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Why is the number of first-time US homebuyers at a generational low? (www.theguardian.com)
submitted 1 year ago by to c/usa@midwest.social
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[–] 23 points 1 year ago (3 children)

I’m not paying 500k for a “fixer upper” in a shitty neighborhood that sold for 50k 10 years ago.

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  • [–] 9 points 1 year ago (1 child)

    When we were looking a few years ago, the only thing under $250k was a house built in 1897 that shared the property line with a hoarder shed that had a family of raccoons going in and out while we were looking at it in the middle of the day.

    It's either that, the $500 fixer-upper, or the $800k new construction. And I'm in the Midwest, not even in a high COL area.

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  • [–] 7 points 1 year ago

    Affordability is one thing. On the other hand, I think that housing is ridiculously overvalued. No way that a piece of junk is worth half a million. I just can’t stomach what appears to be putting my money in a hole and setting it on fire.

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