In other news (apolitical thread)...

[GopherRock]

The housing market is cooling, and some once-booming regions are feeling it most.

Realtor.com analyzed the top metros where homes are sitting on the market much longer than last year.

Learn more about the cities that are slowing down the fastest: https://rltor.cm/y5iad8


[img width=234.333 height=500]https://i.imgur.com/8gvTLh7.png[/img]

If were talking anecdotes, I'll offer the Twin Cities housing market. 

Send some of that housing stock to the Twin Cities. Below mid 450s, supply is still tighter than a gnats ass. Interest rates aren't slowing anything down. Houses are still going for 30K+ over ask with multiple cash bids, waived inspections, and all that associated stupidity on gassed-up split levels that should be $100K less than what they are. 

The only real pressure seems to be around the $500K price point. 

If a house isn't pending in less than a week, everyone is wondering what's wrong with it. 3 houses in my neighborhood have sold since spring, and none of them took more than a week to sell. 

[FearlessF]

Who is making this argument?  It's not about that, it's an explanation for fewer homes for sale in an environment where many, many more homes are needed.

some do make that argument - similar to hating billionaires
some of the people that are friends and in the age group of my daughters (mid-20s to mid 30s)
the whiners that buying a home is impossible today and much tougher than it was 40 years ago

[OrangeAfroMan]

some do make that argument - similar to hating billionaires
some of the people that are friends and in the age group of my daughters (mid-20s to mid 30s)
the whiners that buying a home is impossible today and much tougher than it was 40 years ago

But it is.  Entry-level almost doesn't exist anymore.  

[FearlessF]

I disagree

My daughter (28 & asst manager at a bar in Lincoln) and her husband (a chef) bought a house for $200K in Lincoln about a year ago

They had no help from outside with the down payment

[betarhoalphadelta]

No politics, OAM. 

[bayareabadger]

Your first paragraph is incorrect.  Your edits are more to the point, but I can put it more succinctly.

I'm telling young people to stop complaining that homebuying is impossible, when it's not.  I'm telling them to stop believing they have it so much worse, when they really don't.

For the people who AREN'T complaining, I'm saying nothing.

It’s worse, but the complainers are complaining too much feels like a good outlook for our times. 

Shoot, sometimes it’s better and folks are still complaining too much. 

[OrangeAfroMan]

I disagree

My daughter (28 & asst manager at a bar in Lincoln) and her husband (a chef) bought a house for $200K in Lincoln about a year ago

They had no help from outside with the down payment

Jesus fucking christ.  I give up.  

Individual, personal experiences > meta data of millions of examples

[Gigem]

But it is.  Entry-level almost doesn't exist anymore. 

How much do you think entry level should cost ?  

BTW, in my parents time and before, it was not unusual at all for someone to build their own house with their own hands. Maybe not 100%, but certainly a very large part of it. My parents house has a fireplace and chimney, my dad and uncle built it themselves. Along with a lot of other parts of the house. 

Of course, government control, permits, code requirements, etc have put a damper on that, but it can still be done. 

[OrangeAfroMan]

my dad and uncle built it themselves. 

I'm done.  

Rename the thread "In Other Personal Anecdotes" FFS

[847badgerfan]

How much do you think entry level should cost ? 

BTW, in my parents time and before, it was not unusual at all for someone to build their own house with their own hands. Maybe not 100%, but certainly a very large part of it. My parents house has a fireplace and chimney, my dad and uncle built it themselves. Along with a lot of other parts of the house.

Of course, government control, permits, code requirements, etc have put a damper on that, but it can still be done.

Free.

[Cincydawg]

I think we're all mature enough to understand that a personal anecdote is in no way intended to be a broad generalization or applicable to every person and situation.  I don't find anything wrong with them.

There is a good point about about "households" and how that figure today likely reflects more "one adult HHs" than it did 30 years ago.

[847badgerfan]

I'm going to post one anecdote per day, and when I'm done posting anecdotes, there won't be any more.

I was thinking about Chicago Public Schools. $115,000 year average for teachers for

[betarhoalphadelta]

Jesus fucking christ.  I give up. 

Individual, personal experiences > meta data of millions of examples

Where's your data, rather than just assertions? 

How about this?

Here's Phoenix:




And the amount of money needed to buy a $200K house:




And here's from Zillow, over 1,000 housing units for sale that are 2bd/2ba or larger, in Phoenix:



So tell me again that "entry level" doesn't exist.

[Cincydawg]

Do folks really expect to come out of college and immediately buy a starter home?  No doubt some day, perhaps with parental aid.

Obviously, some factors beyond just salary are relevant.  If I'm a single male, I probably prefer to live in an apartment for a while.  If I have a nice salary, I may save up some and fix and credit problems and get a downpayment, and enjoy some time living in a nicer area than I did in school.  

What the data show is that folks are buying at an older age than 20-30-40 years back.