this post was submitted on 03 Nov 2024
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Mildly Infuriating

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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

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[–] [email protected] 10 points 6 months ago

Houses in my neighborhood are up 150-200%.

[–] [email protected] 9 points 6 months ago

Didn't think I'd ever see Waleska on Lemmy... but, yeah. This is just the story all over North Georgia right? No one wanted to live in the mountains until all of the sudden you could work from anywhere. Now everyone earning city and suburb pay is happy to live an hour farther out than they were before.

[–] [email protected] 9 points 6 months 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.

[–] [email protected] 8 points 6 months 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.

[–] [email protected] 5 points 6 months 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.

[–] [email protected] 6 points 6 months ago

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

[–] [email protected] 5 points 6 months ago (11 children)

The answer is to go somewhere cheaper. If you go far enough out of town the prices will go down.

Plus when the town grows your property value will go up and up.

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[–] [email protected] 5 points 6 months ago

:laughs in Australian:

[–] [email protected] 4 points 6 months ago (3 children)

Work from home is the ultimate culprit.

A. People can migrate and buy in cheaper parts of the country and maintain jobs that would have required them to stay in a certain geographical area in the past.

B. Work from home has gutted the commercial real estate market. Leading investors to move into the home market. You’re going to see a lot of money flow into single family homes to rent over the next ten years.

You’re now competing against established professionals who are later on in the careers and institutional investors.

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