this post was submitted on 28 Nov 2024
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[–] inv3r510n@lemmy.world 10 points 3 weeks ago* (last edited 3 weeks ago) (2 children)

When did you buy? 2017/2018/2019?

The last time I could even think of getting a house was back then, and the prices here went up at least four fold.

Most millennials I know can’t afford houses and never could. If they didn’t buy before covid they can’t buy until the market crashes again.

Also you’re not gen z. The oldest gen zs are like 25… hence mommy and daddy’s money.

Gen z didn’t have a decade of extremely suppressed wages to account for, and if they graduated right into a cush work from home “job” during covid they won’t have any financial difficulties at all. They’re not dealing with the compound lost interest of a lost decade.

[–] protist@mander.xyz 1 points 3 weeks ago (1 children)

Home prices are rapidly falling in my area after several years of out of control growth. The real problem is interest rates, which add hundreds of dollars per month to mortgage payments for the same home price. Fortunately interest rates are temporary and are starting to go down too.

[–] inv3r510n@lemmy.world 3 points 3 weeks ago (1 children)

Where are you? In vermont prices just go up and up. I don’t even pay attention to interest rates as the prices are far beyond what I’m capable of.

[–] protist@mander.xyz 1 points 3 weeks ago (1 children)

Austin, TX. Prices here more than doubled from 2019-2023, but have been falling for well over a year now. A ton of new homes and apartments are still hitting the market too, so I doubt we've hit the bottom.

[–] inv3r510n@lemmy.world 1 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

They built housing and aren’t a retirement home for rich boomers who like to ski and golf.

[–] protist@mander.xyz 1 points 3 weeks ago (1 children)

I just looked on Zillow at house prices in Vermont and there are some fucking good deals, but not in the really desirable areas like where you probably want to live

[–] inv3r510n@lemmy.world 1 points 3 weeks ago (1 children)

They’re likely not good deals. They just look good to out of state money.

[–] protist@mander.xyz 1 points 3 weeks ago (1 children)

I'm seeing huge fixer uppers on 2+ acres for sub $250K well outside the main population centers

[–] inv3r510n@lemmy.world 1 points 3 weeks ago

You need to be in vermont to understand how feasible these places are. The work required for any deals is usually major and getting the labor to do it is a long waiting list.