@fabsmaster5309
I had this convo with my aunt. She said you should pay off your house in 7 years like Dave Ramsey says. I told her housing had gone up 250% from when she bought her house but incomes had only gone up 100%. She is a lovely lady so she wasn’t trying to argue but she was just speechless and didn’t know what to say.
@certifiedgiggledog
Math doesn't lie. Politicans do.
@USER_S4V4NT
things required for living should be off limits for private corporations, housing, medicare.
@sierraj7480
California here. damn $440,000 for a house? what a deal! almost half off.
@donaldchristopherhauck7
I think it’s a little higher than 30% for a lot of people
@HaveYouSeenThisOneYet
I was born in '56, right in the middle of the boomer years. You are right on target here. We thought we had it rough because home prices in the '80s were out of this world compared to what our parents had. In 1959 my parents bought my childhood home - a three bedroom, two and a half bath rambler, for $21,000. I bought my first house with a 12% interest rate and thought I was getting a wonderful deal but it was because we were used to seeing 15% to 17%. It's all about what people are used to not the absolute level. Nowadays we're used to 3%, so 6% or 7% sounds outrageous, and it is, when it happens all of a sudden. I feel bad for young people because I don't know how they could even consider buying a house even on a decent income.
@mitchelldavis3846
Other scary part of all of this is the % that is now being spent on food compared to then.
@jar145022
My mortgage is about 40% of my primary jobs income. I got a second job I average 70-80 hours a week between the two jobs. Every year my overall mortgage has increased from taxes and insurance to the point that I don’t know how much longer I can do this. I’m exhausted every day and I have to put on a smile for my family every day so they won’t know. My wife know I can’t keep this up forever but does what she can to help. I don’t tell her how tired I am but I can tell she knows. I love her and will do everything I possibly can for her because of this.
@joecontreras8139
Great job brotha keep posting . At some point we will all be Homeless and force this economy to bring back the great American dream.
@williamsandbrink2118
Millenials have had to accept they cant afford to have children. That they literally have to give up a fundamental part of being human....because they take parenting seriously-often unlike boomers.
@mr.niceguy1011
Boomers always say i should a home but i ask them if they could afford their house in todays prices and they say no…..but yet they think i can.
N/A
It's funny how the income is a smooth doubling every 20 years and the pricing just decided tp quadruple instead of double. Well, funny probably isn't the right word, as a person in their 30's...
@Anelisa8520
Totally agree with the general idea. But housing costs depend * a lot * on where you are. A friend of mine bought a house in the early 90s for about $300,000 (small, about 1200 sq ft, but a great location) and everyone thought it was a good deal. Now that house is worth over a million. But this is the San Francisco Bay area. You'd probly have to go back to the 70s to get a house for $76,000!
@pureblood5903
Go ask the gov't and the Fed why a dollar is only worth 9 cents.
@viclavar9298
It's to the point now where young adults will have to stay with their parents like other countries and cultures. It was a nice run America.
@nabimiso
Gen Xer here and I understand both sides of this. My boomer parents didn’t have it easy. They worked really hard and we scraped by when I was a kid. I am close to Millennial age and couldn’t buy my first house until I was 38 and my parents helped sign on it so we could qualify. I don’t blame or shame the boomers, I’m grateful for them. I do blame government regulations, illegal immigration in the millions and especially corporations buying up all the single family homes. Of course individuals working hard can’t compete.
@sheilac3836
Thank you for breaking this down in such an easy way to see the impact of today’s struggle.
@prakdescott8667
My dads mustang in 1967, $1750 brand new 🤯 I asked him if that was a lot of money back then, he said not really, he made it 1 summer mowing lawns 🤯🤯🤯
@JudsonVanDine
Was born at the GenX/Mellinael cross over in the early 80s here and we bought our first home for 149k in 2007, same little bungalow sold last year for 295k. So double in price. We built our last home in 2011 for 300k and sold it 10 years later for 550k. Thankfully mafde enough from that to buy our current home outright. Can't see anyone coming up now having any hope in hell being mortgage free in their 40s short of winning the lottery
@UndeniableRage