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Ultimate Clemson Legend [103538]
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A post for IE
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Mar 21, 2024, 12:56 PM
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This isn't going to be a crash, it's going to be a long period of paralysis in housing.
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Clemson Sports Icon [57309]
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meh. It's not that different when you factor in mortgage rates
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Mar 21, 2024, 1:17 PM
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Ultimate Clemson Legend [103538]
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Except you have to account for income not going up
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Mar 21, 2024, 1:28 PM
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And market values doubling in the last 10 years. Other than that, yeah, rates are not that high historically, but they're at records relative to income and house price.
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All-Time Great [97094]
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Clemson Sports Icon [58121]
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Those numbers must not be adjusted for inflation.
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Mar 21, 2024, 1:35 PM
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$23,620 in 1985 is $69,478 today.
$83,200 in 1985 is $244,731 today.
There's still an issue there, but it's not as extreme as the graph suggests.
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All-Time Great [97094]
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Fixt it
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Mar 21, 2024, 1:56 PM
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Can anyone see that? idk,
It says in 1985 you needed 9.93 annual incomes to buy a median home.
It says in 2022 you needed 12.60 annual incomes to buy a median home.
This all based on an avg 30 year conventional mortgage and the numbers posted earlier.
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TigerNet Champion [112943]
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Can you add a column for 5/1 ARM and a column for 15 year mortgages?
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Mar 21, 2024, 2:04 PM
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Also, can you run these same numbers for every 5 years so we can gather the trends and see if this has been building since 1985 or if it is sudden. Lastly, put it on some really pretty data graphic. On my desk by 2:30 work for you?
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All-Time Great [97094]
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Done
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Mar 21, 2024, 2:11 PM
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TigerNet Champion [112943]
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Exactly what I thought
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Mar 21, 2024, 2:12 PM
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Pirating is going to save the world.
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Ultimate Clemson Legend [103538]
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Hall of Famer [8968]
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Wow. It looks like 2006-2012 was a great time to buy a home!
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Mar 21, 2024, 2:19 PM
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You can tell because those years are in green. No other context needed.
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Ultimate Clemson Legend [103538]
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Bought ours in 2012. Refinanced in 11/2021.
Mar 21, 2024, 4:20 PM
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And now I can't afford to sell the thing. Go figure.
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Ultimate Tiger [36144]
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What does that look like at cost per sqft?
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Mar 21, 2024, 2:09 PM
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Starter homes today look far different than they did 20 some odd years ago.
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All-Time Great [97094]
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excellent point, 1985 was 1650 sqft
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Mar 21, 2024, 2:13 PM
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2022 was 2522 sqft. So it should cost 1.5X more to build.
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50
