A room in a shared house with strangers is the new “home”. Killing my self working and studying for nothing.
Working remotely fell on the face and smashed its nose the moment it stood up.
Home buyers need 80% more income to buy than 4 years ago
71–80 of 100 posts
Re: Home buyers need 80% more income to buy than 4 years ago
#72Earlier quoted context omitted.
> Housing is close to a perfectly-competitive market. Pick any US jurisdiction (with the possible exception of Puerto Rico? I’m not very familiar with how taxation works there) and contemplate the tax implications of selling an appreciated property. Further contemplate how those implications are different for different potential buyers and sellers of that same property at the same price. Then say again that it’s perf…
Transfer fees and title fees equally affect any buyer and any seller in the long run, don't they? >Further contemplate how those implications are different for different potential buyers and sellers of that same property at the same price. Sure -- this is why I was asking for examples. "Rich people having more options than poor people" (which is what I think 1031 exchanges and your nod to capital gains refers to) is…
> "Rich people having more options than poor people" (which is what I think 1031 exchanges and your nod to capital gains refers to)
Not really. They affect buyers and sellers in ways that are, for the most part, quite arbitrary. In expensive markets, capital gains taxes can hit homeowners harder than landlords, which has all manner of weird effects. (And homeowners are not necessarily poorer.)
Look around any old-ish city with heavily appreciated property values, especially in California, and you’ll see older people in oversized houses who can’t really afford to downsize. This, IMO, seriously corrupts the market and hurts people who want cheaper housing.
Re: Home buyers need 80% more income to buy than 4 years ago
#73> Auto loan debt increased by $12 billion to $1.61 trillion I really can’t understand how people are so desperate to drive a new car that they’d go into debt to do it. Why would you sign up for years worth of payments on a $15k+ car when you could just buy a used one outright for like $4k, and not have to worry about it? A house, sure, you then own real estate, you even can borrow money against the value you’ve alrea…
> Why would you sign up for years worth of payments on a $15k+ car when you could just buy a used one outright for like $4k, and not have to worry about it?
Because I want my child to be in a relatively new car, with a proven safety record, no history of accidents, surrounded by airbags and all the other safety features we've come up with.
For $4k, she'd be sitting in the back seat of a 1992 Nissan Sentra, counting lane-changes through the rusted-out hole in the back-seat floor: "one... two... dad, the hole getting bigger!"
Re: Home buyers need 80% more income to buy than 4 years ago
#74Earlier quoted context omitted.
Yes you did miss something. You missed that it’s 10 families, with 20 houses. With one family owning 18 of them.
So you are saying 80% of homes aren't lived in? I don't believe you, there is no way those numbers are anywhere close to accurate.
No a good portion of them are turned into rentals controlled by a few.
The demand will not go down. The supply always lags behind, and can face hurdles to build, for example - renters are generally not present in city politics.
The supply then use price controlling algorithms to slowly increase and extract the wealth and income of the renters.
Re: Home buyers need 80% more income to buy than 4 years ago
#75Earlier quoted context omitted.
As much as it pains me to say, people with good salaries can sometimes meet other people with good salaries in their city and fall in love.
This is scenario in realm of possibilities of a Disney fantasy. Well off woman will not look for sharing in half high living costs. If you haven't learned this yet, you will.
My dude, all it takes is for a 27yo Product Manager to fall in love with a 28yo Software Engineer. Or two lawyers. Etc. At least half the couples at my daughter’s school are dual income.
Re: Home buyers need 80% more income to buy than 4 years ago
#76Earlier quoted context omitted.
This is scenario in realm of possibilities of a Disney fantasy. Well off woman will not look for sharing in half high living costs. If you haven't learned this yet, you will.
My dude, all it takes is for a 27yo Product Manager to fall in love with a 28yo Software Engineer. Or two lawyers. Etc. At least half the couples at my daughter’s school are dual income.
Male to female ratios at most of my workplaces so far had been maybe 10 to 1 or worse and the ladies weren't looking at all, at least not at the workplace. Companies could hire more PMs, POs, Scrum Masters, and "workplace animators", but it's not their job to associate couples. Lawyers... whoa... you better be from an appropriate family then it just works, otherwise it just doesn't.
Re: Home buyers need 80% more income to buy than 4 years ago
#77The cure for high prices is high prices. There are a lot of conspiratorial comments blaming everyone from investors and speculators to contractors and developers. The reality is that it's largely homeowners and the government to blame. The number of homes bought by investors is a rounding error. And developers will build homes as long as there is profit margin. The government (and society) turned housing into a retir…
In Germany there's no such thing as a "housing ladder," and yet the situation is much worse here than in the US. I don't think the housing ladder can be blamed alone.
Re: Home buyers need 80% more income to buy than 4 years ago
#78Earlier quoted context omitted.
Could you elaborate on Canada's approach? Are you referring to adjustable rate mortgages?
No, although that also would help (though I don't think the downside is worth it). I'm talking about people up north realizing that massive amounts of immigration isn't exactly great for home/rental pricing. "Build more homes" is easy to say but hard to do - you need skilled workers, there's only so much land in specific areas, NIMBYism, etc. "Reduce immigration" for some is hard to say but in practice is easy to do,…
The problem is that people generally have good reasons to immigrate. People don't deserve a lower standard of living just because they weren't born in a first-world country.
Re: Home buyers need 80% more income to buy than 4 years ago
#79Earlier quoted context omitted.
My dude, all it takes is for a 27yo Product Manager to fall in love with a 28yo Software Engineer. Or two lawyers. Etc. At least half the couples at my daughter’s school are dual income.
Male to female ratios at most of my workplaces so far had been maybe 10 to 1 or worse and the ladies weren't looking at all, at least not at the workplace. Companies could hire more PMs, POs, Scrum Masters, and "workplace animators", but it's not their job to associate couples. Lawyers... whoa... you better be from an appropriate family then it just works, otherwise it just doesn't.
Who said anything about finding a partner at your workplace? Your work shouldn’t be your dating pool for many reasons. Generally you meet someone outside of work. And … if you aren’t finding a professional that makes good money, I’d perhaps look inward. Really not that hard to find, despite your insistence it’s some sort of fantasy.
Re: Home buyers need 80% more income to buy than 4 years ago
#80Earlier quoted context omitted.
So..... Now they have to permanently "rent" them (maybe from a company they have ownership in)? Maybe we should just build more houses.
Any suggestions on how to make that happen? People are already free to build as many houses as they want. They don't because building houses is expensive and there are easier ways to make more money with that capital
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