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re: WSJ Piece: Young Americans Are Getting Left Behind by Rising Home Prices, Higher Stocks
Posted on 4/27/24 at 8:41 am to TackySweater
Posted on 4/27/24 at 8:41 am to TackySweater
We make comfortable money, but we would not be able to swing our current mortgage + a fully financed new house if there were gaps in renting.
We need the equity from our current house to reach that value where we will be doubling our payment
We need the equity from our current house to reach that value where we will be doubling our payment
3
Posted on 4/27/24 at 8:45 am to Displaced
quote:
We make comfortable money, but we would not be able to swing our current mortgage + a fully financed new house if there were gaps in renting.
Like a years long gap? Rental market is crazy right now. You’d likely have someone ready to move in right away.
Posted on 4/27/24 at 8:53 am to Displaced
That’s where I’m at.
Last year I sold my house that I bought when I was single. Got married and moved to prairiville with a rate and mortgage double what I was paying on the previous home.
It sucks, but I like our house and neighborhood. It is what it is at this point.
Last year I sold my house that I bought when I was single. Got married and moved to prairiville with a rate and mortgage double what I was paying on the previous home.
It sucks, but I like our house and neighborhood. It is what it is at this point.
Posted on 4/27/24 at 3:36 pm to Displaced
Don’t give up the house if at any way you can avoid it let someone else pay the mortgage find a really good property manager that has tons of clients and if you don’t find the renter you want in the month or two you need them lower rent and you will get one. I think my paperwork for me rental has it in the fine print that rate goes up a certain percentage due to inflation or something. I get roughly 75$ more ever year they extend I’m at year 4 now…. Which honestly is nice but does not keep up with current rental prices so I’m thinking out taking it down next year and do a quick touch up paint and some new fixtures and re rent
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