[simonusa3]

Originally Posted by notghinsaw

PM me contacts for a qualified contractor who is under $50/hour. I DIY whatever I can at my house because any quote comes out at least $200/hour with hours inflated. I needed my office room renovated down to the studs and quotes were $10k+ without paint. My office is like 12x10.

I’m NOT a tradesperson…but something seems off.

I had a sunroom 22 X 16 done (the whole job, sheetrock/tape/mud) it came perfect, and it was $2900. It was about 2 years ago. I know prices are up, but they can’t be up that much. I had about 28 panels actually installed I think (there was a few sheets/scraps left at the end). I think they actually delivered 31 panels.

They usually get around $70 to $100 per panel to install sheetrock (meaning everything, sheetrock, tape, mud, cut in sockets/lights). A 12 X 12 room would need 18 panels (give or take). If you took the middle ground ($80)…it’s $80 X 18 = $1440. Even if it was $1000 above what it should be...it would be around $2,440.

$10,000 for a 10 X 12 room? No way, unless I’m missing something.

[Stylo]

Originally Posted by SteveM85

No they do not. Absolutely not, not anymore. It's no longer possible. Those days are over. Those ships sailed.
Middle class cube farmers and tradesmen without parental help, degrees or no degrees, cannot buy homes in this market with these rates. The math just isn't there, it doesn't work. You still need tens of thousands for downpayments even in the C and D list towns.
If they can somehow manage to scrounge up 60-70K cash, win a lottery ticket, then fine they might make a Seymour work.

It's called an FHA loan

[Stylo]

Originally Posted by BobNJ1960

Todays Masters is the 70s Bachelors degree, and internships are required to make it, also.

Degrees in general don't seem to matter much as much in most lines of work, experience is key. If you don't get a good internship from your college that leads to something, it's just not worth it.

[BobNJ1960]

Originally Posted by Stylo

It's called an FHA loan

1 in just 7 have FHA loans, in the latest year of data I could find.

https://www.forbes.com/advisor/mortg...%20that%20year.

[Stylo]

Originally Posted by BobNJ1960

1 in just 7 have FHA loans, in the latest year of data I could find.

https://www.forbes.com/advisor/mortg...%20that%20year.

Well, it's not ideal if you can do without it

[SteveM85]

An FHA with a 6-7% rate for basic W2 income MS Excel spreadsheet pros and data refreshers or $50/hr plumbers could get dicey, even if they qualify.
It was within reach a few years ago with more inventory and historically low rates but those days are gone. The dream is over, at least for the foreseeable future. Maybe another Black Swan like Covid or 911 comes along and reverses everything, who knows, but for now, forget it, it's done guys. Gen Xers and Boomers are in charge, they're the ones running things now.

[notghinsaw]

Originally Posted by simonusa3

I’m NOT a tradesperson…but something seems off.

I had a sunroom 22 X 16 done (the whole job, sheetrock/tape/mud) it came perfect, and it was $2900. It was about 2 years ago. I know prices are up, but they can’t be up that much. I had about 28 panels actually installed I think (there was a few sheets/scraps left at the end). I think they actually delivered 31 panels.

They usually get around $70 to $100 per panel to install sheetrock (meaning everything, sheetrock, tape, mud, cut in sockets/lights). A 12 X 12 room would need 18 panels (give or take). If you took the middle ground ($80)…it’s $80 X 18 = $1440. Even if it was $1000 above what it should be...it would be around $2,440.

$10,000 for a 10 X 12 room? No way, unless I’m missing something.

The only thing you are missing is that it was 2 years ago. 2 years ago I could fly to Miami for $17 and live at south beach breakfast included for $80 per day. Mine was two layers of drywall and a window so it offsets a bit, but if my quote was $1440 I wouldn't be DIYing it. It's not a rocket science job and with proper tools it's pretty easy even alone (other than mudding perhaps).

[notghinsaw]

Originally Posted by SteveM85

An FHA with a 6-7% rate for basic W2 income MS Excel spreadsheet pros and data refreshers or $50/hr plumbers could get dicey, even if they qualify.
It was within reach a few years ago with more inventory and historically low rates but those days are gone. The dream is over, at least for the foreseeable future. Maybe another Black Swan like Covid or 911 comes along and reverses everything, who knows, but for now, forget it, it's done guys. Gen Xers and Boomers are in charge, they're the ones running things now.

What do you mean the dream is over? There is still affordable housing:https://www.redfin.com/CT/Cheshire/4.../home/53753846


Please note this home is governed by the Affordable Housing Restrictive Covenant which will expire in approximately 5 years. Buyer must be State of Connecticut median income guidelines or CHFA financing.

[BobNJ1960]

Originally Posted by Stylo

Well, it's not ideal if you can do without it

My hunch is many are simply priced out of buying this decade, whose parents 25 year ago, doing the same type work, could buy homes.

The rise in home prices past the general median wage change (long-term) benefits the long-term homeowner, but it's not a net good. It's a net neutral, as it reduces the % who can afford those homes. Our state gap in median age vs the nation has risen the last few decades, and today, we are one of the oldest age states based on median age. Pricing people out of what their parents could afford is likely one of several reasons.

[Stylo]

Originally Posted by SteveM85

An FHA with a 6-7% rate for basic W2 income MS Excel spreadsheet pros and data refreshers or $50/hr plumbers could get dicey, even if they qualify.
It was within reach a few years ago with more inventory and historically low rates but those days are gone. The dream is over, at least for the foreseeable future. Maybe another Black Swan like Covid or 911 comes along and reverses everything, who knows, but for now, forget it, it's done guys. Gen Xers and Boomers are in charge, they're the ones running things now.

Again, in the valley and cheaper towns, you can find condos in the 100’s, decent houses for high 200’s. Totally doable.