Despite Falling Rates, 70% Of US Homes "Unaffordable" To Average American

Source: https://www.zerohedge.com/markets/falling-mortgage-rates-drive-9-jump-home-prices-70-us-unaffordable-average-worker
Published: Dec 26, 2019
Author: Tyler Durden
Post Date: 2019-12-26 18:27:47 by Horse
Views: 115

The housing market finished the decade largely on trend...

Poster Comment:

Building standards are being raised for environmental reasons.Doubling the R value makes new prices unaffordable.

The other factor is land price which has gone up several thousand percent in areas impacted by legal and illegal immigration.

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#1: Lod    To: Horse (#0)

Adding some insulation to new houses is absolutely nothing compared with the absolutely insane land valuation/pricing in many parts of the country, Austin included.

Lod posted on 2019-12-26 23:19:04   Reply   Private Reply

#2: Horse    To: Lod (#1)

I have been studying new home building techniques. Finally settled on techniques for building greenhouses and homes on the cheap.

But I have followed Matt Risinger's channel. He builds homes for the rich. They talk about $250 a square foot when they mention prices. Usually don't talk price because working people can't afford to live here. A trailer on a lot in Malibu sold for a million dollars almost 18 years ago. What would the price have been if there were no trailer?

Horse posted on 2019-12-26 23:58:04   Reply   Private Reply

#3: ghostdogtxn    To: Horse (#0)

ghostdogtxn posted on 2019-12-27 00:29:35   Reply   Private Reply

#4: Horse    To: ghostdogtxn, Lod (#3)

30% nationwide. In areas like California, getting a home in a safe neighborhood with good schools will cost you a bundle. Cupertino. Average home price is $2,119.000. Found this as first listing on Zillow for Cupertino, Ca.

$1,179,0002 bd 2 bath 1,017 sqft

22742 Majestic Oak Way, Cupertino, CA 95014

For sale Est. payment: $5,915/mo

Nice starter home for a small family. Affordable to anyone making $14,000 a month. California has a high state income tax rate and a high sales tax rate.

There is the property tax of 2 1/2% on $1,179,0002 which is a mere $29,475 a year. Maybe $2,458 a month property tax is a bit steep but they are the only town in northern California with a good school system.

Horse posted on 2019-12-27 03:20:07   Reply   Private Reply

#5: ghostdogtxn    To: Horse (#4)

ghostdogtxn posted on 2019-12-28 01:57:36   Reply   Private Reply

#6: Lod    To: ghostdogtxn (#5)

How about pathological?

Lod posted on 2019-12-28 08:23:34   Reply   Private Reply

#7: BTP Holdings    To: ghostdogtxn (#3)

I know a guy here where I live. He got a new landlord. He used to go to school with him. Now the new guy is raising the rent from $350 to $525. He can't afford that so he is going to move. I told him it is a long walk to the liquor store from there. He gave me the number one sign. ROTFLOL

BTP Holdings posted on 2019-12-28 08:50:15   Reply   Private Reply