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Posted: 11/10/2023 11:43:42 PM EDT
[#1]
Quote HistoryQuoted: On homes that cost 60k You could buy a house for like 23k in the 70's. |
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Posted: 11/10/2023 11:50:34 PM EDT
[#2]
Quote HistoryQuoted: And the cost of the home wasn’t what, the same as a decent annual salary? Maybe 2 years salary if you wanted to live high on the hog? And that bought you a home where the nearest gunshots were 35 miles from you in the nastiest part of the south side of the nearest big city instead of a few streets over. But muh 70s and 80s interest rates!! Cry me a river, old man. I’d give my left nut to live in that version of America. Hell, I’d give my right nut to live in 90s America when I was in my late teens. Investors and businesses are buying up massive swaths of American homes and driving the prices for decent ones in decent areas through the roof. Quote HistoryQuoted: Quoted: Losers. Guess nobody ever told them about the late 70's early 80's when rates were 12 percent, 13 percent or higher. They could easily wait for home prices and mortgage rates to fall--- but that's not instant gratification. And the cost of the home wasn’t what, the same as a decent annual salary? Maybe 2 years salary if you wanted to live high on the hog? And that bought you a home where the nearest gunshots were 35 miles from you in the nastiest part of the south side of the nearest big city instead of a few streets over. But muh 70s and 80s interest rates!! Cry me a river, old man. I’d give my left nut to live in that version of America. Hell, I’d give my right nut to live in 90s America when I was in my late teens. Investors and businesses are buying up massive swaths of American homes and driving the prices for decent ones in decent areas through the roof. They’re trying to preserve their wealth and insulate it from the terrible boomer economic policies of the last several decades |
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Posted: 11/10/2023 11:54:14 PM EDT
[#3]
It's bullshit.
There are houses to be built and bought if people want them The problem is they all want them in big metro cities where everyone else is |
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Posted: 11/10/2023 11:54:32 PM EDT
[#4]
Quote HistoryQuoted: hellyeahbrother.gif i pity the fool that don't get all his stonk/dating/legal/financial/medical/investing/relationship/helth advice from the GDs. Quote HistoryQuoted: Quoted: I put all mine inti Crypto I got a hot tip on GD that Safemoon is going to make me a fortune  i pity the fool that don't get all his stonk/dating/legal/financial/medical/investing/relationship/helth advice from the GDs.  Attached File |
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Posted: 11/10/2023 11:56:22 PM EDT
[#5]
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Posted: 11/10/2023 11:58:24 PM EDT
[#6]
Quote HistoryQuote HistoryHave y’all heard of dogecoin? Supposed to be the new hotness |
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Posted: 11/11/2023 12:00:23 AM EDT
[#7]
Quote HistoryQuoted: Have y'all heard of dogecoin? Supposed to be the new hotness Quote HistoryQuoted: Have y'all heard of dogecoin? Supposed to be the new hotness  Attached File |
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Posted: 11/11/2023 12:01:13 AM EDT
[#8]
Quote HistoryQuoted: Have y’all heard of dogecoin? Supposed to be the new hotness I put all of my money into CryptoZoo. |
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Posted: 11/11/2023 12:03:17 AM EDT
[#9]
Quote HistoryQuoted: I put all of my money into CryptoZoo. Quote HistoryQuoted: Quoted: Have y’all heard of dogecoin? Supposed to be the new hotness I put all of my money into CryptoZoo. I put all of my money into a Ukrainian company called KriptoeKoin |
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Posted: 11/11/2023 12:11:13 AM EDT
[#10]
Quote HistoryQuoted: And how much was a decent 3/2 in 1975? 45k? 50? maybe in the 85-90 range if you adjust for inflation. There's not much worth buying around here under 400k (I've been looking). 50k x 12% is alot different number than 400x8% 50 at 12 for 30 years is ~$500/mo and aggregate price of 185000 dollars 400k at 8% for 30 is $3000/month and a over million dollars over the life of the loan. Nearly 10x the cost in total dollars What have wages done in the same time? They're not up 10x that's for sure. Quote HistoryQuoted: Quoted: Losers. Guess nobody ever told them about the late 70's early 80's when rates were 12 percent, 13 percent or higher. They could easily wait for home prices and mortgage rates to fall--- but that's not instant gratification. And how much was a decent 3/2 in 1975? 45k? 50? maybe in the 85-90 range if you adjust for inflation. There's not much worth buying around here under 400k (I've been looking). 50k x 12% is alot different number than 400x8% 50 at 12 for 30 years is ~$500/mo and aggregate price of 185000 dollars 400k at 8% for 30 is $3000/month and a over million dollars over the life of the loan. Nearly 10x the cost in total dollars What have wages done in the same time? They're not up 10x that's for sure. They are vastly different amounts. 50K @13% is peanuts compared to 400K @8% People in the house search should keep saving and investing it just to try to keep up with inflation. Housing will eventually correct; when the market gets to a point where rent seekers get overleveraged and can't gobble up everything or have to actually sell off some of their holdings then prices will come down. It may take awhile but it will happen eventually. |
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Posted: 11/11/2023 12:14:42 AM EDT
[#11]
Quote HistoryQuoted: I put all of my money into CryptoZoo. Quote HistoryQuoted: I put all of my money into CryptoZoo. Their spread: 87% blow, 13% hookers Quoted: I put all of my money into a Ukrainian company called KriptoeKoin the Uno Reverse: 87% hookers, 13% blow |
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Posted: 11/11/2023 12:31:29 AM EDT
[#12]
She’s 41.
Perfect age that she should have been in a good position to mop up a deal after ‘08 crash. She had one of the best opportunities of our time to buy a home. |
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Posted: 11/11/2023 12:31:41 AM EDT
[#13]
Quote HistoryQuoted: And how much was a decent 3/2 in 1975? 45k? 50? maybe in the 85-90 range if you adjust for inflation. There's not much worth buying around here under 400k (I've been looking). 50k x 12% is a lot different number than 400x8% 50 at 12 for 30 years is ~$500/mo and aggregate price of 185000 dollars 400k at 8% for 30 is $3000/month and a over million dollars over the life of the loan. Nearly 10x the cost in total dollars What have wages done in the same time? They're not up 10x that's for sure. THIS is the math reality people currently face ^^^ Sure, we assumed a mortgage at 11% to get into our starter house in the 1980's....but it was a $37K place not a $370K place as it would be now. |
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Posted: 11/11/2023 12:43:53 AM EDT
[#14]
Muh 12% rates in the 70s...lol actually look at the numbers. I already have the home I plan to die in so this doesn't hurt me, but for people early in their careers right now is a shitshow. Sucks to be them.
Home price:median income ratio. Hint: higher is not better if you need to buy a home, especially your first one. Notice anything different about now compared to the late 70s?  Attached File |
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Posted: 11/11/2023 7:33:28 AM EDT
[#15]
Quote HistoryQuoted: Paying off credit card debt doesn’t seem to be the answer to the question. I know a couple with 6 figure credit card debt. They got a life insurance payout that would have easily paid off all the debt but they blew the money instead. 
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Posted: 11/11/2023 9:03:45 AM EDT
[#16]
Quote HistoryQuoted: I know a couple with 6 figure credit card debt. They got a life insurance payout that would have easily paid off all the debt but they blew the money instead. Quote HistoryQuoted: Quoted: Paying off credit card debt doesn’t seem to be the answer to the question. I know a couple with 6 figure credit card debt. They got a life insurance payout that would have easily paid off all the debt but they blew the money instead. Its more fun to spend the money on toys and fun, then go bankrupt and ditch the credit card debt. |
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Posted: 11/11/2023 9:05:33 AM EDT
[#17]
Quote HistoryQuoted: I know a couple with 6 figure credit card debt. They got a life insurance payout that would have easily paid off all the debt but they blew the money instead. No one remembers how much money you have saved while on your deathbed. You remember all the great memories of fun vacations |
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Posted: 11/11/2023 9:27:02 AM EDT
[#18]
Quote HistoryQuoted: Losers. Guess nobody ever told them about the late 70's early 80's when rates were 12 percent, 13 percent or higher. They could easily wait for home prices and mortgage rates to fall--- but that's not instant gratification. And when home prices averaged that of like 2 years of the median salary? 
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Posted: 11/11/2023 9:38:30 AM EDT
[#19]
US treasuries yielding 5.5% if you are still planning to use the down payment to buy a home in the near future. But if entirely giving up on buying a home, then total stock market index fund
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Posted: 11/11/2023 9:40:58 AM EDT
[#20]
Quote HistoryQuoted: And when home prices averaged that of like 2 years of the median salary? Quote HistoryQuoted: Quoted: Losers. Guess nobody ever told them about the late 70's early 80's when rates were 12 percent, 13 percent or higher. They could easily wait for home prices and mortgage rates to fall--- but that's not instant gratification. And when home prices averaged that of like 2 years of the median salary? 
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Posted: 11/11/2023 10:10:39 AM EDT
[#21]
Who needs a house?
Get a Shaggin Wagon. Let Velma and Louise move in and decorate the place.  Attached File |
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Posted: 11/11/2023 10:18:55 AM EDT
[#22]
"I'm investing in a dolly parton vacation trip instead.''
That should tell everyone they aren't dealing with a genius. Just dump it into 3-6 month CD's to keep it reasonably available, take earnings, dump into a ROTH if you want or save that or put into more CD's. Last one for me was 5.3% so not too bad considering the market is still jacked as far as what it's doing day to day and week to week. |
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Posted: 11/11/2023 10:53:54 AM EDT
[#23]
Quote HistoryQuoted: "I'm investing in a dolly parton vacation trip instead.'' That should tell everyone they aren't dealing with a genius. Just dump it into 3-6 month CD's to keep it reasonably available, take earnings, dump into a ROTH if you want or save that or put into more CD's. Last one for me was 5.3% so not too bad considering the market is still jacked as far as what it's doing day to day and week to week. |
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