The median!!!!!!!!!...................how is anyone affording this crap now.

It's become beyond ridiculous. In my 'hood, the same house you could/ve bought 5 years ago for $180K is now $315K. I feel sorry for the people who HAVE to purchase a home right now.

Its still dirt cheap compared to the civilized world overseas

Crazy. When we built our house 14 years ago anything above $337,500 was a jumbo mortgage with a different interest rate.

They cant, they rent

Rentals at an all time high....in a good economy....thats whats very scary

I find it hard to believe that the median cost of a house is that high. Where did you get this information?

And with 2-3 brand new $80k vehicles in the driveway...

Civilized?

Californians selling their tiny houses for several mils can easily afford those

they're the ones driving prices up.... often paying $25k -$50K over asking price for the right location

That's ok with me , when I am ready to sell they can have it

The housing market is slowing down I read yesterday

A realtor friend told me the same thing recently too

Read something similarly outlandish about the average home price in SA a month or so ago.

I thinik it is a few things. A combo of what cabosandinh said about the Californians as I have seen some outlandishly crazy and very poor purchases made in the san Antonio area with cali money. Second is relatively low interests rates, third I think people are ok to have a mortgage for the rest of their life, and fourth it seems like more and more these days people are not buying based on what they need, they are buying based on what they can afford with x monthly payment. Purchase price doesn't matter, its what the payment is, much the same with cars these days and 7 and longer year loans.

I paid $90,000 for my house and lot 43 years ago. I couldn't afford to buy it now.

Median home price in San Antonio is 175k. Texas is 199k, the U.S. is 226k.

https://www.zerohedge.com/news/2019-05-23/new-home-sales-collapse-april-median-prices-soar



and Fox business this morning



AND the average selling price last month was 393k.

Some truth in there. I've got a buddy that went to prequal and was told he was good to like 750. He laughed and said that's how they get folks. Especially saying that in front of their wife... He is looking in Rockwall county and just re married so he's in a 5 bedroom from the get go. He's pretty much accepted he ain't touching a house big enough for the mixed family for under 4. Outlandish I think he's already sweating.

Banks okay you for four times your annual salary, and some people think that's what they can afford.....

Yep. Not in Rockwall.............a complete remodel is gonna get you for at least 375 in Rockwall and that's not on the heath side/south side of I-30. And that's just a 3 bedroom. He should have stayed single

We have been keeping our eye out for about a year now in Johnson Co.
1-2 acre lots with a 4bed 2 bath 2k sf are going for 300+.
3-4 years ago they were 180-205k. It’s crazy how inflated the market is.

Some truth here. It is kind of like car dealerships. People buy what they can afford a monthly payment on. And.....believe it or not, you can get a 100% mortgage on a home. There are programs out there.

For some of you younger ones, in the Carter years I bought my first house at I think $23,000. It was what I could afford. I think the interest rates were around 12%, give or take. If that had been at today's interest rates I would have been in a home three times that.

Wife and I bought our house in ‘91. It was a foreclosure, and interest rate was 12%.

Fresh out of college with 80k in student debt and new truck note they approved my wife and I for a scary amount for our first house. I told the guy right there I wouldn't spend 1/2 that and be comfortable.

On the radio a few weeks ago they said the average home price for the last 6 weeks or months was something just short of 300k for sa I think.

I am glad we had an extremely conservative lender when we built our house. That was in 2013 when things weren't quite as crazy as they are now though.

I am so thankful mine is paid off and I plan to not have another one....I’m done moving...

I couldn't stay put in a house . I get the itch too fast

That's the rub.....at a high interest rate, homes were valued less and the payment was the same....only thing was you were paying the bank and not building equity. Now interest has dropped greatly & home values have shot up, but payment is still about the same.


Home prices vary greatly by region but the local markets in SA and Austin have grown tremendously in the past few years. When I bought my first house in 2014 they told me I was underbuying. Still thought the $196k I was spending was a lot. I put about $4k into the house and sold it 18 months later for $230k....no one thought I would get that. sold it after being on the market 3 days. 4 of my neighbors sold right after that. I probably could get $260k for that house now, which is a pretty good amount of appreciation in that timeframe.


SA is very strong in the market, I could see the avg. house in SA being close to $300k right now. but most of those are newer and higher end homes....lower end homes start selling it will drop the avg. price down.

Home prices in Areas like Boerne and La Vernia are crazy....take a look at those markets. Houses being built as fast as they can close on the lots.


Its not all California money either. That big boom happened in 2005-2007. My wife is a Residential Real Estate Agent and she deals very little with people from California. People always ask me why ranch prices are so high and they always say "oh all that California money is coming over here", then I have to tell them its not California money. I think I maybe have sold 1 or 2 places to people from California in my career and they weren't big places.