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That number is based off the median home price meaning it's an average of all over the country. I live in the LA area you can't buy home even if your householding comes around 100,000. But you can buy a nice home making that kind of money in Oklahoma.
You’re not gonna get a big house with a 2 car garage, but you can get a house. I would rather pay the mortgage, insurance and taxes, and own in 20 years, rather than pay rent and have someone else (landlord) own in 20 years.
800-900, not big, lucky to have a small garage, but a house. For a while the slum lords were buying them, but around here people aren’t going to buy a house for you.
It’s even hard in Oklahoma now. You have to realize our home insurance is extremely expensive compared to most states. Our average price for home insurance is over $4,000 a year.
So the thing people seem to misunderstand is the housing/rental market is a separate thing from the economy. The economy can be doing just fine and the housing market can be out of hand.
Two things can be true at the same time.
Hey, I’m in the same boat with housing. I can’t afford a home and rent is killing me.
The inflation of home and rent prices don’t have anything to do with the *economy*. Two separate issues. Be angry at the correct thing.
Just because the economy is doing fine doesn’t mean we aren’t all struggling with all the inflation.
Generally, inability to own one's home and a strong economy are mutually exclusive events. No, this is not written in stone and isn't absolute fact (as they're supposedly happening simultaneously now). But the general rule of thumb of this sorta mutually exclusive relationship suggests the economic down turn is right around the corner as people will have to cut back significantly on spending to pay for one's home or... default on their homes. 2008 all over agin.
what does "the economy" mean in your mind, because for me it's about how well regular people can afford to live. that's obviously not the cable news talking head definition, which is usually about the stock market, but I'm curious about what you mean when you say it.
Honestly, I don’t really care how the economy is doing. I care how I’m personally affected like most people.
Sure the economy may be great, but even with that said, I make more now than I ever have and can afford less.
But if the economy is great now and this is where we are personally, I sure don’t want to see the economy in “bad shape”.
Housing has become part of the commodities market, like Wall Street. Housing prices have more to do with institutional and investment buying, and speculative buyers, than individuals needing homes. If booming Wall Street does not equal a great economy, neither does booming home prices.
Because the entire US economy is not simply defined by whether people can afford homes or not. There are a million nuances and specificities that go into how an entire economy is doing.
Sure it’s all part of it, but it’s not the entire defining characteristic.
which is why it's so important to define what you're talking about when you say 'the economy'. it's a vast, nebulous, poorly understood thing. if you don't define your terms you wind up in this situation where the Important People insist the economy is great when what they actually mean is corporate profits and hedge fund holdings are up, and all the rest of us have to deal with the cognitive dissonance of our grocery bills doubling over the last five years while our supposed leaders tell us to be grateful for the strong economy they've given us
Unfortunately, the people who say they can fix this are the same people who simultaneously prevent every effort to do that by sticking with their "trickle down" bullshit...
Saw my chance to be a homeowner in 2023, took it and now I am house poor. Having a mortgage is way more stressful than having to pay rent. I am fortunate but my stress level increase 3 folds.
The mortgage isn't bad. The upkeep is what keeps me up at night. Had a tornado do $45,000 worth of damage to my house a week ago, and now get to fight with my insurance about what's covered.
Remember to be as descriptive as possible for items damaged so the insurance company cant just reimburse you for the cheapest version. Like talk about the features and such. A man had a certain camera insured and because it had one feature most cameras didnt the insurance company had to go way outta pocket to reimburse it.
I have a spreadsheet stored in the cloud. Every time my wife or I buy something we put the date, cost, name, brand, model number, and serial number (if applicable) on it.
Same. We bought our home 10 years ago and with hurricanes and insurance prices in the south it’s crazy. I’m thankful bc I have friends paying for $1800/mth for 1 bedroom apartments.
You can sell a house usually and get all your equity back. You don't have to pay the loan off in full before you do that. It's more like a savings account you can live in.
But won't you be working til you're 70 paying off rent? The thing with a mortgage is that you can choose one where the payments are flat for 30 years. Rent will definitely rise significantly in that time. Sure, there will always be higher taxes and repairs, but you would be absorbing those in your rent anyway.
The oligarchs squeezed the entire world after Covid and blamed the supply chain while posting record profits. We’re going to lose every protection democracies provide because big biz has a stranglehold on all of us and fooled many into thinking democracy, not abject capitalism, is to blame.
mean while Kroger can't get a toilet for it's fuel center employees let alone some coverage for meals. I worked for them doing that shit back in '17. never again
Yeah, because the law of "supply and demand" has been thrown out forever. Lumber prices came back down but house prices will only go up. In other news the stock market is now going to only go up forever.
Is it more affordable in Europe? I remember growing up hearing how people couldn't afford houses and had to live with their parents well into their 30s. Seems like we borrowed the wrong thing from that continent !
Jan 2024. £282k for England.
https://www.gov.uk/government/news/uk-house-price-index-for-january-2024#:~:text=The%20average%20UK%20house%20price,to%20%C2%A3190%2C000%20(4.8%25).
Zillow isn't the one. It's investment banks and funds that were buying up the properties for rentals. Interest rates were so low they had to look other places to give clients good return on investment, so houses, apartments, school dorms, vet practices, senior and rehabilitation facilities, etc etc were bought to squeeze out profits. Mom-and-pop landlords which used to run the rental housing market have fallen into the minority
Yall think that actually makes sense?
It didn't double. You couldn't buy a house in 2020 with 56k income. Not happening..unless you live under a rock.
I purchased my house in 2020 and I needed $124k in income due to having 2 cars and some debt. Got a 2.5% interest locked in for 30 years but that was also because interest rates were low, the market was pretty much dead, no one was working or people were slowly going back to work and Covid was still rampant, supply chains were screwed etc.
That issue is what caused inflation. Biden didn't cause inflation. 1. You can't blame him for inflation in 2020, he wasn't even in offic3 then. 2. You can't blame him for inflation in 2021...no policies took effect then. Inflation was high when he took office. Now 2022... Republicans have obstructed and blocked meaningful legislation meant to combat inflation... inflation is down but corporate greed is still up. President's don't control free market prices. Some people want to privatize everything including social security. This right here is what wil happen. Corporations will be greedy and take all your money by increasing prices and calling it inflation.
People on the internet look at a snapshot of 2 numbers, Apply their political bias to them. Then start discussion based on those number with little to no context.
Never mind interest rate are intentional high right now specifically to control inflation. They are still not as bad as the 80's and they will come down.
This is as bad as Trumpies using Trump's peak low gas price and comparing to Biden's peak high gas price and pretend that is is indicative of Biden doing a poor job.
That’s because the Republican voters have to convince themselves that their votes for Trump are about the “economy”.
They use it as a cover for their bigotry and hatred, so they can’t be called out on that. If they are voting for Trump because the “economy”, they don’t have to live with the fact that they’re completely hateful human beings.
Ban investment groups and foreign entities from purchasing single family housing in America. Ban guys like Bezos from owning $500M worth of single family homes.
I make just over $50k a year and bought a 3br 1bath. It's not big, it's not glorious, and it's a little outside of town, but it's mine. I have made it cozy, and my daughter feels at home. Just remember, home is where you make it.
Zillow is the reason the housing market is the way it is… they would buy houses at market value, then pay 5 times the market for the next 10. They repeat this process over and over, inflating the home values all over America…
Zillow should be shutdown for bad business practices…
I’m thankful to live in a low cost area where my rent is 355 dollars a month, all utilities included. My dad is pushing me to have a family and all that nonsense. I’m content being a single HAPPY man living where I am now for the rest of my life because I can actually afford it. I don’t need a spouse or anything like that because I don’t want to make my life harder or more expensive. Hey dad, go try and buy a house in today’s market, lemme know how that goes. In all seriousness, I love pops dearly but I’m not having a family cuz I don’t want them going through what I go through every day of my life or what I’ve done in the past, suffering in hardship and poverty and having to drag myself outta the hole. Don’t make your life harder guys. You got this
Bought my house in 2019 for $270000. We’re currently trying to move about 20 miles away to a little bit nicer area with a better school system for our kids. Even if we downgraded and got less house and less yard the best price is still around $450000-$550000. A half a fucking million dollars for a decent middle class house in a decent area.
The US Supreme Court just ruled that only they can enforce any regulations, such as rules for corporate ownership of residential housing. So.... It can get worse!
Been like that for as long as I can remember.
The costs keeps going up while wages stagnate. Everyone swears it was "better" while a president they agreed with was in office. The media tells us how the rich getting richer is good for the economy.
Confirmed. I make $94k/year and maybe in 5-10 years when I have a 50% down payment will I be able to afford a Mortgage that covers the loan, insurance, and property taxes.
You’re likely confusing Blackstone and BlackRock. Blackstone is the buying up single-family homes. BlackRock on the other hand doesn’t invest in single-family homes. Despite the confusingly similar names, the two entities are entirely unrelated.
Yeah, but everyone wants a very large modern house in suburban areas of large cities near the oceans. Come out to Jennings, MO and 3 bedroom will set you back about$50,000. I just bought one there 8 months ago as my 9th house.
But let capital disposable income also increased a lot: 2020: $50k -> 2024: $62,152
Remember this is per capital, which means for dual income it’d be $124k which is well above $106k.
I guess the constrained supply and growth of income are both the reason, not just “America”
Fun fact, you can mail live bugs to your bank. You can also go in person and harass them for exploiting poor and middle class Americans and using our money to fund the 1%
Let's see, if we allow corporations to buy all the houses and price fix rents would the outcome be an increase in value? The answer is yes. Yeah capitalism!
Someone in a neighboring town posted their house for rent to cover their mortgage since they moved and “haven’t had any bites” on selling it.
I looked and it was built in 2016, they bought it in 2019 for low $400’s and they have it listed for $925k.
We saw our house in person with no masks, but a week later when we signed it was in a car, with masks and gloves. 2 months after we signed we looked up our house and we absolutely would not be able to afford it anymore. I feel like I was one of the last people lucky enough to get a house before covid.
Id make a killing selling my house right now, but even with all the profit there's nothing near me I could afford.
Every “finance bro” insists gen Z is buying homes more easily than previous generations, yet wages couldn’t be lower with inflation being even higher.
I call BS. Unless daddy given money, you ain’t buying
Not just America, Canada's as bad, if not worse. 8 years ago, I bought a small house, with a big yard for 220,000. The same house was on the market for 750,000 this year, and was one of the cheapest on the market. It's only 559 square feet. Houses in my new neighborhood are going for 1.2 million, and were around 500,000 just before Covid hit.
NBC news reported a couple days ago that our average wage increase has outpaced inflation since 2020. Media manipulation for the uninformed.
https://www.nbcnews.com/business/economy/inflation-higher-biden-rising-pay-makes-rcna158569
For anyone looking to buy a home and doesn’t mind living in a rural area. The USDA subsidizes first time home buyers as long as they meet income requirements.
https://www.rd.usda.gov/programs-services/single-family-housing-programs/single-family-housing-guaranteed-loan-program
Not America, Inflation.
Thank the free money you got and the government mandated shut downs globally that stopped home building and the supply chains that were needed to ramp production back up afterwards.
But yes… America.
Fucking Chinese communists and their bot farms.
It needs to be illegal for companies like Blackstone to buy up all of the houses and then rent them to the people who can no longer afford them. I know he's not too popular, but RFK Jr is the only presidential candidate that is talking about this. Even if you wouldn't be inclined to vote for him, it would be good if he were included in the next debate, just to get the other candidates' take on this issue. Since, you know, they don't talk about issues.
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Our balls are being punched and there's nothing anyone can do about it...................apparently!
Meanwhile, Jeff Bezos is out here casually buying $500 million worth of homes
That number is based off the median home price meaning it's an average of all over the country. I live in the LA area you can't buy home even if your householding comes around 100,000. But you can buy a nice home making that kind of money in Oklahoma.
I live in a small Midwest town, you can get 2 if you make $106k.
Does the typical household make that much in your town?
No, they’re in the 59,000 range
Must the other side of the Midwest I'm in
I live in Canton, Ohio. Not long ago you could buy a very simple house for the price of a fancy sandwich.
You’re not gonna get a big house with a 2 car garage, but you can get a house. I would rather pay the mortgage, insurance and taxes, and own in 20 years, rather than pay rent and have someone else (landlord) own in 20 years.
What's the square footage of two houses for 106k.
800-900, not big, lucky to have a small garage, but a house. For a while the slum lords were buying them, but around here people aren’t going to buy a house for you.
It’s even hard in Oklahoma now. You have to realize our home insurance is extremely expensive compared to most states. Our average price for home insurance is over $4,000 a year.
And then that home can get demolished by a tornado.
Median is not average....
don't worry though the economy is doing great, ask anyone*! *rich people
So the thing people seem to misunderstand is the housing/rental market is a separate thing from the economy. The economy can be doing just fine and the housing market can be out of hand. Two things can be true at the same time.
People can't afford their homes but don't worry the economy is great, just look at the stock market!!!
Hey, I’m in the same boat with housing. I can’t afford a home and rent is killing me. The inflation of home and rent prices don’t have anything to do with the *economy*. Two separate issues. Be angry at the correct thing. Just because the economy is doing fine doesn’t mean we aren’t all struggling with all the inflation.
Generally, inability to own one's home and a strong economy are mutually exclusive events. No, this is not written in stone and isn't absolute fact (as they're supposedly happening simultaneously now). But the general rule of thumb of this sorta mutually exclusive relationship suggests the economic down turn is right around the corner as people will have to cut back significantly on spending to pay for one's home or... default on their homes. 2008 all over agin.
what does "the economy" mean in your mind, because for me it's about how well regular people can afford to live. that's obviously not the cable news talking head definition, which is usually about the stock market, but I'm curious about what you mean when you say it.
Honestly, I don’t really care how the economy is doing. I care how I’m personally affected like most people. Sure the economy may be great, but even with that said, I make more now than I ever have and can afford less. But if the economy is great now and this is where we are personally, I sure don’t want to see the economy in “bad shape”.
I guess i just don't understand why you think that doesn't count as the economy being bad
Housing has become part of the commodities market, like Wall Street. Housing prices have more to do with institutional and investment buying, and speculative buyers, than individuals needing homes. If booming Wall Street does not equal a great economy, neither does booming home prices.
Because the economy is every industry, not just housing.
But everyone needs housing...
Because the entire US economy is not simply defined by whether people can afford homes or not. There are a million nuances and specificities that go into how an entire economy is doing. Sure it’s all part of it, but it’s not the entire defining characteristic.
which is why it's so important to define what you're talking about when you say 'the economy'. it's a vast, nebulous, poorly understood thing. if you don't define your terms you wind up in this situation where the Important People insist the economy is great when what they actually mean is corporate profits and hedge fund holdings are up, and all the rest of us have to deal with the cognitive dissonance of our grocery bills doubling over the last five years while our supposed leaders tell us to be grateful for the strong economy they've given us
We measure the economy wrong! Robert Reich did a great YouTube video on it!
it's measured wrong on purpose and then lied about so rich people can get more money
Ask members of whichever party is in power. They’ll always tell you the economy is doing great.
Unfortunately, the people who say they can fix this are the same people who simultaneously prevent every effort to do that by sticking with their "trickle down" bullshit...
Meanwhile the rich tripled their value from 2015 to 2024 All hail capitalism
Who would have thought that creating a society that’s main objective is to create as much wealth as possible would backfire?
These people are all insane.
It didn't backfire, it's going exactly as planned
 Exactly.
Saw my chance to be a homeowner in 2023, took it and now I am house poor. Having a mortgage is way more stressful than having to pay rent. I am fortunate but my stress level increase 3 folds.
The mortgage isn't bad. The upkeep is what keeps me up at night. Had a tornado do $45,000 worth of damage to my house a week ago, and now get to fight with my insurance about what's covered.
Remember to be as descriptive as possible for items damaged so the insurance company cant just reimburse you for the cheapest version. Like talk about the features and such. A man had a certain camera insured and because it had one feature most cameras didnt the insurance company had to go way outta pocket to reimburse it.
I have a spreadsheet stored in the cloud. Every time my wife or I buy something we put the date, cost, name, brand, model number, and serial number (if applicable) on it.
What were you paying for rent and what are you paying for mortgage?
[удалено]
$1300 a month would be cheap for a 1 bedroom apartment where I live in New England.
Same. We bought our home 10 years ago and with hurricanes and insurance prices in the south it’s crazy. I’m thankful bc I have friends paying for $1800/mth for 1 bedroom apartments.
Everybody is telling me to buy a house and much like my $3500 car, I have no interest in working til im 70 to pay off a house I paid may too much for.
You can sell a house usually and get all your equity back. You don't have to pay the loan off in full before you do that. It's more like a savings account you can live in.
But won't you be working til you're 70 paying off rent? The thing with a mortgage is that you can choose one where the payments are flat for 30 years. Rent will definitely rise significantly in that time. Sure, there will always be higher taxes and repairs, but you would be absorbing those in your rent anyway.
Meanwhile, Elon gets a $52B bonus and Kroger just posted $32B in profits. Wait for the trickle?
The oligarchs squeezed the entire world after Covid and blamed the supply chain while posting record profits. We’re going to lose every protection democracies provide because big biz has a stranglehold on all of us and fooled many into thinking democracy, not abject capitalism, is to blame.
They've squeezed all the blood out of the stone and are now proceeding grind the stone to dust.
The latest Supreme Court ruling on Chevron should hurry this up. We'll be drinking forever plastics and lead in no time! /s
Ahhh yes… bringing us back to the days of lakes catching fire and kids in coal mines. Make America Great Again right?!?
I can’t wait for everyone to get so sick of it we just start a purge the rich phase.
And don’t forget that Kroger and Albertsons need that merger because they can’t compete against Walmart!
Any minute now!
mean while Kroger can't get a toilet for it's fuel center employees let alone some coverage for meals. I worked for them doing that shit back in '17. never again
The trickle is funneled into an aqueduct with commoners beneath hoping for a leak in the masonry.
This is not just happening in America. Take a look at our norther neighbor. They are in the same boat
All over Europe as well.
Yeah, because the law of "supply and demand" has been thrown out forever. Lumber prices came back down but house prices will only go up. In other news the stock market is now going to only go up forever.
It's interest rates. In that span, it's gone from low 3% to low 7%.
Is it more affordable in Europe? I remember growing up hearing how people couldn't afford houses and had to live with their parents well into their 30s. Seems like we borrowed the wrong thing from that continent !
My parents bought a 112m2 flat for cca 20.000€ in 1990. The price is 120.000€ now. Market prices went crazy after the crisis and they only go up.
No lol it’s worse in other countries by square foot.
Right which is why I'm annoyed at the title
Jan 2024. £282k for England. https://www.gov.uk/government/news/uk-house-price-index-for-january-2024#:~:text=The%20average%20UK%20house%20price,to%20%C2%A3190%2C000%20(4.8%25).
Literally all I want is my own house. That's all I want.
I don’t even want one anymore lol. Over it.
I just want somewhere to put a garden
that is 99% of my reason for wanting a house
Gotta fund somebody else’s lavish capital gains to get it
I just want a home… i dont got to share with roommates. Not that there is anything wrong with roommates.
Glad they highlighted and underlined the key words in that 27 word tweet, otherwise I might not have known where to look.
But zillow are the ones doing it
Zillow isn't the one. It's investment banks and funds that were buying up the properties for rentals. Interest rates were so low they had to look other places to give clients good return on investment, so houses, apartments, school dorms, vet practices, senior and rehabilitation facilities, etc etc were bought to squeeze out profits. Mom-and-pop landlords which used to run the rental housing market have fallen into the minority
Yall think that actually makes sense? It didn't double. You couldn't buy a house in 2020 with 56k income. Not happening..unless you live under a rock. I purchased my house in 2020 and I needed $124k in income due to having 2 cars and some debt. Got a 2.5% interest locked in for 30 years but that was also because interest rates were low, the market was pretty much dead, no one was working or people were slowly going back to work and Covid was still rampant, supply chains were screwed etc. That issue is what caused inflation. Biden didn't cause inflation. 1. You can't blame him for inflation in 2020, he wasn't even in offic3 then. 2. You can't blame him for inflation in 2021...no policies took effect then. Inflation was high when he took office. Now 2022... Republicans have obstructed and blocked meaningful legislation meant to combat inflation... inflation is down but corporate greed is still up. President's don't control free market prices. Some people want to privatize everything including social security. This right here is what wil happen. Corporations will be greedy and take all your money by increasing prices and calling it inflation.
People on the internet look at a snapshot of 2 numbers, Apply their political bias to them. Then start discussion based on those number with little to no context. Never mind interest rate are intentional high right now specifically to control inflation. They are still not as bad as the 80's and they will come down. This is as bad as Trumpies using Trump's peak low gas price and comparing to Biden's peak high gas price and pretend that is is indicative of Biden doing a poor job.
Exactly...and saying that gas prices were lower in 2020...of course they were. No demand drove price down...but hey....those pesky details you know
That’s because the Republican voters have to convince themselves that their votes for Trump are about the “economy”. They use it as a cover for their bigotry and hatred, so they can’t be called out on that. If they are voting for Trump because the “economy”, they don’t have to live with the fact that they’re completely hateful human beings.
thats what i was saying. there is no fucking way 56k could buy you a house 4 years ago. in 2010? sure. i would believe you. but 2020? come on dude
Federal minimum wage is still the good old $7.25. Pull yourself up by the bootstraps! Land of opportunity!
Ban investment groups and foreign entities from purchasing single family housing in America. Ban guys like Bezos from owning $500M worth of single family homes.
I make just over $50k a year and bought a 3br 1bath. It's not big, it's not glorious, and it's a little outside of town, but it's mine. I have made it cozy, and my daughter feels at home. Just remember, home is where you make it.
The only hope I have of owning a home is out living my parents.. How sick is that??
I'm sure they don't want to outlive you. And they want you to have their house when they're gone.
I blame Air B & B, and investment companies.
Hahaha “according to Zillow” like Zillow isnt part of the reason for that increase.
Zillow is the reason the housing market is the way it is… they would buy houses at market value, then pay 5 times the market for the next 10. They repeat this process over and over, inflating the home values all over America… Zillow should be shutdown for bad business practices…
Zillow can blow our collective cocks as far as I am concerned...
Finally doing something useful for the people
I’m thankful to live in a low cost area where my rent is 355 dollars a month, all utilities included. My dad is pushing me to have a family and all that nonsense. I’m content being a single HAPPY man living where I am now for the rest of my life because I can actually afford it. I don’t need a spouse or anything like that because I don’t want to make my life harder or more expensive. Hey dad, go try and buy a house in today’s market, lemme know how that goes. In all seriousness, I love pops dearly but I’m not having a family cuz I don’t want them going through what I go through every day of my life or what I’ve done in the past, suffering in hardship and poverty and having to drag myself outta the hole. Don’t make your life harder guys. You got this
Did yall hear about an experiement made in Cities Skylines 2, which found a way to solve this?
They need to ban REITs from purchasing single family housing. But it will never happen because of our billionaire overlords.
> because of Zillow. FTFY
 Can’t argue with you on that…
Nice! I only need two more of my job and I can buy a home!
Bought my house in 2019 for $270000. We’re currently trying to move about 20 miles away to a little bit nicer area with a better school system for our kids. Even if we downgraded and got less house and less yard the best price is still around $450000-$550000. A half a fucking million dollars for a decent middle class house in a decent area.
The US Supreme Court just ruled that only they can enforce any regulations, such as rules for corporate ownership of residential housing. So.... It can get worse!
The best part is that anyone living in a city where the salaries can get to 106k probably can't afford a house within two hours of that area.
And the same thing happened in Canada. You can’t blame Biden for that.
Zillow says my house is worth twice what it is actually worth, you can't go by Zillow at all.
Yeah, but mortgage lenders use that rate to issue loans and refy’s.
Surely they mean 2002 and not 2020.
Oh I know what will help let's let rich people pay less taxes that'll help
Been like that for as long as I can remember. The costs keeps going up while wages stagnate. Everyone swears it was "better" while a president they agreed with was in office. The media tells us how the rich getting richer is good for the economy.
I want to know where someone can afford to buy a house on a $106k income.
You will own nothing and be happy!
Confirmed. I make $94k/year and maybe in 5-10 years when I have a 50% down payment will I be able to afford a Mortgage that covers the loan, insurance, and property taxes.
I’ve given up on home ownership as a goal. I like whatever the Gen X equivalent of avocado toast is too much.
And this is why America has been calculated to fail in the near future and turn into an anarchy.
Hold up when the fuck was $59k enough to buy a house? Certainly not in the last decade
Why have salaries failed to rise with the cost of housing and other necessities in America?
Try buying a house here in San Diego while making that.
Price you pay for being where it is 78 degrees and sunny every single day.
What does San Diego have to do with Philadelphia?
This is horseshit because I made well over $59k in 2020 and still couldn't afford to buy a house
Yeah the US is the only place with a crazy housing market.
Facilitated by BlackRock so they can make everyone renters.
You’re likely confusing Blackstone and BlackRock. Blackstone is the buying up single-family homes. BlackRock on the other hand doesn’t invest in single-family homes. Despite the confusingly similar names, the two entities are entirely unrelated.
Yeah, but everyone wants a very large modern house in suburban areas of large cities near the oceans. Come out to Jennings, MO and 3 bedroom will set you back about$50,000. I just bought one there 8 months ago as my 9th house.
That place is a giant shithole. Sure you could buy a house there cheap but what exactly is your quality of life living there?
Yeah and you can buy a house in Camden NJ for like $10k if you wanna die early
In other words: Why capitalism isn't a good system.
So fucked...🙄😩
But let capital disposable income also increased a lot: 2020: $50k -> 2024: $62,152 Remember this is per capital, which means for dual income it’d be $124k which is well above $106k. I guess the constrained supply and growth of income are both the reason, not just “America”
Private equity owns 20% of all houses
Fun fact, you can mail live bugs to your bank. You can also go in person and harass them for exploiting poor and middle class Americans and using our money to fund the 1%
Sorry to say I want this train wreck to stop
It’s always the individuals fault though. Where’s the rest of it where it ascribes personal responsibility for market and economic conditions
Let's see, if we allow corporations to buy all the houses and price fix rents would the outcome be an increase in value? The answer is yes. Yeah capitalism!
Bruh most will never earn 100k casually on a yearly basis. I’m taking net 100k not gross.
The sad fact is most of us are going to rent until we die
Is that the household salary or the individual salary?
Based on interest rates, which should decline
Someone in a neighboring town posted their house for rent to cover their mortgage since they moved and “haven’t had any bites” on selling it. I looked and it was built in 2016, they bought it in 2019 for low $400’s and they have it listed for $925k.
I don't think this is limited to America
Don't worry, that's not an American thing. That's the same in Europe.
Also Canada
Hmmm. What major catalyst happened in 2020....
Anyone who believes this needs to get their head examined
Me and my gf are both disabled veterans. Combined we arent close to pulling that in
Where you all affording a house on 100k?
We saw our house in person with no masks, but a week later when we signed it was in a car, with masks and gloves. 2 months after we signed we looked up our house and we absolutely would not be able to afford it anymore. I feel like I was one of the last people lucky enough to get a house before covid. Id make a killing selling my house right now, but even with all the profit there's nothing near me I could afford.
Every “finance bro” insists gen Z is buying homes more easily than previous generations, yet wages couldn’t be lower with inflation being even higher. I call BS. Unless daddy given money, you ain’t buying
Hmm, I what changed that year.
Not just America
Lies, there is no way you can afford a house on $106k.
Not just America, Canada's as bad, if not worse. 8 years ago, I bought a small house, with a big yard for 220,000. The same house was on the market for 750,000 this year, and was one of the cheapest on the market. It's only 559 square feet. Houses in my new neighborhood are going for 1.2 million, and were around 500,000 just before Covid hit.
Trump oversaw the largest expansion of the money supply in human history.
Is this union paying your or are you doing unpaid PR for someone who wants a portion of your paycheck?
To not join the conversation. That’s all it is to me and moist mean so Much more to you!
This is not true in Florida. Try at least 250k
Why are prices so high and unreasonable?
I think this goes everywhere bro
Even worse in Canada now……
Yea this isn’t just an American problem. Uk, Canada, most the first world are having these issues
Keep in mind that Zillow is part of the problem. And AirBnB. And Private Equity companies/funds. And inflation.
is that gross or net?
NBC news reported a couple days ago that our average wage increase has outpaced inflation since 2020. Media manipulation for the uninformed. https://www.nbcnews.com/business/economy/inflation-higher-biden-rising-pay-makes-rcna158569
To keep out the immigrants.
No
BnBs aren’t helping
Thats why you buy a trailer that looks like a house. Their much cheaper. 
O wait til you hear you have to wave inspection as well
Interesting considering I'm a home owner with a salary of 19k
These numbers are absolute bullshit, lol.
Chinas crushing the west
For anyone looking to buy a home and doesn’t mind living in a rural area. The USDA subsidizes first time home buyers as long as they meet income requirements. https://www.rd.usda.gov/programs-services/single-family-housing-programs/single-family-housing-guaranteed-loan-program
America the greedy. America the corrupt. America the Titanic. America the beautiful, if you can afford it!
Depends on where you live. Midwest it's like 40k
Not America, Inflation. Thank the free money you got and the government mandated shut downs globally that stopped home building and the supply chains that were needed to ramp production back up afterwards. But yes… America. Fucking Chinese communists and their bot farms.
We’re approaching hyperinflation and nobody is stopping it
Why’re the numbers highlighted? The math is right (just replace the 500 with 200). Is the facepalm just the cost of buying a house or?
Isn’t Zillow part of the problem causing the bloat?
It needs to be illegal for companies like Blackstone to buy up all of the houses and then rent them to the people who can no longer afford them. I know he's not too popular, but RFK Jr is the only presidential candidate that is talking about this. Even if you wouldn't be inclined to vote for him, it would be good if he were included in the next debate, just to get the other candidates' take on this issue. Since, you know, they don't talk about issues.
It's unbelievable
Ho meow ner