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re: Salary of $115,627 needed in order to qualify for a mortgage on a typical American home

Posted on 10/18/23 at 12:33 pm to
Posted by KILGUS
Member since Aug 2014
452 posts
Posted on 10/18/23 at 12:33 pm to
This is what 152K will get you in Knoxville, and I can promise you 175K will not get you much better:

830 sq ft house built in 1930 in the most dangerous part of town








And for kicks, some one was recently murdered about a block or two away

quote:

MikeyWM97

Exactly, I see it all the time. These kids want the same house their parents live in, but have no idea the years of work it took to get there.


Some of yall are so out of touch. My wife (no pics) turned 30 today and is about to finish her fourth year of med school and then go into residency. She graduated from UAB and also got a masters in biology. This summer she completed her MBA, all while teaching college classes on the side while also studying for multiple board exams and working long hours at the hospital every day. There is a strong chance she has already out worked both of your parents. We are living off my salary as a photographer/videographer/public relations for a small municipality with contracted work on the side and her student loans. Once she starts residency, she will only be making around 60k, which when divided by the amount of hours she will be working, comes out to almost nothing.

I bought my first house five years ago. It was only 667 sq ft and I got it for 92k. I sold it earlier this year for 155k...for a house under 700 sq ft. We had to move in to an apartment that ran for 1500 a month. We were displaced from that apartment last winter when the complex's external fire sprinklers burst and flooded our unit. We were given two weeks to move out and ended in an apartment 300 sq ft smaller and $500 more a month. The next week after we signed the lease, they raised rent by $500.

Some of yall have zero understanding of what this market is like. I can assure you people out here aren't trying to live luxurious lifestyles above their means. We just want a house that's not falling apart in the roughest parts of town. I don't even have a car note or student loans or credit card debt, just her student loan debt, yet we would probably be priced out of our current apartment if we had to resign the lease. This area is a hotbed of the California/New York migration and it has completely priced residents out of their rentals and more. People are struggling, and it's not laziness and extravagant living.
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