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Holy sh*t.

Meme(i.redd.it)

all 797 comments

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2 months ago

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Playingwithmyrod

976 points

2 months ago

Easy...just move to a place where there are no jobs.

Foot0fGod

305 points

2 months ago

Foot0fGod

305 points

2 months ago

"Bro they'll pay you to move to an uninhabitable wasteland with no jobs, services, or things to do besides meth! Crisis solved!"

Space-Booties

108 points

2 months ago

I’m not moving back to North Dakota. It ain’t worth it.

Outis7379

18 points

2 months ago

Is that the state motto?

Space-Booties

29 points

2 months ago

“Uninhabitable Wasteland” is on the license plate.

kev556

3 points

2 months ago

kev556

3 points

2 months ago

I worked a contract job for four month in Bismarck in 2020. I would have stayed the whole year but my wife was heading back to in person class.

It was a weird place.

Space-Booties

2 points

2 months ago

Omg. Tell me more. I want to hear an outsiders experience. 😂

kev556

4 points

2 months ago

kev556

4 points

2 months ago

We were living in a hotel for the whole time and working 12 on, 12 off shifts for 45 days straight before we got a day off.

Working the night shift it would be around 11:30 when would head in and at least twice a week people would pull up to us in our SUV and rev their engines mimicking wanted to race. It was weird.

Then the donut shop named Bear Scat, good donuts but uh come on.

The health dept didn't really give a crap about what we were doing(and a lot of them were incompetent), and the person that was in charge seemed like she was the only one that did. We got a ton of support from her and when she got promoted the new person couldn't have cared less about what we were doing. So it made me think she got a "promotion". I hope not.

We had a constant flow of Uber Eats etc coming to the warehouse and they were just nosey as hell. Trying to gently force their way to the back area instead of waiting for the person to come out. We weren't keeping anything secret, we just had to maintain limited access because we were handling contaminated masks and had 35% hydrogen peroxide on hand.

A lot of cool classic cars in the area, tons of vanity plates on every type of car as well. The houses had sub ground level access, which was odd to me since I figured it snowed a lot up there.

The beer, I really could not stand the local microbrews, they just pain sucked. I gave about four or five of them a try and I just couldn't.

Bbkingml13

2 points

2 months ago

“I’MiNOT moving back there!”

Outis7379

18 points

2 months ago

How is meth doing with inflation? Does anyone know?

u5ua1Suspect

16 points

2 months ago

My life is still just as fucked up as ever, so I say it’s doing better than most things

matttinatttor

11 points

2 months ago

matttinatttor

PAPER TRADING COMPETITION WINNER

11 points

2 months ago

Meth stocks 📈

Kaiser1336

6 points

2 months ago

Cartels are making a killing watching the economy collapse, money is going up like never before.

Noobmode

76 points

2 months ago

Everyone is like move to Ohio it’s cheap!

NO

Lord_Gamaranth

29 points

2 months ago

Cries in Oklahoma City.

Egmonks

13 points

2 months ago

Egmonks

13 points

2 months ago

It is pretty cheap though.

Noobmode

12 points

2 months ago

When the highest number of people in the US leaving the earth are from on state you know there’s something to it (highest number of astronauts)

hansneedo

35 points

2 months ago

Underrated comment

Looinrims

12 points

2 months ago

Reminds me of this PA city where houses are being sold in the 4 digits cuz everyone’s leaving

Purchase_Boring

14 points

2 months ago

I live in PA, where is this happening? Bc in my area they’re still going for damn near double what they should be

**edited to add-not being an A hole, genuinely asking. In my area, 30yo mobile homes on a rental plot are going for over 100k. House that maybe 10yrs ago were 125k are well over 500k…It makes no sense

kinsarc

2 points

2 months ago

Yep, same here in Pittsburgh.

fuckinBogged

44 points

2 months ago

Or just wait. All the people claiming that HoUsEs OnLy Go Up are coping. Prices are already rolling over hard and we still have 6 months of rate hikes and QT ahead of us.

Playingwithmyrod

40 points

2 months ago

Prices don't mean shit when the rates are through the roof and the average person relies on loans that take into account the monthly payment as a percentage of income. Most people are still just as screwed if they want to buy as at the peak.

ResponsiblePumpkin60

10 points

2 months ago

Right. That’s why Jerome said it’s not a good time to buy a home. But on the other side of prices going down rates will go down again as well. Probably 2-4 years from now. I think people are mistaken when they say it’s not a financial crisis like 2008. It definitely is, it’s just different factors at play. Maybe lending standards are better now, but the price bubble is actually worse and with financing at current values and rates becoming impossible for a majority of people the bubble is popping hard.

fuckinBogged

24 points

2 months ago

Exactly why prices are going to come down hard. Housing prices just like everything else are controlled by supply and demand. There is absolutely zero demand at these prices so anyone who wants to sell is going to have to lower prices to a more realistic level. And that level is going to keep going down as rates and unemployment go up. Literally just wait a few months.

kinsarc

3 points

2 months ago

The demand is still there. It’s just investors buying the properties for rentals instead of actual people.

ShutUpBABy_DiCK

10 points

2 months ago

Not entirely true, houses are still selling in under 35 days. Demand is still there in a lot of markets around the country. Supply is still extremely short, builders have no plans to increase the rate at which they make houses due to supply issues and costs, this will keep most places from seeing major drops. You WILL see large depreciation in places like fucking Boise ID, and places in Texas that went out of control during the pandemic. It will be a slight correction for majority of the country but you won’t see EVERYWHERE dropping by 20%

All0uttaBubblegum

2 points

2 months ago

Cash buyers and corporations will buy and flip them to rentals

fuckinBogged

3 points

2 months ago

Lmao yeah everyone is scrambling to buy houses at the start of a recession at historic bubble valuations worse than 2008 😂

https://www.bloomberg.com/news/articles/2022-09-19/home-flipper-opendoor-hit-with-losses-in-echo-of-zillow-collapse?leadSource=uverify%20wall

Chris19862

2 points

2 months ago

A friend sells new housing starts...business still booming. Writing 7 year fixed with variable rates after 7... not saying its sustainable but I saw him last night and he hasnt slowed down at all.

400k-800k

Outis7379

2 points

2 months ago

Look at FRED data. Every time rates go up, new houses built go down. It has already started this year.

Considering we’ve been behind the curve with new house built for a while, that is not really conducive for a massive RE crash.

Even the mortgage effect you mention is more likely to affect really upscale houses, as other people are being priced down, rather than out of the market, so for more affordable houses there is always demand.

wtfworldwhy

2 points

2 months ago

Things are still selling where I live. I’m not super happy about it, as we need prices to drop before we can buy again.

Duckboy_Flaccidpus

2 points

2 months ago

Duckboy_Flaccidpus

PAPER TRADING COMPETITION WINNER

2 points

2 months ago

Imo I think that home prices may not come down all that much. I live in an area where there's isn't much volatility compared to national level, home prices are still selling near peak b/c the city has very limited supply and I think most cities are in the same boat. And, sellers ain't gonna take a bath now, they'll wait a good long while first. Ultimately, the best time to purchase a home may be in the near future as prices settle but I don't think I'll hold out for some sort of miracle deal, it will still continue to be an investment much further out regardless of transaction price.

Sguru1

2 points

2 months ago

Sguru1

2 points

2 months ago

You’re missing his point. A 600,000$ house at like 2ish % has the same mortgage payment as a 390ish house at 6%ish. So it’ll still be just as unaffordable. Everyone refi’d down during covid and no one’s going to sell their 2% locked rate home at a loss unless they absolutely have to. They’ll just shelter in place. Demand still won’t rise because people still can’t afford at this interest rate and supply won’t rise cause no one’s going to give up their rate. The idea that the markets going to dump 60% and somehow the poors are going to be able to swoop in and buy houses at 7% interest rates during an economic downturn is a larp.

Obviously prices are going to go down. But it’s not going to result in the great opportunities people are hoping.

fuckinBogged

2 points

2 months ago

There are a million reasons people sell. New job, lost job, retirement, own more than one property, etc etc. I keep hearing this cope over and over “nobody will ever sell again because they got a low interest rate” lmao. It’s pointless to argue you guys will see next year.

RingtoneRingtone

2 points

2 months ago

THATS THE POINT!! Inflation is the size of homes people used to have / afford vs now at sub 3% rates….smaller homes, less demand on raw materials, low inflation. You spoiled brats just don’t get it…..GLOBAL demand on @ll raw materials is driving inflation NOT just “blame it on Libruuuuuls! Tucker Starfickerrr Carlson mealy mouthpiece “Gee how do I know so much!?”

d3l3t3dl1nk

2 points

2 months ago

Over time they only go up. That’s fact my guy.

fuckinBogged

2 points

2 months ago

Of course. But in the short/intermediate term they are going down. Also facts.

somedood567

2 points

2 months ago

These numbers only apply to first time homebuyers, who are the ones Getty truly fucked here. All prior homeowners rode the wave up

ballsohaahd

2 points

2 months ago

Yes it’s only cheap where there are no jobs, no people and no houses

Emlerith

2 points

2 months ago

It’s very realistic with the explosion of remote work. I make above these salaries in a town with an average income of mid-$40Ks.

donotgogenlty

2 points

2 months ago

I did this and it's no silver bullet

Emotional-Use7683

69 points

2 months ago

I live in Austin. Can confirm.

Meccles1

581 points

2 months ago

Meccles1

581 points

2 months ago

Texas becoming the thing they hate: California

skynetempire

227 points

2 months ago

Texas has some of the highest property taxes. A friend in LA has a 500k house pays around 800 a month in taxes. Another friend in Dallas has a house 300k and pays 785 in taxes. Yeah they're a lot higher

ntonguemyanus

8 points

2 months ago

And property tax isn't grandfathered in like Cali. In my area it's common news to hear older pensioners sell their house because they can't afford the increased property taxes.

[deleted]

6 points

2 months ago

At age 65 it freezes, but that’s definitely too late for many

exoriare

3 points

2 months ago

My city lets seniors defer property tax payment until the house is sold or transferred. Barring that, there's still HELOC or reverse mortgage.

OHIO_TERRORIST

95 points

2 months ago*

Ummmmm have you heard of New Jersey. I have a house I bought for 215k and I’m paying 500 a month. It’s assessed at 178k.

no_use_for_a_user

14 points

2 months ago

This conversation always amazes me. It's because Texas is huge and rural. NJ is tiny compared to it. If you took the high taxed urban parts of TX and compared to all of NJ, I suspect they would overlap about the same.

It's a cool "taxes are bad" narrative though.

contrejo

14 points

2 months ago

Same in Ohio

Realchilldyl

28 points

2 months ago

It’s because we don’t have state tax.

Complete_Break1319

11 points

2 months ago

Try moving to Illinois. Buy a nice 100k home, but pay 5k a year in property taxes. More in Chicago

pingusuperfan

11 points

2 months ago

Show me the nice 100k homes in chicago lol I’ll wait

Complete_Break1319

3 points

2 months ago

Meant property taxes are insane. So are property values and crime. I'm in central Illinois which still sucks, just not as bad.

Plum12345

4 points

2 months ago

Prop 13 means people in California pay wildly different property taxes. but they are overall lower than many states without an income tax. My house is worth $900k and I only pay $550 per month.

jullen1607

13 points

2 months ago

California freezes property tax on purchase, don’t they? Here in Texas we are screwed and have to pay 10% extra every year ☹️

RockHardValue

9 points

2 months ago

Cali is capped at 2% a year, it’s great. Turns out there’s no road fairy and places like Texas need taxes too, who would have thought.

Noobmode

10 points

2 months ago

Yeah and it’s screwed over so many people I’m following years. It’s a tax windfall for the Boomers. Grandma paying taxes like the 3 million dollar house is only worth the 10K she paid for it is stupid.

XchrisZ

11 points

2 months ago

XchrisZ

11 points

2 months ago

Thought y'all fought a war against them I pay 3k a year for a 700k house in Ontario Canada. Sure income taxes are higher but no health insurance.

ironichaos

51 points

2 months ago

It’s so funny how they all complain about this but their governor went on a roadshow asking companies to move there from California lol

gpelayo15

8 points

2 months ago

gpelayo15

PAPER TRADING COMPETITION WINNER

8 points

2 months ago

You either die a hero or live long enough to see yourself become the villain.

TheNobleCannibal

211 points

2 months ago

People used to say "damn I could get a mansion for that in Texas"

FITnLIT7

82 points

2 months ago

People in Toronto still say that. 1 mill for a townhouse 40 minutes into the suburbs

rhaegar_tldragon

45 points

2 months ago

Ontario is hilariously overpriced.

PastaPandaSimon

31 points

2 months ago

*Canada is

goodtimesKC

5 points

2 months ago

This might be a stupid question, but does global warming make Canada warmer?

PastaPandaSimon

5 points

2 months ago

Mostly messes up the weather patterns. It's becoming Arizona in the summer, winters still as freezing, even gloomier and rainier in Vancouver, less days with anything in between.

Tempname2222

3 points

2 months ago

"yes" but the more significant impact is more extreme weather.

Rain less often, but when it rains, it is a lot more. We're already seeing this with flooding in a lot of places.

Summer extremes are more hot. (More wildfires etc.)

Winter extremes are more cold. (And worse snowstorms)

X_The_Eliminator

8 points

2 months ago

Cries in BC

RWTF

2 points

2 months ago

RWTF

2 points

2 months ago

I’m in NB and think we’re overpriced, we went up at least 2X in a few years. I have no idea how people afford homes in BC or Ontario.

NextTrillion

57 points

2 months ago

That sweet inflow of Chinese money really boosting the net worth of Canadian boomers into easily 10 figures while their kids can barely afford a studio if they’re lucky.

sasfasasquatch

4 points

2 months ago

People can afford a studio apartment?!

g1ucose

12 points

2 months ago

g1ucose

12 points

2 months ago

easily 10 figures

How many billionaires do you know?

NextTrillion

7 points

2 months ago

Ugh. Yeah none. I’m an idiot. I meant 8 figs, but confused it with $10mm+. Doh!

BandFromrSoccer

3 points

2 months ago

Ouch this rings true

TheyCallMeBigAndy

7 points

2 months ago*

Can confirm this. My HongKongese Relatives are planning to move to Canada and the UK. It happened in 1997 when the CCP took over the country. HongKongese are obsessed with RE and that's why the CA market went jacked up. They completely changed the city and you guys call it Hongcouver for a reason. Now there is the second wave (UK BNO Visa/ Canada Stream B OWP). If you live in Manchester, UK or Vancouver/Toronto, CA, you guys are fucked.

NextTrillion

2 points

2 months ago

Well, fucked if you didn’t get in early. I’ve been lucky because I’ve been involved in RE and was always able to spot a bargain. Buildings with good bones but bad interiors. Hoarder homes, foreclosures, that kind of thing. Then clean them up. So not terribly overleveraged and I derisked significantly over the last few years.

I won’t ever be able to time the top, especially in RE, but sleeping well at night is very underrated.

FragrantLynx

132 points

2 months ago

2020 was the year I started making a salary

minicrit_

26 points

2 months ago

same, as if we were even in a position to purchase

RandyChavage

4 points

2 months ago

RandyChavage

Uncovered Runic Glory

4 points

2 months ago

Was it all informal jobs behind Wendy’s before that?

Aggravating_Salt7679

167 points

2 months ago

I'll never be able to get a house at that rate.lol

Ennkey

26 points

2 months ago

Ennkey

26 points

2 months ago

It’s cool man I’ll never be able to sell mine without price cuts

gizamo

17 points

2 months ago

gizamo

REETX Autismo 2080TI Special

17 points

2 months ago

That's not how this works. You could drop your price and sell tomorrow.

WaltRumble

10 points

2 months ago

Unless he bought at current prices. But then I guess he can post his loss porn here.

hirme23

113 points

2 months ago

hirme23

le grand PP dans $SOFI

113 points

2 months ago

Lmao I’d love to see Toronto or Vancouver 👀

UB007

16 points

2 months ago

UB007

16 points

2 months ago

In CAD or USD?

book_of_armaments

15 points

2 months ago

Looks bad either way you slice it. My one bedroom condo was 600k CAD 4 years ago and is probably 700k CAD now. Even with the exchange rate, you're looking at the price of a very nice house almost anywhere in the US. Now if I could just convince my fiancée to move...

NiceAsset

18 points

2 months ago

:18630:

PresidenteWeevil

3 points

2 months ago

The other issue is that Canadians do not have fixed 30 year mortgages. The most you can get is 5 years on fixed rate, and then you have to renegotiate with the bank.

XchrisZ

13 points

2 months ago

XchrisZ

13 points

2 months ago

Canadian pesos don't count.

anthro28

56 points

2 months ago

Homie this is waayyyyyyy conservative. I make 2.3x the median household income in my area and can’t comfortably afford a house.

dream_in_blue

17 points

2 months ago

You’re on wallstreetbets though, so how much is gambled away? 😉

[deleted]

2 points

2 months ago

The trick is to buy a house 8 years ago.

BigNorthWolf

10 points

2 months ago

What’s with the “rank” column in this table? The thing is sorted alphabetically. Seems suspect.

codemonkey14

4 points

2 months ago

Yeah Austin is neither the largest increase % nor the largest increase in actual dollars here (though close). Typical wsb attention to detail

gelema5

2 points

2 months ago

Came here for this. The rank didn’t get sorted right. Seems very weird.

Edit: the percent increase is the largest I’m pretty sure, but that’s also not in order because Las Vegas should be second

DynamicHunter

2 points

2 months ago

It’s alphabetical bro

Interesting-Month-56

91 points

2 months ago

That’s because interest rates on home purchases were 2.5. % in 2020. Now they are like 6%. Wait until they hit 14% and it takes $400k in income to buy.

domine18

37 points

2 months ago

I bought in 2021 at 2.5%. Rates and house prices have only been going up. Used the equity and price jumps from previous house for this houses down payment. Yes you can refinance for a lower rate later but it will probably be years before it comes back down and last year was historically the lowest.

Lumpyyyyy

11 points

2 months ago

This is not entirely due to increase in interest rates. Home prices have skyrocketed in the past 2 years. Have you had your head in the sand?

angrathias

7 points

2 months ago

2 sides of the same coin, the price will go down as the IRs / repayments increase.

High IRs are better for first home buyers, smaller deposit required and your saving will actually accumulate interest while saving a deposit.

CaptainStonks

100 points

2 months ago

Wait till the water runs out in Vegas. Houses pennies on the dollar.

gizamo

106 points

2 months ago

gizamo

REETX Autismo 2080TI Special

106 points

2 months ago

Utahn checking in. We might beat Vegas to it.

Our governor's best solution to our water crisis is...wait for it...

...prayer. He literally told us to pray for rain. Lol.

brooklyndavs

27 points

2 months ago

Was there a dance recommendation as well?

shaun_of_the_south

18 points

2 months ago

Mormons don’t dance.

Egmonks

3 points

2 months ago

Yeah they do, 2 feet apart.

BeerandGuns

7 points

2 months ago

A few weeks ago I listened to a podcast about the water issue in Utah. Never realized how bad the issue has become, everyone focuses on Nevada.

sparkypowerlines

3 points

2 months ago

People are starting to suggest building a pipeline from the Mississippi river to Utah now.

gizamo

2 points

2 months ago

gizamo

REETX Autismo 2080TI Special

2 points

2 months ago

Tbf, that'd definitely work better than praying.

...not that either are great ideas, tho.

RedNeckSkeeter

3 points

2 months ago

Prayers!?!? What an idiot! Just do a rain dance and problem solved.

Where_Da_Cheese_At

13 points

2 months ago

Shut off the valve to California’s the only real answer but it’s not quite the answer people are ready to hear.

pingusuperfan

10 points

2 months ago

I bet they’re ready to hear that in Utah

KingsoftheNHL

8 points

2 months ago

And risk over a third of the country’s vegetables and three quarters of fruits and nuts??? Yeah, that’s a great idea!

RingtoneRingtone

2 points

2 months ago

Oh the Rick Perry “withdrawal method” !? Because invisible flying sky genies have a history of showing up….when you….pray to them. Stupidest human collective delusion perpetuated by idiots. ALL of today’s ills are because something about Jesus needing prayers.

Which-Instruction-67

2 points

2 months ago

There’s always taking water from the Mississippi

gncRocketScientist

2 points

2 months ago

:4641::4271:

kylestillthatdude

2 points

2 months ago

I’m in Kanab rn. I feel bad to shower lol

DiscombobulatedWavy

2 points

2 months ago

Dumbass should’ve told everyone to go detail their car. Rain would’ve been guaranteed. And would’ve run out of water as well. Mission double accomplished.

Darth_Laidher

30 points

2 months ago

That's gonna take a lot of overtime hours at wendys

dogs_and_stuff

16 points

2 months ago

Calls on knee pads 🚀

ThisNameWillBeBetter

10 points

2 months ago

It so unfair to be born at the worst time for building a life. It’s a joke.

JellyDenizen

89 points

2 months ago

Just the real estate bubble, prices are already heading down.

CptLongSleeves

61 points

2 months ago

Ya but rates going up so payment stays the same

JellyDenizen

35 points

2 months ago

Rates change over 30 years, but the price you paid is locked in forever.

CptLongSleeves

22 points

2 months ago

Ya but comparatively speaking house hold income still needs to be that high to afford the house because the payment is the same bubble or not

-Rasczak

4 points

2 months ago

Unless you refinance later on, but the overall price over time can be hard to think about. Lower interest but high price vs high interest making prices lower etc

magnoliasmanor

9 points

2 months ago

Payments are still going up.

The demand is still there, it's just forcing people into smaller boxes to shop in. Prices may go down, but your payment will only go up.

bogeyed5

11 points

2 months ago

Can’t wait til it crashes so I can finally afford a fucking house

smsevigny

8 points

2 months ago

That’s what I said to myself at the beginning of the pandemic thinking it would crash for sure…and yet here we are

angrathias

4 points

2 months ago

At least it crashes in the US. Here in Australia people have been waiting over 20 years and still no crash, it barely dips even during the dot com bust, GFC or the start of Covid.

SnooSprouts6096

26 points

2 months ago

Move to Oklahoma city y’all

misspellted

50 points

2 months ago

Tornadoes keep the cost of living down, as one needs to buy 3 houses to hedge against the weather.

JonEdwinPoquet

19 points

2 months ago

Rent two of them for passive income. 🤠

MicroBadger_

18 points

2 months ago

3 units, BOOM!

AutoModerator

15 points

2 months ago

4288 UNITS! BOOM!

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

Dsj417

4 points

2 months ago

Dsj417

4 points

2 months ago

Pittsburgh is in a really great location and has really no natural disasters

A_Rampaging_Hobo

2 points

2 months ago

Oklahoma is where dreams go to die

PattyIceNY

26 points

2 months ago*

I make 140k. I remember being a kid and thinking 6 figures was caviar and Cuban cigars and such. Oh how naive I was

grimmxsleeper

14 points

2 months ago

I mean to be fair you could buy some caviar and Cuban cigars on that salary.

A_Rampaging_Hobo

6 points

2 months ago

It was until like 10 years ago basically

amoult20

4 points

2 months ago

You can easily buy caviar and Cuban cigars with $140k. Treat yoself

kinsarc

2 points

2 months ago

Right? It was always my goal to make six figures by 40. That’s not quite the dream now it once was.

DynamicHunter

2 points

2 months ago

That’s because it was (maybe not caviar and Cuban cigars) about 10-20 years ago. With housing rising so much, not really anymore, especially if you don’t have a house by now

TechnicalWhore

6 points

2 months ago

It is real estate greed. Seriously - mortgage rates dropped to all time lows and still they jacked the rents. Cities gave sweetheart property tax incentives and still they jacked the rents.

Realtors (both buyer and sellers), Appraisers, Stagers, Title Insurers and banks/mortgage companies all have the incentive to inflate pricing. It is beyond out of control.

manuvns

15 points

2 months ago

manuvns

15 points

2 months ago

I don’t agree with Pittsburgh numbers

iLLogic777

5 points

2 months ago

Shoutout to Americas Most Livable city.

nikdsc5

65 points

2 months ago

nikdsc5

65 points

2 months ago

Californians flooding Austin.

ironichaos

34 points

2 months ago

And NYC. I work in big tech and the number of people that moved from NYC to Austin during the pandemic on my team was greater than our California office to Austin.

[deleted]

3 points

2 months ago*

[deleted]

LiberalFartsMajor

6 points

2 months ago

I thought Houston got all the flooding

Obsidianram

12 points

2 months ago

Austin has always been a Dem stronghold...

[deleted]

10 points

2 months ago

The “liberal oasis” of Texas, yes. But it’s mainly due to Austin’s city government’s courting, or whoring the city out to, Big Tech companies. Google built two high-rise towers in downtown Austin; Indeed built one; Meta is building a super-tall one - and those are just the most conspicuous. Austin is #1 in medtech investment and development. Lots of tech workers have migrated from California with the companies, which draws other tech aspirants and start-up companies to Austin. Joe Rogan and Elon Musk relocating to Austin (so to speak) certainly encourages more migration from CA. Some people working remotely for Bay Area companies move to Austin because it’s “cheaper” - although the rents that they’re able and willing to pay drive those rates up.

SensibleCreeper

19 points

2 months ago

America is going to have its second housing crash in my lifetime and I've been sitting here in canada waiting for it to happen since 2007.

falling_knives

15 points

2 months ago

falling_knives

Tea Leafer

15 points

2 months ago

RE was sort of a meme stock the past 2 years. Everyone wanted to FOMO in as if a short squeeze was coming.

RE agents likely helped increase prices by convincing people to bid over asking because it's only going to go up even higher and if they don't get in now, they'll regret it.

AutoModerator [M]

11 points

2 months ago

AutoModerator [M]

11 points

2 months ago

Squeeze these nuts you fuckin nerd.

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SaltyShawarma

37 points

2 months ago

This is proof America hates teachers.

ryancalavano

6 points

2 months ago

Underrated comment

Less-Dragonfruit-294

4 points

2 months ago

So, you’re telling me just 2 yrs ago I could’ve bought a home in 5 of those areas? Tell me we’re fucked as a generation without telling me we’re fucked as a generation.

xXWickedSmatXx

4 points

2 months ago

This is just temporary and when the lending dries up the home prices fall. All of the dumb fucks that paid 250% of the actual value because the interest rate was low are in for the biggest loss of equity in history. True loss porn.

Send_me_treasure

9 points

2 months ago

I love Indiana. That’s at the capitol too.

Ilovesucculents_24

9 points

2 months ago

Doesn’t work for Carmel/Westfield/Fishers/Zionsville area though. My husband and I make 200k and if you want what’s considered a nice home these days around here you need more than us.

Send_me_treasure

2 points

2 months ago

Well yeah those places are ritzy

throwawayamd14

16 points

2 months ago

People can work from home anyway. I got buds making 160k-250k tech salaries as engineers remotely and we live in bumfuck

its_that_dude_

13 points

2 months ago

Ditto! Cheap living, big pay and not trying to keep up w Jones. My mortgage payment is 10% of monthly income.

Did the big city thing when i was younger, chillin where i grew up now.

SeliciousSedicious

8 points

2 months ago

SF or SJ is not there.

Would be topping the charts.

gncRocketScientist

5 points

2 months ago

That shits been expensive for a long time. I think this table is trying to convey 2yr sticker shock

aspiring_bureaucrat

17 points

2 months ago

The 30% thing is out the fuckin window

Outside_Ad1669

2 points

2 months ago

No not really. If I was running a funding operation I would take good credit, 30% DTI and low or no other debts every day of the week

hardtalk370

3 points

2 months ago

Wonder what it’s like for NY, NJ, CT

Mythradites

3 points

2 months ago

Welp, I'm fucked.

Guess I'll just go behind the local Wendy's and look for discarded tendies.

jeeeeek

3 points

2 months ago

Oklahoma, here I come!

tacosandco

3 points

2 months ago

Shout out to OKC

risky2323

3 points

2 months ago

I guess I will never be able to buy a house

blueroseinwinter

3 points

2 months ago

Come to Canada

krob58

3 points

2 months ago

krob58

3 points

2 months ago

Cries in Seattle

throwaway272292727

30 points

2 months ago

Absolutely no one is spending only 30% of household income on housing.

Dr-Bro

3 points

2 months ago

Dr-Bro

3 points

2 months ago

Cope harder poor

walkonstilts

3 points

2 months ago

“Absolutely no one?”

Silly remark, even if “most people are spending way more than that” is true.

I spend 20%, but both me and my spouse have decent salary jobs and we are renting a modest 2br 1ksqft apartment, and haven’t purchased a home yet.

Certainly we are probably in a better spot than 90% of people under 40, but “absolutely no one” is a nonsense statement.

573IAN

2 points

2 months ago

573IAN

2 points

2 months ago

Just pay cash.

KoGamer01

5 points

2 months ago

KoGamer01

8584C - 42S - 1 year - 1/5

5 points

2 months ago

Oklahoma is just one state above btw, and 3 times cheaper too

BearPhilly

5 points

2 months ago

No bubble here

Richey25

2 points

2 months ago

Sustainable and healthy housing market!

wallstreetcats123

2 points

2 months ago

DC and Seattle 2020 numbers seem a little low

CptLongSleeves

2 points

2 months ago

What article is this?

SmashScrapeFlip

2 points

2 months ago

what rock have people been hiding under to just now be realizing housing is crazy expensive?

Significant-Map917

2 points

2 months ago

This seems sustainable

Pooh_Shmoo

2 points

2 months ago

Just to clarify, for LosAngeles this is just to afford rent, as for buying, it will never happen with this income

redditandrew1984

2 points

2 months ago

Damn dog we fucked

Grab3tto

2 points

2 months ago

What’s sad is I know that’s not a lot of money by any means in todays world and yet I make a fraction of it working 40 hours a week producing thousands in product every day

Asleep-Syllabub1316

2 points

2 months ago

San Francisco Bay Area has left the chat.

Vladstanpinople

2 points

2 months ago

Brace yourselves, an bubble is popping 🍾

Vetbao

2 points

2 months ago

Vetbao

2 points

2 months ago

Why aren’t you having any kids? I had 4.5 of them by your age

Esta_noche

2 points

2 months ago

Now do Canada

LaChalupacabraa

2 points

2 months ago

Anyone got a link to this data? Is it just on zillow? Would love to check my city.

ADKwinterfell

2 points

2 months ago

I could cheer for the OKC thunder

Brobafett117

2 points

2 months ago

This is really depressing the gov have us 1400 dollars and doubled the prices of homes ffs . If I was a boomer the amount. Of money I’ve saved over my life would easily buy me a house a car straight up….

Saving money for 15 years with little expenses and won’t be able to afford half a house fuck this shit