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Investing and personal finance
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--- Quote from: IroNat on July 09, 2023, 07:40:20 AM ---A young single mom with two kids, unless she has a very well-paying job, should not be able to afford a suburban home with amenities.
My first house in 1984 was a 2-family in the city for $50k. Even at that I could barely qualify to buy it at then interest rates of 17%.
That same house 40 years later goes for maybe $110-$120k tops.
Young people today expect to start out with a house that their parents could only afford after 20 years that is $500k.
My first house 1984 $50k
2nd house 1989 $75k
3rd house 1997 $114k
Current house 1998 $200k
--- End quote ---
No disagreement but a 1984 dollar is about $3 in today's money..1998 is around $1.87 today. The problem is not just expectations but again earning potential at limited value in the global labor market. This is the reason for the minimum basic income argument. I don't see a time when those that provide value just hand it over to useless eaters to sit around in air conditioning. Certainly not when times get tough, which they will as the money printing continues and creates more and more lower class.
ThisisOverload:
--- Quote from: IroNat on July 09, 2023, 07:40:20 AM ---A young single mom with two kids, unless she has a very well-paying job, should not be able to afford a suburban home with amenities.
My first house in 1984 was a 2-family in the city for $50k. Even at that I could barely qualify to buy it at then interest rates of 17%.
That same house 40 years later goes for maybe $110-$120k tops.
Young people today expect to start out with a house that their parents could only afford after 20 years that is $500k.
My first house 1984 $50k
2nd house 1989 $75k
3rd house 1997 $114k
Current house 1998 $200k
--- End quote ---
Depends on where you live.
A 1200 SF starter home where i live is $480K
ThisisOverload:
--- Quote from: Gregzs on July 08, 2023, 06:31:49 PM ---DESTROYING The American Dream With Build To Rent Homes
--- End quote ---
They are creating homes that are way above what the average person can buy and renting them. There is a good side since a lot of American's don't understand credit and savings.
Both of the builders i develop subdivisions for are getting rich on BTR (build to rent).
But all the renters are people who can't qualify to buy a $300k home, but can rent. Plus there are not many homes less than that price, so it's BTR homes or shit apartments for the same price.
IroNat:
Jim Rickards sounds the alarm and explains that you need to prepare for what's coming next. Jim explains that we have never seen this before and a severe recession is coming.
FitnessFrenzy:
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