Home Ownership

[Jibartik]

Originally Posted by Shourty [You must be logged in to view images. Log in or Register.]

My parents were saying housing is too expensive in the mid 60s when I was in high school. It was. They bought an old house for like 10k and scrimped to make the mortgage payments. They were saying, when I got ready to buy it would be impossible.
My wife and I purchased our first home in the early 70s for 67k and scrimped to make the mortgage.
Our kids payed over a hundred k for their houses and scrimped to pay the mortgage.
I see a pattern here.
Right now, because of the shutdown for the pandemic, there aren't as many new houses on the market making the older ones more expensive. Folks are going to have to scrimp to make the mortgage payments. Shocking!

Median mortgage 1960: $11,900
Median income 1960: $5,600

A home costs x2 your income.

Median mortgage 2018: $272,500
Median income 2018: $65,000

A home costs 4x your income.

This is why people hate boomers.

[Shourty]

[QUOTE=Jibartik;

This is why people hate boomers.[/QUOTE]

I was born before the boomers. Cripes, I'm so old, I fart dust.
I don't feel offended being called a boomer because of your youth. You lack experience and context to really make a offensive comment yet. Kinda like a kindergarten kid snickering and calling someone a "poo poo head".

[Gatordash]

Originally Posted by Shourty [You must be logged in to view images. Log in or Register.]

I don't feel offended being called a boomer because of your youth. You lack experience and context to really make a offensive comment yet. Kinda like a kindergarten kid snickering and calling someone a "poo poo head".

I just know that your generation has taken advantage of and passed along a ton of debt to the younger generation so I disagree with your anecdote.

But its not your problem so I guess I wouldn't give a fuck either if I was in your shoes.

And likely my generation will do the same to the younger generation because its easy to pass along your problems to someone else.

[Jibartik]

Originally Posted by Gatordash [You must be logged in to view images. Log in or Register.]

And likely my generation will do the same to the younger generation because its easy to pass along your problems to someone else.

This is why I think we deserve a world war. Just to be clear! [You must be logged in to view images. Log in or Register.]

Edit: also it will make the homes I want to live in accessible (or destroyed by chemical warfare or radiation if I cant have them no one can)

[derpcake2]

Originally Posted by Jibartik [You must be logged in to view images. Log in or Register.]

Median mortgage 1960: $11,900
Median income 1960: $5,600

A home costs x2 your income.

Median mortgage 2018: $272,500
Median income 2018: $65,000

A home costs 4x your income.

This is why people hate boomers.

Mortgage rate in 1975: 9%
Mortgage rate in 2021: 2.8%

Total cost when loaning 200k over 30 years:

1975: $ 561.227,64
2021: $ 294.494,44

Source

Hilarious.

[Jibartik]

Originally Posted by derpcake2 [You must be logged in to view images. Log in or Register.]

Mortgage rate in 1975: 9%
Mortgage rate in 2021: 2.8%

Total cost when loaning 200k over 30 years:

1975: $ 561.227,64
2021: $ 294.494,44

Source

Hilarious.

Show me where you're going to live with a 200k loan please and then I will remind you that the people there make 15$ an hour.

Not to mention you could buy 5 homes for 200k with a median Home price in 1971 that was 35k.

Estimated payments on a 35k home at 9% 30 year fixed is 230 dollars. (1975 rates)

If you bought the home 3 yeas earlier the payments would be $90 (1972 rates)

[derpcake2]

Originally Posted by Jibartik [You must be logged in to view images. Log in or Register.]

Show me where you're going to live with a 200k loan please and then I will remind you that the people there make 15$ an hour.

Median Home price in 1971 was 40k idiot.

Why are these people making 15$ an hour?

Isn't that what a burger flipper with some experience makes?

Thought we were discussing gainfully employed people here.

[Jibartik]

Dutch cities want to ban property investors in all neighborhoods

https://nltimes.nl/2021/09/02/dutch-...-neighborhoods

[Jibartik]

https://www.consumerfinance.gov/abou...osing-housing/

[You must be logged in to view images. Log in or Register.]

[Jibartik]

I'm just saying an older gent saying that today is just like his day is par for the course, and incredibly inaccurate. And that is why people hate boomers.

[You must be logged in to view images. Log in or Register.]