Home Buying / Housing Market Griefing Thread - You're going to rent until you die.

[1440p Curved Monitor]

Undoubtedly the biggest truth in this thread. My partner and I are already having this discussion in the context of my ageing parents (his are in another state). One of the biggest influencing factors in this is something a lot of folks overlook: child care.

Costs in our city are currently sitting at $120/day. Aside from us being lucky enough to both love our jobs, there's no way we could afford one of us (likely me, Mommy) to stay home full time. Then we'd be renting forever. So if we try and juggle childcare costs AND mortgage costs on a shitty 2 bed apartment... nah that ain't it for me.

My folks own their lovely suburban home outright (bought in the 90s for a song, its appraisal now is insane). We've had the privilege of being able to go back there when we need it, and always planned to do so when saving/renovating. But now with the discussion of babies in the mix, finding a space for all of us for the future has become the number one priority. We're even researching architects that specialise in the design of multigenerational homes that allow everyone their own 'space.' And look, if Grandma and Grandpa can help offset some (certainly not all, just some) of the childcare costs... that's just icing on the cake.

I have zero embarrassment about this. Some friends are like 'wait you wanna live with your parents again?' Hell yeah I do. It's such a WASPY knee jerk reaction that. The Latinos/Asians/hundreds of other cultures absolutely have it right. Here's the feelsfag bit: we're a family that not just loves each other... we fucking like each other. Which is a total blessing, I get it.

I mean my brother and his wife are now asking to be brought into this mix! I don't know if that's a reality yet but imagine... 4 adults earning pretty decent wages. 2 seniors sitting on a few $mil of property equity. Our kids living next door to their cousins. My folks living out their golden years surrounded by their people, not in some sterile apartment/retirement home.

Sounds pretty fucking idyllic to me.

God yes, my partner and I are thinking of the same. My grandparents lived next door to my during my childhood so it's ideal. Our situation is different though because he is the only child of a widowed woman and I am disowned, so we basically have no family to build this with. He likes the idea of buying a large house and paying off the mortgage via renting, but I despise living with random people. So we thought of a middle ground.
We're considering buying a plot of land somewhere and building a shitton of tiny/small homes on it. We then rent the homes to couples or young families, build a larger community center, and make a community. Ideally we'll be very strict on who comes in (the first rule we thought of was no troons) and required members to contribute to the land somehow. It'll be tricky with figuring out zoning laws, but I'm sure somewhere in America will allow this. I remember some kiwi mentioning a memoir about running a commune and how to kick those freeloaders out.

 

[Netizennameless]

I meant to say rent out a room in your house, not renting a room yourself. Apologies, that wasn't as clear as I thought when I typed it lol.

Oh i 100% agree on that.

 

[plgfarts]

This is the American Dream.

On that same note, marriage is a huge indicator of future success for the reason you mentioned. 2 rents become 1, and eventually become 1 mortgage. Same with a lot of other expenses like utilities. That allows for saving, which is the key to security.

Very true. Before marriage, I was barely able to pull enough money for rent and bills. After, we are able to save ~$2,000 a month. We both make the same amount of money, so doubling the household income is fucking awesome.

Marriage and budgeting are godsends. Now, just the waiting until the bubble bursts or market crashes to scoop up a house or two and a nice plot of hunting land up north.

 

[Snack Cracker]

Probably in the minority but my partner and I bought a home even in this market because rent is stupid high here, might as well pay for a mortgage anyways.

Really the biggest factor is where we live there’s going to be a huge manufacturing and tech facility in a few years that’s absolutely going to drive up housing prices with the thousands of skilled careers there.
Wanted to buy a home before that happens and the bubble gets larger.

 

[No Batty Boys in Jamaica]

Outside of a few specific areas*, there is about to be a reckoning with the housing market. So many people with cash are doing FOMO-driven home purchases and overpaying. Home values are not supposed to fluctuate like they're fucking bitcoins, so when the prices do fluctuate, it means something fucky is happening. The institutionals buying up rentals may seem like experts who know what they're doing, but so were the kikes who did the 2008 crash with Fannie and Freddie. It might seem like your last chance to buy a house before the Great Reset happens and everyone is a rent slave. However, you could just as easily be in a worse situation- someone with a worthless home in 2025.

*In these specific areas*, an influx of skilled workers due to new employment, and healthcare workers due to hospital consolidation, will mean only a modest decrease instead of a full blown crash when the chips are in. Mainly a few states in the sun belt that used to have industry, and new industry is coming back due to globalization finally declining a little. A new Tesla plant or Apple campus, or Amazon offices will indeed drive up home values. So will a massive hospital expansion. If you live in one of these markets and aren't a yuppie or boomer, you need to move after the crash happens and carpetbag one of the places that did crash.

 

[eternal dog mongler]

I think the US (and Canada) is on the cusp of a real cultural shift on this topic so there are some bizarre growing pains. With the exceptions of those who grinded hard or had rich parents, most of my friends either rent or live with parents. The former's living arrangement might be enough of a financial burden that they cannot enjoy themselves on the weekend, and the later keeps it on the down low in public that they live with their parents. The end result of this, either from lack of discretionary income or shame/inconvenience is that young people just do less stuff in person, covid and increased use of communicating online didn't help, so mental health deteriorates even in the best of them. There's a lie that people can fix this by moving closer to downtown or the next big city, but if they do so don't have the cash or free time to take advantage of where they are.

It's weird because in the poor, rural community I grew up in there was no real stigma against people living with family, or even their friend's family for that matter. As a result I've never had anything against intergenerational households and fuck it, free childcare because it's not like grandma has anything better to do anyway.

It's honestly a good model assuming you get along with your family.

 

[Law]

Very true. Before marriage, I was barely able to pull enough money for rent and bills. After, we are able to save ~$2,000 a month. We both make the same amount of money, so doubling the household income is fucking awesome.

Marriage and budgeting are godsends. Now, just the waiting until the bubble bursts or market crashes to scoop up a house or two and a nice plot of hunting land up north.

I make less after getting married lmao.
Part of it is cause I moved countries. Still funny though.

 

[Depths of Homolust]

I make less after getting married lmao.
Part of it is cause I moved countries. Still funny though.

I guess what matters is your purchasing power. If you take a 50% pay cut after moving to Rwanda you're still making a pile of money. If you take a 50% pay cut after moving to Switzerland then you've fucked up.

 

[Law]

I guess what matters is your purchasing power. If you take a 50% pay cut after moving to Rwanda you're still making a pile of money. If you take a 50% pay cut after moving to Switzerland then you've fucked up.

It was America. So I get parts of it that feel Switzerland, and parts that feel like Rwanda.

 

[No Batty Boys in Jamaica]

It's weird because in the poor, rural community I grew up in there was no real stigma against people living with family, or even their friend's family for that matter. As a result I've never had anything against intergenerational households and fuck it, free childcare because it's not like grandma has anything better to do anyway.

It's honestly a good model assuming you get along with your family.

The people/groups who want you to move out the most are landlords, credit card companies, banks, and staffing firms.
So much of what is considered "normal" was established by returning WW2 vets, who had the GI Bill on their side.

Shit has changed so much since then and I hope that instead of grinding harder like Poojeets and Chinks, there's just a cultural shift where you're not considered a failure if you don't move out right after finishing college. Bugmen pull it off by having 20 people live in a single slumlord-owned apartment. It'd really fuck up companies like Blackrock, Berkshire Hathaway, Tricon Residential, etc, if everyone pulled a page out of the nigger/white trash playbook instead and lived with grandmama (except instead of trapping and going on welfare, the goal is to work a few years to get in a good position for buying a house). This is how people do it in Jamaica, except for the batty bwoys who can't live at home lol.

And yes the free childcare part is so good if grandma is up for it. Otherwise your kids might end up watching Amogus Finger Family and Cocomelon all day.

 

[NoReturn]

The people/groups who want you to move out the most are landlords, credit card companies, banks, and staffing firms.
So much of what is considered "normal" was established by returning WW2 vets, who had the GI Bill on their side.

Shit has changed so much since then and I hope that instead of grinding harder like Poojeets and Chinks, there's just a cultural shift where you're not considered a failure if you don't move out right after finishing college. Bugmen pull it off by having 20 people live in a single slumlord-owned apartment. It'd really fuck up companies like Blackrock, Berkshire Hathaway, Tricon Residential, etc, if everyone pulled a page out of the nigger/white trash playbook instead and lived with grandmama (except instead of trapping and going on welfare, the goal is to work a few years to get in a good position for buying a house). This is how people do it in Jamaica, except for the batty bwoys who can't live at home lol.

And yes the free childcare part is so good if grandma is up for it. Otherwise your kids might end up watching Amogus Finger Family and Cocomelon all day.

There's a question. How much easier/more difficult would life be for those without families in such a situation if it were the norm? Would they find it harder to survive, or would the lack of competition give them an edge?

 

[eternal dog mongler]

Shit has changed so much since then and I hope that instead of grinding harder like Poojeets and Chinks, there's just a cultural shift where you're not considered a failure if you don't move out right after finishing college. Bugmen pull it off by having 20 people live in a single slumlord-owned apartment. It'd really fuck up companies like Blackrock, Berkshire Hathaway, Tricon Residential, etc, if everyone pulled a page out of the nigger/white trash playbook instead and lived with grandmama (except instead of trapping and going on welfare, the goal is to work a few years to get in a good position for buying a house). This is how people do it in Jamaica, except for the batty bwoys who can't live at home lol.

It's also a good learning experience for your kids. Grandma's caring for you, and then when her brain doesn't work too great anymore we'll care for her and not shove her into a nursing home to be pumped full of chemical restraints and neglected. Yeah it might be inconvenient for us but that's what family does.

There will be a reckoning anyway as millenials start to see how much nursing homes cost and consider that aging in place might be a good financial option overall...

 

[No Batty Boys in Jamaica]

It's also a good learning experience for your kids. Grandma's caring for you, and then when her brain doesn't work too great anymore we'll care for her and not shove her into a nursing home to be pumped full of chemical restraints and neglected. Yeah it might be inconvenient for us but that's what family does.

There will be a reckoning anyway as millenials start to see how much nursing homes cost and consider that aging in place might be a good financial option overall...

Yeah but also there is a huge generational gap between millennials and their parents and many would love to see their parents rot in a nursing home. Others work 80 hours a week grinding for Mr. Noseberg and don't have time. Those types are also in a hurry to GTFO their hometown and possibly state. There's a significant part of the population that thinks that not only is moving out at 23 necessary, but you also have to leave your hometown. Urban landlords just *love* that idea of a rite of passage to not be a townie. Boomers had fewer kids than their own parents, so there's less of a chance that at least one kid stays behind to take care of them. There's a reason the people who control society focus so much on destroying the family. Because without a family, you're more dependent on society for your survival.

And then there's Chris...

 

[Gig Bucking Fun]

Wait until the housing market crashes and houses go for cheap, its coming.

IMO it depends where you live. Florida, for example, is at an all-time high, but it also has an unprecedented amount of migration from other states which supports its growth. States like California, though, have fever-pitch prices with a dwindling population.

Florida housing market is making a floor at a new high, California housing market is in a big bubble.

 

[NoReturn]

Oh boy! It's NoReturn's anecdotes time!
I won't PL and tell you guys where these stories come from, but I tell them because I want you guy's thoughts on them:

It's also a good learning experience for your kids. Grandma's caring for you, and then when her brain doesn't work too great anymore we'll care for her and not shove her into a nursing home to be pumped full of chemical restraints and neglected. Yeah it might be inconvenient for us but that's what family does.

Story 1: WWII generation grandparents decided they didn't want to live with their children. Moved to a state as far away from them as possible but that also let them afford a decent retirement colony until they died.

There will be a reckoning anyway as millenials start to see how much nursing homes cost and consider that aging in place might be a good financial option overall...

Story 2: Boomer with triplex is planning to die in it but won't let family move in. Has renters in the other two units for income.

Yeah but also there is a huge generational gap between millennials and their parents and many would love to see their parents rot in a nursing home.

Story 3: Boomer mom waited until daughter bought a home with her husband, and is now asking to move in to "Save money" but has made it clear she "just wants to rent a room to save money for a down payment on her own home" and has no intention of providing childcare.

 

[eternal dog mongler]

Story 2: Boomer with triplex is planning to die in it but won't let family move in. Has renters in the other two units for income.

Eaten by her cats? Hell if I know.

Medicaid reimbursement rate for nursing homes here (which is the absolute floor) is around $7.5k/mo. If you're private pay at a nice one you're probably looking at $10k/mo. Good luck renting out enough shit to cover that. I guess potentially she could hire a home health aide and have her live in one of the units.

 

[NoReturn]

Medicaid reimbursement rate for nursing homes here (which is the absolute floor) is around $7.5k/mo.

I had no idea! So she's probably planning on the live-in aid idea, then, isn't she?

 

[eternal dog mongler]

I had no idea! So she's probably planning on the live-in aid idea, then, isn't she?

Yeah, that's going to be the least expensive way, even if you have to make renovations to your home to make it more livable like installing a walk-in tub.

Something that I rarely hear people bring up is that a lot of middle-class millenials are going to be screwed out of inheriting a home simply due to nursing home costs.

 

[NoReturn]

Yeah, that's going to be the least expensive way, even if you have to make renovations to your home to make it more livable like installing a walk-in tub.

Something that I rarely hear people bring up is that a lot of middle-class millenials are going to be screwed out of inheriting a home simply due to nursing home costs.

Cheap shot, but: What inheriting?

 

[eternal dog mongler]

Cheap shot, but: What inheriting?

Might be true, I think the new boomer thing to do is to take out a HELOC and just live like a fucking king or queen during retirement fuck the consequences.