| Favorite team: | LSU  |
| Location: | Tyler, Texas |
| Biography: | |
| Interests: | Football, Cars, Hunting, Fishing, Movies, Politics, Guns, Current Events |
| Occupation: | |
| Number of Posts: | 4322 |
| Registered on: | 1/30/2010 |
| Online Status: | Not Online |
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quote:
Why not use the $20K and invest it in an index fund at a 10% nominal average annual return or roughly 7% to 8% adjusted for inflation, in 30 years the daughter would have roughly $348,988 as a graduation gift? This is just a stupid waste of money.
While I totally agree it’s a waste of money, most of these families have generational wealth and $20k is nothing to them. Example: My college girlfriend didnt like her freshman year roommate so her dad bought her a $450k house 1 block from campus
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re: What’s the fastest you’ve ever seen someone legitimately become rich?
Posted by MC5601 on 8/8/26 at 12:26 am to FlyingTigerBo
Not stupid rich but as a freshman at LSU a friend told us about this thing called Bitcoin and I bought 10 of them for roughly $10. Forgot about it, threw away my laptop a few years later and my hard drive is currently in the landfill with $700k on it or whatever bitcoin is worth these days. No idea what my password or encryption key was and all I can do is laugh
quote:
You are not in the top 10% of earners and incapable of owning a home. There are other situational factors or choices you have made that lead to this situation
Certainly not incapable. The problem is that a 4/3 in a good area with good schools (no private school) and a reasonable commute costs $650k+. Daycare is another $3.6k a month for 2 kids so also something to think about. Will not compromise on keeping our 401k investments maxed as I do not think SS will be there in 30 years. We can technically afford it but it would put us in a position where we are living month to month so don’t want to go that route.
re: I think people need to accept that the housing window has closed
Posted by MC5601 on 8/2/26 at 8:24 pm to armytiger96
quote:
DFW. Try to find a 4/3 house in a safe neighborhood with good schools for under $450k and under 45 min commute to downtown. Impossible I was applying the typical multiplier of 3-5. Good for you for trying to stay under that.
I invest heavily and want to continue to do so to fund a retirement before 60. We make a good living but $7k a month between mortgage, taxes, and insurance on a $700k home is something I just can’t stomach.
re: I think people need to accept that the housing window has closed
Posted by MC5601 on 8/2/26 at 6:33 pm to armytiger96
quote:
This has to be a troll. Earning $200,000+ and can't afford a decent home. Where?
DFW. Try to find a 4/3 house in a safe neighborhood with good schools for under $450k and under 45 min commute to downtown. Impossible
quote:
“$80k in 1988” Equivelant is $230,908.90 in 2026.
You are proving my point. That same house is $450k today
re: I think people need to accept that the housing window has closed
Posted by MC5601 on 8/2/26 at 11:20 am to Zappas Stache
quote:
So what you’re saying is that people should go to college, work their arse off, earn an above average income, save $110k (20%) for a down payment for a neighborhood and house they don’t want. Sounds like the American dream to me
Yes....and this is what your parents did and their parents and their parents . Your entitlement is showing.
This is laughable. My parents first house was $80k in 1988 and they were able to buy at 23 years old right out of college. The house I grew up in was $120k for 3100 square foot in a great neighborhood purchased in 1998. Same house is $500k today. There was an extreme shift after 2020 that has made it nearly impossible for first time homeowners and the data proves it. My parents and grandparents didn't have it nearly this hard and my parents openly admit it. I am in the top 10% of American income earners and can’t afford a home in a decent area on my own - that’s crazy
quote:
My two kids (in their early 40’s) did fine. They both have homes valued around 2 million.
That’s fantastic for them. They must make about $600k per year to afford that home which is amazing. Unfortunately about 98% of Americans will never get there.
re: I think people need to accept that the housing window has closed
Posted by MC5601 on 8/1/26 at 6:07 pm to Zappas Stache
quote:
You can still buy a house but it may not be your dream house or in the neighborhood you want.
So what you’re saying is that people should go to college, work their arse off, earn an above average income, save $110k (20%) for a down payment for a neighborhood and house they don’t want. Sounds like the American dream to me
re: I think people need to accept that the housing window has closed
Posted by MC5601 on 8/1/26 at 4:49 pm to DeathValley85
Headline from today:
The U.S. housing market just hit the most unaffordable level in recorded history and the data behind that headline is worse than most people realize.
According to the St. Louis Fed, Harvard's Joint Center for Housing Studies, and Bankrate's 2026 analysis, we have now officially surpassed the affordability crisis of the 2006 housing bubble.
The inflation-adjusted Case-Shiller Index confirms it. We're not approaching the bubble peak. We've blown past it.
Here's what the actual numbers look like right now:
- More than 75% of U.S. homes for sale are unaffordable to the typical American household
- The median U.S. household earns roughly $80,000 a year
- You need approximately $113,000 in annual income to afford a median-priced home at current rates
- That gap, $33,000, is the largest income-to-home-price deficit in American history
- Median home prices have increased 217% since 2000 while household incomes grew just 153%
- The number of homes affordable to households earning $75,000 or less has dropped 60% since 2019
- 11 million extremely low-income renters are competing for just 3.8 million affordable available units
- Dave Ramsey called it "the most unrealistic real estate market in 100 years"
And here's the trap nobody talks about openly.
Homeowners who locked in 3% mortgages during the pandemic can't afford to sell. Moving up means giving up a rate that no longer exists and taking on a new loan in the sixes or sevens. So instead of selling they're becoming accidental landlords, renting their old homes out and freezing inventory for everyone trying to buy.
The market isn't just unaffordable. It's LOCKED. Sellers who can't sell. Buyers who can't buy. Renters who can't save fast enough to bridge the gap. And a construction pipeline that isn't moving fast enough to matter at scale.
The U.S. housing market just hit the most unaffordable level in recorded history and the data behind that headline is worse than most people realize.
According to the St. Louis Fed, Harvard's Joint Center for Housing Studies, and Bankrate's 2026 analysis, we have now officially surpassed the affordability crisis of the 2006 housing bubble.
The inflation-adjusted Case-Shiller Index confirms it. We're not approaching the bubble peak. We've blown past it.
Here's what the actual numbers look like right now:
- More than 75% of U.S. homes for sale are unaffordable to the typical American household
- The median U.S. household earns roughly $80,000 a year
- You need approximately $113,000 in annual income to afford a median-priced home at current rates
- That gap, $33,000, is the largest income-to-home-price deficit in American history
- Median home prices have increased 217% since 2000 while household incomes grew just 153%
- The number of homes affordable to households earning $75,000 or less has dropped 60% since 2019
- 11 million extremely low-income renters are competing for just 3.8 million affordable available units
- Dave Ramsey called it "the most unrealistic real estate market in 100 years"
And here's the trap nobody talks about openly.
Homeowners who locked in 3% mortgages during the pandemic can't afford to sell. Moving up means giving up a rate that no longer exists and taking on a new loan in the sixes or sevens. So instead of selling they're becoming accidental landlords, renting their old homes out and freezing inventory for everyone trying to buy.
The market isn't just unaffordable. It's LOCKED. Sellers who can't sell. Buyers who can't buy. Renters who can't save fast enough to bridge the gap. And a construction pipeline that isn't moving fast enough to matter at scale.
re: I think people need to accept that the housing window has closed
Posted by MC5601 on 8/1/26 at 9:54 am to lsupride87
quote:
Whats ignorant is not realizing paying 250k for a home that needs work 40 minutes from your job is not fricking ideal for a “starter” home. That’s expensive as frick and shows the problem
I would kill for a $250k house in a safe neighborhood that needs a little work 40 mins from work. That house in DFW would be about $500k
quote:
In Tyler, TX?
Originally from Tyler but live and work in DFW. A nice house can be had in Tyler for $450k but good luck getting a 6 figure job lol - otherwise I’d move back
re: I think people need to accept that the housing window has closed
Posted by MC5601 on 7/31/26 at 6:05 pm to WaydownSouth
quote:
Do you have student loans or car payments? We are in the same ball park financially and our house was a little over 400k. Would not feel comfortable with a $650k house with 2 kids-- ETA unless you are putting a significant down payment down Once our kids are old enough to start public schools and we have $1400+ a month in freed up expenses, may be a different story
No student loans and car payments total about $700 per month. A $400k house around here would be in the hood with minority majority schools. Crazy that we can be in the top 7-8% of household earners and barely be able to afford a safe neighborhood. Something has to change
re: I think people need to accept that the housing window has closed
Posted by MC5601 on 7/31/26 at 1:32 pm to brass2mouth
quote:
Before there were plenty of two bed, one bath “starter style” homes for people. However, those don’t generally do well on the market so builders when they buy a neighborhood build 3/4/5 bedrooms to demands more money.
And when they do build these, it’s an hour commute from the business district and in an area with crime and terrible schools. Time to bulldoze the ghetto and turn it into safe places where productive society can live without spending 2+ hours commuting every day
quote:
It will likely be somewhere around $650k for about 3000 square foot. Even with our combined salary of $280k this is pushing it. I can't tell if you are serious or not
Dead serious. Our take home after taxes and retirement is about $13k and spending half of that on housing seems very risky. We want 2-3 kids and daycare is about $1,800 per month per kid so have to factor that in as well
re: I think people need to accept that the housing window has closed
Posted by MC5601 on 7/31/26 at 1:15 pm to CPA Yung Boi
quote:
If you live in DFW with no kids and a household income of $140k your options are as follows 1. Rent a nice 2 bedroom apartment close to work, within 20 minute commute. About $2500 a month 2. Buy a builder grade 3/2 over an hour away from your office for $375k if you’re lucky. So now you get to spend a couple of hundred dollars a month commuting and you’re bordering house poor 3. Buy a literal shack in south Dallas thats a 30 minute commute and you may get robbed or killed. $325k. And that’s two college graduates with good jobs
So true. My girlfriend and I are in our mid 30s and thinking of getting married soon. We both rent currently and are looking at buying a forever home around flower mound due to the good school district. (Won’t have to send kids to private). It will likely be somewhere around $650k for about 3000 square foot. Even with our combined salary of $280k this is pushing it. Only other option would be to drive over an hour to and from work to save about $100k for a similar home. I have no idea how the “average” American who makes $80k per year functions in this economy. Between mortgage, taxes, insurance, utilities our monthly housing costs will be about $7000 for what most would consider a middle of the road home in a nice, safe neighborhood.
re: I think people need to accept that the housing window has closed
Posted by MC5601 on 7/31/26 at 1:02 pm to Odysseus32
The upper middle class house that was affordable at $350k per year in 2019 is now $600-700k in most major cities. Salaries have not gone up anywhere near that much in the same time frame. If you purchased before 2020 you’re good because you sit on great equity. Anyone trying to enter the game as a first time buyer will have a very hard time. 55% of Americans say they could not afford the home they currently live in if they were to buy at current market prices
re: Start saving your money - the CMP will be selling m14s
Posted by MC5601 on 7/26/26 at 2:51 pm to homesicktiger
I bought a couple garands from them a few years ago and all I needed for the “marksmanship activity” portion was a hunting license and a hunters education certificate
quote:
It’s like you keep trying to turn this into people saying that no one has ever had it hard up until now. That’s no what anyone is saying at all.
The market has had ups and downs since the beginning of time. The unique thing about the current situation is that prices, on average, went up 50% in 6 years. That is unprecedented. There is no denying that homes are more expensive than ever before in relation to income. That’s statistical fact. You can make an above average salary and not be able to afford a home in the current environment. Over 55% of people who own homes in America say they would not be able to afford the home they are in at current market value. Many people who got into the housing market before 2021 refuse to acknowledge the statistics
quote:
Principal on 400k is 2550. Not sure where you are coming up with 6000 for homeowners. My house is valued at 1.2 million replacement cost and I pay 4300. My property taxes are 8700. Again you are making shite up.
Not sure where you are located but in Texas, insurance is about $500 per month on a $500k house due to wind, hail, tornados, extreme weather. It’s very likely youll need a new roof every 10-15 years which drives prices through the roof. Property taxes in DFW average 1.8-2.1% of home value so a $500k house will pay about $12k per year in property tax. You have no idea what you’re talking about
quote:
So if you average 170k and you are just getting married. Then you don’t need great schools yet. But let’s assume you did. The 10 years before you get married you could save 80-100k for a downpayment. Buy a 500k house. Your mortgage is 2800. Your take home should be around 9700 monthly. You are at 27% of take home. If you can’t find a nice home in a metro area with good schools then you have to move. In Atlanta they are plentiful.
$2800 mortgage
$800 per month property tax
$500 per month insurance
$300 per month utilities
$4400 per month on housing is pretty steep for $170k per year
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