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☆ Yσɠƚԋσʂ ☆@lemmygrad.ml to news@hexbear.netEnglish · 7 months ago

The average age of U.S. homebuyers jumps to 56—homes are 'wildly unaffordable' for young people, real estate expert says

www.cnbc.com

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The average age of U.S. homebuyers jumps to 56—homes are 'wildly unaffordable' for young people, real estate expert says

www.cnbc.com

☆ Yσɠƚԋσʂ ☆@lemmygrad.ml to news@hexbear.netEnglish · 7 months ago
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With home prices up nearly 40% since 2020, buyers are now wealthier and older, making them more likely to outbid younger buyers with all-cash offers.
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  • happybadger [he/him]@hexbear.net
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    7 months ago

    Someone posted the cheapest house in the area recently. It’s $350k~, would require a $90k/year income to get a mortgage, is totally gutted, and has no legal road access. The NIMBYs around here are dead-set on never allowing development over 4 floors with only luxury apartments being built.

    No compassion, no compassion, no excuses shrug-outta-hecks

    • Beaver [he/him]@hexbear.net
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      7 months ago

      Few things politically ACTIVATE suburban voters into a frothing rage like a proposed new apartment complex or light rail extension.

      • SuperZutsuki [they/them]@hexbear.net
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        7 months ago

        It’s so bizarre they think some new transit means poor people are going to come rob them in the middle of the night. Nobody wants to be in your little shithole you fuckin weirdos. But they’ll torture themselves with hour long commutes for decades to make sure they never see a non-white person outside the safety of their suburban assault vehicle.

        • miz [any, any]@hexbear.net
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          7 months ago

          this is why Marin doesn’t have BART, they didn’t want poor people to be able to get there without a really long bus ride.

          • SuperZutsuki [they/them]@hexbear.net
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            7 months ago

            And wtf are poor people going to do other than get profiled and arrested for existing? Poor people aren’t dumb, they’re not going to endanger themselves by entering enemy territory.

            • miz [any, any]@hexbear.net
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              7 months ago

              be seen and make the Marin liberals have to deal with guilt over social murder

        • grysbok@lemmy.sdf.org
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          7 months ago

          I’ve heard similar arguments against sidewalks. Like, no, I just want to be able to walk my dog safely and maybe visit a neighbor without walking in the street.

      • GrosMichel [none/use name]@hexbear.netBanned
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        7 months ago

        Also bike lanes.

      • jjjalljs@ttrpg.network
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        7 months ago

        I think we should raze the suburbs.

        • Parsani [love/loves, comrade/them]@hexbear.net
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          26 days ago

          deleted by creator

    • Parsani [love/loves, comrade/them]@hexbear.net
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      26 days ago

      deleted by creator

  • jack [he/him, comrade/them]@hexbear.net
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    7 months ago

    The Marxist Revolution marx-doomer is getting absolutely STOMPED by Reactionary Settler Land Ownership settlers , this is a bloodbath, the class interest is simply too strong - and oh, lord have mercy, it’s Financial-Capital Landlords! capitalist-laugh They’re shoving Reactionary Settler Land Ownership aside so they can deliver their own sick and twisted punishment! They’ve bought off the referees! contextphobic Somebody throw in the towel before this goes too far! powercry-2

    Wait - can it be? It’s LAND REFORM landlord-spotted with the steel chair! chair-stomp

    • ChaosMaterialist [he/him]@hexbear.net
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      7 months ago

      Wrestling power comes out of the legs of a steel chair. red-sun

    • BGDelirium [he/him]@hexbear.net
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      7 months ago

      Communism needs a push. They’ve been jobber status for the past 30-35 years now. Capitalism keeps getting that unwanted Hogan-Cena push

  • SuperZutsuki [they/them]@hexbear.net
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    7 months ago

    It’s more like the average age is a 37 year old private equity firm founded in the cocaine 80s.

  • driving_crooner@lemmy.eco.br
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    7 months ago

    First or second+ home?

    • jack [he/him, comrade/them]@hexbear.net
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      7 months ago

      Doesn’t differentiate, but my guess would be mostly selling their family home to Blackrock and buying something smaller

    • miz [any, any]@hexbear.net
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      7 months ago

      56 is all home purchases. the average age of first-time buyers is 38, and of repeat buyers is 61:

      The median first-time buyer age increased to 38 years old this year from 35 last year, while the typical repeat buyer age also increased to 61 years from 58 last year.

      you can find the full report here (linked in article)

      https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers

  • JayTreeman [none/use name]@hexbear.net
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    7 months ago

    I’m laughing in Canadian

    • ☆ Yσɠƚԋσʂ ☆@lemmygrad.mlOP
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      7 months ago

      haha yeah Canada is on a whole different level

      • JayTreeman [none/use name]@hexbear.net
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        7 months ago

        It’s funny because there’s this relationship where the Canadian government doesn’t try to improve an issue because the USA is worse, but this one issue is reversed

        • ☆ Yσɠƚԋσʂ ☆@lemmygrad.mlOP
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          7 months ago

          lol yup

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