From Redfin:
The Homes Americans are Buying are Older Than Ever
The typical home bought in the U.S. hit a record age of 36 years in 2024. That’s nine years older than the median age of homes purchased in 2012, highlighting how a lack of new construction over the past 15 years has fast-tracked the aging of America’s housing stock.
This is according to a Redfin analysis of MLS data on the age of homes bought between 2012 (as far back as our records go) and 2024. The analysis refers to newer homes as being less than five years old and older homes as being more than 30 years old. Data refers to all home types (i.e. single family, condos and townhouses) combined unless otherwise specified.
The homes people are buying are getting older across all types, with condos aging the most—to a median 38 years in 2024 from 26 years in 2012.
Americans are increasingly buying older homes for two main reasons:
- Lack of new supply: There have been fewer homes built in the past two decades in comparison to earlier decades. This is particularly true on the East Coast and in the Rust Belt, where the median age of sold homes can be more than 60 years.
- Affordability: Older homes are generally cheaper than new homes, with the typical 30-plus-year-old home selling for 15% less than the median price of all homes.
Primo!
The ‘Metro Table’ in that link has a few surprises in price of older and newer houses. Bridgeport, CT is the biggest surprise. You can sort by column.
Re: “ Lack of new supply”
Yeah there are other reason’s why the old fixer upper that smells of Pall Malls and mothballs is the typical home purchase. New construction homes are too damm expensive.
Down here in Monmouth county a new detached single family home starts at $875k, and that isn’t in a desirable neighborhood. The desirable neighborhoods start at over a million for new construction.
New construction vs. older homes.
As you all now, we are actively looking in Las Vegas. There, the premium for new construction is probably somewhere from 30-60%. And the new construction is significantly crappier than the old. We just looked at the highest end Toll Brothers homes about a month ago. Besides the elevator breaking and getting stuck in it, you could see the shortcuts that were taken nearly everywhere. Even missing screws on roofing tiles, which are necessary to hold them in place. Corners out of square kind of stuff. And if that’s the case with the framing and finishing, I can only imagine the plumbing and electrical issues that will likely haunt you.
We’ve been specifically looking for homes built between 1980 and 2000. That was the first real housing boom out there, but they built homes differently back then. You will also get a home for 600K that would cost a million if it was recently built. At the end of the day, there is really little different between a home built 30 years ago and today. Plus the landscape is mature, the taxes are less and anything that did break will have been fixed.
Plus the landscape is mature
JJ would say MILF.
Watch those videos of the uber inspectors citing violation after violation on newly constructed homes makes me think it isn’t always better to buy a brand new house.
https://youtube.com/shorts/FD_0sf5cNh4?si=aF447XHz1tQJPUo7
Toll Brothers.
I thought these were nice guys. Building quality homes for people.
What do we know about them? What is their background? Did they always build crappy homes? Where did they grow up, go to school? Where did their ethics or lack thereof come from?
Where did their greed and desire for money over giving someone quality for their purchase come from?
We need the “Toyota” of construction to build homes. Someone who is interested in giving you quality for your money. Someone who you pay a fair amount and get the product you pay for, not someone who rips you off constantly.
“Fast Eddie Construction Co.: We build homes, you furnish it with love.”
Went out for margaritas, ended up wrapped like tortillas. Hehe.
Thought because they are special the PoPo would adore them
https://youtu.be/UVvM4UvoV1s?t=38
Eddie,
You would make the foundations out of Chex Mix dust. In one year the ants would eat the whole thing and it would just fall over.
VIX sub-18
BREAKING:
April’s Consumer Price Index (CPI) report showed inflation pressures eased on an annual basis in the first month that many of President Trump’s tariffs were in effect.
The latest data from the Bureau of Labor Statistics showed that consumer prices increased 2.3% over the prior year in April, a slowdown from March’s 2.4% and below economists’ forecast for 2.4%. This marked the lowest annual increase since February 2021, before a large increase in inflation sparked a Federal Reserve interest rate hiking cycle.
Anus,
Numbers were influenced heavily by drop in gas prices and demand moved forward. Give it a month or two. You will see. My recession garden is planted. 12 tomato plants, 6 cucumber plants, various peas. A yellow and green squash are going in next. All grown from seed. Total out of pocket cost. $20. I’m doing my part to reduce demand.
First inflation report since Trump’s ‘Liberation Day’ tariffs stuns Wall Street.
Awesome!
Just wait till the second or third!!
New slogan for Pegasus:
Not invited to the party in the group chat? We’ve got your ticket!!
They located Biden’s brain. Rumor is they are going to retransplant it back where it fell from.
Joe Biden, 82, undergoing ‘further evaluation’ after lump found on prostate
Ten 449
thank you very much, Ronald Reagan. Who in their right mind would want to do this shit job?
Newark airport had three air traffic controllers on duty instead of 14
On Monday evening the airport had far fewer than the 14 controllers agreed on between the union and regulators
Biden’s prostate is news these days? Yikes.
At least he has one.
Lib
Not for much longer
Meanwhile, the director of health RFK Jr., took his family swimming in closed polluted river in DC for Mother’s Day. This is MAGA.
https://www.cnn.com/2025/05/13/politics/rfk-jr-rock-creek-photos
Lib , also with wireless everything , the days of buying an older home and having to run new cable or Ethernet are over.
Avoid the mid 2000s with the Chinese sheetrock. Though with the dry conditions in Phoenix may not be an issue
Couple came through last night and said they were making an offer. Our development went up in 1981. These houses were unfazed by the Northridge Quake. They are built very well. In face we’ve experience some smaller quakes and the home just shimmies on it’s slab foundation. No creaks or cracking sounds just shimmies.
In 1981 these home were $150k….now they are $1M. A couple of my neighbors have been in their homes since the 80’s. Their taxes are minimal and they are sitting on goldmines. My guess is that they’ll hand these properties off to their kids.
Looking at real estate in NorCal is an exercise in frustration.
Lib also thanks for the continued market commentary, I’m at + 3% for the year. My target is 6% annual for to hit retirement in 10 to 12 years. had a couple of nice years so I’m ahead right now and can survive a +4% year for a few years without worrying about my target.
A market meltdown followed by 8 years of sideways trading would be bad.
Boomers hate paying taxes.
Corporates only obligation is to provide a return to shareholders.
They have no moral, legal or ethical obligations to provide a quality product. Opposite objectives
Dark Phoenix says:
May 13, 2025 at 8:56 am
Toll Brothers.
Vietnam was an agricultural nation and Boomers bombed it to build cheap factories.
Same Boomers now cry that Vietnam takes advantage of us with its cheap manufacturing
They should just call self troll brothers. If the court system is in America were worth a shit they would’ve been sued out of business a long time ago.
Yep, and they love their free universal maoist big government Marxist healthcare
Dark Phoenix says:
May 13, 2025 at 2:30 pm
Boomers hate paying taxes.
Considering what we’ve done to the Asian people they should want to hunt us down and kill everyone of us.
You should take a short step off a tall building. You’ll feel better.
watched a video on these Chinese made transportation ships. They are cranking these things out. Supposedly they can dump 100 military vehicles into Taiwan in about an hour.
Pretty amazing what you can do once you put your mind to it and you have workers that actually work
hey Lorax,
You’re late for your anal bleaching appointment. It’s OK. We’re nonjudgmental on here.
I’m not even sure what that means.
You know defeatist anti-americanism come from all side. The left and the right.
The cynicism is a weakness and shows a lack of character.
One must push hard to get the life that you need and want. Excuses are toxic. Will and energy are everything. Push Push….as Robert Plant once said.
Lorax says:
May 13, 2025 at 2:48 pm
I’m not even sure what that means.
Late. Means not on time.
Ghey means Gay
Corporates only obligation is to provide a return to shareholders.
They have no moral, legal or ethical obligations to provide a quality product. Opposite objectives.
Or they can be like DJT and provide a shit product that only returns losses to shareholders.
I have reached the promised land. Thanks Donald.
401k Rate of Return
+0.01%
Year To Date as of 05/12/25
19.26 % YTD. Some really good timing jumping in and out of cash and S&P index fund.
Thanks Stu!
YTD, my 60/40 portfolio is up around 4-5%, and I literally did absolutley nothing during all the chaos.
No market timing. No trying to predict the market. No bets on individual stocks.
No trades at all (other than my normal withdrawals for living expenses).
My international index fund (finally!) did it’s job and went up while US was going down.
So, not only did joe not recognize George Clooney, he didn’t recognize members of his own staff. Who was running the country? And why wasn’t the 25th Amendment enacted? This was a threat to democracy. What if we were attacked or had a national emergency? Why wasn’t he removed? They kept telling us he was fine despite wandering around, mumbling, shaking hands with ghosts and looking lost beyond lost. We’ve also learned that they were considering a wheel chair for joe if he won another term. There’s a laugh. He didn’t even win the first one but it worked out wonderfully. The democrats were outed and we witnessed the demise of the party.
The party of unions, hard work, the muscle of America went out with boys dressing as girls, arguing over chromosomes, eating edible crayons in safe rooms and using components of language to identify themselves. The only thing missing was a regular dose of Risperidone.
OC1,
Yes. Trump helped the world. Not us so much.
Keep in mind, my return listed there is my 401K only. My IRAs performed significantly better thanks to my timing. Some of my stocks did very well. The average investor broke even through the turmoil. Now time will tell if anything was gained by Trump’s enemy making tour. We know, he personally enriched himself and his flunkies to no end. Of course, the new Deep State is worse than the old Deep State, so no one will investigate all of the massive insider trading that went on.
Walking.
Glad to have helped.
I’m up 5% YTD. It’s only the beginning. We’re going to have peaks and valleys but Trump is setting us up for the long term. I’m sure we’ll eventually have another bag of bones like Obloma who gets elected and thinks tax dollars exist to buy votes while lecturing us on the unfairness of the American dream. The flag is a dog whistle for the privileged and all 57 genders deserve a piece of someone else’s achievement.
5:25…okaaaay Gary it’s time to take you back to your room. There there buddy, you realize that the Orange Imbecile is POTUS now…..Okaaaay let’s get you some rest.
Libturd says:
May 13, 2025 at 2:04 pm
“This is MAGA.”
Give it up, Lib. You sound sillier, stupider and more Trump-deranged every time you utter it. DJT accomplishes more every 24 hours than SlowJoe accomplished in 4 years. He would win 400+ electoral votes if the election were held today, yet Dem loons like you, Rant and David Hogg are still trying to convince us that things would be better if Carmella had won. You guys are hopeless!
Radical extremist insurrectionist rightwingers seem quite contented.
Country going down the tubes, but at least civil war averted?
SmallGovConservative says:
May 13, 2025 at 6:38 pm
Libturd says:
May 13, 2025 at 2:04 pm
“This is MAGA.”
Give it up, Lib. You sound sillier, stupider and more Trump-deranged every time you utter it. DJT accomplishes more every 24 hours than SlowJoe accomplished in 4 years. He would win 400+ electoral votes if the election were held today, yet Dem loons like you, Rant and David Hogg are still trying to convince us that things would be better if Carmella had won. You guys are hopeless!
6:38 accomplished more grift than any POTUS/Rapistbin history.
You know he fucked children on Epstein Island.
Presophile.
https://www.cnbc.com/2025/05/13/elon-musk-starlink-saudi-arabia.html
These guys make Hunter looks like a rookie.
PedOPoTus says:
May 13, 2025 at 7:20 pm
6:38 accomplished more grift than any POTUS/Rapistbin history.
You know he fucked children on Epstein Island.
In reality Trump kicked out of a party because he was flirting with young women, you probably have him confused with Bill Clinton.
I’m attending my investment club meeting as I type this. Amazon had nearly doubled their earnings the first three months of the year. Demand pushed forward ahead of the tariffs. Maybe the King is right? The Fed should lower their interest rates. Because the recession that is about to hit may be a real doozy. Market is not quite back to the top of the channel, but it’s getting there in a hurry. Be ready to pull back again.
Let’s root for SpaceSail.
Fuck StarLink.
Who’s with me?
Because the recession that is about to hit may be a real doozy.
Not even $5 Trillion in private investments can stop it.
Right?
I think we need a $5 Trillion dollar government stimulus package to quell the recession.
Grim the Hunter Biden and Elon comparison? Hunter Biden offered a phone call with his dad for some diamonds, wire transfers and probably coke.
Elon if offering the worldwide starlink constellation, electric cars and robots that will probably wash and fold laundry pretty soon. His Robots have crazy hands… Wash and Fold!! Women will buy them by the dozen!
https://www.youtube.com/watch?v=KZyphH7BCOc
Republicans: Pushing technological advancements beyond the imagination.
Liberals: Pushing gender-altering surgery on children.
Lib – “recession that is about to hit ?” Yeah about when? Like 2025 or sometime 3rd quarter 2026?
Two things we do know now.
1) Trump’s trade war will raise prices and slow some growth later this year, but erase all GDP gains? Fed predicts a Q2 GDP to 2.42%. That ain’t negative meaning no recession so well it ain’t about to hit. Fed’s been wrong for sure. I know it we all know it about Fed lying and being wrong.
2) The latest tariff negotiation news had signaled that a risk of a severe economic crisis
is now retreating. We went from full throttle chance of recession to a moderate risk? Not sure it needs to marinate more.
FAFO
Prosecutor punted to a grand jury…Guess what charges stick…
“A federal grand jury indicted Milwaukee County Circuit Court Judge Hannah Dugan Tuesday after determining there was probable cause to bring charges against her in a pending case.”
I wonder what other kind of lawyering is going to happen…..
https://www.wpr.org/news/grand-jury-indicts-milwaukee-county-judge-allege-helped-man-evade-ice
Just watch.
Republicans: Pushing technological advancements beyond the imagination.
Don’t forget cancelling AIDs meds for HIV positive kids in Africa. As well as small pox, polio, etc. vaccination programs. And malaria suppresion…
And don’t forget making working-class Americans pay 10, 20, ? % more for many products they buy.
But those hundreds of thousands of lives lost will be so worth it if it makes Elon a trillionaire!