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Started By
Message
re: WSJ Piece: Young Americans Are Getting Left Behind by Rising Home Prices, Higher Stocks
Posted on 4/27/24 at 8:45 am to Displaced
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.
2
Posted on 4/27/24 at 8:46 am to TackySweater
quote:
Like a years long gap? Rental market is crazy right now. You’d likely have someone ready to move in right away.
There’s also the debt to income ratio for getting a new mortgage if you still have an old one.
Posted on 4/27/24 at 10:13 am to TackySweater
quote:
Like a years long gap? Rental market is crazy right now. You’d likely have someone ready to move in right away.
Sure, but realistically our house could rent for $2200/month. Our mortgage is $1800.
That $400 would not feasibly bridge a gap on the purchase of a $675k house. We need the equity to pay down a loan and make a mortgage affordable at 7% interest.
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