Housing Prices..hmm

TTR230

Veteran Member
Aug 1, 2020
619
Burlington, Ontario
Right. I dont get it either. People will argue the economy is in the toilet, inflation is out of control, but spending doesnt seem to be a problem for people.
I don't get it either? What an I doing wrong, lol. Kids across the street from me (okay, they're like 30) have average jobs, and clearly don't save, judging by the conspicuous consumption, but just bought the house last year for almost a mil. Credit is easy to get, I guess.
 

Da-bigguy

Veteran Member
Lifetime Gold Member
Jan 19, 2010
6,053
Cypress, TX
I don't get it either? What an I doing wrong, lol. Kids across the street from me (okay, they're like 30) have average jobs, and clearly don't save, judging by the conspicuous consumption, but just bought the house last year for almost a mil. Credit is easy to get, I guess.
They probably have something like a 60 year mortgage and if they lose their job(s), everything is gone in a heartbeat!! My brother lives in Burlington but he bought his house probably 24 years ago. I suspect it is valued a whole lot more now than it was then!
 

TTR230

Veteran Member
Aug 1, 2020
619
Burlington, Ontario
They probably have something like a 60 year mortgage and if they lose their job(s), everything is gone in a heartbeat!! My brother lives in Burlington but he bought his house probably 24 years ago. I suspect it is valued a whole lot more now than it was then!
Haha, my neighbor bought his house 15 years ago for around $350,000. He just sold now for close to $1.2. We're in a similar situation, and' It's nice to think that we have that much equity in our house, but of course, that's pretend money since you still have to move somewhere else after you've sold.
 

Knuckle Dragger

Mayor of Simpleton
Staff member
Lifetime Gold Member
Nov 2, 2002
16,796
Waddell AZ
I don't get it either? What an I doing wrong, lol. Kids across the street from me (okay, they're like 30) have average jobs, and clearly don't save, judging by the conspicuous consumption, but just bought the house last year for almost a mil. Credit is easy to get, I guess.
Not to be a dick, but how do you know whether they save or not, income level etc? Do they discuss it with you? People seem to make judgements without knowing the circumstances to fit a narrative they have in their head.
 

TTR230

Veteran Member
Aug 1, 2020
619
Burlington, Ontario
Not to be a dick, but how do you know whether they save or not, income level etc? Do they discuss it with you? People seem to make judgements without knowing the circumstances to fit a narrative they have in their head.
Who's making judgements? I just said what I see and hear. I don't know how kids do it now. No need to get all dickish. I don't know how they do it, and I don't care
 

dcozzi

Veteran Member
May 1, 2002
4,545
Phoenix, AZ
I think there are a lot of well paid jobs that have no tangible results. Basically, it is equivalent to pushing paper. The actual physical building of America by manual labor has been replaced by computer driven jobs and "decisionmakers". The physical labor is not attractive to anybody anymore. Blue collar has become a "lesser" form of work. Partially because skilled tradesmen have been replaced with less skilled people willing to go through the motions just to make a lesser wage so the wealthy can show larger profits. One of the big reasons why the quality of US work has become second to most other countries. If I could get my thoughts in order I could probably link it all together and make something that really makes sense but it's not going to earn me any money so I'll keep plugging away at my regular job. Not to mention I'm tired because I actually worked today.
 

tom3

Veteran Member
Aug 1, 1999
14,506
ohio
Exactly what we're seeing here in Appalach. Got the Amish and a couple Mexican groups that do 90% of the non-government construction.
 

xten

Veteran Member
Sep 24, 2014
4,752
Pittsburgh, Pa.
I think there are a lot of well paid jobs that have no tangible results. Basically, it is equivalent to pushing paper. The actual physical building of America by manual labor has been replaced by computer driven jobs and "decisionmakers". The physical labor is not attractive to anybody anymore. Blue collar has become a "lesser" form of work. Partially because skilled tradesmen have been replaced with less skilled people willing to go through the motions just to make a lesser wage so the wealthy can show larger profits. One of the big reasons why the quality of US work has become second to most other countries. If I could get my thoughts in order I could probably link it all together and make something that really makes sense but it's not going to earn me any money so I'll keep plugging away at my regular job. Not to mention I'm tired because I actually worked today.
Exactly what we're seeing here in Appalach. Got the Amish and a couple Mexican groups that do 90% of the non-government construction.

I grew up in a blue collar steel town. Mills shut down, everybody left, called it "brain drain". It's a big ghetto now.
It's amazing when a contractor shows up now when they're supposed to, and it seems like they bring a license to steal if they do.
I have a friend that installs cable. He has told me stories of these million dollar McMansions with 2 or 3 expensive cars in the driveway. Plywood floors, one had a picnic table in the dining room, mattresses on the floor, very little furniture. I guess what's important sure has changed.
 

ssupercoolss

Veteran Member
Nov 3, 2015
1,099
PA
Kids across the street from me (okay, they're like 30) have average jobs, and clearly don't save,
I work with somewhere around 110 people, ranging from salesman, operations, foreman, operators, laborers, etc, everything you might find in construction. age 20 to 68. i can tell you about 85% of the people here live pretty much pay check to pay check. i remember when we had paper payroll checks on thursday, and if the weather was bad and knocked the crews off, people would drive here just to get their paycheck.
I feel fortunate that i started buying houses early in my life. i have never had an actual mortgage + tax + insurance that was over like $1200. I always pay more, but never had a mortgage that was so high that it kept me up at night.
My buddies kid bought the biggest fixer upper in town, that was the only way he was going to have a house here, lucky he did a private sale, pre covid stupidity. He works hard, saves money, has a good head on his shoulders, but man, his mortgage has to be at a level i dont think i would be comfortable with.
 

76z28

Veteran Member
Jun 29, 2009
2,586
bakersfield
I work with somewhere around 110 people, ranging from salesman, operations, foreman, operators, laborers, etc, everything you might find in construction. age 20 to 68. i can tell you about 85% of the people here live pretty much pay check to pay check. i remember when we had paper payroll checks on thursday, and if the weather was bad and knocked the crews off, people would drive here just to get their paycheck.
I feel fortunate that i started buying houses early in my life. i have never had an actual mortgage + tax + insurance that was over like $1200. I always pay more, but never had a mortgage that was so high that it kept me up at night.
My buddies kid bought the biggest fixer upper in town, that was the only way he was going to have a house here, lucky he did a private sale, pre covid stupidity. He works hard, saves money, has a good head on his shoulders, but man, his mortgage has to be at a level i dont think i would be comfortable with.
I remember when I used to be that way myself, it sucked! Sure I could wait to go grab my paycheck now, but mentally it's hard to get over going to go get what is yours.
Mine is 1400, it's my first house and I feel fortunate that it's that "low" compared to what my friends are having to buy or pay in rent.
 




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