twice as long

https://www.star-telegram.com/news/business/article287009720.html



Must've been nice to buy a single family home for $88k and flip it for $800k with no renovations

Why would I.
I've got mine!!

I honestly regret not buying a bunch of shit in Detroit like 10 years ago. You could have basically bought whole blocks for almost nothing. That shit is always cyclical.

i looked into that.

it's the back taxes that will get you.

Sorry that you don't agree but the facts and the math don't lie.  



End of interactive chart.
Interpretation
Historically, the average cost of a house in the US has been around 5 times the yearly household income. However, during the housing bubble of 2006, this ratio exceeded 7. In other words, the average single-family house in the United States cost more than 7 times the US median annual household income.
The Case-Shiller Home Price Index is a widely recognized measure of the price level of existing single-family homes in the United States. Developed by Robert J. Shiller and Karl E. Case, it is considered the leading indicator of US residential real estate prices. The index is based on a scale of Jan 2000=100 and is multiplied by 1800 to approximate the average sales price of houses sold in the United States.
When assessing the affordability of a house, it's important to consider not only the price but also the interest rates on mortgages. The average 30-year mortgage rate in the US reached its peak in 1981 at 18.63% and gradually declined over the following 40 years. However, in early 2022, yields began to rise again, making homes less affordable, which subsequently led to a decline in real home prices.

I never thought about that. New owner has to inherit all of that? That would definitely be a hard no. Would have loved to basically have a couple city blocks though. Build one block that's just my house then partition the others and sell off the raw land in parcels or build and see turnkey homes.

one of my general foremen is from detriot originally.

we regularly talk about buying half of detroit for pennies on the dollar.

. I don't think i could take the winters but the car nerd in me would like it. (used to go up multiple times a year covering the shows and other random road trips).

You don't have a pro bono ace tax attorney/championship bodybuilder GigaChad™ friend?

What are you even doing with your life? have fun renting.

Since Trump got Kwame off the hook I could probably hook up with him and get some discounts.

Attached File

Called it. They are using data back to 1946.

@Trunalimunumaprzure

in all seriousness, i've been trying to buy an affordable used heavy duty sewing machine to build some gear for myself.

the sellers are all GigaChad master fabricator master plumber master electrician master carpenter master commercial concrete guys navy squeal delta force squeal team six green beret NASA SAS parachute riggers who want $870 for their 87 year old all metal sewing machines with missing parts and deferred maintenance.

me:  fuck off.gif

Can you boomers please stop writing your biographies in Youtube comment sections at least? Thank you

How much time do you have?
Sailmaker palms and heavy duty needles are cheap.

IM A 74 YEAR OLD MALE FROM ST GEORGE WHO NEVER LIKED ROCK UNTIL I HEARD THIS SONG. IT BROUGHT ME TO TEARS THINKING OF THE SINGERS PAIN.

Boomer checking in.
Been in Maui for the past week.
To all the post boomer generations, your tears are much appreciated and delicious.

They know what they got.

Well said. Next time I'm in Georgia,  I'll buy you a beer/coffee/ensure - or whatever your preferred poison happens to be.

GOT DAYUM MILZEKES

also, big shoots:  still waiting on that google earth pin from ya and/or street view of the got dayum millennials (renters lol) living in their van next to your house.

Attached File

FIFY.

Yeah, I’m not rooting in defense for the ones that see themselves as a victim.
Were some things harder?
Sure, you had to spend hours in the library looking up, copying, etc, doing references for a pub and type it up. vs doing it online from home with a word processor with a magic cite function.
Were some things more expensive?
Sure, 35 years ago a 19 inch color TV and stereo VCR on sale were the equivalent of about 2200 bucks now.
And that rack stereo system with huge speakers, dual cassette, cd six packs, and turntable was about 2700 bucks in today’s dollars.  Vs 100 bucks a month now for some streaming and internet and a $1000 phone or iPad or a 500 dollar TV.

But that’s pretty much the shit that’s not important.  The soma/opium/entertainment/ etc.

I very much understand and don’t see myself as a victim.
I grew up rural poor.  I spent an enlistment in the military.
I got married.  My wife had her associates and three years of college.
I used the GI Bill, got a work study job, plus worked extra in the reserves.
Could I have gone to college for free?
Well, if I had been raised in a different background, yes, I would have known how and done it.
I turned down an offer of admission to West Point to get married.
I took an ROTC scholarship but they changed it and the requirements and I did not take it.
My wife worked full time and I did take some small student loans that were paid off.

But-
My tuition was 1/2 proportionally what it is there now.
My exact same apartment is now 2-3 times proportionally what it was then.
Buying a three year old all weather, low mileage, reliable vehicle for work is twice as much proportionally.
Our medical insurance was 1/2 proportionally what it is now.
I knew from talking to people that had been in my shoes 20-25 years previously they had things - same apartments, same school, etc. also proportionally better than I had.  And recognized “inflation” or whatever being off in those things.

I don’t see what’s so hard about recognizing someone now in the shoes I was in 35 years ago have rent, education, transportation, and insurance costs way beyond what I did when I was struggling.  And what a shitshow the increased travel, bigger debt, worse living, etc. must be for what they can afford.

After college I went back on active duty, and was selected for an assigned to an area with massive springboard potential and opportunity.  Plus life changing education and training,  my wife worked full time plus finished her B.S.  
We bought a small SFH on a tiny lot with a tiny fenced yard 12 miles from work, with amazing schools, close to outdoor recreation, with zero crime, etc.  We worked crazy hours and were smart with our money.  That home was about 350K in today’s dollars.  Those are now 750K to 800K homes.  Someone in my exact shoes now that I was in then would have two to three times the commute, crappy schools, crime, etc, for 350K.  I was already working so many hours and things were already tight enough more vehicle and transportation expense, hours wasted commuting, etc. would have had a very negative impact.  I want some 25 year old young couple now to have things as good as I did then, if not better.  

Around a decade later I bought the big wonderful dream house that was a fantastic place to raise a family.  The oldest was in grade school, one in preschool, etc.  My wife had been able to stop working and we did single income starting around 30 when we started our family.  It was around a 475K home.  That home just sold for 775K dollars.  I could not have remotely afforded it / my life if it had been 475K a couple of decades ago instead of 300K.  Even if my wife worked full time and we did the day care and all that crap.  Which would not have worked because I averaged about 6 months of each year away from home for the decade we lived there.  We would have lived someplace way shittier with crappier schools, more crime, etc, than we did.  For the same effort and accomplishment.

Around a decade ago, or even now, I could be fully retired/not working and have 130K coming in each year.  I decided to keep working 30-40 hours a week.  My federal income taxes are about the same as the 130K passive.  But…
Still working allowed me to give the wife her farm I always promised her since I took her away decades ago, be a little more rural, keep the kids in good schools, be away from crime, pay for their college, etc.  Now, the farm was about 1M in today’s dollars.  Plus I added about 400K in todays dollars in a new building, pool, etc.  I pay property tax on an assessment of 1.2M.  The house would sell for 1.8-2M.  So, the house proportionally would have been half again as much to buy a decade ago.
Under the current economy, I would never had had this home.  Someone a decade behind me with the exact same accomplishments, drive, potential, sacrifices, efforts, etc. can’t have what I have.

Things got progressively better for young Americans -
And for various reasons have slid back -
While trying to paint over it with cheaper, fancier crap that doesn’t matter-
While the real things that matter are being stolen.

I am absolutely not a communist.
But we have fucked over the younger generations.

Ooh this is good.

Looks like a solid 1K or more of wood also.
I know the wood cost 1/2 as much five years ago.
Just cut out your fancy ass Netflix membership and that will cover it.

WHY DO YOU LOVE COMMUNISM SON?

I’ve been told that empathy is liberal propaganda and we should all be cold heartless assholes who shame those younger than us. Or at least that’s what GD has taught me.

That’s what I’m talking about.  If you want a little luxury find an old airstream to put next to it.

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linky to old airstreams?

GD - Family is the most important thing. Money means nothing. You should sacrifice everything to have as many kids as possible and spend as much time with your parents/kids/siblings as humanly possible.


Also GD - Fuck your family, move 8700 miles away to where the jobs and cheap houses are at (for now).

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renters lol.

just don't want to work barefoot in a blizzard in janurary in north dakota for $8.70/hr and no piss breaks.

$8.70 an hour? I was making that in 1933 struggling to afford my $6,300 house at 9% interest rates, son.

Also GD: All these got dayum millennials are useless and lazy. Every single one of em.

Generational absolutism is a bitch.

Why would anyone read the comments?

GOT

DAYUM

SILENTS

wait, what?

I’m not big on empathy at all.

I am however, a huge fan of meritocracy and rewarding accomplishment.

And not a fan of fucking people over that earned something.

Congratulations!

Proof that hard work and effort pays off.

Apparently so. Otherwise a milli Melvin would get back in a month or two and buy it for what it’s actually worth.

They’re around. Some are even abandoned out near hunting properties and stuff.