3% on $500k is a way bigger payment than 18% on $100k

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Jan 27, 2022
7:37:41pm

Kajdin All-American

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Kajdin

Bio page: Kajdin
Joined: Jul 1, 2012
Last login: May 1, 2024
Total posts: 8,104 (31 FO)

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Messages

Author

Time

Everything about today’s economy is better than what Ifaced as a young newlywed.

Lifi

1/27/22 5:29pm

Housing inventory is at an ALL TIME LOW. This isn’t the 70’s or 80’s. Sorry

The_Cuss

1/27/22 5:36pm

^^^^Excuse^^^^

Lifi

1/27/22 5:39pm

Complaining that all of your wealth is tied up in property is also an excuse. Your home should never be considered

unctoothman

1/27/22 5:47pm

Tell that to millions of blue collar Americans who have naught but their homes.

Lifi

1/27/22 5:58pm

Tell that to the tens of millions of blue collar workers who can’t afford homes

valleus

1/27/22 6:00pm

And that's the point there. It's entirely a matter of perspective.

unctoothman

1/27/22 6:29pm

Thank goodness it is not the 70's or 80's. But there are legitimate concerns for both eras.

Wingnut

1/27/22 5:41pm

Yeah housing being one of them. The avg price to income in 2021 is 5.4x

The_Cuss

1/27/22 6:11pm

Go find somebody else to argue with. I am firmly on the side of the guy who survived as an E4 in the Air Force in 1980.

Wingnut

1/27/22 6:13pm

RE: Go find somebody else to argue with. I am firmly on the side of the guy who

The_Cuss

1/28/22 3:14pm

Deleted

Forest Green

1/27/22 5:47pm

Your feelings about this are similar to mine when it comes to student loans. I worked my butt off to pay off

MHOP

1/27/22 5:41pm

LOL, someone with a pension lecturing those of us who have to save 10+%

chago04

1/27/22 5:48pm

You made your choices

Wingnut

1/27/22 5:51pm

Yeah, since EVERYONE is given the same opportunities and choices. LOL

The_Cuss

1/27/22 6:17pm

The Military is probably the least discriminatory career choice. Available to just about anyone.

kccougar

1/27/22 7:48pm

Unless you're fat or have health issues

Wingnut

1/27/22 7:55pm

“But pensions” is a dumb distraction. While there are very few jobs that offer

Abe Froman

1/27/22 7:56pm

Pension?! And you could afford to buy a house as an E4?? You had it good.

valleus

1/27/22 5:54pm

RE: Everything about today’s economy is better than what Ifaced as a young newlywed.

spinner

1/27/22 6:00pm

It's pretty well established that housing costs have skyrocketed while median

jamfam

1/27/22 6:04pm

houses are also much bigger

Gente_Boa

1/27/22 6:07pm

Lol, look at the graph, it’s not just about the price. It’s about the income.

The_Cuss

1/27/22 6:13pm

Exactly this.I shared The same article above. It’s nothing like the 80s. Worse

The_Cuss

1/27/22 6:13pm

There is truth to this. But everyone GLADLY accepted the government handouts

Coug Dude

1/27/22 10:38pm

I generally agree with almost everything you post, but have a few counterpoints

reddead

1/27/22 6:06pm

Thank you! It’s not the same as the 80s and boomers can’t seem to grasp that.

The_Cuss

1/27/22 6:15pm

Great post.

Mitty

1/27/22 6:41pm

That's an excellent point, but concerns about the "millionaire tax" are valid

reddead

1/27/22 10:15pm

Home prices have outpaced incomes but when factoring in interest rates houses do seem to be more affordable now.

NihonCougar

1/27/22 6:06pm

Where did you buy your first home?

LumberCoug

1/27/22 6:11pm

If only it was that simple. Look at home prices vs incomes. Way WORSE now.

The_Cuss

1/27/22 6:16pm

You have to look at payment vs income

teambret

1/27/22 6:48pm

3% on $500k is a way bigger payment than 18% on $100k

Kajdin

1/27/22 7:37pm

You make great points about living within one's means and I applaud your

Mitty

1/27/22 6:52pm

After running the numbers, purchasing a home now is almost identical to 1984 as a % of income.

NihonCougar

1/27/22 7:22pm

Compare 1950-1980 and then 1985 - 2000 to today. 1981-1984

valleus

1/27/22 8:02pm

Here you go. 2022 is obviously a huge jump from 2010-2020 but not drastically different from 1980-2005.

NihonCougar

1/27/22 9:04pm

Affordability however....interest rates in the 80s were outrageous.

CSoul

1/27/22 8:39pm

Mortgage rates were double digit as recently as the 90s.

Abe Froman

1/27/22 9:19pm

Monthly payment as a % of income is.about the same thanks to continued low rates. Hard to think rates stay at a point

unctoothman

1/28/22 7:19am

That’s interesting, especially that there aren’t more dual-income households today. Student loan debt would be one

Odysseus

1/28/22 7:32am

Are you sure on the two-earner household thing?

Mitty

1/28/22 11:18am

Yes, but that doesn't tell the whole story. Women make up a greater % of household income now.

NihonCougar

1/28/22 2:24pm

Huh, I just saw a different graph the other day showing two-income households

Mitty

1/28/22 2:38pm

Yeah it surprised me as well. Let me know if you find something else.

NihonCougar

1/28/22 2:43pm

Don't have hard numbers but just in my extended family alone for example

Mitty

1/28/22 2:56pm

All of my 9 siblings are single income families except the youngest with no kids

BYUFootballisBack

1/28/22 4:07pm

Also all 5 of my wife's siblings are single income families

BYUFootballisBack

1/28/22 4:07pm

I have 6 siblings, all of us are married. 3/7 are single income families.

The_Cuss

1/28/22 8:44pm

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