Housing Market Slows, as Rising Prices Outpace Wages

[hashmander]

I was talking to my landlord tonight. Me and my brother are thinking of buying the house we are in with the fam so that we pay lower than the current rent. Other option is to find a new place for lower rent. But it sucks not having an asset. But it would suck buying and then another crash...

But my landlord mentioned the economy and what happened 10 years ago. He himself is also thinking of buying a new house and is unsure.

The prime time to buy was 2009-2011 wish me and my siblings weren’t in college and high school then.

yeah 2009-11 was the best period for a young person looking to get their start in home ownership. i bough a condo in downtown orlando and then a house a little later.

 

[DEAD7]

I live in Charlotte. One of the places always brought up in these lists along with Raleigh.

There are jobs. Housing is still an issue here.

Any place where people are moving the prices are rising. I'm not sure what empty point you're attempting to make.

You made the 'no jobs' comment, but it doesnt look like job outlook is the main driver...
It seems people want to live near the coast regardless of cost and job outlook with Colorado, Minnesota and Utah currently having the best job markets

You're argument is kinda flawed though. You mention NY and Cali, I can't speak for Cali. But in NYC the job market is very healthy, the rest of the state maybe not so much. You mention people are flocking to NY even though the job market isn't strong, people aren't flocking to NY, they're flocking to NYC.

Newsday | Long Island's & NYC's News Source | Newsday

This is news to me... my question would be can someone live off of a retail wage(mentioned in the article) in NYC?

That sums up the challenge that New York poses for young college grads. The city’s devilishly competitive job market — it has the 18th highest unemployment rate for those in their early 20s and the 12th highest for graduates — makes the prospect of landing that first job daunting.

But the rewards can be enormous for those who manage to gain a foothold. New York comes in No. 1 for career advancement potential.

 

[BillBanneker]

That junk confused the crap out me before I left.

The amount of housing should have been on target with all the construction. But I didn't remember there being the amount/kinds of jobs to guarantee those outrageous prices. $1000 apartments/studios in food deserts just because the northern extension was planned to go by there.

The same thing here in (my area) Tennessee. The job market is "healthy", but housing here was way way behind demand. And add all the people now moving here, So now you have a bunch new apts/condos that cost $1100-1250 a month and homes are pretty much tight, so you might as well look for new construction.

 

[☑︎#VoteDemocrat]

time to eat

 

[Pressure]

You made the 'no jobs' comment, but it doesnt look like job outlook is the main driver...
It seems people want to live near the coast regardless of cost and job outlook with Colorado, Minnesota and Utah currently having the best job

Of those 3 only Minnesota is in the Midwest.

CO has similar housing issues in the places where the job market is booming.

No one is moving to Utah if they have a choice.

 

[el_oh_el]

Supply and demand...
Midwest homes far from the coast still cheap as shyt.

Far from the jobs too
Edit:beaten to it

 

[the cac mamba]

Cop mad property when this selfish market crashes.

ive got 150 lined up to pounce when the time is right

 

[Capital Steez]

Should I wait on trying to secure a condo by Oct. '19?

 

[88m3]

Manhattan Buyers’ Market Widens

 

[88m3]

Should I wait on trying to secure a condo by Oct. '19?

Probably.

I'd wait till after tax return time

a bigger deal than interest rates will be the changes to the tax code and salt

 

[Mook]

I can't find a one bedroom for under 800 in Raleigh. It's crazy.

 

[DEAD7]

Is there a statist solution to this?

 

[Wild self]

Is there a statist solution to this?

Reduce the population by having less babies. All the metro areas in America are running out of land to function properly.

 

[DEAD7]

Reduce the population by having less babies. All the metro areas in America are running out of land to function properly.

I'm sure the right can twist this solution into an anti immigrant argument.

 

[Wild self]

I'm sure the right can twist this solution into an anti immigrant argument.

More like eugenics on a smaller scale. On some 2 child limit policy like China.