There are homes in most areas that are well under 400k. Housing obviously needs to be cheaper but it’s not nearly as bad as the fediverse memes make it seem.
400k is nearly untouchable for most people right now.
My partner and I had to scrimp and save for years, and then borrow money from my family, and then go into a bit of CC debt to secure a house for 317.
And we’re two working professionals with no kids.
Median household income in the US ~80k. Your mortgage is supposed to be no more than 1/3rd of your income.
So that means the median household has about 2300 a month for housing expenses. My 317k house right now is running ~2700 a month (~2100 for the house, 600 for PMI and escrow).
So you’re probably only getting ~270k at most on the median income. 400k is way out of the typical buyer’s price.
30% of Gen z and 50% of millennials own homes. Stop blatantly making things up.
Homes are too expensive and should come down. Wholly agree. But majority of the population, even projected gen x will own their home. The median rate that they are selling at is about 420k +/- who you talk to.
Is everyone making shit up? Or are there places with expensive homes? Do you even know where the OP in the image lives to claim that they’re making shit up?
I don’t think anyone is saying the minimum house price is now $700k. But, living in Massaschusetts, even cities besides the uber-expensive Boston have more houses closer to $700,000 at list price than $400,000.
I could list the multiple cities I surveyed where capping the maximum price at $700,000 filtered more houses than capping the minimum at $420,000.
Unless you have research data that documents the median house prices for urban and near-urban locations, your $400,000 is just as much an anecdotal, “cherry picked edge case” as any other value.
You came in, gave no supported facts, but complained that someone’s anecdote is false and biased while fully refusing to engage in contextualizing the tweet.
There are homes in most areas that are well under 400k. Housing obviously needs to be cheaper but it’s not nearly as bad as the fediverse memes make it seem.
As someone who just bought a house…
400k is nearly untouchable for most people right now.
My partner and I had to scrimp and save for years, and then borrow money from my family, and then go into a bit of CC debt to secure a house for 317.
And we’re two working professionals with no kids.
Median household income in the US ~80k. Your mortgage is supposed to be no more than 1/3rd of your income.
So that means the median household has about 2300 a month for housing expenses. My 317k house right now is running ~2700 a month (~2100 for the house, 600 for PMI and escrow).
So you’re probably only getting ~270k at most on the median income. 400k is way out of the typical buyer’s price.
30% of Gen z and 50% of millennials own homes. Stop blatantly making things up.
Homes are too expensive and should come down. Wholly agree. But majority of the population, even projected gen x will own their home. The median rate that they are selling at is about 420k +/- who you talk to.
Posts real numbers from an actual recent home purchase
Also, this…
https://www.nar.realtor/press-releases/first-time-home-buyer-share-falls-to-historic-low-of-21-median-age-rises-to-40
My father told me with a straight face that a 3k a month apartment is ridiculous, because you can buy a house with that.
So yes, the memes are out there for a reason.
Well, you can…
But you may not like where you can buy a house for that much.
Ah very true
Because people make shit up.
That’s still nearly 7 full years of salary, in a world where people struggle to save even 10% of their take-home salary.
Not the point. It’s making shit up.
Is everyone making shit up? Or are there places with expensive homes? Do you even know where the OP in the image lives to claim that they’re making shit up?
I don’t think anyone is saying the minimum house price is now $700k. But, living in Massaschusetts, even cities besides the uber-expensive Boston have more houses closer to $700,000 at list price than $400,000.
It’s okay when my side uses cherry picked edge cases 🤷♂️
I could list the multiple cities I surveyed where capping the maximum price at $700,000 filtered more houses than capping the minimum at $420,000.
Unless you have research data that documents the median house prices for urban and near-urban locations, your $400,000 is just as much an anecdotal, “cherry picked edge case” as any other value.
You came in, gave no supported facts, but complained that someone’s anecdote is false and biased while fully refusing to engage in contextualizing the tweet.