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Majority of Americans Can No Longer Afford an Average House

1065 sats \ 37 comments \ @Coinsreporter 28 Aug charts_and_numbers

Housing affordability in the United States has taken a sharp turn for the worse in recent years, as house prices surged to historical highs during and after the pandemic and mortgage rates have risen steeply over the past three years, as the Fed tried to rein in inflation.

https://m.stacker.news/48545

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73 sats \ 5 replies \ @SatsMate 28 Aug

Many people I know are just leaving the U.S. Who will be the buyer from all these boomers?

37 sats \ 2 replies \ @Undisciplined 28 Aug

Who will be the buyer from all these boomers?

Eventually, they'll have to sell at lower prices. A couple of years ago, demand for homes decreased dramatically and led to much lower transaction volume. As boomers exhaust their savings, those homes will start moving at prices people can pay.

35 sats \ 1 reply \ @SatsMate 29 Aug

Yea, I think prices will decline, but I think a lot of these homes will just be gifted to their children as many of the younger generation can't rub 2 sats together.

I believe it will be pretty drawn out though!

0 sats \ 0 replies \ @Undisciplined 29 Aug

I'll be quite surprised if that happens. Boomers consume every resource available to them. They're going to be the first generation that inherits from their parents without passing anything down to their kids.

Those homes will be sold to cover lavish vacations, fancy cars, probably medical bills, and who knows what else. That's my expectation, anyway.

5 sats \ 1 reply \ @Coinsreporter OP 28 Aug

Where are they moving to?

0 sats \ 0 replies \ @SatsMate 29 Aug

Several people I know are moving to Thailand or Vietnam. I have a couple buddies that moved to Argentina and El Salvador as well.

17 sats \ 1 reply \ @16d86e9daa 28 Aug

High interest rates can also be an issue in the housing market. When interest rates rise, borrowing becomes more expensive, which increases monthly mortgage payments. This reduction in purchasing power can further strain affordability for potential buyers.

0 sats \ 0 replies \ @Coinsreporter OP 28 Aug

With interest rates about to be cut down, do you think the housing would become affordable suddenly and dramatically?

32 sats \ 4 replies \ @DEADBEEF 28 Aug

We bought a house well before the pandemic but we’ve outgrown it as a family and cannot afford to buy a bigger house. I can’t imagine trying to buy a first home in the kind of market.

10 sats \ 3 replies \ @Bell_curve 28 Aug

Are you urban or rural?

21 sats \ 2 replies \ @DEADBEEF 28 Aug

Rural

10 sats \ 1 reply \ @Bell_curve 28 Aug

So housing has become more expensive in rural areas too!

I had no idea. I assumed it was the cities and suburbs

21 sats \ 0 replies \ @DEADBEEF 28 Aug

Where I am price per square foot is definitely higher in the city but rural houses tend to be larger and have more land so the overall price is higher.

53 sats \ 2 replies \ @cristaiji 28 Aug

https://m.stacker.news/48563

16 sats \ 0 replies \ @Coinsreporter OP 28 Aug

This should be the joke of the year!

0 sats \ 0 replies \ @cristaiji 28 Aug

Love Willy Woo. 😂👍

21 sats \ 1 reply \ @Solomonsatoshi 28 Aug

This is in large part a result of the neoliberals who deregulated banking regulations across most western economies in the late 1970s and 1980s - removing the previous restrictions upon commercial banks issuing fiat debt finance toward non productive purposes...primarily housing. Previously provision of housing mortgage finance was via exclusively by mutual non profits and government agencies. Since those restrictions were removed an ever growing ratio of commercial bank lending has moved toward housing mortgages, inflating house prices and bank profits but contributing nothing to the productivity and wealth of the nation. This is pure and simple parasitic fiat debt rentseeking, enabled by politicians owned by bankers.

0 sats \ 0 replies \ @Coinsreporter OP 28 Aug

So true!

11 sats \ 1 reply \ @mdominicorobin24 28 Aug

The jobs market is moving abroad. The tangible assets ceases to be profitable to hold. The rate hike is full of pausity and delay. This will really wear you down along with housing. I don't even know what to think anymore.

5 sats \ 0 replies \ @Coinsreporter OP 28 Aug

Stack sats!

11 sats \ 1 reply \ @Satoshi__Nakamoto 28 Aug

This is crazy besides this USA 🇺🇸 have the 40 %of world millioner

5 sats \ 0 replies \ @Coinsreporter OP 28 Aug

Millionaire or not a millionaire but an average house costs them in millions!!

11 sats \ 3 replies \ @SpaceHodler 28 Aug

In other words: a certain shitcoin, known as the cuck buck, is being debased and those who for some mysterious reason choose to save in it are finding housing increasingly more expensive.

It's also noteworthy that those who choose to save in Shiba Inu tokens share their experience.

All the while house prices are falling head over fist against real money.

0 sats \ 2 replies \ @Coinsreporter OP 28 Aug

Shitcoiner among us??🤔🤔

0 sats \ 1 reply \ @SpaceHodler 28 Aug

You started this thread about shitcoins :)

0 sats \ 0 replies \ @Coinsreporter OP 28 Aug

Let me see how many confirmations you get on comment!! :)

11 sats \ 8 replies \ @Bell_curve 28 Aug

The urban areas are expensive. Rural housing is affordable.

55 sats \ 7 replies \ @Coinsreporter OP 28 Aug

I doubt America has many villages now! It's a nation of cities, cities, that are also ranked! If you're an NYer, you may have better chances of finding a date.

30 sats \ 6 replies \ @Bell_curve 28 Aug

Not really

USA has over 3000 counties mostly rural

32 sats \ 4 replies \ @Undisciplined 28 Aug

That's true, but the vast majority of Americans live in a metropolitan statistical area.

There are lots of rural places, but not very much rural housing capacity.

23 sats \ 3 replies \ @Bell_curve 28 Aug

https://www.statista.com/statistics/269967/urbanization-in-the-united-states/

80 percent urban in 2020

21 sats \ 2 replies \ @Undisciplined 28 Aug

Some of that remaining 20% is suburban, too.

36 sats \ 1 reply \ @Bell_curve 29 Aug

suburbs are not included in MSA?

suburbs are not rural, closer to urban

21 sats \ 0 replies \ @Undisciplined 29 Aug

Suburbs are included in MSA's, but are not always classified as urban. MSA's are often an urban core, surrounded by non-urban areas that are tightly linked to it.

reply on another page

34 sats \ 0 replies \ @Coinsreporter OP 28 Aug

Now compare your 3000 to this.

As of 2019, there's a total of 664,369 villages, up from the 649,481 in the 2011 Census of India and the 638,365 recorded in the 2001 Census of India. https://wiki.openstreetmap.org/wiki/Main_Page

What percentage of people live in villages in India?

Rural population (% of total population) in India was reported at 63.64 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources.

With that being said, I only know that Americans don't even use the word villages more often. In fact America is a country of small towns. What you're suggesting is/may be small towns.

21 sats \ 0 replies \ @Satosora 28 Aug

Not only can they not afford a house, they cant afford health insurance. Or to save money.

0 sats \ 0 replies \ @Malachi17 28 Aug

The average American can't speak out against things they have problems with, let alone maintain jobs that buy houses.