Author Topic: 18-34 year olds could be blamed for dragging down housing market  (Read 8556 times)

0 Members and 1 Guest are viewing this topic.

Offline TheL

  • The Cock Teasing Teacher
  • The Beast
  • *****
  • Posts: 2220
  • Gender: Female
  • Fly like cheese sticks.
Re: 18-34 year olds could be blamed for dragging down housing market
« Reply #30 on: June 15, 2012, 08:59:29 am »
I was going to buy a condo, but EVERY SINGLE ONE I could afford got snapped up by wealthy investors.
Ran into the same problem recently looking at some apartments. In any case my city is also experiencing a property bubble, so any house I buy will kill half of my salary for the next 30 years.

Honestly?  I fucking give up on buying anyplace that already has a house/condo on it.  I'm saving up to buy an acre of vacant lot and put one of these bad boys on it.  And I will wire it for solar from the get-go.

Admittedly, though, the fact that dome homes look fuckin' cool is as much a factor in my decision as the efficient design and the horrors of the Florida housing market.


Yes, I do want to own a home.  Mainly because I want to be able to paint walls, hang things, etc. without having to worry about changing everything back for the landlord, and I want to be able to own the number, size, and kind of pets I want without being arbitrarily limited by paternalistic COA's and HOA's.  That, and after a childhood of moving around every couple years, I want to stay PUT.  I was badly socially stunted for YEARS due to a combination of:  kids my age and kids my grade level being at two different levels of cognitive development, bullies constantly making fun of me FOR my social awkwardness, and the constant belief that I probably wouldn't stay in town long enough to make a real friend anyway.  (Since kindergarten, I have lived in 7 different homes in 3 different states, 5 of those during my K-12 years--and that's only counting places my family stayed in for 6 months or longer.)

I can definitely change one of these factors for my children.  Owning a home, to me, means I'm staying in one place for a couple decades.  (This is not what it means for my father.  He has owned 9 different homes in the last 27 years, selling each to buy a bigger, more expensive house.  Fuck that.)
« Last Edit: June 15, 2012, 10:00:26 am by TheL »
"Half the reason that I like foreign music is because I can kid myself that "Shake dat ass" is more poetic in Hindi."
--Sanda

Move every 'sig.'  For great justice!

Offline Dantes Virgil

  • Bishop
  • ***
  • Posts: 242
  • Gender: Female
Re: 18-34 year olds could be blamed for dragging down housing market
« Reply #31 on: June 20, 2012, 01:27:27 pm »
Shoot, many people in that age group are still figuring out where they want to settle down and spend a few decades.  Why get saddled with a house payment in a mostly shitty market when you're not sure if you're going to stay there for the next 3 - 5 years? 

In my college town, rent is absolutely terrible.  I was much better off getting a home, even with the extra costs of owning one.  The thing that most trips me out about that article is the damn age range.  I can see if they were maybe worrying about the 30-40 y.o. set.  But under 30?  Banks are NOT giving a lot of loans and wages are down!  It took a long time of saving up for me to be able to do so.  I was 32.  I'm not sure how I would've managed it if I were, say, in my mid-twenties, with the debt load I had/have and the lower salary.  And my pay isn't exactly stellar now.  I wonder sometimes who really writes these articles and what the hell kind of life they have to be so out of touch with most people.
« Last Edit: June 20, 2012, 01:29:39 pm by Dantes Virgil »

Offline rookie

  • Miscreant, petty criminal, and all around nice guy
  • The Beast
  • *****
  • Posts: 2200
  • Gender: Male
Re: 18-34 year olds could be blamed for dragging down housing market
« Reply #32 on: June 21, 2012, 09:53:41 am »
WTF, article? No bank is going to give a 25-34 year old a mortgage. It is hard enough for someone in their 40s with pretty decent credit to get a damn mortgage. Once the bubble popped, banks locked down their vaults hard. Yeah, shortly after the crash, I was able to pick up a foreclosed house. But I had to use the VA, FHA, and a 38% cash down payment. And the interest rate was sickening (well over 9%). And this was with a credit score in the 690-720 range.

So way to blame the absolute wrong people. And to do it in such a transparent way. Blaming the victim never goes out of style, does it.
The difference between 0 and 1 is infinite. The difference between 1 and a million is a matter of degree. - Zack Johnson

Quote from: davedan board=pg thread=6573 post=218058 time=1286247542
I'll stop eating beef lamb and pork the same day they start letting me eat vegetarians.

Offline chad sexington

  • Global Moderator
  • The Beast
  • *****
  • Posts: 992
Re: 18-34 year olds could be blamed for dragging down housing market
« Reply #33 on: June 21, 2012, 10:52:28 am »
I can definitely change one of these factors for my children.  Owning a home, to me, means I'm staying in one place for a couple decades.  (This is not what it means for my father.  He has owned 9 different homes in the last 27 years, selling each to buy a bigger, more expensive house.  Fuck that.)

Shit like that is why housing is so fucking expensive these days >:(

Offline Smurfette Principle

  • Will Blind You With Library Science!
  • The Beast
  • *****
  • Posts: 1639
  • Gender: Female
  • Pedicabo ego vos et irrumabo.
Re: 18-34 year olds could be blamed for dragging down housing market
« Reply #34 on: June 21, 2012, 11:25:24 am »
I don't want to buy a house until I really, really need one (and can afford it). For me, "needing" one is "do I have more than one or two kids and so therefore need open space?"

Offline N. De Plume

  • Mysterious Writing Implement
  • The Beast
  • *****
  • Posts: 1936
  • Gender: Male
  • Nom, nom, nom…
Re: 18-34 year olds could be blamed for dragging down housing market
« Reply #35 on: June 21, 2012, 07:09:18 pm »
WTF, article? No bank is going to give a 25-34 year old a mortgage. It is hard enough for someone in their 40s with pretty decent credit to get a damn mortgage. Once the bubble popped, banks locked down their vaults hard. Yeah, shortly after the crash, I was able to pick up a foreclosed house. But I had to use the VA, FHA, and a 38% cash down payment. And the interest rate was sickening (well over 9%). And this was with a credit score in the 690-720 range.

So much for a down market making things more affordable for he buyers.
-A Pen Name