Home debt is the driver like I said. Texas, Oklahoma, Nebraska have much lower home prices and

Sign up, and CougarBoard will remember which categories you want to view. Sign up

Report problem with this ad

Jan 20, 2023
11:47:20am

CSoul Intervention Needed

Home debt is the driver like I said. Texas, Oklahoma, Nebraska have much lower home prices and

lower home ownership for young people because there are fewer kids. Utah's RE prices have skyrocketed in the last five years, that's why it's more of an issue now. You take out home mortgage debt and the picture looks totally different. But it's all driven by youth and family size.

Report problem with this ad

CSoul

Previous username: tsm26
Bio page: CSoul
Joined: Nov 20, 2005
Last login: Jun 17, 2024
Total posts: 67,266 (14,145 FO)

Report problem with this ad

Messages

Author

Time

This is a big part of why Utah appears to be wealthy:

rad dawg

1/20/23 8:59am

Makes sense since we pay 10% of our income to our church. Other states don’t

Dangerous

1/20/23 9:01am

What does that have to do with spending money they don’t have?

1/20/23 9:08am

Wait- you DON'T borrow money to pay tithing?

Courtimedes

1/20/23 9:17am

Nope. If I feel like I’m running out by the end of the month, I take money from

1/20/23 9:18am

RE: Nope. If I feel like I’m running out by the end of the month, I take

Courtimedes

1/20/23 9:19am

if you are going into debt paying tithing, you are budgeting poorly

Pobs

1/20/23 9:10am

It’s not like it’s a surprise to tithe payers that they are going to pay 10%.

garyfan

1/20/23 9:21am

That's just it, though. Thats 10% that can't go to normal living expenses that

RGGeemer

1/20/23 10:30am

Or even drive up the temptation of discretionary debt

NumbersGuy

1/20/23 10:41am

Seems like a weak excuse. Instead of making $100k, you make only $90k, just like

garyfan

1/20/23 11:38am

That brings in the question net vs gross.

JohnnyC

1/20/23 12:37pm

So members don't budget because of tithing??

IronPotato

1/21/23 7:23am

Last time I saw number, roughly 30% of members in Utah pay tithing

AZ Coug

1/21/23 10:12pm

Where did you hear that?

IronPotato

1/22/23 8:58am

My stake pres heard it in a meeting with other SPs (area presidency meeting)

AZ Coug

1/23/23 8:16am

You mean that the 31 year old dude with the new pickup towing the camp trailer

macdizzle

1/20/23 9:02am

No, it's "literally" not... but it's a nice exaggeration.

tarzan15

1/20/23 9:05am

Some are. Especially if you add a boat to the mix.

macdizzle

1/20/23 9:10am

Maybe $100k. Thanks Biden.

IronPotato

1/21/23 7:24am

Can we add multiple expensive vacations each year to that?

1/20/23 9:15am

That’s a good point. We don’t have the expensive toys but we do travel a lot.

macdizzle

1/20/23 9:21am

That doesn't mean anything unless it's age adjusted. Utah is the youngest state in the country.

CSoul

1/20/23 9:02am

I dont think its completely useless.

rad dawg

1/20/23 9:15am

Uh, think about what you just said for a sec. Kids don't stay kids

CSoul

1/20/23 9:43am

I guess I am really not that smart.

rad dawg

1/20/23 10:06am

The reason we are the youngest isn't because of current kids, it's all past kids. Once you are 18 you count in these

CSoul

1/20/23 10:10am

Makes sense but seems some of those assumptions dont hold up.

rad dawg

1/20/23 10:48am

Home debt is the driver like I said. Texas, Oklahoma, Nebraska have much lower home prices and

CSoul

1/20/23 11:47am

I get it but still see gaps.

rad dawg

1/20/23 12:28pm

I know you aren't trying to be combative but you are struggling to understand correlation and that one variable

CSoul

1/20/23 12:58pm

This makes sense if the home ownership rate recently jumped.

rad dawg

1/20/23 4:40pm

Not that it matters a ton. But I would like to see a map for consumer debt

cougarfann888

1/20/23 9:02am

Prices increased everywhere. California and Arizona were both just as bad

rad dawg

1/20/23 9:06am

My uneducated guess would be that the ratio of families/home ownership also play a role.

kccougar

1/20/23 9:08am

That was my first thought. All this shows is which states have a higher ratio of

Boredname Checks Out

1/20/23 9:16am

No doubt. Buying over priced homes is a huge factor here.

rad dawg

1/20/23 9:17am

Plus people with families are more likely to buy a house than a similar aged

1/20/23 9:19am

Sounds like another round of Pres Heber J Grant teaching is coming: get out of

P-Widdy

1/20/23 9:04am

What’s more important than a boat and a toy hauler?!?!?!

pink22

1/20/23 9:05am

Uhh...

Courtimedes

1/20/23 9:18am

Prosperity gospel overrides. This is an unspoken issue in just about every

deejo

1/20/23 9:27am

The map seems to show it’s comparable to other western states.

JuicyJam

1/20/23 9:07am

It seemed that Utah was almost always lower than neighboring states which

StarMan

1/20/23 9:17am

This is part of why we'll see population flow into the Midwest

Gustav

1/20/23 9:08am

Let's not have TOO much population flow, though, ok?

Courtimedes

1/20/23 9:20am

Most of what people attribute to “Utah”

cougarbart

1/20/23 9:09am

My car has to be slightly better than the Johnson's.

RSL

1/20/23 9:09am

All the people with large homes living paycheck to paycheck always surprises me

violetjazz

1/20/23 9:10am

<< Deleted >>

Buffalo

1/20/23 9:15am

Idaho is last? That seems kind of weird.

1/20/23 9:24am

Could have something to do with the prices people paid for houses in Boise the last few years

JollyGreenGiant

1/20/23 9:37am

Watch the map. Turns red the last year. It’s gotta be the housing crisis we are

Don Carlton

1/20/23 9:44am

It’s bad. I knew a guy that had ~$75K in credit card debt, owed his aunt $50K,

kcca

1/20/23 9:26am

Who gives a crap. Yes I bought a big house. But my interest rate is 2 percent.

JAGA97

1/20/23 9:27am

So you can get a HELOC to assist with your business? Interesting

byu1

1/20/23 9:48am

Glad you made it work. Well done.

IronPotato

1/21/23 7:26am

<< Deleted >>

Peter Venkman

1/20/23 9:56am

I'm always surprised at how many toys I see in Utah. Super nice, boats, trailers

1/20/23 10:00am

Utah is the youngest state in the country. Young people have more debt than old

1/20/23 10:01am

Interestingly when you break it down by county Salt Lake County is green

Ben Swife

1/20/23 10:10am

Looks like it'll be time to invest in Utah real estate pretty soon.

IronPotato

1/21/23 7:22am

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad