Are manners becoming extinct?

[Robbie Cottam]

the house we sold in '06 did'nt recover to that sales price until mid 2021

that's a phenominal rate. when we bought our first home (also no help with a down payment) we were paying 11%

So if I’m understanding your statement correctly you are saying,

Houses didn’t regain their 2006 value, until in some cases 2021….

Seems like the houses were cheap….

And 2.5 percent interest rate that were available up until about the same time where much lower than they have been before and since….


If I understand correctly, thanks you

 

[Disneylover99]

Interest rates are nation wide.

And I live in a fairly high cost of living area

I’m talking housing prices. Not interest rates.
Low interest rates don’t help you if you can’t afford the down payment.

 

[Moliphino]

And wealth building. It's been very difficult for Millennials to build wealth (generally needed to compete in the housing market). Being repeatedly interrupted in doing so impacts things (from 9/11, to the Recession to the pandemic). I know you and I are close in age and we have shared experiences living through some of these struggles. We know how the job market was when we graduated college (and it was not about what degree you had).

I do know some of people around my age who own homes but they generally have dual high incomes some with lower overall incomes own homes in generally unsafe areas. Most however do live in homes but are renting those homes. Some live in apartments or similar type housing.

Yeah, I graduated into the recession '09 with an engineering degree and it took years to get a job in my field. A bunch of regular companies didn't bother showing up to the career fair my senior year and I had friends who were hired in the fall only for all new hires to be canceled in the spring before graduation.

 

[Babs Johnson]

What do you mean Millennials can't afford houses....
they live in the house their parents paid for.....

Two of my cousins, Boomers, sisters, both live in townhouses paid for by their parents.

They’re about ages 67 and 70 now, and were never able to launch. Neither ever had any type of job for very long. One was even “fired” from a volunteer position.

One was married three times, the other twice, each marriage short lived. They both made plenty of other poor decisions. I suppose their parents enabled them their entire lives.

 

[CdnCarrie]

This post is ironic in a thread about manners being extinct.

What age are those millennials? "Millennial" covers people born between 1981-1996 which is a pretty broad range with different experiences.

Those of us on the older end of that range had an opportunity to take advantage of the 2008 housing crisis and buy houses relatively cheap. We also had years of low interest rates that allowed us to get mortgages with lower monthly payments. The younger millennials graduated college 5 years ago though and are probably just now getting to a stage where they can think about buying a house.

25-30.
There wasn’t a housing crisis in Canada in 2008 thankfully.

 

[Robbie Cottam]

What, then, would you consider the cut-off point for mortgage interest rates at which buying a house is a good idea? Rates were upwards of 20% in the 80s, and plenty of homes were still being sold then.

Just because something is happening doesn’t make it a good idea…

When house interest rate approach or exceed credit card rates ….. you are deeply into the dumb idea category

The average home price in the US is $500,000
Current interest rates are 8 percent with 20 percent down ….

The interest payment alone on that house is almost 2700 dollars a month

That seems pretty dumb to me…

to answer your question, any thing over 5 percent is pretty silly

 

[gmi3804]

Just because something is happening doesn’t make it a good idea…

When house interest rate approach or exceed credit card rates ….. you are deeply into the dumb idea category

The average home price in the US is $500,000
Current interest rates are 8 percent with 20 percent down ….

The interest payment alone on that house is almost 2700 dollars a month

That seems pretty dumb to me…

to answer your question, any thing over 5 percent is pretty silly

Credit card interest and mortgage interest are two different animals. Credit cards don't allow mortgage interest or property tax deductions, or to build equity with their payments. If you're an investor, they don't allow depreciation write-offs. Anyone who's ever paid more than a 5% interest rate was silly? If you say so.

 

[Robbie Cottam]

Credit card interest and mortgage interest are two different animals. Credit cards don't allow mortgage interest or property tax deductions, or to build equity with their payments. If you're an investor, they don't allow depreciation write-offs. Anyone who's ever paid more than a 5% interest rate was silly? If you say so.

If your complaining housing is to expensive, then yes.

Unless, you think the average home owner can afford to pay over twenty thousand dollars in interest every year, hoping they will get it back in their tax refund

 

[john7994]

Credit card interest and mortgage interest are two different animals. Credit cards don't allow mortgage interest or property tax deductions, or to build equity with their payments. If you're an investor, they don't allow depreciation write-offs. Anyone who's ever paid more than a 5% interest rate was silly? If you say so.

I am double silly - I paid 10% interest on my first townhome because that was the best interest rate back then … I guess I should have waited another 10-15 years to buy and rented until money magically became free …

 

[gmi3804]

If your complaining housing is to expensive, then yes.

Unless, you think the average home owner can afford to pay over twenty thousand dollars in interest every year, hoping they will get it back in their tax refund

Who's complaining? A write-off doesn't translate to a "refund."

Are you claiming that anyone who owns a home is an "above average" earner? Would you rather spend $20,000 on rent you will never get back, or $20,000 a year on a mortgage note that will net you tax write-offs and equity-building? This is Mortgage 101 info here, and certainly amounts change with different purchase prices, down payments, and interest rates. But to make a blanket statement that paying any rate over 5% is obtuse.

I am double silly - I paid 10% interest on my first townhome because that was the best interest rate back then … I guess I should have waited another 10-15 years to buy and rented until money magically became free …

...and lost 10-15 years of rent payments to a landlord who gets why owning income property is a net gain proposition, right?

 

[The Mayor]

My children are ages 41 and 39. What generation do they fall under? Both went to college, had student loans, got jobs, paid them off, got married, bought a house and had children. Now we did help them out minimally when they bought their houses(buying appliances, washer/dryer). But in MA there is a program through Mass Housing where they took a two day seminar on mortgages and purchasing a home. Through that program they were able to only have to put down a 3% down payment, as long as they qualified, instead of the normal 20%. Granted their mortgage payments were higher initially but both have rewritten and have a 2.6% interest rate which helped them tremendously. Do other states offer programs like this?

We live 20 miles north of Boston and home prices here are still sky high, getting multiple offers, even with the higher interest rate. A very small house on our street, 920 sq/ft, recently had 22 offers on it all well over the $400K asking price. It’s way to small for a family!! Nor sure who purchased it but we’re guessing a flipper.

So with house prices and interest rates so high I can understand why it would be so difficult for a younger couple couples to purchase a home.. Regardless of what choices they’ve made.

Wow my post and this thread have really gone off topic and down the rabbit hole!!

 

[dez1978]

My children are ages 41 and 39. What generation do they fall under? Both went to college, had student loans, got jobs, paid them off, got married, bought a house and had children. Now we did help them out minimally when they bought their houses(buying appliances, washer/dryer). But in MA there is a program through Mass Housing where they took a two day seminar on mortgages and purchasing a home. Through that program they were able to only have to put down a 3% down payment, as long as they qualified, instead of the normal 20%. Granted their mortgage payments were higher initially but both have rewritten and have a 2.6% interest rate which helped them tremendously. Do other states offer programs like this?

We live 20 miles north of Boston and home prices here are still sky high, getting multiple offers, even with the higher interest rate. A very small house on our street, 920 sq/ft, recently had 22 offers on it all well over the $400K asking price. It’s way to small for a family!! Nor sure who purchased it but we’re guessing a flipper.

So with house prices and interest rates so high I can understand why it would be so difficult for a younger couple couples to purchase a home.. Regardless of what choices they’ve made.

xennials lol

 

[Cannot_Wait_4Disney]

I'm confused. Are manners becoming extinct because of housing prices or interest rates?

 

[EllieJedi]

My children are ages 41 and 39. What generation do they fall under? Both went to college, had student loans, got jobs, paid them off, got married, bought a house and had children. Now we did help them out minimally when they bought their houses(buying appliances, washer/dryer). But in MA there is a program through Mass Housing where they took a two day seminar on mortgages and purchasing a home. Through that program they were able to only have to put down a 3% down payment, as long as they qualified, instead of the normal 20%. Granted their mortgage payments were higher initially but both have rewritten and have a 2.6% interest rate which helped them tremendously. Do other states offer programs like this?

We live 20 miles north of Boston and home prices here are still sky high, getting multiple offers, even with the higher interest rate. A very small house on our street, 920 sq/ft, recently had 22 offers on it all well over the $400K asking price. It’s way to small for a family!! Nor sure who purchased it but we’re guessing a flipper.

So with house prices and interest rates so high I can understand why it would be so difficult for a younger couple couples to purchase a home.. Regardless of what choices they’ve made.

Wow my post and this thread have really gone off topic and down the rabbit hole!!

We have had similar first time homebuyer programs here in MN since at least the late 90s. My ex and I did take the course, although we ended up getting a conventional mortgage as we had saved up enough for a bigger down payment. I do think it would be more difficult to save for a down payment today than 10, 15 or 20 years ago.

As for the original question, I find that most people I encounter are still generally polite. There is of course the occasional exception. I appreciate if someone holds the door for me, and I will definitely say thank you. I will also hold the door for others, men and women. People sometimes give me a funny look as I walk with forearm crutches, but if I have already opened the door, I can hold the door open the same as anyone. I think a lot of manners is simply treating others with respect and kindness.

 

[leahgoogle]

It's a little disappointing to see so many women that have a negative reaction to a simple gesture as holding open a door. I'd hate to think how you'd react to a man opening the car door for you.

My daughter's date for homecoming opened the car door for her and it was so nice. We taught our son to do the same. Nothing wrong with that!

 

[DCLMP]

I'm confused. Are manners becoming extinct because of housing prices or interest rates?

View attachment 815612

I was wondering how a thread on manners turned into housing prices and interest rates. Housing prices, interest rates, and inflation are interesting topics, but they probably deserve their thread.

 

[mjkacmom]

Maybe in your area, but certainly not everywhere.

We bought our home just in time in 1997 for $170,000, it’s now assessed at $550,000. I’m surprised that 3 of my daughter’s friends have managed to buy homes in town (squeaked in a few years ago with lower interest).

 

[Cannot_Wait_4Disney]

I was wondering how a thread on manners turned into housing prices and interest rates. Housing prices, interest rates, and inflation are interesting topics, but they probably deserve their thread.

CW4D presents EZ answers to EZ questions.

How?
Welcome to the Dis.

 

[gmi3804]

We bought our home just in time in 1997 for $170,000, it’s now assessed at $550,000. I’m surprised that 3 of my daughter’s friends have managed to buy homes in town (squeaked in a few years ago with lower interest).

Assessed value is not market value. It's merely a number that shows relation to other properties. No one knows what their house is "worth" until it's sold.

 

[Mackenzie Click-Mickelson]

Assessed value is not market value. It's merely a number that shows relation to other properties. No one knows what their house is "worth" until it's sold.

That's true, the market at any given point can direct the sales price. But I will say in my state it's required by law that every January 1st your home is valued at "fair market value" for your property tax. Under normal conditions this typically means the the pricing is fairly close. During the pandemic it's been off due to a too tight of a housing market creating bidding wars but generally it's not too too off.