I Had An UNHINGED Rant About The Home Affordability Crisis

The real estate market is BROKEN! I'm about to unleash an unfiltered, unhinged rant about the absolute madness of the home affordability crisis. Owning a home is the collapse of the American dream, once considered a fundamental part of the American dream, has become an unattainable fantasy for most hardworking individuals and families. It's as if the housing market has morphed into a greedy monster, devouring the dreams and aspirations of hardworking people, all while laughing in our faces. Together, we can turn this unhinged rant into a rallying cry for justice, a call to action that sparks the revolution our society so desperately needs.

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Kristina Smallhorn
PO BOX 1271
Prairieville LA 70769
#homeaffordability #housingcrisis #KristinaSmallhorn

eXp Realty LLC,2900 Westfork Dr. Suite 401, Baton Rouge LA 70817
225-246-1812,Office [phone] ext# 149
Kristina Smallhorn is a licensed REALTOR® with the state of Louisiana, License number 0912122918
Disclaimer:

[jflu]

"You will own nothing. And you will be happy." Not conspiracy at all.

[Agonarch]

I think it’s disgusting that we all have worked to get the American dream just to watch it completely disappear from the vast amount of us. Renting isn’t anything anyone wants to do.

[haleymoore]

Not only can people NOT afford a house...the pay is to little to put away for an emergency, let alone retirement. There's no hope for the little guy.

[Tauf]

I keep trying to talk family members into buying property together and then helping each other build homes on it.

[GF-gckq]

We're not short on homes. Those homes are being held by investors.

[marksandoval]

When I was a kid in the 60s, I grew up in a blue collar town. Most of the the housing stock was 800-1000 square feet, 2-3 bedroom, 1 bath, no garage, homes on small, less than 5000 square feet lots. What you would call bungalows. This is what affordable housing looks like. Unfortunately, no body builds this type of housing in modern times. If you want affordable housing, get local government to require the building of these types of homes.

[dan]

I moved to an area when home prices were about 200 to 300K. They are now between 500 and 750K.
Rent has also gone up.
Inflation is only one thing. Companies like black rock coming and overbidding on homes is another. I won't live in an apartment again.
With Starlink becoming a viable option, I will be looking even more rural to get that private home.

[hestheman]

Furthermore, we have to place a strict limit on big real estate investors from buying up order to rent out.

[trish]

Glad you are seeing the big picture. I watched Blackrock begin buying up tons of apartment communities back in 2009 to current in Houston. I smelled it then but people called me paranoid. So here we are now.

[libbypieper]

Also, the apartments being built are “luxury” apartments that are not affordable. I live in Chicago and that’s all that is being built.

[legacyhuntress]

Thank you for speaking the truth. Here in rural Vermont landlords are raising rents based on market rates, Many workers are having to leave because they can’t afford rents based on the rest of the country’s rates. $1500 might not be a lot in other states but in this area that takes management pay. We have no housing stock and any time some old home comes on the market people are buying them to turn into rentals. There was an old 2 bedroom mobile trailer selling for $60, 000. It was bought by a guy who owns several businesses in the area. Next thing you know he’s renting for $1200 a month. Regular people aren’t even getting to see most of those homes before their under contract and turned into Airbnb’s or rentals. People complain no one wants to work or that the homeless bring it on themselves. Well they should have their rent go up by $555 on a fixed income and see what happens to them. You can’t afford to stay but theirs nothing close to work you can afford. You can’t afford the transportation to get back and forth from further out and there really is no public transportation. Everything’s going up and your out of options. That’s a story no one wants to talk about. Give people stable homes and there would be less problems.

[JEMyers-jtdk]

You are spot on Kristina! It's not about the interest rate. You can't afford a home if your wages are low. Who wants to be house poor!! Also, for those of us who went to college, student loans are about to restart. How can a person who wants to purchase a starter home catch a break?

[FifthKnowledge]

Yes, I feel sorry for young people still expected to work entry level jobs when there is zero chance they can buy any real assets with that.

[BatterySonic]

My wife and I were only able to afford a 45 year old double wide trailer and it still costed us 150k. It's ridiculous. Realistically, we shouod be able to buy a 2 story cookie cutter for that price.

[BradleyJ_FL]

Thank you for this, I have been beating my head against a wall with this for years! People say get a 2nd/3rd job. Some people can’t do that, I have a skilled trade and make ok money but I have a disabled wife and special needs son and we can barely afford rent in Florida! We’re the working poor that are building up in this country especially this state!

[melissas]

This is so true. And obviously the home industry is building less to keep the prices higher. In some areas they are still selling to banks and other investment groups - sometimes whole sections. So they are just unwilling to build a home that is more affordable I think. I know some will say material prices are a problem, but the truth is that these new homes are very generic and cookie-cutter. There is nothing special about them that demands these prices. Based on that alone they save costs in other ways since they can just buy materials in bulk as well as not having to pay architects or engineers. I was looking to move from a 2 story to a 1 story because of family changes, but now I feel like my money would be better spent making upgrades to my older home to make it more livable for our disabled family member.

[robertogarza]

Yup. Home and land prices shot up 3 or more times the original value in a couple or few years. There is something called class warfare. 😢

[thomasmorrison]

Homes are not going to become more affordable due to labor cost, land cost, material cost, regulation and permit costs, etc. Companies need to increase salaries or people have to work 2 or 3 jobs to afford a home. Companies now complain about unfilled jobs, but most of these jobs pay low salaries, so nobody wants them. Pay a living wage.

[randiD]

My 26 year old son is building me a modular home on 34 acres he purchased this year. HE GETS IT He doesn't believe in gold and silver as much as he does land. He beehives land is the best asset. I love my kid!

[benjaminlake]

Glad someone from gen X understands. Both my wife and I have parents that are pretty condescending towards us for not buying a home and having kids, and we're from Idaho where the market is MUCH more overvalued. We'd prefer to live in Idaho among small ranching communities, but now the median listing price for a home is $410, 000 and the median household income is only $42, 000. Our parents both say "Oh, we made due with only $25, 000 just in the early 90s, " and when I try to explain to them that their home price was less than twice their income and now home prices are roughly 10x the median household income (neglecting the realistic salary of a starting position) they simply refuse to understand. They of course all complain about how for some reason their property taxes have gone up. I agree that you had to be smart with your money back then, but now it's impossible to afford a home. AND interest rates for them were also 7% similar to present.