Why Americans Can’t Find Starter Homes

[@coolguy5555551]

Both entry-level homes and entry-level jobs are disappearing from the US.

[@MrRez86]

Cars too..😂

[@vicepresidentmikepence889]

WHY IN THE WORLD do you need an entry level home??????

[@rickyayy]

Will never see entry level again, you either got it or you don't. No middle ground.

[@28ebdh3udnav]

Entry level jobs aren't disappearing necessarily, they just want you to have 5 years as experience by the age of 16

[@TrillNicca187]

​@@28ebdh3udnav don't forgot you must work for minimum wages too! While the companies & lazy desk bot ceos have more money than they can spend!

[@The.Nasty.]

As a contractor in the construction field, I noticed that I go to a lot of newly built homes in new neighborhoods that are being bought up by upper-middle class retirees to rent out long term before the paint is even dry. Young, new families are competing with out of state millionaires who want their 4th or 5th property.

[@VilliageSquidiot]

I used to think it didn't matter much if people had more than one property but now that I'm becoming more aware of the disparity between the wealthy and your average Joe, it's quite upsetting. You shouldn't have to pick up and leave everything you know to go to a remote area to get a decent price on housing. That's deeply isolating and will destroy communities and families. We have problems with a lack of community and stability for the regular person now. It's only gonna get worse.

[@ft9kop]

On my parent's block, the homes are being bought by middle class suburban landlords to rent. These are small workforce rowhomes built in 1930. The homes typically sell for 100k to 150k depending on condition

[@25-8]

how tf is this even allowed smdh

[@james2042]

​@VilliageSquidiot when enough people are forced to do that it spawns a new town center. Where I live there's a major major development that was built with several hundred condos. This in 2018 was just fields. Every single condo is filled, houses are also still full. Where did the people come from? They came from the overcrowded city that was too expensive to live in. But the condos were very expensive and now that they all sold, it dragged up prices in the area for condos and homes

[@deutscherfischer55]

I’d be a lot more worried about corporations like Progress Residential that owns 85,000 homes.

[@bryan5213]

It honestly feels like America has abandoned it's young people.

[@tomnook1690]

It's a boomer nation

[@KathyM-vr5tn]

It hasn't done a lot for our seniors either. To live in a senior community is over $2000 a month. Absurd! 750 sq. feet or less, more $$ if you want a larger apartment.

[@TheREALOC1972]

No, it's that Young People don't want Starter Homes anymore. A Starter home is 800-1000 sq feet, they want 3500 sq feet McMansions for them their spouse, their 1 kid and the dog. My brother owns a Construction/Real Estate company that buys houses, refurbs them and flips them and he has all but stopped looking at houses under 2000 sq feet because they are so hard to get rid of and when he does he's lucky to break even on them. He owns an entire block of 800-1000 sq feet houses, every house on each side, that he has to rent out to college kids because he can't sell them because noone wants them because "they are so small". That's why noone builds new houses that size, they are too hard to sell,

[@manifesttruth7645]

They have

[@lopoa126]

@@KathyM-vr5tn almost like right wing trickle down economics is a failure

[@MrHav1k]

We've talked this issue to death and yet nothing is being done. Sad.

[@UnHellTowers]

Yup

[@francismarion6400]

We voted to deport.

[@janetmartin9372]

You are welcome to build a small home. They are not cheap either.

[@sidewalkid]

@@MrHav1k stop commenting and get to work!

[@Ja50nkAt]

Why would politicians put laws in place to decrease the price of the asset they own?

[@zackfair711]

The moment people saw homes as an investment instead of a basic human need was the moment people lost their chance in owning one.

[@SVmathfarmer]

True. I invest in homes 😢

[@monke4070]

Yep, homes are actually not that great of an investment. Homes should be just a place to live and investments from elsewhere.

[@marcelcicort9671]

Greed

[@lordfarquad5698]

The moment boomers* saw homes as an investment, all hope was lost for future generations*

[@hondainsight421]

Good luck trying to convince anyone that a house was meant to be shelter and not an investment. Historically it was a shelter until the early 1980s and no one seems to realize this and then become Nimbys to protect true "investment"

[@demisemedia]

Crazy how’s there’s a “shortage” for almost everything now. Shortage of homes. Shortage of population. Shortage of food. Shortage of supply. My gf and I both have excellent credit scores, no college debt, no credit card debt and we were barely able to qualify for our first home October of 2024. It’s brutal out here people..

[@jibberjabber-fm6pb]

its a fabricated shortage

[@tsuriitsurii]

there are plenty of single family residences that have been mass purchased by investment firms (some overseas ones too, blackrock has a huge Canadian presence too) and then rented at exorbitant amount, which are dictated by industry software that regulate the price nationally. This has been happening for a few years now. The lack of supply is artificial, the people are being squeezed dry.

[@demisemedia]

I agree with that! Honestly, this housing shortage is probably a manipulation to get people to pay more. It’s all artificial. My realtor explained to me that mortgages basically pay into retirement funds and other investments for bakers. And we all know how these bankers and investors are.. scum! 😊

[@demisemedia]

Bankers* not “bakers” 🧑🏻‍🍳 lol

[@info781]

Life has never been easy, there are more high paying jobs now more money around, drives prices up.

[@AKAAAK]

Starter homes are now tents on sidewalks.

[@ryanwalters6184]

Starter car = starter home 😂

[@AKAAAK]

@ryanwalters6184 = starter tent

[@Beastzeus12]

Lol

[@purplehayes33]

Nailed it 😂

[@AKAAAK]

@@ryanwalters6184 starter car = luxury home.

[@MangosInTrees]

Don’t forget a huge portion of new homes increasingly have HOAs which adds more unnecessary costs and often are just ways for corporations to milk consumers even more

[@Noodlepunk]

What doe HOAs even do?

[@davidminutella]

@@Noodlepunkensures Randy living next door isn’t able to park his oil-leaking, rusted Camaro on cinderblocks in his front yard and the pontoon boat he bought off Facebook marketplace that he “plans on fixin up” from living in your parking spot across the street.

[@theneonpython]

​@@davidminutella not just that. Many HOAs claim to maintain parking, provide communal areas like parks and pools, etc... but never actually follow through on those

[@davidminutella]

@ yeah my comment wasn't an exhaustive list, just an example

[@chrisrohloff4375]

Different HOAs have different rules. For my neighborhood, ours exist only to periodically maintain the roads because the County (we are unincorporated) wont do it. Our costs are quite low as well because we don’t tell owners what they can and can’t do with their property.

[@eli6394]

Why are there so many comments blaming the younger generation for wanting to live outside their means?? I have a great job, drive a 34 year old car, and live with family to save money for a house. I’m saving as much as I can but it is basically impossible to buy a house without dual income now. TIMES HAVE CHANGED! My parents bought their first 2000 sqft house off a single blue collar income with three kids at the age of 24. That is IMPOSSIBLE now.

[@DaveVoyles]

Outside of the 1950s, it’s always been that way.

[@eli6394]

@ My parents bought their first home in the mid 80s.

[@TheREALOC1972]

Because YOU are the exception. the reason they aren't building 800-1000 sq foot house anymore is because the younger adults don't want that, they want the 3500 McMansion for them their spouse , their 1 kid and a dog from the flip at 19-20 years old. They aren't willing to build up to that 3500 mansion they want it at 20 years old. My brother owns a construction/real estate company that buys houses , refurbs then flips them and he won't even look at a house if it's under 2000 sq feet because they are so hard to get rid of once they are done and when they are he's lucky to break even on it because you have to find that 1 person who just happens to want something that small. Why would you build a house you can't sell?

[@lopoa126]

@@TheREALOC1972 No. Just no. Normal people don't want McMansions. That is just weird right wing propaganda.

[@lopoa126]

@@DaveVoyles My grandpa had seven siblings. His dad worked at a factory. Stay at home mom. Yet they owned their home.

[@MaryLopez-em3rc]

These houses were considered starter homes when they were built in 1970 for $25k, 1400 sq ft ranch, no ac. Now they’re $800k

[@ChengJiaStat]

Yup my 1400 sqft condo cost me 900k. 😢

[@allenmondesir]

@@ChengJiaStatare you up north or on the west coast? Just curious…

[@grobble8954]

Stop the hyperbolic lies. The median new home is only 400K. There are plenty of starter homes available, they are just not in the areas people want to live. They aren't even necessarily bad areas, We have bred a generation of entitled people that all think they should start at a high level, while most of that don't have the intelligence, skills and thus income to support the life style they want to live. They overspend, put things on credit and the financial service industry is more than happy to prey on their fiscal stupidity..ie...carrying balances on 25 or 30% credit cards, buying cars with 9% int rates finances for 84 or 96 months, there are now even 120 month car loans(only an absolute moron would do that)

[@Corgiking521]

@@allenmondesirit has to be in a VHOL city to be that expensive.

[@usr-qpwyg126]

@@allenmondesirmaybe in Cali.

[@NekoBoyOfficial]

I don't want a townhouse, I want a detached house, but I also don't need more than 1,000 square feet. Just let people buy small houses again.

[@brandonrico6223]

I wouldn't mind living in a townhouse (if they were affordable)

[@LordVader5738]

We need more simple, 1 to 2 bedroom, 1 bathroom kind of homes.

[@OBsurdityTV]

Why would they make houses on limited land for 1 person? When there’s families who can afford larger houses?

[@CoryPchajek]

And stop calling small houses “starter homes”. It’s an awful bloody term invented by marketers! Just as bad as “diamonds are a women’s best friend”.

[@MrSteeDoo]

Nothing is stopping you from building a small house. Unless of course you are looking for a free house because you are broke.

[@face2lune]

Something they don’t talk about is how over 25% of new home were actually bought by investors, not people looking to live there. Even if boomers sell all the houses or more home becomes available, the problem wont go away, as wealthy investors will still buy up those supply of houses. This will keep the houses prices up.

[@coolben854]

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalize.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

[@nyreggie-isb23]

I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either digital currency and stocks.

[@Aimee966]

I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?

[@face2lune]

I've always delegated my investment decisions to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.

[@Aimee966]

I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

[@alexhigginbotham8635]

It needs to be made illegal for corporations to purchase single family homes. Period.

[@magesalmanac6424]

Neither party has the spine to address the issue

[@Dis2good]

Agree 💯!!!!

[@dissident112]

They are both pigs. That's why the democrats lost. They don't bring any solutions only more corruption.

[@grimsonforce7504]

Don't be mad because corporations beat you at your own game. You did it to yourselves. LL airbnb just as guilty

[@ItsRyanStudios]

This is only part of the problem. Private equity only owns 3% of single family homes. The biggest problem is zoning laws- our LOCAL GOVERNMENTS are the main cause of the housing crisis.

[@shaymalchione809]

It’s not adding up that people are having less kids but yet these houses are being built bigger & bigger🤔We don’t need McMansions we need practical & affordable.

[@magesalmanac6424]

Preach 👏

[@info781]

It makes total sense , the less kids you have the more money you can spend on a house. There are lots of people with money.

[@mrsevergreentree]

Nope...it's a set up..they want you to invest on what doesn't matter and keep up with the Kardashian​@@info781

[@xSayPleasex]

@@info781 But why do you need 4 bedrooms with NO kids? The answer is still to build smaller homes and the people can splurge on vacations or w/e else.

[@TheREALOC1972]

But you won't buy practical and affordable.......... Young adults today don't want a 800-1000 sq foot starter home, they want a 3500 sq foot McMansion home from the flip for them, their spouse, their 1 kid and the dog.......... My brother owns a construction/real Estate company that flips houses and he won't even look at a house that's less than 2000 sq feet because he can't sell them once they are done and if he does he's lucky to break even on it. Young Adults NEED Practical and affordable but they don't WANT and won't buy Practical and affordable, they aren't willing to buy a starter home, and upgrade through time, they want to start at the finish line.

[@jdc4483]

This is devastating for communities. Homeownership isn’t just a “boomer” thing. It’s something that ties people to a community where they have an invested and vested interest.

[@Gobble_de_Goop]

Home equity is also the only path to financial stability and eventually wealth. Not allowing youngsters that opportunity is evil.

[@TheREALOC1972]

@@Gobble_de_Goop It's not that they aren't afforded the opportunity to it, they don't want it, a starter home is 800-1000 sq feet, they don't want something "That Small". They don't want a 800-1000 sq foot starter home and live there for 5 years, then upgrade to a 1200-1400 house and live in it for 5 years and then upgrade to a 1600-1800 sq foot house and live in it for 5 years then upgrade to 2500-3000 sq foot. They want the 3000 sq foot house from the flip at 25 years old, they want to start at the finish line. My brother owns a Construction/Real Estate company that buys old houses , refurbs them and sells them and won't even look at a house unless it's atleast 1500 sq feet because he can't get rid of them once they are done and when he does he's lucky to break even.

[@citizencoy4393]

When ur constantly on the move and being paid crumbs u r easier to control.

[@HawaiianKong]

I was able to buy a 1200 sq ft single family house on 1/3 acre for $112k in 2007 at just 23 years old on a $40k salary. Sold that house years ago and wasn’t able to buy another house until this year (2024) at 40, well after establishing a 6-figure income. Something is definitely broken

[@sheffield99]

I'm in New Zealand and we are having the same issue. I bought my house in 2012 for $338,000 NZD. My house is now worth over $200,000 more. I want to sell but worry about not getting back into home ownership.

[@loryndabenson2118]

At least you got to buy a house. I don't think I'll ever own one at this rate.

[@davidcox3076]

What was the interest rate on your first mortgage? if it's much lower than current rates, there's another reason you couldn't buy again. My parents bought new in '77 when interest rates were sky-high. But the low prices then more than made up for it. And, yes, the system is broken.

[@irenmolnar221]

any change I can stay in your garage or backyard???? homeless

[@misterpi3.14]

Sounds very similar to my situation, except I got lucky and sold in Dec 2019 and used the proceeds as a down payment on an upgrade.

[@TryingToDoBetter01]

They admit affordability is a huge issue, but no one is doing anything about it.

[@timothykelly5588]

overpopulation

[@ItsRyanStudios]

The "they" is us and our parents though. Zoning laws are created by the people in the very communities we live in.

[@info781]

We need more apartments near bus routes to drive rents down

[@MrSteeDoo]

Who is responsible for fixing it?

[@info781]

@@MrSteeDoo The government must work with developers who want to build apartments to get the approvals in place in a timely manner. The problem is that neighbors will push back as apartments can overfill local schools and take the on street parking. This is where the government has to convince people that if rents are to go down we have to have more density. Right now it is easier and more lucrative for developers to build large houses very far out, which will never solve the problem.

[@WeeabooShipPoster]

Its not that there isnt enough supply or stock of starter homes, its that corporations are buying 3/4 of them to rent out. And this is driving the prices of homes and the cost of rent to ludicrous highs

[@Dmd265]

20 million illegal immigrants needing a place to live doesn’t help either.

[@DerickEmhoff]

Not just corporations. All the John Smiths and Pablo Sanchezes down the street buy them up and rent them out. An old couple across the street from me own 3 houses and rents two of them out.

[@japhalpha]

@@DerickEmhoffexactly!

[@LastParagon]

No there is a shortage of starter homes in the towns/cities where there are lots of jobs. We don't build enough housing. This is really obvious in the data. We built 1 housing unit per 2 new jobs in most cities.That's always going to lead to a shortage.

[@BigJohn-hb4sm]

@@DerickEmhoff And everyone who wants to invest has the dream about investing into real estate. Owning a home isn’t “home sweet home” anymore, it’s a business. It’s now how can this house make me money?

[@tj8759]

It started with house flippers. Then corporate landlords. Then TikTok real estate “entrepreneurs”. Now private equity, foreign interests, and Blackrock are buying what is left.

[@Chris-os5zd]

This is one of the issues everyone ignores. House flippers serve a purpose, but they have unfortunately become so prevalent that it’s nearly impossible for individual buyers to purchase a fixer uppers as their primary residence

[@dissident112]

It started with QE which is welfare for the rich. All they care about is pumping stock prices to stratospheric valuations and calling it a "healthy economy."

[@grimsonforce7504]

Exactly that's why i have little sympanthy it started with private before it went corporate. Not to mention buying a starter then sell for bigger house, before down sizing again. Wasteful.

[@AnonYmous-mw5lc]

yes, the boomer flippers back before the Great Recession did us all in

[@carlosbarragan6729]

I feel like a tax on houses that ppl own but dont live at would really help balance prices

[@keylanph]

Every starter home in my area has been purchased by investors, they paint them white, put in CVP flooring and some crappy appliances and double the price or put them on the rental market. Hoke’s that were $250 in 2020 are now $550 in 2025. We need to completely remove the 1031 exchange for any residence that isn’t the primary home.

[@mvpfocus]

Hokes?

[@justrandomthings319]

​@@mvpfocus*homes Probably a typo.

[@mvpfocus]

@@justrandomthings319 Sure. I was just wondering how the comment had already been "edited," whilst omitting that critical edit.

[@slamimeat2663]

Exactly. Same in this area. They buy it, paint it then list it 2 months later for about $150k more

[@TrevorWebb-ck2yv]

@@slamimeat2663 And if no one is buying the home, they delist and relist a month later for $50K more lol

[@geisaune793]

Same with cars. It’s much more difficult to find cheap “starter” cars than ever before

[@asjasj123]

I can understand why birth rate is dropping. Young generation cannot afford to buy a house.

[@jer1776]

Way too many people still believe it is because of personal choice.

[@jpoppinga8417]

Way too many people have unrealistic standards. A mobile home is a house and unless your making less than minimum wage you can afford one. Now you may not * want * to live in a mobile home for many reasons. It is still a home that you (probably) can afford. Key word though is *want.* To be fair I would not want to live in a mobile home either. But I'm not the one complaining that home ownership is out of my budget. Show up for work everyday your scheduled, lay off the booze, the weed, the parties. Get rid of the car that costs 1/2 of your monthly income and the phone that costs the price of good used car and you too can afford a house. I know because I did it. I lived three winters in a camper in Northern Minn. Daytime highs of -5F for a month and a 1/2 straight. -35F at night sometimes -45f Dead broke. I didn't have $5 to my name. A year ago I bought a house on 5 acres. And I'm a millennial. Don't tell me it can't be done.

[@dommyjg]

@@jpoppinga8417 according to your logic anyone who wants to purchase a home should live like they're homeless for a few years . Live out of a camper. Very practical.. great advice. Also implying that the reason people can't afford $500k homes is because they smoke weed and drink alcohol sounds more like a personal problem of yours.

[@biblesforbreakfast]

What no they're just lazy 🙄. If they work real hard they can get a minimum wage job after a few million dollars of student debt. Then they can buy a multi-million dollar house. Then they just need to live to 3,000 years old to pay it all off and have 50 kids. You see it's all quite doable. Signed me Elon musk.

[@jpoppinga8417]

​@@biblesforbreakfast Student loan debt for a minimum wage job is your own fault. Someone didn't do their homework before signing up for classes (and student debt)

[@travelbug69]

The barrier is that when someone is an apartment they are unable to pay rent and save for a home. Rent, car payments, high auto insurance, credit card debt, and many with student loans are such a barrier to homeownership.

[@buckeyedav1]

100% agree and if you try to get a roommate so you can both start saving the landlord will up your rent price. It's heartbreaking what they are doing to the younger generation. I own my home and it is Willed to a young friend who has 3 boys when my time ends one of the boys will get mine and another boy will get his Grandma's who is my best friend. So our homes will never be on the market paying it forward to our next generation. Anna In Ohio

[@travelbug69]

@ ❤️ Anna. how thoughtful of you. That’s an incredible gift and such a rare thing these days. My husband and I have a Townhome that we bought right out of the Great Recession. We paid nothing for it and now it’s worth over $800,000 in the city of Atlanta. We don’t need much and have never wanted much to be comfortable. You’ve inspired me to do some thinking about our next steps with our townhouse. Honestly, I would love a small house of no more than 1100 ft.² in the Olympic Peninsula of Washington State. Live cheap and be happy is our goal.

[@bluestreak5907]

Use public transportation! Americans complain too much about not being able to afford housing but put most of their money on car payments and maintenance

[@unconventionalideas5683]

Which is why most young folk today simply eschew the car payment. Something like three in four members totally forego a car or even learning how to drive in the first place, which is almost as prevalent now among young adults at least as smoking cigarettes was among the general public in 1968, the year that tabulation of that statistic began.

[@jimjohnson4072]

Yup!!! Just take the public transportation! Live in the public housing! Eat from the public bread lines! Freedom is too expensive.. Let the government provide all! 🙏🏼

[@austinbar266]

In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon. The prices of homes are really quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways?

[@rogerwheelers4322]

Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.

[@joshbarney114]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

[@FabioOdelega876]

Inflation is around 6.5% here in the UK, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?

[@joshbarney114]

I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky” for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@FabioOdelega876]

Thank you for this tip. it was easy to find your coach. and I conducted thorough research on her credentials before scheduling a call with her. Based on her résumé, she appears to possess a high level of proficiency, and I am grateful for the opportunity to speak with her.

[@weissel1]

There are lots of "starter" condos that are available in my area, and on the surface, I'm like "Oh yea, I can afford that--I'm paying almost $1900 in rent, I can totally afford a mortgage that's around the same"...then I look and see what the flipping HOA fee is, and it's always another $450-600/month. Not to mention, all the new construction in my town is massive McMansions or "high end" townhouses that start around $600K and then have HOA fees on top of them. I don't want to move further away from work--right now I live only about 15 miles from work, but the commute is about an hour each direction--and honestly, doing so wouldn't save me much in home prices. At this point, I feel like I will never be able to afford to own.

[@zxcvdad]

Agreed. When I bought a home back in 2023, the price of a condo/town house was notably lower than SFH. However, once I added on the cost of an HOA, its the same price as a starter home with the caveat of the HOA increasing over time.

[@dontknow2]

Right HOA 400 to 500 is crazy that is a car payment!!

[@Corgiking521]

@@dontknow2that’s standard for most condos. Building maintenance and staff is expensive. Major building repairs could be 100s of thousands. If the building doesn’t have the reserves to pay then owners are hit with a special assessment for all of the cost upfront.

[@seanthe100]

Gotta be Florida

[@User-CT-55555]

@@Corgiking521with the amount of profit they’re getting, they DONT NEED THE HOA fees. Thats what everyone is basically saying so you understand. Builders aren’t the ones making these homes expensive. Land lords, and real estate agents

[@DerekDAngel]

Now I see why so many Americans are starting to live out of RV's, campers, and converted buses & vans. With how expensive a mortgage & rising interest is, plus the rise in property tax and homeowner's insurance premiums... it's insane to even think of buying a new home or even a pre-existing home for that matter.

[@ryanwalters6184]

Plus if you need to evacuate. I'm just waiting for more RV boat combos like they had in the 60s to come out that are EV hybrids. Having a EV battery in a RV is so awesome and Now you add starlink. You can really live off the grid

[@AKAAAK]

Yup, most Americans are living outside of their means because they want to have the biggest and best, whether it be a house, car, clothes, etc. Trying to impress the next person who is just as poor as them

[@jbone9900]

​@@AKAAAK or we just want to live life and not be third world.

[@mvpfocus]

@akaak That may have been the mentality of the past, but now people are just trying to keep their heads above water... and the squeeze is on.

[@AKAAAK]

@jbone9900 That's not living life, that's spending beyond your means. Has nothing to do with developing country status......third world is old nomenclature. Wife and I live in the Philippines now in our 50s and living life to the fullest. We've got a nice home, car, spend time traveling every few months, spend lots of time wife my wifes family for holidays/birthdays, we go out to eat, and hit the movie theater periodically. Everything we had in the US but at 1/4 the cost and early retirement while everyone else struggles into their 70s. You do you though.

[@pluggy86]

In 2020 my son asked me to help him buy a starter home as an investment. I reluctantly agreed. To make a long story short, we ended up living there. It's really an ender home since we're a retiree couple. Turns out it's perfect for our needs. I feel so fortunate.

[@Mattallla]

Why does something so basic need to be so difficult

[@sweetnaomi56]

Greed

[@qwite9309]

Zoning, we don’t let people build the variety of homes to be built. It’s in the videos first minutes

[@Phoenix88203]

@@qwite9309 You mean Euclidean zoning? Want to know where that came from? Euclid, Ohio. Guess how much a 3 bedroom house there costs? $140k. It’s not zoning. It’s supply and demand and nobody wants a Section 8 complex built next to them.

[@TAHIRMAQSOOD15]

Blame the rich white men!

[@natedogg890]

I used to think Capitalism was the best system for regular people... Then I travelled all around Eastern Europe and saw how great the communist era housing actually was

[@t206kid]

Love my starter home. Bought it in 2019 for $165k. 1,300 sq feet, 3 bed, 2 bath, on a third of an acre in a nice area of Louisville. New houses going up in my neighborhood now are all over 2,200 sq feet and minimum $375k. I have the smallest and oldest (built in 1999) home in the neighborhood and i feel like im the luckiest person in the area

[@buckeyedav1]

You are lucky they are at least building homes and not high rise apartment buildings. My area they passed legislation without a vote ( City Hall) to build High Rise Apartments within 125 square feet of my little single story ranch house. My whole area are small ranch homes built in the late 40's and 50's and they came in and changed the Zoning Laws to accommodate these high rise apartments 6 to 8 stories high with no parking spaces. Anna In Ohio

[@stayathomemarine]

Hello neighbor! Shelbyville here 😁

[@sheneedsme]

$375 k for a new construction house that size is a bargain. That is today’s starter house.

[@miguelcardoso1903]

@@buckeyedav1 That's what is needed to solve the housing crisis. High rise apartments are way more space efficient than single family homes, so cheaper land costs

[@Dis2good]

Because you are!

[@tpp4007]

The houses around my neighborhood sells for $850K-$1 million. I got it about 20 years ago for $230K. I can’t even imagine moving and buying another house at this age. I feel so bad for the younger generation. Borrowing from a bank for a $800K loan, you gonna pay at least $10K a month, and your salary gotta be 4 times the month of your mortgage rate.

[@lopoa126]

"Affordable starter homes starting at $700k" signs are all over my town. Rentals are being advertised for homes that aren't even built yet, $3k/month for a basic two bedroom. HUH?

[@00_UU]

@@lopoa126 3k for 2 bedroom is amazing low price. 3k only gets a studio in San Diego

[@AmandaHugenkiss2915]

@@tpp4007 houses appreciating has always been there. Millions upon millions bought somewhere, stayed for decades, and knew they could not afford to buy that house again. Which is why when you downsize, you move to a low cost area. Why downsize to a house a mile away that costs the same as yours? Defies logic. Go somewhere cheap and bank all that equity you earned.

[@DogDongDotCom]

Got my first in 2010 a 950 SQ ft house for $300k, and each year I would just take the equity out and buy a new home with it until 2020. It was scary, but over that time I was able to sell 4 of the homes to pay off the remaining 6. This is in the SGV (valley 10 miles from DTLA) so for some reason demand is still crazy. Now that CA has allow us to build a ADU or up to 3 units on one lot, my first 950 sq ft home on a big lot is worth well over $4m which is crazy to me. I am not a real estate person or some trust fund baby, just a person who asked tons of questions and wanted to make a life for his family. It will be hard, but it requires tons of luck, no need to buy some class from a social media person, just ask and learn and best of luck to everybody.

[@DanielRicany]

No such thing as starter homes anymore. This generation will be lucky to get a “starter home” as their forever home, if they can ever even get their hands on one. In 2022, I paid about $260-270k for 1064 sq ft, 3 bed 1.5 bath with a garage on a 1/4 acre, and that’s after I rehabbed the entire thing myself. I’m 29 and I bought it with zero plans on ever upgrading from it. As far as I’m concerned, short of a miracle happening, this is where I’ll stay. And if I don’t stay here, I’ll likely move laterally across instead of going up. This is it and I really don’t have the drive or motivation to do any better. Not worth the effort, nor is it realistic anyway.

[@00_UU]

and there is a risk of getting divorced with that home going to your ex while also paying her alimony and child support. And then they wonder why birth rate is so low. Getting married is literally a risk of being homeless just because she changed her mind

[@zunedog31]

How many variations of this video do we need 😂

[@adgg8250]

Facts 😂

[@sunnyy1322]

For reals! -.-

[@SVmathfarmer]

Many😂😂😂

[@brianstaley6391]

It's a predicament, we can all talk about the housing crisis (among other things) but we're powerless to change anything. The levers of power are with the people with all the money, it doesn't matter that everyone knows.

[@bnbcraft6666]

When houses become more affordable

[@charc116]

Yep. 36 and have never purchased a home. Grew up in a low income home, went to college, paid off my student loans. My husband and I are professionals. 800+ credit scores, no debt, and saved up our money for several years, we live in a modest rental. We made one “crazy” financial decision and that was to have 2 kids. The only homes we can afford without being house poor are run-down, small homes in terrible school districts. Can’t win I guess.

[@jflynn495]

If we made a law that private equity can't buy homes or are taxed at a very high rate if they do, we would be able to help this instead of just talking about it. It's the rich getting richer and everyone else getting screwed

[@dissident112]

Plutocracy. Pigs feeding pigs with central bank magic wands.

[@grimsonforce7504]

Don't blame corporations blame private LLS too. Airbnbs. They started it corporations were just better at it. As well as consumerist Americans.

[@ItsRyanStudios]

No It's important to understand the real data. Private equity only owns 3% of single family homes. The biggest problem is zoning laws- our LOCAL GOVERNMENTS are the main cause of the housing crisis.

[@info781]

Wrong, we need to build more apartments near bus routes to drive rents down

[@info781]

​@@ItsRyanStudiosI like zoning to keep industrial away but we need more apartments.

[@naveedrehman2987]

Starters homes cost half a million or more in most us cities. Not much of a starter home:(

[@Phoenix88203]

So, don’t start there? Start in Ohio where you can buy a whole house for the price of a nice car. When you’re ready to move to the big cities, do so.

[@stephanied1028]

@@Phoenix88203The question is can they find a job in their field in Ohio? If you’re an offshore employee, not much opportunity in Ohio. Someone with that experience would need to live close to the coast which is expensive.

[@Phoenix88203]

@@stephanied1028 I’d suggest a different career path then or accepting that those career paths aren’t going to offer the same standard of living as other jobs if living in a coastal region is required.

[@marcelrodriguez2067]

​@@Phoenix88203thats easier said then done dude. There is no way im finding a union job like the one i have working in nyc with the same pay in ohio 😂

[@Phoenix88203]

@@marcelrodriguez2067 At the end of the day, it’s not what you earn, it’s what you keep. Live wherever you want, it’s your life, after all, but if you’re only saving $5000 a year in NYC, it’s probably to your benefit to take a lower paying job in Ohio that lets you save $10,000 a year.

[@ShadoeLandman]

Corporations and rich landlords buy houses up in cash. Banks won’t allow mortgages for small or cheap homes. Too many and too powerful HOAs. Boomers are renting out the homes they move out of instead of selling them when they downsize. Employment isn’t reliable. Employers want disposable slaves and get rid of employees if it will save money for a month and employees know that. Wages are too low. Food, insurance, utilities, and healthcare are too much of income. Vehicles are too expensive for people to buy and insure them so they can commute. No one wants smaller homes, multifamily homes, cheaper homes, younger people, etc. in their neighborhoods.

[@lopoa126]

HOAs really have nothing to do with it.

[@00_UU]

Zoning laws. Oversized green lawns extremely expensive to maintain. Oversized suburban roads and infrastructure only possible with growing new construction and rising prices since suburbs are financially insolvent. People believing that multi-family homes will get run down, but they work out fine in Europe and Asia. Walking and public transportation not even possible since stroad design is too stretched out.

[@vooteimer1234]

I love how CNBC only asks questions its own audience already knows the answer to.

[@1972Ray]

Thats because their audience doesn't investigate themselves.. Affordability varies by state, and there are several states with very affordable homes. But that kills the narrative.

[@biblesforbreakfast]

Now if only some other news stations would play this maybe we wouldn't have a bunch of freaking billionaires for presidents. President Elon and President Trump. Both eating the poor. It's time to eat the rich.

[@DaisukeFlamedramon]

But it's own audience doesn't know this. As most of their audience is older and in the boomer generation. Most of them still think that the problem is "Just need to work harder".

[@zrunner800]

@@1972Ray bro I was raised in Colorado, where my engineering job is, I’m not moving to BFE Oklahoma, or mobile Alabama. My family, friends, job are all here, moving to a cheaper place is an asinine solution to this problem. I’m not a gas station clerk, I can’t live wherever and do the same job. Why are you people such callous pedants? Who are you serving? I love that you can look at a national problem caused by the capitalist oligarchs stealing all the wealth, and respond with (paraphrase) “you stupid libs, you should just move to a the outskirts of an oil patch in a sun blasted crap hole like west Texas”

[@hauntedshadowslegacy2826]

@@1972Ray zrunner has good points. Here's a few more: Which 'affordable' states also have jobs? Which 'affordable' states also have public transit? Which 'affordable' states have walkable neighborhoods for people who can't drive? Which 'affordable' states also protect human rights? Get back to me on that, GenXer.

[@jacobonader1926]

My house is considered a starter home. But it no longer has a starter home price it's insane!.

[@davidcox3076]

It's really pointless to define "starter home" on square footage alone. If it's 800 sq. ft. but the price tag is $600,000, it's no longer a starter home.

[@jacobonader1926]

@davidcox3076 agree I wouldn't buy my house again at the current price.

[@TOhara-eb2lp]

But you own it be happy to be on the right side of the equation.

[@user9518-bp3qs]

@@davidcox3076$600k is definitely not a starter home. In texas there’s luxury building companies that start at around $360k. At least where i’m at a starter home is around $200k

[@SteveRudzinski]

Because the costs of what would be a starter home have exploded to what a mid-level home used to be, relatively speaking. I bought my current home in 2017 for $85k, even then I knew it was likely my only home for life. Today the home is already valued at $170k when I've done nothing to it AND my/my wife's salary sure didn't keep the same pace. If I wanted to buy my current cheap affordable home today I literally would not be able to afford it. I'm only a home owner because I had a hunch in 2017 and got lucky.

[@ibfbf6288]

What is your state?

[@mallorymyers7525]

Where in the country did you buy a habitable house for under 100k? I'm super curious.

[@SteveRudzinski]

@@mallorymyers7525 There were always A TON of very nice homes under 100k around the Pittsburgh area and it was similar in much of the Midwest while also being pretty close to cities. Again, this was in 2017. Things are different NOW everywhere. But this wasn't uncommon in much of the country.

[@DogDongDotCom]

Holy cow that is a great price, if you were to sell can you really upgrade within your area?

[@HelloAutoCarz]

Because condos and townhomes are as expensive as single family homes. Especially when you add HOA

[@ChipsMcClive]

Seniors, watch out for *reverse mortgages.* It’s a way for a bank to attach debt to your house, basically guaranteeing the bank can take or foreclose on it when the residents leave (one way or another).

[@Kushert]

New townhomes in Delaware are 500-555k and new houses closer to 650k. My 900 sq. ft. house is 300k bought for 150k 10 years ago. You're lucky to find anything under 400k anywhere here.

[@jimfarmer7811]

I'm trying to get a small retirement home built right now. As soon as the contracters learn I want a 800sq ft home I they ghost me.

[@chalkylover]

Yeah… no money in it

[@lt3074]

Wow! Shameful!

[@mvpfocus]

Contractors; and 800 sq. feet is called a condo. If you want "tiny," you can search for that or do it yourself.

[@jimfarmer7811]

@@mvpfocus I've built 2 houses in my life and did may remodels. Since I couldn't find a contractor I passed the contractor test and will be building the house this summer. screw the city for trying to force me to hire a contractor when no one wants to build a house for me.

[@grimsonforce7504]

Because it's not profitable you Americans dont have houses you live investments. Its you're own fault.

[@johnh4863]

Same where I live in NJ. The only cheap or reasonable homes are ones in 55 plus communities or foreclosures and contractors or real estate agents buy them to flip so someone who wants to live there gets priced out. New development housing starts at 5 to 600k. Its either big houses or apartments, condos, etc.

[@Marianela-r3v]

The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that or generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 48.

[@Richmind-ir5zi]

I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.

[@Mitch10bands]

I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too

[@TylerofSc004]

I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.

[@Mitch10bands]

Lauren Christine Campbell is the CFA I work with and im just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.

[@TylerofSc004]

Thank you for the lead. I searched up Lauren and her webpage popped up, and I have sent her an email. I hope she gets back to me soon. Cheers!

[@ironman2326]

Starter homes here in Kentucky are like $220-250k. And they're not even turn key oftentimes.

[@grimsonforce7504]

Same here in rural michigan. Even bare land is expensive.

[@kld70]

What are household incomes like? Do they support that kind of housing outlay? Btw, I’m in rural Pennsylvania and it’s the same. You can’t even find anything until you hit about $250k on Zillow and those all need a lot of renovation. Below that amount and you won’t find anything that isn’t uninhabitable or in an unsafe area.

[@00_UU]

250k is amazing price. Where I live in Florida it used to be that way pre-covid. Now every home is 700k, but finally housing market is crashing. I am so happy seeing it. All those rich old New Yorkers and huge banks are finally getting what they deserve.

[@ironman2326]

@kld70 Median household income is $67,000 a year...I make $83,000 a year and with my wife making $52,000 a year, we had to get an 1100 sq foot townhouse for about $150,000 so that our payment would be below our means. Payment is still $1200 a month, and we bought the rate down to 6.5%.😒

[@NickAbbot.]

Every business entity should be banned from owning any residential properties.

[@dertythegrower]

Bingo. "all cash buyers is up" and we all know who a majority of that is lately

[@AvdMasdey20]

If a house gets foreclosed the bank owns it. How can the bank lend if they can't own?

[@epursimuove1633]

I believe the complete opposite

[@warrentrout]

No more apartments?

[@moshow93]

​@@warrentroutNope. Build small 50.s style ranches and capes.

[@MrHandyDad]

Civil engineer for 35 years here: one thing I have not seen list here is the cost of permitting and gov'ment required improvements. 1. it takes YEARS to permit any large subdivision and ALL cost passed on to new owners. 2. Most city & town want ever home to be a mansion w/ side both side, two quality trees, clubhouse w/ pool. Not to mention OFFSITE IMPROVEMENT, where the builder must upgrade roads, water & sewer, etc... Its a soft tax on the new buyers...

[@davidcox3076]

I was lucky to buy a starter home as my first house. 900 sq. ft., 3 bedroom, slab built. Plenty for me and the cat. But this was 25 years ago. The same house is likely unaffordable now. I was talking to a colleague once about housing. His kids were all grown and grew up in a very nice suburban home. He mentioned that the kids all wanted to live in a similar house. But they never saw the tiny dumps that he and his wife lived in before the kids. It took years for them to move up to a nice place. A mortgage on a McMansion right out of the gate is a recipe for disaster.

[@aaromon43]

i love my 700 sq ft starter home (built in the 1940s).. 2bed 1bath ranch. low property taxes, less to maintain, clean, repair, heat & cool. i have no interest in owning a house 2-3x the size when it's just me living in it. it's sad that homes this size aren't build any longer.

[@nicomyth]

Zoning in my county does not allow a home under 1300sq ft to be built. However there are some small historic homes in the county around 600 sq ft. So basically it is all about tax revenue....

[@jankay8569]

imagine living in a salad dressing. Y'all americans are wild.

[@r.brooks5287]

Average house size here in the UK is 820 sq ft, sounds like yours would fit right in. I rent, one bed one bath terrace about 600 sq ft, just me. I don't know why anyone would want to pay to heat a big house.

[@dcookou]

I have a 730 sq ft build in 1950. 2bd, 1 bath. Inner ring suburb of Detroit. Cheaper to maintain and easier to clean.

[@tycooperaow]

I like how they skip over the fact that reason why most of this is expensive in the first place is because of greed

[@OvisMilitaris]

I would LOVE to sell my 2 bed, 1 bath "starter home." But I can't even afford to buy back my 2 bed, 1 bath "starter home" if I was stupid enough to do that. My job promotions NEVER rose my base pay in a significant way.

[@Mosalino]

6:26 Don't worry about it. Long-term homeowners who want to move out of their starter homes can barely afford to do it. I'm 41 years old, and I've had my house paid off since I was 23. Even with the amount of money I've saved, it is hard for me to spend that amount on a new or newer house when I've been living rent and mortgage-free for so many years. Plus, I cannot stand HOAs. I currently do not have an HOA and more than likely never will in my community, but the rules and restrictions they impose are ridiculous. Plus, I've never met anybody who says, "I love my HOA." I've seen far more complaints than compliments. At the time I'm posting this comment, I ran across how housing has gone up 114%, but our incomes have only gone up 50%. That's why I don't want to move.

[@JoeBlow-tf4cc]

If you've been mortgage free for 18 years, you should be a millionaire.

[@Mosalino]

That would be lovely, but life is often unpredictable, even for kind individuals. Life happens, and owning a home outright doesn't eliminate all challenges.

[@JoeBlow-tf4cc]

@@Mosalino I agree, Im just saying, it eliminated the mortgage payment challenge for 18 years. But I understand, medical expenses alone or taking care of others, can make us poor.

[@Mosalino]

Thanks for the understanding but I can tell you one thing I sure wish the things that went wrong along the way didn't happen because I'd damn sure be a millionaire.

[@JoeBlow-tf4cc]

@@Mosalino YW & I wish you right, the rest of the way.

[@PartScavenger]

Its so bad they couldn't even find stock footage of starter homes

[@celieboo]

I really wish we'd stop calling them "starter homes". That attitude is part of the reason that half of the population cant buy a house period these days. The desire for constant bigger and better is why builders will not even think about building 1200-1800 square foot homes anymore. Those type of homes aren't what people wanted for a couple of decades (they are what they need), so builders stopped building them. Now, those "starter homes" aren't profitable for builders to build.

[@Glassyeyes]

Starter home is the correct terminology. Did it occur to you that the smaller margin from a starter home is the reason why they aren't built. The demand is obviously there. First timers aren't looking for their McMansion, they just want to stop the bleeding with renting. Those already established want the larger homes that coincidentally have higher margins. The starter home crowd has demand but getting approved is difficult. Not the case for the larger home crowd, who have equity and a way larger savings account and can probably pay cash.

[@1972Ray]

"half the population"? No about 65% of Americans live in single family homes. Builders can't make small homes because the cost to build is very high.

[@bonnielovely]

the idea of a “starter home” is a myth. a home should be a viable investment that lasts 50 years or more. if i buy a house at 30 and it lasts 50 years, i’m not then buying a mansion at 80. calling it a “starter home” puts the damage control on the homeowner rather than whoever sold a house with structural issues, bad plumbing, poor electrical etc. saying it’s a “starter” like it’s some pokemon deck that needs booster packs to be a “real home” is asinine. it’s a myth to get people to buy non-viable homes & put the blame on them. all homes should be built for lifelong use

[@mohammedjeffali1076]

All homes should be built well and for many generations, I agree with that. What I think we lack as a society is appropriate housing for the stages of life and what ppl can afford at those stages. For example, if you are in you 60s and you live alone in a mansion and you can afford it, fine. No one should be told they can't live where they want. But what if you have less money to live on? There should be affordable smaller housing that is more specialized and age appropriate without greedy HOAs. Taking a bite out of what people worked hard for. A big old house would be perfect for renting rooms out very cheaply and sharing communal spaces for our youth who are working. A tiny home is perfect for a young healthy couple, it's a great test of their love to share such a space, perhaps a joy for them. It's not an appropriate space for someone with a walker. Or who would have to purge 90% of their life's possessions to live in such a space. Something around 800-1000 square feet is a better fit for a single older person. A 2 or 3 bedroom 1,300-1,500 with a larger yard than cities are wanting to allow these days, is ideal for a married couple with 2 small children. A big house with a smaller yard is perfect for teens and mid- life couples hosting family events and providing end of life care. Finally, being 54 I've begun to take a peek at what's available for seniors and it's all a money grab.

[@JoeBlow-tf4cc]

I bought my finisher home in 2004 for 129,000. Its now worth almost 300,000. I get flyers & calls every week trying to get me to sell. Why would I be so ignorant to sell, when its the only place I have to live & it won't get cheaper anywhere else.?

[@CTSega]

pure inflation alone accounts for like 80% of that change in value

[@TheMosinCrate]

When you see the -% in Florida, don't get excited, that's because people are fleeing $10k a year flood insurance.

[@SunexOfficial]

As European I quickly notice that big portion of American cities has relatively small population density. Big houses sitting on big properties in huge suburbs that are meant for maximum one family. Where there are very few apartment buildings and multiple family houses. This also makes it hard to develop public transport and cultural/walkable city centers.

[@ziqi92]

It's honestly one of the worst parts about being an American. The car centric urban design makes life unnecessarily wasteful in time and money used to get basic needs met. Even if you're unaffected by gun violence and our trash healthcare system, you're still affected by the bad urban design.

[@djwoosie98]

What? Most people live in cities, suburbs are far and few actually. It's much more rural

[@ain92ru]

In Europe, starter homes are studios in 10-20 storey apartment blocks built in city outskirts. But American zoning laws allow building them only on the most expensive land in the downtown and also require massive underground parkings and/or parking lots which makes it impossible to make a profit from studios and 1-bedroom flats. It's basically all about the zoning laws, everything else wouldn't be a factor if the supply was allowed to balance with demand naturally

[@Middleground_Opinion]

Im down for rail making a comeback especially out to suburbs. Im for duplexes and even an apartment building or two in suburbs. BUT attached homes shouldn’t be the goal. If someone’s gonna pay a mortgage price they better be getting their OWN 4 walls.

[@bleulesyeux5416]

Apartments/high density in the US= Shitbags, unless it's an overpriced area. I love having land/privacy vs. being able to take a train/subway.

[@jauntily]

Corporate landlords such as Invitation Homes, which joined the S&P 500 index, have bought many of the starter houses in my city and many other US metros. Corporate landlords and their tenants often don't keep up their yard's landscaping all that well too.

[@qwite9309]

@@jauntily how about it being zoning like the video describes. Look at Minneapolis they have declining housing costs, Oakland fixed zoning and they saw their rent decrease. Landlords have a limited control when we fix zoning and let people rent out ADUs or allow even greater density that gives people much more options and takes control away from landlords

[@tdk99-i8n]

7:36 watch the whole video pls. They dismiss corporate landlords as a notable factor in the problem except for in San Antonio. 1-2%

[@ashishpatel350]

that can be solved by building more units. it is all about supply and demand. not to mention most single family homes for rent are from smaller mom and pop people looking for a quick buck

[@No-sv6mu]

My starter home is 1400sqft. 3 bedroom 1.5 bathrooms. So many people asked when we would move out to something bigger. We never did. It's been alittle over 18 years. We remodeled. It will be paid off in 2-3 years (yay 1.5% interest rate). Our children are 13 and 15. Why would we take on a bigger payment now? Soon they might be off living their adult lives

[@JohnDaniels]

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless" -Thomas Jefferson

[@Leo-z1v]

I plan on retiring someday I will not be able to do that in America if I have children. I will stay childless

[@grimsonforce7504]

Good the world doesnt need anymore children. Plus who wants to subject a child to this. Imagine what their future will be like. Trust me it will get worse before it will be better.

[@jonathanjacques7250]

Stupid

[@CoyoteGuru]

Good! There are lots of reasons to live child-free. This is only one of them.

[@PensFan96]

Move to smaller towns/cities when you are out of college/high school. Cost of living is cheaper, housing is cheaper. Find a local job in your field where you can build experience, there will most likely be less competition. Pay off debts, live modestly and save THEN move to the suburbs after you have found your footing. Some areas will never be feasible and some career paths will never be feasible. If you were born and raised in NYC, move to Pennsylvania, if you were in San Fran, move to Nevada This whole process has taken me near 10 years.

[@jchastain789]

They all got bought and fixed up. The house on my road is a brick house. Built in the 80s... sold for 60k... fixed it up. It's worth 300k now

[@bwofficial1776]

My congratulations to the people who fixed it up and resold it.

[@Blackmegagun]

All the homes being built where i live are so 2 story homes that are "worth" 300-450k. Nothing "starter" about those homes.

[@mariusfacktor3597]

It's possible that your city outlawed starter homes with minimum lot sizes and minimum square footage requirements. It sounds kind of ridiculous, but most cities have these laws. You should check to see if that's the case and raise awareness.

[@pharmdzznutzz]

That’s cheap, try 1.2mil 😂

[@Blackmegagun]

@@mariusfacktor3597 Well I live in Indiana so a lot of farmland is being bought up and turned into either "luxury" apartments, high end duplexes or huge 2 story homes in a community

[@Scar-jg4bn]

Only $300-400k for 2 stories? It's $300k for a rundown 2 bedroom where I live, and I don't live in a city.

[@LordVader5738]

@@mariusfacktor3597 Correct. I tried to build in Chicopee and Holyoke in MA, both cities have requirements that are basically for McMansions. Nothing simple can be build, even if the lots are available. But when you ask them why old houses don't need to follow these laws... crickets. Municipalities' governments and NIMBYs have become such a cancer.

[@noconsentgiven]

Meanwhile they are tearing down repairable abandoned homes all over the country 😦🧐😔.

[@icanthc]

Easy answer.....Interest rates and Inflation not keeping up with salary increases....

[@dertythegrower]

other way around, ha 😅 cheers, pack em if ya got em

[@icanthc]

@@dertythegrower From a Jan 2, 2025 Article - Although the rate of inflation is slowing down, wages and other forms of income have not yet caught up. According to the Bureau of Labor Statistics (BLS).

[@DB-bw5fz]

I see it as the opposite. Part of the reason for prices increasing and wages not keeping up is easy access to debt. How many people would be getting some of these so called “useless degrees” if they couldn’t take out student loans to fund it in the first place? I’d be willing to bet that not many would be willing to work and cash flow their way through some of these degrees if that was the only way. Then since they have the debt, they have to make a higher income right out of the gate just to survive. Since that might not be possible, they end up falling further behind financially, and end up stuck trying to play catch up. And then the cycle repeats and compounds. The cost for everything goes up, leading to more debt for some, leading to then having to make more just to keep up.

[@DanielPennybaker]

Local zoning laws is the key issue, did you watch the video?

[@randys6220]

Not just starter homes, but for renters in my area all studio apartments have totally disappeared and a very short supply of 1-bedroom apartments for people on tight budgets. Whenever I see a studio or 1-bedroom apartment being advertised once I call the landlord I find out the advertisement was not accurate and the landlord tries to convince me to rent a 2 or 3-bedroom that I do not need at a substantially higher price. Then I ask about their advertisement and they claim their webpage is old and needs an update. Most companies realize that offering larger 2- or 3-bedroom apartments end up costing hardly anything more in maintenance but results in much more in rent payments and profit. Making the situation even worse is that all the new construction of new apartments in my area I have recently seen display signs at the front stating them as more costly "luxury" apartments.

[@dusty7264]

A Florida investment company, bought every home here that was under 300K and then painted and polished them and sold them for 600K. Corporations should not be allowed to buy homes

[@kld70]

Yeah. They buy them, “improve them”, then sell them to another one of their holding companies at a greatly overinflated price. It’s a way to fix the market. Used to be illegal.

[@TheMeme0208]

Stop reporting this and start reporting what we can do to fight back

[@15_heidune72]

If homes start being kept in a family for multiple generations...I wouldn't be surprised

[@JH_789]

I work in city zoning. Our code basically prohibits cheap housing or efficient housing. It is 100% government's fault. Start going to Planning Commission meetings and complaining about it.

[@BRZguy]

I wouldn't say it's totally the governments fault though. At the same time you have homeowners that throw an absolute hissy fit at the idea of a new development in their area. Hence why these regulations were put into place. But yes I agree that going to meetings and being vocal about it is the best course of action.

[@barrettbritt]

I don’t know why I can pay an $1800/mo rent for my apartment, but be declined for $1600/mo mortgage.

[@Phoenix88203]

Because if your roof leaks, where are you getting the $10-20k to repair your roof to avoid that asset being worth nothing in a few weeks because of mold growth? You’re not approved because you don’t have the financial solvency to survive common issues with housing that $2400 a year doesn’t even come close to covering. Just because you can make the payments on a house, doesn’t mean you can afford a house.

[@kevinmanan1304]

Because a mortgage is not rent. Might be the same monthly but you’re forgetting taxes, repairs, and insurance. Your rent typically includes some wear and tear; broken water heater, call this number situation.

[@longbeach225]

This is why I'm looking overseas to buy a home. America too high.

[@0Kimm.J]

Way, WAY more comes with mortgage than just mortgage payments

[@javierosorio5169]

@@Phoenix88203 that’s a lie!!! I’m having my roof replaced by my insurance with my 3000 dollar deductible. That’s when insurance is for .

[@Severussnapebestfriend]

Saw a home 1 bedroom 1 and a half bathrooms and it had the audacity to be listed at 3 million and it was the size of a mid starter home

[@picklerix6162]

Back in the early 90’s, I took a business trip to California and checked out a bungalow that was for sale for $250k. It was a two bedroom dump in a really bad neighborhood. It had no garage and a small yard with no grass. I wonder how much that house is worth now?

[@elr0g]

That's what happens when you look at SFH's in downtown NYC. Do you really think that is representative of housing more broadly?

[@senorpepper3405]

​@@picklerix6162i grew up in san diego. Know exactly what you're talking about.😂

[@mybootscamewithoutstraps]

I want to develop a large piece of land to build quality, efficient homes under 1200sqft that are intended to have their yards(land) used for growing the family's veggies and fruits, as well as give them space to raise chickens or other animals intended to aid having their own sources of food. I think it would be incredible to be able to ensure that each home is only purchased to the family who's going to live in it and tend to the area. The whole space could be walkable and have a community center where people get together to figure out who grows what, who has what skills, and how we can all barter and trade with one another until we're all super self-sufficient.

[@yangpiao849]

Me too!

[@josielahm3283]

that sounds like a dream!

[@Twizzzums]

Answer: because BlackRock is essentially one big company that is designed specifically as a loophole to the definition of a monopoly. Blackrock, Vanguard and Statestreet own eachother equally making them what is in essence 1 company. Blackrock also bought and buys most of the land, buys and builds the most single family homes (currently owning almost 60% in the US). BlackRock has shareholder control of most banks in the US, setting the valuation prices for the homes as well as the lending standards. This is why the cost has exploded. Blackrock also has shareholder control of most insurance companies. They set the fine print. It is a monopoly. It is their fault. And they won’t stop until someone forces them to.

[@michellegreen1072]

They own about 2% of the SFH. What about the other 98%?

[@Twizzzums]

@ they own the parent companies and or lenders though, meaning they actually own the homes. Shareholder control means they have the most influence on a company’s business practices. BlackRock is an asset manager, that controls 11.5 Trillion dollars in assets. Half of the US GDP, they have their hand in. No their name is not literally on the title of homes and businesses, they manage the wealth at higher levels from parent companies.

[@kld70]

Product of repealing Glass-Stegal. Stealth banks that don’t look like banks.

[@Severussnapebestfriend]

So what I am hearing is less homes are being built because people don't want small starter homes in their neighborhood but overpriced family homes. I'm not American but the housing zones needs to have some better regulations because It sounds like hoarding and hoa level of control that's ruining young people lives

[@AKAAAK]

That's the American way 🇺🇸

[@jen6315]

I live in Miami. In Homestead, which used to be all farmland in south miami dade county, all the new homes being built are either condos or McMansions. No in between. Minimum 500,000 for single family homes

[@mariusfacktor3597]

So to put it frankly, cities banned small houses (and other inexpensive homes) with Exclusionary Zoning laws. That's ABSURD. Repeal those zoning laws right now.

[@c.eb.1216]

Some sort of red-lining. We pay for racism yet again.

[@AnonYmous-mw5lc]

nevermind environmental restrictions

[@mariusfacktor3597]

@@AnonYmous-mw5lc This has nothing to do with environmental restrictions. Zoning laws in the US were invented for racist reasons, not for environmental reasons.

[@sep1st1939]

i live in Indianapolis and have never seen a new build home for under $300k, in the city or the suburbs or the country. Where are these $100k midwest starter homes that apparently exist? I've never once seen em

[@EdynBlair]

I’ve seen many areas that now require any home built to be at least 1700sqft or larger. That’s part of the problem too

[@Retdf-e8s]

the problem is so bad even homeless people cant fine starter cardboard boxes.

[@lynnesperience1872]

😅😅😂 although a serious subject……thank you for the laughter

[@raxjax8787]

The biggest hurdle to jump over is saving 20% for a downpayment, if you dont have a downpayment then you have to pay PMI. Now the entry barrier to a starter is so high that it's so out of reach for many people, and on top of that 20% down payment is a tough hill to climb. I was able to overcome this by utilizing the VA loan and put 0% down for my house. I know this program doesn't extend to everyone, but look into incentives and programs that is offer by your states, county and cities, and also looking into different lenders that have these incentive programs for first time home buyer.

[@asog88]

If you can cover 5% you’re paying like $50-70 a month for PMI. That’s it. Not a big deal. The issue is just finding a mortgage that’s reasonable for a 2 income home

[@normp3273]

And that's just down payment that doesn't include the closing cost. I bought my first home during the Great recession of 2009. If not for the recession I would have been a lifelong renter. I was 38 at the time. The housing prices dropped so low. I actually had enough to cover the down payment and closing cost without PMI.

[@Goldberry69]

Paying PMI isn’t really a problem. We only put 5% down and our PMI is $30/month and that is quite typical (it will be much higher if you’re buying an expensive McMansion of course). Saving up for the down payment (even a 5% one) is where the problem is for most people.

[@normp3273]

@Goldberry69 Am I correct to assume you don't have a traditional loan then?

[@normp3273]

@Goldberry69 I only ask because it's been a long time since I've been in the market for a home. And I know loan programs change frequently

[@ReelFiends]

My wife and I are both 33 and have rented since our college years. We're now having our first home built about an hour outside of the city we've lived in for over a decade because we couldn't afford anything there outside of new construction townhouses or smaller, older homes that needed work. We just decided to bite the bullet because I'm remote and she's hybrid and we finally had the opportunity to own something that we could raise our family in.

[@UmmYeahOk]

“I want to help you buy your first home” was less desirable than “They’re eating the dogs. They eating the cats.”

[@chriscastillo4634]

I love my starter home, it's 800sqrft, 2 bedroom,no AC(in TX) and built in the 1930s. I consider myself lucky I could buy it 2 years ago. I feel for those because the struggle is real even here in small town TX.

[@ChrisDavis-tt1dj]

The housing market is abysmal everywhere. I sold my quote un quote starter home 4 years ago. I rented a place for a few years so I could move closer to my new job. I make approximately 125% of what I made at my old job. Unfortunately the house I was able to afford is almost identical to the one I sold 4 years ago but now double the price. I couldn’t even afford to buy back my old home. It is selling for 250% of what I sold it for. I feel really sorry for any young families trying to get started in this economy.

[@DLRinc]

My starter home was an old foreclosure in Jan 2015. Less than $70k. Worked and put $10-15k in it over time. Sold it to pay off some debt and provide my down payment for my next home. An equally old home, but bigger for my family and much better shape. Less than a $1k/month payment still.

[@hauntedshadowslegacy2826]

Where, rural Alabama?

[@JacobBoudreaux-y6u]

Property is the worst "investment" because you can't liquidate 10% of your house. I think crypto should be the worlds focus right now. Especially come the 2025 bull run.

[@Serena-c2f8y]

Talking about crypto. My problem is how to build my port-folio. How can i make good profit as a beginner starting with $5,000.

[@JacobBoudreaux-y6u]

As a beginner it's essential for you to have a pro as a guardian to keep you accountable. I'm guided by MARGARET ANN COS

[@WaymonAtchley]

When I collaborated with MARGARET, her initial advice was to understand the market thoroughly before creating a portfolio with dependable assets.

[@PaulsonAshleyWhite]

Timing is crucial, and as MARGARET ANN COX suggests, it's often wise to make purchases during market downturns, prioritize acquiring solid assets, and explore options that allow you to generate passive income while your investments grow.

[@Samuel-v1w9t]

Second repling email; Finding someone truly skillful is difficult. I'm happy to see that a lot of people found MARGARET.

[@benmccann7895]

I just bought my first house in Waterford Michigan for 130k with 30k down payment. Was every last dollar I had. Monthly payments are $950 with property taxes and home insurance included. Plus roughly another $260 a month with gas electricity and internet.

[@LandavaweOregonCoast]

I am a home builder in a great area with fantastic zoning options. However. Fees + Taxes are completely off the chart. We need to address incentives. Deferred property tax for new construction and streamline permit process and cost for 1st time buyer/builder.

[@BrookeUchytil]

I’ve had my “starter” home for eight years now. Not sure if we will ever be able to afford to move unless we want to live off of credit the rest of our lives.

[@davidcox3076]

BS. You can move. There are probably some lovely packing crates nearby that are going for less than $500,000. : )

[@Rina_165]

I'm so happy that my family and I were able to get our home back in 2022. We were able to qualify for the habitat program at the time. We got a brand new build home for $200,000. About 1,400 square feet with three bedrooms and two bathrooms. The only downside was we weren't able to own land. We had to do a land lease agreement, but we owned the house. Fast to it now, in 2024, the new habitat homes in our area are not even homes anymore. They are townhomes. They're starting at $275,000. The townhomes are way smaller than my home. A good bit of people are upset about it because they wanted a home of their own and not to share a building. But the way all of these homes are going up in cost, there's no way to afford a whole house by yourself anymore. It's hard out here for the lower income and middle-income families to even get a home to live in or rent.

[@mecha1gold]

There should be a limit to how many houses one person can own and completely ban corporations from being house owners.

[@itsa11good23]

It’s made difficult to when people setting on city councils tend to be homeowners and tend to protect their neighborhoods in their communities and don’t understand the complexities of people that are stuck, renting with extremely high rent and young people unable to afford homes because they have theirs in their property value continues to increase while they protect it.

[@MrPolandball]

Stop voting for those city council members then

[@omegajesus97]

I love that these video pop up as if they’re presenting new ideas/topics/events. They may as well produce of a CNBC story about a dead horse being beaten to death with a $7/sqft 2X4 plank

[@nicwise5227]

Is this what "you will own nothing and be happy" means??? SAD!!!!!!

[@bluetopguitar1104]

The dream of an affordable starter house is pretty dead. With apartments very expensive, I don't see how the middle class can get anywhere or even continue to exist.

[@JGamer415]

The other day, I went through old newspapers for my local area and found an ad for a 1 bed apartment (w/ range lol) for $55 a month or about $580 dollars w/ inflation. Right above, was an ad for 3 bed houses at $300 down w/ FHA loan or the modern equivalent of $3200. And they tell us its our fault we can't afford anything.

[@tristan7216]

Did you try cutting down on lattes though?

[@JGamer415]

@tristan7216 what would I drink with my avocado toast then? 🤣

[@rchhtt5210]

That’s why we bought a house built in 1897…

[@susandavis903]

Our 1917 bungalow is a solid as yours. Has appreciated 6X what we paid 30yrs ago. Great location 1400sq ft.