this post was submitted on 06 Jun 2026
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A house down the road. Sure it's nice but it has absolutely no yard and you can't have a pet or anything that makes noise or the neighbors will quickly complain.

So just almost 8000 a month! I used to pay $5000 a year in taxes in 2005, so it's like paying property taxes every month! Yey! So affordable!

Seriously, I don't know what sort of fool would be convinced to move into any of these hundreds of houses that are basically 1.5million dollars. They would need to tare them down and built into mini hotels. Problem is that there are literally no local tourists attractions. It would have to be a college dorm house or multi-family slumlord special.

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[–] EndlessNightmare@reddthat.com 28 points 3 days ago (1 children)

That housing is more than my total expenses for everything.

[–] spicytuna62@lemmy.world 16 points 3 days ago (1 children)

It's more than my wife and I earn in a month combined, and where we're from, we're not poor.

[–] altphoto@lemmy.today 7 points 3 days ago

I paid $5,000.00 for my current car. It's like buying a used car every month.

[–] Tja@programming.dev 16 points 3 days ago (2 children)

Well, at 6.88% interest rate, you are paying about 1k for the house and over 5k to the bank for the privilege. At least for the first 10 years. That's a crazy rate for a mortgage.

[–] clif@lemmy.world 9 points 3 days ago (3 children)

I'm old but it entertains me to see people saying 7% is outrageous when I remember the rates in the early 1980s.

Don't get me wrong, it's crazy, it's just less than half of what rates were there for awhile. One of those "back in my day we walked to school in the snow, uphill both ways" type things.

Blew my fucking mind when we got a 4% back around 2010 (year guesstimate, too lazy to look it up)

[–] Trev625@sopuli.xyz 19 points 3 days ago

Yeah but in the early 1980s, high interest rates were manageable because the median home price ($70,000) was only about two to three times the median household income ($22,000). Today the median home price is past $400,000 while median incomes are around $80,000, about five to seven times annual income. The high interest rate was painful, but it applied to a much smaller loan balance.

[–] OldChicoAle@lemmy.world 17 points 3 days ago

It's a house in the 80s, Michael, how much could it cost, $10?

[–] Tja@programming.dev 2 points 3 days ago

Yeah, but nowadays 7% it's more like overdraft interest, or at least car loan. At least in Germany mortgages are well below 4% (were below 1% in the late 2010s).

[–] altphoto@lemmy.today 3 points 3 days ago

Yup. I wonder wonder wonder how it's going to go down. It was 1.3million when it first was put on the market a couple of weeks ago. They're down to just over a million.

[–] gigastasio@sh.itjust.works 14 points 3 days ago

As someone who will never own real estate of any kind, I’d just like to say, 🤷🏻.

[–] Rod_Orm@piefed.world 6 points 3 days ago (1 children)

If you click that "reset" it will be $0 you need to pay

[–] altphoto@lemmy.today 1 points 3 days ago

Ah yeah! That's the little trick they don't want you to know!

[–] Proprietary_Blend@lemmy.world 8 points 3 days ago (1 children)

Where shit?

Also how many square cheeseburgers?

[–] altphoto@lemmy.today 6 points 3 days ago

This house comes with a local McDonalds that will have almost unlimited cheese burgers! The Burger Price is not included but it certainly adds to the value.