General Discussion

The Velveteen Ocelot

(131,052 posts)

2. Asked a friend who is a real estate agent about this -

Mon Nov 3, 2014, 04:08 PM

Nov 2014

He thinks it's for a few reasons: The foreclosure and short sales have been mostly used up; the pent-up demand for houses has been somewhat satisfied now that the economy has started to recover; and (most worrisome) a lot of younger people just can't afford to buy houses because they are buried in student loans and can't find good jobs.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

49 replies

= new reply since forum marked as read

Highlight:

First-time home buying hits lowest level in nearly three decades [View all] steve2470 Nov 2014 OP

I will never own a home... PasadenaTrudy Nov 2014 #1

Think trailer Warpy Nov 2014 #4

I love my apt.... PasadenaTrudy Nov 2014 #9

Trailers in northern climates suck for heating, though NickB79 Nov 2014 #31

You have to pay attention to zone when you buy Warpy Nov 2014 #34

I'll never own either tabbycat31 Nov 2014 #41

Exactly PasadenaTrudy Nov 2014 #49

I rented for a long time and it's most assuredly less stressful most of the time scarystuffyo Nov 2014 #12

I don't make enough money PasadenaTrudy Nov 2014 #15

I read your post after scarystuffyo Nov 2014 #17

I'd have to move PasadenaTrudy Nov 2014 #18

Just to give you a laugh... PasadenaTrudy Nov 2014 #20

incredible nt steve2470 Nov 2014 #21

Lol, here's another, a recent sale PasadenaTrudy Nov 2014 #32

even more incredible steve2470 Nov 2014 #35

Such a difference PasadenaTrudy Nov 2014 #37

That's crazy scarystuffyo Nov 2014 #24

This is why I hate it here PasadenaTrudy Nov 2014 #25

No way would I buy waterfront now n2doc Nov 2014 #44

That house probably would not sell for 175k here. Travis_0004 Nov 2014 #28

I believe it PasadenaTrudy Nov 2014 #29

My daughter and son-in-law live in Los Gatos Adsos Letter Nov 2014 #38

San Francisco.... n2doc Nov 2014 #45

SF is the craziest PasadenaTrudy Nov 2014 #48

I would love to own one of the tiny homes that are gaining in popularity. AngryAmish Nov 2014 #43

Asked a friend who is a real estate agent about this - The Velveteen Ocelot Nov 2014 #2

I think your last point is very important steve2470 Nov 2014 #3

I think it's the last factor more than the first two Warpy Nov 2014 #5

DTI is a killer for a lot of people SoCalDem Nov 2014 #36

I think they saw everyone get screwed during Bush's sub-prime/recession disaster. tridim Nov 2014 #6

CA is crazy as ever... PasadenaTrudy Nov 2014 #7

yep, that's why I didn't move to CA nt steve2470 Nov 2014 #8

I'm just here by default PasadenaTrudy Nov 2014 #11

People ask to rent my house all the time madville Nov 2014 #10

Inability to pay hits highest level in 30 years. hobbit709 Nov 2014 #13

who has the money to buy a home these days? Marrah_G Nov 2014 #14

And money to fix things, PasadenaTrudy Nov 2014 #16

You have it right. The problem is low wages. Skeeter Barnes Nov 2014 #27

First-time buyers need modest, more affordable "starter homes." We're not building those anymore. Gidney N Cloyd Nov 2014 #19

good post ! nt steve2470 Nov 2014 #22

In my town PasadenaTrudy Nov 2014 #23

Pasadena's media household income is $67,920, almost the same as my town near Chicago. Gidney N Cloyd Nov 2014 #26

I'm in PasadenaTrudy Nov 2014 #30

Well, let's face it, not all towns are where you look for starter homes. Gidney N Cloyd Nov 2014 #33

Well said! People have come to expect a lot more house now. WHen I was a kid, I knew raccoon Nov 2014 #46

IMO, it's the new life style, temp labor and no job security. Under 30's are living out of a go bag. CK_John Nov 2014 #39

Yeah.. PasadenaTrudy Nov 2014 #40

In the boston metro area starter homes are around 400K. Warren Stupidity Nov 2014 #42

Owning a home is not what it used to be in many respects. kelliekat44 Nov 2014 #47