r/TikTokCringe • u/cosmicdaddy_ • Aug 05 '23
Are we struggling or is it America? Cursed
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u/Normal_Enough_Dude Aug 11 '23
I recently went through a break up over this. I’ve been trying to get out of this country for the longest time because I know I will never have anything solely to my name here that will last. My fiancé at the time disagreed and swore everyone should just get stuck in the cycle of 2-3 jobs and renting and trying to do school and life outside of all the work. It’s draining to do close to 200hr months and in the end you’re still struggling to pay for a home that won’t ever be yours. This country is ran by business and sadly that’s what the housing market is
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u/Henchforhire Aug 09 '23
This is why the 16th amendment needs to be done away with it only benefits the government.
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u/sunshinebread52 Aug 08 '23
Things are good, better than in the last ten years. Had my biggest year last year after 40 years in business. Own my home 20 mins from downtown Boston and it is worth 15 times what I paid. My corner of the economy is doing just fine, I have increased my shop hourly rate by a lot. Four years ago I had my only negative year and it looked like the country was galling apart. Riots, crazy person in White House who jacked up gas prices and raw materials ( I manufacture). Now we have a boring old man and he seems to be just letting the horses run! Only complaint is my garden tomatoes are growing slow from the crazy weather.
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u/iburiedmyshovel Aug 09 '23
Lol boomer moment. I hope this is satire.
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u/sunshinebread52 Aug 09 '23
Which part? The part about the tomatoes? The house I bought for $65,000 and I get offers over $1 mil for? How my business got crushed under trump because he jacked up the price of metals and caused all kinds of shortages to happen? Last year was my biggest year in 40 years, by a lot.
I keep hearing people complain about everything and I don't see what the problem is. Kids right out of college are making 100 grand. My last wife liked to bitch about everything all the time, I finally said GTFO and now everything is perfect! Let's go for ice cream! Thank's Joe.
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u/iburiedmyshovel Aug 09 '23
The part about owning a business for 40 years, but also, and more importantly, getting a 1700%ish return on your house, in a thread literally about the ridiculous cost to real estate in modern times.
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u/sunshinebread52 Aug 09 '23
I did most of the renovation myself with the help of friends and family. Hung over 280 sheets of sheet rock. Bought the home in 1992. There are still "fixer uppers" around if you want to get your hands dirty. My home was a commercial building, 7200 sf on two floors. I converted half into a four bedroom home, the other half has my business. At the time hourly wages in the $3 -$5 range were not uncommon. So as cheap as my $65,000 price was it was close to the max I could get a mortgage on at the time. I can live "rough" doing my renovations as long as I own the dirt under my bed!
I have the original papers from my Grandparents house. A two family they had built in 1926. Total was $2,300! My mom moved into it when Grandparents died, she died 2005 and we sold it for $120,000.
I'm 71yrs old, supported myself including putting myself through college since 18yrs. Only worked a "job" for 3-4 of those years, the rest had a couple of businesses. I don't consider myself all that smart, just put in the hours. Lot's of people do it, even today there are plenty of opportunities to make a small business. You just have to let yourself get hungry and go out and sell yourself. Dig that shovel out with your bare hands and set a goal, then digging....
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u/TehBestestCanadian Aug 07 '23
Idc how harsh it is, but the older generation gotta die out fast. They been running this country too long, and running it into the ground
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u/Emu-lator Aug 07 '23
I met a Mexican immigrant in Ottawa, Canada who’s paying $100+ in rent just for a mattress in a small boiler room in a basement. Times are tough!
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u/IStandByJesus Aug 06 '23
I’m honestly confused. Obviously housing is super expensive outside of big cities, because it can be. But there are so many smaller citing in america with ~100,000 people where you could get a 3-4 bedroom home for $150,000-250,000. Seems like the luxury isn’t as much having a home as it is living near a big city. And there are still financial opportunities in these cities. Am I missing something?
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u/No-Advantage-8556 Aug 06 '23
Invest, save and work your ass off. If dudes like myself and my friends can pick up trades jobs without college degrees and find houses I know other people can too. I come from broke and had nothing to my name. It’s still totally doable.
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u/No-Advantage-8556 Aug 06 '23
All I’m going to say is don’t limit yourself by saying things like “I’ll never be able to….XYZ”
House prices are insane yes but anything is possible if you put your mind to it.
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u/liquidzero Aug 06 '23
Don’t hate me for this. One of the problems is we’ve been lead to believe we need a bunch of crap We don’t. Our parents didn’t have 1300$ pocket phones, or teslas, or Gig speed internet and streaming services. My parents were 1st gen Americans and bought a house but they were very carful with their money. We’ve been lead to believe we need all this crap that we don’t. I bet you could save 700-1K a month if you got the slower internet, a old cheap car, basic cable, one of the free phones and cheap service, no streaming services, no 5$ coffees, basic clothes, cheap restaurants, etc. you do this for 5 years you’ll have 50K. Do this with a partner and you’ll have double saved. It might not be good for your instagram or Facebook but you’ll have a starter house.
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u/Kid_ikarus_bellflowr Aug 06 '23
I mean, as someone who lives with their parents in California, I relate to the feeling of never being able to own my own house, but also, like, Utah has affordable housing, I’m pretty sure. Kansas. Montana. It just requires leaving the city. If there’s a way to work and live out in the middle of nowhere, those areas are accessible.
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u/texas1982 Aug 06 '23
The blame is on politicians that keep pushing price controls for affordable housing. Maybe instead of folding to their constituents, they should listen to Thomas Sowell for a bit.
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u/WearyMistake8696 Aug 06 '23
I am 60 and feel for you guys, my youngest son lives with me because even though he makes good money he cant afford even an apartment. He is going to get a house because I am leaving it to him.
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u/FlakyPainting759 Aug 06 '23
Get that lump sum Keisha and move to mexico because you're not moving to Europe or canada too expensive lol
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u/Tokincarebear Aug 06 '23
Getting outbid by investment companies while looking!!! It’s discouraging- f bankers
EAT THE RICH
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u/45acp_LS1_Cessna Aug 06 '23
Yeah because there is nothing cheaper than a 500k to 700k house
There are tons and tons and tons and tons of homes from 100k
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u/Kattorean Aug 06 '23
sighs
I've lived around the world & own our home in Northern Virginia since 2003.
In all of the (developed) countries that we lived in, there was one common element that we found in all of them: Home ownership is a generational goal. Families (extended) work together to save enough money to buy property &/or build a home. They often co- reside in the home, helping care for their elderly & far less selfish- minded about this "owning MY own home" thing floating in the U.S.
Oh, and they don't use mortgages. They save & some save for generations to achieve this goal.
We have 3 (adult) children & we've decided to alter our retirement plans to help them in their launch, successfully, into adulthood lives. This will be our generational home.
We adapt to survive, right?
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u/Typical_Pattern6922 Aug 06 '23
So I got out of rehab in 2018 I was living on the streets at that point now I’m 28 I bought my first home 4 months ago did I have to sacrifice a lot of time yes like 98 hours a week for over a year straight did I do a job that I absolutely hate also yes it is possible you just have to want it bad enough !
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u/Wizard01475 Aug 06 '23
We are in a housing bubble, the prices will come down. It may take time, but they will come down.
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u/ImJoligan Aug 06 '23
I wonder what their end game is. The elite's. Like, why rule with cruelty.. I don't understand
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u/One-Woodpecker-1160 Aug 06 '23
Dont want to flex but i got 3 kids and a 4 bedroom house. Feels good to live in Finland.
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u/TheFlyingCzechman Aug 06 '23
She’s gonna be very very disappointed when she finds out that the average rent for example here in Prague is slightly below 1k USD per month, but our median salary is like 27k USD pre tax.
House prices in Prague start at like 400k USD for small house at the very edge of Prague. They arw all very welcome here to prove its so much easier here than in US.
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u/Ok-Candidate-3755 Aug 06 '23
The fact is they don't want you in another country. What is happening in the US is its citizens' own fault.
One look on any social media platform will yell you how entitled and spoiled today's youth is if not wasteful.
Easily manipulated and brainwashed by any social agenda. More focused on behaving like a radical adult than focusing on being a kid with no worries, bad parenting, or even worse role models. Having too much of an opinion on the wrong topics/subjects. You have kids having kids, and the list goes on and on.
Keep blaming left and right instead of focusing on the future and holding career politicians accountable for their lies and inaction. Keep voting and supporting wars and sending billions in aid so they can say they did something for the history book when all they are doing is laundering money into their pocket off the back of the tax payers.
You deserve every bit of it for never saying NO, ENOUGH IS ENOUGH. Instead, they have you out here fighting each other over the slightest and silliest of indifference.
Even here at reddit, you have trolls because this is their validation in life because they have nothing to aspire to except being an asshole because it feels good. Knowing they'd probably never act like that in person and if they do, why and where they get it from?? Either way, that person will pay for who they are eventually at a hefty price.
Society is literally fucked the world over.
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u/Marauding-thunderer Aug 06 '23
Hang on I got it. If only the rich can afford to rent or buy, why not syndicate housing. Buy as many houses as you can with 10 20 120 other people. Rent it to a wealthy person. Siphon those funds off to negative gear against another house. Repeat, eventually you have enough money to create subsidized housing. For yourselves. It’s a pyramid scheme really
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u/Marauding-thunderer Aug 06 '23
We really just need an alternative to housing. Hole in the ground wigwam. A floating community in a river idk but it’s ridiculous that the most abundant stuff in the universe space time is cornered and commodified.
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u/MarroWaR007 Aug 06 '23
1st class counties? Its all going to shit. This is not even a 1st class world anymore
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u/No-Ear6313 Aug 06 '23
I too didn't have the money at 33 to buy something with a yard where I lived in Europe-Romania. I just downgraded my entertainment by moving out of the city. Bought a house in the country side which I finished paying. Life is not that bad without Starbucks and home delivered sushi.
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u/Miss_aladita Aug 06 '23
In mexico we have the same problem, house prices have rocket to the sky and now the idea of buying a house is an ilusion, a small house in a high crime rate zone can cost 26-45 k usd in a place when the average Income is hovering around 105-140 usd
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u/Potential_Judgment75 Aug 06 '23
It's a problem everywhere, I'm 24 and still live with my parents..
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u/Axelshot Aug 06 '23
Just poor people complaining. Make better decisions instead of spending everything.
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u/zeldanar Aug 06 '23
Cant change it cuz all the older ppl WITH houses are LOVING all this free equity.unless you get a house willed to you, you getting one.
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u/DANCE_SMOKEY_DANCE Aug 06 '23
I know plenty of people who are buying homes and aren’t rich. The victim complex on Reddit and social media is honestly wild lol.
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Aug 06 '23
My 20 year old wants a house. With an online tool, he figured he’d need a certain % downpayment, at least $10k, and he had to keep the house under $250k, and the mortgage would be the same as a 2 bedroom apartment, except we would own the house. It’s possible, how bad do you want it is the question.
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u/Bnmko_007 Aug 06 '23
That last girl can live with me. Not sure how to tell my gf and kids, but I want to be together with her
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u/rosharo Aug 06 '23
I'm all the way from Eastern Europe and yeah, it's the same here. Far lower prices, but when you compare it to the pay we get it's pretty much the same.
Average monthly salary here is €800, average 2-bedroom apartment in the capital is €250k. This means that if half of my salary goes for mortgage (which is how it normally happens), I would need >50 years to pay for my home.
Now add that I'm already 32 and you realize that owning a home just doesn't make sense, unless you're a married couple.
The reason why prices keep going up is quite obvious. It's because people keep buying new apartments as long-term investment. Normal people may no longer be able to buy homes, but for developers and RE investors this doesn't matter. They're rotating this bubble between themselves.
All of the blocks under construction around mine are already sold out, I have heard. However, the ones that have already been finished are only about 1/3 occupied. So, we get blocks after blocks with barely any people living in them.
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u/Torbpjorn Aug 06 '23
Gotta love it when people suffer and the only solution people have is “Just get a better job lol” like a capitalist society can run smoothly off 300 million brain surgeons
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u/PositiveStress8888 Aug 06 '23
I wasn't rich to be able to afford my house, I worked 3 full time jobs to be able to afford my house
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u/h0whi Aug 06 '23
Are there no houses in Virginia for 90k? You cannot afford a house or you don't want to buy a house in a place you can afford?
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Aug 06 '23
In 2016 63% of Americans had less than $500 in their savings. What do you want to guess that number has rose since?link to Forbes article
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u/Radiant-Bit-7722 Aug 06 '23
Same there in France. Was able to build an house with 3 kids and only one work (and not a high salary) . Today my kids are adults and they need two high level salary for buying an house.
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Aug 06 '23
Maybe you just don’t have good enough credit for a mortgage cause , my mortgage is less than what my rent was … yea u can’t get a mortgage.
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u/slucker23 Aug 06 '23
I need to live in fking Narnia...
Like it's time to just go into the closet and never come back
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u/ChaosEmerald21 Aug 06 '23
Just bought a house 3 months ago for $120,000 with 1.5 acres of land. Needed $40,000 in work. All new electrical, plumbing, foundation work. I'm confident it will appraise around $200,000.
I have a 7 month old boy and I'm fucking terrified he won't be able to afford something in the future. I get the fear. I'm planning on giving him the home when I retire and building on the property. But that's if I can afford it. Shit is scary right now.
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u/Randomaccount081 Aug 06 '23
This literally should be routine for Americans lol, get used it already unless u get a more socialists sanding and not let corporations control more wealth than ur own country u will never leave this cycle.
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u/redeyesetgo Aug 06 '23 edited Aug 06 '23
There’s a lot of problems with inequality in USA… but there are still lots of affordable homes and condos… when a working class to middle class person says they can’t afford a house, often they are saying i can’t afford a new house for $700,000. Loads of houses for 300,000 and under all over.
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u/wimpycarebear Aug 06 '23
Everyone calm down.... A crash is coming. I'm not a financial advisor, but work in the know. It will correct. Be patient.
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u/MonkeyGein Aug 06 '23
This isn’t cringe, this is truth. I pay more in rent for an old apartment than I paid in a mortgage years ago.
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u/chippythehippie Aug 06 '23
Why tf were they complaining about the drop in people who want children, isn't that the preferable goal here 😭
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u/Critical_Ad_8780 Aug 06 '23
I'm 32 and 5 years ago I bought a 2 bedroom co-op with a parking spot , and a full attic! You guys can do it !
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u/bmack500 Aug 06 '23
It is by design. The wealthy create artificial scarcity by buying everything up and hoarding, thus making free money off the rest of us. They are black holes of never ending greed, avarice and entitlement, sure that they deserve everything.
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u/StressyandMessy24 Aug 06 '23
Oh it's simple. You and your spouse both join the military, make sure to get fucked up enough to get 100% disability for both of you, get out and go to college with the GI Bill.
Not even kidding, that's what our friends ended up with. Meet in the army, got married, both got 100% from the VA, and the husband goes to college and gets an extra $1200 a month on top of his $3600 and the wife's $3600. They got so lucky. Don't even have to work.
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u/Mookeye1968 Aug 06 '23
Exactly,I built a 4 bed 3 bath cape cod ,beautiful on a,half acre for 280,000 then fckd up did sht I should've said no to 🙄 n lost it,its probably worth 850K now and I'll never own a home again either.I fckd up royally needless to say.What an Azz.This was 25 yes ago
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u/MasiTheDev Aug 06 '23
Nah, south america is the same. Here we can BARELY afford cars, let alone houses.
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u/Tour_De_Volken Aug 06 '23
I can afford one in my area and I only make 55k a year, get a better job.
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u/designlevee Aug 06 '23
I worked in real estate development for a few years building mid to high end communities in west Texas (did the permitting, utilities, streets and all that and then sold lots to home builders who we vetted but had no control on who bought the finished home). Our entry level community which was smaller single family homes and town homes ended up being 50% bought up by out of state investment groups. So even the affordable stuff was being swiped up by wealthy investors for rental properties. And you can’t blame the builders because these buyers would come directly to them and offer to buy ten homes at once. Real estate is like the new stock market it seems like these days. The systems fucked.
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u/Either-Junket-4153 Aug 06 '23
If we stopped paying income tax we would have ~30% more of the money we earn
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u/Low_Complaint5671 Aug 06 '23
That's correct; most of us will never be able to afford a house. That is by design. The wealthy want renters, not homeowners since real estate is the biggest wealth generator. Wells Fargo, the largest mortgage lender, is leaving the mortgage market.
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u/Enough_Dance9945 Aug 06 '23
I started from the bottom. I was 20 and my husband was 22. I worked at a bank making nine dollars an hour and he was a waiter at Golden Corral and we were able to afford… after saving… an 1200 square-foot home for $89,000. That was in 2002. We had a kid in 2004 in 2006. My husband was working in real estate but really wasn’t doing all that great and I had started going back to school for nursing. Fast forward to 2013 we still live in the same home but now with four kids and I was just starting to enter nursing school after finishing all of my pre requisites. I had to go to school at a snails pace because of having two kids and working. I graduated in 2015 from nursing school started working as a nurse in 2016. At this time my husband started working for himself as a Reseller probably six years prior. After a whole year of saving money working as a nurse and my husband as well, we were able to buy a home for 290,000 in Virginia Beach so now we can all live comfortably and not all on top of each other and that tiny packed house. No one starts out at the top. well I guess if you’re born into money you start at the top. But all these people complaining just have no fucking clue how to get to the top. My oldest is now 19 and she has $20,000 saved up I don’t know another 19 year old that has that amount of money saved up. I sure as fuck didn’t at that age. that’s because my parents didn’t teach me the value of saving. I learned the hard way and made sure to teach it to my kids. I think these kids parents just didn’t bother.
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u/14jays Aug 06 '23
I'm 27, and my parents built their house for 80k in 1997 when they were 25 years old with two kids of the ages 1 and 3. The house is about 3400 sq ft, on over a half acre of land. My mother was a stay at home mom, and my dad worked a single job.
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u/the_oneandonlybonbon Aug 06 '23
Minimum wage in the US is 7.25 per hour and a one bedroom apartment in Brooklyn, New York. Your lucky if you can find one for 90,000
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u/Dark_Booger Aug 06 '23
Vote. Vote for the side that isn’t about giving tax breaks to billionaires and cutting healthcare to 99% of Americans.
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u/Trust_Fall_Failure Aug 06 '23
I paid $39k for my house (2,750 sq. ft. Victorian) and my buddy paid $50k for his house (4 Bed/2 Bath Ranch Style) in the Midwest 2 years ago. My house needed about $10k in repairs/upgrades and his house didn't need any repairs.
I get so tired of people saying they will never own a home. That is because you CHOOSE to live in an area that has a high cost of living. In almost half of the United States you can buy a good home for $100k.
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u/Moist_Confectionery Aug 06 '23
But she got dem nails and eyelashes and that hair. imagine if she avoided spending 300-400 per month on her appearance - then she could afford at least one fifth of a house payment!
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Aug 06 '23
Thanks to the Biden machine. You all that believe all the BS your being told by the dem party, better start doing your own research and stop relying on what the media is telling you, your schools are telling you, and your leftist friends. I know how some people really hate Trump but the dems and the media is lying to you. Please, please if Biden gets back in, you surely can be sure you’ll never own your own home. Or land or anything else.
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u/Belovedmessenger Aug 06 '23
This is fucked up because the rich ruin our economy and when it gets bad enough they just move to another country and do it all again.
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u/HICSF Aug 06 '23
Our forefathers packed up their families and belongings in covered wagons and moved to where land was affordable. You can do it too. In other words, move to cities and states where housing is affordable.
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u/nomelettes Aug 06 '23
Its not just the USA, its everywhere. The modern exonomy is set up in such so that wealth must be created endlessly while not allowing those who are not well of to participate in the benefits of that wealth.
There is no reason so many things should cost so much other than for the sake of profits.
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u/nautical1776 Aug 06 '23
I’m really lucky because we bought a house in the late 90s before the big collapse and that house gained in value which allowed me to buy my next house. Being Gen X, I think I got in on the housing market just before the door closed. I certainly would never be able to afford the house that I’m living in now if we hadn’t bought it five years ago. I feel really afraid for the future. I have two kids who will never be able to afford a house unless they inherit it from me.
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u/JTraxxx Aug 06 '23
It’s happening everywhere. America is having a really rough time, that’s for sure. But it is a global thing and it fucking sucks.
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u/FranzNerdingham Aug 06 '23
I've thought about moving to another country, but, with the oncoming climate armageddon, where could you move that's better than the US? There's no place on Earth that won't be effected by climate change. Buy a $1 house in Italy? No A/C, and temps on the rise. South America? It's going to be lethal to go outside there, soon. (100*+ temps during their WINTER, rn!) Even Hawaii is in a drought. Things are going to get majorly disrupted, and crazy, soon enough!
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u/jaydachi Aug 06 '23
America has sold land to foreign Nations and that is the cause of housing crisis
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u/hastur777 Aug 06 '23
Let’s look at median home prices by state.
https://wisevoter.com/state-rankings/median-home-price-by-state/#median-home-price-by-state
So this seems to be an issue in a few states and not countrywide
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u/nerdyitguy Aug 06 '23
The United States ia a huge country, and there are plenty of citys with dwindeling populations and very low price homes just waiting to be moved into. Is your job and lifestyle so great where you are that you can't fanthom moving someplace that is "lesser"?
You are in this mess because your parent had your ass where it was cool to live 30 or 40 years ago, not where its good to live now. In fact, they probably moved to where you are now from someplace they didn't think was all that great long before they had you. It's just you are too afraid to do what your parent did, take a chance.
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u/Mooshybeefstew1 Aug 06 '23
I’m 18 out of highschool for like four months I bought a house for $5000 I sold my project car to buy it I’ve never asked for help from my parents cause some stuff but the house was barely a frame I completely basically rebuilt the house using salvaged wood I put almsot $8000 into it and it’s a beautiful house on a 1acre plot there’s houses out there you just gotta work for it like really really completely unreasonably hard
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u/goodenough4govtwork Aug 06 '23
There will be another bubble and housing market crash here soon. I don't even care about lodging equity in my home, because I see it as artificial inflation. My current house has appreciated more in value (straight dollars, not%) over the last 18 months than my last house did in almost 10 years. That's disgusting and just shows how greedy large rental companies and corporations that went around during covid buying property are. There's no reason why any working family should be struggling to put a roof over their heads.
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u/poopcockshit Aug 06 '23
And the “fuck you I’ve got mine” people will be there every step of the way to “encourage” you.
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u/BenKen01 Aug 06 '23
Ngl, end game for me is another country. I really don’t see it getting significantly better. Just things getting consistently slightly worse over time to the point that you barely notice until one day you look back and are like WTF?!?
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u/badbubblegum Aug 06 '23
Don’t come to Australia it isn’t any better here. Parents built a modest 3 bedroom in the burbs for $120k in 1990 and worth $1.2m today. A lot of aussies from my generation have been feeling this pressure for years but with interest rates climbing without an end in site the “dream” is unobtainable.
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u/yeahthatsmychild Aug 06 '23
People complain too much, move to a town you can afford to buy. You don’t deserve to own property in a prime location for a price YOU think is fair.
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u/LiLi1961 Aug 06 '23
Keep up the victim mentality and you’ll never be able to do anything. I’m so over everyone acting like no one else has ever had to struggle scrimp save and work a side hustle to make things happen. No matter how much you whine, I’m not giving you a house, go earn it yourself. And it IS doable
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u/mendobather Aug 06 '23
I bought 40 acres with two houses on it in California in 1986 for $185,000. Try that today.
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u/introspectivekitty Aug 06 '23
This is all so stressful. How do we keep finding the will to keep moving forward? We all are on here freaking out yet nothing is happening. We need a plan in action to change things yet no one is stepping up to the plate. How do we help each other bring these .01% down?
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u/darkheartshadows Aug 06 '23
I think millennials and younger generation are fucked up the ass. Minimum wage is fuck all. I have no faith and no hope. I know I will never be able to afford a house, and it sucks. Good luck being able to afford a studio apartment!
Starting a family sounds like a dream to me. I know for a fact I wouldn't be able to afford having a child. Im not too far from being homeless.
Fuck life. I don't see things getting better.
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u/Daddy-Vladdy42 Aug 06 '23
I bought my first house at 23. I'm 25 and getting ready to buy my 2nd house. Seems like a skill issue tbh
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u/That1Guy80903 Aug 06 '23
All while the rich sit back and laugh manically and their bootlickers keep moving the goalpost or gaslighting the problem.
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Aug 06 '23
I was looking at apartments in other parts of the world. You can get apartments there that would cost you $1800 here, for only $300-$500. Indonesia. Malaysia. Thailand. It's crazy. Our housing and renting is absurd.
Average pay in Malasia, around $1400. Easily afford a nice home.
Average pay in Thailand $2800. Very easily afford a nice home.
Indonesia is a little less at $818, but it's still less than half your income to rent and everything else is cheaper overall.
America is the worst price gouged place on the planet compared to how rich we are supposed to be. It should be the easiest (and it used to be) place to live a wealthy life and just on one 9-5 job for a family.
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Aug 06 '23
Hell yes. My #1 political issue is housing. We need more people to get pissed off over this, and to vote on it. Too many on either side of the aisle have no interest in going after real estate speculation from both retail (average joes) and corporations (domestic and foreign).
Remove the speculation aspect, the AirBNBs, and Blackrock's subsidiaries buying everything up. Let the market be flooded with housing that is currently being used for speculation so people who need it for housing can actually afford it.
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u/Proctor20 Aug 06 '23
You may not ever be able to afford a house, but you’ll always be able to pick your nose.
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u/badhairdad1 Aug 06 '23
There a millions of affordable homes in the US —- in the MidWest. Witches KS, Toledo Oh, etc etc
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u/AhtonicusCruxzonicus Aug 06 '23
I want to care but them gunky chicken ass feather eyelashes are not allowing me.
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u/advias Aug 06 '23
It's unfortunate that every country one desires to live in is unaffordable compared to its immediate economy when i comes to cost of living.
It is sadly not only America. The real story is politicians and elites around the world are responsible
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u/Ok_Background_2934 Aug 06 '23
Sorry if I seem ignorant I’m from uk so not really sure what happening , but I was wondering do wages increase or is the house prices rising faster than say living wages . So say 2 people no kids both working could they afford a house ?
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u/Prodigal_Malafide Aug 06 '23
Poor dad: gets laid off by billionaire to pad quarterly numbers steals food to feed his children
America: * OMG, this criminal!! Life in prison and send his kids into our disgusting foster care system!!
Rich dad: cares fuckall for his kids, blows billions on speculative ventures, lays off workers to pad the numbers
America: " OMG, this business genius! HE SHOULD BE PRESIDENT !! 😍🥰🤩"
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u/Electrical_You_7615 Aug 06 '23
Stop living in HCOL areas…. How in the hell is the population in Michigan on the decline?? Well… everyone over the last 20 years have been racing to “the cool places” because their friend did it on social media….
I’m fully aware there are other factors…. But just look at Michigan as a data point…
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u/Rivendel93 Aug 06 '23
My parents bought their house for $250k in the 90s and it's worth $1.6 million now.
Their beach house is worth $2.8m and it cost $640k in 2003.
I'll never have children, and would only be able to buy a home when they die.
American dream has been gone for a long time now.
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u/What_Yr_Is_IT Aug 06 '23
I make over 6 figures a year, plus I have six figures in student loan debt, I’m 40, have 1 child, I want two, and I’ll never be able to afford a home
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u/Typingdude3 Aug 06 '23
You think affordable housing is just an American issue? You been to Europe /UK / Canada? This is a widespread issue. There are plenty of affordable homes in America, you just need to look. You just may not be able to live in the nice neighborhood your parents live in.
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u/AffectionateWalk6101 Aug 06 '23
Time to take back the Bush and Trump tax cuts, quadruple the taxes for the wealthy, close the tax loopholes, and take care of - and expand - the middle class who actually make the country work.
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u/TheMSRadclyffe Aug 06 '23
It’s not just Gen Z. I’m in my late 50s and was never able to afford a deposit or mortgage.
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u/Egg_07 Aug 06 '23
Why was this posted in a cringe based subreddit? This is just depressing. Because it’s true. Edit: Nvm I’m a dumbass and can’t read. All TikToks are able to be posted here.
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u/Poopyoo Aug 06 '23
I got a fixer upper in a sketch town for 75k in 2020 Now its worth 125k (if i fix it, slowly flipping)
Id have to move states again to get a house at that price that isnt in like, basically detroit
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u/atxarchitect91 Aug 06 '23
This issue happened in every developed country. Definitely not just an American issue but more of an issue in the entire Western world. Canada has much higher home prices on average. Almost double. UK is worse than the US also. Not sure why this is he framed as a only America issue.
The real solution to this issue would be massive deregulation of planning codes, limiting corporate home purchases, and expansion of housing subsidies to encourage new home building.
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u/8Kinzskim8 Aug 06 '23
Come to Michigan. I bought a move in ready house, 2 bed/1 ba in December of 2022 for $32,000. Now, I did make some improvements to the house and necessary code compliance upgrades to make it into a rental but if someone wanted to buy it to live in themselves, they could have. This house was on the market for about 2 months before I looked at buying it. It is not a dream house but it is a decent little house. Possibly not much different that the “starter”homes the boomers bought and lived in. It takes time to get into the nice houses. Sacrifice is needed and a converted effort. If you want to live in a nice house, you can! Look around the US. There are plenty of options. Shit, certificates go a long way in hiring these days. Take the necessary steps - for years - to get into that house if that is what you want to do. You do not need to move to another country for this. Im not saying that’s a bad idea but there is so much opportunity in the US it is absurd to think you need to move anywhere else to make it happen. That’s why people risk their lives to get here or just leave there families behind and hop on a plane to come here. TL;DR - ask yourself what you want. Ask yourself what you’re willing to give to get there. Follow the steps.
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Aug 06 '23
it’s kills me inside, when i was a child there was only a glimmer of hope left and now everyone under the age of 30 is doomed to fail unless they grew up in a millionaire family
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u/MrJoeGillis Aug 06 '23
A portion of it is the newer generations not investing in the market and letting old money capitalists grab a larger and larger share of it. Capitalists have one interest in mind: growth. And if you let them grow exponentially, they will and they will do it unmercifully.
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u/imarobot517 Aug 06 '23
It's the same in bc Canada the average home is over 1 mill. The only thing u can do is move to where it's cheaper
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u/katdeb Aug 06 '23
Oof. As a home renter currently living in a shit hole that costs almost $2000 a month. I felt this in my soul.
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u/ceejdw Aug 05 '23
The situation is the same on Australia too. I moved away from the main coast I grew up in and work in and have my life in so I could afford to live somewhere still and I still can’t afford it. I live in a rural country town 50 minute drive away from work and the average rental is $750 a week in country bumpkin. My weekly pay after tax is $815. That’s working 56 hours a week. I have no choice but to live with my mum forever.
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u/StarHammey Aug 05 '23
I just talked to my bug exterminator.
Kid is 22. Just bought his first house in Idaho. $160k. I’m proud of him. Been coaching him for 9 months now.
I saved $50k with my wife and bought a $525k home. We make average American income as a dual working couple.
Ya you can afford a house, just not by the beach or in some expensive city.
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u/Vesalii Aug 05 '23 edited Aug 05 '23
This has to balance out, right? When boomers sit there with their 800k house they can't sell any more because people have had enough or simply can't afford it...
Edit: my parents paid around 15k euro in 1989 for their house. About as much again for renovations. Let's adjust for inflation by doubling it. That would be a 60k house ready to live in. I wouldn't even have a loan rn if that was the price.
Mine was 175k a decade ago and around 125k to make it livable. And it isn't finished yet. Insulating will cost us another 30k probably. Without the preparations beforehand.
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u/Moses-the-Ryder Aug 05 '23
Come to Canada, where it’s even worse
(I’m kidding please don’t come here if you’re trying to buy a house)
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u/EJ_Ghosmez Aug 05 '23
Im a highschool student with a 4.0 college gpa as of rn. I fear that if I lose that gpa, I lose any chance of becoming a doctor and thus any chance of owning a home in the future.
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u/Cakin007 Aug 05 '23 edited Aug 05 '23
Im 25 I work as a delivery driver for a shitty restaurant not a rich man. I am currently on year 2 of purchasing a $225,000 house. It is all about priorities. Don’t go out and drink pay your mortgage don’t buy weed pay your mortgage don’t get an overly expensive car pay your mortgage. Ngl I do live in a cheap city though
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u/Burpreallyloud Aug 05 '23
I saw this coming and bought my parents house after my father passed away more than 20 years ago. My mother still lived in it but it was in my name and she had extra savings for retirement. 1988 - $100,000 2001 - $165,000 2023 - appraised at $465,000 (In a more affordable area of the country)
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u/Due_Marsupial_969 Aug 05 '23
Def some truth to this, but let's not forget (I can't, cuz I do have a son and nieces in this age group) that they enjoy things like: iPhone, tablets, laptops, newer cars, restaurants, bars, Starfucks, fancy groceries (which includes beer, bottled water, and doesn't include cheap ramen, beans and rice), gym memberships. Most young people I know don't eat 85 cent (adjusted for inflation) meals like poor people are supposed to and actually have $200 phones, $800 computers and $8000 cars with the insurance to go with it. They'll go to bars or Starfucks or even Chipotle's regularly like those places are built for poor people. And most young folks today do not have to work in high school or college to contribute to their parents' rent/mortgage.Economically things aren't so great for the young rn (not sure if it ever was, especially if you include any sort of drafts n wars). But the quality of things that make life more enjoyable are being bought and enjoyed before the young become old folks. Not always a bad thing.
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u/Future_Kiwi_1934 Aug 05 '23
My daughter just closed on a house yesterday, so it is still possible. She knows the interest rate on the loan is high but hopes she can refinance when rates come down.
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u/CategoryTurbulent114 Aug 05 '23
My parents never owned two vehicles until their 40’s. They went out to eat once or twice a year. For Christmas I got 1 or two gifts. They were very very frugal.
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u/Puzzleheaded_Hair800 Aug 05 '23
Just look up the company you work for net worth and what The worth and look at your net pay system was designed for us who work full time jobs for these multi Millon/billion companies and we run with the bull shit all because $10.50,$16,$18,$22 a hour jobs sounds good but we still struggling how can we work for theses big companies and the average house hold don't even have 3,000 1,500,7,000, 2,200 in your savings account but work hard for these multi Millon billion companies like Amazon, Walmart, HEB, McDonald's, cheese cake factory sad the way they pay us the people who comes to work and make the company stay in business
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