
Some Marriott/Auburn
AU7MM08
OP
Booner
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OP
Booner
Joined: Jun 2015
Posts: 14,393
Some Marriott/Auburn
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Until the rates drop, home buyers in the middle class will struggle to pay a mortgage. My son recently said that they can afford to spend 4k per month lol, I'd crap myself to need to spend that. Does your son live on the west coast?
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Re: Speaking of housing affordability
[Re: AU7MM08]
#4141819
06/03/24 11:19 AM
06/03/24 11:19 AM
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Joined: Feb 2019
Posts: 4,726
Montgomery,al,usa
Davyalabama
10 point
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10 point
Joined: Feb 2019
Posts: 4,726
Montgomery,al,usa
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They want us under their control, they are trying to take us back to the early 1900's either with the mills and the mill company you have to buy from or the tenant farmers.
“If you do not conquer self, you will be conquered by self.” Napoleon Hill
The most difficult thing to understand during conversation is silence. Thoreau
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Re: Speaking of housing affordability
[Re: bama_earl]
#4141840
06/03/24 11:44 AM
06/03/24 11:44 AM
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Joined: Oct 2005
Posts: 1,521
AL
cullbuck
8 point
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8 point
Joined: Oct 2005
Posts: 1,521
AL
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Rates are fine. I purchased my first home in 2000 at 7.something percent. I would not wait for rates to drop. The issue is housing size and expectations of what is acceptable. My home is 1670sq. I raised my two kids here and never had an issue. My grandparents, my great grandparents, my childhood home, etc etc were all under 1300sq. We had a 2 bedroom one bath house with 3 kids until I was about 12. As a child I never remember thinking my house was too small. You woke up back then and you went outside, came back when the streetlights came on. We spent summers at our grandparents and the public swimming pool. Size of the house just was not an issue.
Today a young family thinks they have to have a garage, play room, and each child must have their own room. None of that was necessary 20 30 years ago. Not many families today have 4 or more kids, so why does everyone need 4 bedrooms?
Purchase a home based off what you need... not what you want. What I see is couples complaining about affording a house they want... not a house they need. Two separate things. Well said
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