The prices of houses are more inflated than they've ever been in human history

[sakinago]

Due to a lack of halfway decent topics on USMB once again, and after being unhappy with how much I spent on groceries for only 2 people...I got to thinking about how much I pay on property taxes...on land that I freaking own. I was in a position to buy a historical house that needed A LOT of work done to it. Sure I bought it for a steal, but the work to get it livable was not at all a steal (thank god my family is in construction and excavation). Not many were in my fortunate position to get heavy equipment necessary for cheap.

To those who want to make fun of millennials living in their parents basement, fuck off. I wish I still did. The prices for houses and housing is more inflated than it's ever been, on top of that, we all encouraged our kids to go to college, where those prices are even more inflated than housing prices. No shit millennials are stuck in their parents basement. They're paying more for school loans than they are a mortgage. My school loans are relatively low...but my girlfriends aren't, and she's on the lower end of what most millennials are paying for school loans. It's nuts...why is it nuts.

Housing: too big to fail...no such thing in capitalism. The big fail all the time when they practice insane business strategies. But since we've instituted too big to fail (both bush and obama), now after the housing crash all the financiers practicing insane strategies knows it's a money maker since govt got their back when it all falls down. And now prices are worse than they were before the crash...not a good sign.

Schooling: Duh...I shouldn't have to mention this, but federal loans. Since many (including our universities) associate federal money with free money...obviously they think they can charge more...and get away with it...which they very clearly have. Guess what, it's not free money. Just like pensions, someone's going to be footing the bill down the road. Most people think hey, it's not going to be me, so fuck it, let's make some money off of it. If you're parents racked up their credit card bills before they were ready to croak, would that not piss you off?? Seriously, do some simple math. Obviously what have going on isn't working. And don't blame capitalism, because it's government intervention causing this.

 

[Tank]

What state you in?

 

[sakinago]

What state you in?

PA, don't be weird about it

 

[gallantwarrior]

I completely agree with your assessment. As usual, once government starts meddling in business and finance, everything they touch turns to gold for those advancing credit. Imagine the possibilities if both mortgage practices and student loans were governed by market forces? Government interference kills competition.

 

[Indeependent]

In the NY/LI vicinity, Loan Officers and Underwriters are bypassing the software and stamping papers with "Approved".
It's GW all over again.

 

[Indeependent]

I completely agree with your assessment. As usual, once government starts meddling in business and finance, everything they touch turns to gold for those advancing credit. Imagine the possibilities if both mortgage practices and student loans were governed by market forces? Government interference kills competition.

It's government and the banks knowing they're going to be able to repossess your home eventually.
You can't give a 22 year old making 50K/year a 700K mortgage.

 

[gallantwarrior]

I completely agree with your assessment. As usual, once government starts meddling in business and finance, everything they touch turns to gold for those advancing credit. Imagine the possibilities if both mortgage practices and student loans were governed by market forces? Government interference kills competition.

It's government and the banks knowing they're going to be able to repossess your home eventually.
You can't give a 22 year old making 50K/year a 700K mortgage.

Agreed!
That said, I would give almost anything to have my daughter and her family living in my basement (if I had one), or in their own place on my property.

 

[Remodeling Maidiac]

Due to a lack of halfway decent topics on USMB once again, and after being unhappy with how much I spent on groceries for only 2 people...I got to thinking about how much I pay on property taxes...on land that I freaking own. I was in a position to buy a historical house that needed A LOT of work done to it. Sure I bought it for a steal, but the work to get it livable was not at all a steal (thank god my family is in construction and excavation). Not many were in my fortunate position to get heavy equipment necessary for cheap.

To those who want to make fun of millennials living in their parents basement, fuck off. I wish I still did. The prices for houses and housing is more inflated than it's ever been, on top of that, we all encouraged our kids to go to college, where those prices are even more inflated than housing prices. No shit millennials are stuck in their parents basement. They're paying more for school loans than they are a mortgage. My school loans are relatively low...but my girlfriends aren't, and she's on the lower end of what most millennials are paying for school loans. It's nuts...why is it nuts.

Housing: too big to fail...no such thing in capitalism. The big fail all the time when they practice insane business strategies. But since we've instituted too big to fail (both bush and obama), now after the housing crash all the financiers practicing insane strategies knows it's a money maker since govt got their back when it all falls down. And now prices are worse than they were before the crash...not a good sign.

Schooling: Duh...I shouldn't have to mention this, but federal loans. Since many (including our universities) associate federal money with free money...obviously they think they can charge more...and get away with it...which they very clearly have. Guess what, it's not free money. Just like pensions, someone's going to be footing the bill down the road. Most people think hey, it's not going to be me, so fuck it, let's make some money off of it. If you're parents racked up their credit card bills before they were ready to croak, would that not piss you off?? Seriously, do some simple math. Obviously what have going on isn't working. And don't blame capitalism, because it's government intervention causing this.

 

[sakinago]

I completely agree with your assessment. As usual, once government starts meddling in business and finance, everything they touch turns to gold for those advancing credit. Imagine the possibilities if both mortgage practices and student loans were governed by market forces? Government interference kills competition.

It's government and the banks knowing they're going to be able to repossess your home eventually.
You can't give a 22 year old making 50K/year a 700K mortgage.

Make more than that, paid way less than that...granted I got a 30 year I'm looking to pay off in max 20 years, hoping for 15 years...still I'm bitching about the price. I'm the fuckinn responsible one reaping the shit from those giving and taking these crazy loans. This doesn't happen in a world where you sow what you reap...it just doesn't. You don't survive as a business or as a loanee. How many here still believe in too big to fail??

 

[Indeependent]

I completely agree with your assessment. As usual, once government starts meddling in business and finance, everything they touch turns to gold for those advancing credit. Imagine the possibilities if both mortgage practices and student loans were governed by market forces? Government interference kills competition.

It's government and the banks knowing they're going to be able to repossess your home eventually.
You can't give a 22 year old making 50K/year a 700K mortgage.

Make more than that, paid way less than that...granted I got a 30 year I'm looking to pay off in max 20 years, hoping for 15 years...still I'm bitching about the price. I'm the fuckinn responsible one reaping the shit from those giving and taking these crazy loans. This doesn't happen in a world where you sow what you reap...it just doesn't. You don't survive as a business or as a loanee. How many here still believe in too big to fail??

On LI you can't touch a house for less than 550K, and that's a house that's small and in so so condition.
Prices have risen about 200K in the last year or so.

 

[skye]

And in some countries is even more inflated prices than others....

 

[sakinago]

Due to a lack of halfway decent topics on USMB once again, and after being unhappy with how much I spent on groceries for only 2 people...I got to thinking about how much I pay on property taxes...on land that I freaking own. I was in a position to buy a historical house that needed A LOT of work done to it. Sure I bought it for a steal, but the work to get it livable was not at all a steal (thank god my family is in construction and excavation). Not many were in my fortunate position to get heavy equipment necessary for cheap.

To those who want to make fun of millennials living in their parents basement, fuck off. I wish I still did. The prices for houses and housing is more inflated than it's ever been, on top of that, we all encouraged our kids to go to college, where those prices are even more inflated than housing prices. No shit millennials are stuck in their parents basement. They're paying more for school loans than they are a mortgage. My school loans are relatively low...but my girlfriends aren't, and she's on the lower end of what most millennials are paying for school loans. It's nuts...why is it nuts.

Housing: too big to fail...no such thing in capitalism. The big fail all the time when they practice insane business strategies. But since we've instituted too big to fail (both bush and obama), now after the housing crash all the financiers practicing insane strategies knows it's a money maker since govt got their back when it all falls down. And now prices are worse than they were before the crash...not a good sign.

Schooling: Duh...I shouldn't have to mention this, but federal loans. Since many (including our universities) associate federal money with free money...obviously they think they can charge more...and get away with it...which they very clearly have. Guess what, it's not free money. Just like pensions, someone's going to be footing the bill down the road. Most people think hey, it's not going to be me, so fuck it, let's make some money off of it. If you're parents racked up their credit card bills before they were ready to croak, would that not piss you off?? Seriously, do some simple math. Obviously what have going on isn't working. And don't blame capitalism, because it's government intervention causing this.

I seriously doubt you're a grandpa, and I highly suspect your actually still living in your parents basement, parading as a grandpa, because you think you're old school and wise.
1. Most grandparents don't know what family guy is, or the monkey your avatar references too
2. No grandparent uses the word murked. Why? Because the older you get, the less you give a shit about what other people think. No grandparent would give two shits to try to keep up in a serious way with youth lingo. You're either an extremely insecure grandpa, or someone younger parading as a grandpa...I'd say the latter is more likely.
3. You don't at all speak like a grandparent. Emojis??? Are you serious? I'm 29 I don't use fucking emojis, BC I'm not a 12 year old girl. Nor have I ever met a grandparent capable of usingn emojis.

Think that's a pretty solid case right there.

 

[sakinago]

I completely agree with your assessment. As usual, once government starts meddling in business and finance, everything they touch turns to gold for those advancing credit. Imagine the possibilities if both mortgage practices and student loans were governed by market forces? Government interference kills competition.

It's government and the banks knowing they're going to be able to repossess your home eventually.
You can't give a 22 year old making 50K/year a 700K mortgage.

Make more than that, paid way less than that...granted I got a 30 year I'm looking to pay off in max 20 years, hoping for 15 years...still I'm bitching about the price. I'm the fuckinn responsible one reaping the shit from those giving and taking these crazy loans. This doesn't happen in a world where you sow what you reap...it just doesn't. You don't survive as a business or as a loanee. How many here still believe in too big to fail??

On LI you can't touch a house for less than 550K, and that's a house that's small and in so so condition.
Prices have risen about 200K in the last year or so.

Are you referring to Long Island?

 

[Indeependent]

I completely agree with your assessment. As usual, once government starts meddling in business and finance, everything they touch turns to gold for those advancing credit. Imagine the possibilities if both mortgage practices and student loans were governed by market forces? Government interference kills competition.

It's government and the banks knowing they're going to be able to repossess your home eventually.
You can't give a 22 year old making 50K/year a 700K mortgage.

Make more than that, paid way less than that...granted I got a 30 year I'm looking to pay off in max 20 years, hoping for 15 years...still I'm bitching about the price. I'm the fuckinn responsible one reaping the shit from those giving and taking these crazy loans. This doesn't happen in a world where you sow what you reap...it just doesn't. You don't survive as a business or as a loanee. How many here still believe in too big to fail??

On LI you can't touch a house for less than 550K, and that's a house that's small and in so so condition.
Prices have risen about 200K in the last year or so.

Are you referring to Long Island?

Yes.

 

[sakinago]

I completely agree with your assessment. As usual, once government starts meddling in business and finance, everything they touch turns to gold for those advancing credit. Imagine the possibilities if both mortgage practices and student loans were governed by market forces? Government interference kills competition.

It's government and the banks knowing they're going to be able to repossess your home eventually.
You can't give a 22 year old making 50K/year a 700K mortgage.

Make more than that, paid way less than that...granted I got a 30 year I'm looking to pay off in max 20 years, hoping for 15 years...still I'm bitching about the price. I'm the fuckinn responsible one reaping the shit from those giving and taking these crazy loans. This doesn't happen in a world where you sow what you reap...it just doesn't. You don't survive as a business or as a loanee. How many here still believe in too big to fail??

On LI you can't touch a house for less than 550K, and that's a house that's small and in so so condition.
Prices have risen about 200K in the last year or so.

Are you referring to Long Island?

Yes.

Fuck that. I get location does play a major role...but fuck that. That's out of control. I like my land and privacy, and I paid for a fraction of that, and my house alone is worth waaaaaayyy more than the houses you are describing, location being considered

 

[Remodeling Maidiac]

Due to a lack of halfway decent topics on USMB once again, and after being unhappy with how much I spent on groceries for only 2 people...I got to thinking about how much I pay on property taxes...on land that I freaking own. I was in a position to buy a historical house that needed A LOT of work done to it. Sure I bought it for a steal, but the work to get it livable was not at all a steal (thank god my family is in construction and excavation). Not many were in my fortunate position to get heavy equipment necessary for cheap.

To those who want to make fun of millennials living in their parents basement, fuck off. I wish I still did. The prices for houses and housing is more inflated than it's ever been, on top of that, we all encouraged our kids to go to college, where those prices are even more inflated than housing prices. No shit millennials are stuck in their parents basement. They're paying more for school loans than they are a mortgage. My school loans are relatively low...but my girlfriends aren't, and she's on the lower end of what most millennials are paying for school loans. It's nuts...why is it nuts.

Housing: too big to fail...no such thing in capitalism. The big fail all the time when they practice insane business strategies. But since we've instituted too big to fail (both bush and obama), now after the housing crash all the financiers practicing insane strategies knows it's a money maker since govt got their back when it all falls down. And now prices are worse than they were before the crash...not a good sign.

Schooling: Duh...I shouldn't have to mention this, but federal loans. Since many (including our universities) associate federal money with free money...obviously they think they can charge more...and get away with it...which they very clearly have. Guess what, it's not free money. Just like pensions, someone's going to be footing the bill down the road. Most people think hey, it's not going to be me, so fuck it, let's make some money off of it. If you're parents racked up their credit card bills before they were ready to croak, would that not piss you off?? Seriously, do some simple math. Obviously what have going on isn't working. And don't blame capitalism, because it's government intervention causing this.

I seriously doubt you're a grandpa, and I highly suspect your actually still living in your parents basement, parading as a grandpa, because you think you're old school and wise.
1. Most grandparents don't know what family guy is, or the monkey your avatar references too
2. No grandparent uses the word murked. Why? Because the older you get, the less you give a shit about what other people think. No grandparent would give two shits to try to keep up in a serious way with youth lingo. You're either an extremely insecure grandpa, or someone younger parading as a grandpa...I'd say the latter is more likely.
3. You don't at all speak like a grandparent. Emojis??? Are you serious? I'm 29 I don't use fucking emojis, BC I'm not a 12 year old girl. Nor have I ever met a grandparent capable of usingn emojis.

Think that's a pretty solid case right there.

Lolololol

Raised 5 children. Have 2 grandchildren and a couple floundering millennial children living in my home.
Business owner of near 30 years, top rated by the BBB & Angieslist.

Go CRY some more....
I don't disagree with some of what you said but your whiney ass rant is hysterical.

 

[Remodeling Maidiac]

Woe is me!!!

 

[Remodeling Maidiac]

Real men don't whine about their problems. They do what it takes to FIX THEM

 

[Bonzi]

Due to a lack of halfway decent topics on USMB once again, and after being unhappy with how much I spent on groceries for only 2 people...I got to thinking about how much I pay on property taxes...on land that I freaking own. I was in a position to buy a historical house that needed A LOT of work done to it. Sure I bought it for a steal, but the work to get it livable was not at all a steal (thank god my family is in construction and excavation). Not many were in my fortunate position to get heavy equipment necessary for cheap.

To those who want to make fun of millennials living in their parents basement, fuck off. I wish I still did. The prices for houses and housing is more inflated than it's ever been, on top of that, we all encouraged our kids to go to college, where those prices are even more inflated than housing prices. No shit millennials are stuck in their parents basement. They're paying more for school loans than they are a mortgage. My school loans are relatively low...but my girlfriends aren't, and she's on the lower end of what most millennials are paying for school loans. It's nuts...why is it nuts.

Housing: too big to fail...no such thing in capitalism. The big fail all the time when they practice insane business strategies. But since we've instituted too big to fail (both bush and obama), now after the housing crash all the financiers practicing insane strategies knows it's a money maker since govt got their back when it all falls down. And now prices are worse than they were before the crash...not a good sign.

Schooling: Duh...I shouldn't have to mention this, but federal loans. Since many (including our universities) associate federal money with free money...obviously they think they can charge more...and get away with it...which they very clearly have. Guess what, it's not free money. Just like pensions, someone's going to be footing the bill down the road. Most people think hey, it's not going to be me, so fuck it, let's make some money off of it. If you're parents racked up their credit card bills before they were ready to croak, would that not piss you off?? Seriously, do some simple math. Obviously what have going on isn't working. And don't blame capitalism, because it's government intervention causing this.

Going to college is a huge waste of money. People spend too much on unnecessaries, bottom line. Budgeting should be taught in schools and in the home.

 

[Remodeling Maidiac]

#firstworldproblems