A U.S. household now needs to earn $114,000 annually to afford a median-priced home. That's up 70.1% from $67,000 just six years ago, per Realtor com
A U.S. household now needs to earn $114,000 annually to afford a median-priced home. That's up 70.1% from $67,000 just six years ago, per Realtor com
I am literally never going to own a home, and will be lucky if I die in my apartment.
Thanks I thought I was imagining that home prices almost doubled since COVID.
And it heavily depends on the area, with that salary you won’t be able to afford anything in CA or NY, rates are still very high, and prices are increasing potentially creating a new housing bubble…
There are pockets in California with somewhat affordable homes, however, the cost of living will price you out.
Count Texas out too.
I read Montana & Colorado are also ridiculous.
Too much big money buying up homes.
Fiat currency says what?
FAFO
quick question, who was president in 2019?
Don, sadly
it looks like we fucked around and trusted biden for a majority of the last 6 years and found out.
Correct…
You think that phrase aint gonna apply to you?
Nah strictly doesn’t apply to me
Big doubt homie bsky.app/profile/uelo...
Must’ve been a different guy who posted that lol
You have a 1984 quote in your bio.
I do
> six years ago so uhm...
It was still awful under Biden.
Quite awful yes
Better stop voting for establishment Democrats then!
That’s the goal
Great meme
Maybe, but not if you have any student loans, & definitely not in ridiculous real estate markets like the Denver area:-/
Federal min wage should be $28/hr.
www.axios.com/local/tampa-...
This. People keep talking about exploding home prices like they're some natural phenomenon like the weather or plate tectonics. If home prices are going crazy and you can't afford it **it's because someone who has money IS buying it**, and spoiler, those are investment groups looking to rent them.
Six years ago I could rent a nice place for $1,300. Now there isn’t anything under $2,000.
"I KNOW WHAT THE HELL IM DOING"
Trump had a fit when interests rates went up very slightly his first term. Rates were so cheap investors gobbled up houses to rent out. Now nobody will build with post covid prices, tariffs on top of high interest rates. So supply stays down. Sucks.
A CBC article was framing stagnant condo prices in Toronto and Vancouver as an issue. Housing should not be hoarded as investments. Do they typically rise in value and contribute to retirement? Yes. But they are also a necessity of life and should be seen as such before anything else.
Wow
That's called a bubble.
Fuck hey.
and yet wages haven’t budged anywhere near 70% MATTER A FACT last time I checked it was still $7.25 which was established in 2009. GEEE. I WONDER WHAT PRESIDENT DID THAT??? The system isn’t broken. It’s working exactly as designed; having consumers struggle and always foot the bills for the Elite.
No wonder I always feel poor.
Thanks to Wall Street’s intervention in the housing markets as buyers
@whstancil.bsky.social
Which is to say if you are a single person good fucking luck, you're going to have to work your balls off
Was probably $114k six years ago too if we’re being honest.
I'm sure wages have kept up right, right? Padme.jpeg
Americans need to earn about 70% more today than six years ago to comfortably afford a median-priced home Read more: unusualwhales.com/news/america...
I make $90K, my partner makes $75K and we cant afford anything other than a shit box. Rather rent in a decent neighborhood than buy at this point 🤷🏽♂️
mmm I need to see the math on that. $114k seems low
Over here in Seattle, you can easily spend a million dollars on a home that needs a decent amount of work, has no garage, and no A/C.
My parents house, a rambler with a garage, built in the 70s has had its valuation skyrocket. They bought it in 91 for stuff 100k-110k. It's now "worth" 560k. What a fucking joke
WTF
It's a damn shame what is happening due to mostly tax cuts for the rich..insane..everytime a damn Republican gets in office we go through the same damn thing...and I mean everytime..
📌 Apartments are not homes. —The #UnLanded
-- suburban boomers
Just wait a few more years while orange screwup devestates the country.
At this rate I’ll probably be in my mid-30s before I get a home. I don’t even have kids.
Mid 30’s here, no kids, finally getting pre-approved for a mortgage. There’s never a right time. Hoard cash, minimize spending, make that a lifestyle, and you’ll be alright- hopefully things will get better and you’ll come out in a great spot.
Careful buying at the height of a bubble. You were a tad too young to take advantage of the last crash, but you're at the perfect age to go upside down on your mortgage for the next
Whale, by far, you are my most informative follower.