Well, yeah. “House” no longer means “Place where people live”. It’s now defined as “long-term investment/passive income generator”.
Exactly. Which is why so many super expensive houses are actually fucking run down in run down shit neighborhoods.
I rarely agree with dictators, but when Xi xing ping said that houses are for living and not speculation he damn well was right.
The downpayment required on a home in my area, is almost the cost of the entire house was 20 years ago. We can’t even save for a downpayment when the finish line is running ahead of you at full speed
shit sucks. bought my house at age 38, that was fucking old back then, but i’m in an expensive metro so okay. thing is, we’re ready to upgrade and an upgrade is going to be fucking $2M, if i can even find a fucking upgrade in my town (questionable). all of this to say: i’m probably stuck, and if i can even move, some schmuck is going to buy my mediocre house for like $1.2 - $1.3M. housing’s totally, completely fucked.
Your million dollar home isnt enough for your family? What changed?
lol, you think i bought it for 1M? That’s what changed.
Okay so 600k? Even still though, a million dollar home you own thats gone up far over what you paid for it is going to leave you with a lot of options.
Its confusing to me that you need to upgrade and so are upset about the housing situation. You seem to be doing well by any standard I’m aware of so I’m asking what do I not know?
If people like me can’t upgrade, people who can afford $1.2M can’t get a modest house, and people with less than a $1M budget are utterly fucked. They’ll either move away or pay rent until they die.
What does upgrade even mean? Are you like two per room and are having more kids? None of this makes any sense without context.
The million dollar homes in my well populated area near a major city are gigantic homes.
I’m at the edge of being able to buy a house in my lifetime and it is so frustrating. I’ve had decent career progression, I live fairly comfortably right now, I still rent. Every year my finances are at a place where I could afford a home in a couple years but those couple of years never gets closer. I’ve decided I’m going back to college instead so I can crack into a more fulfilling but lower paying job. If I’m going to be a wage slave forever might as well be doing something I find value in instead of chasing a dead dream of owning a house
Ouuuhh interesting! Watcha gonna study?
Back to game dev. I tried the first time around over ten years ago, dropped out of college, got one abusive job in, then switched to QA automation for pay. I had a heavy focus on programming because I’m naturally good at it but I want to be a level designer so I’m going to study that specifically. Gonna halve my salary or worse to get into level design
I feel the gaming industry itself is abusive and low pay. In HS, I thought I was going into the video game industry as well. But now I’m just doing enterprise-y REST API development. It pays more and is less demanding than making games. Family comes first I guess. I can do my passion projects on the side if I want. I managed to buy a home by moving to LCOL area in Texas instead of going to California.
My entire social circle and marriage fell out from under me in the last year. Nobody left but me so I’m going to take advantage of the freedom to make questionable decisions since it will only affect me now if it goes sideways
I envy that type of freedom. Go for it! Hope you meet some awesome game developers and learn a lot!
Yeah it’s about the only silver lining of my life right now so I’m latching onto it! I’m pretty excited that it’s even a possibility for me should be interesting if it works out
Word of advice, don’t get into game dev. There’s no possible way it’s better than your current job.
Don’t tell me not to follow my life goals. I know what I’m getting into
At least you have your experience to fall back on if it doesn’t work out.
I graduated college a couple years ago with a comp sci degree. I had dreams of game dev as a kid, but anxiety about pay and affording a house plus just the overall shittiness in the games industry pushed me elsewhere. I’m currently in a QA automation job for a consulting company… wondering if I’m going to become you in 10 years
If you’re trans too then add that to the list lol. I got pulled away from the industry for stability reasons but I’m not in that situation anymore. I’ve only ever wanted to be a game dev, as a kid it never occurred to me to be anything else, it still doesn’t. I know I’m not one of those hotshot early twenties devs who cracked into the industry right away, I’m a bit slow to it, but I’ll get there if it kills me
Good QA is much more difficult than dev. If you got that down good, dev will be cake by comparison.
what qualifies you to make such a blanket statement?
You didn’t even miss the misplaced comma. Check mate. (Edit, I jest, but just asking the question means you don’t know and are probably a dev. Making something work one way is easy. Covering everything the dev missed because horse blinders takes skill. The best developers are ex-QA engineers.)
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I’m not sure I understand the reaction, mind explaining?
As an office worker I sometimes wonder if welding would have been a better path. Honestly don’t know. Depends on the person.
And yet they wonder why populism and extremism is on the rise…
Remember that, according to Whoopi Goldberg, if you can’t afford one you are just lazy.
Remember when people thought she was cool…
As a TNG fan she really hurts
Even cool people get old and therefore less cool.
Well not always. Some age like Betty White, some like Kevin Sorbo.
Fair enough. However generally people get lower mental flexibility.
That’s just a nonsensical metric to use to track the impact on young buyers. The fact that it has risen from 49 in the past year means there is something big going on, but what an indirect way to track it!
The median age of first-time buyers also rose from 35 to 38, while the share of first-timers dropped from 32% to 24% of all buyers for the year ending July 2024.
Median is better, and the fraction of first timers is an indicator. Would be best to know the median age of first timers.
Yeah, I’ve been saving hard for nearly 6 years now, I have zero debt from higher education, extremely cheap rent because I live in my parents’ backyard, and a well-paying job… and I still don’t know if I’ll be able to get a house by 2026.
If even one of those factors were different for me, then owning a home would become completely unrealistic.
And politicians wonder why we’re not having kids, huh.
I’m in the same boat. I’m not living in my parent’s backyard, but I still have cheap rent. All I can do is sit and wait and hope something changes.
If only they weren’t into avocado toast and coffee, this wouldn’t be a problem. /s
If the average mortality continues to fall will we see a situation where the average home owner is a corpse? Half of Americans are already dead from neck upwards.
“Access Denied”
anyone have a TLDR? I guess I pissed off cnbc somehow.
Here you go https://archive.is/zFv0k
Thanks!
So after reading a bit does this mean that houses will just be for the retired people in a few years?
I bought a property for my son to live in. I figure, I can pay for a modest condo now or he can buy it after I die. And #2 means paying rent for 20 years or so.
Great only 13 years until I can buy a fucking house
Hahaha. No. In 13 years those prices will have quintupled, but I’m willing to bet your income won’t.
Anyone who cannot afford a modest home today, will simply never be able to unless they inherit, win a lottery or land a ridiculously well paying job.
Saving up 5 years for a down payment? The price goes up faster than you can save. You could live like a hermit and eat nothing but ramen and still need years upon years only to even be considered for a loan.
No, people need to understand what has been stolen from them and rise up against it. Keeping the current system afloat will never bring any change, and what do they have to lose?
If you ever want to own a house like your parents, it’s time to start thinking up ways to bump off your siblings.
F*CK
