this post was submitted on 03 Nov 2024
602 points (98.4% liked)

Mildly Infuriating

35403 readers
543 users here now

Home to all things "Mildly Infuriating" Not infuriating, not enraging. Mildly Infuriating. All posts should reflect that.

I want my day mildly ruined, not completely ruined. Please remember to refrain from reposting old content. If you post a post from reddit it is good practice to include a link and credit the OP. I'm not about stealing content!

It's just good to get something in this website for casual viewing whilst refreshing original content is added overtime.


Rules:

1. Be Respectful


Refrain from using harmful language pertaining to a protected characteristic: e.g. race, gender, sexuality, disability or religion.

Refrain from being argumentative when responding or commenting to posts/replies. Personal attacks are not welcome here.

...


2. No Illegal Content


Content that violates the law. Any post/comment found to be in breach of common law will be removed and given to the authorities if required.

That means: -No promoting violence/threats against any individuals

-No CSA content or Revenge Porn

-No sharing private/personal information (Doxxing)

...


3. No Spam


Posting the same post, no matter the intent is against the rules.

-If you have posted content, please refrain from re-posting said content within this community.

-Do not spam posts with intent to harass, annoy, bully, advertise, scam or harm this community.

-No posting Scams/Advertisements/Phishing Links/IP Grabbers

-No Bots, Bots will be banned from the community.

...


4. No Porn/ExplicitContent


-Do not post explicit content. Lemmy.World is not the instance for NSFW content.

-Do not post Gore or Shock Content.

...


5. No Enciting Harassment,Brigading, Doxxing or Witch Hunts


-Do not Brigade other Communities

-No calls to action against other communities/users within Lemmy or outside of Lemmy.

-No Witch Hunts against users/communities.

-No content that harasses members within or outside of the community.

...


6. NSFW should be behind NSFW tags.


-Content that is NSFW should be behind NSFW tags.

-Content that might be distressing should be kept behind NSFW tags.

...


7. Content should match the theme of this community.


-Content should be Mildly infuriating.

-At this time we permit content that is infuriating until an infuriating community is made available.

...


8. Reposting of Reddit content is permitted, try to credit the OC.


-Please consider crediting the OC when reposting content. A name of the user or a link to the original post is sufficient.

...

...


Also check out:

Partnered Communities:

1.Lemmy Review

2.Lemmy Be Wholesome

3.Lemmy Shitpost

4.No Stupid Questions

5.You Should Know

6.Credible Defense


Reach out to LillianVS for inclusion on the sidebar.

All communities included on the sidebar are to be made in compliance with the instance rules.

founded 1 year ago
MODERATORS
 

My salary didn't change at all, but homes went up 82%. The money I saved for a down payment and my salary no longer are good enough for this home and many others. This ain't even a "good" home either. It was a 200k meh average ok home before. Now it's simply unaffordable

top 50 comments
sorted by: hot top controversial new old
[–] ByteOnBikes@slrpnk.net 1 points 11 hours ago

In my area, it's a 100-150% increase in four years.

It doesn't sound like much until you see numbers.

A $350k house is now $700k for no reason.

A $400k house is now a million.

It's depressing.

[–] socsa@piefed.social 12 points 1 day ago (2 children)

Not that this is "ok" but it's why "buy whatever you can as soon as you can" is good advice. If you'd put whatever you had into a shitty condo four years ago, and kept saving at the same rate, you'd likely be in good position to trade up soon.

I see a lot of people I know end up in the same position because they've been waiting for either the exact right circumstances or for prices to "crash." All the people i know who started with anything they could afford now have a huge amount of equity in nice homes. The difference is real and primarily about timing more than income or location.

[–] EatATaco@lemm.ee 8 points 1 day ago (1 children)

I bought 5 years ago when it was still reasonable. I have a great rate on a great house that has increased by about 50% since I bought it.

I don't want to, because this is just about the perfect size house for us in a great location, but I can't really "trade up" as the interest rates are through the roof and everything is more expensive too.

[–] 667@lemmy.radio 1 points 23 hours ago

If your circumstances change, you can make a lateral move and invest the net profit in an index fund.

[–] michaelmrose@lemmy.world 8 points 1 day ago

I think you misunderstand. He didn't have the financial wherewithal to acquire a home of any sort because a down payment was expected even of the shitty condo. He didn't have the money then he doesn't have the money now he's on the same shitty treadmill that the rest of us in the permanent underclass are.

[–] SplashJackson@lemmy.ca 28 points 1 day ago (2 children)
[–] socsa@piefed.social 9 points 1 day ago (1 children)

No rich person is living in a 325k ranch house.

load more comments (1 replies)
[–] TheReturnOfPEB@reddthat.com 14 points 1 day ago* (last edited 1 day ago)

Best hurry ... Ozempic is destroying the caloric benefit

[–] sleepmode@lemmy.world 34 points 1 day ago

I like the utility feed hanging off the front of the house going straight through the roof and blocking them from installing the other fake shutter. I wonder what other construction horrors lurk inside.

[–] Thebeardedsinglemalt@lemmy.world 19 points 1 day ago (1 children)

This is everywhere. I've been looking for houses for 3 months in NW Ohio. 300k is the new 150k, and all the houses are beat to shit on the inside needing 50k just to make them passable inside because nobody takes care of them.

[–] Soleos@lemmy.world 6 points 1 day ago (4 children)

I wonder what proportion of it is also due to people fleeing 1 million + average house markets during the pandemic work from home wave. Not saying this about you, but it makes me think it's funny how the common refrain of "Don't like it? Just move" is often uttered by NIMBYs.

load more comments (4 replies)
[–] curiousaur@reddthat.com 5 points 1 day ago

That's cheap as hell compared to California. And I work remote from anywhere I want. Thanks for the tip!

[–] yessikg@lemmy.blahaj.zone 12 points 1 day ago (1 children)

This is because venture capitalists are buying all the homes to rent

[–] WhatYouNeed@lemmy.world 3 points 1 day ago

Said it before: no corporation except non-profits focusing on housing should own retail property.

[–] Jackthelad@lemmy.world 106 points 2 days ago (5 children)

You just need to stop watching Netflix and buying avocado toast.

At least that's what old people say anyway.

load more comments (5 replies)
[–] jj4211@lemmy.world 12 points 1 day ago (2 children)

So occasionally I look out of curiosity and the reason is pretty plain.

I look for houses for sale in a suburban area as public listings, and there's like 1 within a few square miles of the area.

I switch over to renting, and there's like 12 houses just like the one for sale available, all owned by companies. I also know a coule that aren't listed that have no tenants, but are still owned by one of those companies. You can tell because those yards are now waist deep grasses (in an area where HOA throws a hissy fit if your yard looks just a smidge unkempt).

Don't know why the companies find it more profitable to buy houses people aren't looking to actually move into, at least at the rent they are willing to accept. If I fully understood why, it might just piss me off more. Like maybe the houses work better as a loan basis than other assets, so even empty and unused they are valuable as some sort of financial trick.

[–] WingedObsidian@sh.itjust.works 1 points 14 hours ago

My understanding is that these companies are investment companies that need stable assets for their billions of dollars portfolios and they actively look to keep buying property as a stable form of appreciating asset. They have so much money that needs to find some way to make more money for their investors.

[–] Semi_Hemi_Demigod@lemmy.world 10 points 1 day ago

Don’t know why the companies find it more profitable to buy houses people aren’t looking to actually move into, at least at the rent they are willing to accept. If I fully understood why, it might just piss me off more. Like maybe the houses work better as a loan basis than other assets, so even empty and unused they are valuable as some sort of financial trick.

That's one thing, but housing has been a low-risk investment for a long, long time. If they bought the house OP posted in 2020 and sold it in 2024 they would have almost doubled their money even without renting it out.

[–] PriorityMotif@lemmy.world 48 points 1 day ago (1 children)

A lot of boomers are going to die in the next ten years or so. That is the biggest age demographic in the u.s. the population is going to shrink by a lot. That's why there's a push to make people have more kids, because otherwise workers and consumers have a lot more power.

[–] rauls4@lemm.ee 59 points 1 day ago (5 children)

Private equity is already gobbling up the houses. Boomers are cashing in to finance extravagant retirement. Those who are not, are leaving it to their children who will then sell to private equity groups.

load more comments (5 replies)
[–] rbesfe@lemmy.ca 10 points 1 day ago (7 children)

A 1200 sqft bungalow near me just sold for 1 million Canadian rubles

load more comments (7 replies)
[–] TheObviousSolution@lemm.ee 15 points 1 day ago

This won't change as long as property ownership and property renting is unified. There's just to much of a business incentive from renting, even if it takes decades to make it back. Worst that can happen is that it can sell it back to a market that criminalizes homelessness instead of treating it or its causes.

[–] AstridWipenaugh@lemmy.world 9 points 1 day ago

Yep, that's on track! My house has almost tripled in price since I bought it 12 years ago. Denver metro. No way I could afford it if I had to buy it today.

[–] localhost443@discuss.tchncs.de 6 points 1 day ago (6 children)

Also here in Europe this is the type of construction we use for a garden shed, not a house.

Even when we do modern timber frame, it's generally still brick or block at the bottom. How long do these houses last in the US? I imagine a lot of the continent is pretty humid

[–] XeroxCool@lemmy.world 3 points 23 hours ago

Timber frames are sheathed in treated plywood and then wrapped in siding. Rain doesn't reach the wood of a barely-maintained house, exterior humidity won't do damage in any hurry, and wood is rarely making ground contact. These houses last at least a hundred years given that this style is approaching 100 years. It's usually storm damage through the roof that causes the rotted wood you're imagining, not normal wear and tear.

[–] ayyy@sh.itjust.works 12 points 1 day ago

It’s a good thing you aren’t a building engineer.

[–] UnpledgedCatnapTipper@lemmy.blahaj.zone 10 points 1 day ago (2 children)

My parents' timber house is from the 1780s and is still solid. So, 240 years at least, give or take. I'm aware of plenty of timber houses from the 1600s that are still standing and functional as well.

load more comments (2 replies)
[–] pendulous@lemmy.world 6 points 1 day ago

When wood is properly sealed up in walls, it lasts a very long time. We don't really have buildings on an old world timescale, but we do still have colonial wood frame buildings.

load more comments (2 replies)
[–] w3dd1e@lemm.ee 11 points 1 day ago* (last edited 1 day ago)

It’s the same in Kansas City. I just checked a random house in my city and it’s up almost $100k in 4 years.

3bd, 1bath 976 sqft

[–] PoTayToes@sh.itjust.works 23 points 1 day ago (3 children)

Tbh this is more than mildly infuriating...

load more comments (3 replies)
[–] JoMiran@lemmy.ml 43 points 2 days ago* (last edited 2 days ago) (5 children)

A house in Austin

2018: $275,000
2022: $725,000

Those are actual numbers from East Austin. I believe the 2024 market rate is $625,000 but it hasn't changed hands again so I can't say for certain.

load more comments (5 replies)
[–] bassomitron@lemmy.world 7 points 1 day ago (1 children)

Keep in mind that inflation has risen over 30% in just the last 4 years, which explains at least part of the rise in prices. I wouldn't be surprised if inflation is even higher in certain areas of the country. I'd also not be surprised if Georgia is getting a lot of natural disaster refugees from places like Florida.

[–] 11111one11111@lemmy.world 5 points 1 day ago

The other part i don't see anyone mentioning is that this was all projected as a result of millennial generation, the largest % of population by generation comparison, came into the age of buying homes. Creating a sharp spike in demand over supply.

load more comments
view more: next ›