You're Not Lazy, Homes Are Just That UNAFFORDABLE

[@KristinaSmallhorn]

Do you think people are just too lazy to save for a home? WATCH 👀The American Dream Isn't Dead, You Just Can't Afford It!:kzbin.info/www/bejne/jILViKOJhsuHgq8

[@dname1802]

You are correct. Housing is crazy unaffordable. Unfortunately, homes are not for the Middle Class anymore. Adding to the insult they're trying to gaslight us by saying we're lazy. LOL.

[@ashdobbs]

yes, I agree, too lazy

[@LIZSORIA]

@KristinaSmallhorn Hi, 😮 I been following you for long time n supporting you. I like to Collaborate with you in real estate . I agree 150% that Blackrock, n others Greedy hedge funds. I published my recent forecast correction not to buy homes now instead wait...

[@ec62229]

No you sound like a narcissist and if they're so expensive then how come every single house on the market is pending they're buying them up like they're nothing😂

[@ec62229]

If it's not affordable then how come they're all selling they're not staying on the market at least in my area soon as they're up they're gone

[@saltytbone]

Same folks in my family who say "just get another job" are the same people who won't ever shut up about using self-checkout. They are walking Facebook posts and they are miserable to be around.

[@KristinaSmallhorn]

@@saltytbone I concur.

[@cindymartin6307]

I work 3 jobs and still can't afford a house😢

[@joewoodchuck3824]

What do they say about self checkout?

[@stupedcraig]

People don't care about us. They care about themselves. Unless it actually affects them, they don't care/believe it.

[@reenakemp9132]

Self check out?

[@VivPhotography]

Most of us don't have extra money to spend on frivolous things - we are struggling just to pay for basics, much less extras, and it's because we don't make enough money to cover basic costs.

[@mahnamahna3252]

I wish that were the case. I know far too many people (some of whom are on SNAP and other assistance programs) who spend at least $9.00 per day on beverages at work alone. Then spend on "free " games they and their family members play (often at work), then finance a vehicle way over their income. Then eat foods that are not only more expensive than real food. But their sickly and "need" prescribed medications to "correct " health issues from their poor diet and lifestyle. Then donate to "charities" for various reasons that have nothing to do with actual help.Then take vacations that cost more than 2 months of their take home pay. I could go on.. Yes, interest rates are high. Yes, inventory is low. Yes, zoning laws are counterproductive (to say the least) Yes, many of the existing homes are so old and ridiculous to attempt to renovate. But historical preservation societies won't allow a demo... Zoning and historical preservation are a huge part of why homes are scarce and overpriced in many areas. They like it that way. In the 70s and 80s we did work 2 jobs to pay for things. And we did watch our budgets. Now, there is plenty of data to show that we not only don't budget. We don't want to work 40 hours...

[@jikook7457]

100% true!

[@kburkes4245]

What you're saying is true. My third daughter bought her house in 2019 for $150,000. Now it would sell for twice that, and she would not be able to afford it. Wages have simply not kept up with housing prices.

[@mwebb3014]

Sellers definitely need to lower selling prices back to 2019 prices.

[@Francisco-po1cf]

@@mwebb3014no they shouldn’t. It is what it is. How many people (including myself) waited to buy expecting a crash when we could have taken the risk then. They took the risk and shouldn’t have to sacrifice for someone who decided to wait on the sidelines. If it did crash those people wouldn’t offer to pay more.

[@mwebb3014]

@@Francisco-po1cf House prices were artificially inflated due to the pandemic. People were cashing out their 401Ks to move away from their crazy lockdown states to find freedom. They mucho overpaid for houses. But, the pandemic is over and here’s what has happened since then: The gov’t of 2020-2022 passed massive government spending bills paid for with newly printed dollars. This led to the devaluation of our dollar and ushered in crushing inflation and interest rates that have quadrupled since the pandemic buying frenzy. These artificially inflated home prices are unrealistic in today’s dollars and interest rates. So, yes, in order to sell a house, you have to have qualified buyers. Most Americans can afford the 2019 prices. The pandemic pandemonium skewed reality. Most people will still make money if they sell at 2019 prices because they have been in those homes for many years.

[@Francisco-po1cf]

@@mwebb3014 during the pandemic companies were paying bonuses for employees who didn’t have much experience. From $5k to $20k for Drivers. I’ve seen a $50k bonus for Railroad Conductors. Paid &18k the first paycheck. And they increased the starting wages in attempts to attract people. They’re still paying bonuses at this moment in some places. It was a great time to change careers while people were interested in the opportunity. A great time to stack up some money that could be used today.

[@sarahann530]

​@@mwebb3014What is your dollar devalued against ?

[@kristent6777]

I agree, I’m a realtor in Florida and have 2 adult children making decent incomes. I raised them to be spending conscious and they can’t afford to save enough for the down payment on a home. Neither of them have a fancy lifestyle but things in daily life are just way too expensive. I pray that things will get better for the younger generations.

[@robinmiller5256]

I encourage my kids to play the lottery…just in case it hits….

[@newniea21]

@@kristent6777 sadly I think it’s only going to get worse

[@Joce123]

Not just younger generations..EVERYONE

[@KristinaSmallhorn]

@@kristent6777 you’re right.

[@sarahann530]

How can you afford to live as a Realtor if nobody can afford to buy houses ?

[@zacharygodwin4557]

People are so lazy. They should just work 8 days a week.

[@2dogs1chic]

😂 something has to change and it’s not making the work week 8 days.That would be awful!

[@cfoster6804]

😂😂😂

[@Meerkat17]

NoOooOoiioIOooooo😱

[@theewelder]

there trying to make it a 4 day work week.. google it

[@Koushi82]

And work 25 hours a day for 8 days a week else you are lazy

[@nc4tn]

The economy is getting ready to burn down. You can just sense the despair and frustration in the populace.

[@tomp6685]

@nc4tn you'd be surprised how much people will put up with. As long as Americans have beer, burgers, and can afford to scrape by, nothing will change. Americans are very complacent

[@marqueskates5873]

@@tomp6685 not true at all. If you think that you are blind.

[@aaronvoss38]

Yeah, burgers are quickly becoming unaffordable too. Maybe that will be the breaking point.

[@malikcutchin]

Get ready for Danganronpa inrl.

[@adamhatcher6620]

💯

[@Scott-PNW]

What about price gouging by developers? I work with a lot of developers and contractors, and it's not infrequent that I hear them gloating about making 20% - 25% profit on the homes they are building. The quality of those homes is also not worth 70% of the asking prices.

[@cicispizzalakecharles]

Nothing wrong with 20% profit. But the quality, i agree, is definitely no longer there.

[@joewoodchuck3824]

Price gouging? More like market conditions. Pricing on anything especially houses is what the market will bear. If a home sells in a reasonable amount of time it's considered to have been priced correctly. That's not what "too high" means. Too high means it won't sell. You've missed the entire reality of prices.

[@seeleunit2000]

@@Scott-PNW Indeed

[@381delirius]

Because they know big Blackstone will buy em up

[@Ryan-wx1bi]

What's wrong with them having 20-25% profit?? They have a lot of workers to pay and months of labor to pay for

[@user-fd9jh1rh6k]

I make 70k a year with 2 jobs, zero debt, paid for 20 year old truck with 90$ monthly insurance. Still can’t manage to afford that 250k level house that in my area is just a 3 bed 2 bath regular livable house. Anything I can afford is either ran down with massive renovations to deem it habitable or 2 bed 1 bath and in a terrible part of town that still needs renovations of 25k plus

[@stupedcraig]

House hack.

[@Ryan-wx1bi]

Is it possible you could get a grant for those renovations? Depending on where you live the gov could foot the bill of renovations to those houses

[@AndrewSanderson-s4j]

You are spot on . I purchased a home 2.5 years ago rather than waiting for a housing crash. Since then, home prices and rent prices continue to rise where I live.

[@Mind_Breach]

when you make 90k a year and still cant afford a home and you work in a fortune 500 company

[@daviddavid5880]

Same. Fortune Global 500 rank 360, 18billion profit last year, ten years there, and I definitely could not afford a home. Maybe a used camper...

[@aaronvoss38]

Dude I feel for you. I got so lucky buying my house right at the beginning of covid. I make 6 figures and could not afford to buy my own home from myself at today's interest rates. It's absolutely absurd.

[@anniesshenanigans3815]

funny this just came out. I found some online calculators and ran some numbers. With my current income (85k) and no debts of any kind. I can afford to buy a home for 200k. That is it. There are NO homes that are 200k unless you want to buy something that needs total rehabbing. So tell your relatives that they should go to the online calculators and check it out for themself.

[@zcorpalpha2462]

Work 4 Jobs ‼️🤣

[@bringbacktradition6470]

That's the problem people are realizing. At 85k you should be able to say you finally made it in life and should be set. You aren't. My grandparents were able to have multiple children, vehicles, and own a home in their mid 20's working normal jobs. They weren't rich. This is what was stolen from us. It's tragic. It genuinely comes across as if this has nothing to do with greed and more to do with prevention. It appears the ownership economy is being phased out.

[@feliciasampson8032]

My rent is going up again...I can't afford to buy avocado toast, let alone a house...

[@rachelb1119]

@@feliciasampson8032 are you familiar with Matthew Lesko? He was the free money from the government guy in the early 2000’s. He’s still around. Learned from his YT channel that there are grants if your rent goes up.

[@TheIxxplonxei]

My mother told me her first house which had three bedrooms and two baths cost her 59,000. That’s is insane that if I wanted that it cost 400,000 not even 20 years later. There is no way to work yourself out of situations like this.

[@danklein8587]

Various people I know are selling their paid off $200,000 homes and buying new $500.000 homes. The $200,000 is their down payment. These are people in their 50' and 60's.

[@ladycactus110]

Crazy people.

[@reenakemp9132]

That's smart. That 500k house will double in value in the next 20 years, once they retire they will have 500k plus in equity. Seems like they are using real estate as their plan. My dad did the same, and kept investing in more expensive houses in areas that he knew were going to boom. T j atsbyreat fr your friends. They will be millionaires by the time they retire.

[@mgw5377]

I was looking at a house around the corner from my house that just sold . Looking back at the sale history it sold for 70k in 2015. In 2024 it sold for 315k. It's insane how much prices have jumped. People are only going to take it for so long.

[@stupedcraig]

Give the rich a tax cut, they use the $ to buy up homes.

[@davidtexter913]

Hey NAHB: Stop Blackrock, Vanguard, and other Mega Investment firms from buying Private Residential Housing!

[@joshuajoiner3279]

@@davidtexter913 I think they should also oust all rentals. Even mom and pop rentals, you should have to live there yourself. Housing should be a necessity, not an investment.

[@dr.laykyle9084]

@@joshuajoiner3279 Absolutely

[@rickhc21]

I am a general contractor of 44 yrs and over 200 homes built, retired last year. In a town or 20,000-population, center of Minnesota. An exact home built today as compared to 9 yrs ago is twice the cost to build here. I can share with you my take on rise of cost is mostly due to greed from every supplier and sub contractor who raise prices 10 to 15% every year. A city lot /water/sewer/ NG is still available for 25 to 35 thousand. I sell a 3bd 2 bath 3 stall garage on a crawl space (one level) for 16500 in yr 2015 and 320,000 in yr 2023. Building permits are 8000 which includes a 6500 water&sewer hook up. My high percentage buyer is retired. I will share with you it is every phase from excavator to carpet that has risen every year. Largest issue for the younger generation is a current apartment for 1000 to 1500 per month and can't save 20% down. I have no peers that will build an affordable home when there is more money in a 500,000 house. I also believe the young generation will not work hard with hands therefore causing a housing shorting. I was constantly retraining help because it was easier to tap computer keys.

[@stupedcraig]

Please don't hate on capitalism. CEOs need bigger yachts.

[@duncdunc76]

You get paid fairly for what you do sometimes. And sometimes you get paid far less then your worth in terms of blue collar work and far more then your worth in terms of white collar work. I'd love to know how much you made over your career as a general contractor. Manual skilled labor has been grossly underpaid in recent history and laborer jobs have been underpaid for generations in general. But white collar people that have these jobs today where they don't necessarily have to work hard to make tons of money because of the industry they happen to be in are mad that they have to now pay fair compensation for the hard work done by laborers due to the current supply and demand market. And they are complaining that supply and demand has allowed a small relief to those who have been busting their butt's for ever doing the necessary work for society to continue to operate. Where's the greed? It's at the top! Stop blaming hard working people for trying to secure fair pay for their hard work. You should know better as a general contractor about where the greed and exploitation exists in America. If your honest and you may be you know the problem isn't the laborers! Not saying that labor in the trades doesn't have its issues but when your doing the hard work that most people don't want to do you should be paid market value to do it just like any other industry expects in a capitalist system.

[@christaylor8337]

I got no employees so I ain't complaining about the pay raise

[@Ryan-wx1bi]

How much did you pay the young guys you constantly had to re-train?

[@zachurich5046]

Why would I work hard with my hands if I can't afford the houses I build?

[@harleyjordan7959]

This is what happens when investors and speculators are allowed to buy up the market. When a company can buy 500 homes in a community and use the ones that don't rent out as a liability to offset their taxes, they can charge whatever they want after paying whatever sky high unreasonable price they want. And when they buy up the houses in the area for excessively high prices, the market is unjustifiably inflated, so everyone starts thinking their 1500 sqft house is worth 320k when they bought it less than 10 years ago for $150k. But that's the existing market. The new homes are more expensive for all the reasons listed here, but even with that, they will be priced at the local market rate, as inflated as it is, because they're all being built by these corporations that build whole neighborhoods at a time.

[@RCTVAccount]

I think people need to consider the ROI on their money. I have two adopted kids with developmental disabilities (now 30 each about years old) that will never be able to make the kind of income I do. When they were 18 I purchased a home for each rather than spending the money on expensive colleges. The homes were used as rentals for many years. I get the income and a tax deductions. When my kids were ready to live on thier own, I reduced the rent to something they could afford. The deeds are set up to Transfer On Death (TOD) to reduce their tax burden should they sell the homes one day. Instead of spending $300K on college, I invested in their future. Even with a $20/hr job, if you have no mortgage or rent, you can live Ok. Taxes, utilities, and insurance on those homes are about $600/month. The homes are collectively worth over $1.2M and are fully paid off.

[@BlueSpoonFarm]

Make sure they cannot be dumped by predators when you are no longer able to advise them. Add Legal loopholes to ensure that no husband, wife, or lover can take it all away.

[@RCTVAccount]

@@BlueSpoonFarm Thanks. It is difficult to prevent all possibilities. I also predict that electrical costs may become increasingly burdensome. I am converting the houses to mini-split heat pumps that operate on solar (DC) panel power. For now, it cuts the utility bills in half.

[@6821hominy]

I comment you for your excellent plan you created - your investment in property as opposed to expensive college.

[@Ryan-wx1bi]

That's great you did that for them... But doing all that with a 20/hr job is impossible now.

[@reddogjrs]

45k to afford 150k house sure that's easy. Only 23$ an hour to afford a house below market value in the cheap areas 😅 all the houses in my area in this price range are fixer upper or complete tear down and restart houses. Mostly the 2nd.

[@anniesshenanigans3815]

or in a really bad area.. I find those homes all day long, but would be too scared to live there.

[@Kholoured]

Same, $250k is the new starter home 3/2. Anything below 200k is either in a trailer park with lot rent or is a complete gut or demo. I make about 80k on my own and I can barely afford 250k right now. I don't have the time to do a complete gut job and remodel. I sure don't have the money to rebuild at 150k... it's a mess right now

[@cydonia3167]

It really depends on how badly you want to get into a house. I have purchased and lived in two "cheap" homes. One was a "flip" in a somewhat questionable neighborhood and the other was a fixer upper. The flip home has now doubled in price and the neighborhood evolved into a desirable location. The other is still a work in progress but it's gone up by about 50k. If you want it badly enough, you can make it happen. But there are risks and a lot of work involved that many people just can't or don't want to take on. Is it fair that options are this limited? Of course not, but you have to be willing to work with what ya got sometimes.

[@OtakuNoShitpost]

​@@cydonia3167sure, just spend an extra 80 hours and $500 a week rebuilding a home all on your own with no help or assistance, and in 5 years it'll be worth an additional $10,000. And boy won't that be worth sleeping in sawdust and having to wear an N95 mask 24/7

[@cydonia3167]

@@OtakuNoShitpost Is reading comprehension still a thing, or no?

[@WillieFungo]

Meanwhile in developing countries they can put up a 4 bedroom house made of concrete for like $50k-60k -- less than the cost of just materials (cheap pine and drywall) here. Something is seriously wrong in America.

[@ca60453]

That is correct. I was working remotely in Ecuador during the pandemic and I saw homes for sale around 25K. If I can go back to remote work, I would leave the country in the blink of a eye. America is way, WAY overpriced!

[@CountJeffula]

And when there is an earthquake, they all pancake because they aren’t designed well to deal with seismic activity. There are pros and cons to different methods, but I’ve seen lots of questionable techniques and atrocious electrical work in developing countries. A hotel I stayed at in Honduras just dumped its sewage down the mountainside where lots of homes were below. We couldn’t safely eat the fruit. It was beautiful, but also not somewhere I could consider living full time.

[@oskayraeraso5643]

Not accurate for Panama City here we have US prices with a minimum wage of $3,50 USD per hour.

[@hyrunnisa997]

@@CountJeffula yeah thats what happened in turkey. shaddy builders and sky high apartments all came crashing down. millions of people…some cities unreachable and people just left to die in the rubble. they still haven’t cleaned up some cities…they just left them.

[@CountJeffula]

@@hyrunnisa997 See, there has to be a blended approach that’s still safe, but also longer lasting, and cheaper than US construction. I thought the 3D printed homes would maybe be the next big thing, but they seem slow, still require a lot of workers, and have propriety tech, which makes them unaffordable and niche.

[@EG-ul2wm]

I can't take it anymore. Buying a house has become simply impossible. When you add high out of control prices and roof high interest rates, it is almost impossible to afford to buy a house and make the mortgage payments. I don't know where or how this is going to end. Seems like the American dream it's more like the American nightmare. 😢

[@nature_guy]

@@EG-ul2wm I hear you in the process it is impossible.

[@shawn57187]

We also need to stop foreign and corporate ownership of residential real estate

[@CCME]

Don't forget that many of these occupations require a college degree. The cost of higher education is the highest it's ever been and so are the interest rates on student loans! Be concerned for our future!

[@Francisco-po1cf]

Truck Driver, plumber, police, railroad. Great paying jobs that don’t need college degrees. Some of those positions are so desperate they were paying extra. Sometimes you have to “dig in the dirt” and save to get what you want.

[@mindovermachine9501]

@@Francisco-po1cf What's your point? Those jobs have had stagnant wages for years and will pay less than a job requiring a college education in STEM. I'm a mechanical engineer and I make more than my friends that are electricians, HVAC technicians, and machinists. I paid off my student loans within my first year out of school. None of it matters though, because we've all been priced out of the housing market. We'll all own nothing and be happy. Thanks for selling the younger generations out. Glad to hear you got yours 🤡

[@kiwi88377]

​Cops dont make 6 figure salary, niether do most truck drivers. The truck drivers that do make big money live in their trucks and are never home. Maybe if you own the plumbing company you could afford a house.@Francisco-po1cf

[@Outdooracademe]

I have 3 jobs and keep it close to the vest, still cannot buy a house.

[@Chrono826]

"You can't get ticked off that you can't find workers in your area if you have no place for them to live." BINGO! Thank you! I work in the medical field and am ready to bail in my area just for this reason. She's exactly right. You're not going to be able to find medical, law enforcement, fire, teachers, and other local service workers for this exact reason.

[@glassninja]

8 years ago my sister bought her 3 bed house on a teacher salary for 121k. I can't even begin to fathom getting a house at that price that isn't on wheels. I was just born too late in the market cycle.

[@laranadesign4764]

@13:50 OH LET ME TELL YOU I have this in the apartment complex I live in. I have automatic payments set up right from my bank account (not even a debit card with expire date). The new property management company changed the portal but didn't tell me and then sent me a text that I was late. I opened the app and saw my payment was $0 (nothing due). I went to the leasing office on my lunch break (they have the same work hours as me) and told me they had a new portal. 😠 So you can text me I am late but not the app has changed?!? I can see how this happens to great tenants.

[@shadowknight7976]

All those things on the list are effects or excuses NOT the cause of the problem. The cause of housing crisis is two fold: 1. The financialization of housing. 2. The devaluation of the dollar or how much it can buy (purchasing power) now a days.

[@Incab]

1 is kinda right. A home today isn't something to build generational wealth and pass on to kids but a short term get rich quick scheme. 2 hasn't got anything to do with anything. 0%-1% rates set by the FeD is your cause not the value of the dollar. It's going to get better as long as the fed doesn't start doing rate cuts. Prices will correct. If they start making cuts then the prices will go up again because borrowing becomes cheap. Basically the same thing as college costs. When the money is free from the government to the college then the prices go up and up regardless of student's ability to pay.

[@chrisalley6282]

@@Incab END THE FED!!!!!

[@patrickmckeown3683]

As a guy over 60, I feel really badly for the younger generations.

[@josephcooper5348]

If the house price is cheaper in one area, then so is the pay.

[@MrDonny27]

Yep Louisiana

[@alyross2850]

I don’t think that is true anymore, and that’s part of the reason our market is so out of whack. You have people living in overvalued 700K homes on the west coast of FL, working from home, with absolutely no options to work locally if and when the working from home music stops. It’s going to be like a gigantic game of musical chairs down there, except there will only be one chair to every 10K people who must find a seat.

[@sonysoyboysaremadeoftears.7404]

The only way around that is to get a high paying remote job and you can move to the cheapest part of the country and live like a king in this economy but the problem is finding a high paying remote only tech job is about as impossible as finding an affordable house making 50,000 a year.

[@NatesHomeTours]

I can say in my neighborhood, there have been 12 new buildings go up. When I say my neighborhood I mean I can walk around the block and show you all 12 of the new buildings. Not a one is a home for sale. All are 4plex apartment buildings that are 2 bed 1 bath 800sq ft and are being rented out for $1450 a month, for reference I live in a 1200 sq ft townhouse style (2 story) apartment that is now 24 years old and I pay $950 a month.

[@ladycactus110]

Wow! Where do you live?

[@NatesHomeTours]

@@ladycactus110 Polson, MT. Untill the Rona and Yellowstone and the invasion happened, our prices were well below average. The place I live in now was $750 before all the rent hikes.

[@squarewheel142]

I heard today that Miami is #4 on a list of "starter homes" that are approaching a cost of $1 MILLION. I repeat, $1 MILLION for a STARTER HOME!

[@Metonymy1979]

Yup. Just sold my home 600k needing remodel. The house door remodeled...2 million!

[@EmpressMermaid]

I have an uncle who's one of the reasonable Boomers around. He said that in his day, second jobs were very uncommon, and the concept of "side hustle" wasn't a thing. In fact, on the occasions they did hear someone was working two jobs, it would cause concern among friends and family because it usually meant that person was in a bad way.

[@aknorth1053]

I had a similiar discussion with my father. He was focused on how everyday items like tvs ect are cheaper than ever. A lot of people aren't update their worldview in changing times

[@13ikea]

Yep same with my elders. They keep hounding me about renting not understanding housing is too expensive

[@chrisalley6282]

"Back in my day you could get a Coke and a Snickers for a nickel!"

[@hotpuppy1]

30 years ago a lot of affordable houses were going up near me>>dozens of cookie cutter split foyer houses. Frost level is 4 feet so that is as far as they dig. Lower level is family room, furnace room, garage while upstairs is 3 bed, 2 bath with east-in kitchen. About 2000 feet of total living space. They were about $150-190k then to buy. Not a bad deal for NEW construction. NO McMansions. NOTHING has been built in my area in more than a decade. The cheapest new house in my metro area is well over $400k in the 'growth cell'. Don't know how much venture capital is buying around here but corporate ownership of single family homes needs to be BANNED!

[@vikingprincess634]

Never sign a contract without having an attorney review it first.

[@j.l.salayao8055]

real estate attorney.

[@ladycactus110]

Which you can’t do if they only give you 24 hours. Rule of thumb: if you’re being pressured, WALK AWAY!

[@cmorris9494]

I bought my house for 160k. My neighbor sold their house for 400k. Their house is the same as mine. It shouldn't be a 400k house. My area is just that unaffordable now. Most of the people i work with at my pt job can't afford to live in the area. They commute from the nearby big city. On jackson hole: it has a homeless problem too and when the city leaders tried to fix it the wealthy people went nimby. The people who work in Jackson hole either are homeless or they have to spend a ton on commuting to work.

[@sharonbrumfield6579]

The housing market is just a joke. Unless you are a very well paid professional you just can’t afford a house. And it isn’t because low to moderate income people are lazy, it’s because rich people and companies are greedy.

[@vikingprincess634]

One person isn’t poor because someone else is wealthy. Jealousy is such a nonproductive emotion.

[@mindovermachine9501]

​@@vikingprincess634 Wages for the average American worker have been stagnant for decades, while CEO compensation has skyrocketed. Do you not see how these two things are related?

[@sharonbrumfield6579]

@@vikingprincess634 jealousy has nothing to do with it, I am lucky enough to have my house already paid for. Something for which I am truly grateful every day. It saddens me that I am in the minority. It is tragic that the wealth gap continues to grow and people either can't see it or choose to ignore that this is a much larger problem.

[@harsectinal]

While you blame private individuals the government is over here printing money and laughing.

[@BloodBankGame]

Also much of this data doesn't include inflation eating up people's income making food, gas and medicine and vehicles incredibly expensive. If there's major issues now it will only get worse with the coming years.

[@BloodBankGame]

Not to even mention wages not going up for more than two decades, but CEOs and C class employees are making more money than ever! Seems legit. CEO used to make 30x a regular employee salary now it's more than 300x

[@goldie260]

I work for new York city transit and most employees cant afford to live within the 5 boroughs... same as police....FDNY.. and sanitation.... avg rent is over 4300 for 1bdrm

[@vikingprincess634]

Wow! We lived in NYC metro in 2001 and rent at that time was $1600 for a 3br duplex. That was considered to be an extremely expensive rent at that time.

[@zcorpalpha2462]

Work 4 Jobs ‼️🤣🔥

[@artistandhisdogs1351]

We were able to buy a house right as everything was starting to skyrocket and you had less than a day to view and buy a house. Things have only gotten tougher since then. Now, the only friends who are able to consider buying a house are the married couples who have been living in mom and dad's basement for a few years to save up. Financially, this seems like the trick to life these days: Don't go to college. Instead, learn a trade. Marry someone in the trades. Then live with your in-laws for the first few years of your marriage.

[@ladycactus110]

College is now the way to perdition unless you have the means to continue on to a masters in engineering or to med school or law school. Almost every class i took in a rather prestigious university was BS. 😞

[@artistandhisdogs1351]

@CMBBmc-jd6ur Theres some real wisdom in it. As the average marriage age is 28 years old for women and 30 years old for men, this is just a bit of a gut punch to what adulthood looks like. Like imagine going another decade living with your parents.

[@shorty1692]

This is what my husband and I are doing. Living in my parents basement. It is stressful sometimes, as we want to live together and make our home already, but it does not seem possible right now. We are considering making a home out of a home depot shed.

[@suen5006]

Family member - home prices are just not affordable for most people in many areas, no matter how frugal they are, even if they take on a second job. Yes, some people spend a lot of money on silly or needless thing, but that still won't make a difference if their basic income isn't enough to afford the payments and expenses.

[@13ikea]

People don’t understand it can take near 2 years to save 10k! You can cut back all you want, doesn’t change the fact that the economy is just bad all around

[@zcorpalpha2462]

BOOTSTRAPS ‼️🤣🔥

[@tslonaker4609]

Our household income is 100k, my in-laws, whose house is paid off. can't understand why we can't buy a house. "You two make way more than we've ever made"!!!! I try and tell Them we'd need 100k for a down-payment just to make the payment somewhat manageable, it would probably take us 15 years to save that kind of money. Not even counting emergency funds or anything else. The response is always "there's programs out there that help with the down payment, all you need is 3.5%" 🤦‍♂️ with that little amount down, your looking at a 3700$ Mortgage.

[@sandydennis7948]

I live in Medford, Oregon. Construction is moving along on 100-unit apartment complexes and houses that look to be 1,000 sq ft. No yard and stacked next to each other.

[@JessG_20]

So.. like fema style camps?

[@zippygodogs]

You outta see Lowcountry of Charleston SC it's insane people are moving in daily. Now all those houses are starting $350. We have a modular we got in 1992. $ 56,000 now valued at 379 taxes hitting the roof. Taxes you can't talk about. People here outta a home because of taxes.

[@thinktransnational]

D.R. Horton has literally been in the news for their new builds falling apart even with the current regulations in place. With the exception of zone regulations, minimizing other regulations would just allow builders to build less safe properties. No thanks.

[@dawnliphard9591]

In our area they have built 3 separate quad style apartment complexes and someone making $22.00 an hour could not afford them without a roommate. Staring rent is 1250 plus utilities for I believe a 1br( the largest complex offers studios). We are not a large city or a college town

[@juliemarr65]

Kristina, I love you. You are so true and real. ❤❤❤❤❤

[@ofsoundmind143]

Have to move to Oregon for a job, can’t find a move in ready home that doesn’t need expensive remodeling, upgrading and safety retrofitting for less than $490k. There’s no way we can work fulltime and perform home makeover miracles. Absolutely ridiculous. Not sure how we are going to afford a $4300 house payment, but we really have zero choice if we’re going to work in Oregon.

[@heathercontois4501]

100-150k was always my budget range for a house. Where i live thats a hefty fixer upper.

[@reginafisher9919]

People that work full-time jobs and are nurses and that are lawyers are living in their cars these are people with education they're living in their cars! We are done! This is across the board everywhere in every country we're done!!

[@totalcardetail5035]

People also forget that your income is not your take home pay. Just because one makes $45k, doesn't mean you see or touch $45k. Especially, for W-2 employees. In New York, 45k after taxes will be around $35k or more. If they would go by Net income "the amount of earnings after taxes and deductions", instead of Gross income "the amount of earnings before taxes and deductions". Then things would be more realistic. Also, its all about Greed. They can build affordable housing. But, they will not.

[@SolomonTheStoryTeller]

00:10 out of the 65.5% do not own a home. Most have a mortgage on a home. If you didn't pay it off or bought it cash, you don't own it.

[@katterrific8286]

Housing is CRAZY. Both owning and renting. My rent is 1/3 of my takehome. Then I have to pay food, utilities, gas, wear and tear on my car, insurance, health expenses, etc. 😒 We have to work twice a hard as our parents for less.

[@sarwarkhan1185]

You forgot to mention Taxes on the 500k $ homes . To just afford the taxes one need to have a income of at least 45-50K a year . Let alone the mortgage is a cherry on top . To afford a 500k home one need to make over 150k a year

[@Incab]

property tax was included in the calculator for the final monthly payment.

[@gimcrack555]

Boonie homes in no where land are affordable. Found one in Indiana 30 minutes in any direction to towns or small cities. 1984 modular home with a detached two car garage on 3/4 of a acre. Paid cash for it and very happy with it. If something happens to the current home. I would just have a log-cabin type home kit and replace the one I have currently. Found some that I can build for around $59,995 range. I only paid $40,063 what I currently have. Water well, septic and all electric love this place.

[@pizza4me298]

At age 60 I have never lived in a house, and will never be able to afford one. Housing costs have gone up way more than my salary, and now I have been aged out of the job market am now retired. I can live on what I saved but it wouldn't be enough to buy a house.

[@Falney]

There is an element of frivolous spending, but it's not the majority of people. It's the people that are around the 100k earnings. I saw a video a few years ago that their annual spending on Starbucks, takeout, etc, came to 20k. If they invested that instead, 5 years they would have a down payment. But for the people under 60k (most people) there is no cut backs or extra hours they can do to get on the property ladder

[@Rysdad1]

I buy old abandoned houses for 30k-60k all day around here in nc and remodel and flip them for 250k-300k. Takes around 5 months by myself

[@winniethebubbly]

My in laws always say “well we struggled back in the day”. They paid off their house in 6 years, bought a second house where the rental house paid for that house mortgage. They worked at Lowe’s and another low end job. I have a a full time and part time job with a serious career and can’t afford a house. Wish I would’ve bought in 2020, but it is what it is.

[@crystalcottrill1284]

My first home was rent to home but it was done privately through a family acquaintance. A very, very rare situation I think in that he was getting into real estate so he actually helped me and my mother and both of us ended up purchasing our homes after a year. That was in 2000 though and in all that time I haven’t seen it work out for anyone else.

[@thomasmcbride1528]

Rentals only does not effect the homes for sale inventory. This keeps house prices up because it does not cause competition for houses on the market. Supply does not change for those who want to own. That's what is happening in my area.

[@TrustKnowWun]

Add to NAHB list: 11. Stop gov't extortion by ending the unfair taxation of property OWNERS.

[@ladycactus110]

Doomer news network gives much credence to your point.

[@meganhess9531]

I’m a realtor in CA and South Africa. Lots of Americans are now moving to Africa and because you can buy a mansion for $100k-$150k which is better build than the homes in the USA, plus Africa is a developing country and has a lot of opportunities.

[@casey896]

My 365k home was previously affordable 3 years ago but I may be priced out of it thanks to the CA UN-Fair plan. Things to be considered; even tho the numbers might work at the time of closing the deal on a home, expect everything to go up. On the current trajectory if I keep getting insurance policy increases I will be “insured out of my home” Insurance and taxes are the biggest enemy to all homeowners, and it’s only getting worse. You’re better off living in a Coleman tent or leasing a dumpster from your local garbage utility.

[@Sharlene-x4q]

If you think you own your home when you have it paid off? Try not paying your property taxes and see who really owns your home

[@noreenn6976]

Going to be very interesting to see what happens with housing in the next 5-10 years.

[@JessicaO490Z]

With your example too, those places where the cheaper housing the police officer and the school teacher would make drastically less. And I doubt those are starting wages anywhere but the wealthiest cities. Often teachers and probably police officers start off really low, those wages would probably be the median for a teacher that has 5 to 10 years experience.

[@kennethroche6285]

I look at clients income every day and they want to buy but they just can’t qualify. 😢over 20 years in this business and never seen anything like this and I made it through 07 & 08

[@zcorpalpha2462]

KEY POINTS Home prices have been rising faster than incomes, which can be a problem for homeowners because as the value of a home rises, so does the cost to maintain it. Property taxes and home insurance rates are rising, influenced by inflation and the increase in catastrophic weather events. More than 1 in 4 homeowners with mortgages are considered “cost-burdened,” according to a 2023 analysis by the Chamber of Commerce.

[@ladycactus110]

But we can be unburdened from what was by being burdened by what is, correct ? 😊

[@johnnyirish7940]

100% p&t sc disabled homeless veteran. Even with the VA home loan guarantee approved at $475,000, i can't find anything. Mostly due to the regulations on the homeloan guarantee, housing prices, and their condition.

[@tarrilb]

I just bought a townhouse last year 3bdrm 2 bath, Interest rate is 5.25%. If I would not have purchased when I did, I for sure wouldn’t have been able to buy a home AT ALL. The sad part is that I had to move out of town in order to afford it (97 miles away) If I would have stayed in the Bay Area, a home would have been out of reach. Btw, I work 2 jobs 6 days a week. I was working two jobs before I purchased, now I have more expenses that outweigh my cost of living now.🤦🏽‍♀️

[@frankaliberti]

You’re the example of how everything in this video is nonsense, and how most videos like this are misleading rage bait videos. There are more than enough affordable hones in America. People are just entitled and don’t like the idea that they might have to sacrifice something to be a homeowner. In your case, you moved. Many prefer to just live near the million dollar homes and blame others for their own shortcomings.

[@benziegirlable]

Who can eat out and afford avocado toast, its expensive Like $15. People are not eating out that much or blowing their money. We can barely buy groceries for our families. Try to go thru McDonald's as a treat and it $50, unbelievable.

[@Hollendaryy4064]

And that’s without debt probably

[@ga1actic_muffin]

Kristina, please can you answer this question? Why is everyone saying the solution is buying more homes while ignoring the whole reason we are in this mess in the first place isn't due to lack of housing in the US, it's because of corporate neighborhood housing buyups, corporate real estate greed, and unregulated illegal price fixing by landlords enabled through price fixing software like RealPage...???????? Building more homes won't fix this issue if the real estate corporations and investors are allowed to manipulate the market like this. We need corporate regulation first and heavy laws against manipulation buyups and price fixing to foster a true and fair free market, THEN we can build new homes. And if you feel the word needs to spread about this corporate problem in the real estate industry, please pin this comment to spread awareness.

[@frankaliberti]

Have you been to Zillow at all? Can you seriously say there is a lack of housing in the US when you have millions of homes for sale, with more than half a million of them and $150k? You people are sheep, listening to these rage bait content creators.

[@hkiajtaqks5253]

In rent-to-own if evictions are more common than ownership, it clearly sounds like a dark pattern and predatory practice. Should be filing class action lawsuits against such companies. It can't be allowed to continue as a business.

[@tricksonafixed]

I don’t know if this is a buzzword or not but nonetheless an effort at decommodification by the government as a way to combat against the market forces that have created this environment would be a start. We cannot rely on the market to solve this issue because just like healthcare it has failed and now we’re in a position to where real wages remain flat and prices continue to rise. I wonder how much more problematic housing will be once climate catastrophe really kicks into gear.

[@virginiamoss7045]

The permitting process has always been a massive obstacle for commercial as well as residential. The government offices for permitting are grossly understaffed, underfunded, and poorly managed. In my experience there was a Pakistani whose English was beyond horrid and this knowledge of the building codes was worse, but he had the power. Endlessly frustrating!

[@SpitfireMKX]

We bought a house in 2017 for $255,000 and sold it (with some really nice renovations) for $290,000 in 2020. As of 2024, that same house-with no further renovations-is worth $460,000. We could no longer afford to buy a house we owned 4 years ago-and we are earning more now than we were making 4 years ago. This housing market needs a major correction.

[@atomicyang6702]

A $500k home, $0 dwn paymt, at 7% interest comes to $3500/m. Thats my entire monthly income. Compared to 1960s where mortgage was 1/4 of monthly income. This economy sux!! 💯😡

[@rckc.1719]

some of the folks that say you are lazy are living in the 1950s fantasy world.

[@LWRC]

Come to Orange County CA! The Irvine Company have new homes for sale and a starter 3 bdrm 2-1/2 ba 2300 sqft house with attached 2 car garage on a postage stamp size lot goes for about $1.6MM. That's one without any upgrades. With upgrades, you are easily pushing $2.0MM. What will your mortgage be like at 6% assuming you put down $1.0MM as down payment? Don't forget the two HOAs will run you north of $700.00/month! Add property tax, around $20,000.00/yr, homeowner's insurance, realtor's commissions, sales taxes, you are looking at a boat load of money just to close escrow. So to live comfortably without being stretched to the max, I'd say a couple needs to have an annual gross income of $450,000.00 per year because all these expenses are paid with after tax dollars! Given Kalifornia's taxes, you aren't going to have much left even if you pull in $450,000.00 as a couple ! ! !

[@jeniko2841]

The best thing you can do is double your income with a partner or roommate. You only need a 2 bedroom 2 bathroom house. Your mortgage will be cheaper than rent. Start small and move up the ladder like everyone else

[@dave3657]

0:05 Looking at the chart it looks bad, but it makes a big difference where you live. My home I built new a few years ago for half of the medium home price. I live in the Midwest, not on either coast. I remember back in the 1980’s the news saying my generation will never own a home too. 🤔

[@381delirius]

There needs to be more up zoning so that people can individually add more housing in their backyard or build a duplex.

[@arizonanative7409]

Phoenix has made ADRs legal.

[@AaronHope_Sow]

Kristina, if I were looking to purchase a home today, I would not be able to afford that I own at todays market value and interest rates.

[@richardmenz3257]

I can find okay homes here for 150k, but also the avg income per household here is 35k. Yes that is factoring 2 incomes…. So around here that house is pretty expensive. Also haven’t seen a new home build here since houses got absurd everywhere else my guess building martial if more then they can sell em for here.

[@tacrewgirl]

Thanks for speaking facts.

[@natashalucero733]

You are absolutely right I live in Albuquerque New Mexico there is nothing under 250,000 k for the bottom of the barrel worn down houses that need ALOT of work if you want a new home it’s 400k plus. most people are working minimum wage and with the cost of living food gas insurance etc. there is no way. Its so sad :(

[@josephmorel7826]

The people i know who are buying houses, bought houses that need work

[@michaeltoney2277]

It says something about home prices in general that a relatively humble rate correction (historically speaking) cause this affordability issue. In the 1980’s rates were like 12-15% and they were still affordable to most responsible people with normal jobs because the homes were still priced appropriately. I say this and I have a mortgage at 2.75% but I don’t want to be someone who gains at the expense of others. I’d much rather take an equity loss if that means working families can afford to buy in my neighborhood verse a lot of renters who won’t upkeep their properties and have no incentives.

[@brightballoon]

This is wild! I had no idea this was going on right now.

[@malcolmsamuel7918]

I’ve given up looking. It’s so pointless. It’s starting to happen overseas here in the Philippines as well. Makes no sense. Somewhat greed.

[@ca60453]

I been in the Philippines if its happening it must be small, very small. I hardly seen the level of housing crisis like in America. One thing I can say its much easier and affordable to build a house in the Philippines. I met an American who built a 4 bedroom homes with two floors and had a large yard for less than 85k.

[@josecuervo3351]

From someone in the industry, I can definitely tell you that developers/construction companies price gouge through the entire process. As for the “reasonable/cost effective” building codes, that just means construction that is not built to protect the public from catastrophic loses from fire, earthquakes, health (think asbestos) and hurricanes. Building codes are historically reactive by nature, meaning that “bad” things typically have to happen first (such as folks dying or catastrophic loses) then codes are created to avoid them. Let’s start with developer’s corporate greed and NIMBY before we move down to gutting public safety.

[@Francisco-po1cf]

If people didn’t spend the last 4 years listening to the hustlin crash bros, they’d be in a better situation. Micheal Bordinaro was talking about the crash while he bought a condo. Sometimes it’s better to look at people actions than following what they say. He keeps talking about how the economy is going to go down, why does he still have the condo?

[@libbypieper1]

My sister and BIL just bought a home for $550,000 and will be using half their income to pay the mortgage 😮. I would like to buy a house (condo owner currently) but have no desire to over-leverage myself to get there.

[@rictech.]

I agree with Kristina Smallhorn… she is always spot on. Ric in nor cal. P/S I have not received a dime from that tiny home yet????

[@barrya8981]

You have to be very careful when altering building codes. Most of the life-safety items are there because people died before they were in place. Rules about structure, materials, building methods, and many other things are there because people either died or their homes were destroyed or damaged before the codes were in place.