How hard is it to buy a house in the US right now with current prices?

[Bilak845678]

Hard

Not hard

[SeekerOfTruth007]

Unless you're in the upper third of income earners, building or buying a new house is nigh to impossible right now.

One of my distant cousins who works in a plant job just built a new house, and he already owned the land, and spend 285,000 dollars on the house itself (in Louisiana where materials are "cheap" and land is cheap too compared to the nation). The house is not even as big as the ones my parents were able to build for 60K just 20 and 30 years ago respectively.

It's hyper-inflation, and the sick thing is materials is only a tiny part of it. You have to pay trade workers so much because hey, they are skilled workers, and even their entry level helpers are more skilled than McDonalds, so you're looking at a LOT of money going into wages. Then the lead contractor gets his cut, even though he doesn't personally do a damned thing on the work, but they often make 20k or more per house to be the lead contractor.

285k for a 3 bedroom 2 bath house in rural Louisiana, and the largest "room" in the house is the Garage.

By the time you figure homeowner's insurance and flood insurance plus the mortgage, he's going to be spending 3k or 4k per month for the rest of his life to pay for the house.

[lightbulb27]

Easily if you are my age and had a property to sell and can pay cash.

If you have family that will help, it's easier...

If you are young, without much support... it is hard. But it was hard when I was young. Starting out is hard. It was easy maybe in the 1950's.

Stuff is stupid expensive.

But the real problem for most grads is stupidity. They go into debt and spend money on coffee's every day. Bruh... I never had a drop nor paid a dime for that and all the other crap they think they have to buy.

And then they have their food delivered to their door. Bruh... doh... wake up and smell the coffee... and save your declining cash!

[Marshast]

It’s hard for some and it’s not hard for some. It all depends on one’s position. Based on this market, it’s hard to imagine that there will be a better time to buy a house, and we’re all hoping for a crash. Personally, I am not sure if this is a good time, at all, but sometimes there might be some jewels in the haystack.

[ShellyB]

Prices are one thing interest rates are another, nobody wants to sell their house because they will have to buy another one with a new mortgage and probably higher interest rate, so it is just a weird time to buy right now other than new construction.. We think about this a lot bc we are looking and waiting.

[Just_Ken]

Considering with a mortgage it takes 30 years to buy a house.

The big thing is getting the deposit for the mortgage together.

What I would say that when you rent a house off a landlord like me you are paying the mortgage on my house or houses depending on whether I own the property outright. So you are just as well having a mortgage rather than renting if you can and after a few years your mortgage may actually be cheaper than renting with the major thing being its your home and no landlord can evict or sell the house from under you, as well as you leave an assest for your children.

[LiamS95]

I would think it depends on our location. There are small towns in rural US where it's still very affordable to buy a house with a nice sized property. I imagine it's difficult to afford to buy a home in NYC specially Manhattan or in NJ which a lot of the larger places are bedroom communities for NYC executives. LA would be another place difficult to afford a nice home in a good area. I don't know much about the US real estate market overall but I do know what I've looked at and studied somewhat. I live in Toronto an the average selling price in the desirable, good neighborhoods of Toronto, average detached home prices range from $1.7M to over $4.5M depending on the location, lot size, and proximity to the downtown core.

[KostasKouvalis]

I think it's harder to sell, then buy. On my street we got 2 new neighbors within just a few months. While my mom's friends, their house was worth like a million dollars. They ended up selling it for $500,000. So they lost hella money on it, while the person who bought it got a bargain. It's only difficult to buy if you don't have money, but if you have money, you can buy a house for a bargain

[OneViewpoint]

Price of what the house or the money for a mortgage?

Where in the US?

What sort of home, single family, multifamily, townhouse, condo?

[AviatorTom]

It depends where you are and how ell you are doing economically. People are still buying houses, though in some areas, the average house price is much higher than the market can tolerate.

[Tamera952]

Worse time to be a buyer. You can thank Pres. PEDO-Piggy and his demented chaos and inflation. Housing bubble needs a correction badly.

[exitseven]

it is difficult but not as bad as they say it is. Houses re more expensive but salaries are a lot higher than they were 30 years ago. The problem is that nobody builds smaller houses anymore.

[darkcloud1945]

Only millionaires can afford housing thank you AMERICA LAST DEMOCRATIC COMMUNIST PARTY OF AMERICA. If you live in a sanctuary city or state, you get it free. Everybody else that has income will be harder to find than hens teeth.

[Massageman]

It's going to be hard as long as people consider $10 lattes each morning a necessity.

[blackeagle007]

I seen small ranch houses for 500k. It’s insane

[NoDecision]

Actually, it is a buyer's market right now.

[BadApple69]

If you can afford one you can buy one. Not hard.

[usernameobvious]

Probably impossible

Unless a dump or rural

[_Jenny_]

Too expensive

[FrodoSkywalker007]

It'd been difficult for a while

[jahaims]

That depends on how much money you have.

[ThisSiteSux]

It's only hard if you are stupid.

[strateguy632]

now is easier

[Badtobad]

Very hard