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Old 01-21-2018, 02:42 PM
 
33,046 posts, read 20,726,186 times
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Quote:
Originally Posted by CGab View Post
My link was from August 2017. The point is that more Americans own than rent. If you are one that rents in this country than you are at the mercy of the person who owns the property, unless you are in one of a few states that have rent control. The only way to get around it is to buy your own property and don't rent. The U.S. offers plenty of opportunities for one to establish enough wealth to purchase their own property. I'm a prefect example. I purchased my first property at the age of 23 with absolutely no help from anyone else. How? Work hard and save!

Median home price in my area is north of $300K. Gonna take a lot of income to qualify for that.
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Old 01-21-2018, 02:58 PM
 
Location: Aurora Denveralis
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Quote:
Originally Posted by freemkt View Post
Turns out that 64% of dwellings are owner-occupied. Many houses - especially in high-COL areas - have an owner-occupant PLUS one or more individuals who rent from the owner.
Plus, of course, the original question is "how many own real estate"... and while the number of landlords and tycoons who rent their domicile but own commercial property is probably smallish, it's another angle of why simple questions and one-stat answers can be misleading.
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Old 01-21-2018, 02:59 PM
 
Location: Saint John, IN
10,638 posts, read 3,319,645 times
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Quote:
Originally Posted by freemkt View Post
Median home price in my area is north of $300K. Gonna take a lot of income to qualify for that.
It's not that high everywhere! Median home price in the US is $188k (as of 2014, I couldn't find a more updated source) however, the following link shows much lower median home values and salaries needed to qualify for several U.S. cities.



https://www.advisorperspectives.com/...7-major-cities


How much home can I afford calculator......


https://www.nerdwallet.com/mortgages...e-can-i-afford
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Old 01-21-2018, 03:02 PM
 
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Quote:
Originally Posted by GeoffD View Post
Vote for Bernie. He'll give you the 297K.

If you want to fix the income stratification problem that causes all the wealth stratification, you need to create a labor shortage for unskilled/semi-skilled labor. Those where the economic conditions in 1950 when repetitive task jobs paid middle class wages. If you deport every illegal and shut down legal immigration, cleaning the toilets will pay $20.00/hour since nobody wants to do it. The rest of us pay much more for services and the standard of living for people with 21st century job skills drops. Economic growth slows.

Or you can insist that people actually educate themselves so they have 21st century job skills. That's what Asian countries do.
Some combination of the above seems reasonable.
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Old 01-21-2018, 03:04 PM
 
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Quote:
Originally Posted by MrRational View Post
So ask yourselves... what public policies does the US have that could achieve these goals? And what public policies does the US have that actually work against them?
U.S. public policy is all about creating a large and dependent underclass.
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Old 01-21-2018, 03:04 PM
 
33,046 posts, read 20,726,186 times
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Quote:
Originally Posted by CGab View Post
It's not that high everywhere! Median home price in the US is $188k (as of 2014, I couldn't find a more updated source) however, the following link shows much lower median home values and salaries needed to qualify for several U.S. cities.



https://www.advisorperspectives.com/...7-major-cities


How much home can I afford calculator......


https://www.nerdwallet.com/mortgages...e-can-i-afford

In 2017, National Association of Realtors (NAR) claimed the current median home price is $200K and they should know.
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Old 01-21-2018, 03:15 PM
 
Location: Saint John, IN
10,638 posts, read 3,319,645 times
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Quote:
Originally Posted by freemkt View Post
In 2017, National Association of Realtors (NAR) claimed the current median home price is $200K and they should know.
Thanks for the info, I did state I couldn't find an updated figure! The other link I provided showed recent (from 2017) median home values for popular U.S. cities and what salary it would take to qualify for a home there.
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Old 01-21-2018, 03:19 PM
 
Location: Aurora Denveralis
3,032 posts, read 1,028,996 times
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Quote:
Originally Posted by mysticaltyger View Post
U.S. public policy is all about creating a large and dependent underclass.
I think that's too cynical, politically. It's more correct to say that the US economy (and national budget, as a result) is dependent on a socioeconomic structure that keeps a large portion of the population in economic servitude. The US merely promotes the environment in which the corporate world churns out its wealth.

But of course, they all do so on their own, without no help from nobody and thus owing nothing but those pernicious taxes they can't completely dodge, no matter how many legislators they own.
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Old 01-21-2018, 03:41 PM
 
Location: Washington State
15,367 posts, read 8,036,047 times
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Quote:
Originally Posted by CGab View Post
It's not that high everywhere! Median home price in the US is $188k (as of 2014, I couldn't find a more updated source) however, the following link shows much lower median home values and salaries needed to qualify for several U.S. cities.



https://www.advisorperspectives.com/...7-major-cities


How much home can I afford calculator......


https://www.nerdwallet.com/mortgages...e-can-i-afford
This is now $248K according to the link below:
https://ycharts.com/indicators/sales...existing_homes


Compare this to Australia with a median of $818K * .8= $654K USD
https://www.domain.com.au/product/st...ort-june-2017/
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Old 01-21-2018, 04:24 PM
 
Location: Ohio
18,019 posts, read 13,247,591 times
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Quote:
Originally Posted by freemkt View Post
Median home price in my area is north of $300K. Gonna take a lot of income to qualify for that.
Then migrate to a place where you can afford a home.

Quote:
Originally Posted by Quietude View Post
Why not? You're likely ripping it from theirs... just through a deniable chain of economic linkages instead of at sweaty gunpoint.
Prove it.

Quote:
Originally Posted by freemkt View Post
Sorry, I thought of that decades ago and quickly discovered that SEC rules preclude large pools of very-low-equity investors.
No such rules exist.

A group of poor people could easily pool their money to buy and flip properties to make money.
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