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Housing needs and the cost.

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Milk-Drops

Milk-Drops

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Below is a video of a Mother explaining that even with her Son having a college degree and getting a job in that field 2 weeks after graduating, the son still can't afford to live in their own state on their own.

https://www.tiktok.com/video/7260633212903312686

She appeared on Fox News and as soon as she explains that her son has a good job the hosts end the segment.

www.foxnews.com

Alabama mom goes viral with concerns about her kids' futures: 'Not the same as it was'

Jessica McCabe, an Alabama mother of two, shared her frustrations with the shrinking opportunity to achieve the American Dream on "Fox & Friends" Tuesday.
www.foxnews.com www.foxnews.com

It is getting ridiculous. Housing is a huge bubble right now with costs going through the roof. College is way too expensive. Insurance doesn't even scratch medical needs. Food is going up. Companies are complaining they can't get anyone to work, yet still don't pay enough for people to afford to rent or buy homes in the areas they work.

Its getting bad. Republicans only care about the culture war and whenever a democrat tries to tackle these issues they get called communist.

The issue is that we as a people have allowed ourselves to be taken advantage of by people claiming that dergulating would make us all richer, when in reality its just making the rich richer and destroying the middle class to a point where Millenials and younger are barely able to function in our society with all the gouging and money schemes.
 
Milk-Drops said:
Below is a video of a Mother explaining that even with her Son having a college degree and getting a job in that field 2 weeks after graduating, the son still can't afford to live in their own state on their own.

https://www.tiktok.com/video/7260633212903312686

She appeared on Fox News and as soon as she explains that her son has a good job the hosts end the segment.

www.foxnews.com

Alabama mom goes viral with concerns about her kids' futures: 'Not the same as it was'

Jessica McCabe, an Alabama mother of two, shared her frustrations with the shrinking opportunity to achieve the American Dream on "Fox & Friends" Tuesday.
www.foxnews.com www.foxnews.com

It is getting ridiculous. Housing is a huge bubble right now with costs going through the roof. College is way too expensive. Insurance doesn't even scratch medical needs. Food is going up. Companies are complaining they can't get anyone to work, yet still don't pay enough for people to afford to rent or buy homes in the areas they work.

Its getting bad. Republicans only care about the culture war and whenever a democrat tries to tackle these issues they get called communist.

The issue is that we as a people have allowed ourselves to be taken advantage of by people claiming that dergulating would make us all richer, when in reality its just making the rich richer and destroying the middle class to a point where Millenials and younger are barely able to function in our society with all the gouging and money schemes.
Click to expand...
And inflation from printing dollars doesn't play into this?

Would you expect to work for less for others so that they can own it rent ?

Ad valorem is so high in my brother's area that his house not much bigger then mine costs him six months of my mortgage .

Building more housing doesn't guarantee cheaper housing costs . They must recover what they paid and also make money .
 
Using this website the calculations that from 2020 Q4 to 2023 Q2 average housing cost increased from $374,000 to $495,100. That is a 75.6% increase in the average housing cost in 3 years. Even if we Take into consideration that Congress raised the interest of loans, that is insane. 2022 Q4 had an average housing cost of $552,600. Even with the decrease, its still insane how much housing has risen.
 
Milk-Drops said:
Using this website the calculations that from 2020 Q4 to 2023 Q2 average housing cost increased from $374,000 to $495,100. That is a 75.6% increase in the average housing cost in 3 years. Even if we Take into consideration that Congress raised the interest of loans, that is insane. 2022 Q4 had an average housing cost of $552,600. Even with the decrease, its still insane how much housing has risen.
Click to expand...
fred.stlouisfed.org

Average Sales Price of Houses Sold for the United States

Graph and download economic data for Average Sales Price of Houses Sold for the United States (ASPUS) from Q1 1963 to Q4 2023 about sales, housing, and USA.
fred.stlouisfed.org

The website I used for reference.
 
jasonc said:
And inflation from printing dollars doesn't play into this?

Would you expect to work for less for others so that they can own it rent ?

Ad valorem is so high in my brother's area that his house not much bigger then mine costs him six months of my mortgage .

Building more housing doesn't guarantee cheaper housing costs . They must recover what they paid and also make money .
Click to expand...
I get what you are saying Jason, but it doesn't track at all.

Inflation was 7% in 2021
its currently at 3.2% as of July 2023

Rent has risen on average 8.2% yearly since 1980.

Wages have not kept up. The average wage in 2020 was $55,628.6 in 2022 the average wage was $54,132. Wages went down wile prices for everything else increased.

Sources for the above.

Inflation: https://www.usinflationcalculator.com/inflation/current-inflation-rates/

Rent: https://ipropertymanagement.com/research/average-rent-by-year

Wages up to 2021: https://www.ssa.gov/oact/cola/awidevelop.html

Wages 2022: https://www.firstrepublic.com/insights-education/how-much-does-the-average-american-make
 
jasonc said:
My daughter couldn't do what she did to get utilities in many other states.she installed her own water line from the meter
Click to expand...
I had to install my own internet line or pay 100 Dollars fur someone to bury the line and I already dug the trench for them.

I'm currently having to pay a sewer lean for my Mom's property where she doesn't have access to the sewer and we don't receive city water. We are rural and have septic systems.

By the time I get done, its 5,000 for 2 years just for her property.
 
Milk-Drops said:
I get what you are saying Jason, but it doesn't track at all.

Inflation was 7% in 2021
its currently at 3.2% as of July 2023

Rent has risen on average 8.2% yearly since 1980.

Wages have not kept up. The average wage in 2020 was $55,628.6 in 2022 the average wage was $54,132. Wages went down wile prices for everything else increased.

Sources for the above.

Inflation: https://www.usinflationcalculator.com/inflation/current-inflation-rates/

Rent: https://ipropertymanagement.com/research/average-rent-by-year

Wages up to 2021: https://www.ssa.gov/oact/cola/awidevelop.html

Wages 2022: https://www.firstrepublic.com/insights-education/how-much-does-the-average-american-make
Click to expand...
I'm not saying it is alone,it was getting high before that . It got worse under Biden .I bought my house under w. I thought it was bad .

I also say code here has some of it .I remember 1980.and no I can say that my mother and father .mom was union and retired as such had to work two jobs . Granted in part they are bad with money.

Rent was cheaper then .but wages were then too .
 
jasonc said:
I'm not saying it is alone,it was getting high before that . It got worse under Biden .I bought my house under w. I thought it was bad .

I also say code here has some of it .I remember 1980.and no I can say that my mother and father .mom was union and retired as such had to work two jobs . Granted in part they are bad with money.

Rent was cheaper then .but wages were then too .
Click to expand...
Wages were definitely cheaper, but buying power and wage increase has not kept up.
Average wage in 1980 was $12,513.46, at the end of 2022 it was roughly $54,132. So we have a 433% increase in wage.

However the the average housing cost in 1980 was $80,000 while the current housing is $495,100. that is roughly 619% increase in housing costs.

Sources for that can also be found here.
fred.stlouisfed.org

Average Sales Price of Houses Sold for the United States

Graph and download economic data for Average Sales Price of Houses Sold for the United States (ASPUS) from Q1 1963 to Q4 2023 about sales, housing, and USA.
fred.stlouisfed.org

To be at the same scale and buying power with someone in 1980 the average wage should be $77,442. That is almost a 70% loss in US buying power since 1980
 
In short the average household income in the US should be around $37.23 Hourly if we are expecting people to buy homes. Currently the average wage is $26.25. That is unsustainable and we are headed for a housing crash.
 
Milk-Drops said:
Wages were definitely cheaper, but buying power and wage increase has not kept up.
Average wage in 1980 was $12,513.46, at the end of 2022 it was roughly $54,132. So we have a 433% increase in wage.

However the the average housing cost in 1980 was $80,000 while the current housing is $495,100. that is roughly 619% increase in housing costs.

Sources for that can also be found here.
fred.stlouisfed.org

Average Sales Price of Houses Sold for the United States

Graph and download economic data for Average Sales Price of Houses Sold for the United States (ASPUS) from Q1 1963 to Q4 2023 about sales, housing, and USA.
fred.stlouisfed.org

To be at the same scale and buying power with someone in 1980 the average wage should be $77,442. That is almost a 70% loss in US buying power since 1980
Click to expand...
Inflation .

Seriously .when hurricane Andrew hit my state they changed code and the price of wood which is related to it went double overnight

.you can't build a simply wood frame house hear without straps ,and bolts and so forth .I get why but it's driving up prices .

I couldn't afford my own house on what I made at one job.so I worked three including the guard . I'm not saying that it is good just that it has been that way for 16 years
 
Of course its going to vary depending on where you live. I don't expect a person in the Center of the country to make as much as the average wage in Los Angeles or New York City.

Until I was terminated 3 weeks ago, I was making $19.64 an hour ( what my state considers above the standard of living, don't make me laugh). The average wage in my area about $12.50, but both housing and rent are just as insane as if I lived in Indianapolis. A trailer is about $1100 to rent and thats not including utilities, Sewer, Taxes, etc.

The average apartment is $1500 a month.
 
Milk-Drops said:
Of course its going to vary depending on where you live. I don't expect a person in the Center of the country to make as much as the average wage in Los Angeles or New York City.

Until I was terminated 3 weeks ago, I was making $19.64 an hour ( what my state considers above the standard of living, don't make me laugh). The average wage in my area about $12.50, but both housing and rent are just as insane as if I lived in Indianapolis. A trailer is about $1100 to rent and thats not including utilities, Sewer, Taxes, etc.

The average apartment is $1500 a month.
Click to expand...
I made 20.15 with the city .it was good but not enough to where I could buy a house on that
 
Where I live one of the main issues recently is people buying houses as investments rather than as places to live. There was a story in our local paper not too long about about a woman who put her house up for sale and on the first day she got ten offers, but only two were from actual families that were looking for a place to live. The rest were all from "flippers", who just planned to buy it, renovate it, then sell it for a profit.
 
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