By What Age Should Someone Own/Have Bought a House?

[melita916]

I bet that it is a cozy happy home with you, hubby and baby. I believe that you have a wedding anniversary approaching too on April 22. Yours is a classic CC love story for sure.

The Lord is good! Coming up 6 years married, and our little girl is 4 months old today! ❤️

 

[Lanolin]

Can I add...even though have contributed much to discussion already...
To remind ourselves that in the Bible, even though its OT is NOT to covet someone elses house. Or your neighbours.

Yet...people do it all the time. They already live somewhere, yet they want ANOTHER house. Why do you even need two or more houses? But thats the way ppl make money.

Also, baby boomers are the most selfish generation...Im sorry, the amount of babyboomers selling up and moving to tiny box apartments then going on overseas trips and not leaving their children and grandchildren anything or any land or a home is crazy. They then sell it to developers who are the highest bidders who knock a livable house down and build cheap and tiny apartments for profit.

That is really selling out.. and selling yourself short. Then you are back to square one. Also who wants the hassle of being a landlord. Nobody so they farm that out to a property manager

 

[Lanolin]

If you want to reside somewhere you like and live and DIE there, own a house, but ultimately all the land you will ever own is the land you are buried in. In the Bible thats the only land that was bought or sold for a burial plot, Everything else was given or inherited.

 

[MsMediator]

Can I add...even though have contributed much to discussion already...
To remind ourselves that in the Bible, even though its OT is NOT to covet someone elses house. Or your neighbours.

Yet...people do it all the time. They already live somewhere, yet they want ANOTHER house. Why do you even need two or more houses? But thats the way ppl make money.

Also, baby boomers are the most selfish generation...Im sorry, the amount of babyboomers selling up and moving to tiny box apartments then going on overseas trips and not leaving their children and grandchildren anything or any land or a home is crazy. They then sell it to developers who are the highest bidders who knock a livable house down and build cheap and tiny apartments for profit.

That is really selling out.. and selling yourself short. Then you are back to square one. Also who wants the hassle of being a landlord. Nobody so they farm that out to a property manager

It's up to parents what they want to do for their retirement. This may be a difference in culture. It is nice if parents leave an inheritance but not at the expense of their own goals/happiness in their senior years (they have been saving up for retirement after all). If they want to move away from their kids their choice, just don't expect their kids to move or visit at every call. A senior couple doesnt need a large house, they can downsize. They should leave an inheritance though if there is a legitimate need.

 

[tourist]

The Lord is good! Coming up 6 years married, and our little girl is 4 months old today! ❤️

My Honey and I are in our 9th year of marriage, which is yet another CC love story. The Lord is indeed good. We still have that artistic calligraphy you created for us. It is next to our bible. The Lord is indeed good! I am sure that your little baby is keeping you busy though. Children grow up fast for sure and are a blessing from God.

 

[tourist]

A senior couple doesn't need a large house, they can downsize.

That's what we did. Got a beautiful home with greatly reduce payment and monthly expense. Lot less maintenance and upkeep. We sold our townhome in Florida when the prices were high. The area we are living in had much lower house prices than Florida. We sold high and bought low. Lower crime rate, relatively safe area and virtually no traffic congestion. Got a low mortgage rate too along with a hefty down payment. It's been a good move so far.

 

[Lanolin]

It's up to parents what they want to do for their retirement. This may be a difference in culture. It is nice if parents leave an inheritance but not at the expense of their own goals/happiness in their senior years (they have been saving up for retirement after all). If they want to move away from their kids their choice, just don't expect their kids to move or visit at every call. A senior couple doesnt need a large house, they can downsize. They should leave an inheritance though if there is a legitimate need.

Not really.
It is up to God to leave His children an inheritance. He will never cuts them off if He is truly their Father.

Human parents on the other hand, willingly abandon and disown their own children in some cultures which I find wrong. Do not bother having children if that is the case. Not everyone saves up for their retirement, that is not actually your goal in life. . Children and grandchildren ARE your inheritance if you have them. or adopt them.

Childrens children are the glory of their fathers not peoples retirement.

Grandparents (elders) need to look after their children and teach them, but in some cultures they just expect the government to do it all.

 

[Lanolin]

Whether you're a first-time buyer or a seasoned homeowner, buying a new home is exciting. You must contact a home insurance binder and take an insurance. You can decide what features you want and don't want in your future home by visiting open houses or homes for sale with a real estate agent. Finding your ideal new home and beginning the purchasing process can be exciting but sometimes stressful. The excitement of purchasing a home might be diminished by concerns about price negotiations, home inspections, and financing requirements.

Its a real drag buying a house if you CANT afford it lol
And most first time buyers people cannot afford it...thats why people take out 30 year mortgages....No first timer can afford to pay for a house outright. If they do find a house within price range it will be a dump that needs fixing up which can cost as much as a new house.

The only people that can afford it are foreigners who have sold up everything and moved to a different country with cash and a good exchange rate!

 

[Lanolin]

That's what we did. Got a beautiful home with greatly reduce payment and monthly expense. Lot less maintenance and upkeep. We sold our townhome in Florida when the prices were high. The area we are living in had much lower house prices than Florida. We sold high and bought low. Lower crime rate, relatively safe area and virtually no traffic congestion. Got a low mortgage rate too along with a hefty down payment. It's been a good move so far.

Because your children left or you kicked them out?

I often wonder which one parents do, a lot of parents do treat their children so badly that they leave home and never return.

Children either get taught to contribute to their home and then their parents sell it from under them or taught to be selfish and buy their own home, which then parents have to realise will be far away from them so they can never visit.

God doesnt operate that way, He gifts his children His house, and we all live with Him all the time. Jesus says in my Fathers house are many mansions, so I expect it will be a HUGE place. The door (Jesus) is always open. I dont think He ever downsizes, leaves or abandons His heavenly home . In contrast, God just keeps accomodating everyone.

 

[MsMediator]

Not really.
It is up to God to leave His children an inheritance. He will never cuts them off if He is truly their Father.

Human parents on the other hand, willingly abandon and disown their own children in some cultures which I find wrong. Do not bother having children if that is the case. Not everyone saves up for their retirement, that is not actually your goal in life. . Children and grandchildren ARE your inheritance if you have them. or adopt them.

Childrens children are the glory of their fathers not peoples retirement.

Grandparents (elders) need to look after their children and teach them, but in some cultures they just expect the government to do it all.

You are talking about different types of inheritance, one being inheritance of the Kingdom and the other being legacy/descendants. I was talking about monetary inheritance that one may leave when they pass way.

Saving for retirement should definitely be a goal! I guess in NZ the government provides everything so no one needs to save?

Last thing you want is forcing someone who doesnt want kids or involvement with kids is to have them look after kids. Also not all people are fit to raise kids even grandparents.

 

[tourist]

Because your children left or you kicked them out?

I often wonder which one parents do, a lot of parents do treat their children so badly that they leave home and never return.

Children either get taught to contribute to their home and then their parents sell it from under them or taught to be selfish and buy their own home, which then parents have to realise will be far away from them so they can never visit.

God doesnt operate that way, He gifts his children His house, and we all live with Him all the time. Jesus says in my Fathers house are many mansions, so I expect it will be a HUGE place. The door (Jesus) is always open. I dont think He ever downsizes, leaves or abandons His heavenly home . In contrast, God just keeps accomodating everyone.

Both of our daughters are grown adults in their 40's and are on their own.

 

[JohnDB]

I'm hearing that TN is in big trouble with their real estate market.
P/E ratio is at .65.

That's a ratio of price of housing vx average income.
Basically what this means is that nobody can afford to live there with current home prices.

Meaning a contraction in prices is about to happen. People are going to be upside down with mortgages vx current market value.

 

[Lanolin]

You are talking about different types of inheritance, one being inheritance of the Kingdom and the other being legacy/descendants. I was talking about monetary inheritance that one may leave when they pass way.

Saving for retirement should definitely be a goal! I guess in NZ the government provides everything so no one needs to save?

Last thing you want is forcing someone who doesnt want kids or involvement with kids is to have them look after kids. Also not all people are fit to raise kids even grandparents.

we have kiwisaver

You can opt out if you dont want it though.

In NZ we look after each other as its a small population on islands, no bigger country is gonna do it for us.

 

[Lanolin]

Both of our daughters are grown adults in their 40's and are on their own.

why are they on their own? They dont like living with you? Do they visit much? Do they have their own houses or renting.

 

[Lanolin]

People choose to have kids but they are responsibile for looking after them, even so, they cannot seem do it ALL the time if they are working as well. However there is such a thing as collective responsibility for caring for each other, or civic duty I guess the US doesnt really have that. Seems to be every man (or woman) for herself.

 

[Lanolin]

In nZ we hadd have state housing or a welfare state after the second world war where people got their own homes, if they had served and survived in the war, because there were literally none. The govt built a whole lot.

 

[Lanolin]

Unfortunately the welfare state in nz did leave many dependent on the govt to look after them, but thats because the economy was so poor and not many workers. We just didnt have the resources and a lot of materials would have had to be imported...but shipping and freight costs if you send it half way around the world.

So many of our houses are built of cheap softwood plantation timber that has to be chemically treated...but its still leaky. About half of our older houses are built from kauri forest timber till half the forests were cleared but that meant the kiwi population no longer had homes thanks to all the trees being cut down. Oh and erosion from the trees no longer holding the soil together.

Not sure why the homes couldnt be built from clay and brick to be solid we have so much of it and it would last much longer.

 

[MsMediator]

we have kiwisaver

You can opt out if you dont want it though.

In NZ we look after each other as its a small population on islands, no bigger country is gonna do it for us.

We have Social Security...you can only live on it ( reasonably comfortably on a budget) if you get the higher payout (which is calculated based on income and number of years works, though it is a progressive system meaning the lower earners get more than they "should" and the higher earners get less) and if you are rent/mortgage free. However, Social Security is running out of money.

 

[arthurfleminger]

Rent has soared as high as house prices. I moved to Colorado in 1982, made $10 an hour and $15 for each overtime hour. It was good money in those days. With overtime I was making $30,000 a year. I got a nice/furnished two bedroom apartment for $300 a month, $3,600 a year.

My annual rent came out to be 12% of my annual salary. Today, the same apartment rents for $2,000 a month or $24,000 a year. In order for that to be 12% of my annual salary, I'd have to be making $200,000 per year. Think about that!!!!!!!!!!

That just shows how rents have soared and why renters can't afford to buy houses.

PS Personally, I have no solution to this problem nor do I know what has caused this problem. I have family members, with both spouses working and no kids, and they can't afford to save anything at all.

US households are now 'rent-burdened' for the first time ever, blowing 30% of their income on rent

Many Americans will be familiar with the 30% rule, which dictates that housing costs should never eat up more than 30% of your household income. But as it turns out, that old rule of thumb has become untenable for apartment dwellers these days.

In Massachusetts, Florida and New York, Americans spend 32.9%, 32.6% and 31.2% of their income respectively on rent. Assuming you make $71,456 (the mean American income as of 2022).

US households are now 'rent-burdened' for the first time ever, blowing 30% of their income on rent — these 3 states are the most squeezed. (Plus tips on how to handle the distress.) (msn.com)

 

[tourist]

why are they on their own? They dont like living with you? Do they visit much? Do they have their own houses or renting.

My daughter has her own house with her 5 kids, a husband, and various pets. My wife's daughter stays with us off and on, and also with a friend in another town. No, my wife's daughter does not like living with us on a full-time basis.