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Youre older than I am, but when I was a kid spending $100k for a car was for doctors and lawyers.

Now a lot of 3 row family SUVs are in that range.

I cant even imagine what things will look like for my kids when they hit their 30's.
Our first house was $132,000. I can’t spend on a car what I spent on a house! That’s insanity.
 
Our first house was $132,000. I can’t spend on a car what I spent on a house! That’s insanity.
My parents paid less than that for our first house in Corpus Christi on a 1 acre lot in 1995. The Oso Bay was right across the street and we were half an hour from Padre Island Beach or downtown Corpus in either direction.

My wife and I were shopping for our first house with 3 kids and a baby on the way during COVID since rent increased 20%-50% in our area overnight.

We were pre-approved for $380k but chose a 1,400sq-ft 1969 pier and beam that was completely remodeled. All new plumbing, flooring, electrical, granite countertops, drywall, etc. I didnt want to be house poor.

We paid $214k for our house, It was the cheapest and most structurally sound home we could find and time was running out.

It took over a year of getting beat out on bids by $40K cash over asking before we did it. We live around an hour East of Dallas and people flocked here when remote work surged.

In 2018 our current home was appraised at $68k.

In 2024 it appraised for $273k.

Its absolutely bananas.
 
My parents paid less than that for our first house in Corpus Christi on a 1 acre lot in 1995. The Oso Bay was right across the street and we were half an hour from Padre Island Beach or downtown Corpus in either direction.

My wife and I were shopping for our first house with 3 kids and a baby on the way during COVID since rent increased 20%-50% in our area overnight.

We were pre-approved for $380k but chose a 1,400sq-ft 1969 pier and beam that was completely remodeled. All new plumbing, flooring, electrical, granite countertops, drywall, etc. I didnt want to be house poor.

We paid $214k for our house, It was the cheapest and most structurally sound home we could find and time was running out.

It took over a year of getting beat out on bids by $40K cash over asking before we did it. We live around an hour East of Dallas and people flocked here when remote work surged.

In 2018 our current home was appraised at $68k.

In 2024 it appraised for $273k.

Its absolutely bananas.
That $132,000 was in Southern California in 1991. I don’t even want to know what our first little 1050 square foot house in California is worth now. We should have kept it as a rental but who knew. 🤷‍♀️
 
  • Wow
Reactions: Chavannigans
I think this new Escalade iQ at almost 10,000 lbs might weigh more that one of those old Suburbans.
Say nothing of the starting MSRP of $127,700.
We can thank Covid for this. It’s when Car manufacturers and dealerships grew massive balls and decided to jack prices up. And then decided to use the chip shortage as a reason, which they still feel that it’s effecting them. I call BS.
 
Nice article. I know when I talk with people about my next vehicle being an EV the first thing that comes out of their mouth is "but these batteries are so expensive to replace". Even after I explain the long warranty in years & miles many are still sceptical. Some will never make the leap. Their loss!

Youre older than I am, but when I was a kid spending $100k for a car was for doctors and lawyers.

Now a lot of 3 row family SUVs are in that range.

I cant even imagine what things will look like for my kids when they hit their 30's.
There are a lot that aren’t as well and I think the “keeping up with the Joneses” gets hold of younger families. I’m struggling thinking a Scout might be $80K. I think the guilt I’d have spending over $100K would ruin the experience of owning it
 
We can thank Covid for this. It’s when Car manufacturers and dealerships grew massive balls and decided to jack prices up. And then decided to use the chip shortage as a reason, which they still feel that it’s effecting them. I call BS.
That’s a part of it but currently-steel tariffs are the new major issues. A steel beam I. A basement is 40% more right now that it was a year ago. Prices are staying high to help get through the current material and import tariff costs-unfortunately. I suspect in a year the average car price will be well over $50K as it’s hovering around $48-$50K right now
 
My parents paid less than that for our first house in Corpus Christi on a 1 acre lot in 1995. The Oso Bay was right across the street and we were half an hour from Padre Island Beach or downtown Corpus in either direction.

My wife and I were shopping for our first house with 3 kids and a baby on the way during COVID since rent increased 20%-50% in our area overnight.

We were pre-approved for $380k but chose a 1,400sq-ft 1969 pier and beam that was completely remodeled. All new plumbing, flooring, electrical, granite countertops, drywall, etc. I didnt want to be house poor.

We paid $214k for our house, It was the cheapest and most structurally sound home we could find and time was running out.

It took over a year of getting beat out on bids by $40K cash over asking before we did it. We live around an hour East of Dallas and people flocked here when remote work surged.

In 2018 our current home was appraised at $68k.

In 2024 it appraised for $273k.

Its absolutely bananas.
Housing market is a killer now. I’m regularly seeing $1 million dollar building jobs that 3 years ago might have been $700K. My house has increased roughly 65% in the past 9-1/2 years since we built. It’s crazy
 
Just got the bid of turning a front and rear covered porch on my new home to a wrap around porch. Now if fairness, the front and rear were not full porches-so the add on segments were 50-60' each. The bid was 150k - just for the covered porches. Prices are above insane.

Going to ask the builder how much to just extend the existing covered porches to the ends of the building and put in uncovered on the sides-but I bet it will still be about $100k. Part of the issue is he budgeted in stonework on the columns, and sealed the rafters. I am sure there was also plenty of paint in that estimate.
 
Just got the bid of turning a front and rear covered porch on my new home to a wrap around porch. Now if fairness, the front and rear were not full porches-so the add on segments were 50-60' each. The bid was 150k - just for the covered porches. Prices are above insane.

Going to ask the builder how much to just extend the existing covered porches to the ends of the building and put in uncovered on the sides-but I bet it will still be about $100k. Part of the issue is he budgeted in stonework on the columns, and sealed the rafters. I am sure there was also plenty of paint in that estimate.
Covered porch SF cost is approximately $140/SF shingled. Metal-add $20-$25/SF. Looking at my cost sheets right now 😀. That is central PA pricing-not sure where you are to know the variables. That’s also new construction cost-if adding to existing house it will definitely be a bit higher